Slides
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3eAtlanticus 1996 - 2026 Financial Highlights Q2 2026 NASDAQ : ATLC
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2 Quarterly Highlights (1) 126.2% 89.0% Increase in managed receivables(2) to $6.9 billion Increase in Total operating revenue and other income to $744.3 million $2.50 Diluted earnings per share 790,000+ New accounts served during the quarter 1) Percentages referenced against same period YoY and reflects data as of 6/30/26. 2) Managed receivables is a non-GAAP financial measure and excludes receivables associated with our Auto Finance segment. See slide 8 for additional information.
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3 Performance Summary $ in thousands. 1) In our calculation of total accounts served, we include all accounts with account activity and accounts that have open lines of credit at the end of the referenced period. 2) Total Managed Receivables is a non-GAAP financial measure. See slide 8 for additional information. $0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Total Revenue CAGR: 31% 0 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Accounts Served(1) CAGR: 27% $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 $8,000,000 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Managed Receivables(2) CAGR: 38% $0 $50,000 $100,000 $150,000 $200,000 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 TTM GAAP Net Income Attributable to Common Shareholders CAGR: 35%
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4 Diversified Product Approach General Purpose Credit Card 4.6M Private Label Credit 1.7M General Purpose Credit Card 9.3M Private Label Credit 4.1M General Purpose Credit Card $4,979.7M Private Label Credit $1,911.5M General Purpose Credit Card $2,380.8M Private Label Credit $682.4M 6.3M Accounts Served 13.4M LTD Accounts Served(1) $6.9B Total Managed Receivables(2) $3.06B Purchases YTD 2026 1) Gross accounts served for period 01/01/2012 to 6/30/2026. 2) Total Managed Receivables is a non-GAAP financial measure. See slide 8 for additional information. Above data as of 6/30/26 for current product mix. Numbers above exclude amounts associated with Auto Finance segment
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5 Q2 Financial Highlights For the Three Months Ended June 30, 2026 2025 Total operating revenue and other income $ 744,314 $ 393,820 Other non-operating income 9 343 Interest expense (123,431) (53,684) Provision for credit losses (1,038) (1,382) Changes in fair value of loans (396,280) (216,777) Net margin 223,574 122,320 Operating expenses: Salaries and benefits (27,250) (13,381) Card and loan servicing (57,863) (34,085) Marketing and solicitation (48,130) (24,949) Depreciation (3,592) (885) Other (20,732) (8,874) Total operating expenses (157,567) (82,174) Income tax expense (16,286) (9,856) Net income 49,721 30,290 Net loss attributable to noncontrolling interests (2) 283 Net income attributable to controlling interests 49,719 30,573 Net income attributable to common shareholders $ 47,411 $ 28,351 Net income attributable to common shareholders per common share — basic $ 3.13 $ 1.87 Net income attributable to common shareholders per common share — diluted $ 2.50 $ 1.51
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6 Condensed Consolidated Statements of Income For the Three Months Ended For the Six Months Ended 2026 2025 2026 2025 Revenue and other income: Consumer loans, including past due fees 545,086$ 276,350$ 1,074,531$ 524,005$ Fees and related income on earning assets 150,878 94,285 261,307 172,626 Other revenue 48,350 23,185 88,010 42,062 Total operating revenue and other income 744,314 393,820 1,423,848 738,693 Other non-operating income 9 343 64 636 Total revenue and other income 744,323 394,163 1,423,912 739,329 Interest expense (123,431) (53,684) (246,192) (101,214) Provision for credit losses (1,038) (1,382) (2,638) (2,450) Changes in fair value of loans (396,280) (216,777) (761,804) (395,122) Net margin 223,574 122,320 413,278 240,543 Operating expenses: Salaries and benefits (27,250) (13,381) (55,896) (28,884) Card and loan servicing (57,863) (34,085) (102,781) (66,237) Marketing and solicitation (48,130) (24,949) (84,603) (45,283) Depreciation (3,592) (885) (7,178) (1,682) Other (20,732) (8,874) (37,965) (17,443) Total operating expenses (157,567) (82,174) (288,423) (159,529) Income before income taxes 66,007 40,146 124,855 81,014 Income tax expense (16,286) (9,856) (30,557) (19,602) Net income 49,721 30,290 94,298 61,412 Net loss attributable to noncontrolling interests (2) 283 (404) 681 Net income attributable to controlling interests 49,719 30,573 93,894 62,093 Preferred stock and preferred unit dividends and discount accretion (2,308) (2,222) (4,616) (5,796) Net income attributable to common shareholders 47,411$ 28,351$ 89,278$ 56,297$ Net income attributable to common shareholders per common share — basic 3.13$ 1.87$ 5.93$ 3.72$ Net income attributable to common shareholders per common share — diluted 2.50$ 1.51$ 4.74$ 3.00$ June 30, June 30,
