7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 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
    		25,412,000 26,170,000 18,648,000 15,617,000 14,711,000 17,333,000 17,167,000 12,168,000 12,222,000 10,736,000 8,227,000 10,290,000   8,353,000 8,022,000 9,453,000 3,396,000 9,576,000 3,481,000 2,141,000 2,579,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                      
      depreciation and amortization
    		123,000 132,000 138,000 283,000 185,000 182,000 185,000 186,000 186,000 195,000 191,000 204,000 195,000 206,000 236,000 280,000 302,000 301,000 301,000 312,000 303,000 303,000 
      amortization of right-of-use assets
    		200,000 206,000 469,000 332,000 372,000 344,000 570,000 333,000 332,000 310,000 341,000 315,000 334,000 330,000 407,000 320,000 198,000 367,000 311,000 307,000 310,000 299,000 
      benefit from credit losses
    		381,000 1,598,000 1,872,000 -68,000                   
      origination of loans held for sale
    		-2,070,000 -40,923,000 -4,886,000    0 -18,948,000 0 -19,088,000 -15,136,000        0 0 3,000 -96,067,000 
      proceeds from sales of loans held for sale
    		-1,000      6,001,000 0 18,081,000 1,735,000         0 0 0 80,858,000 
      net accretion of discount on purchased loans and amortization of deferred loan origination costs
    		998,000 1,037,000 954,000 1,007,000 1,228,000 1,082,000  1,317,000 1,274,000 1,172,000             
      benefit from uncollectible corporate and escrow advances receivable
    		                      
      gain on disposition of loans
    		0   -43,000 -252,000 -539,000 -79,000 155,000 -222,000 -680,000 873,000 237,000 -555,000 -4,254,000 -2,031,000 -147,000 -2,006,000 -2,592,000 -4,702,000 563,000   
      real estate acquired through foreclosure in excess of recorded investment
    		-4,574,000 -5,141,000 -2,834,000 -2,248,000 -2,914,000 -1,160,000 -1,403,000 -3,761,000 -1,015,000 -1,233,000 -1,264,000 -636,000 -1,222,000 -286,000 -326,000 -159,000 -385,000 -247,000 -154,000   -346,000 
      amortization of debt issuance discount and costs
    		2,324,000 2,449,000 2,894,000 3,129,000 3,055,000 3,284,000 3,440,000 4,570,000 5,335,000 5,279,000 5,767,000 5,571,000 4,864,000 12,092,000 6,136,000 3,932,000 3,753,000 6,403,000 3,349,000 3,945,000 2,687,000 6,175,000 
      change in valuation of real estate owned
    		6,307,000 2,150,000 2,073,000 1,642,000 539,000 1,722,000 1,417,000 816,000 492,000 1,178,000 88,000 369,000 142,000 -235,000 140,000 384,000 800,000 435,000 -10,000 528,000 648,000 568,000 
      change in valuation of fair value loans
    		-30,982,000 -29,906,000 -34,836,000 -35,530,000 -17,124,000 -18,925,000 -39,367,000 2,011,000 -3,140,000 -7,354,000 -7,796,000 -453,000 -6,000 -10,000 -11,000 0 -20,000 2,000 -31,000 -379,000 13,000 -45,000 
      change in valuation of mortgage servicing rights
    		343,000 142,000 1,081,000 993,000 373,000 -444,000 1,208,000 -341,000 -302,000 95,000 630,000 -1,430,000 -776,000 -510,000         
      change in valuation of fair value securitized debt
    		9,988,000 7,584,000 13,682,000 24,996,000 4,643,000 2,318,000 24,085,000 -9,692,000               
      gain on sale of real estate owned
    		-152,000 -790,000 -300,000   -286,000 -456,000 -151,000 160,000 -121,000 -140,000 -1,179,000 -1,300,000 -320,000 -169,000 -78,000 26,000 -188,000 8,000 -257,000 -346,000 -49,000 
      stock-based compensation
    		2,154,000 2,029,000 1,970,000 1,574,000 1,565,000 1,371,000 923,000 1,179,000 1,026,000 1,000,000 933,000 931,000 810,000 669,000 564,000 565,000 545,000 485,000 253,000 252,000 253,000 207,000 
      hedging activities
    		-149,000 -1,852,000 -1,552,000 -6,385,000                   
      deferred tax benefit
    		                      
      change in operating assets and liabilities:
    		                      
