Financial Performance - Revenue increased to $24.2 million in Q3 2025 from $23.5 million in Q3 2024[3] - Adjusted EBITDA increased to $5.6 million in Q3 2025 from $4.5 million in Q3 2024[3] - The company experienced a net loss of $7.569 million in Q3 2025, compared to a net income of $1.437 million in Q3 2024[19] - Adjusted EBITDA margin was 23% in Q3 2025, compared to 19% in Q3 2024[20] Loan Origination - Total certified loans decreased to 23,880 in Q3 2025 from 27,435 in Q3 2024[3] - Facilitated loan origination volume decreased to $701.7 million in Q3 2025 from $772.5 million in Q3 2024[16] - Average loan size increased to $29,384 in Q3 2025 from $28,156 in Q3 2024[16] Loan Portfolio Mix - CU/Bank channel loans accounted for 89.8% of the total in Q3 2025, up from 79.5% in Q3 2024, while OEM loans accounted for 10.2%, down from 20.5%[5] - Used vehicle certs accounted for 87.5% of the total in Q3 2025, compared to 87.1% in Q3 2024[8] - Direct certs accounted for 19.8% of the total in Q3 2025, compared to 19.5% in Q3 2024[8,18] - Refinance certs accounted for 5.8% of the total in Q3 2025, compared to 3.2% in Q3 2024[8,18] Credit Profile - Credit builder loans accounted for 6.3% of the total in Q3 2025[11]

Financial Performance - Revenue decreased from $26.7 million in Q2 2024 to $25.3 million in Q2 2025[3] - Adjusted EBITDA decreased from $6.8 million in Q2 2024 to $4.1 million in Q2 2025[3] - Adjusted EBITDA margin decreased from 25% to 16%[22] - Net income decreased from $2.902 million in Q2 2024 to $1.034 million in Q2 2025[21] Loan Origination - Total certs decreased from 28,963 in Q2 2024 to 26,522 in Q2 2025[3] - Facilitated loan origination volume decreased from $819.3 million in Q2 2024 to $783.3 million in Q2 2025[18, 20] - Average loan size increased from $28,286 in Q2 2024 to $29,535 in Q2 2025[18, 20] Channel and Vehicle Mix - OEM certs decreased from 23.9% of total in Q2 2024 to 11.1% in Q2 2025[6, 10] - CU/Bank certs increased from 76.1% of total in Q2 2024 to 88.9% in Q2 2025[6] - New vehicle certs as a percentage of total increased slightly from 12.7% to 13.1%[10, 20] - Used vehicle certs accounted for 86.9% of total certs in Q2 2025[10, 20]