Atlanticus Holdings Corporation announced its financial results for the first quarter ended March 31, 2025, on May 8, 2025. Total operating revenue and other income increased by 18.9% year-over-year to $344.9 million. Net income attributable to common shareholders saw a significant rise of 40.6% to $27.9 million, resulting in diluted earnings per share of $1.49.
Managed receivables grew by 16.7% to $2.7 billion, representing over $388.7 million in net receivables growth from March 31, 2024. The company's total accounts served expanded by 8.1% to 3.8 million, with over 400,000 new customers added. This growth was fueled by both private label credit and general purpose credit card products.
Interest expense for the quarter was $47.5 million, compared to $35.1 million in Q1 2024, primarily due to increased outstanding debt and higher borrowing costs. Outstanding notes payable reached $2,137.6 million as of March 31, 2025, including the issuance of 9.25% Senior Notes due 2029. Atlanticus repurchased 27,252 shares of common stock for $1.25 million during the quarter.
Atlanticus projects continued period-over-period growth in total interest income and related fees throughout 2025. Private label credit receivables growth is expected to outpace general purpose receivables through Q2 2025, with a shift towards stronger general purpose credit card growth in Q3 and Q4 2025. The company anticipates ongoing increases in salaries, benefits, and marketing costs, partially mitigated by reductions in servicing costs per account due to automation and scale.
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