ACCOUNTS RECEIVABLE AND OTHER RECEIVABLES (Tables)
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9 Months Ended |
Sep. 30, 2026 |
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| Credit Loss [Abstract] |
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| Schedule of Accounts Receivable and Other Receivables |
Accounts receivable and other receivables consist of the following: | | | | | | | | | | | | (in thousands) | September 30, 2026 | | December 31, 2025 | Accounts receivable | | | | Progressive Leasing accounts receivable: | | | | Progressive Leasing accounts receivable | $ | 141,436 | | | $ | 136,234 | | Less: accounts receivable allowance | (78,148) | | | (68,806) | | Progressive Leasing accounts receivable, net | 63,288 | | | 67,428 | | | | | | Four affiliate and interchange fees receivable | 6,656 | | | 6,800 | | | | | | Purchasing Power accounts receivable | | | | Accounts receivable - acquired portfolio (at fair value) | 39,633 | | | — | | Accounts receivable - post-acquisition portfolio | 264,309 | | | — | | Less: allowance for credit losses - post-acquisition portfolio | (33,767) | | | — | | Less: unearned interest income - post-acquisition portfolio | (1,926) | | | — | | Client and miscellaneous receivables | 36,437 | | | — | | Purchasing Power accounts receivable, net | 304,686 | | | — | | | | | | Total accounts receivable, net | $ | 374,630 | | | $ | 74,228 | | | | | | Other receivables - Purchasing Power | | | | Other receivables - acquired portfolio (at fair value) | 3,494 | | | — | | Other receivables - post-acquisition portfolio | 46,019 | | | — | | Less: allowance for credit losses - post-acquisition portfolio | (5,994) | | | — | | Less: unearned interest income - post-acquisition portfolio | (3,104) | | | — | | Total other receivables, net | $ | 40,415 | | | $ | — | |
The following is a summary of the Company's loans receivable, net: | | | | | | | | | | | | (in thousands) | September 30, 2026 | | December 31, 2025 | Loans receivable, gross | $ | 95,084 | | | $ | 108,894 | | Unamortized fees | (3,207) | | | (928) | | Loans receivable, amortized cost | 91,877 | | | 107,966 | | Allowance for loan losses | (17,494) | | | (17,318) | | Loans receivable, net of allowances and unamortized fees1 | $ | 74,383 | | | $ | 90,648 | |
1 Loans receivable, net of allowances and unamortized fees attributable to Four was $68.1 million and $84.4 million as of September 30, 2026 and December 31, 2025, respectively.
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| Schedule of Lease Receivable, Allowance for Credit Loss |
The following table summarizes activity in the lease receivable allowance related to Progressive Leasing: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30, | | Nine months ended September 30, | (in thousands) | | 2026 | | 2025 | | 2026 | | 2025 | Beginning balance | | $ | 69,436 | | | $ | 68,788 | | | $ | 68,806 | | | $ | 71,607 | | Net book value of accounts receivable written off | | (95,077) | | | (90,920) | | | (274,968) | | | (283,158) | | | Recoveries | | 9,027 | | | 9,480 | | | 31,187 | | | 32,029 | | Accounts receivable provision | | 94,762 | | | 86,318 | | | 253,123 | | | 253,188 | | Ending balance | | $ | 78,148 | | | $ | 73,666 | | | $ | 78,148 | | | $ | 73,666 | |
The following table summarizes activity in the allowance for credit losses related to Purchasing Power post-acquisition receivables: | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30, 2026 | | Nine months ended September 30, 2026 | | (in thousands) | Accounts receivable | | Other receivables | | Accounts receivable | | Other receivables | | Beginning balance | $ | 23,478 | | | $ | 4,469 | | | $ | — | | | $ | — | | | Net book value of accounts written off | (4,039) | | | (521) | | | (4,082) | | | (524) | | | Recoveries | 339 | | | 24 | | | 419 | | | 28 | | Provision for credit losses | 13,989 | | | 2,022 | | | 37,430 | | | 6,490 | | | Ending balance | $ | 33,767 | | | $ | 5,994 | | | $ | 33,767 | | | $ | 5,994 | |
The table below presents the components of the allowance for loan losses: | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30, | | Nine months ended September 30, | (in thousands) | 2026 | | 2025 | | 2026 | | 2025 | Beginning balance | $ | 18,649 | | | $ | 9,849 | | | $ | 17,318 | | | $ | 9,228 | | Provision for credit losses | 14,515 | | | 9,991 | | | 41,440 | | | 23,535 | | | Charge-offs | (18,785) | | | (11,332) | | | (49,971) | | | (26,105) | | | Recoveries | 3,115 | | | 1,404 | | | 8,707 | | | 3,254 | | Ending balance | $ | 17,494 | | | $ | 9,912 | | | $ | 17,494 | | | $ | 9,912 | |
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| Schedule of Aging of the Loans Receivable Gross Balance |
The following table presents the amortized cost basis of Purchasing Power receivables originated post-acquisition, disaggregated by credit quality indicator, as of September 30, 2026: | | | | | | | | | | | | | | | | | | | | | (in thousands) | Originated post-acquisition accounts receivables | Originated post-acquisition other receivables | Aging category | Federal | Non-Federal | September 30, 2026 | Federal | Non-Federal | September 30, 2026 | 1-30 days past due | $ | 1,973 | | $ | 13,804 | | $ | 15,777 | | $ | 620 | | $ | 2,190 | | $ | 2,810 | | 31-59 days past due | 968 | | 5,876 | | 6,844 | | 271 | | 863 | | 1,134 | | 60 or more days past due | 1,551 | | 9,515 | | 11,066 | | 391 | | 1,228 | | 1,619 | | Past due receivables | $ | 4,492 | | $ | 29,195 | | $ | 33,687 | | $ | 1,282 | | $ | 4,281 | | $ | 5,563 | | Current receivables | $ | 21,399 | | $ | 209,223 | | $ | 230,622 | | $ | 5,745 | | $ | 34,711 | | $ | 40,456 | |
Included in the table below is an aging of the loans receivable, gross balance: | | | | | | | | | | | | (dollar amounts in thousands) | | | | Aging category | September 30, 2026 | | December 31, 2025 | 1-30 days past due | 13.3 | % | | 12.5 | % | 31-59 days past due | 8.3 | % | | 3.9 | % | 60 or more days past due | 6.3 | % | | 2.9 | % | Past due loans receivable | 27.9 | % | | 19.3 | % | Current loans receivable | 72.1 | % | | 80.7 | % | Balance of loans receivable 90 or more days past due and still accruing interest and fees | $ | — | | | $ | — | |
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