Q2 2023 Earnings

Financial Services Financial - Credit Services

Income Statement

Revenue

$459M+16.3% YoY

Gross Profit

$237M51.6% margin

Operating Income

$27M6.0% margin

Net Income

$27M6.0% margin

EPS (Diluted)

$0.73

QoQ Revenue Growth

-3.5%

Cash Flow

Operating Cash Flow

$76M

Free Cash Flow

$63M

Stock-Based Comp.

$4M

Balance Sheet

Total Assets

$17.8B

Total Liabilities

$14.6B

Stockholders' Equity

$3.3B

Cash & Equivalents

$122M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$459M	$394M	+16.3%
Gross Profit	$237M	$311M	-23.9%
Operating Income	$27M	$108M	-74.7%
Net Income	$27M	$85M	-67.8%

Revenue Segments

Loan Servicing And Systems Revenue

$122M33%

Education Technology Services And Payment Processing Services

$110M30%

Education Technology And Services

$46M13%

Payment Processing

$32M9%

Tuition Payment Plan Services

$31M8%

Private Education And Consumer Loan Servicing

$12M3%

Software Services

$6M2%

Outsourced Services Revenue And Other

$5M1%

FFELP Servicing

$4M1%

Other Service Offering

$990,0000%