v3.26.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenue    
Interest income $ 215,665 $ 220,221
Non-interest income 13,099 15,683
Total revenue 228,764 235,904
Less:    
Interest expense 47,979 57,403
Net decrease in fair value (85,894) (72,672)
Net revenue 94,891 105,829
Operating expenses:    
Technology and facilities 34,140 36,437
Sales and marketing 15,949 19,882
Personnel 25,528 20,965
Outsourcing and professional fees 8,704 8,012
General, administrative and other 7,009 7,374
Total operating expenses 91,330 92,670
Income before taxes 3,561 13,159
Income tax expense 1,216 3,392
Net income 2,345 9,767
Net income attributable to common stockholders 2,345 9,767
Net income attributable to common stockholders $ 2,345 $ 9,767
Earnings per share:    
Basic (in USD per share) $ 0.05 $ 0.21
Diluted (in USD per share) $ 0.05 $ 0.21
Weighted average common shares outstanding:    
Basic (in shares) 47,436,155 45,496,705
Diluted (in shares) 48,498,763 47,037,799

Source