ATLC

MKT CAP:$1B

Atlanticus Holdings Corporation

Market Cap

$1B

Financial Services·Financial - Credit Services·🇺🇸 United States·NASDAQ

Financials·Financial·🇺🇸·NASDAQ

Stock Price

$78.93+$12.58 (+18.96%)

Apr 24, 2026

Company Details

Atlanticus Holdings Corporation provides credit and related financial services and products to customers the United States. It operates in two segments, Credit as a Service, and Auto Finance. The Credit as a Service segment originates a ran...

CEO

Jeffrey A. Howard

IPO Date

Apr 23, 1999

Website

www.atlanticus.com

Key Metrics TTM

Revenue

$1.9B

+309.2% YoY

Net Income

$117M

EPS (Diluted)

$5.25

Free Cash Flow

$619M

Revenue / Share

$96.51

Gross Margin

99.0%

Operating Margin

14.7%

Net Margin

6.3%

FCF Margin

33.4%

P/S

0.6x

P/E

10.1x

Earnings Reports

Q1 2026

May 14, 2026

PENDING

Q4 2025

Mar 12, 2026

$1.5B+1033.4%EPS $1.75

FY 2024

Dec 12, 2025

$460M+25.7%EPS $4.77

Q4 2024

Dec 12, 2025

$133M+35.5%EPS $1.42

Q2 2024

Dec 12, 2025

$102MEPS $0.99

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 17	$26M	-$3M	-$14M
Q3 18	$43M	-$1M	-$16M
Q4 18	$77M	$34M	$24M
Q3 19	$109M	$30M	$16M
Q2 20	$94M	$50M	$28M
Q3 20	$96M	$66M	$48M
Q4 20	$88M	$53M	$31M
Q1 21	$100M	$83M	$52M
Q2 21	$105M	$80M	$47M
Q3 21	$126M	$104M	$58M
Q4 21	$123M	$95M	$63M
Q4 23	$98M	$65M	$31M
Q1 24	$105M	$67M	$33M
Q2 24	$102M	$62M	$29M
Q4 24	$133M	$82M	$40M
Q4 25	$1.5B	$1.6B	$171M

Valuation

Quarter	P/S	P/E
Q3 17	0.4x	—
Q3 18	0.5x	—
Q4 18	0.3x	—
Q3 19	0.5x	21.9x
Q2 20	0.5x	3.6x
Q3 20	0.5x	1.8x
Q4 20	0.9x	3.4x
Q1 21	1.0x	3.0x
Q2 21	1.7x	4.5x
Q3 21	1.9x	5.3x
Q4 21	3.0x	7.7x
Q4 23	1.2x	3.3x
Q1 24	0.9x	2.9x
Q2 24	1.0x	3.3x
Q4 24	1.9x	7.8x
Q4 25	0.6x	9.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 17	-$22M	-$23M
Q3 18	-$12M	-$12M
Q4 18	$45M	$43M
Q3 19	$31M	$30M
Q2 20	$49M	$48M
Q3 20	$64M	$64M
Q4 20	$65M	$65M
Q1 21	$53M	$53M
Q2 21	$72M	$72M
Q3 21	$15M	$15M
Q4 21	$72M	$72M
Q4 23	$133M	$133M
Q1 24	$119M	$119M
Q2 24	$116M	$116M
Q4 24	$123M	$121M
Q4 25	$266M	$264M

