Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue        
Interest income $ 54,295 $ 34,303 $ 145,624 $ 97,904
Rental income 6,039 6,609 19,013 19,716
Gain on sale of assets 22,405 14,490 52,915 51,252
Securitization asset income 5,620 4,403 13,381 9,943
Other income 1,492 345 2,353 2,614
Total revenue 89,851 60,150 233,286 181,429
Expenses        
Interest expense 43,295 29,556 120,413 85,035
Provision (benefit) for loss on receivables and securitization assets 9,792 (2,463) 12,481 6,222
Compensation and benefits 16,296 12,933 48,527 50,108
General and administrative 6,708 8,150 24,826 22,696
Total expenses 76,091 48,176 206,247 164,061
Income before equity method investments 13,760 11,974 27,039 17,368
Income (loss) from equity method investments 2,759 30,552 27,429 58,533
Income (loss) before income taxes 16,519 42,526 54,468 75,901
Income tax (expense) benefit 5,128 (7,585) 5,299 (13,794)
Net income (loss) 21,647 34,941 59,767 62,107
Net income (loss) attributable to non-controlling interest holders 201 407 692 676
Net income (loss) attributable to controlling stockholders $ 21,446 $ 34,534 $ 59,075 $ 61,431
Basic earnings (loss) per common share (in usd per share) $ 0.20 $ 0.39 $ 0.59 $ 0.70
Diluted earnings (loss) per common share (in usd per share) $ 0.20 $ 0.38 $ 0.59 $ 0.69
Weighted average common shares outstanding—basic (in shares) 107,715,057 87,721,756 98,665,598 86,784,895
Weighted average common shares outstanding—diluted (in shares) 109,145,088 90,762,820 101,142,782 89,928,741