Atlanticus Holdings Corporation (ATLC)
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The scanner reports triple-digit revenue growth, but at Atlanticus that is a measurement error: the data series mixes net and gross revenue. Computed cleanly, total revenue rose 96.9 percent in the first quarter of 2026 — and two-thirds of that came from an acquisition. Behind it sits a lender to weak credit that has been profitable for six straight years: over 20 percent return on equity, but $406 million of charge-offs in a single quarter and a regulatory risk that strikes at the heart of the business model. Not investment advice — just the second look these numbers demand.
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This stock currently matches 25 of our scanner strategies — each hit links to the scanner.
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Basics
Performance
Valuation
Profitability
Balance Sheet & Safety
Growth
Quality & Screener
AI Rating
Uses AIAtlanticus setzt KI operativ ein — die Kredit-Entscheidungsplattform ist laut 10-K/10-Q durch künstliche Intelligenz und Machine Learning gestützt und das Unternehmen investiert in Large Language Models für Kundenservice und Inkasso —, erzielt aber keinen Umsatz mit KI-Produkten; die KI-Risikoabsätze sind generisches Branchen-Boilerplate ohne konkrete Bedrohung des eigenen Geschäftsmodells.
View the full file — quotes, sources, reviewed filings
„Atlanticus’ decisioning platform is enhanced by artificial intelligence and machine learning, enabling fast, sound decision-making when it matters most."
Die Entscheidungsplattform von Atlanticus wird durch künstliche Intelligenz und Machine Learning verbessert und ermöglicht schnelle, fundierte Entscheidungen, wenn es am meisten darauf ankommt.
„We continually assess our collection strategies as new technologies and practices evolve and anticipate that further investments in large language models will enable us to refine our customer-centric approach to customer service and collections."
Wir überprüfen unsere Inkasso-Strategien fortlaufend, während sich neue Technologien und Verfahren entwickeln, und erwarten, dass weitere Investitionen in Large Language Models es uns ermöglichen werden, unseren kundenzentrierten Ansatz bei Kundenservice und Forderungseinzug zu verfeinern.
„Using our technology and proprietary predictive analytics, lenders can make instant credit decisions utilizing hundreds of inputs from multiple sources and thereby offer credit to consumers overlooked by many providers of financing that focus exclusively on consumers with higher FICO scores. Atlanticus’ decisioning platform is enhanced by artificial intelligence and machine learning, enabling fast, sound decision-making when it matters most."
Mithilfe unserer Technologie und proprietären prädiktiven Analytik können Kreditgeber sofortige Kreditentscheidungen auf Basis hunderter Eingangsgrößen aus mehreren Quellen treffen und so Verbrauchern Kredit anbieten, die von vielen Finanzierungsanbietern übersehen werden, die sich ausschließlich auf Verbraucher mit höheren FICO-Scores konzentrieren. Die Entscheidungsplattform von Atlanticus wird durch künstliche Intelligenz und Machine Learning verbessert und ermöglicht schnelle, fundierte Entscheidungen, wenn es am meisten darauf ankommt.
„We anticipate that further investments in large language models will enable us to refine our customer-centric approach to customer service and collections."
Wir erwarten, dass weitere Investitionen in Large Language Models es uns ermöglichen werden, unseren kundenzentrierten Ansatz bei Kundenservice und Forderungseinzug zu verfeinern.
Filings Reviewed: 10-Q 2026-05-07 · 10-Q 2025-11-10 · 10-Q 2025-08-07 · 10-Q 2025-05-08 · 10-K 2026-03-12 · 10-K 2025-03-13
Rated on July 7, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 2.07 | 19.00 | 133 | 35.50 | 23.50 | 123 | 121 |
| 2025: Q1 | 2.08 | 20.40 | 135 | 28.60 | 23.40 | 132 | 129 |
| 2025: Q2 | 2.02 | 25.90 | 143 | 40.40 | 21.30 | 133 | 131 |
| 2025: Q3 | 1.65 | -15.50 | 179 | 49.70 | 14.00 | 108 | 107 |
| 2025: Q4 | 2.32 | 12.20 | 248 | 85.70 | 14.20 | 266 | 266 |
| 2026: Q1 | 2.92 | 40.10 | 680 | 404.60 | 6.50 | 286 | 286 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Assessment: Opportunities & Risks
Six profitable years in a row ($94 to $178 million per year since 2020), return on equity of roughly 21 percent — no red ink even through the rate shock of 2022 to 2024. Unlike many scanner hits, a genuine, carrying business stands behind this one.
