CAPITAL ADVANCE ("CA") RECEIVABLES

9 Months Ended

Sep. 30, 2025

CAPITAL ADVANCE ("CA") RECEIVABLES

CAPITAL ADVANCE ("CA") RECEIVABLES

NOTE 4 – CAPITAL ADVANCE (“CA”) RECEIVABLES

The Company enters into transactions with pre-qualified sellers in which the Company purchases a designated amount of future receivables for an upfront cash purchase price.

During the nine months ended September 30, 2025 and 2024, the Company has purchased and collected the following principal amounts associated with CA receivables, including foreign exchange adjustments:

	Nine Months Ended
	September 30,
	2025		2024
Beginning CA receivables, gross	$	61,197	$	50,552
CA extended to customers		234,710		260,353
Change in revenue receivables		(587)		82
CA collected from customers		(245,772)		(245,143)
Charge-offs, net of recoveries		(2,905)		(2,802)
Ending CA receivables, gross	$	46,643	$	63,042
Allowance for CA losses		(4,258)		(6,094)
CA receivables, net	$	42,385	$	56,948

NOTE 4 – CAPITAL ADVANCE (“CA”) RECEIVABLES (continued):

The following are current and overdue balances that are segregated into the timing of expected collections at September 30, 2025:

			Due in less	Due in 30‑60	Due in 60‑90	Due in more
Total		Overdue	than 30 days	days	days	than 90 days
$	46,643	1,143	10,139	9,391	15,529	10,441

The following are current and overdue balances that are segregated into the timing of expected collections at December 31, 2024:

			Due in less	Due in 30‑60	Due in 60‑90	Due in more
Total		Overdue	than 30 days	days	days	than 90 days
$	61,197	2,825	13,654	13,357	23,252	8,109

As of September 30, 2025 and December 31, 2024, the Company applied a range of loss rates to the CA portfolio of 0.87% to 2.02% for the allowance for CA losses.