Business
Atlanticus Reports Third Quarter 2021 Financial Results
Net Income Attributable to Common Shareholders Increases to $40.3 Million, or $1.96 per Share ATLANTA, Nov. 12, 2021 (GLOBE NEWSWIRE) -- Atlanticus Holdings
About this update from Atlanticus Holdings Corporation
[{"type":"text","content":"Net Income Attributable to Common Shareholders Increases to $40.3 Million, or $1.96 per Share\nATLANTA, Nov. 12, 2021 (GLOBE NEWSWIRE) -- Atlanticus Holdings Corporation (NASDAQ: ATLC) (“Atlanticus,” “the Company”, “we,” “our” or “us”), a financial technology company which enables its bank, retail and healthcare partners to offer more inclusive financial services to millions of everyday Americans, today announced its financial results for the third quarter ended September 30, 2021. Financial and Operating Highlights 2021 Third Quarter compared to 2020 Third Quarter Total operating revenue increased 41.8% to $203.9 million.Purchase volume increased 55.7% to $610.5 million.The number of total customers we serve(1) increased 59.8% to 2.6 million. Since the start of the third quarter 2021, customers served increased by over 388,000, or 17.7%.Managed receivables(2) associated with our Credit and Other Investments Segment increased 46.5% to $1.4 billion, and 15.9% over second quarter 2021.Net income attributable to common shareholders increased 18.4% to $40.3 million, or $1.96 per diluted common share, an increase of 14.0%.Adjusted net income(2), which adjusts for the $16.2 million ($13.2 million tax effected) loss on repurchase and redemption of convertible senior notes, increased 57.1% to $53.5 million, or $2.60 per diluted common share, an increase of 50.9%.On a trailing twelve months basis, net income attributable to common shareholders increased 137.1% to $133.8 million, or $6.56 per diluted common share, an increase of 125.4%.On a trailing twelve months basis, adjusted net income, which adjusts for the $29.4 million ($24.1 million tax effected) loss on repurchase and redemption of convertible senior notes, increased 179.7% to $157.8 million or $7.71 per diluted common share, an increase of 165.0%. (1) In our calculation of total customers, we include all customers with account activity and customers who have open lines of credit at the end of the referenced period. (2) Managed receivables and Adjusted net income are non-GAAP financial measures. See “Non-GAAP Financial Measures” for important additional information. Management Commentary Jeff Howard, President and Chief Executive Officer, stated, \"Atlanticus continued to deliver excellent results, reporting significant growth across our two main operating lines, general purpose ...