ExtraCash Receivables, Net

9 Months Ended

Sep. 30, 2025

Note 6 ExtraCash Receivables, Net

ExtraCash receivables, net, represent outstanding ExtraCash originations, processing fees, tips and overdraft service fees, less an allowance for credit losses.

Below is a detail of ExtraCash receivables, net as of September 30, 2025 (in thousands):


Days From Origination	Gross ExtraCash Receivables		Allowance for Credit Losses			ExtraCash Receivables, Net
1-10	$	201,228	$	(2,755	)	$	198,473
11-30		69,761		(11,187	)		58,574
31-60		15,777		(9,482	)		6,295
61-90		11,526		(8,531	)		2,995
91-120		10,219		(8,262	)		1,957
Total	$	308,511	$	(40,217	)	$	268,294

Below is a detail of ExtraCash receivables, net as of December 31, 2024 (in thousands):


Days From Origination	Gross ExtraCash Receivables		Allowance for Credit Losses			ExtraCash Receivables, Net
1-10	$	142,623	$	(2,112	)	$	140,511
11-30		36,198		(6,223	)		29,975
31-60		7,882		(4,937	)		2,945
61-90		6,140		(4,712	)		1,428
91-120		5,717		(4,719	)		998
Total	$	198,560	$	(22,703	)	$	175,857

The roll-forward of the allowance for credit losses is as follows (in thousands):


Opening allowance balance at January 1, 2025	$	22,703
Plus: provision for credit losses		65,744
Plus: amounts recovered		12,206
Less: amounts written-off		(60,436	)
Ending allowance balance at September 30, 2025	$	40,217

Opening allowance balance at January 1, 2024	$	20,310
Plus: provision for credit losses		37,988
Plus: amounts recovered		9,467
Less: amounts written-off		(46,632	)
Ending allowance balance at September 30, 2024	$	21,133

The provision for credit losses for the nine months ended September 30, 2025 increased compared to the period ended September 30, 2024, primarily due to ExtraCash origination volume growth from approximately $3.6 billion to $5.3 billion, driven by strong Member demand and platform expansion. Credit performance evolved as expected with portfolio maturation, reflecting natural seasoning dynamics and the Company's strategic emphasis on maximizing gross profit dollars. Loss rates increased moderately in line with anticipated seasonal patterns and portfolio scaling. The increase in write-offs for the nine months ended September 30, 2025 was similarly driven by higher origination volume and the maturing credit profile of the expanding portfolio.