$6.29

+0.07 (+1.13%)

After Hours: $6.32 (+0.03, +0.48%)

Weekly Expected Move ±12.5%

$5 $5 $6 $7 $8

NASDAQ · Real Estate · REIT - Hotel & Motel · Tech Score Neutral · Power 45 · $814.6M mcap · 108M float · 1.83% daily turnover · Short 42% of daily vol

Credit Risk of going bust: not rated, financial company (lending is its business) Bonds: $554.1M held by 213 funds, 296 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

Revenue by Segment (5-Year Trend)

Income Trends

Revenue

$1.8B -4.3% ▼

5Y CAGR: +7.5%

Gross Profit

-$72M -111.9% ▼

Operating Income

$196M +2.8% ▲

Net Income

-$202M +26.6% ▲

EPS (Diluted)

$-1.22 +26.9% ▲

EBITDA

$379M -18.1% ▼

5Y CAGR: -5.6%

Profit Margins

Year-over-Year Growth

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$1.5B	$1.9B	$1.9B	$1.9B	$1.8B
YoY Growth	+18.2%	+24.6%	+0.6%	+1.2%	-4.3%
Cost of Revenue	$1.0B	$1.2B	$1.2B	$1.3B	$1.9B
Gross Profit	$469M	$622M	$632M	$603M	-$72M
Gross Margin	31.4%	33.4%	33.7%	31.8%	-3.9%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$53M	$44M	$45M	$40M	$41M
Operating Expenses	$539M	$446M	$429M	$412M	-$268M
Operating Income	-$70M	$177M	$203M	$191M	$196M
Operating Margin	-4.7%	9.5%	10.8%	10.1%	10.8%
Interest Expense	$366M	$342M	$336M	$353M	$414M
Income Before Tax	-$546M	-$133M	-$34M	-$274M	-$213M
Tax Expense	-$941K	-$199K	-$1M	$1M	-$11M
Net Income	-$545M	-$132M	-$33M	-$276M	-$202M
Net Margin	-36.4%	-7.1%	-1.7%	-14.5%	-11.1%
EPS (Diluted)	$-3.30	$-0.82	$-0.20	$-1.67	$-1.22
EBITDA	$286M	$588M	$665M	$463M	$379M
Shares Outstanding	165M	165M	165M	165M	166M

Line Item	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2
Revenue	$491M	$457M	$435M	$503M	$479M	$397M	$362M	$421M
Cost of Revenue	$45M	$318M	$311M	$334M	$334M	$269M	$401M	$271M
Gross Profit	$446M	$139M	$124M	$169M	$145M	$129M	-$38M	$150M
Gross Margin	90.8%	30.4%	28.4%	33.6%	30.3%	32.4%	-10.6%	35.7%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$10M	$9M	$10M	$10M	$11M	$10M	$0	$11M
Operating Expenses	$283M	$103M	$99M	$85M	$86M	$86M	-$68M	$278M
Operating Income	$163M	$36M	$25M	$84M	$60M	$43M	$30M	-$127M
Operating Margin	33.1%	8.0%	5.8%	16.7%	12.5%	10.7%	8.2%	-30.3%
Interest Expense	$99M	$68M	$102M	$93M	$0	$83M	$97M	$88M
Income Before Tax	-$50M	-$76M	-$116M	-$38M	-$47M	-$13M	-$150M	-$224M
Tax Expense	-$3M	-$52K	$843K	$457K	$253K	-$12M	$1M	-$132K
Net Income	-$47M	-$76M	-$116M	-$38M	-$47M	-$782K	-$151M	-$224M
Net Margin	-9.5%	-16.7%	-26.8%	-7.6%	-9.8%	-0.2%	-41.7%	-53.2%
EPS (Diluted)	$-0.28	$-0.46	$-0.70	$-0.23	$-0.28	$-0.00	$-4.55	$-1.75
EBITDA	$138M	$93M	$79M	$131M	$125M	$148M	$22M	-$59M
Shares Outstanding	165M	165M	166M	166M	166M	166M	33M	128M

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