Core Viewpoint - Atlanticus Holdings Corporation has successfully priced an offering of $400 million aggregate principal amount of 9.750% Senior Notes due 2030, expected to be issued on August 20, 2025, subject to customary closing conditions [1]. Group 1: Offering Details - The offering consists of $400 million in Senior Notes with a 9.750% interest rate, maturing in 2030 [1]. - The proceeds from the offering will be used to repay amounts under recourse warehouse facilities, for general corporate purposes, and to pay fees and expenses related to the offering [2]. Group 2: Regulatory Compliance - The Notes are being offered to "qualified institutional buyers" under Rule 144A and to certain non-U.S. persons outside the United States in accordance with Regulation S [3]. - The Notes and related guarantees have not been registered under the Securities Act and cannot be sold in the U.S. without registration or an exemption [3]. Group 3: Company Overview - Atlanticus Holdings Corporation provides inclusive financial services through proprietary analytics, having serviced over 20 million customers and originated over $44 billion in consumer loans over 25 years [5]. - The company offers various consumer loan products, including retail and healthcare private label credit and general-purpose credit cards, through an omnichannel platform [5].

Core Viewpoint - Atlanticus Holdings Corporation reported significant growth in its financial results for the second quarter of 2025, achieving a net margin growth of 35.8% compared to the previous year, with a total of 4 million accounts served [1][3][6]. Financial and Operating Highlights - Total operating revenue and other income increased by 24.8% to $393.8 million compared to the second quarter of 2024 [6][11]. - Managed receivables rose by 26.1% to $3.0 billion, driven by growth in private label credit and general purpose credit card products [6][8]. - The company originated a record 590,000 new accounts and funded a record $998 million in purchase volume during the quarter [3][6]. - Net income attributable to common shareholders increased by 57.8% to $28.4 million, or $1.51 per diluted share [21][29]. Management Commentary - The company emphasized that its growth was achieved without taking on additional risk, focusing instead on expanding access to its credit-as-a-service platform through marketing initiatives and partnerships [4][5]. - Management expressed optimism about future growth opportunities across all channels, aiming for consistent, profitable results [5][6]. Revenue Breakdown - The revenue sources included interest income, finance charges, late fees on consumer loans, and other fees related to credit products [9][11]. - The company expects continued growth in interest income and related fees throughout 2025, particularly in private label credit receivables [10][11]. Expense Analysis - Total operating expenses increased by 33.7% compared to the same period in 2024, primarily due to higher marketing costs and variable servicing costs associated with growth in receivables [17][19]. - Interest expense for the quarter was $53.7 million, up from $37.9 million in the prior year, driven by increased outstanding debt and borrowing costs [12][14]. Shareholder Returns - The company repurchased and retired 41,381 shares of common stock at a cost of $1.92 million during the quarter, indicating a commitment to enhancing shareholder value [22].

Core Viewpoint - Atlanticus Holdings Corporation reported strong financial results for the first quarter of 2025, highlighting significant growth in net margin and total operating revenue, alongside an increase in customer accounts served. Financial Results - Total operating revenue and other income increased by 18.9% to $344.9 million compared to the first quarter of 2024 [5][10] - Net margin grew by 26.4% to $118.2 million, reflecting effective cost management and revenue generation strategies [4][20] - Net income attributable to common shareholders rose by 40.6% to $27.9 million, or $1.49 per diluted share [20][29] Customer Growth - The company added over 415,000 new accounts during the quarter, bringing the total accounts served to 3.8 million, an increase of 8.1% year-over-year [3][5] - The growth in customer accounts is attributed to the company's diversified credit-as-a-service platform, which enhances access to financial services for consumers [4][3] Managed Receivables - Managed receivables increased by 16.7% to $2.7 billion, driven by growth in both private label credit and general purpose credit card products [5][7] - The company experienced a net receivables growth of $388.7 million from March 31, 2024, indicating strong demand for its credit offerings [7] Operating Expenses - Total operating expenses rose by 27.4% to $77.4 million, primarily due to increased servicing costs and inflationary pressures on compensation [16][18] - The company anticipates continued increases in salaries and benefits as it expands its workforce to support growth initiatives [17][19] Interest Expense and Debt - Interest expense for the quarter was $47.5 million, up from $35.1 million in the prior year, driven by higher outstanding debt and increased borrowing costs [11][12] - Outstanding notes payable increased to $2.14 billion as of March 31, 2025, reflecting the addition of new credit facilities [12][13] Future Outlook - The company expects continued growth in managed receivables and operating revenue throughout 2025, supported by the addition of new retail partners and increased consumer spending [9][10] - Atlanticus aims to leverage its analytics and technology to enhance its credit offerings and achieve above-market growth rates [4][3]