Elevate Credit (ELVT) 10-Q 9 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Aug. 05, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-37680
Entity Registrant Name	ELEVATE CREDIT, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-4714474
Entity Address, Address Line One	4150 International Plaza,
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Fort Worth,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	76109
City Area Code	(817)
Local Phone Number	928-1500
Title of 12(b) Security	Common Shares, $0.0004 par value
Trading Symbol	ELVT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		31,047,216
Entity Central Index Key	0001651094
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Jun. 30, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	[1]	$ 73,960	$ 84,978
Restricted cash	[1]	5,036	5,874
Loans receivable at fair value	[1]	608,950	0
Loans receivable, net of allowance for loan losses	[1]	0	511,157
Prepaid expenses and other assets	[1]	14,640	12,745
Operating lease right of use assets		11,213	5,718
Receivable from payment processors	[1]	7,935	15,870
Deferred tax assets, net		9,370	34,229
Investment in unconsolidated affiliate		5,121	0
Property and equipment, net		38,780	33,104
Goodwill, net		6,776	6,776
Intangible assets, net		231	231
Total assets		782,012	710,682
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable and accrued liabilities (See Note 12)	[1]	60,802	82,513
Operating lease liabilities		16,731	9,171
Other taxes payable		304	304
Deferred revenue	[1]	3,259	4,446
Notes payable, net (See Note 5)	[1]	515,976	505,277
Total liabilities		597,072	601,711
COMMITMENTS, CONTINGENCIES AND GUARANTEES (Note 11)
STOCKHOLDERS’ EQUITY
Preferred stock; $0.0004 par value; 24,500,000 authorized shares; none issued and outstanding at June 30, 2022 and December 31, 2021.		0	0
Common stock; $0.0004 par value; 300,000,000 authorized shares; 44,960,438 and 44,960,438 issued; 31,046,783 and 31,810,759 outstanding, respectively		19	19
Additional paid-in capital		208,901	205,860
Treasury stock; at cost; 13,913,655 and 13,149,679 shares of common stock, respectively		(45,299)	(41,746)
Retained earnings (Accumulated deficit)		21,319	(55,162)
Total stockholders’ equity		184,940	108,971
Total liabilities and stockholders’ equity		$ 782,012	$ 710,682
[1]These balances include certain assets and liabilities of variable interest entities (“VIEs”) that can only be used to settle the liabilities of that respective VIE. All assets of the Company are pledged as security for the Company’s outstanding debt, including debt held by the VIEs. For further information regarding the assets and liabilities included in the Company's consolidated accounts, see Note 4—Variable Interest Entities.

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Loans receivable, allowance for credit loss	$ 53,438	$ 71,204
Preferred stock, par value (in usd per share)	$ 0.0004	$ 0.0004
Preferred stock, shares authorized (in shares)	24,500,000	24,500,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.0004	$ 0.0004
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	44,960,438	44,960,438
Common stock, shares outstanding (in shares)	31,046,783	31,810,759
Treasury stock, common stock (in shares)	13,913,655	13,149,679

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Revenues	$ 117,606	$ 84,540	$ 241,850	$ 174,273
Cost of sales:
Change in fair value of loans receivable	61,456	0	145,615	0
Provision for loan losses	0	27,225	0	48,195
Direct marketing costs	7,828	10,564	14,054	14,947
Other cost of sales	3,163	2,905	6,045	4,952
Total cost of sales	72,447	40,694	165,714	68,094
Gross profit	45,159	43,846	76,136	106,179
Operating expenses:
Compensation and benefits	20,561	18,585	40,650	37,593
Professional services (See Note 12)	6,433	8,659	13,392	15,738
Selling and marketing	1,120	710	1,929	1,243
Occupancy and equipment	6,186	5,289	12,059	10,245
Depreciation and amortization	4,720	4,552	8,481	9,795
Other	845	811	1,635	1,586
Total operating expenses	39,865	38,606	78,146	76,200
Operating income (loss)	5,294	5,240	(2,010)	29,979
Other expense:
Net interest expense (See Note 12)	(12,126)	(8,567)	(24,296)	(17,353)
Equity method investment loss	(368)	0	(712)	0
Non-operating income	81	510	1,747	717
Total other expense	(12,413)	(8,057)	(23,261)	(16,636)
Income (loss) before taxes	(7,119)	(2,817)	(25,271)	13,343
Income tax expense (benefit)	(574)	228	(4,803)	3,672
Net income (loss)	$ (6,545)	$ (3,045)	$ (20,468)	$ 9,671
Basic earnings (loss) per share (in usd per share)	$ (0.21)	$ (0.09)	$ (0.65)	$ 0.27
Diluted earnings (loss) per share (in usd per share)	$ (0.21)	$ (0.09)	$ (0.65)	$ 0.27
Basic weighted average shares outstanding (in shares)	31,238,159	35,132,980	31,301,983	35,591,583
Diluted weighted average shares outstanding (in shares)	31,238,159	35,132,980	31,301,983	36,331,631

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	RSUs	Stock Option	ESPP purchases	Preferred Stock	Common Stock	Common Stock RSUs	Common Stock Stock Option	Common Stock ESPP purchases	Additional paid-in capital	Additional paid-in capital RSUs	Additional paid-in capital ESPP purchases	Treasury Stock	Treasury Stock RSUs	Treasury Stock Stock Option	Treasury Stock ESPP purchases	Retained earnings / Accumulated deficit	Retained earnings / Accumulated deficit Cumulative Effect, Period of Adoption, Adjustment	Retained earnings / Accumulated deficit RSUs	Retained earnings / Accumulated deficit Stock Option	Retained earnings / Accumulated deficit ESPP purchases
Balance at beginning of period, preferred stock (in shares) at Dec. 31, 2020						0
Balance at beginning of period at Dec. 31, 2020	$ 163,858					$ 0	$ 18				$ 200,433			$ (16,492)				$ (20,101)
Balance at beginning of period, common stock (in shares) at Dec. 31, 2020							37,954,138
Balance at beginning of period, treasury stock (in shares) at Dec. 31, 2020														7,006,300
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation -US	1,602										1,602
Treasury stock acquired (in shares)							(2,480,741)							2,480,741
Treasury stock acquired	(10,813)													$ (10,813)
Treasury stock reissued (in shares)								169,091	12,500						(169,091)	(12,500)
Treasury stock reissued			$ (417)	$ 27								$ (417)			$ 621	$ 73				$ (621)	$ (46)
Net income (loss)	12,716																	12,716
Balance at end of period, preferred stock (in shares) at Mar. 31, 2021						0
Balance at end of period at Mar. 31, 2021	166,973					$ 0	$ 18				201,618			$ (26,611)				(8,052)
Balance at end of period, common stock (in shares) at Mar. 31, 2021							35,654,988
Balance at end of period, treasury stock (in shares) at Mar. 31, 2021														9,305,450
Balance at beginning of period, preferred stock (in shares) at Dec. 31, 2020						0
Balance at beginning of period at Dec. 31, 2020	163,858					$ 0	$ 18				200,433			$ (16,492)				(20,101)
Balance at beginning of period, common stock (in shares) at Dec. 31, 2020							37,954,138
Balance at beginning of period, treasury stock (in shares) at Dec. 31, 2020														7,006,300
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	9,671
Balance at end of period, preferred stock (in shares) at Jun. 30, 2021						0
Balance at end of period at Jun. 30, 2021	157,652					$ 0	$ 18				203,050			$ (33,632)				(11,784)
Balance at end of period, common stock (in shares) at Jun. 30, 2021							33,997,881
Balance at end of period, treasury stock (in shares) at Jun. 30, 2021														10,962,557
Balance at beginning of period, preferred stock (in shares) at Dec. 31, 2020						0
Balance at beginning of period at Dec. 31, 2020	$ 163,858					$ 0	$ 18				200,433			$ (16,492)				(20,101)
Balance at beginning of period, common stock (in shares) at Dec. 31, 2020							37,954,138
Balance at beginning of period, treasury stock (in shares) at Dec. 31, 2020														7,006,300
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2016-13 [Member]
Balance at end of period, preferred stock (in shares) at Dec. 31, 2021	0					0
Balance at end of period at Dec. 31, 2021	$ 108,971	$ 98,603				$ 0	$ 19				205,860			$ (41,746)				(55,162)	$ 98,603
Balance at end of period, common stock (in shares) at Dec. 31, 2021	31,810,759						31,810,759
Balance at end of period, treasury stock (in shares) at Dec. 31, 2021	13,149,679													13,149,679
Balance at beginning of period, preferred stock (in shares) at Mar. 31, 2021						0
Balance at beginning of period at Mar. 31, 2021	$ 166,973					$ 0	$ 18				201,618			$ (26,611)				(8,052)
Balance at beginning of period, common stock (in shares) at Mar. 31, 2021							35,654,988
Balance at beginning of period, treasury stock (in shares) at Mar. 31, 2021														9,305,450
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation -US	1,787										1,787
Treasury stock acquired (in shares)							(2,339,085)							2,339,085
Treasury stock acquired	(7,954)													$ (7,954)
Treasury stock reissued (in shares)								532,365		149,613					(532,365)		(149,613)
Treasury stock reissued			(562)		$ 453							(562)	$ 207		$ 687		$ 246			(687)
Net income (loss)	(3,045)																	(3,045)
Balance at end of period, preferred stock (in shares) at Jun. 30, 2021						0
Balance at end of period at Jun. 30, 2021	$ 157,652					$ 0	$ 18				203,050			$ (33,632)				(11,784)
Balance at end of period, common stock (in shares) at Jun. 30, 2021							33,997,881
Balance at end of period, treasury stock (in shares) at Jun. 30, 2021														10,962,557
Balance at beginning of period, preferred stock (in shares) at Dec. 31, 2021	0					0
Balance at beginning of period at Dec. 31, 2021	$ 108,971	98,603				$ 0	$ 19				205,860			$ (41,746)				(55,162)	98,603
Balance at beginning of period, common stock (in shares) at Dec. 31, 2021	31,810,759						31,810,759
Balance at beginning of period, treasury stock (in shares) at Dec. 31, 2021	13,149,679													13,149,679
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation -US	$ 1,658										1,658
Treasury stock acquired (in shares)							(972,476)							972,476
Treasury stock acquired	(3,661)													$ (3,661)
Treasury stock reissued (in shares)								410,800							(410,800)
Treasury stock reissued			(645)									(714)			$ 813					(744)
Net income (loss)	(13,923)																	(13,923)
Balance at end of period, preferred stock (in shares) at Mar. 31, 2022						0
Balance at end of period at Mar. 31, 2022	$ 191,003					$ 0	$ 19				206,804			$ (44,594)				28,774
Balance at end of period, common stock (in shares) at Mar. 31, 2022							31,249,083
Balance at end of period, treasury stock (in shares) at Mar. 31, 2022														13,711,355
Balance at beginning of period, preferred stock (in shares) at Dec. 31, 2021	0					0
Balance at beginning of period at Dec. 31, 2021	$ 108,971	$ 98,603				$ 0	$ 19				205,860			$ (41,746)				(55,162)	$ 98,603
Balance at beginning of period, common stock (in shares) at Dec. 31, 2021	31,810,759						31,810,759
Balance at beginning of period, treasury stock (in shares) at Dec. 31, 2021	13,149,679													13,149,679
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ (20,468)
Balance at end of period, preferred stock (in shares) at Jun. 30, 2022	0					0
Balance at end of period at Jun. 30, 2022	$ 184,940					$ 0	$ 19				208,901			$ (45,299)				21,319
Balance at end of period, common stock (in shares) at Jun. 30, 2022	31,046,783						31,046,783
Balance at end of period, treasury stock (in shares) at Jun. 30, 2022	13,913,655													13,913,655
Balance at beginning of period, preferred stock (in shares) at Mar. 31, 2022						0
Balance at beginning of period at Mar. 31, 2022	$ 191,003					$ 0	$ 19				206,804			$ (44,594)				28,774
Balance at beginning of period, common stock (in shares) at Mar. 31, 2022							31,249,083
Balance at beginning of period, treasury stock (in shares) at Mar. 31, 2022														13,711,355
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation -US	2,280										2,280
Treasury stock acquired (in shares)							(760,129)							760,129
Treasury stock acquired	(2,000)													$ (2,000)
Treasury stock reissued (in shares)								366,884		190,945					(366,884)		(190,945)
Treasury stock reissued			$ (182)		$ 384							$ (183)	$ 0		$ 781		$ 514			$ (780)		$ (130)
Net income (loss)	$ (6,545)																	(6,545)
Balance at end of period, preferred stock (in shares) at Jun. 30, 2022	0					0
Balance at end of period at Jun. 30, 2022	$ 184,940					$ 0	$ 19				$ 208,901			$ (45,299)				$ 21,319
Balance at end of period, common stock (in shares) at Jun. 30, 2022	31,046,783						31,046,783
Balance at end of period, treasury stock (in shares) at Jun. 30, 2022	13,913,655													13,913,655

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) (Parenthetical) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($)
Cumulative Effect, Period of Adoption, Adjustment
Deferred income tax expense	$ 29,800

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022		Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (20,468)		$ 9,671
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	8,481		9,795
Change in fair value of loans receivable	145,615		0
Provision for loan losses	0		48,195
Share-based compensation	3,938		3,389
Amortization of debt issuance costs	454		361
Amortization of loan premium	3,016		1,981
Loss from equity method investment	712		0
Amortization of operating leases	(443)		(383)
Deferred income tax (benefit) expense, net	(4,928)		3,626
Non-operating gain	(1,747)		(717)
Changes in operating assets and liabilities:
Prepaid expenses and other assets	(419)		(3,054)
Receivables from payment processors	7,934		662
Receivables from CSO lenders	0		1,242
Interest receivable	(31,333)		(9,054)
Deferred revenue	(1,187)		(625)
Accounts payable and accrued liabilities	(23,397)		1,598
Net cash provided by operating activities	86,228		66,687
CASH FLOWS FROM INVESTING ACTIVITIES:
Loans receivable originated or participations purchased	(450,638)		(344,351)
Principal collections and recoveries on loans receivable	366,676		301,446
Participation premium paid	(2,700)		(2,126)
Purchases of property and equipment	(11,567)		(7,563)
Investment in unconsolidated affiliate	(4,000)		0
Proceeds from sale of intangible assets	0		1,250
Net cash used in investing activities	(102,229)		(51,344)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from notes payable	35,500		25,000
Payments of notes payable	(25,000)		(112,550)
Debt issuance costs paid	(255)		0
Principal payments on insurance premium financing	(329)		0
ESPP shares issued	384		453
Common stock repurchased	(5,328)		(18,767)
Proceeds from stock option exercises	0		27
Taxes paid related to net share settlement of equity awards	(827)		(980)
Net cash provided by (used in) financing activities	4,145		(106,817)
Net decrease in cash, cash equivalents and restricted cash	(11,856)		(91,474)
Cash and cash equivalents, beginning of period	84,978	[1]	197,983
Restricted cash, beginning of period	5,874	[1]	3,135
Cash, cash equivalents and restricted cash, beginning of period	90,852		201,118
Cash and cash equivalents, end of period	73,960	[1]	105,782
Restricted cash, end of period	5,036	[1]	3,862
Cash, cash equivalents and restricted cash, end of period	78,996		109,644
Supplemental cash flow information:
Interest paid	23,795		18,075
Taxes paid	323		55
Non-cash activities:
CSO fees charged-off included in Deferred revenues and Loans receivable	0		37
CSO fees on loans paid-off prior to maturity included in Receivable from CSO lenders and Deferred revenue	0		7
Increase in Prepaid expenses and other assets and Accounts payable and accrued liabilities related to insurance premium financing agreement	1,975		0
Reissuances of Treasury stock	1,594		1,308
Stockholders' equity	184,940		157,652
Leasehold improvements allowance included in Property and equipment, net	2,589		0
Operating lease right of use assets recognized	6,994		0
Operating lease liabilities recognized	9,583		0
Retained earnings / Accumulated deficit
Non-cash activities:
Stockholders' equity	$ 21,319		$ (11,784)
[1]These balances include certain assets and liabilities of variable interest entities (“VIEs”) that can only be used to settle the liabilities of that respective VIE. All assets of the Company are pledged as security for the Company’s outstanding debt, including debt held by the VIEs. For further information regarding the assets and liabilities included in the Company's consolidated accounts, see Note 4—Variable Interest Entities.

