Q1 2023 Earnings

Financial Services Financial - Credit Services

Income Statement

Revenue

$475M-3.8% YoY

Gross Profit

$241M50.8% margin

Operating Income

$31M6.6% margin

Net Income

$26M5.6% margin

EPS (Diluted)

$0.71

QoQ Revenue Growth

+0.4%

Cash Flow

Operating Cash Flow

$123M

Free Cash Flow

$98M

Stock-Based Comp.

$4M

Balance Sheet

Total Assets

$18.1B

Total Liabilities

$14.9B

Stockholders' Equity

$3.2B

Cash & Equivalents

$188M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$475M	$494M	-3.8%
Gross Profit	$241M	$446M	-45.9%
Operating Income	$31M	$241M	-87.0%
Net Income	$26M	$187M	-85.8%

Revenue Segments

Loan Servicing And Systems Revenue

$139M32%

Education Technology Services And Payment Processing Services

$134M31%

Education Technology And Services

$55M13%

Payment Processing

$44M10%

Tuition Payment Plan Services

$34M8%

Private Education And Consumer Loan Servicing

$12M3%

Software Services

$10M2%

Outsourced Services Revenue And Other

$5M1%

FFELP Servicing

$3M1%

Other Service Offering

$588,0000%