$19.22

+0.26 (+1.37%)

Weekly Expected Move ±3.1%

$17 $18 $19 $19 $20

NYSE · Real Estate · REIT - Specialty · Tech Score Neutral · Power 49 · $5.7B mcap · 277M float · 1.17% daily turnover · Short 23% of daily vol

Credit Risk of going bust: not rated, financial company (lending is its business) Bonds: $25.4M held by 39 funds, 91 bp over Treasuries → details ▾

Not rated: lending and leverage are a financial company's business, which the model misreads.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.

Revenue Segmentation

By Product / Service

By Geography

Revenue by Segment (5-Year Trend)

Income Trends

Revenue

$484M -61.6% ▼

5Y CAGR: -10.8%

Gross Profit

$157M -67.1% ▼

5Y CAGR: +1.4%

Operating Income

$83M -79.3% ▼

5Y CAGR: +2.3%

Net Income

$474M +32.1% ▲

5Y CAGR: +66.5%

EPS (Diluted)

$0.44 -81.6% ▼

5Y CAGR: +10.3%

EBITDA

$216M -60.9% ▼

5Y CAGR: -2.1%

Profit Margins

Year-over-Year Growth

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$1.1B	$909M	$1.1B	$1.3B	$484M
YoY Growth	+29.1%	-18.1%	+16.3%	+19.5%	-61.6%
Cost of Revenue	$796M	$688M	$763M	$785M	$327M
Gross Profit	$313M	$221M	$294M	$478M	$157M
Gross Margin	28.3%	24.3%	27.9%	37.9%	32.5%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$58M	$65M	$75M	$74M	$0
Operating Expenses	$44M	$55M	$83M	$76M	$74M
Operating Income	$270M	$166M	$211M	$402M	$83M
Operating Margin	24.3%	18.2%	20.0%	31.9%	17.2%
Interest Expense	$45M	$36M	$48M	$37M	$26M
Income Before Tax	$225M	$132M	$184M	$376M	$75M
Tax Expense	$15M	$9M	$5M	$7M	$500K
Net Income	$153M	$107M	$173M	$359M	$474M
Net Margin	13.7%	11.8%	16.4%	28.4%	97.9%
EPS (Diluted)	$1.08	$0.73	$1.17	$2.39	$0.44
EBITDA	$426M	$316M	$390M	$553M	$216M
Shares Outstanding	145M	150M	151M	152M	159M

Line Item	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2
Revenue	$195M	$726M	$83M	$107M	$178M	$118M	$277M	$396M
Cost of Revenue	$147M	$366M	$65M	$75M	$119M	$68M	$286M	$321M
Gross Profit	$48M	$361M	$18M	$32M	$58M	$49M	-$10M	$76M
Gross Margin	24.5%	49.6%	21.7%	29.7%	32.9%	42.0%	-3.5%	19.1%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$19M	$15M	$17M	$17M	$17M	$0	$0	$0
Operating Expenses	$20M	$14M	$18M	$17M	$17M	$22M	$36M	$41M
Operating Income	$28M	$346M	$59K	$15M	$42M	$27M	-$46M	$35M
Operating Margin	14.2%	47.7%	0.1%	13.7%	23.5%	23.0%	-16.5%	8.7%
Interest Expense	$10M	$7M	$6M	$7M	$7M	$7M	$14M	$17M
Income Before Tax	$30M	$341M	-$5M	$10M	$44M	$26M	-$52M	$22M
Tax Expense	$35K	$7M	$291K	$0	$0	$200K	-$39M	$3M
Net Income	$29M	$327M	-$3M	$409M	$43M	$26M	-$12M	$19M
Net Margin	14.7%	45.0%	-4.1%	383.6%	24.3%	22.0%	-4.5%	4.8%
EPS (Diluted)	$0.19	$2.15	$-0.02	$2.63	$0.28	$0.16	$-0.08	$0.12
EBITDA	$74M	$381M	$29M	$44M	$85M	$58M	$19M	$109M
Shares Outstanding	151M	154M	154M	158M	156M	162M	162M	162M

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