ADDED
At February 6, 2026, there w er e 10,747,682 shares of the registrant s common stock issued and outstanding.
Management's Discussion and Analysis of Financial Condition and Results of Operations 29 7A.
The following table shows the percentage of Consumer Loans assigned to us under each of the programs for each of the last three years: Unit Volume Dollar Volume (1) For the Years Ended December 31, Portfolio Program Purchase Program Portfolio Program Purchase Program 2023 74.0 % 26.0 % 70.7 % 29.3 % 2024 78.7 % 21.3 % 77.5 % 22.5 % 2025 74.2 % 25.8 % 71.7 % 28.3 % (1) Represents advances paid to Dealers on Consumer Loans assigned under the Portfolio Program and one-time payments made to Dealers to purchase Consumer Loans assigned under the Purchase Program.
Consumer Loans submitted to us for assignment are processed either through our Credit Approval Processing System ( CAPS ) or via an integration we have with aggregators used by Dealers to submit credit application information to various finance sources.
Each of these processes allow Dealers to submit a consumer's credit application to us and receive a response.
On April 24, 2025, the Bureau filed an unopposed motion to withdraw as plaintiff, and on April 29, 2025, the court granted that motion and ordered that the Bureau is no longer a plaintiff in the litigation.
In September 2025, we made an offer to jointly settle this matter and the multi-state matter discussed below on terms that included, among other things, a proposed cash payment of $45.0 million.
In January 2026, we reached preliminary alignment with representatives of the agencies involved in this matter and the multi-state matter discussed below on certain material terms of a potential settlement of those legal matters, including a potential cash payment by us of $75.5 million.
Discussions with respect to resolution of those matters are ongoing.
In September 2025, we made an offer to jointly settle this matter and the New York Attorney General matter discussed above on terms that included, among other things, a proposed cash payment of $45.0 million.
REMOVED
At February 4, 2025, there w er e 12,031,647 shares of the registrant s common stock issued and outstanding.
Management's Discussion and Analysis of Financial Condition and Results of Operations 28 7A.
The following table shows the percentage of Consumer Loans assigned to us under each of the programs for each of the last three years: Unit Volume Dollar Volume (1) For the Years Ended December 31, Portfolio Program Purchase Program Portfolio Program Purchase Program 2022 73.5 % 26.5 % 69.8 % 30.2 % 2023 74.0 % 26.0 % 70.7 % 29.3 % 2024 78.7 % 21.3 % 77.5 % 22.5 % (1) Represents advances paid to Dealers on Consumer Loans assigned under the Portfolio Program and one-time payments made to Dealers to purchase Consumer Loans assigned under the Purchase Program.
All Consumer Loans submitted to us for assignment are processed through our Credit Approval Processing System ( CAPS ).
CAPS allows Dealers to input a consumer s credit application and view the response from us via the internet.
On December 1, 2021, we received a subpoena from the Office of the Attorney General for the State of California seeking documents and information regarding GAP products, GAP product administration, and refunds.
The following table presents team members by operating function: Number of Team Members as of December 31, Operating Function 2024 2023 2022 Servicing 906 845 907 Originations 578 533 505 Engineering, Analytics, Marketing, and Product Management 512 420 425 Support 435 434 409 Total 2,431 2,232 2,246 As of December 31, 2024, we had 2,431 full- and part-time team members.
During periods of economic slowdown or recession, delinquencies, defaults, repossessions, and losses may increase on our Consumer Loans, and Consumer Loan prepayments may decline.
Our senior management average 16 years of experience with us.
Apple beneficially owned 20.0% of our common stock, Prescott General Partners LLC and its affiliates beneficially owned 19.3% of our common stock, Jill Foss Watson beneficially owned 14.2% of our common stock, and John P.