CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2025	Mar. 31, 2024
Cash flows from operating activities
Net income (loss) including noncontrolling interests		$ 2,492	$ (31,662)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Equity method loss (income)		391	(528)
Depreciation and amortization		7,722	6,317
Share-based compensation		13,172	15,475
Fair value adjustment to warrant liability		1,099	(1,900)
Impairment loss on investments in loans and securities	[1]	37,080	26,987
Gain on sale of investments in loans and securities		(5,894)	0
Amortization of deferred costs		2,396	475
Write-off of capitalized software		0	408
Loss on foreign exchange		32	264
Change in operating assets and liabilities:
Fees and other receivables	[1]	(8,844)	(6,832)
Accrued interest on investments	[1]	(6,088)	(4,940)
Prepaid expenses and other assets		1,652	(1,936)
Right-of-use assets		1,505	1,879
Accounts payable		3,016	1,885
Accrued expenses and other liabilities		(11,615)	8,298
Operating lease liability		(1,415)	(1,524)
Income taxes		(2,274)	5,043
Net cash provided by operating activities		34,427	17,709
Proceeds from the sale/maturity/prepayment of:
Investments in loans and securities	[1]	58,674	38,658
Cash and restricted cash acquired from Theorem Technology, Inc.		159	0
Payments for the purchase of:
Investments in loans and securities		(81,943)	(261,638)
Property and equipment		(3,776)	(5,145)
Net cash used in investing activities		(26,886)	(228,125)
Cash flows from financing activities
Proceeds from sale of ordinary shares, net of issuance costs		0	89,938
Proceeds from long-term debt		0	244,725
Proceeds from secured borrowing		49,162	97,448
Proceeds received from noncontrolling interests		0	2,815
Proceeds from revolving credit facility		0	44,000
Proceeds from exercise of stock options, warrants and contributions to ESPP		2,859	161
Proceeds from issuance of ordinary shares from the Equity Financing Purchase Agreement		0	5,338
Distributions made to noncontrolling interests		(4,442)	(2,515)
Payments made to revolving credit facility		0	(134,000)
Payments made to secured borrowing		(46,919)	(38,005)
Payments made to long-term debt		(4,439)	(3,188)
Debt issuance costs		0	(7,974)
Net cash (used in) provided by financing activities		(3,779)	298,743
Effect of exchange rate changes on cash, cash equivalents and restricted cash		(646)	(820)
Net increase in cash, cash equivalents and restricted cash		3,116	87,507
Cash, cash equivalents and restricted cash, beginning of period		226,518	222,541
Cash, cash equivalents and restricted cash, end of period		229,634	310,048
Reconciliation of cash, cash equivalents, and restricted cash within the consolidated balance sheet to the amounts shown in the statements of cash flow above:
Cash and cash equivalents		186,797	274,495
Restricted cash - current		18,123	16,872
Restricted cash - non-current		24,714	18,681
Total cash, cash equivalents, and restricted cash		$ 229,634	$ 310,048

[1] (1) Accrued interest receivable of $14.3 million, previously reported within “Fee and other receivables” as of December 31, 2024, has been reclassified to “Investment in loans and securities” to conform to the current period’s presentation.