7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 
      
    		                       
      cash flows from operating activities:
    		                       
      net income
    		44,274,000 38,178,000 11,671,000 9,720,000 14,457,000 14,903,000 12,250,000 10,155,000 5,008,000 10,110,000 13,666,000  43,198,000           
      adjustments to reconcile net income to net cash from operating activities:
    		                       
      net fair value adjustments
    		38,375,000 27,869,000 29,251,000 24,980,000 33,595,000 51,395,000 44,689,000 53,892,000 41,366,000 23,442,000 15,414,000 15,774,000 619,000 -9,647,000 -15,249,000 -10,700,000 -2,705,000 4,098,000 5,321,000 8,435,000 696,000 6,378,000 101,738,000 
      change in fair value of loan servicing assets
    		11,912,000 13,665,000 17,058,000 15,291,000 24,772,000 15,868,000 19,428,000 20,831,000 12,100,000 17,074,000 12,576,000 19,301,000 15,915,000 21,034,000 16,979,000 14,524,000 14,984,000 12,763,000 11,837,000     
      gain on sales of loans
    		-17,799,000 -13,540,000 -12,202,000 -15,007,000 -12,433,000 -10,748,000 -10,909,000 -11,921,000 -8,572,000 -13,221,000 -14,125,000 -18,352,000 -23,554,000 -29,319,000 -24,110,000 -20,569,000 -21,907,000 -19,317,000 -8,323,000 -7,088,000 -7,739,000 -1,724,000 -14,261,000 
      benefit from credit losses
    		46,280,000 39,733,000 58,149,000 63,238,000 47,541,000 35,561,000 31,927,000 41,907,000 64,479,000 66,595,000 70,584,000 61,512,000 82,739,000 70,566,000 52,509,000 45,149,000 37,524,000 34,634,000 21,493,000     
      accretion of loan deferred fees and costs
    		-15,984,000 -15,713,000 -15,834,000 -15,555,000 -16,294,000 -17,857,000 -18,829,000 -16,237,000 -24,194,000 -26,182,000 -24,110,000 -22,652,000 -22,094,000 -22,140,000 -19,252,000         
      stock-based compensation
    		8,499,000 9,065,000 8,519,000 9,542,000 9,534,000 9,449,000 11,544,000 10,267,000 14,406,000 15,828,000 11,888,000 16,152,000 16,743,000 17,773,000 15,694,000 17,438,000 16,810,000 17,710,000 14,801,000 14,078,000 15,122,000 14,204,000 18,129,000 
      depreciation and amortization
    		16,879,000 15,460,000 13,909,000 19,748,000 13,341,000 13,072,000 12,673,000 11,953,000 11,250,000 11,638,000 12,354,000 11,554,000 10,681,000 10,557,000 11,039,000     12,197,000 12,348,000 16,611,000 12,873,000 
      other
    		1,749,000 2,721,000 3,172,000 4,386,000 5,110,000 2,278,000 -1,020,000 -458,000 -2,111,000 -2,693,000 -3,670,000 -2,343,000 -2,005,000 961,000 1,559,000 469,000 2,542,000 3,095,000 2,548,000 -660,000 2,721,000 6,132,000 729,000 
      net change to loans held for sale
    		-902,132,000 -868,774,000 -448,379,000 -295,169,000 -825,749,000 -1,052,697,000 -928,163,000 -944,637,000 -452,053,000 -189,085,000 50,738,000 -34,959,000 -23,796,000 96,388,000 -29,601,000 19,612,000 37,065,000 -9,035,000 -42,786,000     
      net change in operating assets and liabilities:
    		                       
