XML 16 R8.htm IDEA: XBRL DOCUMENT v3.25.3
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating Activities:    
Net income $ 90,439 $ 53,155
Adjustments to reconcile net income to net cash provided from operating activities:    
Depreciation and amortization 967 707
Provision for credit losses 65,624 30,636
Provision for other credit losses 20,814 4,940
Equity based compensation and restricted stock vested 5,180 3,823
Amortization of debt issuance costs 330 417
Fair value adjustment on warrants 0 1,261
Impairment losses on long-lived assets 68 48
Gain on sale of fixed assets (14) (37)
Loss on extinguishment of line of credit 0 260
Deferred income taxes 3,462 (14,941)
Changes in operating assets and liabilities:    
Notes receivable (85,172) (32,994)
Other receivables (24,605) (7,192)
Prepaid expenses and other assets (11,352) (3,122)
Merchant accounts payable (11,445) (3,474)
Other payables (1,059) 4,986
Accrued and other liabilities 1,738 (334)
Deferred revenue 608 1,730
Operating leases 35 59
Net Cash Provided from Operating Activities 55,618 39,928
Investing Activities:    
Purchase of property and equipment (594) (36)
Internally developed intangible asset additions (1,509) (1,022)
Net Cash Used for Investing Activities (2,103) (1,058)
Financing Activities:    
Proceeds from line of credit 105,800 74,727
Payments to line of credit (92,800) (74,727)
Payments of debt issuance costs (10) (1,052)
Proceeds from stock option exercises 3,618 1,566
Stock subscriptions collected related to stock option exercises 44 39
Proceeds from warrant exercises 0 401
Repurchase of common stock (34,630) (22,167)
Net Cash Used for Financing Activities (17,978) (21,213)
Effect of exchange rate changes on cash 809 (13)
Net increase in cash, cash equivalents, and restricted cash 35,537 17,657
Cash, cash equivalents, and restricted cash, beginning of period 98,310 70,699
Cash, cash equivalents, and restricted cash, end of period 134,656 88,343
Noncash investing and financing activities:    
Conversion of accrued profit-sharing incentive plan liabilities to stockholders' equity 2,301 0
Conversion of warrant liabilities to stockholders' equity 0 2,229
Supplementary disclosures:    
Interest paid 11,248 10,477
Income taxes paid $ 25,324 $ 3,545