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Atlanticus Holdings cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$253M in Q3 2026 · $1.1B over twelve months

Operating cash flow$253M
Free cash flow+$253M
Cash / net income2.7×

Analysis

In Q3 2026, Atlanticus Holdings generated $253M of operating cash flow. That is $146M more than in Q3 2025 ($107M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.1B; the largest uses were net borrowing (+) / repaid (−) ($4.0B), other investing ($1.3B), buybacks ($20.7M); besides operations, cash came from other financing ($4.4B), shares issued ($18.7M); the cash balance rose by $210M.

Operating cash flow was $253M against net income of $95.4M — 2.7× profit, cash ran ahead of reported earnings. The largest differences: deferred taxes +$30.8M, deferred revenue −$9.1M, depreciation & amortization +$4.5M.

Free cash flow

Atlanticus Holdings: free cash flow by quarterAtlanticus Holdings: free cash flow by quarter$123MQ4 2024$132MQ1 2025$133MQ2 2025$107MQ3 2025$266MQ4 2025$286MQ1 2026$277MQ2 2026$253MQ3 2026
Operating cash flow less capital spending.
Atlanticus Holdings: operating cash flow against capital spendingAtlanticus Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$123M$0Q4 2024$132M$0Q1 2025$133M$0Q2 2025$107M$0Q3 2025$266M$0Q4 2025$286M$0Q1 2026$277M$0Q2 2026$253M$0Q3 2026
Latest (Q3 2026): Operating cash flow $253M, Capital spending $0.

Capital allocation, year by year

Atlanticus Holdings: where the cash came from (up) and went (down), by fiscal yearAtlanticus Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesAcquisitionsBuybacksFY2021: Operating cash flow $212MFY2021: Net borrowing −$444MFY2021: Shares issued $1.9MFY2021: Asset sales $1.1MFY2021: Buybacks −$25.2M$215MFY2021FY2022: Operating cash flow $348MFY2022: Net borrowing −$310MFY2022: Shares issued $3.7MFY2022: Buybacks −$89.0M$351MFY2022FY2023: Operating cash flow $459MFY2023: Net borrowing −$754MFY2023: Shares issued $3.4MFY2023: Buybacks −$17.7M$463MFY2023FY2024: Operating cash flow $469MFY2024: Net borrowing −$431MFY2024: Shares issued $8.1MFY2024: Buybacks −$52.7M$477MFY2024FY2025: Operating cash flow $638MFY2025: Net borrowing −$2.3BFY2025: Shares issued $13.0MFY2025: Acquisitions −$72.9MFY2025: Buybacks −$69.6M$651MFY2025
Over these 5 years operating cash flow totalled $2.1B; the largest uses were net borrowing ($4.2B) and buybacks ($254M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$601M
Debtnone
Net cash$601M
Due within a year$829M

Atlanticus Holdings funds itself: free cash flow was $1.1B over the last twelve months, with $601M of cash and investments and no debt on the balance sheet ($829M due within a year, 0.7× covered by cash).

Atlanticus Holdings: debt maturities by year (FY2025)Atlanticus Holdings: debt maturities by year (FY2025)$829MYear 1$2.0BYear 2$1.4BYear 3$1.4BYear 4$893MYear 5
Principal due in each year as disclosed in the annual report, against $601M of cash and investments now.

Where the cash came from and went

Atlanticus Holdings: sources (+) and uses (−) of cash, Q3 2026Atlanticus Holdings: sources (+) and uses (−) of cash, Q3 2026Other investing−$367MOperating cash flow$253MOther financing$164MCash drawn (+) / kept (−)−$90.9MNet borrowing (+) / repaid (−)$26.6MShares issued$14.2MBuybacks−$407K
Atlanticus Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Atlanticus Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing$4.4BNet borrowing (+) / repaid (−)−$4.0BOther investing−$1.3BOperating cash flow$1.1BCash drawn (+) / kept (−)−$210MBuybacks−$20.7MShares issued$18.7MPartners$253K

From profit to cash

Atlanticus Holdings: net income to operating cash flow, Q3 2026Atlanticus Holdings: net income to operating cash flow, Q3 2026Net income$95.4MDepreciation & amortization$4.5MStock-based pay$2.4MDeferred taxes$30.8MPayables$343KDeferred revenue−$9.1MIncome taxes payable$2.2MOperating cash flow$253M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$253M−$407K$26.6M$14.2M−$90.9M$253M
Q2 2026$277M−$55K−$71.4M$3.3M$159M$277M
Q1 2026$286M−$3.8M−$736M$294K−$36.7M$286M
Q4 2025$266M−$16.4M−$1.7B$873K−$241M$266M
Q3 2025$107M−$25K$7.3M$157K−$42.7M$107M
Q2 2025$133M−$1.9M$296M$71K−$21.8M$133M
Q1 2025$132M−$51.2M−$293M$11.9M$38.2M$132M
Q4 2024$123M−$25.0M−$73.5M$8.0M−$115M$123M

Atlanticus Holdings: income statement and cash flow

Atlanticus Holdings, Q3 2026: revenue $776M (+60% year over year), operating margin 15.6%. The chart follows the revenue to costs, profit and cash.

Atlanticus Holdings: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.