Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Revenue
Interest income	$ 218,281	$ 231,373	$ 438,502	$ 461,963
Non-interest income	16,065	19,023	31,748	38,915
Total revenue	234,346	250,396	470,250	500,878
Less:
Interest expense	59,538	54,244	116,941	108,709
Net decrease in fair value	(70,257)	(136,119)	(142,929)	(252,969)
Net revenue	104,551	60,033	210,380	139,200
Operating expenses:
Technology and facilities	36,649	40,625	73,086	87,730
Sales and marketing	18,077	16,258	37,959	32,261
Personnel	20,247	21,908	41,212	46,424
Outsourcing and professional fees	9,701	8,375	17,713	18,616
General, administrative and other	9,769	22,016	17,143	33,793
Total operating expenses	94,443	109,182	187,113	218,824
Income (loss) before taxes	10,108	(49,149)	23,267	(79,624)
Income tax expense (benefit)	3,231	(18,124)	6,623	(22,160)
Net income (loss)	6,877	(31,025)	16,644	(57,464)
Net income (loss) attributable to common stockholders, diluted	6,877	(31,025)	16,644	(57,464)
Net income (loss) attributable to common stockholders	$ 6,877	$ (31,025)	$ 16,644	$ (57,464)
Earnings (loss) per share:
Basic (in USD per share)	$ 0.15	$ (0.78)	$ 0.36	$ (1.46)
Diluted (in USD per share)	$ 0.14	$ (0.78)	$ 0.35	$ (1.46)
Weighted average common shares outstanding:
Basic (in shares)	46,571,524	39,816,996	46,037,084	39,358,936
Diluted (in shares)	47,893,172	39,816,996	47,468,455	39,358,936