BASIS OF PRESENTATION AND ACCOU

BASIS OF PRESENTATION AND ACCOUNTING CHANGES	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION AND ACCOUNTING CHANGES	BASIS OF PRESENTATION AND ACCOUNTING CHANGES Business Operations Elevate Credit, Inc. (the “Company”) is a Delaware corporation. The Company provides technology-driven, progressive online credit solutions to non-prime consumers. The Company uses advanced technology and proprietary risk analytics to provide more convenient and more responsible financial options to its customers, who are not well-served by either banks or legacy non-prime lenders. The Company currently offers unsecured online installment loans, lines of credit and credit cards in the United States (the “US”). The Company’s products, Rise, Elastic and Today Card, reflect its mission of “Good Today, Better Tomorrow” and provide customers with access to competitively priced credit and services while helping them build a brighter financial future with credit building and financial wellness features. Basis of Presentation The accompanying unaudited condensed consolidated financial statements as of June 30, 2022 and for the three and six month periods ended June 30, 2022 and 2021 include the accounts of the Company, its wholly owned subsidiaries and variable interest entities ("VIEs") where the Company is the primary beneficiary. All significant intercompany transactions and accounts have been eliminated. The unaudited condensed consolidated financial information included in this report has been prepared in accordance with accounting principles generally accepted in the US (“US GAAP”) for interim financial information and Article 10 of Regulation S-X and conform, as applicable, to general practices within the finance company industry. The principles for interim financial information do not require the inclusion of all the information and footnotes required by US GAAP for complete financial statements. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2021 in the Company's Annual Report on Form 10-K, filed with the U.S. Securities and Exchange Commission ("SEC") on February 25, 2022. In the opinion of the Company’s management, the unaudited condensed consolidated financial statements include all adjustments, all of which are of a normal recurring nature, necessary for a fair presentation of the results for the interim periods. The Company's business is seasonal in nature so the results of operations for the three and six months ended June 30, 2022 are not necessarily indicative of the results to be expected for the full year. Use of Estimates The preparation of the unaudited condensed consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates and assumptions include the valuation of the loans receivable, goodwill, long-lived and intangible assets, deferred revenues, contingencies, the income tax provision, valuation of share-based compensation, operating lease right of use assets, operating lease liabilities and the valuation allowance against deferred tax assets. The Company bases its estimates on historical experience, current data and assumptions that are believed to be reasonable. Actual results in future periods could differ from those estimates. As the impact of the COVID-19 pandemic continues to evolve, estimates and assumptions about future events and their effects cannot be determined with certainty and therefore require increased judgment. These estimates and assumptions may change in future periods and will be recognized in the condensed consolidated financial statements as new events occur and additional information becomes known. To the extent the Company’s actual results differ materially from those estimates and assumptions, the Company's future financial statements could be affected. Revenue Recognition The Company recognizes consumer loan fees as revenues for each of the loan products it offers. Revenues on the Condensed Consolidated Statements of Operations include: finance charges, lines of credit fees, fees for services provided through Credit Services Organization ("CSO") programs (“CSO fees”), and interest, as well as any other fees or charges permitted by applicable laws and pursuant to the agreement with the borrower. Other revenues also include marketing and licensing fees received from the originating lender related to the Elastic product and Rise bank-originated loans and from CSO fees related to the Rise product. Revenues related to these fees are recognized when the service is performed. The Company accrues finance charges on installment loans on a constant yield basis over their terms. The Company accrues and defers fixed fees such as CSO fees and lines of credit fees when they are assessed and recognizes them to earnings as they are earned over the life of the loan. The Company accrues interest on credit cards based on the amount of the credit card balance outstanding and the related contractual interest rate. Credit card membership fees are amortized to revenue over the card membership period. Other credit card fees, such as late payment fees and returned payment fees, are accrued when assessed. The Company does not accrue finance charges and other fees on installment loans or lines of credit for which payment is greater than 60 days past due. Credit card interest charges are recognized based on the contractual provisions of the underlying arrangements and are not accrued when payment is past due more than 90 days. Installment loans and lines of credit are considered past due if a grace period has not been requested and a scheduled payment is not paid on its due date. Credit cards have a grace period of 25 days and are considered delinquent after the grace period. Payments received on past due loans are applied against the loan and accrued interest balance to bring the loan current. Payments are generally first applied to accrued fees and interest and then to the principal loan balance. The spread of COVID-19 since March 2020 has created a global public health crisis that has resulted in unprecedented disruption to businesses and economies. In response to the pandemic's effects, and in accordance with federal and state guidelines, the Company expanded its payment flexibility programs for its customers, including payment deferrals. This program allows for a deferral of payments for an initial period of 30 to 60 days, and generally up to a maximum of 180 days on a cumulative basis. A customer will return to the normal payment schedule after the end of the deferral period with the extension of the maturity date equivalent to the deferral period, which is generally not to exceed an additional 180 days. Since the third quarter of 2021, the Company no longer offers specific COVID-19 payment assistance programs, but continues to offer other payment flexibility programs if certain qualifications are met. The finance charges will continue to accrue at a lower effective interest rate over the expected term of the loan as adjusted for the deferral period provided (not to exceed an amount greater than the amount at which the borrower could settle the loan) or placed on non-accrual status. The Company’s business is affected by seasonality, which can cause significant changes in portfolio size and profit margins from quarter to quarter. Although this seasonality does not impact the Company’s policies for revenue recognition, it does generally impact the Company’s results of operations by potentially causing an increase in its profit margins in the first quarter of the year and decreased margins in the second through fourth quarters. Installment Loans, Lines of Credit and Credit Cards Effective January 1, 2022, the Company utilizes the fair value option on its entire loans receivable portfolio. As such, loans receivable, including receivables for finance charges, fees and interest, are reported as Loans receivable at fair value on the Condensed Consolidated Balance Sheet at June 30, 2022. To derive the fair value, the Company generally utilizes discounted cash flow analyses that factor in estimated losses and prepayments over the estimated duration of the loans receivable portfolio. Loss and prepayment assumptions are determined using historical loss data and include appropriate consideration of recent trends and anticipated future performance. Future cash flows are discounted using a rate of return that the Company believes a market participant would require. Loans receivable at fair value include installment loans, lines of credit and credit cards. Installment loans are multi-payment loans that require the pay-down of portions of the outstanding principal balance in multiple installments through the Rise brand. Line of credit accounts include customer cash advances made through the Elastic brand and the Rise brand in two states (which were discontinued in September 2020). Credit cards represent credit card receivable balances, uncollected billed interest and fees through the Today Card brand. The Company offers Rise installment products directly to customers. Elastic lines of credit, Rise bank-originated installment loans and Today credit card receivables represent participation interests acquired from third-party lenders through a wholly owned subsidiary or by a VIE. Based on agreements with the third-party lenders, the VIEs pay a loan premium on the participation interests purchased. The loan premium is amortized over the expected life of the outstanding loan amount. See Note 4—Variable Interest Entities for more information regarding these participation interests in Rise and Elastic receivables. The Company classifies its loans as either current or past due. An installment loan or line of credit customer in good standing may request a 16-day grace period when or before a payment becomes due and, if granted, the loan is considered current during the grace period. Credit card customers have a 25-day grace period for each payment. Installment loans and lines of credit are considered past due if a grace period has not been requested and a scheduled payment is not paid on its due date. Credit cards are considered past due if the grace period has passed and the scheduled payment has not been made. Installment loans and lines of credit are charged off when they are over 60 days past due or earlier if deemed uncollectible. Credit cards are charged off when they are over 120 days past due or earlier if deemed uncollectible. Recoveries on losses previously charged-off are treated as a reduction of charge-offs in the period in which the recovery is collected. The Company considers impaired loans as accounts over 60 days past due (for installment loans and lines of credit) or 120 days past due (for credit cards), or loans which become uncollectible based on information that the Company becomes aware of (e.g., receipt of customer bankruptcy notice). The impaired loans are charged-off at the time that they are deemed to be uncollectible. A modification of finance receivable terms is considered a troubled debt restructuring ("TDR") if the borrower is experiencing financial difficulty and the Company grants a concession it would not otherwise have considered to a borrower. The Company typically considers TDRs to include all installment and line of credit loans that were modified by granting principal and interest forgiveness or by extension of the maturity date for more than 60 days as a part of a loss mitigation strategy. On March 22, 2020, federal and state banking regulators issued a joint statement on working with customers affected by COVID-19 (the "Interagency Statement"). The Interagency Statement includes guidance on accounting for loan modifications. In accordance with the Interagency Statement, the Company, and the bank originators the Company supports, have elected to not recognize modified loans as TDRs if the borrower was both: 1) not more than 30 days past due as of March 1, 2020 (or at the requested modification date if originated on or after March 1, 2020); and 2) the modification stems from the effects of the COVID-19 outbreak. The modifications offered by the Company to borrowers that meet both qualifications may include short-term payment deferrals less than six months, interest or fee waivers, extensions of payment terms or delays in payment that are insignificant. If the borrower was not current at March 1, 2020, the Company offers similar modifications that are considered TDRs. This election is applicable from March 1, 2020 until the earlier of 60 days following the date the COVID-19 national emergency comes to an end or January 1, 2022. Effective July 1, 2021, the Company no longer offers specific COVID-19 payment assistance programs and no longer applies the TDR relief provision provided by the Interagency Statement. The Company, along with the bank originators it supports, continues to offer other payment flexibility programs if certain qualifications are met and will apply the TDR guidelines previously established. Allowance for Loan Losses Prior to January 1, 2022, the Company maintained an allowance for loan losses for loans and interest receivable for loans not classified as TDRs at a level estimated to be adequate to absorb credit losses inherent in the outstanding loans receivable. The Company primarily utilized historical loss rates by product, stratified by delinquency ranges, to determine the allowance, but also considered recent collection and delinquency trends, as well as macro economic conditions that may affect portfolio losses. Additionally, due to the uncertainty of economic conditions and cash flow resources of the Company’s customers, the estimate of the allowance for loan losses was subject to change in the near term and could significantly impact the consolidated financial statements. If a loan was deemed to be uncollectible before it is fully reserved, it was charged-off at that time. For loans classified as TDRs, impairment was typically measured based on the present value of the expected future cash flows discounted at the original effective interest rate. Operating Segments The Company determines operating segments based on how its chief operating decision-maker manages the business, including making operating decisions, deciding how to allocate resources and evaluating operating performance. The Company's chief operating decision-maker is its Chief Executive Officer, who reviews the Company's operating results monthly on a consolidated basis. The Company has one reportable segment, which provides online financial services for non-prime consumers. The Company has aggregated all components of its business into a single reportable segment based on the similarities of the economic characteristics, the nature of the products and services, the distribution methods, the type of customers and the nature of the regulatory environments. All of the Company's assets and revenue are in one geographic location, therefore, segment reporting based on geography does not apply. Property and Equipment, net Property and equipment are stated at cost, net of accumulated depreciation and amortization. The following table summarizes the components of net property and equipment. In January 2021 and September 2021, certain assets were determined to be impaired in relation to subleases of facility space. (Dollars in thousands) June 30, 2022 December 31, 2021 Property and equipment, gross $ 147,266 $ 133,109 Accumulated depreciation and amortization (108,486) (100,005) Property and equipment, net $ 38,780 $ 33,104 Cloud Computing Arrangements In accordance with Accounting Standards Codification ("ASC") Subtopic 350-40: Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract , the Company has established a control structure to identify cloud computing arrangements ("CCA") for appropriate accounting treatment similar to its procedures for right of use assets. Implementation costs for CCAs that are hosted by third-party vendors are capitalized when incurred during the application development phase. Capitalized amounts related to such arrangements are included in Prepaid expenses and other assets on the Condensed Consolidated Balance Sheets. Amortization is computed using the straight-line method over the estimated useful life of 3 years. For the three months ended June 30, 2022 and 2021, the Company recognized $400 thousand and $117 thousand in amortization expense, respectively, within Occupancy and equipment within the Condensed Consolidated Statements of Operations, and $617 thousand and $147 thousand for the six months ended June 30, 2022 and 2021, respectively. (Dollars in thousands) June 30, 2022 December 31, 2021 CCA implementation costs $ 4,939 $ 3,557 Less: accumulated amortization (1,189) (572) Net book value $ 3,750 $ 2,985 Goodwill and Indefinite Lived Intangible Assets Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. In accordance with ASC 350-20-35, Goodwill— Subsequent Measurement , the Company performs a quantitative approach method impairment review of goodwill and intangible assets with an indefinite life annually at October 1 and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The Company completed its annual test as of October 1, 2021 and determined that there was no evidence of impairment of goodwill or indefinite lived intangible assets. The Company has $6.8 million of goodwill (all related to the Elastic reporting unit) remaining on the Condensed Consolidated Balance Sheets as of June 30, 2022. The fair value of the reporting unit is determined based on a weighted average of the income and market approaches. The income approach establishes fair value based on estimated future cash flows of the reporting units, discounted by an estimated weighted-average cost of capital developed using the capital asset pricing model, which reflects the overall level of inherent risk of the reporting units. The income approach uses the Company’s projections of financial performance for a six Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in Operating lease right of use (“ROU”) assets and Operating lease liabilities on its Condensed Consolidated Balance Sheets. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. As most of its leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. The operating lease ROU asset may also include initial direct costs incurred and excludes any lease payments made and lease incentives. The Company's lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components. The lease and non-lease components are accounted for as a single lease component. In accordance with ASC 360-10-35, Property, Plant & Equipment— Subsequent Measurement , the Company evaluates its ROU assets along with its Property and equipment, net for impairment annually and between annual tests as needed based on changes in circumstances or other triggering events. Comprehensive Income (Loss) Comprehensive income (loss) is defined as the change in equity during a period from transactions and other events from non-owner sources. As the Company's comprehensive income (loss) is the same as net income (loss) for all periods presented, a separate statement of comprehensive income (loss) is not included in the condensed consolidated financial statements. Insurance Premium Financing On May 1, 2022, the Company executed an insurance premium financing agreement of $2.3 million with a premium finance company in order to finance certain of its annual insurance premiums. Beginning on June 1, 2022, the financing agreement is payable in seven monthly installments of principal and interest of approximately $0.3 million and will be paid in full by December 31, 2022. The agreement bears interest at 5.55%. As of June 30, 2022, the balance of the insurance premium financing was $2.0 million and is included in Accounts payable and accrued liabilities in the Condensed Consolidated Balance Sheets. Equity Method Investment In January 2022, the Company collaborated with Central Pacific Bank ("CPB") to invest in the launch of a new fintech company, Swell Financial, Inc. ("Swell"). The Company contributed intellectual property as well as cash for its non-controlling interest, and records its interest in Swell under the equity method of accounting. As of June 30, 2022 and December 31, 2021, the carrying value of the Company's investment in Swell was $5.1 million and $0 million, respectively, within Investment in unconsolidated affiliate in the Condensed Consolidated Balance Sheets. Losses of $0.4 million and $0.7 million for the three and six months ended June 30, 2022, respectively, are included in Equity method investment loss in the Condensed Consolidated Statements of Operations. Treasury Stock The Company evaluates each stock repurchase transaction in the period in which it is completed. If the repurchase transaction is significantly in excess of the current market price at purchase, the Company will identify whether the price paid included payment for other agreements, rights, and privileges. Repurchase transactions that do not contain these elements or are not significantly in excess of the current market price at purchase are accounted for using the cost method. The Company anticipates using its treasury stock to fulfill certain employee stock compensation grants and settlements. The Company has elected to use a first in, first out ("FIFO") method for assigning share cost at reissuance. Any gain or loss in the stock value will be credited or charged to paid in capital upon subsequent reissuance of the shares, with losses in excess of previously recognized gains charged to retained earnings. The Company is not obligated to purchase or reissue any shares at any time in accordance with its previously disclosed share repurchase plan. Recently Adopted Accounting Standards On March 11, 2021, the American Rescue Plan Act ("ARP Act") was signed into law. The Company reviewed the tax relief provisions of the ARP Act, including the Company's eligibility for such provisions, and determined that the impact is likely to be insignificant with regard to the Company's effective tax rate. The Company continues to monitor and evaluate its eligibility under the ARP Act tax relief provisions to identify any portions that may become applicable in the future. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12"). The purpose of ASU 2019-12 is to reduce complexity in the accounting standards for income taxes by removing certain exceptions as well as clarifying certain allocations. This update also addresses the split recognition of franchise taxes that are partially based on income between income-based tax and non-income-based tax. This guidance is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Early adoption is permitted. The adoption of ASU 2019-12 at January 1, 2021 did not have a material impact on the Company's condensed consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"). ASU 2016-13 is intended to replace the incurred loss impairment methodology in current US GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates to improve the quality of information available to financial statement users about expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. In April 2019, the FASB issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments ("ASU 2019-04"). This amendment clarifies the guidance in ASU 2016-13. The guidance in ASU 2016-13 was further clarified by ASU No. 2019-11, Codification Improvements to Topic 326, Financial Instruments ("ASU 2019-11") issued in November 2019. ASU 2019-11 provides transition relief such as permitting entities an accounting policy election regarding existing TDRs, among other things. In May 2019, the FASB issued ASU No. 2019-05, Financial Instruments-Credit Losses (Topic 326): Targeted Transition Relief ("ASU 2019-05"). The purpose of this amendment is to provide entities that have certain instruments within the scope of Subtopic 326-20, Financial Instruments-Credit Losses-Measured at Amortized Cost, with an option to irrevocably elect the fair value option in Subtopic 825-10, Financial Instruments-Overall , on an instrument-by-instrument basis. Election of this option is intended to increase comparability of financial statement information and reduce costs for certain entities to comply with ASU 2016-13. In March 2020, the FASB issued ASU No. 2020-03, Codification Improvements to Financial Instruments ("ASU 2020-03"). The purpose of ASU 2020-03 is to clarify, correct errors in or make minor improvements to the codification. Among other revisions, the amendments clarify that an entity should record an allowance for credit losses when an entity regains control of financial assets sold in accordance with Topic 326. ASU 2020-03 also clarifies disclosure requirements for debt securities under Topic 942 and affirms that all entities are required to provide the fair value option disclosures within paragraphs 825-10-50-24 through 50-32 of the codification. The amendments in this update are effective on the latter of the issuance of ASU 2020-03 or the effective date of their related topic. For public entities, ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. In November 2019, the FASB issued ASU No. 2019-10, Financial Instruments - Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates ("ASU 2019-10") . The purpose of this amendment is to create a two-tier rollout of major updates, staggering the effective dates between larger public companies and all other entities. This granted certain classes of companies, including Smaller Reporting Companies ("SRCs"), additional time to implement major FASB standards, including ASU 2016-13. Larger public companies will still have an effective date for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. All other entities are permitted to defer adoption of ASU 2016-13, and its related amendments, until fiscal periods beginning after December 15, 2022. In February 2020, the FASB issued ASU No. 2020-02, Financial Instruments - Credit Losses (Topic 326), and Leases (Topic 842): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No. 2016-12 ("ASU 2020-02") . ASU 2020-02 updates the SEC staff guidance related to ASU 2016-13 and all contingent amendments. Under the current SEC definitions, the Company met the definition of an SRC as of the ASU 2019-10 issuance date and chose to defer the adoption of ASU 2016-13 and its related amendments. The Company adopted ASU 2016-13 and all related amendments effective January 1, 2022 and elected the fair value option provided by the transition relief of ASU 2019-05 on all loans receivable. The Company believes that electing the fair value method of accounting for the loans receivable aligns more closely with its portfolio decision making and better reflects the value of the loans receivable portfolio. In accordance with the transition guidance, the Company released the allowance for estimated losses on loans receivable at that date and measured the loans receivable at fair value. These adjustments are recognized collectively, through a cumulative-effect adjustment to opening retained earnings of $98.6 million. As a result of the adoption of ASU 2016-13, the Company’s loans receivable are carried at fair value with changes in fair value recognized directly in earnings after the effective date of adoption. Accounting Standards to be Adopted in Future Periods In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting ("ASU 2020-04"). The purpose of ASU 2020-04 is to provide optional guidance for a period of time related to accounting for reference rate reform on financial reporting. It is intended to reduce the potential burden of reviewing contract modifications related to discontinued rates. The amendments and expedients in this update are effective as of March 12, 2020 through December 31, 2022 and may be elected by topic. The Company is assessing the potential impact of electing all or portions of ASU 2020-04 on the Company's condensed consolidated financial statements and does not expect ASU 2020-04 to have a material impact to the financial statements. In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures ("ASU 2022-02"). The primary purpose of ASU 2022-02, among other things, is to eliminate the accounting guidance for TDRs, to enhance the disclosure requirements for certain loan refinancings and restructurings for borrowers experiencing financial difficulty, and to require disclosure of current-period gross writeoffs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, Financial Instruments - Credit Losses (Topic 326): Measured at Amortized Cost. This guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption, as well as separate early adoption, is permitted if an entity has adopted ASU 2016-13. The Company is assessing the potential impact of adoption on the Company's condensed consolidated financial statements and does not expect ASU 2022-02 to have a material impact to the financial statements due to the fair value option election related to ASU 2016-13 .

