| Segment Reporting |
12.Segment Reporting The Company’s operating segments are based on the Company’s geographies, which is how management monitors and assesses performance. The Company’s geographies are the United States, the United Kingdom, Canada, and Latin America. The Company’s Chief Operating Decision Maker (“CODM”) is the Chief Executive Officer. Assets are not reported by operating segment to the CODM. For the Company’s operating segments, the CODM uses segment net operating income to allocate resources (including employees, property, and financial or capital resources). Additionally, the Company prepares an annual budget at the segment level. The CODM considers budget-to-actual variances on a monthly basis for the profit or loss measure when making decisions about allocating capital and personnel to the segments. The CODM also uses segment operating income to assess the performance for each segment by comparing the results of each segment with one another and for determining the compensation of certain employees. The following table provides segment measure of profit and loss, presenting Net operating income, by each operating segment (in thousands) and is the measure that the CODM utilizes to determine resource and investment allocations: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended June 30, | | For the Six Months Ended June 30, | | | 2026 | | 2026 | | | United | | United | | | | | Latin | | | | | United | | United | | | | | Latin | | | | | | States | | Kingdom | | Canada | | America | | Total | | States | | Kingdom | | Canada | | America | | Total | Total portfolio revenue | | $ | 126,594 | | $ | 7,709 | | $ | 19,125 | | $ | 11,835 | | $ | 165,263 | | $ | 253,804 | | $ | 17,063 | | $ | 35,261 | | $ | 23,798 | | $ | 329,926 | Credit card revenue | | | 699 | | | — | | | 924 | | | — | | | 1,623 | | | 1,422 | | | — | | | 1,936 | | | — | | | 3,358 | Servicing revenue | | | 1,244 | | | 8,912 | | | 498 | | | — | | | 10,654 | | | 3,043 | | | 16,669 | | | 983 | | | — | | | 20,695 | Total Revenue | | $ | 128,537 | | $ | 16,621 | | $ | 20,547 | | $ | 11,835 | | $ | 177,540 | | $ | 258,269 | | $ | 33,732 | | $ | 38,180 | | $ | 23,798 | | $ | 353,979 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Provision for credit losses | | $ | 587 | | $ | — | | $ | 170 | | $ | — | | | | | $ | 1,043 | | $ | — | | $ | 337 | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Salaries and benefits | | $ | 15,691 | | $ | 4,453 | | $ | 1,302 | | $ | 434 | | | | | $ | 32,256 | | $ | 8,654 | | $ | 2,698 | | $ | 647 | | | | Servicing expenses | | | 53,165 | | | 4,895 | | | 2,745 | | | 4,016 | | | | | | 107,753 | | | 9,579 | | | 5,089 | | | 7,979 | | | | Depreciation and amortization | | | 559 | | | 90 | | | 188 | | | 7 | | | | | | 1,153 | | | 170 | | | 377 | | | 16 | | | | Professional fees | | | 2,423 | | | 244 | | | 101 | | | 285 | | | | | | 4,135 | | | 448 | | | 175 | | | 575 | | | | Other selling, general and administrative | | | 3,308 | | | 730 | | | 430 | | | 283 | | | | | | 6,585 | | | 1,447 | | | 771 | | | 472 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net operating income | | $ | 52,804 | | $ | 6,209 | | $ | 15,611 | | $ | 6,810 | | $ | 81,433 | | $ | 105,344 | | $ | 13,434 | | $ | 28,733 | | $ | 14,109 | | $ | 161,619 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Other Income / (Expense): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest expense | | | | | | | | | | | | | | $ | (30,370) | | | | | | | | | | | | | | $ | (60,948) | Foreign exchange and other income / (expense) | | | | | | | | | | | | | | | 2,270 | | | | | | | | | | | | | | | 3,718 | Total other expense | | | | | | | | | | | | | | | (28,100) | | | | | | | | | | | | | | | (57,230) | Income Before Income Taxes | | | | | | | | | | | | | | $ | 53,333 | | | | | | | | | | | | | | $ | 104,389 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended June 30, | | For the Six Months Ended June 30, | | | 2025 | | 2025 | | | United | | United | | | | | Latin | | | | | United | | United | | | | | Latin | | | | | | States | | Kingdom | | Canada | | America | | Total | | States | | Kingdom | | Canada | | America | | Total | Total portfolio revenue | | $ | 106,313 | | $ | 7,439 | | $ | 17,634 | | $ | 9,047 | | $ | 140,433 | | $ | 218,058 | | $ | 11,924 | | $ | 33,746 | | $ | 19,019 | | $ | 282,747 | Credit card revenue | | | 630 | | | — | | | 1,168 | | | — | | | 1,798 | | | 1,294 | | | — | | | 2,402 | | | — | | | 3,696 | Servicing revenue | | | 3,786 | | | 6,278 | | | 413 | | | — | | | 10,477 | | | 8,322 | | | 12,145 | | | 741 | | | — | | | 21,208 | Total Revenue | | $ | 110,729 | | $ | 13,717 | | $ | 19,215 | | $ | 9,047 | | $ | 152,708 | | $ | 227,674 | | $ | 24,069 | | $ | 36,889 | | $ | 19,019 | | $ | 307,651 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Provision for credit losses | | $ | 368 | | | — | | | 192 | | | — | | | | | $ | 700 | | | — | | | 401 | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Salaries and benefits | | $ | 618 | | $ | 4,148 | | $ | 1,357 | | $ | 131 | | | | | $ | 17,363 | | | — | | | 2,669 | | | 244 | | | | Servicing expenses | | | 32,522 | | | 5,111 | | | 2,722 | | | 3,191 | | | | | | 71,810 | | | 3,253 | | | 5,054 | | | 6,222 | | | | Depreciation and amortization | | | 893 | | | 88 | | | 258 | | | 11 | | | | | | 2,148 | | | 171 | | | 516 | | | 19 | | | | Professional fees | | | 8,727 | | | 250 | | | 244 | | | 223 | | | | | | 10,362 | | | 475 | | | 333 | | | 441 | | | | Other selling, general and administrative | | | 3,820 | | | 650 | | | 330 | | | 213 | | | | | | 7,379 | | | 1,243 | | | 658 | | | 282 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net Operating Income | | $ | 63,781 | | $ | 3,470 | | $ | 14,112 | | $ | 5,278 | | $ | 86,641 | | $ | 117,912 | | $ | 18,927 | | $ | 27,258 | | $ | 11,811 | | $ | 175,908 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Other Income / (Expense): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest expense | | | | | | | | | | | | | | $ | (25,824) | | | | | | | | | | | | | | $ | (50,717) | Foreign exchange and other expense | | | | | | | | | | | | | | | 1,089 | | | | | | | | | | | | | | | 3,620 | Total other expense | | | | | | | | | | | | | | | (24,735) | | | | | | | | | | | | | | | (47,097) | Income Before Income Taxes | | | | | | | | | | | | | | $ | 61,906 | | | | | | | | | | | | | | $ | 128,811 |
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