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, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income (loss) $ 7,075 $ (9,217)
Adjustments to reconcile net income (loss) to net cash from operating activities:    
Provision for losses on receivables 20,230 16,511
Depreciation and amortization expense 6,212 6,184
Change in deferred fees and costs, net 356 616
Change in fair value of warrants (81) 149
Change in fair value of contingent consideration from mergers and acquisitions   (246)
Gain on foreign currency translation (97) (7)
Stock compensation expense 6,497 5,705
Deferred income taxes 236 (93)
Changes in assets and liabilities:    
Accrued interest receivable (38) (27)
Enterprise receivables, net (1,540) (4,130)
Other assets (1,364) (1,250)
Accounts payable and accrued liabilities (2,256) (9,805)
Other liabilities (1,591) (1,710)
Net cash provided by operating activities 33,639 2,680
Cash flows from investing activities:    
Net originations and collections of finance receivables (27,722) (19,647)
Purchase of property and equipment and software development (2,157) (1,037)
Settlement of contingent consideration related to mergers and acquisitions   (350)
Net cash used in investing activities (29,879) (21,034)
Cash flows from financing activities:    
Net proceeds from (repayments to) special purpose vehicle credit facilities 4,000 (24,000)
Payments related to issuance of common stock related to exercise of stock options and warrants, net of tax withholdings related to vesting of stock-based compensation (337) (599)
Net cash provided by (used in) financing activities 3,663 (24,599)
Net change in cash and restricted cash 7,423 (42,953)
Cash and restricted cash, beginning of period 94,479 153,709
Cash and restricted cash, end of period 101,902 110,756
Supplemental disclosure of cash flow information:    
Cash paid for interest 6,448 7,465
Supplemental disclosure of non-cash investing and financing activities:    
Accrued dividends on preferred stock   1,977
Equity issued as consideration for mergers and acquisitions   120
Equity issued as settlement of contingent consideration related to Malka Acquisition   $ 1,913
Lease liabilities incurred in exchange for operating right-of-use assets $ 8,885