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings (loss) per share ("EPS") is computed by dividing net income (loss) by the weighted average number of common shares outstanding ("WASO") during each period. Also, basic EPS includes any fully vested stock and unit awards that have not yet been issued as common stock. There are no unissued fully vested stock and unit awards at June 30, 2022 and 2021. Diluted EPS is computed by dividing net income (loss) by the WASO during each period plus any unvested stock option awards granted, vested unexercised stock options and unvested restricted stock units ("RSUs") using the treasury stock method but only to the extent that these instruments dilute earnings per share. The computation of earnings (loss) per share was as follows for three and six months ended June 30, 2022 and 2021: Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands, except share and per share amounts) 2022 2021 2022 2021 Numerator (basic and diluted): Net income (loss) $ (6,545) $ (3,045) $ (20,468) $ 9,671 Denominator (basic): Basic weighted average number of shares outstanding 31,238,159 35,132,980 31,301,983 35,591,583 Denominator (diluted): Basic weighted average number of shares outstanding 31,238,159 35,132,980 31,301,983 35,591,583 Effect of potentially dilutive securities: Employee share plans (options, RSUs and ESPP) — — — 740,048 Diluted weighted average number of shares outstanding 31,238,159 35,132,980 31,301,983 36,331,631 Basic and diluted earnings (loss) per share: Basic earnings (loss) per share $ (0.21) $ (0.09) $ (0.65) $ 0.27 Diluted earnings (loss) per share $ (0.21) $ (0.09) $ (0.65) $ 0.27 For the three months ended June 30, 2022 and 2021, the Company excluded the following potential common shares from its diluted earnings (loss) per share calculation because including these shares would be anti-dilutive: • 772,797 and 869,923 common shares issuable upon exercise of the Company's stock options; and • 4,337,676 and 3,226,318 common shares issuable upon vesting of the Company's RSUs. For the six months ended June 30, 2022 and 2021, the Company excluded the following potential common shares from its diluted earnings (loss) per share calculation because including these shares would be anti-dilutive: • 789,982 and 874,289 common shares issuable upon exercise of the Company's stock options; and • 3,778,968 and 2,087,680 common shares issuable upon vesting of the Company's RSUs.

LOANS RECEIVABLE AND REVENUE

LOANS RECEIVABLE AND REVENUE	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
LOANS RECEIVABLE AND REVENUE	LOANS RECEIVABLE AND REVENUE Revenues generated from the Company’s consumer loans for the three and six months ended June 30, 2022 and 2021 were as follows: Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2022 2021 2022 2021 Finance charges $ 68,209 $ 50,783 $ 142,497 $ 103,975 Lines of credit fees 47,953 32,880 96,417 68,360 CSO fees — 51 — 602 Other 1,444 826 2,936 1,336 Total revenues $ 117,606 $ 84,540 $ 241,850 $ 174,273 The Company's portfolio consists of installment loans, lines of credit and credit card receivables, which are considered the portfolio segments for all periods presented. The Rise product is installment loans, the Elastic product is a line of credit product and the Today Card is a credit card product, all offered in the US. The following reflects the credit quality of the Company’s loans receivable as of June 30, 2022 and December 31, 2021 as delinquency status has been identified as the primary credit quality indicator. The Company classifies its loans as either current or past due. A customer in good standing may request up to a 16-day grace period when or before a payment becomes due and, if granted, the loan is considered current during the grace period. In response to the COVID-19 pandemic, the Company, along with the banks it supports, had also expanded existing payment flexibility programs to provide temporary payment relief to certain customers who meet the program’s qualifications. These programs allow for a deferral of payments for an initial period of 30 to 60 days, which the Company may extend for an additional 30 days, generally for a maximum of 180 days on a cumulative basis. A customer will return to the normal payment schedule after the end of the deferral period, with the extension of the maturity date equivalent to the deferral period, which is generally not to exceed an additional 180 days. Under the COVID-19 payment flexibility programs, customers that were 30 days past due or less as of March 1, 2020 or the date the customer requested the deferral are considered current. Customers more than 30 days past due as of March 1, 2020 or the date the customer requested the deferral are considered delinquent. The COVID-19-specific payment flexibility programs were no longer offered effective July 1, 2021, eliminating any new payment deferrals up to 180 days. The Company, along with the bank originators it supports, continues to offer other payment flexibility progra ms if certain qualifications are met. As of June 30, 2022, 2.8% of customers that had loan balances outstanding have been provided relief through a payment deferral program for a total of $15 million in loans with deferred payments . Installment loans, lines of credit and credit cards not impacted by COVID are considered past due if a grace period has not been requested and a scheduled payment is not paid on its due date. All impaired loans that were not accounted for as a TDR as of June 30, 2022 and December 31, 2021 have been charged off. Loans Receivable at Fair Value On January 1, 2022, the Company elected the fair value option for the loans receivable portfolio under the transition relief provided under ASU 2019-05 in connection with its adoption of ASU 2016-13. June 30, 2022 (Dollars in thousands) Rise Elastic Today Total Current loans $ 258,947 $ 189,264 $ 42,570 $ 490,781 Past due loans 37,387 14,370 10,795 62,552 Total loans receivable 296,334 203,634 53,365 553,333 Net unamortized loan premium 374 1,805 — 2,179 Loans receivable, at book $ 296,708 $ 205,439 $ 53,365 $ 555,512 Additionally, total loans receivable includes approximately $23.1 million of accrued interest and fees receivable at June 30, 2022. June 30, 2022 (Dollars in thousands) Total Loans receivable - principal - accrual $ 524,410 Loans receivable - principal - non-accrual 8,023 Total Loans receivable - principal 532,433 Loans receivable - principal, at fair value - accrual 578,038 Loans receivable - principal, at fair value - non-accrual 7,833 Loans receivable - principal, at fair value (excluding accrued interest and fees) $ 585,871 Accrued interest and fees receivable 23,079 Loans receivable at fair value $ 608,950 Difference between Loans receivable - principal and Loans receivable - principal, at fair value $ 53,438 The changes in the fair value of Loans receivable at fair value during the three and six months ended June 30, 2022 are as follows: (Dollars in thousands) Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 Balance beginning of period $ 584,154 $ 639,545 Originations, including premium paid 246,682 453,379 Interest and fees, including premium amortization 117,661 240,202 Repayments (278,091) (578,561) Charge-offs, net (1) (65,050) (141,869) Net change in fair value (1) 3,594 (3,746) Balance end of period $ 608,950 $ 608,950 1) Included in Change in fair value of loans receivable in the Condensed Consolidated Statements of Operations Loans Receivable at Amortized Cost Prior to January 1, 2022, the Company carried all loans receivable at amortized cost, including accrued interest, loan premium and allowance for loan losses. December 31, 2021 (Dollars in thousands) Rise Elastic Today Total Current loans $ 282,276 $ 190,946 $ 40,994 $ 514,216 Past due loans 41,607 14,860 9,224 65,691 Total loans receivable 323,883 205,806 50,218 579,907 Net unamortized loan premium 407 2,047 — 2,454 Less: Allowance for loan losses (48,219) (16,698) (6,287) (71,204) Loans receivable, net $ 276,071 $ 191,155 $ 43,931 $ 511,157 Additionally, total loans receivable includes approximately $23.6 million of accrued interest and fees receivable at December 31, 2021. Total loans receivable includes approximately $12.3 million of loans in a non-accrual status at December 31, 2021. The changes in the allowance for loan losses during the three and six months ended June 30, 2021 were as follows: Three Months Ended June 30, 2021 (Dollars in thousands) Rise Elastic Today Total Balance beginning of period $ 26,592 $ 10,749 $ 1,818 $ 39,159 Provision for loan losses 20,856 5,454 915 27,225 Charge-offs (21,502) (6,530) (910) (28,942) Recoveries of prior charge-offs 2,153 699 27 2,879 Total 28,099 10,372 1,850 40,321 Accrual for CSO lender owned loans (7) — — (7) Balance end of period $ 28,092 $ 10,372 $ 1,850 $ 40,314 Six Months Ended June 30, 2021 (Dollars in thousands) Rise Elastic Today Total Balance beginning of period $ 33,968 $ 13,201 $ 1,910 $ 49,079 Provision for loan losses 36,154 10,545 1,496 48,195 Charge-offs (46,275) (14,913) (1,619) (62,807) Recoveries of prior charge-offs 4,252 1,539 63 5,854 Total 28,099 10,372 1,850 40,321 Accrual for CSO lender owned loans (7) — — (7) Balance end of period $ 28,092 $ 10,372 $ 1,850 $ 40,314 As of June 30, 2021, the CSO owned portfolio has been liquidated and no guarantee obligation associated with this portfolio exists. Troubled Debt Restructurings In certain circumstances, the Company modifies the terms of its finance receivables for borrowers experiencing financial difficulties. Modifications may include principal and/or interest forgiveness. A modification of finance receivable terms is considered a TDR if the Company grants a concession to a borrower for economic or legal reasons related to the borrower’s financial difficulties that would not otherwise have been considered. Management considers TDRs to include all installment and line of credit loans that were granted principal and interest forgiveness as a part of a loss mitigation strategy for Rise and Elastic, unless excluded by policy. Once a loan has been classified as a TDR, it is assessed for impairment based on the present value of expected future cash flows discounted at the loan's original effective interest rate considering all available evidence. As of June 30, 2022 and 2021, the Company's TDRs are immaterial to the loans receivable portfolio.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES The Company is involved with four entities that are deemed to be a VIE: Elastic SPV, Ltd., EF SPV, Ltd., EC SPV, Ltd. and one Credit Services Organization ("CSO") lender. The CSO portfolio wind-down was completed in the third quarter of 2021 and the Company has no further involvement in this VIE as of September 30, 2021. Under ASC 810-10-15, Variable Interest Entities , a VIE is an entity that: (1) has an insufficient amount of equity investment at risk to permit the entity to finance its activities without additional subordinated financial support by other parties; (2) the equity investors are unable to make significant decisions about the entity’s activities through voting rights or similar rights; or (3) the equity investors do not have the obligation to absorb expected losses or the right to receive residual returns of the entity. The Company is required to consolidate a VIE if it is determined to be the primary beneficiary, that is, the enterprise has both (1) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance and (2) the obligation to absorb losses of the entity that could potentially be significant to the VIE. The Company evaluates its relationships with VIEs to determine whether it is the primary beneficiary of a VIE at the time it becomes involved with the entity and it re-evaluates that conclusion each reporting period. Each of the below VIE entities were formed by third-party investors for the purpose of purchasing loan participations from third-party bank lenders, and as such, a separate SPV was formed for each program associated with each third-party bank lender. Each SPV obtains debt financing from specific investment funds, which vary by each program and which allows the SPV to purchase the loan participations from each third-party bank lender and has a different interest rate of return for the investment funds. The separation of the SPVs by program provides more flexibility to the third-party bank lender and third-party investors as each program can be negotiated and tailored to the objectives of each party. The Company earns the residual profits from the SPVs which are paid out in the form of Credit Default Premiums. Elastic SPV, Ltd. On July 1, 2015, the Company entered into several agreements with a third-party lender and Elastic SPV, Ltd. (“ESPV”), an entity formed by third-party investors for the purpose of purchasing loan participations from the third-party lender. Per the terms of the agreements, the Company provides customer acquisition services to generate loan applications submitted to the third-party lender. In addition, the Company licenses loan underwriting software and provides services to the third-party lender to evaluate the credit quality of those loan applications in accordance with the third-party lender’s credit policies. ESPV accounts for the loan participations acquired in accordance with ASC 860-10-40, Transfers and Services, Derecognition , as the lines of credit acquired meet the criteria of a participation interest. Once the third-party lender originates the loan, ESPV has the right, but not the obligation, to purchase a 90% interest in each Elastic line of credit. Victory Park Management, LLC (“VPC”) entered into an agreement (the "ESPV Facility") under which it loans ESPV all funds necessary up to a maximum borrowing amount to purchase such participation interests in exchange for a fixed return (see Note 5—Notes Payable—ESPV Facility). The Company entered into a separate credit default protection agreement with ESPV whereby the Company agreed to provide credit protection to the investors in ESPV against Elastic loan losses in return for a credit premium. The Company does not hold a direct ownership interest in ESPV, however, as a result of the credit default protection agreement, ESPV was determined to be a VIE and the Company qualifies as the primary beneficiary. EF SPV, Ltd. On October 15, 2018, the Company entered into several agreements with a third-party lender and EF SPV, Ltd. (“EF SPV”), an entity formed by third-party investors for the purpose of purchasing loan participations from the third-party lender. Per the terms of the agreements, the Company provides customer acquisition services to generate loan applications submitted to the third-party lender. In addition, the Company licenses loan underwriting software and provides services to the third-party lender to evaluate the credit quality of those loan applications in accordance with the third-party lender’s credit policies. EF SPV accounts for the loan participations acquired in accordance with ASC 860-10-40, Transfers and Services, Derecognition , as the installment loans acquired meet the criteria of a participation interest. Once the third-party lender originates the loan, EF SPV has the right, but not the obligation, to purchase a 96% interest in each Rise bank originated installment loan. VPC lends EF SPV all funds necessary up to a maximum borrowing amount to purchase such participation interests in exchange for a fixed return (see Note 5—Notes Payable—EF SPV Facility). The Company entered into a separate credit default protection agreement with EF SPV whereby the Company agreed to provide credit protection to the investors in EF SPV against Rise bank originated loan losses in return for a credit premium. The Company does not hold a direct ownership interest in EF SPV, however, as a result of the credit default protection agreement, EF SPV was determined to be a VIE and the Company qualifies as the primary beneficiary. EC SPV, Ltd. In July 2020, the Company entered into several agreements with a third-party lender and EC SPV, Ltd. (“EC SPV”), an entity formed by third-party investors for the purpose of purchasing loan participations from the third-party lender. Per the terms of the agreements, the Company provides customer acquisition services to generate loan applications submitted to the third-party lender. In addition, the Company licenses loan underwriting software and provides services to the third-party lender to evaluate the credit quality of those loan applications in accordance with the third-party lender’s credit policies. EC SPV accounts for the loan participations acquired in accordance with ASC 860-10-40, Transfers and Services, Derecognition , as the installment loans acquired meet the criteria of a participation interest. Once the third-party lender originates the loan, EC SPV has the right to purchase an interest in each Rise bank originated installment loan. The third-party lender retains 5% of the balances of all the loans originated and sells the remaining 95% participation to EC SPV. VPC will lend EC SPV all funds necessary up to a maximum borrowing amount to purchase such participation interests in exchange for a fixed return (see Note 5—Notes Payable—EC SPV Facility). The Company entered into a separate credit default protection agreement with EC SPV whereby the Company agreed to provide credit protection to the investors in EC SPV against Rise bank originated loan losses in return for a credit premium. The Company does not hold a direct ownership interest in EC SPV, however, as a result of the credit default protection agreement, EC SPV was determined to be a VIE and the Company qualifies as the primary beneficiary. Summarized Financial Information As the VIEs that are consolidated have similar economic characteristics, products and services, distribution methods, and regulatory environments, the Company has elected to aggregate their information. The following table summarizes the aggregated assets and liabilities of the VIEs that are included within the Company’s Condensed Consolidated Balance Sheets June 30, 2022 and December 31, 2021: (Dollars in thousands) June 30, 2022 December 31, 2021 ASSETS Cash and cash equivalents $ 45,199 $ 53,195 Restricted cash 1,000 1,000 Loans receivable at fair value 456,318 — Loans receivable, net of allowance for loan losses of $53,100 — 366,932 Prepaid expenses and other assets 10 16 Receivable from payment processors ($617 and $562 respectively, eliminates upon consolidation) 6,519 13,076 Total assets $ 509,046 $ 434,219 LIABILITIES Accounts payable and accrued liabilities ($55,733 and $8,681 respectively, eliminates upon consolidation) $ 66,740 $ 17,643 Deferred revenue 3,159 4,346 Reserve deposit liability ($67,200 and $28,100, respectively, eliminates upon consolidation) 67,200 28,100 Notes payable, net 371,947 384,130 Total liabilities $ 509,046 $ 434,219 The following tables provides a summary of the aggregated operating results of the VIEs that are included within the Company’s Condensed Consolidated Statements of Operations at June 30, 2022 and 2021: Three Months Ended June 30, (Dollars in thousands) 2022 2021 Revenues $ 93,540 $ 63,091 Change in fair value of loans receivable (44,186) — Loan loss provision — (19,810) Other cost of sales ($36,018 and $33,738, respectively, eliminates upon consolidation (1) ) (39,562) (35,312) Gross profit 9,792 7,969 Interest expense (8,580) (6,714) Net income $ — $ — Six Months Ended June 30, (Dollars in thousands) 2022 2021 Revenues $ 191,676 $ 126,396 Change in fair value of loans receivable (108,035) — Loan loss provision — (33,975) Other cost of sales ($58,148 and $74,192, respectively, eliminates upon consolidation (1) ) (63,725) (76,902) Gross profit 19,916 15,519 Interest expense (17,568) (13,211) Net income $ — $ — (1) Includes the Credit Default Premium and other fee amounts eliminated in consolidation. CSO Lender The one CSO lender was considered a VIE of the Company; however, the Company did not have any ownership interest in the CSO lender, did not exercise control over it, and was not the primary beneficiary, and therefore, did not consolidate the CSO lender's results with its results. There were no new loan originations in 2021 under the CSO program and the wind-down of this portfolio was completed in the third quarter of 2021.

