v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenue        
Interest and rental income $ 84,470 $ 67,441 $ 167,159 $ 133,918
Gain on sale of assets 15,831 7,829 38,583 26,497
Management fees and retained interest income 12,850 8,988 22,581 15,987
Origination fee and other income 7,639 1,427 16,693 6,224
Total revenue 120,790 85,685 245,016 182,626
Expenses        
Interest expense 87,469 79,746 186,744 144,424
Provision (benefit) for loss on receivables and retained interests in securitization trusts (11,006) 1,038 (6,465) 4,850
Compensation and benefits 26,513 18,131 62,018 43,110
General and administrative 7,970 6,497 18,136 15,874
Total expenses 110,946 105,412 260,433 208,258
Income (loss) before equity method investments 9,844 (19,727) (15,417) (25,632)
Income (loss) from equity method investments 178,912 157,680 99,654 245,667
Income (loss) before income taxes 188,756 137,953 84,237 220,035
Income tax (expense) benefit (56,973) (38,158) (26,196) (62,055)
Net income (loss) 131,783 99,795 58,041 157,980
Net income (loss) attributable to non-controlling interest holders 3,158 1,350 1,382 2,923
Net income (loss) attributable to controlling stockholders $ 128,625 $ 98,445 $ 56,659 $ 155,057
Basic earnings (loss) per common share (in usd per share) $ 1.00 $ 0.80 $ 0.44 $ 1.28
Diluted earnings (loss) per common share (in usd per share) $ 0.92 $ 0.74 $ 0.43 $ 1.18
Weighted average common shares outstanding—basic (in shares) 127,831,218 121,515,164 127,773,647 120,454,366
Weighted average common shares outstanding—diluted (in shares) 142,889,551 137,740,850 143,041,556 137,830,564