      other assets
    		12,499,000 18,635,000 5,442,000 2,675,000 11,490,000 6,251,000 2,006,000 31,272,000 9,557,000 -526,000 14,591,000 -5,610,000 -4,504,000 -7,091,000 443,000 -2,123,000 -2,314,000 4,994,000 -10,290,000 -23,041,000 5,508,000 36,069,000 1,192,000 
      other liabilities
    		-15,375,000 19,607,000 -10,012,000 -9,222,000 24,808,000 68,000 -22,112,000 -21,829,000 -16,166,000 -4,337,000 -45,414,000 -27,438,000 21,336,000 -4,560,000 -10,174,000 32,372,000 -19,646,000 23,979,000 -10,333,000     
      net cash from operating activities
    		-770,823,000 -713,094,000 -339,256,000 -185,373,000 -669,828,000 -932,457,000 -846,516,000 -814,805,000 -344,930,000 -91,357,000 114,492,000 33,350,000 110,263,000 191,282,000 40,673,000 121,582,000 85,667,000 83,986,000 -51,366,000 53,074,000 419,324,000 162,080,000 -216,447,000 
      capex
    		-21,003,000 -90,694,000 -13,066,000 -17,220,000 -12,436,000 -12,865,000 -11,781,000 -11,270,000 -15,984,000 -15,857,000 -16,398,000 -14,822,000 -17,301,000 -15,783,000 -21,575,000 -9,978,000 -9,451,000 -8,619,000 -6,365,000 -6,564,000 -5,000,000 -8,148,000 -11,435,000 
      free cash flows
    		-791,826,000 -803,788,000 -352,322,000 -202,593,000 -682,264,000 -945,322,000 -858,297,000 -826,075,000 -360,914,000 -107,214,000 98,094,000 18,528,000 92,962,000 175,499,000 19,098,000 111,604,000 76,216,000 75,367,000 -57,731,000 46,510,000 414,324,000 153,932,000 -227,882,000 
      cash flows from investing activities:
    		                       
      net change in loans and leases
    		164,201,000 -705,000 85,848,000 203,555,000 -862,564,000 313,889,000 121,263,000 395,392,000 324,051,000 80,413,000 -302,580,000 -1,140,435,000 -749,579,000 -622,450,000 -258,829,000 -444,858,000 -280,040,000       
      purchases of securities available for sale
    		-19,250,000   -18,037,000 -16,408,000   -2,312,000 -14,216,000 -7,875,000 -37,245,000 0 0 -56,411,000 -166,123,000 -21,560,000 -28,388,000 -40,615,000 -9,911,000 -200,000 -6,093,000 -12,534,000 -34,909,000 
      proceeds from maturities and paydowns of securities available for sale
    		472,737,000 435,025,000 380,365,000   190,400,000 119,556,000 54,853,000 23,834,000 10,022,000 9,000,000 16,302,000 20,131,000 24,655,000 24,990,000 34,762,000 35,136,000 39,265,000 34,239,000     
      purchases of property, equipment and software
    		-21,003,000 -90,694,000 -13,066,000 -17,220,000 -12,436,000 -12,865,000 -11,781,000 -11,270,000 -15,984,000 -15,857,000 -16,398,000 -14,822,000 -17,301,000 -15,783,000 -21,575,000 -9,978,000 -9,451,000 -8,619,000 -6,365,000 -6,564,000 -5,000,000 -8,148,000 -11,435,000 
      other investing activities
    		-800,000 -399,000 -2,689,000 -966,000 -414,000 10,885,000 -12,156,000 3,930,000 -1,006,000 -929,000 -6,671,000 1,281,000 -1,681,000 -1,056,000 -2,967,000 -13,227,000 -985,000 -3,495,000 4,960,000 100,000 100,000 100,000 100,000 
      net cash from investing activities
    		595,885,000 337,025,000 450,458,000 498,090,000 -594,127,000 486,968,000 216,882,000 448,801,000 325,794,000 78,516,000 -336,414,000 -1,114,784,000 -712,889,000 -621,903,000 -360,224,000 -378,996,000 -180,508,000 -182,814,000 287,908,000 115,180,000 135,173,000 172,023,000 143,395,000 
      cash flows from financing activities:
    		                       
      net change in deposits
    		252,264,000 233,554,000 -167,601,000 -381,825,000 1,351,133,000 573,916,000 199,255,000 322,339,000 148,495,000 -375,558,000 826,117,000             
      principal payments on borrowings
    		   -2,918,000 -2,073,000 -7,230,000 -6,981,000 -1,598,000 -4,574,000 -36,783,000 -21,493,000             
      other financing activities
    		-5,977,000 -3,411,000 -750,000 -855,000 -4,279,000 -4,106,000 -4,428,000 -2,638,000 -4,129,000 -7,699,000 -5,367,000 -1,034,000 -1,670,000 -1,340,000 -4,984,000 -1,847,000 -3,830,000 -2,235,000 -1,383,000 24,618,000 -6,511,000 -6,779,000 -18,424,000 
      net cash from financing activities
    		246,287,000 230,143,000 -168,351,000 -385,598,000 1,344,781,000 312,580,000 437,846,000 309,895,000 130,677,000 -432,782,000 781,777,000 1,186,792,000 519,520,000 419,121,000 669,697,000 81,272,000 342,027,000 -179,510,000 105,853,000 -83,736,000 -483,269,000 -294,956,000 19,522,000 
      net decrease in cash, cash equivalents and restricted cash
    		71,349,000 -145,926,000 -57,149,000                   39,147,000 -53,530,000 
      cash, cash equivalents and restricted cash, beginning of period
    		0 0 977,396,000 0 0 0 1,294,148,000 0 0 0 1,124,484,000 0 0 0 763,586,000 0 0   0 0 0 487,122,000 
      cash, cash equivalents and restricted cash, end of period
    		71,349,000 -145,926,000 920,247,000 -72,881,000 80,826,000 -132,909,000 1,102,360,000 -56,109,000 111,541,000 -445,623,000 1,684,339,000 105,358,000 -83,106,000 -11,500,000 1,113,732,000 -176,142,000 247,186,000   84,518,000 71,228,000 39,147,000 433,592,000 
      supplemental cash flow information:
    		                       