NOTES PAYABLE, NET

NOTES PAYABLE, NET	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
NOTES PAYABLE, NET	NOTES PAYABLE, NET The Company has four debt facilities with VPC, the Rise SPV, LLC credit facility (the "VPC Facility"), the ESPV Facility, the EF SPV Facility, and the EC SPV Facility. In October 2021, the Company entered into a new debt facility with Park Cities Asset Management, LLC ("PCAM"). In January 2022, the Company entered into a subordinated credit agreement with Pine Hill Finance, LLC ("Pine Hill Term Note"). The facilities had the following terms as of June 30, 2022. VPC Facility The VPC facility has a maximum borrowing amount of $200 million (amended as of July 31, 2020) used to fund the Rise loan portfolio (“US Term Note”). Upon the February 1, 2019 amendment date, the interest rate on the debt outstanding as of the amendment date was fixed through the January 1, 2024 maturity date at 10.23% (base rate of 2.73% plus 7.5%, which was reduced to 7.25% and 7.00% on January 1, 2020 and 2021, respectively, as part of the amendment). At December 31, 2021, the weighted average base rate on the outstanding balance was 2.40% and the overall interest rate was 9.40%. At June 30, 2022, the weighted average base rate on the outstanding balance was 2.40% and the overall interest rate was 9.40%. All future borrowings under this facility will bear an interest rate at a base rate (defined as the greater of 3-month LIBOR, the five-year LIBOR swap rate or 1%) plus 7.0% at the borrowing date. The VPC facility has a revolving feature providing the option to pay down up to 20% of the outstanding balance once per year during the first quarter. Amounts paid down may be drawn again at a later date prior to maturity. The US Term Note matures on January 1, 2024. There are no principal payments due or scheduled until the maturity date. All assets of the Company, excluding the assets of the Company that are pledged to collateralize the PCAM debt facility (the "TSPV facility), are pledged as collateral to secure the VPC Facility. The VPC Facility contains certain covenants for the Company such as minimum cash requirements and a minimum book value of equity requirement. There are also certain covenants for the product portfolio underlying the facility including, among other things, excess spread requirements, maximum roll rate and charge-off rate levels and maximum loan-to-value ratios. The Company was in compliance with all covenants related to the VPC Facility as of June 30, 2022 and December 31, 2021. ESPV Facility The ESPV Facility has a maximum borrowing amount of $350 million used to purchase loan participations from a third-party lender. Upon the February 1, 2019 amendment date, the interest rate on the debt outstanding as of the amendment date was fixed at 15.48% (base rate of 2.73% plus 12.75%). Effective July 1, 2019, the interest rate on the debt outstanding as of the amendment date was set at 10.23% (base rate of 2.73% plus 7.5%, which was reduced to 7.25% and 7.00% on January 1, 2020 and 2021, respectively, as part of the amendment). At December 31, 2021 the weighted average base rate on the outstanding balance was 2.43% and the overall interest rate was 9.43%. At June 30, 2022, the weighted average base rate on the outstanding balance was 2.43% and the overall interest rate was 9.43%. All future borrowings under this facility will bear an interest rate at a base rate (defined as the greater of 3-month LIBOR, the five-year LIBOR swap rate or 1%) plus 7.0% at the borrowing date. The ESPV Term Note has a revolving feature providing the option to pay down up to 20% of the outstanding balance once per year during the first quarter. Amounts paid down may be drawn again at a later date prior to maturity. The ESPV Term Note matures on January 1, 2024. There are no principal payments due or scheduled until the maturity date. All assets of the Company and ESPV, excluding the assets of the Company that are pledged to collateralize the TSPV facility, are pledged as collateral to secure the ESPV Facility. The ESPV Facility contains certain covenants for the Company such as minimum cash requirements and a minimum book value of equity requirement. There are also certain covenants for the product portfolio underlying the facility including, among other things, excess spread requirements, maximum roll rate and charge-off rate levels, and maximum loan-to-value ratios. The Company was in compliance with all covenants related to the ESPV Facility as of June 30, 2022 and December 31, 2021. EF SPV Facility The EF SPV Facility has a maximum borrowing amount of $250 million (amended as of July 31, 2020) used to purchase loan participations from a third-party lender. Upon the February 1, 2019 amendment date the interest rate on the debt outstanding as of the amendment date was fixed through the January 1, 2024 maturity date at 10.23% (base rate of 2.73% plus 7.5%, which was reduced to 7.25% and 7.00% on January 1, 2020 and 2021, respectively, as part of the amendment). The weighted average base rate on the outstanding balance at December 31, 2021 was 1.84% and the overall interest rate was 8.84%. The weighted average base rate on the outstanding balance at June 30, 2022 was 1.83% and the overall interest rate was 8.83%. All future borrowings under this facility will bear an interest rate at a base rate (defined as the greater of 3-month LIBOR, the five-year LIBOR swap rate or 1%) plus 7.0% at the borrowing date. The EF SPV Term Note has a revolving feature providing the option to pay down up to 20% of the outstanding balance once per year during the first quarter. Amounts paid down may be drawn again at a later date prior to maturity. The EF SPV Term Note matures on January 1, 2024. There are no principal payments due or scheduled until the maturity date. All assets of the Company and EF SPV, excluding the assets of the Company that are pledged to collateralize the TSPV facility, are pledged as collateral to secure the EF SPV Facility. The EF SPV Facility contains certain covenants for the Company such as minimum cash requirements and a minimum book value of equity requirement. There are also certain covenants for the product portfolio underlying the facility including, among other things, excess spread requirements, maximum roll rate and charge-off rate levels, and maximum loan-to-value ratios. The Company was in compliance with all covenants related to the EF SPV Facility as of June 30, 2022 and December 31, 2021. EC SPV Facility The EC SPV Facility has a maximum borrowing amount of $100 million used to purchase loan participations from a third-party lender. The weighted average base rate on the outstanding balance at December 31, 2021 was 2.09% and the overall interest rate was 9.09%. The weighted average base rate on the outstanding balance at June 30, 2022 was 2.22% and the overall interest rate was 9.22%. All future borrowings under this facility will bear an interest rate at a base rate (defined as the greater of 3-month LIBOR, the five-year LIBOR swap rate or 1%) plus 7.0% at the borrowing date. The EC SPV Term Note has a revolving feature providing the option to pay down up to 20% of the outstanding balance once per year during the first quarter. Amounts paid down may be drawn again at a later date prior to maturity. The EC SPV Term Note matures on January 1, 2024. There are no principal payments due or scheduled until the maturity date. All assets of the Company and EC SPV, excluding the assets of the Company that are pledged to collateralize the TSPV facility, are pledged as collateral to secure the EC SPV Facility. The EC SPV Facility contains certain covenants for the Company such as minimum cash requirements and a minimum book value of equity requirement. There are also certain covenants for the product portfolio underlying the facility including, among other things, excess spread requirements, maximum roll rate and charge-off rate levels, and maximum loan-to-value ratios. The Company was in compliance with all covenants related to the EC SPV Facility as of June 30, 2022 and December 31, 2021. TSPV Facility On October 12, 2021, a new debt facility agreement, the TSPV Facility, was entered into among Today SPV, LLC ("TSPV"), Today Card, LLC ("TC LLC"), both wholly-owned subsidiaries of the Company, and PCAM. The TSPV Facility has a maximum commitment amount of $50 million, which may be increased up to $100 million used to purchase participations in credit card receivable balances from a third-party lender. The base rate on the outstanding balance at December 31, 2021 was 3.25% and the overall rate was 6.85%. The base rate on the outstanding balance at June 30, 2022 was 4.00% and the overall interest rate was 7.60%. All future borrowings under this facility will bear an interest rate at a base rate (defined as the Wall Street Journal Prime Rate with a 3.25% floor) plus 3.60% at the borrowing date. The TSPV Term Note matures on October 12, 2025. There are no principal payments due or scheduled until the respective maturity dates. All assets of TC LLC and its subsidiaries are pledged as collateral to secure the TSPV Facility. The TSPV Facility includes certain financial covenants for the product portfolio underlying the facility, including risk adjusted yield requirements, minimum cash level requirements, maximum default rate and charge-off rate levels, and maximum loan-to-value ratios. The Company was in compliance with all covenants related to the TSPV Facility as of June 30, 2022 and December 31, 2021. Pine Hill Term Note In January 2022, the Company entered into a subordinated credit agreement with Pine Hill Finance, LLC ("Pine Hill") for a $20 million Term Note to supplement our working capital at a base rate (defined as the daily Secured Overnight Financing Rate ("SOFR") rate with a floor of 1%) plus 13.25% per annum. At June 30, 2022, the base rate on the outstanding balance was 1.51% and the overall rate was 14.76%. The Term Note matures on March 1, 2024. There are no principal payments due or scheduled until the respective maturity date. The Pine Hill Facility contains certain covenants for the Company, which are consistent with the covenants within the VPC Facility, such as minimum cash requirements and minimum book value of equity requirement. The Company was in compliance with all covenants related to the Pine Hill Facility at June 30, 2022. Debt Facilities: The outstanding balances of Notes payable, net of debt issuance costs, are as follows: (Dollars in thousands) June 30, 2022 December 31, 2021 US Term Note bearing interest at the base rate + 7.0% $ 84,600 $ 84,600 ESPV Term Note bearing interest at the base rate + 7.0% 192,100 192,100 EF SPV Term Note bearing interest at the base rate + 7.0% 130,300 137,800 EC SPV Term Note bearing interest at the base rate + 7.0% 50,500 55,500 TSPV Term Note bearing interest at the base rate + 3.60% 40,000 37,000 Pine Hill Term Note bearing interest at the base rate + 13.25% 20,000 — Debt issuance costs (1,524) (1,723) Total $ 515,976 $ 505,277 The change in the facility balances includes the following: • EF SPV Term note - Paydown of $15 million in the first quarter of 2022 and a draw of $7.5 million in the second quarter of 2022; • EC SPV Term Note - Paydown of $10 million in the first quarter of 2022 and a draw of $5 million in the second quarter of 2022; • TSPV Term Note - Draw of $3 million in the first quarter of 2022; and • Pine Hill Term Note - Funding of $20 million in the first quarter of 2022. The Company has evaluated the interest rates for its debt and believes they represent market rates based on the Company’s size, industry, operations and recent amendments. As a result, the carrying value for the debt approximates the fair value. Future debt maturities as of June 30, 2022 are as follows: Year (dollars in thousands) June 30, 2022 Remainder of 2022 $ — 2023 — 2024 477,500 2025 40,000 2026 — Thereafter — Total $ 517,500

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS The Company’s goodwill represents the excess purchase price over the estimated fair market value of the net assets acquired by the predecessor parent company, Think Finance, Inc. (“Think Finance”) related to the Elastic reporting unit. The Company performs an impairment review of goodwill and intangible assets with an indefinite life annually at October 1. The annual test was completed as of October 1, 2021 and the Company determined that there was no evidence of impairment of goodwill or indefinite life intangible assets. No events or circumstances occurred between October 2, 2021 and June 30, 2022 that would more likely than not reduce the fair value of the Elastic reporting unit below the carrying amount. The Company has $6.8 million of goodwill (all related to the Elastic reporting unit) on the Condensed Consolidated Balance Sheets as of June 30, 2022 and December 31, 2021, respectively. Of the total goodwill balance, approximately $229 thousand is deductible for tax purposes. The Company's impairment evaluation of goodwill is based on comparing the fair value of the respective reporting unit to its carrying value. The fair value of the reporting unit is determined based on a weighted average of the income and market approaches. The income approach establishes fair value based on estimated future cash flows of the reporting unit, discounted by an estimated weighted-average cost of capital developed using the capital asset pricing model, which reflects the overall level of inherent risk of the reporting unit. The income approach uses the Company's projections of financial performance for a six The carrying value of acquired intangible assets as of June 30, 2022 is presented in the table below: (Dollars in thousands) Cost Accumulated Amortization Net Assets subject to amortization: Acquired technology $ 211 $ (211) $ — Non-compete 2,461 (2,461) — Customers 126 (126) — Assets not subject to amortization: Domain names 231 — 231 Total $ 3,029 $ (2,798) $ 231 The carrying value of acquired intangible assets as of December 31, 2021 is presented in the table below: (Dollars in thousands) Cost Accumulated Amortization Net Assets subject to amortization: Acquired technology $ 211 $ (211) $ — Non-compete 2,461 (2,461) — Customers 126 (126) — Assets not subject to amortization: Domain names 231 — 231 Total $ 3,029 $ (2,798) $ 231 With a board member's decision to not run for reelection to the Company's Board of Directors in March 2021, the remaining non-compete agreements expired and the Company accelerated the amortization of the assets to coincide with his announcement. Beginning in March 31, 2021, there were no intangible assets subject to amortization with any remaining life. Total amortization expense recognized for the six months ended June 30, 2021 was approximately $602 thousand.

