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 
      
    		                   
      cash flows from operating activities
    		                   
      net income
    		31,805,000 5,607,000 -2,447,000 -2,755,000 -6,758,000 -54,470,000 -64,598,000 -42,398,000 -40,315,000 -28,165,000 -129,254,000  -56,223,000 -29,871,000 32,692,000     
      adjustments to reconcile net income to net cash from operating activities:
    		                   
      change in fair value of loans
    		-62,384,000 -28,126,000 7,062,000 -42,543,000 63,767,000 49,761,000 54,017,000             
      change in fair value of servicing assets
    		4,155,000 4,550,000 4,090,000 3,652,000 4,637,000 3,915,000 4,286,000             
      change in fair value of servicing liabilities
    		-386,000 -338,000 -285,000 -369,000 -60,000 -363,000 -454,000             
      change in fair value of beneficial interest assets
    		7,279,000 -5,884,000 -17,600,000 40,976,000 -34,758,000 3,414,000 -4,481,000             
      change in fair value of beneficial interest liabilities
    		6,706,000 12,172,000 -65,000 -65,000 3,289,000 4,371,000 4,973,000             
      change in fair value of other financial instruments
    		-3,145,000 -2,351,000 -33,000 -4,133,000 12,579,000 -5,867,000 1,551,000             
      stock-based compensation
    		34,155,000 35,511,000 29,831,000 29,796,000 33,618,000 34,209,000 35,777,000 32,766,000 35,568,000 32,596,000 74,109,000 33,910,000 36,656,000 30,329,000 25,050,000 23,061,000 20,317,000 21,186,000 8,622,000 
      gain on loan servicing rights
    		-7,925,000 -7,506,000 -4,945,000 -4,001,000 -5,551,000 -2,951,000 -2,946,000             
      gain on debt extinguishment
    		   0                
      depreciation and amortization
    		6,131,000 5,843,000 6,400,000 4,699,000 5,390,000 4,828,000 5,632,000 9,103,000 4,934,000 4,425,000 6,441,000 3,654,000 3,724,000 3,354,000 2,781,000 2,557,000 2,185,000 1,983,000 816,000 
      loan premium amortization
    		-14,384,000 -10,824,000 -8,352,000                 
      non-cash interest expense and other
    		2,216,000 1,678,000 1,325,000                 
      net changes in operating assets and liabilities:
    		                   
      purchases of loans held-for-sale
    		-2,440,455,000 -2,624,546,000 -1,345,253,000 -1,683,022,000 -1,056,233,000 -773,470,000 -796,543,000             
      proceeds from sale of loans held-for-sale
    		2,270,958,000 2,407,037,000 1,316,696,000 1,488,898,000 1,121,045,000 719,304,000 772,690,000 639,269,000 608,754,000 817,265,000 449,339,000 5,973,626,000 220,392,000 583,835,000 50,764,000     
      principal payments received for loans held-for-sale
    		55,407,000 44,886,000 38,252,000 35,879,000 41,675,000 62,494,000 52,841,000 50,164,000 37,753,000 43,880,000 57,949,000 47,969,000 37,259,000 46,462,000 20,328,000 4,261,000 722,000 1,039,000 2,637,000 
      principal payments received for loans held by consolidated securitization
    		9,839,000 9,653,000 10,280,000 11,465,000 11,818,000 12,376,000 12,338,000 12,530,000            
      settlements of beneficial interest liabilities
    		-4,052,000 -5,672,000 -5,992,000                 
      proceeds from beneficial interest assets
    		3,290,000 75,000 731,000 9,122,000 1,079,000               
      settlements of beneficial interest assets
    		-636,000 -538,000 -485,000                 
      other assets
    		-239,000 -2,373,000 6,437,000 -6,580,000 -7,832,000 6,547,000 -825,000 -8,959,000 3,853,000 -4,132,000 306,000 -4,546,000 -4,477,000 5,909,000 7,287,000 -39,236,000 -3,155,000 -9,663,000 -9,988,000 
      operating lease liability and right-of-use asset
    		-308,000 -304,000 -306,000 -207,000 -200,000 -198,000 -202,000 -8,385,000 125,000 222,000 1,216,000 2,509,000 2,430,000 2,681,000 2,584,000 2,098,000 580,000 214,000 234,000 
      accrued expenses and other liabilities
    		-13,410,000 41,288,000 -48,827,000 25,478,000 31,775,000 12,717,000 -25,846,000 15,692,000 4,350,000 1,284,000 -19,155,000 -5,806,000 -535,000 -13,866,000 -11,093,000 29,722,000 6,069,000 19,184,000 4,601,000 
      net cash from operating activities
    		-122,629,000 -120,162,000 -13,486,000 -110,926,000 179,340,000 65,295,000 52,622,000 -143,712,000 -103,433,000 162,379,000 -75,727,000 -252,877,000 -101,366,000 -53,643,000 -266,795,000 -11,144,000 43,601,000 92,804,000 43,092,000 
      capex
    		-3,963,000 -4,251,000 -6,159,000 -3,419,000 -2,494,000 -2,328,000 -1,749,000 -1,424,000 -2,946,000 -2,016,000 -5,458,000 -4,983,000 -5,523,000 -7,120,000 -5,287,000 -5,683,000 -5,287,000 -3,544,000 -601,000 
      free cash flows
    		-126,592,000 -124,413,000 -19,645,000 -114,345,000 176,846,000 62,967,000 50,873,000 -145,136,000 -106,379,000 160,363,000 -81,185,000 -257,860,000 -106,889,000 -60,763,000 -272,082,000 -16,827,000 38,314,000 89,260,000 42,491,000 
      cash flows from investing activities
    		                   
