v3.23.3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue        
Interest income $ 243,258 $ 232,115 $ 721,340 $ 632,007
Non-interest income 24,962 17,961 72,955 58,591
Total revenue 268,220 250,076 794,295 690,598
Less:        
Interest expense 46,965 26,671 127,410 57,452
Net decrease in fair value (136,119) (76,422) (458,319) (135,935)
Net revenue 85,136 146,983 208,566 497,211
Operating expenses:        
Technology and facilities 52,663 56,113 164,653 158,090
Sales and marketing 18,852 21,781 57,229 88,690
Personnel 28,647 39,959 96,727 114,514
Outsourcing and professional fees 10,482 18,620 34,184 50,112
General, administrative and other 11,862 14,401 52,147 44,698
Goodwill impairment 0 108,472 0 108,472
Total operating expenses 122,506 259,346 404,940 564,576
Income (loss) before taxes (37,370) (112,363) (196,374) (67,365)
Income tax expense (benefit) (16,232) (6,536) (58,247) 1,956
Net loss (21,138) (105,827) (138,127) (69,321)
Net income (loss) attributable to common stockholders (21,138) (105,827) (138,127) (69,321)
Net income (loss) attributable to common stockholders $ (21,138) $ (105,827) $ (138,127) $ (69,321)
Earnings (loss) per share:        
Basic (in USD per share) $ (0.55) $ (3.21) $ (3.80) $ (2.12)
Diluted (in USD per share) $ (0.55) $ (3.21) $ (3.80) $ (2.12)
Weighted average common shares outstanding:        
Basic (in shares) 38,283,071 33,010,107 36,333,570 32,688,988
Diluted (in shares) 38,283,071 33,010,107 36,333,570 32,688,988

Source