LEASES

LEASES	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
LEASES	LEASES The Company has non-cancelable operating leases for facility space and equipment with varying terms. All of the leases for facility space qualified for capitalization under FASB ASC 842, Leases . These leases have remaining lease terms of approximately two The Company analyzes contracts above certain thresholds to identify leases and lease components. Lease and non-lease components are not separated for facility space leases. The Company uses its contractual borrowing rate to determine lease discount rates when an implicit rate is not available. The Company entered into one sublease contract with an independent third-party for facility space related to a right-of-use asset in January 2021. The Company's obligation under the original lease was not relieved. As the sublease income is immaterial, payments received are recognized as an offset to Occupancy and equipment in the Condensed Consolidated Statements of Operations. The signing of the sublease triggered an impairment evaluation and the Company determined the related right-of-use asset was impaired. An impairment loss of $549 thousand was recognized in Non-operating income in the Condensed Consolidated Statements of Operations. Effective May 2022, the Company amended its corporate headquarters lease in Fort Worth, Texas to extend the term through November 2030 and reduce the total leased space to approximately 73,984 square feet. As a result, on the date of the modification, the Company recognized an increase of $7.0 million to right-of-use assets and $9.6 million to lease liabilities, respectively, inclusive of the effect of an incentive of $2.6 million which is recognized in Property and equipment, net in the Condensed Consolidated Balance Sheets. Additionally, the space reduction resulted in a $80.8 thousand gain recognized in Non-operating income in the Condensed Consolidated Statements of Operations with reductions of $600.6 thousand and $681.3 thousand to right-of-use assets and lease liabilities, respectively. Total gross lease cost for the three and six months ended June 30, 2022 and 2021, included in Occupancy and equipment in the Condensed Consolidated Statements of Operations, is detailed in the table below: Three Months Ended June 30, Lease cost (dollars in thousands) 2022 2021 Operating lease cost $ 680 $ 768 Short-term lease cost — — Total lease cost $ 680 $ 768 Six Months Ended June 30, Lease cost (dollars in thousands) 2022 2021 Operating lease cost $ 1,443 $ 1,535 Short-term lease cost — — Total lease cost $ 1,443 $ 1,535 Further information related to leases is as follows: Three Months Ended June 30, Supplemental cash flows information (dollars in thousands) 2022 2021 Cash paid for amounts included in the measurement of lease liabilities $ 902 $ 960 Right-of-use assets obtained in exchange for lease obligations (1) $ 6,994 $ — Weighted average remaining lease term 7.3 years 3.1 years Weighted average discount rate 8.49 % 10.23 % Six Months Ended June 30, Supplemental cash flows information (dollars in thousands) 2022 2021 Cash paid for amounts included in the measurement of lease liabilities $ 1,887 $ 1,918 Right-of-use assets obtained in exchange for lease obligations (1) $ 6,994 $ — Weighted average remaining lease term 7.3 years 3.1 years Weighted average discount rate 8.49 % 10.23 % (1) Related to Fort Worth corporate headquarters lease modification.. Future minimum lease payments as of June 30, 2022 are as follows: Year (dollars in thousands) Operating Leases 2022 $ 1,754 2023 3,415 2024 3,204 2025 3,218 2026 2,639 Thereafter 8,191 Total future minimum lease payments $ 22,420 Less: Imputed interest (5,689) Operating lease liabilities $ 16,731

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION Share-based compensation expense recognized for the three months ended June 30, 2022 and 2021 totaled approximately $2.3 million and $1.8 million, respectively, and $3.9 million and $3.4 million for the six months ended June 30, 2022 and 2021. 2016 Omnibus Incentive Plan The 2016 Omnibus Incentive Plan ("2016 Plan") was adopted by the Company’s Board of Directors on January 5, 2016 and approved by the Company’s stockholders thereafter. The 2016 Plan became effective on June 23, 2016. The 2016 Plan provides for the grant of incentive stock options to the Company’s employees, and for the grant of non-qualified stock options, stock appreciation rights, restricted stock, RSUs, dividend equivalent rights, cash-based awards (including annual cash incentives and long-term cash incentives), and any combination thereof to the Company’s employees, directors and consultants. In connection with the 2016 Plan, the Company has reserved but not issued 8,307,458 shares of common stock, which includes shares that would otherwise return to the 2014 Equity Incentive Plan (the "2014 Plan") as a result of forfeiture, termination, or expiration of awards previously granted under the 2014 Plan and outstanding when the 2016 Plan became effective. The 2016 Plan will automatically terminate 10 years following the date it became effective, unless the Company terminates it sooner. In addition, the Company’s Board of Directors has the authority to amend, suspend or terminate the 2016 Plan provided such action does not impair the rights under any outstanding award. As of June 30, 2022, the total number of shares available for future grants under the 2016 Plan was 2,639,548 shares. The Company has in the past and may in the future make grants of share-based compensation as inducement awards to new employees who are outside the 2016 Plan. The Company's board may rely on the employment inducement exception under NYSE Rule 303A.08 in order to approve the grants. 2014 Equity Incentive Plan The Company adopted the 2014 Plan on May 1, 2014. The 2014 Plan permitted the grant of incentive stock options, non-statutory stock options, and restricted stock. On April 27, 2017, the Company's Board of Directors terminated the 2014 Plan as to future awards and confirmed that underlying shares corresponding to awards under the 2014 Plan that were outstanding at the time the 2016 Plan became effective, that are forfeited, terminated or expired, will become available for issuance under the 2016 Plan. For the six months ended June 30, 2022, the Company had the following activity related to outstanding share-based awards: Stock Options Stock options are awarded to encourage ownership of the Company's common stock by employees and to provide increased incentive for employees to render services and to exert maximum effort for the success of the Company. The Company's stock options generally permit net-share settlement upon exercise. The option exercise price, vesting schedule and exercise period are determined for each grant by the administrator of the applicable plan. The Company's stock options generally have a 10-year contractual term and vest over a 4-year period. A summary of stock option activity as of and for the six months ended June 30, 2022 is presented below: Stock Options Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Outstanding at December 31, 2021 796,685 $ 6.19 Granted — — Exercised — — Expired — — Forfeited (68,750) 5.84 Outstanding at June 30, 2022 727,935 6.22 2.72 Options exercisable at June 30, 2022 727,935 $ 6.22 2.72 At June 30, 2022, there were no unrecognized compensation costs related to unvested stock options to be recognized. The total intrinsic value of options exercised for the six months ended June 30, 2022 was zero. Restricted Stock Units RSUs are awarded to serve as a key retention tool for the Company to retain its executives and key employees. RSUs will transfer value to the holder even if the Company’s stock price falls below the price on the date of grant, provided that the recipient provides the requisite service during the period required for the award to “vest.” The weighted-average grant-date fair value for RSUs granted under the 2016 Plan during the six months ended June 30, 2022 was $2.88. These RSUs primarily vest 25% on the first anniversary of the effective date, and 25% each year thereafter, until full vesting on the fourth anniversary of the effective date. A summary of RSU activity as of and for the six months ended June 30, 2022 is presented below: RSUs Shares Weighted Average Grant-Date Fair Value Unvested at December 31, 2021 3,691,983 $ 3.97 Granted 2,473,776 2.88 Vested (1) (1,044,435) 4.31 Forfeited (181,352) 3.71 Unvested at June 30, 2022 4,939,972 3.36 Expected to vest at June 30, 2022 3,660,559 $ 3.37 (1) Certain RSUs were net share-settled to cover the required withholding tax and the remaining amounts were converted into an equivalent number of shares of the Company's common stock. The Company withheld 266,751 shares for applicable income and other employment taxes and remitted the cash to the appropriate taxing authorities for the six months ended June 30, 2022. At June 30, 2022, there was approximately $9.4 million of unrecognized compensation cost related to unvested RSUs which is expected to be recognized over a weighted average period of 2.4 years. During the six months ended June 30, 2022, the total intrinsic value of RSUs that vested during the period was approximately $3.2 million. As of June 30, 2022, the aggregate intrinsic value of the vested and expected to vest RSUs was approximately $8.5 million. Employee Stock Purchase Plan

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Recurring Fair Value Measurements The accounting guidance on fair value measurements establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The Company groups its assets and liabilities measured at fair value in three levels of the fair value hierarchy, based on the fair value measurement technique, as described below: Level 1—Valuation is based upon quoted prices (unadjusted) for identical assets and liabilities in active exchange markets that the Company has the ability to access at the measurement date. Level 2—Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques with significant assumptions and inputs that are observable in the market or can be derived principally from or corroborated by observable market data. Level 3—Valuation is derived from model-based techniques that use inputs and significant assumptions that are supported by little or no observable market data. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include the use of pricing models, discounted cash flow models and similar techniques. The Company monitors the market conditions and evaluates the fair value hierarchy levels at least quarterly. For any transfers in and out of the levels of the fair value hierarchy, the Company discloses the fair value measurement at the beginning of the reporting period during which the transfer occurred. For the six month periods ended June 30, 2022 and 2021, there were no significant transfers between levels. The level of fair value hierarchy within which a fair value measurement in its entirety falls is based on the lowest-level input that is most significant to the fair value measurement in its entirety. In the determination of the classification of assets and liabilities in Level 2 or Level 3 of the fair value hierarchy, the Company considers all available information, including observable market data, indications of market conditions, and its understanding of the valuation techniques and significant inputs used. Based upon the specific facts and circumstances, judgments are made regarding the significance of the Level 3 inputs to the fair value measurements of the respective assets and liabilities in their entirety. If the valuation techniques that are most significant to the fair value measurements are principally derived from assumptions and inputs that are corroborated by little or no observable market data, the asset or liability is classified as Level 3. The following table contains the Company's financial assets and liabilities that are measured at fair value on a recurring basis in the Condensed Consolidated Balance Sheets as of June 30, 2022: June 30, 2022 Fair Value Measurement Using (Dollars in thousands) Level 1 Level 2 Level 3 Financial assets: Loans receivable at fair value (1) $ 608,950 $ — $ — $ 608,950 Total $ 608,950 $ — $ — $ 608,950 (1) Loans receivable at fair value includes assets of consolidated VIEs. See Note 4 - Variable Interest Entities for more information. Effective January 1, 2022, the Company generally uses discounted cash flow analyses that factor estimated losses and prepayments over the estimated duration of the loans receivable portfolio. Using historical data and consideration of recent trends, the Company determines loss and prepayment assumptions. Future cash flows are discounted using a rate of return that the Company believes a market participant would require. The table below presents quantitative information about the key unobservable inputs used for the Company's loans receivable fair value measurements as of June 30, 2022. June 30, 2022 Credit loss rate 17 % Prepayment rate 27 % Discount rate 21 % Financial Assets and Liabilities Not Measured at Fair Value The following tables contain the Company's financial assets and liabilities that are not measured at fair value in the Condensed Consolidated Balance Sheets as of June 30, 2022 and December 31, 2021: June 30, 2022 Fair Value Measurement Using (Dollars in thousands) Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 73,960 $ 73,960 $ — $ — Restricted cash 5,036 5,036 — — Receivable from payment processors 7,935 — — 7,935 Total $ 86,931 $ 78,996 $ — $ 7,935 Financial liabilities: Accounts payable and accrued liabilities $ 60,802 $ — $ — $ 60,802 Notes payable, net 515,976 — — 515,976 Total $ 576,778 $ — $ — $ 576,778 December 31, 2021 Fair Value Measurement Using (Dollars in thousands) Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 84,978 $ 84,978 $ — $ — Restricted cash 5,874 5,874 — — Loans receivable, net of allowance for loan losses 511,157 — — 639,545 Receivable from payment processors 15,870 — — 15,870 Total $ 617,879 $ 90,852 $ — $ 655,415 Financial liabilities: Accounts payable and accrued liabilities $ 82,513 $ — $ — $ 82,513 Notes payable, net 505,277 — — 505,277 Total $ 587,790 $ — $ — $ 587,790 The Company has evaluated Receivable from payment processors and Accounts payable and accrued liabilities, and believes the carrying value approximates the fair value due to the short-term nature of these balances. The Company has also evaluated the interest rates for Notes payable, net and believes they represent market rates based on the Company’s size, industry, operations and recent amendments. As a result, the carrying value for Notes payable, net approximates the fair value. Prior to the adoption of ASU 2016-13, loans receivable were carried net of the allowance for loan losses, which was primarily calculated utilizing historical loss rates by product, stratified by delinquency ranges. The Company enhanced its valuation methodology as of December 31, 2021 using the additional data and valuation assumptions made available by the January 2022 adoption of 2016-13. The Company classifies its fair value measurement techniques for the fair value disclosures associated with Loans receivable, net of allowance for loan losses, Receivable from payment processors, Accounts payable and accrued liabilities and Notes payable, net as Level 3 in accordance with ASC 820-10, Fair Value Measurements and Disclosures (“ASC 820-10”).

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income tax expense for the three and six months ended June 30, 2022 and 2021 consists of the following: Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2022 2021 2022 2021 Current income tax expense (benefit): State $ 78 $ (40) 125 46 Total current income tax expense (benefit) 78 (40) 125 46 Deferred income tax expense (benefit): Federal 2,230 1,116 (3,682) 4,693 State (2,882) (848) (1,246) (1,067) Total deferred income tax expense (benefit) (652) 268 (4,928) 3,626 Total income tax expense (benefit) $ (574) $ 228 $ (4,803) $ 3,672 No material penalties or interest related to taxes, other than as described below, were recognized for the three and six months ended June 30, 2022 and 2021. The Company’s effective tax rates for the six months ended June 30, 2022 and 2021, including discrete items, were 19.0% and 27.5%, respectively. For both the six months ended June 30, 2022 and 2021, the Company’s effective tax rate differed from the standard corporate federal income tax rate of 21% due to permanent non-deductible items and corporate state tax obligations in the states where it has lending activities. At June 30, 2022 and December 31, 2021, the gross liability for an uncertain tax position was $1.5 million, exclusive of interest and penalties. Of this amount, $1.2 million would affect the Company’s effective tax rate if realized. The Company recognizes interest income from favorable settlements and interest expense and penalties accrued on uncertain tax positions within income tax expense (benefit) in the Condensed Consolidated Statements of Operations. As of June 30, 2022, the Company had accrued $0.1 million for interest and penalties. The liability for the uncertain tax position results from a recent change in tax regulations in the state of Texas that impacted the Company’s previously recognized research and development state tax credits. The Company has no expectation that this liability on the books at June 30, 2022 will be settled in the next 12 months. The Company’s 2016-2020 tax years remain open to income tax audits in Texas at June 30, 2022. The Company's tax provision for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items arising in that quarter. In each quarter, the Company updates its estimate of the annual effective tax rate, and if the estimated annual effective tax rate changes, the Company would make a cumulative adjustment in that quarter. For purposes of evaluating the need for a deferred tax valuation allowance, significant weight is given to evidence that can be objectively verified. The following provides an overview of the assessment that was performed for the deferred tax assets, net. Deferred tax assets, net At June 30, 2022 and December 31, 2021, the Company did not establish a valuation allowance for its deferred tax assets (“DTA”) based on management’s expectation of generating sufficient taxable income in a look forward period over the next one Significant factors included the following: • The Company is in a three-year cumulative pre-tax income position in 2021 (exclusive of certain non-recurring items). Additionally, the Company has a history of utilizing its past NOL carryforwards. • The Company is projecting future income sufficient to fully utilize the indefinite NOL carryforward. Also, due to the short-term nature of the loan portfolio and the other material items that comprise the deferred tax assets, net, the Company estimates that the majority of these deferred tax items will reverse within one The Company has given due consideration to all the factors and has concluded that the deferred tax asset is expected to be realized based on management’s expectation of generating sufficient taxable income and the reversal of tax timing differences in a look-forward period over the next one

