Atlanticus Holdings Corp Financials
This page shows Atlanticus Holdings Corp (ATLC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Balance-sheet expansion is driving Atlanticus: assets and liabilities scaled far faster than earnings, making cash generation increasingly dependent on external funding.
In FY2025, operating cash flow of$638M comfortably exceeded net income of$121M , so accounting earnings did turn into cash. Yet investing outflows were large enough to require$1.14B of financing cash, and that balance-sheet-led growth coincided with ROA roughly halving to1.6% by FY2025.
The business kept a very high gross profit margin near
Equity rose to
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Atlanticus Holdings Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Atlanticus Holdings Corp's revenue surged 38.8% year-over-year to $557.2M, reflecting rapid business expansion. This strong growth earns a score of 76/100.
Atlanticus Holdings Corp has elevated debt relative to equity (D/E of 11.47), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
Atlanticus Holdings Corp's ROE of 19.8% shows moderate profitability relative to equity, earning a score of 59/100. This is down from 22.3% the prior year.
Atlanticus Holdings Corp passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Atlanticus Holdings Corp generates $5.29 in operating cash flow ($638.0M OCF vs $120.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Atlanticus Holdings Corp generated $557.2M in revenue in fiscal year 2025. This represents an increase of 38.8% from the prior year.
Atlanticus Holdings Corp reported $120.6M in net income in fiscal year 2025. This represents an increase of 9.5% from the prior year.
Atlanticus Holdings Corp earned $5.96 per diluted share (EPS) in fiscal year 2025. This represents an increase of 24.9% from the prior year.
Cash & Balance Sheet
Atlanticus Holdings Corp held $621.1M in cash against $0 in long-term debt as of fiscal year 2025.
Atlanticus Holdings Corp had 15M shares outstanding in fiscal year 2025. This represents an increase of 0.1% from the prior year.
Margins & Returns
Atlanticus Holdings Corp's gross margin was 71.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.6 percentage points from the prior year.
Atlanticus Holdings Corp's net profit margin was 21.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 5.8 percentage points from the prior year.
Atlanticus Holdings Corp's ROE was 19.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.5 percentage points from the prior year.
Capital Allocation
Atlanticus Holdings Corp spent $69.6M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 32.1% from the prior year.
ATLC Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $189.7M+7.9% | $175.9M+24.9% | $140.8M+15.1% | $122.3M+3.5% | $118.2M+0.6% | $117.5M+17.0% | $100.4M+11.4% | $90.1M |
| Cost of Revenue | $44.9M-19.2% | $55.6M+42.4% | $39.0M+14.5% | $34.1M+6.0% | $32.2M-10.2% | $35.8M+27.6% | $28.1M+1.3% | $27.7M |
| Gross Profit | $144.8M+20.4% | $120.3M+18.2% | $101.8M+15.4% | $88.2M+2.5% | $86.1M+5.4% | $81.7M+13.0% | $72.3M+15.9% | $62.4M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $28.6M+27.4% | $22.5M+23.6% | $18.2M+36.0% | $13.4M-13.7% | $15.5M+23.4% | $12.6M+2.1% | $12.3M+2.7% | $12.0M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $122.8M-2.0% | $125.2M+65.9% | $75.5M+40.6% | $53.7M+12.9% | $47.5M+6.4% | $44.7M+5.1% | $42.5M+12.0% | $37.9M |
| Income Tax | $14.3M+22.9% | $11.6M+47.1% | $7.9M-19.9% | $9.9M+1.1% | $9.7M+9.6% | $8.9M+9.9% | $8.1M+80.9% | $4.5M |
| Net Income | $44.2M+31.7% | $33.5M+34.3% | $25.0M-18.3% | $30.6M-3.0% | $31.5M+4.7% | $30.1M+1.9% | $29.5M+21.7% | $24.3M |
| EPS (Diluted) | $2.23 | N/A | $1.21-19.9% | $1.51+1.3% | $1.49 | N/A | $1.27+28.3% | $0.99 |
