v3.26.3
Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Revenues        
Portfolio revenue $ 414,414 $ 370,126 $ 1,204,675 $ 1,076,518
Changes in recoveries 111,043 63,636 244,898 140,699
Total debt purchasing revenue 525,457 433,762 1,449,573 1,217,217
Servicing revenue 17,474 22,175 56,340 67,022
Other revenues 1,610 4,416 5,911 11,011
Total revenues 544,541 460,353 1,511,824 1,295,250
Operating expenses        
Salaries and employee benefits 117,470 117,118 351,596 340,788
Cost of legal collections 100,400 80,010 286,220 227,672
General and administrative expenses 43,596 39,220 121,949 121,565
Other operating expenses 39,344 37,056 111,008 108,298
Collection agency commissions 6,016 6,601 18,472 21,848
Depreciation and amortization 7,110 7,170 21,080 21,825
Total operating expenses 313,936 287,175 910,325 841,996
Income from operations 230,605 173,178 601,499 453,254
Other expense        
Interest expense (72,299) (74,242) (219,256) (218,715)
Loss on extinguishment of debt 0 0 (30,533) 0
Other income 2,482 929 3,657 3,802
Total other expense (69,817) (73,313) (246,132) (214,913)
Income before income taxes 160,788 99,865 355,367 238,341
Provision for income taxes (36,775) (25,205) (81,112) (58,164)
Net income $ 124,013 $ 74,660 $ 274,255 $ 180,177
Earnings per share:        
Basic (USD per share) $ 5.80 $ 3.22 $ 12.73 $ 7.66
Diluted (USD per share) $ 5.57 $ 3.17 $ 12.21 $ 7.57
Weighted average shares outstanding:        
Basic (shares) 21,364 23,222 21,547 23,534
Diluted (shares) 22,255 23,520 22,454 23,789