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7 Condensed Consolidated Balance Sheets June 30, December 31, 2026 2025 Assets Unrestricted cash and cash equivalents 555,215$ 621,093$ Restricted cash and cash equivalents 89,965 146,314 Loans at fair value 6,658,748 6,647,882 Loans at amortized cost, net 77,731 82,884 Property at cost, net of depreciation 10,867 12,589 Intangible assets 25,130 30,268 Operating lease right-of-use assets 13,886 15,104 Prepaid expenses and other assets 60,228 66,954 Total assets 7,491,770$ 7,623,088$ Liabilities Accounts payable and accrued expenses 275,313$ 284,514$ Operating lease liabilities 23,568 25,283 Notes payable, net 5,578,882 5,818,761 Senior notes, net 692,117 698,562 Income tax liability 184,414 152,138 Total liabilities 6,754,294 6,979,258 Commitments and contingencies Series A preferred stock 40,000 40,000 Shareholders' Equity Paid-in capital 106,177 102,276 Retained earnings 595,702 506,424 Total shareholders’ equity attributable to Atlanticus Holdings Corporation 701,879 608,700 Noncontrolling interests (4,403) (4,870) Total equity 697,476 603,830 Total liabilities, shareholders' equity and temporary equity 7,491,770$ 7,623,088$
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8 Non-GAAP Financial Measures This presentation includes references to managed receivables, which is a non-GAAP financial measure provided as a supplement to the results provided in accordance with accounting principles generally accepted in the United States of America (“GAAP”). This non-GAAP financial measure aids in the evaluation of the performance of our credit portfolios, including our risk management, servicing and collection activities and our valuation of purchased receivables. The credit performance of our managed receivables provides information concerning the quality of loan origination and the related credit risks inherent with the portfolios. Management relies heavily upon financial data and results prepared on the “managed basis” in order to manage our business, make planning decisions, evaluate our performance and allocate resources. This non-GAAP financial measure is presented for supplemental informational purposes only. This non-GAAP financial measure has limitations as an analytical tool and should not be considered in isolation from, or as a substitute for, GAAP financial measures. This non-GAAP financial measure may differ from the non-GAAP financial measures used by other companies. Above is the reconciliation of Loans at fair value to Total managed receivables. (in Millions) Jun. 30 Mar. 31 Dec. 31 Sep. 30 Jun. 30 Mar. 31 Dec. 31 Loans at fair value $6,659 $6,452 $6,648 $6,350 $3,005 $2,669 $2,630 Fair value mark against receivable (1) $233 $273 $306 $250 $42 $38 $95 Total managed receivables (2) $6,891.2 $6,724.9 $6,953.4 $6,600.1 $3,046.5 $2,706.3 $2,724.8 Fair value to Total managed receivables ratio (3) 96.6% 95.9% 95.6% 96.2% 98.6% 98.6% 96.5% (2) Total managed receivables are equal to the aggregate unpaid gross balance of loans at fair value. (3) The Fair value to Total managed receivable ratio is calculated using Loans at fair value as the numerator, and Total managed receivables, as the denominator. At or for the Three Months Ended 20252026 2024 (1) The fair value mark against receivables reflects the difference between the face value of a receivable and the net present value of the expected cash flows associated with that receivable.
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This presentation contains statistical data and estimates, including those relating to market size and competitive position of the markets in which we participate, that we obtained from our own internal estimates and research, as well as from industry and general publications and research, surveys and studies conducted by third parties. This information involves many assumptions and limitations, and you are cautioned not to give undue weight to any of this data or to these estimates. Industry publications, studies and surveys generally state that they have been obtained from sources believed to be reliable, although they do not guarantee the accuracy or completeness of such information. While we believe that each of these studies and publications is reliable, we have not independently verified market or industry data from third-party sources. We also believe our internal company research is reliable and the definitions of our market and industry are appropriate, though neither this research nor these definitions have been verified by any independent source. 9 Market, Industry and Other Data Trademarks, Service Marks and Trade Names We own or license the trademarks, service marks and trade names that we use in connection with the operation of our business, including our corporate names, logos and website names. This presentation also may contain trademarks, service marks, trade names and copyrights of other companies, which are the property of their respective owners. Solely for convenience, the trademarks, service marks, trade names and copyrights referred to in this presentation are listed without the TM, SM, © and ® symbols, but we will assert, to the fullest extent under applicable law, our rights or the rights of the applicable licensors, if any, to these trademarks, service marks, trade names and copyrights.