      accrued interest and other receivables
    		-5,888,000 -3,146,000 -5,004,000 1,986,000 -6,015,000 456,000 -8,491,000 -1,655,000 -789,000 -2,458,000 -2,468,000 -3,273,000 190,000 -1,870,000 -2,244,000 -567,000 -3,276,000 2,800,000 -54,000 -1,109,000 -5,528,000 1,088,000 
      other assets
    		4,155,000 -6,589,000 430,000 4,081,000 -5,180,000 -286,000 2,182,000 1,085,000 4,148,000 946,000 4,552,000 -7,713,000 -4,024,000 -858,000 150,000 569,000 -151,000 -930,000 9,186,000 -4,137,000 1,176,000 -2,151,000 
      accounts payable and accrued expenses
    		7,015,000 7,610,000 5,147,000 2,317,000 12,021,000 2,660,000 18,198,000 -310,000 10,764,000 -6,960,000 12,824,000 -4,245,000 -11,730,000 589,000 2,559,000 7,442,000 3,314,000 3,137,000 2,613,000 5,289,000 2,723,000 433,000 
      net cash from operating activities
    		11,452,000 7,662,000 3,536,000 -17,571,000 11,472,000 10,581,000 26,159,000 -9,753,000 44,357,000 -11,928,000 40,018,000 -4,444,000 1,264,000 11,836,000 18,048,000 18,678,000 10,472,000 10,424,000 17,528,000 13,624,000 22,374,000 1,366,000 
      capex
    		-66,000 -78,000 -80,000 -65,000 -84,000 -41,000 -108,000 -24,000 0 -48,000 -53,000 -56,000 -151,000 -66,000 -31,000 -2,000 -53,000 -49,000 -2,000 -42,000 -57,000 -625,000 
      free cash flows
    		11,386,000 7,584,000 3,456,000 -17,636,000 11,388,000 10,540,000 26,051,000 -9,777,000 44,357,000 -11,976,000 39,965,000 -4,500,000 1,113,000 11,770,000 18,017,000 18,676,000 10,419,000 10,375,000 17,526,000 13,582,000 22,317,000 741,000 
      cash flows from investing activities:
    		                      
      purchase of loans held for investment
    		   -1,096,000 -3,523,000 -11,591,000 -2,860,000 -2,417,000   -1,234,000 -11,976,000 -392,000 -4,629,000 -11,174,000 -5,922,000   0 0 0 -3,571,000 
      origination of loans held for investment
    		-713,016,000 -684,465,000 -635,537,000 -457,829,000 -422,225,000 -378,671,000 -351,644,000 -271,633,000 -258,646,000 -197,888,000 -263,878,000 -442,417,000 -447,564,000 -585,713,000 -503,229,000 -344,301,000 -260,013,000 -236,484,000 -181,810,000 -8,197,000 0 -153,600,000 
      proceeds from sales of loans originally classified as held for investment
    		   978,000 34,154,000 15,072,000 0 -4,000 0 21,489,000 68,412,000 0 76,720,000 147,340,000 36,670,000 -174,925,000 216,118,000 57,924,000     
      payments of loans held for investment and loans at fair value
    		                      
      proceeds from sale of real estate owned
    		11,862,000 14,518,000 8,019,000 3,842,000 10,215,000 5,741,000 2,769,000 9,567,000 7,290,000 2,121,000 3,929,000 9,274,000 4,664,000 4,630,000 2,178,000 3,383,000 1,134,000 2,942,000 1,602,000 3,040,000 1,625,000 1,202,000 
      capitalized improvement on real estate held for sale
    		-80,000 0 -19,000                    
      change in corporate and escrow advances receivable
    		                      
      change in impounds and deposits
    		-1,958,000 3,334,000 -259,000 -1,480,000 1,955,000 -640,000 7,813,000 2,057,000 -1,034,000 372,000 3,587,000 1,227,000 -2,660,000 -1,244,000 7,308,000 1,727,000 1,787,000 -1,620,000 -1,111,000 635,000 -5,378,000 2,011,000 
      purchase of property and equipment
    		-66,000 -78,000 -80,000 -65,000 -84,000 -41,000 -108,000 -24,000 0 -48,000 -53,000 -56,000 -151,000 -66,000 -31,000 -2,000 -53,000 -49,000 -2,000 -42,000 -57,000 -625,000 
      proceeds from sale of property and equipment
    		   0 0 640,000                 
      purchase of mortgage servicing rights
    		   -1,180,000                   
      net cash from investing activities
    		-429,074,000 -441,198,000 -401,413,000 -279,732,000 -196,837,000 -212,444,000 -223,942,000 -148,181,000 -141,031,000 -71,578,000 -89,173,000 -311,186,000 -214,221,000 -293,658,000  -176,651,000 -85,988,000 -53,656,000 14,400,000 70,635,000 54,768,000 -52,064,000 
      cash flows from financing activities:
    		                      