COMMITMENTS, CONTINGENCIES AND

COMMITMENTS, CONTINGENCIES AND GUARANTEES	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS, CONTINGENCIES AND GUARANTEES	COMMITMENTS, CONTINGENCIES AND GUARANTEES Contingencies Currently and from time to time, the Company may become a defendant in various legal and regulatory actions that arise in the ordinary course of business. The Company generally cannot predict the eventual outcome, the timing of the resolution or the potential losses, fines or penalties of such legal and regulatory actions. Actual outcomes or losses may differ materially from the Company's current assessments and estimates, which could have a material adverse effect on the Company's business, prospects, results of operations, financial condition or cash flows. In accordance with applicable accounting guidance, the Company establishes an accrued liability for litigation, regulatory matters and other legal proceedings when those matters present material loss contingencies that are both probable and reasonably estimable. Even when an accrual is recorded, the Company may be exposed to loss in excess of any amounts accrued. Except as described below, the Company believes that any sum it may be required to pay in connection with proceedings or claims in excess of the amounts recorded would likely not have a material adverse effect upon the Company's results of operations, financial conditions or cash flows on a consolidated annual basis but could have a material adverse impact in a particular quarterly reporting period. Other Matters: In December 2019, the Think Finance, Inc. ("TFI") bankruptcy plan was confirmed, and any potential future claims from the TFI Creditors' Committee were assigned to the Think Finance Litigation Trust (“TFLT”). On August 14, 2020, the TFLT filed an adversary proceeding against Elevate Credit, Inc. in the United States Bankruptcy Court for the Northern District of Texas, alleging certain avoidance claims related to Elevate's spin-off from TFI on May 1, 2014 under the Bankruptcy Code and the Texas Uniform Fraudulent Transfer Act ("TUFTA"). Additionally, a class action lawsuit against Elevate was filed on August 14, 2020 in the Eastern District of Virginia alleging violations of usurious interest and aiding and abetting various racketeering activities related to the operations of TFI prior to and immediately after the 2014 spin-off. On October 26, 2020, Elevate filed a motion to dismiss which was denied. On February 4, 2022, the parties to this litigation reached a settlement agreement in which Elevate admitted no liability, agreed to a settlement payment of $33 million to resolve this litigation and committed to purchase 924,495 shares of Elevate stock owned by the TFLT at a set price upon execution of the settlement agreement. The Company accrued a contingent loss in the amount of $17.1 million for the settlement payment related to the TFLT and class actions disputes at December 31, 2021, in addition to the $17 million previously accrued at December 30, 2020. The settlement has been agreed to by all parties, and on April 16, 2022, the United States District Court for the Eastern District of Virginia issued an Order Granting Preliminary Approval of the Class Action Settlement. The stock purchase was completed on February 11, 2022. The first payment of $13.3 million was made on May 4, 2022 and the final payment will be made upon final approval, expected in the third quarter of 2022. This accrual, inclusive of related additional legal fees, was $20.7 million and $34.1 million, at June 30, 2022 and December 31, 2021, respectively, and is recognized as Accounts payable and accrued liabilities on the Condensed Consolidated Balance Sheets. On June 5, 2020, the District of Columbia (the "District") sued Elevate in the Superior Court of the District of Columbia alleging that Elevate may have violated the District's Consumer Protection Procedures Act and the District of Columbia's Municipal Regulations in connection with loans issued by banks in the District of Columbia. This action was removed to federal court, and on August 3, 2020, the District filed a motion to remand to Superior Court. On July 15, 2021, the District Court Judge remanded the case to Superior Court. On January 20, 2022, the Company entered into a Consent Judgment and Order (the "Consent Order") with the District resolving all matters in this action. The Company denies that it has violated any law or engaged in any deceptive or unfair practices as alleged and entered into the Consent Order to avoid the potential expense of further litigation. As part of the Consent Order, Elevate has agreed to not engage in certain business activities in the District of Columbia, provide refunds in 2022 to certain affected District of Columbia consumers, and pay $450 thousand to the District of Columbia in February 2022. The Company accrued a contingent loss in the amount of $4.0 million at December 31, 2021, which is recognized as Accounts payable and accrued liabilities on the Condensed Consolidated Balance Sheets. At June 30, 2022, the Company has completed refunds to District of Columbia consumers in an amount approximating $3.4 million and has a remaining accrual of $0.1 million. In addition, on January 27, 2020, Sopheary Sanh filed a class action complaint in the Western District Court in the state of Washington against Rise Credit Service of Texas, LLC d/b/a Rise, Opportunity Financial, LLC and Applied Data Finance, LLC d/b/a Personify Financial. The Plaintiff in the case claims that Rise and Personify Financial have violated Washington’s Consumer Protection Act by engaging in unfair or deceptive practices, and seeks class certification, injunctive relief to prevent solicitation of consumers to apply for loans, monetary damages and other appropriate relief, including an award of costs, pre- and post-judgment interest, and attorneys' fees. The lawsuit was removed to federal court. On January 12, 2021, the court granted Rise's motion to dismiss, as well as the other non-affiliated service providers. The Judge did, however, allow Plaintiff the opportunity to amend its complaint. On June 22, 2021, the Plaintiff filed its Amended Complaint alleging that Elevate or its subsidiary were not service providers to the originating bank, but rather the true lender. On July 20, 2021, Elevate filed its Motion to Dismiss the Amended Complaint. On September 20, 2021, Plaintiff filed its Response and Opposition to Defendant's Motion to Dismiss. On October 1, 2021, the Company filed a Reply in Support of its Motion to Dismiss the Amended Complaint, and is awaiting a ruling on the motion to dismiss. Elevate disagrees that it has violated the Washington Consumer Protection Act and it intends to vigorously defend its position. In the opinion of management, a material loss is remote at this stage as the Company's favorable ruling on its initial motion to dismiss had a similar fact pattern to the amended complaint. On March 3, 2020, Heather Crawford filed a lawsuit in the Superior Court of the state of California, county of Los Angeles, against Elevate Credit, Inc., Elevate Credit Service, LLC and Rise Credit of California, LLC alleging unconscionable interest rates on Rise loans and seeking damages and public injunctive relief. Elevate filed a motion to compel arbitration, and Ms. Crawford dismissed the lawsuit without prejudice to refile in arbitration. Ms. Crawford has not yet filed any arbitration demand. In addition, on April 6, 2020, Dahn Le made a demand for arbitration against Elevate Credit, Inc., Elevate Credit Service, LLC and Rise Credit of California, LLC similarly alleging unconscionable interest rates on Rise loans and seeking damages and public injunctive relief. On September 1, 2021, the Arbitrator ruled that Elevate was deemed to be the prevailing party as to all matters in the Danh Le arbitration and all of Claimant's claims were denied. On December 1, 2021, Mr. Le filed a Petition to Vacate the Arbitration Award in the Superior Court of the state of California. The Company filed its motion in Opposition to Petitioner's Motion to Vacate on January 25, 2022, and a hearing was held on February 22, 2022. On February 23, 2022, the Superior Court ruled in Elevate's favor by denying the Petition to Vacate the arbitration judgment. The Claimant has filed notice that they intend to appeal the denial of their Petition to Vacate, however, the Company expects to succeed in defending the appeal and does not expect to incur any reasonably possible loss at this time. Commitments The Elastic product, which offers lines of credit to consumers, had approximately $275.7 million and $277.1 million in available and unfunded credit lines at June 30, 2022 and December 31, 2021, respectively. The Today Card product had approximately $21.2 million and $20.0 million in available and unfunded credit lines as of June 30, 2022 and December 31, 2021, respectively. While these amounts represented the total available unused credit lines, the Company has not experienced and does not anticipate that all line of credit customers will access their entire available credit lines at any given point in time. The Company has not recorded a loan loss reserve for unfunded credit lines as the Company has the ability to cancel commitments within a relatively short timeframe. Effective June 2017, the Company entered into a seven-year lease agreement for office space in California. Upon the commencement of the lease, the Company was required to provide the lessor with an irrevocable and unconditional $500 thousand letter of credit. Provided the Company is not in default of any terms of the lease agreement, the outstanding required balance of the letter of credit will be reduced by $100 thousand per year beginning on the second anniversary of the lease commencement and ending on the fifth anniversary of the lease agreement. The minimum balance of the letter of credit will be at least $100 thousand throughout the duration of the lease. At June 30, 2022 and December 31, 2021, the Company had $100 thousand and $200 thousand, respectively, of cash balances securing the letter of credit which is included in Restricted cash within the Condensed Consolidated Balance Sheets. Guarantees CSO Program: In connection with its prior CSO programs, the Company guaranteed consumer loan payment obligations to CSO lenders and was required to purchase any defaulted loans it has guaranteed. The guarantee represented an obligation to purchase specific loans that go into default. As of June 30, 2022, the guarantee no longer exists as there are no remaining CSO program obligations. Indemnifications and contingent loss accrual In the ordinary course of business, the Company may indemnify customers, vendors, lessors, investors, and other parties for certain matters subject to various terms and scopes. For example, the Company may indemnify certain parties for losses due to the Company's breach of certain agreements or due to certain services it provides. As the Company has previously disclosed, the Company has also entered into separate indemnification agreements with the Company’s directors and executive officers, in addition to the indemnification provided for in the Company’s amended and restated bylaws. These agreements, among other things, provide that the Company will indemnify its directors and executive officers for certain expenses, including attorneys’ fees, judgments, penalties, fines and settlement amounts incurred by a director or executive officer in any action or proceeding arising out of their services as one of the Company’s or, where applicable, TFI’s directors or executive officers, or any of the Company’s subsidiaries or any other company or enterprise to which the person provides services at the Company’s request. The indemnification agreements also set forth certain procedures that will apply in the event of a claim for indemnification thereunder. As of December 31, 2020, the Company had accrued approximately $4.4 million for a contingent loss related to a legal matter for a former executive of the company. This contingent loss was based on a probable settlement composed of both cash and certain amounts that were subject to valuation adjustments until the final settlement. The contingent loss was settled as of March 31, 2021 and no further accrual for this matter remains as of June 30, 2022. As of June 30, 2022 and December 31, 2021, the Company had accrued $1.0 million and $1.7 million, respectively, pursuant to a director indemnification agreement related to a legal matter. Both of these accruals were recognized within Non-operating income in the Condensed Consolidated Statements of Operations and as Accounts payable and accrued liabilities on the Condensed Consolidated Balance Sheets. The table below presents a roll forward of the net amounts accrued and paid for the three and six months ended June 30, 2022 and 2021. Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2022 2021 2022 2021 Beginning balance $ 1,700 $ — $ 1,700 $ 4,424 Accruals — (510) — (510) Payments (653) 510 (653) (3,914) Net contingent loss related to a legal matter $ 1,047 $ — $ 1,047 $ —

RELATED PARTIES

RELATED PARTIES	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
RELATED PARTIES	RELATED PARTIES Expenses related to the Company's board of directors, including board fees, travel reimbursements and share-based compensation for the three and six months ended June 30, 2022 and 2021 are included in Professional services within the Condensed Consolidated Statements of Operations and were as follows: Three Months Ended June 30, (Dollars in thousands) 2022 2021 Fees and travel expenses $ 193 $ 135 Stock compensation 239 107 Total board related expenses $ 432 $ 242 Six Months Ended June 30, (Dollars in thousands) 2022 2021 Fees and travel expenses $ 349 $ 257 Stock compensation 393 186 Total board related expenses $ 742 $ 443 At June 30, 2022 and December 31, 2021, the Company had approximately $147 thousand and $143 thousand, respectively, due to board members related to the above expenses, which is included in Accounts payable and accrued liabilities within the Condensed Consolidated Balance Sheets. During the year ended December 31, 2017, a former member of the board of directors entered into a direct investment of $800 thousand in the Rise portion of the VPC Facility. Upon resignation in the first quarter of 2022, they were no longer considered a related party. For the six months ended June 30, 2022 and 2021, the interest payments on this loan were $19 thousand and $39 thousand, respectively, and $20 thousand for the three months ended June 30, 2021. In the second quarter of 2021, the Company reached an agreement with a former member of the board of directors for advances of legal fees under the indemnification provisions of their director agreement. Based on this agreement, at June 30, 2022, the Company had a remaining accrual of $151.0 thousand, which is included in Accounts payable and accrued liabilities within the Condensed Consolidated Balance Sheets. The table below presents a roll forward of the amounts accrued and paid for the three months ended June 30, 2022. There was $911 thousand accrued for this matter at June 30, 2021. Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2022 2021 2022 2021 Beginning balance $ 152 $ — $ 135 $ — Accruals (included in Professional services in the Condensed Consolidated Statements of Operations) 8 911 98 911 Payments (9) — (82) — Net accrual related to the advance of legal fees $ 151 $ 911 $ 151 $ 911 In addition to the advances of legal fees, as of June 30, 2022 and December 31, 2021, the Company had accrued $1.0 million $1.7 million, respectively, pursuant to the director indemnification agreement related to a legal matter. This accrual is recognized as Accounts payable and accrued liabilities on the Condensed Consolidated Balance Sheets.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The Company evaluated subsequent events as of the date these financial statements were made available and determined there have been no material subsequent events that required recognition or additional disclosure in these condensed consolidated financial statements, except as follows: On August 8, 2022, the ESPV, EF SPV and EC SPV, individually and collectively, entered into a credit agreement with Park Cities Asset Management, LLC for a $15.0 million Term Note which matures on March 31, 2024, at a base rate (defined as the greater of the Daily Simple Secured Overnight Financing Rate ("SOFR") or 1.5%) plus 13.25% per annum, with a maximum annual interest rate of 16.0%. A funding of $15.0 million on this agreement was made on August 8, 2022. See Part II, Item 5 included in this report for more information.

