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Dec 31, 2022
Atlanticus Q4 2022 Earnings Report
Reported fourth quarter and full year 2022 financial results, achieving over $1 billion in annual revenue with consecutive revenue growth.
Key Takeaways
Atlanticus Holdings Corporation reported a 24.1% increase in total operating revenue for Q4 2022, reaching $268.7 million. Net income attributable to common shareholders was $17.7 million, or $0.98 per diluted common share. The company's purchase volume increased by 1.4% to $625.2 million.
Total operating revenue increased 24.1% to $268.7 million.
Purchase volume increased 1.4% to $625.2 million.
Net income attributable to common shareholders was $17.7 million, or $0.98 per diluted common share.
Managed receivables increased 31.6% to $2.1 billion.
Atlanticus
Atlanticus
Forward Guidance
Atlanticus anticipates continued growth and improvement in asset performance metrics, driven by strategic actions and favorable economic trends. The company expects to increase its growth rate while maintaining a focus on asset level profitability and capital availability.
Positive Outlook
- Continued improvement in early asset performance metrics.
- Strong cash position and attractive fixed rate financings.
- Ongoing investment in technology is bearing fruit.
- Unique customer experience through Financial Empowerment Platform.
- Substantial opportunity for long term value creation.
Challenges Ahead
- Ongoing inflationary pressures felt across serviced customers and partners.
- Tightening in underwriting leading to materially slower growth in the second half of the year.
- Receivables performance is coming off of historic lows in delinquency in 2020 and 2021.
- Prudently slowed rate of growth in the near term.
- Increases in loan delinquencies.