      purchases and originations of loans held-for-investment
    		-288,109,000 -228,024,000 -149,916,000 -126,516,000 -85,639,000 -64,789,000 -46,152,000             
      proceeds from sale of loans held-for-investment
    		30,948,000 18,600,000 1,647,000     198,000    2,296,000 11,910,000       
      principal payments received for loans held-for-investment
    		92,055,000 72,524,000 57,417,000 45,498,000 39,561,000 32,965,000 27,242,000 24,119,000 27,900,000 26,005,000 24,422,000 15,600,000 9,187,000 9,127,000 9,397,000 9,810,000 7,234,000 4,486,000 3,002,000 
      principal payments received for notes receivable and repayments of residual certificates
    		6,374,000 3,836,000 2,685,000 1,913,000 1,323,000 1,456,000 1,225,000 772,000 560,000 1,430,000 1,566,000 1,228,000 1,596,000 1,845,000 2,067,000 2,343,000 2,766,000 3,230,000 3,119,000 
      acquisition and settlements of beneficial interest assets
    		                   
      issuance of line of credit receivable
    		-57,701,000 24,983,000 24,856,000 -23,873,000 -22,646,000               
      repayments of line of credit receivable
    		                   
      purchases of property and equipment
    		-75,000   0 -116,000 -37,000 -684,000             
      capitalized software costs
    		-3,888,000 -4,251,000 -6,159,000 -3,419,000 -2,378,000 -2,291,000 -1,065,000 -1,424,000 -2,811,000 -1,977,000 -4,347,000 -3,246,000 -4,013,000 -3,171,000 -3,658,000 -2,212,000 -2,328,000 -1,814,000 -334,000 
      net cash from investing activities
    		-120,506,000 -109,834,000 -78,569,000 -77,909,000 -46,170,000 -76,100,000 -37,547,000 -29,893,000 -24,216,000 -38,494,000 -25,852,000 -85,113,000 -24,248,000 -9,941,000 5,177,000 -19,776,000 -84,402,000 -40,601,000 902,000 
      cash flows from financing activities
    		                   
      proceeds from borrowings
    		36,492,000     173,250,000 74,260,000 97,416,000 189,124,000 279,697,000 60,673,000 258,543,000 169,071,000 181,195,000 80,004,000 712,591,000 0 0 5,831,000 
      proceeds from convertible notes issuance, net of debt issuance costs paid to lender
    		   490,438,000                
      payment of debt issuance costs to third parties
    		                   
      repayments of borrowings
    		-54,803,000     -44,824,000 -110,175,000 -61,145,000 -117,148,000 -350,682,000 -46,962,000 -191,819,000 -107,466,000 -94,623,000 -6,990,000 -5,904,000 -2,957,000 -35,871,000 -26,584,000 
      payments for repurchases of convertible notes
    		   0                
      purchase of capped calls
    		   0            0    
      settlement of capped calls
    		   0                
      principal payments made on securitization notes
    		-10,002,000 -10,577,000 -11,444,000 -12,663,000 -14,259,000 -14,882,000 -13,564,000             
      payable to investors
    		1,731,000 8,555,000 22,941,000 -605,000 -4,724,000 10,821,000 6,893,000 1,930,000 5,917,000 -1,106,000 -49,730,000 -3,067,000 -11,868,000 -34,090,000 32,204,000 23,286,000 7,365,000 20,457,000 10,989,000 
      proceeds from issuance of common stock under employee stock purchase plan
    		3,757,000 0 4,692,000 0 3,120,000 0 4,565,000 0 2,703,000 0 5,728,000 0 3,231,000 0 4,431,000 0    
      proceeds from exercise of stock options
    		4,628,000 1,657,000 8,209,000 9,133,000 10,062,000 1,015,000 1,204,000 3,406,000 2,803,000 5,135,000 1,537,000 1,628,000 1,319,000 3,781,000 5,626,000 4,963,000 6,841,000 1,440,000 1,492,000 
      taxes paid related to net share settlement of equity awards
    		-2,000 -2,000 -5,000 -3,000 -17,000 -1,000 -1,000 -9,000 0 -1,000 -5,000 -8,000    0 0   
      net cash from financing activities
    		378,580,000 91,928,000 -44,680,000 509,331,000 -38,021,000 132,272,000 -43,711,000 26,364,000 232,784,000 -65,851,000 20,971,000 40,531,000 41,119,000 -34,689,000 83,071,000 50,400,000 595,029,000 229,264,000 -19,261,000 
      change in cash, cash equivalents and restricted cash
    		135,445,000 -138,068,000 -136,735,000                 
      cash, cash equivalents and restricted cash
    		                   