BASIS OF PRESENTATION AND ACC_2

BASIS OF PRESENTATION AND ACCOUNTING CHANGES (Policies)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements as of June 30, 2022 and for the three and six month periods ended June 30, 2022 and 2021 include the accounts of the Company, its wholly owned subsidiaries and variable interest entities ("VIEs") where the Company is the primary beneficiary. All significant intercompany transactions and accounts have been eliminated.
Use of Estimates	Use of Estimates The preparation of the unaudited condensed consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates and assumptions include the valuation of the loans receivable, goodwill, long-lived and intangible assets, deferred revenues, contingencies, the income tax provision, valuation of share-based compensation, operating lease right of use assets, operating lease liabilities and the valuation allowance against deferred tax assets. The Company bases its estimates on historical experience, current data and assumptions that are believed to be reasonable. Actual results in future periods could differ from those estimates.
Revenue Recognition	Revenue Recognition The Company recognizes consumer loan fees as revenues for each of the loan products it offers. Revenues on the Condensed Consolidated Statements of Operations include: finance charges, lines of credit fees, fees for services provided through Credit Services Organization ("CSO") programs (“CSO fees”), and interest, as well as any other fees or charges permitted by applicable laws and pursuant to the agreement with the borrower. Other revenues also include marketing and licensing fees received from the originating lender related to the Elastic product and Rise bank-originated loans and from CSO fees related to the Rise product. Revenues related to these fees are recognized when the service is performed. The Company accrues finance charges on installment loans on a constant yield basis over their terms. The Company accrues and defers fixed fees such as CSO fees and lines of credit fees when they are assessed and recognizes them to earnings as they are earned over the life of the loan. The Company accrues interest on credit cards based on the amount of the credit card balance outstanding and the related contractual interest rate. Credit card membership fees are amortized to revenue over the card membership period. Other credit card fees, such as late payment fees and returned payment fees, are accrued when assessed. The Company does not accrue finance charges and other fees on installment loans or lines of credit for which payment is greater than 60 days past due. Credit card interest charges are recognized based on the contractual provisions of the underlying arrangements and are not accrued when payment is past due more than 90 days. Installment loans and lines of credit are considered past due if a grace period has not been requested and a scheduled payment is not paid on its due date. Credit cards have a grace period of 25 days and are considered delinquent after the grace period. Payments received on past due loans are applied against the loan and accrued interest balance to bring the loan current. Payments are generally first applied to accrued fees and interest and then to the principal loan balance. The spread of COVID-19 since March 2020 has created a global public health crisis that has resulted in unprecedented disruption to businesses and economies. In response to the pandemic's effects, and in accordance with federal and state guidelines, the Company expanded its payment flexibility programs for its customers, including payment deferrals. This program allows for a deferral of payments for an initial period of 30 to 60 days, and generally up to a maximum of 180 days on a cumulative basis. A customer will return to the normal payment schedule after the end of the deferral period with the extension of the maturity date equivalent to the deferral period, which is generally not to exceed an additional 180 days. Since the third quarter of 2021, the Company no longer offers specific COVID-19 payment assistance programs, but continues to offer other payment flexibility programs if certain qualifications are met. The finance charges will continue to accrue at a lower effective interest rate over the expected term of the loan as adjusted for the deferral period provided (not to exceed an amount greater than the amount at which the borrower could settle the loan) or placed on non-accrual status.
Installment Loans, Lines of Credit and Credit Cards	Installment Loans, Lines of Credit and Credit Cards Effective January 1, 2022, the Company utilizes the fair value option on its entire loans receivable portfolio. As such, loans receivable, including receivables for finance charges, fees and interest, are reported as Loans receivable at fair value on the Condensed Consolidated Balance Sheet at June 30, 2022. To derive the fair value, the Company generally utilizes discounted cash flow analyses that factor in estimated losses and prepayments over the estimated duration of the loans receivable portfolio. Loss and prepayment assumptions are determined using historical loss data and include appropriate consideration of recent trends and anticipated future performance. Future cash flows are discounted using a rate of return that the Company believes a market participant would require. Loans receivable at fair value include installment loans, lines of credit and credit cards. Installment loans are multi-payment loans that require the pay-down of portions of the outstanding principal balance in multiple installments through the Rise brand. Line of credit accounts include customer cash advances made through the Elastic brand and the Rise brand in two states (which were discontinued in September 2020). Credit cards represent credit card receivable balances, uncollected billed interest and fees through the Today Card brand. The Company offers Rise installment products directly to customers. Elastic lines of credit, Rise bank-originated installment loans and Today credit card receivables represent participation interests acquired from third-party lenders through a wholly owned subsidiary or by a VIE. Based on agreements with the third-party lenders, the VIEs pay a loan premium on the participation interests purchased. The loan premium is amortized over the expected life of the outstanding loan amount. See Note 4—Variable Interest Entities for more information regarding these participation interests in Rise and Elastic receivables. The Company classifies its loans as either current or past due. An installment loan or line of credit customer in good standing may request a 16-day grace period when or before a payment becomes due and, if granted, the loan is considered current during the grace period. Credit card customers have a 25-day grace period for each payment. Installment loans and lines of credit are considered past due if a grace period has not been requested and a scheduled payment is not paid on its due date. Credit cards are considered past due if the grace period has passed and the scheduled payment has not been made. Installment loans and lines of credit are charged off when they are over 60 days past due or earlier if deemed uncollectible. Credit cards are charged off when they are over 120 days past due or earlier if deemed uncollectible. Recoveries on losses previously charged-off are treated as a reduction of charge-offs in the period in which the recovery is collected. The Company considers impaired loans as accounts over 60 days past due (for installment loans and lines of credit) or 120 days past due (for credit cards), or loans which become uncollectible based on information that the Company becomes aware of (e.g., receipt of customer bankruptcy notice). The impaired loans are charged-off at the time that they are deemed to be uncollectible. A modification of finance receivable terms is considered a troubled debt restructuring ("TDR") if the borrower is experiencing financial difficulty and the Company grants a concession it would not otherwise have considered to a borrower. The Company typically considers TDRs to include all installment and line of credit loans that were modified by granting principal and interest forgiveness or by extension of the maturity date for more than 60 days as a part of a loss mitigation strategy. On March 22, 2020, federal and state banking regulators issued a joint statement on working with customers affected by COVID-19 (the "Interagency Statement"). The Interagency Statement includes guidance on accounting for loan modifications. In accordance with the Interagency Statement, the Company, and the bank originators the Company supports, have elected to not recognize modified loans as TDRs if the borrower was both: 1) not more than 30 days past due as of March 1, 2020 (or at the requested modification date if originated on or after March 1, 2020); and 2) the modification stems from the effects of the COVID-19 outbreak. The modifications offered by the Company to borrowers that meet both qualifications may include short-term payment deferrals less than six months, interest or fee waivers, extensions of payment terms or delays in payment that are insignificant. If the borrower was not current at March 1, 2020, the Company offers similar modifications that are considered TDRs. This election is applicable from March 1, 2020 until the earlier of 60 days following the date the COVID-19 national emergency comes to an end or January 1, 2022. Effective July 1, 2021, the Company no longer offers specific COVID-19 payment assistance programs and no longer applies the TDR relief provision provided by the Interagency Statement. The Company, along with the bank originators it supports, continues to offer other payment flexibility programs if certain qualifications are met and will apply the TDR guidelines previously established.
Allowance for Loan Losses	Allowance for Loan Losses Prior to January 1, 2022, the Company maintained an allowance for loan losses for loans and interest receivable for loans not classified as TDRs at a level estimated to be adequate to absorb credit losses inherent in the outstanding loans receivable. The Company primarily utilized historical loss rates by product, stratified by delinquency ranges, to determine the allowance, but also considered recent collection and delinquency trends, as well as macro economic conditions that may affect portfolio losses. Additionally, due to the uncertainty of economic conditions and cash flow resources of the Company’s customers, the estimate of the allowance for loan losses was subject to change in the near term and could significantly impact the consolidated financial statements. If a loan was deemed to be uncollectible before it is fully reserved, it was charged-off at that time. For loans classified as TDRs, impairment was typically measured based on the present value of the expected future cash flows discounted at the original effective interest rate.
Operating Segments	Operating Segments The Company determines operating segments based on how its chief operating decision-maker manages the business, including making operating decisions, deciding how to allocate resources and evaluating operating performance. The Company's chief operating decision-maker is its Chief Executive Officer, who reviews the Company's operating results monthly on a consolidated basis.
Property and Equipment, net	Property and Equipment, netProperty and equipment are stated at cost, net of accumulated depreciation and amortization.
Goodwill and Indefinite Lived Intangible Assets	Goodwill and Indefinite Lived Intangible Assets Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. In accordance with ASC 350-20-35, Goodwill— Subsequent Measurement , the Company performs a quantitative approach method impairment review of goodwill and intangible assets with an indefinite life annually at October 1 and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The Company completed its annual test as of October 1, 2021 and determined that there was no evidence of impairment of goodwill or indefinite lived intangible assets. The Company has $6.8 million of goodwill (all related to the Elastic reporting unit) remaining on the Condensed Consolidated Balance Sheets as of June 30, 2022. The fair value of the reporting unit is determined based on a weighted average of the income and market approaches. The income approach establishes fair value based on estimated future cash flows of the reporting units, discounted by an estimated weighted-average cost of capital developed using the capital asset pricing model, which reflects the overall level of inherent risk of the reporting units. The income approach uses the Company’s projections of financial performance for a six
Leases	Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in Operating lease right of use (“ROU”) assets and Operating lease liabilities on its Condensed Consolidated Balance Sheets. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. As most of its leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. The operating lease ROU asset may also include initial direct costs incurred and excludes any lease payments made and lease incentives. The Company's lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components. The lease and non-lease components are accounted for as a single lease component. In accordance with ASC 360-10-35, Property, Plant & Equipment— Subsequent Measurement
Comprehensive Income (Loss)	Comprehensive Income (Loss) Comprehensive income (loss) is defined as the change in equity during a period from transactions and other events from non-owner sources. As the Company's comprehensive income (loss) is the same as net income (loss) for all periods presented, a separate statement of comprehensive income (loss) is not included in the condensed consolidated financial statements.
Insurance Premium Financing	Insurance Premium Financing On May 1, 2022, the Company executed an insurance premium financing agreement of $2.3 million with a premium finance company in order to finance certain of its annual insurance premiums. Beginning on June 1, 2022, the financing agreement is payable in seven monthly installments of principal and interest of approximately $0.3 million and will be paid in full by December 31, 2022. The agreement bears interest at 5.55%. As of June 30, 2022, the balance of the insurance premium financing was $2.0 million and is included in Accounts payable and accrued liabilities in the Condensed Consolidated Balance Sheets.
Equity Method Investment	Equity Method InvestmentIn January 2022, the Company collaborated with Central Pacific Bank ("CPB") to invest in the launch of a new fintech company, Swell Financial, Inc. ("Swell"). The Company contributed intellectual property as well as cash for its non-controlling interest, and records its interest in Swell under the equity method of accounting. As of June 30, 2022 and December 31, 2021, the carrying value of the Company's investment in Swell was $5.1 million and $0 million, respectively, within Investment in unconsolidated affiliate in the Condensed Consolidated Balance Sheets. Losses of $0.4 million and $0.7 million for the three and six months ended June 30, 2022, respectively, are included in Equity method investment loss in the Condensed Consolidated Statements of Operations.
Treasury Stock	Treasury Stock The Company evaluates each stock repurchase transaction in the period in which it is completed. If the repurchase transaction is significantly in excess of the current market price at purchase, the Company will identify whether the price paid included payment for other agreements, rights, and privileges. Repurchase transactions that do not contain these elements or are not significantly in excess of the current market price at purchase are accounted for using the cost method. The Company anticipates using its treasury stock to fulfill certain employee stock compensation grants and settlements. The Company has elected to use a first in, first out ("FIFO") method for assigning share cost at reissuance. Any gain or loss in the stock value will be credited or charged to paid in capital upon subsequent reissuance of the shares, with losses in excess of previously recognized gains charged to retained earnings. The Company is not obligated to purchase or reissue any shares at any time in accordance with its previously disclosed share repurchase plan.
Recently Adopted Accounting Standards and Accounting Standards to be Adopted in Future Periods	Recently Adopted Accounting Standards On March 11, 2021, the American Rescue Plan Act ("ARP Act") was signed into law. The Company reviewed the tax relief provisions of the ARP Act, including the Company's eligibility for such provisions, and determined that the impact is likely to be insignificant with regard to the Company's effective tax rate. The Company continues to monitor and evaluate its eligibility under the ARP Act tax relief provisions to identify any portions that may become applicable in the future. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12"). The purpose of ASU 2019-12 is to reduce complexity in the accounting standards for income taxes by removing certain exceptions as well as clarifying certain allocations. This update also addresses the split recognition of franchise taxes that are partially based on income between income-based tax and non-income-based tax. This guidance is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Early adoption is permitted. The adoption of ASU 2019-12 at January 1, 2021 did not have a material impact on the Company's condensed consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"). ASU 2016-13 is intended to replace the incurred loss impairment methodology in current US GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates to improve the quality of information available to financial statement users about expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. In April 2019, the FASB issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments ("ASU 2019-04"). This amendment clarifies the guidance in ASU 2016-13. The guidance in ASU 2016-13 was further clarified by ASU No. 2019-11, Codification Improvements to Topic 326, Financial Instruments ("ASU 2019-11") issued in November 2019. ASU 2019-11 provides transition relief such as permitting entities an accounting policy election regarding existing TDRs, among other things. In May 2019, the FASB issued ASU No. 2019-05, Financial Instruments-Credit Losses (Topic 326): Targeted Transition Relief ("ASU 2019-05"). The purpose of this amendment is to provide entities that have certain instruments within the scope of Subtopic 326-20, Financial Instruments-Credit Losses-Measured at Amortized Cost, with an option to irrevocably elect the fair value option in Subtopic 825-10, Financial Instruments-Overall , on an instrument-by-instrument basis. Election of this option is intended to increase comparability of financial statement information and reduce costs for certain entities to comply with ASU 2016-13. In March 2020, the FASB issued ASU No. 2020-03, Codification Improvements to Financial Instruments ("ASU 2020-03"). The purpose of ASU 2020-03 is to clarify, correct errors in or make minor improvements to the codification. Among other revisions, the amendments clarify that an entity should record an allowance for credit losses when an entity regains control of financial assets sold in accordance with Topic 326. ASU 2020-03 also clarifies disclosure requirements for debt securities under Topic 942 and affirms that all entities are required to provide the fair value option disclosures within paragraphs 825-10-50-24 through 50-32 of the codification. The amendments in this update are effective on the latter of the issuance of ASU 2020-03 or the effective date of their related topic. For public entities, ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. In November 2019, the FASB issued ASU No. 2019-10, Financial Instruments - Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates ("ASU 2019-10") . The purpose of this amendment is to create a two-tier rollout of major updates, staggering the effective dates between larger public companies and all other entities. This granted certain classes of companies, including Smaller Reporting Companies ("SRCs"), additional time to implement major FASB standards, including ASU 2016-13. Larger public companies will still have an effective date for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. All other entities are permitted to defer adoption of ASU 2016-13, and its related amendments, until fiscal periods beginning after December 15, 2022. In February 2020, the FASB issued ASU No. 2020-02, Financial Instruments - Credit Losses (Topic 326), and Leases (Topic 842): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No. 2016-12 ("ASU 2020-02") . ASU 2020-02 updates the SEC staff guidance related to ASU 2016-13 and all contingent amendments. Under the current SEC definitions, the Company met the definition of an SRC as of the ASU 2019-10 issuance date and chose to defer the adoption of ASU 2016-13 and its related amendments. The Company adopted ASU 2016-13 and all related amendments effective January 1, 2022 and elected the fair value option provided by the transition relief of ASU 2019-05 on all loans receivable. The Company believes that electing the fair value method of accounting for the loans receivable aligns more closely with its portfolio decision making and better reflects the value of the loans receivable portfolio. In accordance with the transition guidance, the Company released the allowance for estimated losses on loans receivable at that date and measured the loans receivable at fair value. These adjustments are recognized collectively, through a cumulative-effect adjustment to opening retained earnings of $98.6 million. As a result of the adoption of ASU 2016-13, the Company’s loans receivable are carried at fair value with changes in fair value recognized directly in earnings after the effective date of adoption. Accounting Standards to be Adopted in Future Periods In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting ("ASU 2020-04"). The purpose of ASU 2020-04 is to provide optional guidance for a period of time related to accounting for reference rate reform on financial reporting. It is intended to reduce the potential burden of reviewing contract modifications related to discontinued rates. The amendments and expedients in this update are effective as of March 12, 2020 through December 31, 2022 and may be elected by topic. The Company is assessing the potential impact of electing all or portions of ASU 2020-04 on the Company's condensed consolidated financial statements and does not expect ASU 2020-04 to have a material impact to the financial statements. In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures ("ASU 2022-02"). The primary purpose of ASU 2022-02, among other things, is to eliminate the accounting guidance for TDRs, to enhance the disclosure requirements for certain loan refinancings and restructurings for borrowers experiencing financial difficulty, and to require disclosure of current-period gross writeoffs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, Financial Instruments - Credit Losses (Topic 326): Measured at Amortized Cost. This guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption, as well as separate early adoption, is permitted if an entity has adopted ASU 2016-13. The Company is assessing the potential impact of adoption on the Company's condensed consolidated financial statements and does not expect ASU 2022-02 to have a material impact to the financial statements due to the fair value option election related to ASU 2016-13 .

BASIS OF PRESENTATION AND ACC_3

BASIS OF PRESENTATION AND ACCOUNTING CHANGES (Tables)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of property, plant and equipment	The following table summarizes the components of net property and equipment. In January 2021 and September 2021, certain assets were determined to be impaired in relation to subleases of facility space. (Dollars in thousands) June 30, 2022 December 31, 2021 Property and equipment, gross $ 147,266 $ 133,109 Accumulated depreciation and amortization (108,486) (100,005) Property and equipment, net $ 38,780 $ 33,104 (Dollars in thousands) June 30, 2022 December 31, 2021 CCA implementation costs $ 4,939 $ 3,557 Less: accumulated amortization (1,189) (572) Net book value $ 3,750 $ 2,985

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Computation of earnings (loss) per share	The computation of earnings (loss) per share was as follows for three and six months ended June 30, 2022 and 2021: Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands, except share and per share amounts) 2022 2021 2022 2021 Numerator (basic and diluted): Net income (loss) $ (6,545) $ (3,045) $ (20,468) $ 9,671 Denominator (basic): Basic weighted average number of shares outstanding 31,238,159 35,132,980 31,301,983 35,591,583 Denominator (diluted): Basic weighted average number of shares outstanding 31,238,159 35,132,980 31,301,983 35,591,583 Effect of potentially dilutive securities: Employee share plans (options, RSUs and ESPP) — — — 740,048 Diluted weighted average number of shares outstanding 31,238,159 35,132,980 31,301,983 36,331,631 Basic and diluted earnings (loss) per share: Basic earnings (loss) per share $ (0.21) $ (0.09) $ (0.65) $ 0.27 Diluted earnings (loss) per share $ (0.21) $ (0.09) $ (0.65) $ 0.27

