Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2026 |
Sep. 30, 2025 |
Sep. 30, 2026 |
Sep. 30, 2025 |
|
| Operating Revenues: | ||||
| Loss on Sale of Borrower Loans | $ (15,112) | $ (15,116) | $ (46,071) | $ (44,363) |
| Total Operating Revenues | 83,440 | 57,687 | 205,386 | 161,508 |
| Interest Income (Expense): | ||||
| Interest Income on Financial Instruments | 19,718 | 19,485 | 51,686 | 63,852 |
| Interest Expense on Financial Instruments | (12,521) | (14,522) | (36,666) | (46,283) |
| Total Interest Income, Net | 7,197 | 4,963 | 15,020 | 17,569 |
| Change in Fair Value of Financial Instruments | 15,141 | (3,464) | 15,098 | (25,577) |
| Total Net Revenue | 105,778 | 59,186 | 235,504 | 153,500 |
| Expenses: | ||||
| Origination and Servicing | 14,531 | 12,347 | 42,381 | 35,989 |
| Sales and Marketing | 24,241 | 16,123 | 64,522 | 44,072 |
| General and Administrative | 23,399 | 23,019 | 69,530 | 66,499 |
| Change in Fair Value of Convertible Preferred Stock Warrants | (48) | 35,121 | (58,056) | 37,254 |
| Interest Expense on Term Loan | 2,023 | 2,952 | 6,000 | 9,007 |
| Other Income, Net | (1,054) | (912) | (2,929) | (2,561) |
| Total Expenses | 63,092 | 88,650 | 121,448 | 190,260 |
| Net Income (Loss) Before Taxes | 42,686 | (29,464) | 114,056 | (36,760) |
| Income Tax Expense | (960) | (28) | (1,298) | (84) |
| Net Income (Loss) | 41,726 | (29,492) | 112,758 | (36,844) |
| Plus: Return on Share Purchase and Forfeiture | 0 | 0 | 355 | 0 |
| Less: Net Income Allocated to Participating Securities | (34,192) | 0 | (89,041) | 0 |
| Net Income (Loss) Attributable to Common Stockholders | $ 7,534 | $ (29,492) | $ 24,072 | $ (36,844) |
| Net Income (Loss) Per Share - Basic (in dollars per share) | $ 0.09 | $ (0.38) | $ 0.30 | $ (0.47) |
| Net Income (Loss) Per Share - Diluted (in dollars per share) | $ 0.06 | $ (0.38) | $ 0.12 | $ (0.47) |
| Weighted Average Shares - Basic (in shares) | 79,691,819 | 78,029,045 | 78,960,756 | 77,746,658 |
| Weighted Average Shares - Diluted (in shares) | 127,695,689 | 78,029,045 | 199,717,762 | 77,746,658 |
| Transaction Fees, Net | ||||
| Operating Revenues: | ||||
| Revenues | $ 81,471 | $ 61,386 | $ 214,614 | $ 174,716 |
| Servicing Fees, Net | ||||
| Operating Revenues: | ||||
| Revenues | 14,615 | 8,875 | 30,912 | 23,617 |
| Other Revenues | ||||
| Operating Revenues: | ||||
| Revenues | $ 2,466 | $ 2,542 | $ 5,931 | $ 7,538 |
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- References No definition available.
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- Definition Change In Fair Value Of Financial Instruments No definition available.
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- Definition Interest Expense, Debt, Nonoperating No definition available.
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- References No definition available.
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- Definition Return on Share Purchase and Forfeiture, Adjustment Amount No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The net gain (loss) resulting from a sale of loans, including adjustments to record loans classified as held-for-sale at the lower-of-cost-or-market and fair value adjustments to loan held for investment purposes. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Interest and fee income generated from consumer loans. Consumer loans are loans to individuals for household, family, and other personal expenditures. Such loans include residential mortgages, home equity lines-of-credit, automobiles and marine transport loans, credit card transactions, and others. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense for debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of interest income (expense) classified as operating. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The total amount of noninterest income which may be derived from: (1) fees and commissions; (2) premiums earned; (3) insurance policy charges; (4) the sale or disposal of assets; and (5) other sources not otherwise specified. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
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- References No definition available.
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total amount of expenses directly related to the marketing or selling of products or services. No definition available.
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- Definition Amount of undistributed earnings (loss) allocated to participating securities for the basic earnings (loss) per share or per unit calculation under the two-class method. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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