Filing Flows › Atlanticus Holdings (ATLC) › Q3 2025
Atlanticus Holdings (ATLC) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 10, 2025
Atlanticus Holdings (ATLC) reported revenue of $495M for the third quarter 2025 (Q3 2025), +41% from a year earlier and +26% from the quarter before. Operating margin was 6.6%, net earnings $25.0M (5.0% of revenue).
Atlanticus Holdings, Q3 2025: revenue $495M (+41% year over year), operating margin 6.6%, net earnings $25.0M, operating cash flow $107M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $495M | +26% | +41% |
| Operating profit | $32.5M | -19% | -13% |
| Net earnings | $25.0M | -18% | -15% |
| Operating cash flow | $107M | -19% | -4% |
What changed
Revenue was $494.7M in Q3 2025, up 41% year over year and up 26% from the previous quarter.
Operating profit was $32.5M, a 6.6% margin (down 4.1 points year over year). Operating profit fell $4.8M even though revenue rose $143.5M versus a year earlier, so costs grew faster than sales. Total costs grew 47% against revenue growth of 41%. The fastest-growing cost line was Sales & marketing (+138%). Net earnings were $25.0M, down 15% year over year. The effective tax rate was 24.3%.
Operating cash flow was $107.5M (down 4% year over year), 437% of net earnings. Non-cash charges added back $2.5M of depreciation and amortization and $920K of share-based compensation. Working capital and other items added $79.5M.
Questions
What was Atlanticus Holdings' revenue in the third quarter 2025?
Atlanticus Holdings (ATLC) reported revenue of $495M for the third quarter 2025 (Q3 2025), +41% from a year earlier and +26% from the quarter before.
Was Atlanticus Holdings profitable in the third quarter 2025?
Operating profit was $32.5M (6.6% of revenue) and net earnings $25.0M.