Risk Factors Update Summary
- Revenue increased from $453 million in 2022 to $508.9 million in 2023, a 12% growth.
- Net originations rose from $752.9 million in 2022 to $747.8 million in 2023.
- Auto-Approval Rate increased from 60.3% in 2022 to 71.9% in 2023.
- Net charge-offs on installment loans increased from 37.5% to 55.4% from 2022 to 2023.
- Members owned 83.5% of Common Stock in 2023, down from 86.5% in 2022.
- Repurchased $2.5 million of shares in 2023 under the Repurchase Program.
- Initial Shares held by SCG Holders decreased from 86% to 83.5% in 2023.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1818502&owner=exclude
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