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ATLC

Atlanticus Holdings Corporation

ATLC

Atlanticus Holdings Corporation • NASDAQ
$58.95 ▼ -0.29% (-0.17)
Market Cap $892.59 M
52w High $78.91
52w Low $41.37
Dividend Yield 0%
P/E 10.47
Volume 52.87K
Outstanding Shares 15.14M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $494.676M ▲ $69.309M ▲ $24.977M ▼ 5.049% ▼ $1.5 ▼ $34.969M ▼
Q2-2025 $394.163M ▲ $48.089M ▲ $30.573M ▼ 7.756% ▼ $1.87 ▲ $41.833M ▼
Q1-2025 $345.166M ▼ $45.203M ▲ $31.52M ▲ 9.132% ▲ $1.85 ▲ $42.468M ▲
Q4-2024 $353.491M ▲ $41.788M ▲ $31.303M ▲ 8.855% ▲ $1.77 ▲ $41.269M ▲
Q3-2024 $351.224M $35.005M $29.543M 8.411% $1.58 $38.567M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $425.023M ▲ $7.08B ▲ $6.495B ▲ $589.344M ▲
Q2-2025 $329.421M ▼ $3.643B ▲ $3.084B ▲ $563.324M ▲
Q1-2025 $350.39M ▼ $3.272B ▲ $2.743B ▼ $532.712M ▲
Q4-2024 $375.416M ▲ $3.271B ▲ $2.781B ▲ $492.906M ▲
Q3-2024 $308.651M $3.04B $2.586B $457.723M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $24.588M ▼ $107.452M ▼ $-506.908M ▼ $442.158M ▲ $42.702M ▲ $107.394M ▼
Q2-2025 $30.29M ▼ $132.688M ▲ $-405.526M ▼ $294.624M ▲ $21.786M ▲ $130.545M ▲
Q1-2025 $31.122M ▼ $131.572M ▲ $-114.893M ▲ $-54.866M ▼ $-38.187M ▼ $128.893M ▲
Q4-2024 $31.303M ▲ $122.602M ▲ $-175.995M ▲ $168.32M ▼ $114.927M ▲ $121.006M ▲
Q3-2024 $28.685M $112.364M $-306.287M $171.469M $-22.454M $112.495M

Revenue by Products

Product Q3-2024Q1-2025Q2-2025Q3-2025
Merchant Fees
Merchant Fees
 $0 ▲$30.00M ▲$60.00M ▲$50.00M ▼
Other Revenue
Other Revenue
 $0 ▲$20.00M ▲$20.00M ▲$30.00M ▲
Credit and Debit Card
Credit and Debit Card
 $10.00M ▲$0 ▼$0 ▲$0 ▲
Service Charges and Other Customer Related Fees
Service Charges and Other Customer Related Fees
 $10.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown meaningfully over the five‑year period, with a particularly strong step‑up in the most recent year after a dip the year before. Despite serving higher‑risk customers, the company has kept operating profits positive and fairly stable, showing decent cost control. Net income has been consistently positive, though earnings per share have moved around, reflecting some lumpiness in results and the impact of balance sheet growth and acquisitions.

Balance Sheet

Balance Sheet The balance sheet has expanded quickly, with total assets and borrowings both rising as the company has scaled its receivables and portfolio. Equity has also grown, but at a slower pace than debt, which means the business is more leveraged than it was a few years ago. Cash on hand has stayed relatively steady, providing some liquidity cushion, but the model clearly leans on external funding and efficient capital use rather than a very conservative balance sheet.

Cash Flow

Cash Flow Operating cash flow has been positive and has generally improved over time, which is important for a lender that is growing its portfolio. Capital spending needs appear modest, so most of the cash generated by the business tends to be available after basic investment requirements. Overall, the cash‑flow profile looks supportive of continued growth, but it remains tied to credit performance and funding conditions.

Competitive Edge

Competitive Edge Atlanticus operates in a focused niche: providing credit to underserved and non‑prime consumers through partners like banks, retailers, and healthcare providers. Its long operating history, large data sets, and specialized underwriting give it a meaningful edge versus new entrants and traditional banks not tailored to this segment. The “Credit as a Service” approach and embedded partnerships create sticky relationships, but the company still faces competition from other fintech lenders, credit card issuers, and any tightening in regulation around non‑prime credit.

Innovation and R&D

Innovation and R&D Innovation is centered on data analytics, credit decision engines, and a flexible technology platform rather than traditional lab‑style R&D. The company’s use of predictive models, machine learning, and AI‑enhanced underwriting, along with products like the Aspire banking and “path to credit” programs, show a focus on product design and customer lifecycle management for underserved borrowers. The main challenge is to keep these tools improving fast enough to manage risk in a volatile segment while adapting to evolving regulatory and data‑privacy expectations.

Summary

Atlanticus has grown into a scaled, profitable specialist in non‑prime consumer credit, supported by a technology‑driven, asset‑light model and deep experience with its target market. Financial results show solid revenue and profit generation, with steady positive cash flow, but also greater balance‑sheet leverage and exposure to credit and funding cycles. Its competitive strengths lie in data, analytics, and embedded partnerships, while key risks include economic downturns, borrower credit quality, regulatory scrutiny, and integration and execution around acquisitions and new platforms. Overall, it is a specialized, higher‑risk, higher‑reward type of financial business whose performance will be closely tied to credit conditions and its ability to keep its underwriting edge.

NEWS

November 12, 2025 · 4:15 PM UTC

Atlanticus Announces Approval of Quarterly Preferred Stock Dividend

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October 22, 2025 · 7:10 AM UTC

PROG Holdings Announces Sale of Vive Credit Card Receivables Portfolio to Atlanticus

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September 11, 2025 · 5:00 PM UTC

Atlanticus Announces Acquisition of Mercury Financial LLC

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