Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenue    
Interest income $ 66,394 $ 68,692
Rental income 83 1,846
Gain on sale of assets 18,668 28,611
Securitization asset income 6,999 4,898
Other income 4,797 1,769
Total revenue 96,941 105,816
Expenses    
Interest expense 64,677 61,872
Provision (benefit) for loss on receivables and securitization assets 3,812 2,022
Compensation and benefits 24,980 20,676
General and administrative 9,378 9,053
Total expenses 102,847 93,623
Income (loss) before equity method investments (5,906) 12,193
Income (loss) from equity method investments 87,989 158,550
Income (loss) before income taxes 82,083 170,743
Income tax (expense) benefit (23,898) (46,195)
Net income (loss) 58,185 124,548
Net income (loss) attributable to non-controlling interest holders 1,573 1,523
Net income (loss) attributable to controlling stockholders $ 56,612 $ 123,025
Basic earnings (loss) per common share (in usd per share) $ 0.47 $ 1.08
Diluted earnings (loss) per common share (in usd per share) $ 0.44 $ 0.98
Weighted average common shares outstanding—basic (in shares) 119,381,781 112,617,809
Weighted average common shares outstanding—diluted (in shares) 137,956,858 130,998,775