ATLC Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $7.5B-2.1% | $7.6B+7.7% | $7.1B+94.3% | $3.6B+11.3% | $3.3B0.0% | $3.3B+7.6% | $3.0B+7.1% | $2.8B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $651.1M+4.8% | $621.1M+46.1% | $425.0M+29.0% | $329.4M-6.0% | $350.4M-6.7% | $375.4M+21.6% | $308.7M-12.0% | $350.9M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $6.8B-2.8% | $7.0B+8.1% | $6.5B+112.1% | $3.0B+12.6% | $2.7B+0.4% | $2.7B+8.9% | $2.5B+9.0% | $2.3B |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $648.4M+6.5% | $608.7M+3.3% | $589.3M+4.6% | $563.3M+5.7% | $532.7M+8.1% | $492.9M+7.7% | $457.7M+5.5% | $433.8M |
| Retained Earnings | $548.3M+8.3% | $506.4M+6.9% | $473.6M+5.0% | $450.9M+6.7% | $422.6M+7.1% | $394.6M+7.1% | $368.3M+6.7% | $345.1M |
ATLC Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $286.3M+7.5% | $266.3M+147.8% | $107.5M-19.0% | $132.7M+0.8% | $131.6M+7.3% | $122.6M+9.1% | $112.4M-2.8% | $115.6M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$51.2M+89.4% | -$484.5M+4.4% | -$506.9M-25.0% | -$405.5M-253.0% | -$114.9M+34.7% | -$176.0M+42.5% | -$306.3M-55.3% | -$197.2M |
| Financing Cash Flow | -$198.5M-143.2% | $459.8M+4.0% | $442.2M+50.1% | $294.6M+637.0% | -$54.9M-132.6% | $168.3M-1.8% | $171.5M+2565.0% | $6.4M |
| Dividends Paid | $600K | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $3.8M-76.6% | $16.4M+65424.0% | $25K-98.7% | $1.9M-96.3% | $51.2M+104.7% | $25.0M-3.1% | $25.8M+1928.6% | $1.3M |
ATLC Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 76.3%+7.9pp | 68.4%-3.9pp | 72.3%+0.2pp | 72.1%-0.7pp | 72.8%+3.3pp | 69.5%-2.5pp | 72.0%+2.8pp | 69.3% |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 23.3%+4.2pp | 19.1%+1.3pp | 17.7%-7.3pp | 25.0%-1.7pp | 26.7%+1.0pp | 25.6%-3.8pp | 29.4%+2.5pp | 27.0% |
| Return on Equity | 6.8%+1.3pp | 5.5%+1.3pp | 4.2%-1.2pp | 5.4%-0.5pp | 5.9%-0.2pp | 6.1%-0.3pp | 6.5%+0.9pp | 5.6% |
| Return on Assets | 0.6%+0.1pp | 0.4%+0.1pp | 0.4%-0.5pp | 0.8%-0.1pp | 1.0%+0.0pp | 0.9%-0.1pp | 1.0%+0.1pp | 0.9% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 10.46-1.0 | 11.47+0.5 | 10.95+5.5 | 5.40+0.3 | 5.07-0.4 | 5.46+0.1 | 5.40+0.2 | 5.22 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Atlanticus Holdings Corp's annual revenue?
Atlanticus Holdings Corp (ATLC) reported $557.2M in total revenue for fiscal year 2025. This represents a 38.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Atlanticus Holdings Corp's revenue growing?
Atlanticus Holdings Corp (ATLC) revenue grew by 38.8% year-over-year, from $401.4M to $557.2M in fiscal year 2025.
Is Atlanticus Holdings Corp profitable?
Yes, Atlanticus Holdings Corp (ATLC) reported a net income of $120.6M in fiscal year 2025, with a net profit margin of 21.6%.
What is Atlanticus Holdings Corp's gross margin?
Atlanticus Holdings Corp (ATLC) had a gross margin of 71.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Atlanticus Holdings Corp's net profit margin?
Atlanticus Holdings Corp (ATLC) had a net profit margin of 21.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Atlanticus Holdings Corp's return on equity (ROE)?
Atlanticus Holdings Corp (ATLC) has a return on equity of 19.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Atlanticus Holdings Corp's operating cash flow?
Atlanticus Holdings Corp (ATLC) generated $638.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Atlanticus Holdings Corp's total assets?
Atlanticus Holdings Corp (ATLC) had $7.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Atlanticus Holdings Corp's debt-to-equity ratio?
Atlanticus Holdings Corp (ATLC) had a debt-to-equity ratio of 11.47 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Atlanticus Holdings Corp's return on assets (ROA)?
Atlanticus Holdings Corp (ATLC) had a return on assets of 1.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Atlanticus Holdings Corp's Piotroski F-Score?
Atlanticus Holdings Corp (ATLC) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Atlanticus Holdings Corp's earnings high quality?
Atlanticus Holdings Corp (ATLC) has an earnings quality ratio of 5.29x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Atlanticus Holdings Corp?
Atlanticus Holdings Corp (ATLC) scores 23 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.