      cash paid for interest
    		93,396,000 81,091,000 84,348,000 100,117,000 99,898,000 87,579,000 90,682,000    51,608,000      17,295,000   28,201,000 76,848,000 -4,768,000 43,559,000 
      cash paid for taxes
    		346,000   164,000 59,000      4,526,000             
      cash paid for operating leases included in the measurement of lease liabilities
    		3,495,000 3,456,000 3,237,000 3,289,000 3,220,000 3,271,000 3,089,000    3,156,000      5,527,000   4,593,000 4,135,000 3,568,000 4,383,000 
      supplemental non-cash investing activity:
    		                       
      net securities retained from structured program transactions
    		656,136,000 531,509,000 349,002,000 483,386,000 730,182,000 759,149,000 738,976,000              -425,000 -377,000 44,260,000 
      proceeds from short-term borrowings
    		      250,000,000                 
      income tax benefit from release of tax valuation allowance
    		           -3,180,000 -5,015,000           
      proceeds from sales, maturities and paydowns of securities available for sale
    		   330,758,000                    
      net increase in cash, cash equivalents and restricted cash
    		   -72,881,000 80,826,000 -132,909,000 -191,788,000 -56,109,000 111,541,000 -445,623,000 559,855,000 105,358,000 -83,106,000 -11,500,000 350,146,000 -176,142,000 247,186,000 -278,338,000 342,395,000 84,518,000    
      supplemental non-cash financing activity:
    		                       
      derecognition of payable to securitization note and residual certificate holders held in consolidated vie
    		                       
      acquisition of company
    		               0 0 0 -145,344,000     
      cash received from acquisition
    		               0 0 0 668,236,000     
      net decrease in retail and certificate loans
    		       8,208,000 9,115,000 12,742,000 17,480,000 22,890,000 35,541,000 49,142,000 64,280,000 75,865,000 103,220,000 120,497,000 138,288,000     
      proceeds from sales of securities available for sale
    		               0 0 0 106,192,000     
      principal payments on retail notes and certificates
    		       -8,208,000 -9,115,000 -12,742,000 -17,480,000 -33,145,000 -35,617,000 -49,140,000 -64,358,000         
      non-cash financing activity:
    		                       
      consolidated net income
    		              40,836,000 29,108,000 27,185,000 9,371,000 -47,084,000 -26,655,000 -34,325,000 -78,471,000 -48,087,000 
      adjustments to reconcile consolidated net income to net cash from operating activities:
    		                       
      net change in demand deposits and savings accounts
    		           1,268,783,000 595,834,000 550,195,000 841,689,000 317,171,000 299,124,000 166,577,000 343,787,000     
      proceeds from ppplf
    		               0        
      repayment on ppplf
    		           -27,517,000 -31,773,000 -69,927,000 -78,562,000 -120,012,000        
      proceeds from issuance of retail notes and certificates
    		                       
      principal payments on structured program borrowings
    		           -2,810,000 -4,075,000 -5,182,000 -9,356,000 -19,691,000 -23,678,000 -24,427,000 -22,391,000     
      proceeds from issuance of notes and certificates from structured program transactions
    		                    0 0 186,190,000 
      principal payments on short-term borrowings
    		           -2,185,000 -3,179,000 -5,485,000 -14,732,000 -18,477,000 -22,811,000 -21,444,000 -24,908,000     
      principal payments on long-term debt
    		               0 0       
      deemed dividend paid to preferred stockholder
    		                    0 0 -50,204,000 
      year ended december 31,
    		                       