      warehouse repurchase facilities advances
    		590,301,000 662,395,000 819,529,000 631,862,000 404,765,000 329,011,000  290,232,000 216,246,000 246,792,000  393,457,000 343,311,000 607,760,000 498,366,000 303,575,000 217,397,000 196,633,000 152,657,000 17,123,000 0 250,416,000 
      warehouse repurchase facilities repayments
    		-588,723,000 -901,112,000 -597,740,000 -434,703,000 -527,899,000 -303,686,000  -310,904,000 -278,174,000 -279,579,000  -262,248,000 -560,066,000 -483,600,000 -455,312,000 -196,730,000 -269,071,000 -68,261,000 -96,275,000 -158,740,000 -136,932,000 -374,732,000 
      proceeds from secured financing
    		   0 0 74,311,000     0 0 0 215,000,000 0 0 35,000,000 140,000,000     
      proceeds of securitized debt
    		671,355,000 918,977,000 415,680,000 286,965,000 488,711,000 229,368,000 200,750,000 312,638,000               
      repayment of securitized debt
    		-243,184,000 -231,018,000 -262,319,000 -198,839,000 -160,419,000 -126,568,000 -104,827,000 -137,479,000               
      debt issuance costs
    		-162,000 -790,000 -253,000 -384,000 -394,000 -2,326,000 -936,000 -753,000   -2,494,000 -3,801,000 -9,215,000 -10,084,000 -8,043,000 -3,905,000 -4,117,000 -10,959,000 -317,000 -3,284,000   
      deferred stock issuance costs
    		0 -355,000 -24,000                    
      proceeds from issuance of common stock related to warrants exercised
    		0                      
      proceeds from issuance of common stock
    		8,835,000                      
      purchase of treasury stock
    		-179,000   0 -266,000 -1,284,000 -24,000 0 -1,000 -836,000 0 0 0 -458,000         
      distribution to non-controlling interest
    		0   -185,000   0 0 -120,000 -160,000             
      net cash from financing activities
    		438,243,000 456,264,000 401,508,000 284,905,000 205,979,000 198,981,000 212,614,000 154,257,000 91,414,000 77,483,000 70,306,000 301,068,000 220,958,000 281,684,000 324,661,000 167,394,000 83,936,000 50,181,000 -38,666,000 -73,766,000 -72,736,000 35,278,000 
      net increase in cash, cash equivalents, and restricted cash
    		20,621,000 22,728,000 3,631,000 -12,398,000       21,151,000 -14,562,000 8,001,000 -138,000 2,521,000 9,421,000 8,420,000 6,949,000    -15,420,000 
      cash, cash equivalents, and restricted cash at beginning of period
    		0 0 70,830,000 0 0 61,927,000  0 0 62,056,000  0 0 47,604,000  0 0 20,293,000  0 0 27,552,000 
      cash, cash equivalents, and restricted cash at end of period
    		20,621,000 22,728,000 74,461,000 -12,398,000 20,614,000 59,045,000  -3,677,000 -5,260,000 56,033,000  -14,562,000 8,001,000 47,466,000  9,421,000 8,420,000 27,242,000  10,493,000 4,406,000 12,132,000 
      benefit from uncollectible borrower advances
    		   51,000          50,000  123,000 -214,000 261,000 353,000 344,000 75,000 99,000 
      deferred tax expense
    		 -867,000 2,963,000 -11,752,000 168,000 480,000 -1,634,000 1,174,000 664,000 2,490,000 -695,000 10,858,000 1,281,000 127,000         
      payoffs of loans held for investment and loans at fair value
    		 225,918,000 228,322,000 178,876,000     121,643,000 99,780,000 106,731,000 132,847,000 155,881,000 146,217,000 141,613,000 344,368,000 -41,333,000 124,189,000 99,805,000 78,168,000 60,614,000 103,384,000 
      change in advances
    		 -425,000 -1,859,000 -1,778,000 -1,640,000 -1,503,000 -5,347,000 1,450,000 -1,738,000 2,596,000 -6,667,000 -85,000 1,531,000 -193,000 -3,832,000 -930,000 -119,000 -548,000 -3,437,000 -2,718,000 -1,808,000 -746,000 
      benefit from (reversal of) uncollectible borrower advances
    		  627,000    278,000 -62,000               
      proceeds from issuance of common stocks
    		  28,797,000 189,000 1,501,000 155,000  523,000               
      tax withholding related to vesting of equity awards
    		  -2,162,000                    
      reversal of loan repurchase reserve
    		                      
      gain on disposal of property and equipment
    		    0 -9,000                 
      (gain) loss on sale of real estate owned
    		                      
