v3.25.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenue    
Interest income $ 220,221 $ 230,590
Non-interest income 15,683 19,892
Total revenue 235,904 250,482
Less:    
Interest expense 57,403 54,465
Net decrease in fair value (72,672) (116,850)
Net revenue 105,829 79,167
Operating expenses:    
Technology and facilities 36,437 47,105
Sales and marketing 19,882 16,003
Personnel 20,965 24,516
Outsourcing and professional fees 8,012 10,241
General, administrative and other 7,374 11,777
Total operating expenses 92,670 109,642
Income (loss) before taxes 13,159 (30,475)
Income tax expense (benefit) 3,392 (4,036)
Net income (loss) 9,767 (26,439)
Net income (loss) attributable to common stockholders, diluted 9,767 (26,439)
Net income (loss) attributable to common stockholders $ 9,767 $ (26,439)
Earnings (loss) per share:    
Basic (in USD per share) $ 0.21 $ (0.68)
Diluted (in USD per share) $ 0.21 $ (0.68)
Weighted average common shares outstanding:    
Basic (in shares) 45,496,705 38,900,876
Diluted (in shares) 47,037,799 38,900,876

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