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Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Total revenues $ 38,588,501 $ 31,386,446 $ 104,292,258 $ 86,704,258
Costs and expenses:        
Depreciation and impairment of lease merchandise 14,486,564 13,061,958 43,021,351 42,893,163
Loan origination costs and fees 677,913 1,389,107 2,395,780 4,878,158
Cost of retail revenues 923,203 0 2,593,505 0
Marketing 2,005,559 1,671,137 6,316,945 4,258,904
Salaries and benefits 4,049,422 3,231,100 12,357,955 8,933,998
Operating expenses 6,888,348 6,080,725 20,628,182 17,666,366
Total costs and expenses 29,031,009 25,434,027 87,313,718 78,630,589
Operating income 9,557,492 5,952,419 16,978,540 8,073,669
Interest expense including amortization of debt issuance costs (5,672,594) (4,746,801) (16,213,843) (13,846,685)
Income/ (loss) before income taxes 3,884,898 1,205,618 764,697 (5,773,016)
Income taxes (expense)/ benefit (1,518,514) (265,517) (215,550) 1,185,247
Net income/ (loss) 2,366,384 940,101 549,147 (4,587,769)
Dividends on Series 2 Convertible Preferred Shares (1,176,402) (1,069,456) (3,337,600) (3,034,182)
Net income/ (loss) attributable to common and Series 1 Convertible Preferred shareholders - basic 1,189,982 (129,355) (2,788,453) (7,621,951)
Net income/ (loss) attributable to common and Series 1 Convertible Preferred shareholders - diluted $ 1,189,982 $ (129,355) $ (2,788,453) $ (7,621,951)
Basic and diluted income/ (loss) per common share:        
Basic (in dollars per share) $ 0.05 $ (0.01) $ (0.13) $ (0.35)
Diluted (in dollars per share) $ 0.05 $ (0.01) $ (0.13) $ (0.35)
WEIGHTED AVERAGE COMMON SHARES:        
Basic (in shares) 21,586,935 21,716,852 21,547,702 21,740,027
Diluted (in shares) 22,231,788 21,716,852 21,547,702 21,740,027
Lease revenues and fees, net        
Revenues:        
Total revenues $ 28,364,190 $ 21,082,199 $ 81,271,973 $ 68,703,201
Loan revenues and fees, net of changes in fair value        
Revenues:        
Total revenues 9,047,165 10,304,247 19,692,817 18,001,057
Retail revenues        
Revenues:        
Total revenues $ 1,177,146 $ 0 $ 3,327,468 $ 0