Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue        
Interest income $ 62,779 $ 48,222 $ 131,471 $ 91,330
Rental income 83 6,487 1,929 12,973
Gain on sale of assets 25,795 14,791 54,405 30,510
Securitization asset income 5,218 4,330 10,116 7,762
Other income 642 504 2,411 860
Total revenue 94,517 74,334 200,332 143,435
Expenses        
Interest expense 59,530 39,903 121,403 77,118
Provision (benefit) for loss on receivables and securitization assets (4,198) 806 (2,177) 2,689
Compensation and benefits 20,814 13,862 41,490 32,232
General and administrative 7,955 10,095 17,007 18,117
Total expenses 84,101 64,666 177,723 130,156
Income before equity method investments 10,416 9,669 22,609 13,279
Income (loss) from equity method investments 26,874 2,252 185,424 24,670
Income (loss) before income taxes 37,290 11,921 208,033 37,949
Income tax (expense) benefit (10,346) 1,601 (56,541) 171
Net income (loss) 26,944 13,522 151,492 38,120
Net income (loss) attributable to non-controlling interest holders 404 0 1,926 492
Net income (loss) attributable to controlling stockholders $ 26,540 $ 13,522 $ 149,566 $ 37,628
Basic earnings (loss) per common share (in usd per share) $ 0.23 $ 0.14 $ 1.31 $ 0.39
Diluted earnings (loss) per common share (in usd per share) $ 0.23 $ 0.14 $ 1.22 $ 0.39
Weighted average common shares outstanding—basic (in shares) 114,329,692 96,996,805 113,473,750 94,065,873
Weighted average common shares outstanding—diluted (in shares) 114,433,285 99,989,158 131,922,504 97,075,329