Elevate Credit (ELVT) Financial Report Summaries

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Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. sophomore Avg

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From filing 10-Q 2022 Q3

Financial report summary

Risks

There is substantial doubt about our ability to continue as a going concern.
We are subject to risks and uncertainties related to our strategic review.
If our stock price falls and remains below $1.00 per share, our common stock may be subject to delisting from New York Stock Exchange, which would materially reduce the liquidity of our common stock and have an adverse effect on our market price.

Management Discussion

Revenues decreased by $48.7 million, or 10%, from $465.3 million for the year ended December 31, 2020 to $416.6 million for the year ended December 31, 2021. The decrease in revenue is primarily attributable to a lower average combined loans receivable-principal balance coupled with lower effective APRs earned on the loan portfolio.
(1)Includes loans originated by third-party lenders through the CSO programs, which are not included in our consolidated financial statements..
(2)Average combined loans receivable - principal is calculated using daily Combined loans receivable – principal balances. Not a financial measure prepared in accordance with US GAAP. See reconciliation table accompanying this release for a reconciliation of non-GAAP financial measures to the most directly comparable financial measure calculated in accordance with US GAAP.