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Notes Receivable, Net | 3 Months Ended
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Mar. 31, 2025
Receivables [Abstract] |
Notes Receivable, net | Note 4 – Notes Receivable, net The Company’s notes receivable, net consists of investments in loans to buyers of charged-off and nonperforming receivable portfolios through HGC and financing of laboratory equipment sales through ALT. As of March 31, 2025 and December 31, 2024, the Company’s outstanding notes receivable balance related to loans to buyers of charged-off and nonperforming receivable portfolios, net of unamortized deferred fees and costs on originated loans, and adjusted for the allowance for credit losses was $9.3 million and $9.6 million, respectively. The activity during the three months ended March 31, 2025 includes the additional investment in notes receivable of approximately $1.2 million, which was offset by principal payments made by borrowers of approximately $1.5 million. As of both March 31, 2025 and December 31, 2024, the Company’s outstanding notes receivable balance related to financing of laboratory equipment sales, net of unamortized deferred fees and costs on originated loans and adjusted for the reserve for credit losses was $0.4 million. The activity during the three months ended March 31, 2025 includes the investment in notes receivable of approximately $0.1 million, which was offset by principal payments made by purchasers of $0.1 million and an immaterial amount of deferred financing fees, and allowance for credit losses. The table below shows the Company’s lending activity for the three months ended March 31, 2025 (in thousands):
Notes receivable, net, December 31, 2024 |  | $ | 10,409 |
Investment in notes receivable |  |  | 1,348 |
Principal repayments |  |  | (1,609 | )
Notes receivable, as of March 31, 2025 |  |  | 10,148 |
Deferred financing fees and costs, net |  |  | (40 | )
Allowance for credit losses |  |  | (381 | )
Notes receivable, net, March 31, 2025 |  | $ | 9,727 |
In accordance with ASC 326, the Company performs a review of notes receivable on a quarterly basis. During the three months ended March 31, 2025, the Company made no material changes to the provision for credit losses in selling, general and administrative expense on the consolidated statement of income. As of March 31, 2025 and December 31, 2024, the amortized cost basis of notes receivable in nonaccrual status was $5.1 million and $5.3 million, respectively.

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