      cash, cash equivalents and restricted cash at beginning of period
    		0 0 976,263,000                 
      cash, cash equivalents and restricted cash at end of period
    		135,445,000 -138,068,000 839,528,000                 
      supplemental disclosures of cash flow information
    		                   
      cash paid for interest
    		12,404,000 14,732,000 7,378,000 8,324,000 10,285,000 12,047,000 12,463,000 14,066,000 10,241,000 4,281,000 7,959,000 4,521,000 3,876,000 2,313,000 1,763,000 478,000 269,000 1,497,000 1,030,000 
      cash paid for income taxes
    		22,000 454,000 96,000         122,000 154,000 34,000 18,000 53,000 680,000   
      supplemental disclosures of non-cash investing and financing activities
    		                   
      beneficial interests obtained in connection with loan sale
    		108,640,000 71,431,000 38,133,000 44,594,000 32,416,000 0 13,555,000             
      securities retained under unconsolidated securitization transactions
    		27,525,000                   
      capitalized stock-based compensation expense
    		2,001,000 2,595,000 3,144,000 1,511,000 1,104,000 1,159,000 546,000 776,000 1,860,000 1,372,000 2,658,000 1,413,000 1,550,000 1,370,000 1,627,000 1,021,000 1,100,000 898,000 122,000 
      settlement of borrowings in connection with loan sale
    		   0 0               
      acquisition of beneficial interest assets
    		 0 -305,000 -38,000 0 -46,306,000 -16,940,000             
      payment of debt issuance costs to third party
    		 0 -443,000 -2,490,000                
      payable to investors for beneficial interest assets
    		                   
      proceeds from warehouse borrowings
    		  53,655,000 89,694,000                
      repayments of warehouse borrowings
    		  -122,285,000 -64,173,000                
      beneficial interest assets included in payable to investors
    		      4,400,000             
      payments on beneficial interest liabilities
    		   -3,008,000 -1,325,000 -1,657,000 -710,000             
      purchases of non-marketable equity securities
    		                   
      purchase of certificates of deposit
    		                   
      proceeds from issuance of securitization notes
    		       0            
      repurchases of common stock
    		           -27,813,000 -25,028,000       
      cash, cash equivalents and restricted cash at beginning of year
    		                   
      cash, cash equivalents and restricted cash at end of year
    		                   
      cash (received) paid for income taxes
    		   8,000 37,000 125,000 88,000 324,000 7,000 164,000 -1,153,000         
      securities retained under unconsolidated securitization transaction
    		                   
      issuance costs of new convertible notes
    		   271,000                
      securities retained under consolidated securitization transaction
    		       0            
      non-cash interest expense
    		    615,000 773,000 768,000 761,000 763,000 767,000 766,000 753,000 757,000 761,000 776,000     
      other
    		    -4,790,000 -3,545,000 -2,539,000 -1,609,000 -343,000 -943,000 -974,000         
      change in cash and restricted cash
    		    95,149,000 121,467,000 -28,636,000 -147,241,000 105,135,000 58,034,000 -80,608,000 -297,459,000 -84,495,000       
      cash and restricted cash
    		                   
      cash and restricted cash at beginning of period
    		    0 0 467,787,000  0 0 532,467,000  0 0 1,191,241,000  0   
      cash and restricted cash at end of period
    		    95,149,000 121,467,000 439,151,000  105,135,000 58,034,000 451,859,000  -84,495,000 -98,273,000 1,012,694,000  554,228,000   
      payments on beneficial interest assets
    		      -1,173,000             
      change in fair value of financial instruments
    		       83,505,000 52,679,000 39,592,000 59,046,000 97,822,000 21,953,000 30,747,000 18,356,000 5,611,000 -1,672,000 -5,068,000 901,000 
      accounts payable
    		       5,572,000 87,000 384,000 -12,170,000 8,432,000 -11,633,000 11,708,000 3,371,000 -2,957,000 -7,936,000 9,187,000 -5,807,000 
      acquisition, net of cash acquired
    		               -196,000 0   
      proceeds from secondary offering, net of underwriting discounts, commissions, and offering costs
    		               0 0   
      payment of debt issuance costs
    		               0    
      cash and restricted cash at beginning of year
    		                   
