Atlanticus Holdings Corp. Files 2023 Annual Report on Form 10-K
Ticker: ATLCZ · Form: 10-K · Filed: Mar 4, 2024 · CIK: 1464343
| Field | Detail |
|---|---|
| Company | Atlanticus Holdings CORP (ATLCZ) |
| Form Type | 10-K |
| Filed Date | Mar 4, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $39 billion |
| Sentiment | neutral |
Sentiment: neutral
Topics: Atlanticus Holdings, 10-K Filing, Financial Report, Net Income, Debt-to-Equity Ratio
TL;DR
<b>Atlanticus Holdings Corp. filed its 2023 10-K, reporting $3.26 billion in assets and $81.4 million in net income.</b>
AI Summary
Atlanticus Holdings Corp (ATLCZ) filed a Annual Report (10-K) with the SEC on March 4, 2024. Atlanticus Holdings Corp. reported total assets of $3,256,561,000 as of December 31, 2023. The company's net income for the fiscal year ending December 31, 2023, was $81,400,000. Total debt for Atlanticus Holdings Corp. was $3,204,640,000 as of December 31, 2023. Revenue for the fiscal year ending December 31, 2023, was $2,128,600,000. The company's filing indicates a debt-to-equity ratio of 9.5 as of December 31, 2023.
Why It Matters
For investors and stakeholders tracking Atlanticus Holdings Corp, this filing contains several important signals. The filing provides a comprehensive overview of Atlanticus Holdings Corp.'s financial performance and position for the fiscal year 2023, including detailed asset, liability, and income figures. Key financial metrics such as revenue, net income, and debt levels are disclosed, offering insights into the company's operational results and financial health.
Risk Assessment
Risk Level: medium — Atlanticus Holdings Corp shows moderate risk based on this filing. The company's significant debt load, indicated by a debt-to-equity ratio of 9.5, presents a medium risk due to potential financial strain and interest payment obligations.
Analyst Insight
Monitor the company's debt management strategies and its ability to service its substantial debt obligations in the coming fiscal periods.
Revenue Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Revenue | 2,128,600,000 |
Key Numbers
- 3,256,561,000 — Total Assets (As of December 31, 2023)
- 81,400,000 — Net Income (For the fiscal year ended December 31, 2023)
- 3,204,640,000 — Total Debt (As of December 31, 2023)
- 2,128,600,000 — Revenue (For the fiscal year ended December 31, 2023)
- 9.5 — Debt/Equity Ratio (As of December 31, 2023)
- 2023-12-31 — Fiscal Year End (Reported period)
- 2024-03-04 — Filing Date (Date of submission)
Key Players & Entities
- Atlanticus Holdings Corp. (company) — Filer of the 10-K report
- 2023 (date) — Fiscal year end
- 10-K (document) — Filing type
- GA (location) — State of incorporation
- 582336689 (identifier) — IRS number
- 0001464343 (identifier) — Central Index Key
FAQ
When did Atlanticus Holdings Corp file this 10-K?
Atlanticus Holdings Corp filed this Annual Report (10-K) with the SEC on March 4, 2024.
What is a 10-K filing?
A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Atlanticus Holdings Corp (ATLCZ).
Where can I read the original 10-K filing from Atlanticus Holdings Corp?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Atlanticus Holdings Corp.
What are the key takeaways from Atlanticus Holdings Corp's 10-K?
Atlanticus Holdings Corp filed this 10-K on March 4, 2024. Key takeaways: Atlanticus Holdings Corp. reported total assets of $3,256,561,000 as of December 31, 2023.. The company's net income for the fiscal year ending December 31, 2023, was $81,400,000.. Total debt for Atlanticus Holdings Corp. was $3,204,640,000 as of December 31, 2023..
Is Atlanticus Holdings Corp a risky investment based on this filing?
Based on this 10-K, Atlanticus Holdings Corp presents a moderate-risk profile. The company's significant debt load, indicated by a debt-to-equity ratio of 9.5, presents a medium risk due to potential financial strain and interest payment obligations.
What should investors do after reading Atlanticus Holdings Corp's 10-K?
Monitor the company's debt management strategies and its ability to service its substantial debt obligations in the coming fiscal periods. The overall sentiment from this filing is neutral.
Risk Factors
- Variable Interest Entities (VIEs) [medium — financial]: Loans are associated with VIEs, and creditors do not have recourse against the general assets of the Company but only to the collateral within the VIEs.
- Covenants on Loans [medium — financial]: Loans are subject to affirmative covenants tied to default rates and performance metrics, which could result in required early repayment.
- Modification of Notes [low — financial]: Notes reflecting modifications to extend maturity or increase loan amounts are treated as accounting modifications.
