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Other Receivables
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Other Receivables Other Receivables
As of June 30, 2025 and December 31, 2024, the balance of other receivables, net, on the consolidated balance sheets was comprised of the following:

(in thousands)June 30, 2025December 31, 2024
Late payment fees receivable, net$1,694 $993 
Receivables from merchants
543 698 
Receivables from originating partner
1,788 1,938 
Other receivables, net$4,025 $3,629 

Late payment fees are applied to delinquent principal installments, subject to regulations within specific state jurisdictions. Any late payment fees associated with a delinquent payment are considered to be the same number of days delinquent as the principal payment. Late payment fees receivable, net, is comprised of outstanding late payment fees that we reasonably expect to collect from our consumers. As of June 30, 2025 and December 31, 2024, gross late payment fees receivable totaled $6.9 million and $6.3 million, respectively.

Our late payment fees receivable are considered past due when the principal associated with the order has not been received within one calendar day of when they are due in accordance with the agreed upon contractual terms. We maintain an allowance for other credit losses at a level necessary to absorb expected credit losses on late payment fees receivable from our consumers. Any amounts delinquent after 90 days are charged off with an offsetting reversal to the allowance for other credit losses. Any adjustment to the allowance for other credit losses is recognized in net income through an offset to total revenue on our consolidated statements of operations and comprehensive income. Payments recovered after 90 days are recognized as a reduction to the allowance for other credit losses in the period the receivable is recovered.

The activity in the allowance for other credit losses related to late payment fees, including the provision for other credit losses, charge-offs, and recoveries for the three and six months ended June 30, 2025 and 2024 was as follows:

For the three months ended June 30, For the six months ended June 30,
(in thousands)2025202420252024
Balance at beginning of period$4,993 $1,090 $5,276 $1,272 
Provision for other credit losses4,568 1,520 8,523 2,599 
Charge-offs(4,596)(1,206)(9,085)(2,612)
Recoveries of charged-off receivables284 122 535 267 
Balance at end of period$5,249 $1,526 $5,249 $1,526 

Due to the nature of late payment fees, we monitor the credit quality of the receivables based on delinquency status. Late payment fees receivable were $6.9 million delinquent as of June 30, 2025, and $6.0 million delinquent and $0.3 million current as of December 31, 2024. Net late payment fee charge-offs by year of origination for the six months ended June 30, 2025 was as follows:

(in thousands)20252024202320222021Total
Current period gross charge-offs$(2,602)$(6,460)$(1)$(22)$— $(9,085)
Current period recoveries— 407 55 32 41 535 
Current period net charge-offs$(2,602)$(6,053)$54 $10 $41 $(8,550)

Receivables from merchants primarily represents amounts due to us from our long-term lending partner that will be used to settle outstanding merchant accounts payable. Receivables from originating partner represents amounts due to us from our originating partner that will be used to settle outstanding merchant accounts payable on orders originated by them. We do not expect to incur losses on receivables from merchants or our originating partner therefore, there is no allowance for credit losses recorded.