Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net loss $ (33,043) $ (112,619)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Provision for credit losses on consumer receivables 50,025 21,406
Depreciation and amortization expense 9,427 1,016
Change in deferred fees and costs, net 705 (1,380)
Change in fair value of warrants (6,861) 48,816
Change in fair value of subordinated convertible notes   49,561
Change in fair value of contingent consideration from mergers and acquisitions (3,820)  
Gain on loan forgiveness   (3,206)
Losses (gains) on foreign currency translation (58) (44)
Expenses related to debt modification and prepayments 730  
Stock compensation expense 8,516 1,839
Deferred income taxes (28,442)  
Changes in assets and liabilities, net of effects of business combination:    
Accrued interest receivable (31) (148)
Enterprise receivables (1,652) (468)
Other assets (3,020) (958)
Accounts payable and accrued liabilities 843 776
Other liabilities (2,829)  
Net cash (used in) provided by operating activities (9,510) 4,591
Cash flows from investing activities:    
Net originations and collections of finance receivables (51,947) (52,399)
Purchase of property, equipment and software (3,012) (165)
Acquisition of Even Financial, net of cash acquired (18,584)  
Net cash used in investing activities (73,543) (52,564)
Cash flows from financing activities:    
Repayments to secured/senior lenders (24,028) (139)
Fees related to debt prepayment (375)  
Proceeds from special purpose vehicle credit facilities 10,000  
Proceeds from issuance of subordinated convertible notes   36,750
Borrowings from secured lenders 69,300  
Payment of deferred financing costs (1,625)  
Proceeds from issuance of common stock related to exercise of stock options and warrants 777 251
Contributions from redeemable noncontrolling interests   31,000
Redemptions by redeemable noncontrolling interests   (4,556)
Distributions to noncontrolling interests   (4,483)
Net cash provided by financing activities 54,049 58,823
Net change in cash and restricted cash (29,004) 10,850
Cash and restricted cash, beginning of period 246,224 20,927
Cash and restricted cash, end of period 217,220 31,777
Supplemental disclosure of cash flow information:    
Cash paid for interest 12,262 1,143
Supplemental disclosure of non-cash investing and financing activities:    
Accrued dividends on preferred stock 3,204 $ (9,827)
Lease liabilities incurred in exchange for operating right-of-use assets $ 7,568