      benefit from loan losses
    		     1,002,000  155,000 297,000 636,000    730,000    105,000 406,000 1,574,000 1,798,000 1,290,000 
      reversal of uncollectible borrower advances
    		     -4,000                 
      payoffs of loans held for investment
    		     158,549,000                 
      net decrease in cash, cash equivalents, and restricted cash
    		     -2,882,000    -6,023,000          10,493,000   
      benefit from (reversal of) loan losses
    		          -437,000 580,000           
      purchase of held for sale loans
    		              -745,000 0 1,195,000 -1,950,000 0 -1,029,000 0 -203,000 
      repayments on loans held for sale
    		              2,657,000 5,000 132,000 -121,000 -435,000 1,007,000 9,856,000 8,987,000 
      net accretion of discount on purchased loans and deferred loan origination costs
    		          1,315,000 1,713,000 2,054,000 1,927,000   1,724,000 1,368,000 1,299,000 1,023,000 941,000 1,324,000 
      loss on disposal of property and equipment
    		          0 -11,000   0 0 17,000 1,000 1,000 3,000 0 38,000 
      change in valuation of held for sale loans
    		              -2,000 -13,000 15,000 -17,000 17,000 -1,306,000 921,000 40,000 
      purchase of real estate owned
    		          0 0           
      capitalized real estate owned improvements
    		              -116,000 -49,000 -19,000 -10,000 -248,000 -251,000 -228,000 -119,000 
      proceeds from sale of investments
    		                      
      acquisition of century, net of cash acquired
    		                      
      warehouse and repurchase facilities advances
    		                      
      warehouse and repurchase facilities repayments
    		                      
      repayment of secured financing
    		          0 0 0 -170,844,000 -1,093,000 -1,094,000 -1,094,000 -78,875,000 0 0 0 -75,000,000 
      issuance of common stock
    		              0    0 0 0 100,800,000 
      cash, cash equivalents, and restricted cash at beginning of year
    		                      
      cash, cash equivalents, and restricted cash at end of year
    		                      
      (reversal of) benefit from repurchase of loans
    		                      
      benefit from repurchase of loans
    		         39,000   7,000 228,000         
      (reversal of) benefit from uncollectible borrower advances
    		         -15,000  -218,000           
      change in valuation of fair value securitizations
    		         170,000             
      proceeds of securitizations
    		         197,487,000 187,988,000 302,861,000 610,169,000 268,967,000 521,494,000 204,910,000   18,692,000 176,069,000 93,235,000 248,691,000 
      repayment of securitizations
    		         -86,221,000 -106,121,000 -129,201,000 -163,241,000 -145,057,000 -230,584,000 -139,106,000 -145,453,000 -128,357,000 -113,423,000 -104,933,000 -70,402,000 -109,566,000 
      net proceeds from issuance of preferred stock
    		                  0 -1,000   
      proceeds from issuance of warrants
    		                  0 0   
      ipo deal costs
    		                  0 0 0 -1,903,000 
      increase in operating assets and liabilities:
    		                      
      net income including noncontrolling interest
    		             3,231,000         
      benefit from held for sale loan losses
    		                      
      proceeds from insurance related to real estate owned
    		                      
      net cash from (provided by) investing activities
    		                      
      repurchase of class c preferred units
    		                      
      preferred stock issuance costs
    		                      
      (reversal of) benefit from loan losses
    		               227,000       
      accretion and amortization of loan costs
    		                      
      net deferred tax benefit
    		               -3,831,000 -3,950,000 -2,592,000   4,555,000 -1,790,000 
      stock issuance costs
    		                      
      net deferred tax expense
    		                      
      supplemental cash flow information:
    		                      
      cash paid during the period for interest
    		                    20,791,000 22,033,000 
      cash paid during the period for income taxes
    		                      
      noncash transactions from investing and financing activities:
    		                      
      transfer of loans held for investment to real estate owned
    		                    1,028,000 4,352,000 
      return paid-in-kind on class c preferred units
    		                      
      return paid-in-kind on class d preferred units
    		                      
      deferred ipo costs charged against additional paid-in capital
    		                    0 -4,000,000 
      discount (premium) on issuance of securitizations
    		                      
      gain on sale of loans
    		                     -2,271,000 
      debt issuance cost
    		                     -3,428,000 
      interest paid in kind on secured financing
    		                      
      loss on disposal of property & equipment
    		                      
      proceeds from sales of loans
    		                      
      proceeds from insurance related real estate owned
    		                      
      issuance of class d preferred units
    		                      
      redemption of class c preferred units
    		                      
      tax distributions
    		                      
      cash paid during the year for interest
    		                      
      cash paid during the year for income taxes
    		                      
      transfer of loans held for investment to loans held for sale
    		                      
    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.