v3.26.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net income $ 104,129 $ 107,803
Adjustments to reconcile net income to net cash provided by operating activities:    
Change in fair value of finance receivables 180,058 142,187
Depreciation and amortization 4,045 4,395
Debt issuance cost amortization 1,910 2,557
Original issue discount amortization 39 0
Stock-based compensation expense 6,373 8,280
Loss on disposition of equipment 0 2
Impairment of right of use asset 0 155
Deferred income taxes 5,715 4,418
Tax receivable agreement liability adjustment (146) 94
Change in fair value of warrant liabilities (24,338) 23,223
Income from equity method investment (2,707) (3,562)
Distributions received from equity method investment 1,435 3,868
Changes in assets and liabilities:    
Accrued interest receivable (5,657) (6,187)
Settlement receivable 0 2,036
Operating lease, net (264) (192)
Other assets 6,302 (4,876)
Accounts payable (2,002) 2,225
Accrued expenses (6,763) (1,945)
Net cash provided by operating activities 268,129 284,481
Cash flows from investing activities:    
Finance receivables acquired (870,985) (945,559)
Finance receivables repayments 723,936 741,356
Purchases of equipment and capitalized technology (13,557) (14,216)
Net cash used in investing activities (160,606) (218,419)
Cash flows from financing activities:    
Member distributions (22,814) (58,260)
Borrowings of senior debt - revolving lines of credit 91,523 195,935
Payments of senior debt - revolving lines of credit (136,423) (163,919)
Borrowing of senior debt - term loan, net of original issue discount 74,063 0
Payments of senior debt - term loan 0 (30,000)
Payments for debt issuance costs (1,193) (4,913)
Proceeds from employee stock purchase plan 649 423
Exercise of warrants 1 4
Exercise of stock options 0 1
Payments of tax withholding on vesting of restricted stock units (2,569) (3,619)
Payments on tax receivable agreement liability (45,406) (1,041)
Purchase of treasury stock (17,944) (7,354)
Dividend paid on common stock 0 (6,414)
Net cash used in financing activities (60,113) (79,157)
Net increase (decrease) in cash and restricted cash 47,410 (13,095)
Cash and restricted cash    
Beginning 93,263 88,288
Ending 140,673 75,193
Supplemental disclosure of cash flow information:    
Interest paid on borrowed funds 23,005 28,012
Income taxes paid 14,931 4,807
Supplemental disclosure of noncash activities:    
Adjustments to additional paid-in capital as a result of tax receivable agreement (21) (10,284)
Adjustments to additional paid-in capital as a result of adjustment to deferred tax asset 7,716 12,461
Adjustments to additional paid-in capital as a result of the Up-C collapse 254,988 0
Adjustments to additional paid-in capital as a result of tax receivable agreement settlement $ 58,927 $ 0