Nicholas Financial reports Q2 net loss of $3.2M; charge-offs surge to 12.4%

OLD MARKET CAPITAL Corp

2022-Q2 EPS reported -$0.68 revenue$24,379,000

Net loss of $3.2M ($0.44 diluted EPS loss) vs net income of $1.6M ($0.21 EPS) YoY.
Interest and fee income $12.2M, down 2.6% YoY; provision for credit losses up 538% to $8.9M.
Net charge-off rate rose to 12.4% from 4.9% YoY, driven by portfolio normalization.
Originations in new contracts purchased rose 1.1% vs last year; portfolio yield declined to 27.4%.
CEO emphasizes focus on servicing portfolio, reducing expenses, and regaining profitability.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OLD MARKET CAPITAL Corp reported the six months ended September 30, 2022 results: revenue $24.3 million, net income net loss of $4.9 million, EPS $0.68.

Period: the six months ended September 30, 2022
Revenue: $24.3 million
Net income: net loss of $4.9 million
EPS: $0.68
Result: reported results

Exact text from the filing

September 30, 2022 as compared to net income per share of $0.44 for the six months ended September 30, 2021. Interest and fee income on finance receivables decreased 3.4% to $24.3 million for the six months ended September 30, 2022 as compared to $25.2 million for the six months ended September 30, 2021. Provision for credit losses increased 490.6% to $12.6

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OLD MARKET CAPITAL Corp reported the three months ended September 30, 2022 results: revenue $12.2 million, net income net loss of $3.2 million, EPS $0.44.

Period: the three months ended September 30, 2022
Revenue: $12.2 million
Net income: net loss of $3.2 million
EPS: $0.44
Result: reported results

Exact text from the filing

30, 2022 as compared to diluted net income per share of $0.21 for the three months ended September 30, 2021. Interest and fee income on finance receivables decreased 2.6% to $12.2 million for the three months ended September 30, 2022 as compared to $12.6 million for the three months ended September 30, 2021. Provision for credit losses increased 538.4% to $8.9

View on SEC.gov

Browse all earnings releases →

OLD MARKET CAPITAL Corp filing history →

Source: SEC EDGAR

accession 0000950170-22-022210

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.