      cash and restricted cash at end of year
    		                   
      residual certificates retained under unconsolidated securitization
    		                   
      issuance of common stock in connection with acquisition
    		               0 0   
      gain on loan servicing arrangement
    		        -3,472,000 -3,347,000 -3,613,000 -4,969,000 -6,038,000 -9,027,000 -8,705,000     
      purchase of loans held-for-sale
    		        -826,388,000 -740,343,000 -510,003,000 -6,347,901,000 -333,763,000 -682,575,000 -443,190,000 -138,823,000 -41,994,000 -20,071,000 -18,240,000 
      purchase of loans held-for-investment
    		        -37,426,000 -37,486,000 -46,382,000 -94,004,000 -41,418,000   -66,660,000 -50,190,000 -29,601,000 -12,947,000 
      acquisition of beneficial interests
    		        -13,078,000           
      purchase of non-marketable equity securities
    		                   
      purchase of property and equipment
    		        -135,000 -39,000 -1,111,000 -1,737,000 -1,510,000 -3,949,000 -1,629,000 -3,471,000 -2,959,000 -1,730,000 -267,000 
      payments made on securitization notes
    		                   
      beneficial interests included in payable to investors
    		        1,641,000           
      reclassification of loans
    		                   
      net income before attribution to noncontrolling interests
    		               58,944,000 29,113,000 37,284,000 10,102,000 
      incentive share expense
    		                   
      principal payments received for loans held by consolidated securitizations
    		                   
      purchase of notes receivable and residual certificates
    		                   
      proceeds from initial public offering, net of underwriting discounts and offering costs
    		                   
      payments made on securitization notes and certificates
    		                   
      distributions made to noncontrolling interests
    		                   
      proceeds from exercise of convertible preferred stock warrants
    		                   
      cash paid for amounts included in the measurement of lease liabilities
    		           3,117,000 3,197,000       
      reclassification of common stock warrant liability related to cashless exercise
    		                   
      reclassification of preferred stock warrant liability related to cash exercise
    		                   
      reclassification of common stock warrant liability to equity upon termination of repurchase option
    		                   
      purchase of loans for immediate resale
    		            -722,080,000 -1,782,442,000 -3,014,594,000 -2,840,488,000 -2,458,757,000   
      proceeds from immediate resale of loans
    		            722,080,000 1,782,442,000 3,014,594,000 2,840,488,000 2,458,757,000   
      purchase of non-marketable equity security
    		            0 0 -1,000,000     
      net increase in cash and restricted cash
    		              -178,547,000 19,480,000 554,228,000 281,467,000 24,733,000 
      reclassification of loans held-for-investment to held-for-sale
    		              109,792,000     
      gain on loan servicing arrangements and sale of noncontrolling interests
    		                  67,000 
      gain on repurchased and retired convertible preferred stock warrants
    		                   
      net proceeds from sale of loans held-for-sale
    		               22,032,000 33,354,000 19,043,000 38,140,000 
      net proceeds from sale of loans held-for-investment
    		               40,610,000 1,075,000 1,389,000 8,329,000 
      repayments of notes payable
    		                   
      repurchase and retirement of convertible preferred stock warrants
    		                   
      repurchase and retirement of convertible preferred stock
    		                   
      proceeds from issuance of notes payable
    		                   
      proceeds from issuance of convertible preferred stock, net of issuance costs
    		                   
      derecognition of loans held-for-investment in consolidated vie
    		                   
      derecognition of payable to securitization note holders and residual certificate holders
    		                   
      derecognition of notes payable held in consolidated vie
    		                   
      transfer of notes receivable and residual certificate on deconsolidation of vie
    		                   
      gain on loan servicing arrangements
    		                -2,121,000   
      noncash interest expense
    		                  18,000 
      proceeds from issuance of convertible debt
    		                   
      supplemental disclosures of non-cash operating activities
    		                   
      total right-of-use assets capitalized
    		                   
      purchase of loans for immediate resale to investors
    		                  -1,294,634,000 
      proceeds from immediate resale of loans to investors
    		                  1,294,634,000 
      beginning of period
    		                  311,333,000 
      end of period
    		                  336,066,000 
      accrued interest on convertible notes
    		                   
      purchase of loans held by consolidated securitizations
    		                   
      proceeds from the issuance of securitization notes and certificates
    		                   
      proceeds from sale of noncontrolling interests
    		                   
      beginning of year
    		                   
      end of year
    		                   
    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.