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Notes Receivable and Allowance for Credit Losses (Tables)
 9 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
Schedule of Notes Receivable
As of September 30, 2025 and December 31, 2024, our notes receivable at amortized cost was comprised of the following:

(in thousands)September 30, 2025December 31, 2024
Notes receivable, gross$220,115 $194,434 
Deferred loan fees and costs
(2,266)(3,769)
Notes receivable, amortized cost$217,849 $190,665 
As of September 30, 2025 and December 31, 2024, the balance of other receivables, net, on the consolidated balance sheets was comprised of the following:

(in thousands)September 30, 2025December 31, 2024
Delinquency fees receivable, net
$5,109 $993 
Receivables from merchants
525 698 
Receivables from originating partner
1,789 1,938 
Other receivables, net$7,423 $3,629 
The activity in the allowance for other credit losses related to delinquency fees, including the provision for other credit losses, charge-offs, and recoveries for the three and nine months ended September 30, 2025 and 2024 was as follows:

For the three months ended September 30, For the nine months ended September 30,
(in thousands)2025202420252024
Balance at beginning of period$5,249 $1,526 $5,276 $1,272 
Provision for other credit losses12,291 2,341 20,814 4,940 
Charge-offs(6,174)(1,382)(15,259)(3,994)
Recoveries of charged-off receivables511 108 1,046 375 
Balance at end of period$11,877 $2,593 $11,877 $2,593 
Net delinquency fee charge-offs by year of origination for the nine months ended September 30, 2025 was as follows:
(in thousands)20252024202320222021Total
Current period gross charge-offs$(8,763)$(6,473)$(1)$(22)$— $(15,259)
Current period recoveries249 621 74 45 57 1,046 
Current period net charge-offs$(8,514)$(5,852)$73 $23 $57 $(14,213)
Schedule of Amortized Cost Basis of Our Notes Receivable by Prophet Score and Year of Origination
The amortized cost basis of our notes receivable by Prophet Score and year of origination as of September 30, 2025 and December 31, 2024 was as follows:

September 30, 2025December 31, 2024
Amortized cost basis by year of origination
(in thousands)20252024Total20242023Total
A$76,805 $5 $76,810 $57,945 $— $57,945 
B79,729 19 79,748 74,999 1 75,000 
C61,147 101 61,248 57,646 — 57,646 
No score43 — 43 74 — 74 
Total amortized cost$217,724 $125 $217,849 $190,664 $1 $190,665 
Schedule of Gross Notes Receivable and Related Allowance by Aging The amortized cost basis of our notes receivable by delinquency status as of September 30, 2025 and December 31, 2024 was as follows:
(in thousands)September 30, 2025December 31, 2024
Current$175,801 $161,870 
1–28 days past due19,739 15,303 
29–56 days past due11,485 6,267 
57–90 days past due10,824 7,225 
Total amortized cost$217,849 $190,665 
Schedule of Allowance for Credit Loss
The activity in the allowance for credit losses, including the provision for credit losses, charge-offs, and recoveries for the three and nine months ended September 30, 2025 and 2024 was as follows:

For the three months ended September 30, For the nine months ended September 30,
(in thousands)2025202420252024
Balance at beginning of period$23,615 $11,786 $26,103 $12,253 
Provision for credit losses32,177 15,402 65,624 30,636 
Charge-offs(23,394)(9,167)(63,358)(26,394)
Recoveries of charged-off receivables1,320 605 5,349 2,131 
Balance at end of period$33,718 $18,626 $33,718 $18,626 

Net charge-offs by year of origination for the nine months ended September 30, 2025 was as follows:

(in thousands)20252024202320222021Total
Current period gross charge-offs$(36,014)$(27,214)$(4)$(125)$(1)$(63,358)
Current period recoveries587 3,941 344 210 267 5,349 
Current period net charge-offs$(35,427)$(23,273)$340 $85 $266 $(58,009)