The +404.6 percent in the scanner is a data artifact: the series mixes gross and net revenue. Really, total revenue grew 96.9 percent gross, two-thirds of it from the Mercury acquisition; versus the prior quarter it fell 7.5 percent. On clean data, the scanner's 2x condition would not be met.
$406 million of gross charge-offs in a single quarter, the annualized charge-off rate up to 17.1 percent, 7.0 percent of the portfolio more than 90 days past due. The net interest margin fell from 12.1 to 9.3 percent within one quarter — the defaults grow along with the book.
Roughly $6.3 billion of financial debt on only $0.65 billion of equity (about 9.8 times); new senior notes cost 9.25 to 9.75 percent, and interest expense rose roughly 158 percent in the first quarter of 2026. The growth must be continuously and expensively refinanced.
A 10 percent interest-rate cap (bills pending in Congress) and the "true lender" litigation risk could strike the model at its core; loans in individual states could become "void and unenforceable". Insiders hold 65.5 percent, the float comprises only 5.4 million shares with 22.9 percent short interest — very volatile.
Atlanticus is no 404-percent rocket but a subprime lender profitable for six straight years with a return on equity of roughly 21 percent — wrapped in a growth number that is a pure measurement error (gross mixed against net; really +96.9 percent, two-thirds of it acquired). Against the genuine earnings stand rising charge-offs (17.1 percent), nearly tenfold leverage and a regulatory risk that could strike the pricing model at its core. Not investment advice.
- The scanner metric "+404.6 percent revenue growth" rests on a data series mixing gross and net revenue; on a consistent gross basis it would be +96.9 percent (YoY) and −7.5 percent (versus the prior quarter). Computed cleanly, the filter's 2x condition would not be met.
- Mercury Financial was acquired on September 11, 2025 (roughly $3.08 billion of receivables). Credit-quality ratios have been period-wise distorted since, because the Mercury book is included — the company points this out itself.
- Q4 quarterly values for 2024 and 2025 are derived from the annual figure minus the nine-month sum. All credit-quality percentages are the company's non-GAAP metrics based on "managed receivables".
About the Company
Atlanticus Holdings Corporation, ein Finanztechnologieunternehmen, bietet Produkte und Dienstleistungen für Kreditgeber in den USA an. Das Unternehmen ist in zwei Segmenten tätig: Credit as a Service (CaaS) und Auto Finance.
| Employees | 576 |
|---|---|
| Headquarters | Atlanta, GA |
| Website | atlanticus.com |
| IPO Date | 23. Apr 1999 |
| Next Earnings | 6. Aug 2026 |
Management
| Name | Title | Birth Year |
|---|---|---|
| David G. Hanna | Executive Chairman | 1965 |
| Jeffrey A. Howard | President, CEO & Director | 1970 |
| William R. McCamey | Chief Financial Officer | 1969 |
| Mitchell C. Saunders | Chief Accounting Officer | 1973 |
| Linda Brooks | Chief Technology Officer | – |
| Kas Naderi | Chief Information Officer & Senior VP of Technology Systems | – |
| Rosalind T. Drakeford | Managing Counsel, Chief Compliance Officer & Corporate Secretary | – |
| Matt Zalubowski | Senior Vice President of Marketing | – |
| David Caruso | Chief Commercial Officer | – |
| Brian Stone | Chief Data Science & Risk Officer | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Chart
Interactive price chart (TradingView).
Data as of: July 20, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.