v3.25.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Revenue    
Interest income $ 925,468 $ 963,496
Non-interest income 76,307 93,423
Total revenue 1,001,775 1,056,919
Less:    
Interest expense 238,158 179,414
Net decrease in fair value (468,413) (596,839)
Net revenue 295,204 280,666
Operating expenses:    
Technology and facilities 166,177 219,406
Sales and marketing 66,973 75,284
Personnel 87,166 121,843
Outsourcing and professional fees 36,847 45,401
General, administrative and other 53,218 72,385
Total operating expenses 410,381 534,319
Income (loss) before taxes (115,177) (253,653)
Income tax benefit (36,495) (73,702)
Net loss (78,682) (179,951)
Net loss attributable to common stockholders (78,682) (179,951)
Net loss attributable to common stockholders $ (78,682) $ (179,951)
Earnings (loss) per share:    
Basic (in USD per share) $ (1.95) $ (4.88)
Diluted (in USD per share) $ (1.95) $ (4.88)
Weighted average common shares outstanding:    
Basic (in shares) 40,356,025 36,875,950
Diluted (in shares) 40,356,025 36,875,950

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