      non-cash investing activity:
    		                       
      loans and leases held for investment transferred to loans held for sale
    		                63,683,000       
      non-cash investing and financing activity:
    		                       
      transfer of whole loans to redeem certificates
    		                   0 0 0 17,414,000 
      net issuances of stock related to acquisition
    		                0       
      exchange of common stock for preferred stock
    		                   0 0 0 207,244,000 
      depreciation, amortization, and accretion
    		               -3,698,000 -3,871,000 1,694,000 11,450,000     
      net decrease in retail notes and certificates
    		                -103,242,000 -120,542,000 -138,376,000     
      accruals for property, equipment and software
    		                   -574,000 237,000 -1,416,000 2,439,000 
      principal payments on advances from ppplf
    		                 -174,605,000 -50,876,000     
      non-cash investing activity :
    		                       
      net increase in loans and leases
    		                  -502,387,000     
      change in fair value of loan servicing assets and liabilities
    		                   10,690,000 13,376,000 25,061,000 9,603,000 
      goodwill impairment charge
    		                       
      purchase of loans held for sale
    		                   -587,434,000 -276,921,000 -73,095,000 -1,842,043,000 
      principal payments received on loans held for sale
    		                   28,749,000 51,750,000 78,336,000 74,475,000 
      proceeds from whole loan sales and structured program transactions, net of underwriting fees and costs
    		                   618,148,000 635,726,000 151,482,000 1,576,072,000 
      accrued interest receivable
    		                   230,000 2,619,000 -1,959,000 -5,938,000 
      accounts payable
    		                   441,000 383,000 -2,306,000 -5,440,000 
      accrued interest payable
    		                   -1,257,000 -1,951,000 -1,249,000 -231,000 
      accrued expenses and other liabilities
    		                   1,023,000 14,348,000 -12,790,000 -44,405,000 
      payable to investors
    		                       
      purchase of loans
    		                       
      principal payments received on loans
    		                   141,088,000 160,646,000 172,742,000 217,060,000 
      proceeds from recoveries and sales of charged-off loans
    		                   8,383,000 10,692,000 9,304,000 13,799,000 
      proceeds from sales, maturities, redemptions and paydowns of securities available for sale
    		                   19,644,000 17,693,000 31,793,000 30,500,000 
      proceeds from paydowns of asset-backed securities related to structured program transactions
    		                   30,461,000 34,536,000 34,114,000 32,934,000 
      proceeds from issuance of notes and certificates
    		                   77,712,000 77,389,000 55,274,000 104,620,000 
      repayments of secured borrowings
    		                   -1,870,000 -3,266,000 -4,764,000 -6,967,000 
      principal payments on and retirements of notes and certificates
    		                   -138,825,000 -156,811,000 -166,877,000 -208,846,000 
      payments on notes and certificates from recoveries/sales of related charged-off loans
    		                       
      principal payments on securitization notes
    		                   -22,075,000 -23,237,000 -21,487,000 -6,911,000 
      proceeds from issuance of securitization notes and certificates
    		                       
      proceeds from credit facilities and securities sold under repurchase agreements
    		                   90,210,000 54,500,000 71,012,000 979,539,000 
      principal payments on credit facilities and securities sold under repurchase agreements
    		                   -104,049,000 -414,473,000 -212,058,000 -946,038,000 
      payment for debt issuance costs
    		                   -1,588,000 0 -16,000 -248,000 
      net cash inflow (outflow) from consolidation (deconsolidation) of vie
    		                       
      dividends paid on preferred stock
    		                       
      securities retained from structured program transactions
    		                       
      change in payable to investors
    		                    -14,337,000 -599,000 -50,853,000 
      purchases of loans
    		                    -77,401,000 -55,348,000 -104,654,000 
      payments on notes, certificates, and secured borrowings from recoveries/sales of related charged-off loans
    		                    -10,860,000 -9,261,000 -13,189,000 
      proceeds from sales of whole loans
    		                       
      proceeds from secured borrowings
    		                       
      repurchases of common stock
    		                       
      proceeds from issuances under equity incentive plans, net of tax
    		                       
      proceeds from issuance of common stock for espp
    		                       
      purchase of noncontrolling interests in consolidated vie
    		                       
      securities retained (sold) from structured program transactions
    		                       
      noncontrolling interests’ contribution of beneficial interests in consolidated vie
    		                       
      issuance of payable to securitization residual certificate holders
    		                       
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.