Capital Expenditures

Quarter	CapEx
Q3 17	$150.0K
Q3 18	$50.0K
Q4 18	$1M
Q3 19	$102.0K
Q2 20	$615.0K
Q3 20	$31.0K
Q4 20	$4.0K
Q1 21	$73.0K
Q2 21	$22.0K
Q3 21	$49.0K
Q4 21	$95.0K
Q4 23	$83.0K
Q1 24	$64.0K
Q2 24	$67.0K
Q4 24	$2M
Q4 25	$3M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 17	+46.0%	+28.5%
Q3 18	+138.5%	+164.4%
Q4 18	+239.4%	+151.1%
Q3 19	+349.6%	+146.5%
Q2 20	+257.7%	+62.3%
Q3 20	+123.5%	-19.2%
Q4 20	+14.1%	+5.7%
Q1 21	-8.1%	-47.9%
Q2 21	+11.3%	-12.4%
Q3 21	+31.4%	+43.0%
Q4 21	+39.1%	+5.2%
Q4 23	-1.4%	+40.9%
Q1 24	-0.4%	+23.6%
Q2 24	-19.0%	+7.9%
Q4 24	+8.5%	+55.8%
Q4 25	+1436.0%	+1879.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 17	$0	0.0%
Q3 18	$251.0K	0.6%
Q4 18	$0	0.0%
Q3 19	$840.0K	0.8%
Q2 20	$281.0K	0.3%
Q3 20	$303.0K	0.3%
Q4 20	$403.0K	0.5%
Q1 21	$545.0K	0.5%
Q2 21	$687.0K	0.7%
Q3 21	$1M	0.9%
Q4 21	$916.0K	0.7%
Q4 23	$913.0K	0.9%
Q1 24	$940.0K	0.9%
Q2 24	$1M	1.1%
Q4 24	$928.0K	0.7%
Q4 25	$2M	0.1%

OpEx Breakdown

Quarter	G&A	S&M
Q3 17	$6M	$3M
Q3 18	$6M	$4M
Q4 18	$6M	$4M
Q3 19	$6M	$11M
Q2 20	$7M	$10M
Q3 20	$7M	$7M
Q4 20	$8M	$8M
Q1 21	$8M	$10M
Q2 21	$8M	$14M
Q3 21	$8M	$16M
Q4 21	$9M	$16M
Q4 23	$11M	$15M
Q1 24	$13M	$10M
Q2 24	$12M	$14M
Q4 24	$13M	$17M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$373M	$0	$373M
Q2 22	$316M	$0	$316M
Q3 22	$353M	$0	$353M
Q4 22	$385M	$0	$385M
Q1 23	$390M	$0	$390M
Q2 23	$343M	$0	$343M
Q3 23	$356M	$0	$356M
Q4 23	$339M	$0	$339M
Q1 24	$445M	$0	$445M
Q2 24	$407M	$0	$407M
Q3 24	$309M	$0	$309M
Q4 24	$375M	$0	$375M
Q1 25	$350M	$0	$350M
Q2 25	$329M	$0	$329M
Q3 25	$425M	$0	$425M
Q4 25	$767M	$0	$767M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 17	14M	0.0%	+0.5%
Q3 18	14M	-0.6%	-0.5%
Q4 18	15M	+5.8%	+5.3%
Q3 19	16M	+6.4%	+11.9%
Q2 20	20M	+29.9%	+45.4%
Q3 20	20M	-1.0%	+44.9%
Q4 20	21M	+3.9%	+42.2%
Q1 21	21M	0.0%	+33.7%
Q2 21	21M	+0.4%	+3.3%
Q3 21	21M	-0.8%	+3.5%
Q4 21	21M	0.0%	-0.4%
Q4 23	19M	-10.3%	-10.7%
Q1 24	19M	+0.1%	-10.9%
Q2 24	19M	+0.4%	-9.8%
Q4 24	19M	+0.7%	-9.2%
Q4 25	19M	+1.3%	+2.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 17	$90.5K	292
Q3 18	$144.5K	297
Q4 18	$249.9K	310
Q3 19	$350.7K	310
Q2 20	$296.2K	319
Q3 20	$300.6K	319
Q4 20	$270.3K	327
Q1 21	$305.4K	327
Q2 21	$321.5K	327
Q3 21	$385.3K	327
Q4 21	$371.5K	331
Q4 23	$255.0K	386
Q1 24	$271.3K	386
Q2 24	$264.4K	386
Q4 24	$319.8K	417
Q4 25	$3M	576

Revenue / Employee