Filing Stats: 4,399 words · 18 min read · ~15 pages · Grade level 15.6 · Accepted 2024-03-04 17:22:27
Key Financial Figures
- $39 billion — nfrastructure built from servicing over $39 billion in consumer loans over more than 25 yea
Filing Documents
- atlc20231231c_10k.htm (10-K) — 2436KB
- ex_629334.htm (EX-4.1) — 348KB
- ex_624378.htm (EX-10.8) — 6KB
- ex_624379.htm (EX-10.12A) — 455KB
- ex_629335.htm (EX-19.1) — 38KB
- ex_600561.htm (EX-21.1) — 23KB
- ex_600562.htm (EX-23.1) — 3KB
- ex_600563.htm (EX-31.1) — 11KB
- ex_600564.htm (EX-31.2) — 11KB
- ex_600565.htm (EX-32.1) — 7KB
- ex_629336.htm (EX-97.1) — 28KB
- atlanticus.jpg (GRAPHIC) — 12KB
- 0001437749-24-006440.txt ( ) — 11807KB
- atlc-20231231.xsd (EX-101.SCH) — 85KB
- atlc-20231231_cal.xml (EX-101.CAL) — 70KB
- atlc-20231231_def.xml (EX-101.DEF) — 581KB
- atlc-20231231_lab.xml (EX-101.LAB) — 530KB
- atlc-20231231_pre.xml (EX-101.PRE) — 628KB
- atlc20231231c_10k_htm.xml (XML) — 1812KB
Business
Business 1 Item 1A.
Risk Factors
Risk Factors 6 Item 1B. Unresolved Staff Comments 20 Item 1C. Cybersecurity Risk Management Strategy 20 Item 2.
Properties
Properties 20 Item 3.
Legal Proceedings
Legal Proceedings 20 Item 4. Mine Safety Disclosure 20 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 21 Item 6. [Reserved] 22 Item 7.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 7A.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 38 Item 8.
Financial Statements and Supplementary Data
Financial Statements and Supplementary Data 39 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 39 Item 9A.
Controls and Procedures
Controls and Procedures 39 Item 9B. Other Information 40 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspection 40 PART III Item 10. Directors, Executive Officers and Corporate Governance 41 Item 11.
Executive Compensation
Executive Compensation 41 Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 41 Item 13. Certain Relationships and Related Transactions, and Director Independence 41 Item 14. Principal Accountant Fees and Services 41 PART IV Item 15. Exhibits and Financial Statement Schedules 42 Item 16. Form 10-K Summary 44 Table of Contents In this Report, except as the context suggests otherwise, the words "Company," "Atlanticus Holdings Corporation," "Atlanticus," "we," "our," "ours" and "us" refer to Atlanticus Holdings Corporation and its subsidiaries and predecessors. Atlanticus owns Aspire , Emerge , Fortiva , Imagine , Salute , Tribute and other trademarks and service marks in the United States ("U.S.") and the United Kingdom ("U.K."). Cautionary Notice Regarding Forward-Looking Statements We make forward-looking statements in this Report and in other materials we file with the Securities and Exchange Commission ("SEC") or otherwise make public. In addition, our senior management might make forward-looking statements to analysts, investors, the media and others. Statements with respect to the macroeconomic environment monetary policy by the Federal Reserve expected revenue income receivables income ratios net interest margins long-term shareholder returns acquisitions of financial assets and other growth opportunities divestitures and discontinuations of businesses loss exposure and loss provisions delinquency and charge-off rates inflation energy prices the developing metaverse the extent and duration of the government's response to the COVID-19 pandemic and its impact on the Company, our bank partners, merchant network, financing sources, borrowers, loan demand, labor markets, supply chain, legal and regulatory matters, borrower payment patterns, information security and consumer privacy, capital markets, the economy in general and changes in the U.S. economy that could materially impact consumer spending behavior, unemploy
BUSINESS
BUSINESS This Report contains information that we obtained from industry and general publications and research, surveys and studies conducted by third parties. This information involves many assumptions and limitations, and you are cautioned not to give undue weight to any of this data. We have obtained this information from sources that we believe are reliable. However, we have not independently verified market or industry data from third party sources. General A general discussion of our business follows. For additional information about our business, please visit our website at www.Atlanticus.com . Information contained on or available through our website is not incorporated by reference in this Report. Atlanticus is a financial technology company powering more inclusive financial solutions for everyday Americans. We leverage data, analytics, and innovative technology to unlock access to financial solutions for the millions of Americans who would otherwise be underserved. We are principally engaged in providing products and services to lenders in the U.S. and, in most cases, we invest in the receivables originated by lenders who utilize our technology platform and other related services. In the private label credit channel, we partner with retailers, health care providers and service providers in various industries across the U.S. to allow them to provide credit to their customers for the purchase of a variety of goods and services including consumer electronics, furniture, elective medical procedures, healthcare, and home-improvements. From time to time, we also purchase receivables portfolios from third parties. Subject to the availability of capital at attractive terms and pricing, we plan to continue to evaluate and pursue a variety of activities, including: (1) investments in additional financial assets associated with private label credit and general purpose credit card activities as well as the acquisition of interests in receivables portfolios; (2)