v3.25.4
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Revenue    
Interest income $ 893,222 $ 925,468
Non-interest income 63,463 76,307
Total revenue 956,685 1,001,775
Less:    
Interest expense 231,503 238,158
Net decrease in fair value (319,345) (468,413)
Net revenue 405,837 295,204
Operating expenses:    
Technology and facilities 142,441 166,177
Sales and marketing 70,596 66,973
Personnel 79,949 87,166
Outsourcing and professional fees 34,795 36,847
General, administrative and other 33,980 53,218
Total operating expenses 361,761 410,381
Income (loss) before taxes 44,076 (115,177)
Income tax expense (benefit) 18,830 (36,495)
Net income (loss) 25,246 (78,682)
Net income (loss) attributable to common stockholders 25,246 (78,682)
Net income (loss) attributable to common stockholders $ 25,246 $ (78,682)
Earnings (loss) per share:    
Basic (in USD per share) $ 0.54 $ (1.95)
Diluted (in USD per share) $ 0.53 $ (1.95)
Weighted average common shares outstanding:    
Basic (in shares) 46,418,934 40,356,025
Diluted (in shares) 47,858,631 40,356,025

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