Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (6,000) $ (73,406)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Provision for credit losses on consumer receivables 23,044 5,708
Depreciation and amortization expense 3,421 514
Change in deferred fees and costs, net 259 1,694
Change in fair value of warrants (3,910) 31,230
Change in fair value of subordinated convertible notes 39,939
Change in fair value of contingent consideration from mergers and acquisitions 682
Losses (gains) on foreign currency translation 29 (4)
Expenses related to debt modification and prepayments 730
Stock compensation expense 3,268 518
Deferred income taxes (28,442)
Changes in assets and liabilities, net of effects of business combination:    
Accrued interest receivable (34) (83)
Enterprise receivables 1,658 71
Other assets 666 11
Accounts payable and accrued liabilities (2,350) (2,901)
Other liabilities (1,672)
Net cash (used in) provided by operating activities (8,651) 3,291
Cash flows from investing activities:    
Net originations and collections of finance receivables (22,872) (15,110)
Purchase of property, equipment and software (823) (35)
Acquisition of Even Financial, net of cash acquired (18,584)
Net cash used in investing activities (42,279) (15,145)
Cash flows from financing activities:    
Repayments to secured/senior lenders (24,028) (1,127)
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 421 245
Contributions from redeemable noncontrolling interests 16,844
Distributions to noncontrolling interests (1,969)
Net cash provided by financing activities 53,693 50,743
Net change in cash and restricted cash 2,763 38,889
Cash and restricted cash, beginning of period 246,224 20,927
Cash and restricted cash, end of period 248,987 59,816
Supplemental disclosure of cash flow information:    
Cash paid for interest 4,990 569
Supplemental disclosure of non-cash investing and financing activities:    
Accrued dividends on preferred stock 1,028 4,842
Lease liabilities incurred in exchange for operating right-of-use assets $ 6,578