LOANS RECEIVABLE AND REVENUE (T

LOANS RECEIVABLE AND REVENUE (Tables)	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
Revenue from consumer loans	Revenues generated from the Company’s consumer loans for the three and six months ended June 30, 2022 and 2021 were as follows: Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2022 2021 2022 2021 Finance charges $ 68,209 $ 50,783 $ 142,497 $ 103,975 Lines of credit fees 47,953 32,880 96,417 68,360 CSO fees — 51 — 602 Other 1,444 826 2,936 1,336 Total revenues $ 117,606 $ 84,540 $ 241,850 $ 174,273
Schedule of loans receivable	The following reflects the credit quality of the Company’s loans receivable as of June 30, 2022 and December 31, 2021 as delinquency status has been identified as the primary credit quality indicator. The Company classifies its loans as either current or past due. A customer in good standing may request up to a 16-day grace period when or before a payment becomes due and, if granted, the loan is considered current during the grace period. In response to the COVID-19 pandemic, the Company, along with the banks it supports, had also expanded existing payment flexibility programs to provide temporary payment relief to certain customers who meet the program’s qualifications. These programs allow for a deferral of payments for an initial period of 30 to 60 days, which the Company may extend for an additional 30 days, generally for a maximum of 180 days on a cumulative basis. A customer will return to the normal payment schedule after the end of the deferral period, with the extension of the maturity date equivalent to the deferral period, which is generally not to exceed an additional 180 days. Under the COVID-19 payment flexibility programs, customers that were 30 days past due or less as of March 1, 2020 or the date the customer requested the deferral are considered current. Customers more than 30 days past due as of March 1, 2020 or the date the customer requested the deferral are considered delinquent. The COVID-19-specific payment flexibility programs were no longer offered effective July 1, 2021, eliminating any new payment deferrals up to 180 days. The Company, along with the bank originators it supports, continues to offer other payment flexibility progra ms if certain qualifications are met. As of June 30, 2022, 2.8% of customers that had loan balances outstanding have been provided relief through a payment deferral program for a total of $15 million in loans with deferred payments . Installment loans, lines of credit and credit cards not impacted by COVID are considered past due if a grace period has not been requested and a scheduled payment is not paid on its due date. All impaired loans that were not accounted for as a TDR as of June 30, 2022 and December 31, 2021 have been charged off. Loans Receivable at Fair Value On January 1, 2022, the Company elected the fair value option for the loans receivable portfolio under the transition relief provided under ASU 2019-05 in connection with its adoption of ASU 2016-13. June 30, 2022 (Dollars in thousands) Rise Elastic Today Total Current loans $ 258,947 $ 189,264 $ 42,570 $ 490,781 Past due loans 37,387 14,370 10,795 62,552 Total loans receivable 296,334 203,634 53,365 553,333 Net unamortized loan premium 374 1,805 — 2,179 Loans receivable, at book $ 296,708 $ 205,439 $ 53,365 $ 555,512 June 30, 2022 (Dollars in thousands) Total Loans receivable - principal - accrual $ 524,410 Loans receivable - principal - non-accrual 8,023 Total Loans receivable - principal 532,433 Loans receivable - principal, at fair value - accrual 578,038 Loans receivable - principal, at fair value - non-accrual 7,833 Loans receivable - principal, at fair value (excluding accrued interest and fees) $ 585,871 Accrued interest and fees receivable 23,079 Loans receivable at fair value $ 608,950 Difference between Loans receivable - principal and Loans receivable - principal, at fair value $ 53,438
Changes in the fair value of loans receivable	The changes in the fair value of Loans receivable at fair value during the three and six months ended June 30, 2022 are as follows: (Dollars in thousands) Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 Balance beginning of period $ 584,154 $ 639,545 Originations, including premium paid 246,682 453,379 Interest and fees, including premium amortization 117,661 240,202 Repayments (278,091) (578,561) Charge-offs, net (1) (65,050) (141,869) Net change in fair value (1) 3,594 (3,746) Balance end of period $ 608,950 $ 608,950 1) Included in Change in fair value of loans receivable in the Condensed Consolidated Statements of Operations Loans Receivable at Amortized Cost Prior to January 1, 2022, the Company carried all loans receivable at amortized cost, including accrued interest, loan premium and allowance for loan losses. December 31, 2021 (Dollars in thousands) Rise Elastic Today Total Current loans $ 282,276 $ 190,946 $ 40,994 $ 514,216 Past due loans 41,607 14,860 9,224 65,691 Total loans receivable 323,883 205,806 50,218 579,907 Net unamortized loan premium 407 2,047 — 2,454 Less: Allowance for loan losses (48,219) (16,698) (6,287) (71,204) Loans receivable, net $ 276,071 $ 191,155 $ 43,931 $ 511,157
Changes in the allowance for loan losses	The changes in the allowance for loan losses during the three and six months ended June 30, 2021 were as follows: Three Months Ended June 30, 2021 (Dollars in thousands) Rise Elastic Today Total Balance beginning of period $ 26,592 $ 10,749 $ 1,818 $ 39,159 Provision for loan losses 20,856 5,454 915 27,225 Charge-offs (21,502) (6,530) (910) (28,942) Recoveries of prior charge-offs 2,153 699 27 2,879 Total 28,099 10,372 1,850 40,321 Accrual for CSO lender owned loans (7) — — (7) Balance end of period $ 28,092 $ 10,372 $ 1,850 $ 40,314 Six Months Ended June 30, 2021 (Dollars in thousands) Rise Elastic Today Total Balance beginning of period $ 33,968 $ 13,201 $ 1,910 $ 49,079 Provision for loan losses 36,154 10,545 1,496 48,195 Charge-offs (46,275) (14,913) (1,619) (62,807) Recoveries of prior charge-offs 4,252 1,539 63 5,854 Total 28,099 10,372 1,850 40,321 Accrual for CSO lender owned loans (7) — — (7) Balance end of period $ 28,092 $ 10,372 $ 1,850 $ 40,314

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of the assets and liabilities of the VIE	The following table summarizes the aggregated assets and liabilities of the VIEs that are included within the Company’s Condensed Consolidated Balance Sheets June 30, 2022 and December 31, 2021: (Dollars in thousands) June 30, 2022 December 31, 2021 ASSETS Cash and cash equivalents $ 45,199 $ 53,195 Restricted cash 1,000 1,000 Loans receivable at fair value 456,318 — Loans receivable, net of allowance for loan losses of $53,100 — 366,932 Prepaid expenses and other assets 10 16 Receivable from payment processors ($617 and $562 respectively, eliminates upon consolidation) 6,519 13,076 Total assets $ 509,046 $ 434,219 LIABILITIES Accounts payable and accrued liabilities ($55,733 and $8,681 respectively, eliminates upon consolidation) $ 66,740 $ 17,643 Deferred revenue 3,159 4,346 Reserve deposit liability ($67,200 and $28,100, respectively, eliminates upon consolidation) 67,200 28,100 Notes payable, net 371,947 384,130 Total liabilities $ 509,046 $ 434,219 The following tables provides a summary of the aggregated operating results of the VIEs that are included within the Company’s Condensed Consolidated Statements of Operations at June 30, 2022 and 2021: Three Months Ended June 30, (Dollars in thousands) 2022 2021 Revenues $ 93,540 $ 63,091 Change in fair value of loans receivable (44,186) — Loan loss provision — (19,810) Other cost of sales ($36,018 and $33,738, respectively, eliminates upon consolidation (1) ) (39,562) (35,312) Gross profit 9,792 7,969 Interest expense (8,580) (6,714) Net income $ — $ — Six Months Ended June 30, (Dollars in thousands) 2022 2021 Revenues $ 191,676 $ 126,396 Change in fair value of loans receivable (108,035) — Loan loss provision — (33,975) Other cost of sales ($58,148 and $74,192, respectively, eliminates upon consolidation (1) ) (63,725) (76,902) Gross profit 19,916 15,519 Interest expense (17,568) (13,211) Net income $ — $ — (1) Includes the Credit Default Premium and other fee amounts eliminated in consolidation.

NOTES PAYABLE, NET (Tables)

NOTES PAYABLE, NET (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Outstanding balance of notes payable, net of debt issuance costs	The outstanding balances of Notes payable, net of debt issuance costs, are as follows: (Dollars in thousands) June 30, 2022 December 31, 2021 US Term Note bearing interest at the base rate + 7.0% $ 84,600 $ 84,600 ESPV Term Note bearing interest at the base rate + 7.0% 192,100 192,100 EF SPV Term Note bearing interest at the base rate + 7.0% 130,300 137,800 EC SPV Term Note bearing interest at the base rate + 7.0% 50,500 55,500 TSPV Term Note bearing interest at the base rate + 3.60% 40,000 37,000 Pine Hill Term Note bearing interest at the base rate + 13.25% 20,000 — Debt issuance costs (1,524) (1,723) Total $ 515,976 $ 505,277
Future debt maturities	Future debt maturities as of June 30, 2022 are as follows: Year (dollars in thousands) June 30, 2022 Remainder of 2022 $ — 2023 — 2024 477,500 2025 40,000 2026 — Thereafter — Total $ 517,500

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying value of acquired finite-lived intangible assets	The carrying value of acquired intangible assets as of June 30, 2022 is presented in the table below: (Dollars in thousands) Cost Accumulated Amortization Net Assets subject to amortization: Acquired technology $ 211 $ (211) $ — Non-compete 2,461 (2,461) — Customers 126 (126) — Assets not subject to amortization: Domain names 231 — 231 Total $ 3,029 $ (2,798) $ 231 The carrying value of acquired intangible assets as of December 31, 2021 is presented in the table below: (Dollars in thousands) Cost Accumulated Amortization Net Assets subject to amortization: Acquired technology $ 211 $ (211) $ — Non-compete 2,461 (2,461) — Customers 126 (126) — Assets not subject to amortization: Domain names 231 — 231 Total $ 3,029 $ (2,798) $ 231
Carrying value of acquired indefinite-lived intangible assets	The carrying value of acquired intangible assets as of June 30, 2022 is presented in the table below: (Dollars in thousands) Cost Accumulated Amortization Net Assets subject to amortization: Acquired technology $ 211 $ (211) $ — Non-compete 2,461 (2,461) — Customers 126 (126) — Assets not subject to amortization: Domain names 231 — 231 Total $ 3,029 $ (2,798) $ 231 The carrying value of acquired intangible assets as of December 31, 2021 is presented in the table below: (Dollars in thousands) Cost Accumulated Amortization Net Assets subject to amortization: Acquired technology $ 211 $ (211) $ — Non-compete 2,461 (2,461) — Customers 126 (126) — Assets not subject to amortization: Domain names 231 — 231 Total $ 3,029 $ (2,798) $ 231

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Summary of total lease cost and supplemental cash flow information	Total gross lease cost for the three and six months ended June 30, 2022 and 2021, included in Occupancy and equipment in the Condensed Consolidated Statements of Operations, is detailed in the table below: Three Months Ended June 30, Lease cost (dollars in thousands) 2022 2021 Operating lease cost $ 680 $ 768 Short-term lease cost — — Total lease cost $ 680 $ 768 Six Months Ended June 30, Lease cost (dollars in thousands) 2022 2021 Operating lease cost $ 1,443 $ 1,535 Short-term lease cost — — Total lease cost $ 1,443 $ 1,535 Further information related to leases is as follows: Three Months Ended June 30, Supplemental cash flows information (dollars in thousands) 2022 2021 Cash paid for amounts included in the measurement of lease liabilities $ 902 $ 960 Right-of-use assets obtained in exchange for lease obligations (1) $ 6,994 $ — Weighted average remaining lease term 7.3 years 3.1 years Weighted average discount rate 8.49 % 10.23 % Six Months Ended June 30, Supplemental cash flows information (dollars in thousands) 2022 2021 Cash paid for amounts included in the measurement of lease liabilities $ 1,887 $ 1,918 Right-of-use assets obtained in exchange for lease obligations (1) $ 6,994 $ — Weighted average remaining lease term 7.3 years 3.1 years Weighted average discount rate 8.49 % 10.23 % (1) Related to Fort Worth corporate headquarters lease modification..
Summary of future lease payments	Future minimum lease payments as of June 30, 2022 are as follows: Year (dollars in thousands) Operating Leases 2022 $ 1,754 2023 3,415 2024 3,204 2025 3,218 2026 2,639 Thereafter 8,191 Total future minimum lease payments $ 22,420 Less: Imputed interest (5,689) Operating lease liabilities $ 16,731

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Summary of stock option activity	A summary of stock option activity as of and for the six months ended June 30, 2022 is presented below: Stock Options Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Outstanding at December 31, 2021 796,685 $ 6.19 Granted — — Exercised — — Expired — — Forfeited (68,750) 5.84 Outstanding at June 30, 2022 727,935 6.22 2.72 Options exercisable at June 30, 2022 727,935 $ 6.22 2.72
Summary of restricted stock units activity	A summary of RSU activity as of and for the six months ended June 30, 2022 is presented below: RSUs Shares Weighted Average Grant-Date Fair Value Unvested at December 31, 2021 3,691,983 $ 3.97 Granted 2,473,776 2.88 Vested (1) (1,044,435) 4.31 Forfeited (181,352) 3.71 Unvested at June 30, 2022 4,939,972 3.36 Expected to vest at June 30, 2022 3,660,559 $ 3.37 (1) Certain RSUs were net share-settled to cover the required withholding tax and the remaining amounts were converted into an equivalent number of shares of the Company's common stock. The Company withheld 266,751 shares for applicable income and other employment taxes and remitted the cash to the appropriate taxing authorities for the six months ended June 30, 2022.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of fair value, assets and liabilities measured on recurring basis	The following table contains the Company's financial assets and liabilities that are measured at fair value on a recurring basis in the Condensed Consolidated Balance Sheets as of June 30, 2022: June 30, 2022 Fair Value Measurement Using (Dollars in thousands) Level 1 Level 2 Level 3 Financial assets: Loans receivable at fair value (1) $ 608,950 $ — $ — $ 608,950 Total $ 608,950 $ — $ — $ 608,950 (1) Loans receivable at fair value includes assets of consolidated VIEs. See Note 4 - Variable Interest Entities for more information.
Schedule of fair value, assets measured on recurring basis, unobservable input reconciliation	The table below presents quantitative information about the key unobservable inputs used for the Company's loans receivable fair value measurements as of June 30, 2022. June 30, 2022 Credit loss rate 17 % Prepayment rate 27 % Discount rate 21 %
Schedule of fair value, by balance sheet grouping	The following tables contain the Company's financial assets and liabilities that are not measured at fair value in the Condensed Consolidated Balance Sheets as of June 30, 2022 and December 31, 2021: June 30, 2022 Fair Value Measurement Using (Dollars in thousands) Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 73,960 $ 73,960 $ — $ — Restricted cash 5,036 5,036 — — Receivable from payment processors 7,935 — — 7,935 Total $ 86,931 $ 78,996 $ — $ 7,935 Financial liabilities: Accounts payable and accrued liabilities $ 60,802 $ — $ — $ 60,802 Notes payable, net 515,976 — — 515,976 Total $ 576,778 $ — $ — $ 576,778 December 31, 2021 Fair Value Measurement Using (Dollars in thousands) Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 84,978 $ 84,978 $ — $ — Restricted cash 5,874 5,874 — — Loans receivable, net of allowance for loan losses 511,157 — — 639,545 Receivable from payment processors 15,870 — — 15,870 Total $ 617,879 $ 90,852 $ — $ 655,415 Financial liabilities: Accounts payable and accrued liabilities $ 82,513 $ — $ — $ 82,513 Notes payable, net 505,277 — — 505,277 Total $ 587,790 $ — $ — $ 587,790

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Schedule of income tax expense	Income tax expense for the three and six months ended June 30, 2022 and 2021 consists of the following: Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2022 2021 2022 2021 Current income tax expense (benefit): State $ 78 $ (40) 125 46 Total current income tax expense (benefit) 78 (40) 125 46 Deferred income tax expense (benefit): Federal 2,230 1,116 (3,682) 4,693 State (2,882) (848) (1,246) (1,067) Total deferred income tax expense (benefit) (652) 268 (4,928) 3,626 Total income tax expense (benefit) $ (574) $ 228 $ (4,803) $ 3,672

COMMITMENTS, CONTINGENCIES AN_2

COMMITMENTS, CONTINGENCIES AND GUARANTEES (Tables)	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Rollforward of amounts accrued	The table below presents a roll forward of the net amounts accrued and paid for the three and six months ended June 30, 2022 and 2021. Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2022 2021 2022 2021 Beginning balance $ 1,700 $ — $ 1,700 $ 4,424 Accruals — (510) — (510) Payments (653) 510 (653) (3,914) Net contingent loss related to a legal matter $ 1,047 $ — $ 1,047 $ —

RELATED PARTIES (Tables)

RELATED PARTIES (Tables)	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Schedule of related party expenses	Expenses related to the Company's board of directors, including board fees, travel reimbursements and share-based compensation for the three and six months ended June 30, 2022 and 2021 are included in Professional services within the Condensed Consolidated Statements of Operations and were as follows: Three Months Ended June 30, (Dollars in thousands) 2022 2021 Fees and travel expenses $ 193 $ 135 Stock compensation 239 107 Total board related expenses $ 432 $ 242 Six Months Ended June 30, (Dollars in thousands) 2022 2021 Fees and travel expenses $ 349 $ 257 Stock compensation 393 186 Total board related expenses $ 742 $ 443 Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2022 2021 2022 2021 Beginning balance $ 152 $ — $ 135 $ — Accruals (included in Professional services in the Condensed Consolidated Statements of Operations) 8 911 98 911 Payments (9) — (82) — Net accrual related to the advance of legal fees $ 151 $ 911 $ 151 $ 911

BASIS OF PRESENTATION AND ACC_4

BASIS OF PRESENTATION AND ACCOUNTING CHANGES - Narrative (Details)		1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 01, 2022 USD ($) installment	Mar. 31, 2020	Jun. 30, 2022 USD ($) geographic_location state	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) geographic_location state segment	Jun. 30, 2021 USD ($)	May 01, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Class of Stock [Line Items]
Loans, grace period before past due					16 days
Number of reportable segments | segment					1
Number of countries in which entity operates in | geographic_location			1		1
Goodwill, net			$ 6,776,000		$ 6,776,000				$ 6,776,000
Investment in unconsolidated affiliate			5,121,000		5,121,000				0
Equity method investment loss			(368,000)	$ 0	(712,000)	$ 0
Stockholders' equity			184,940,000	157,652,000	184,940,000	157,652,000		$ 191,003,000	108,971,000	$ 166,973,000	$ 163,858,000
Retained earnings / Accumulated deficit
Class of Stock [Line Items]
Stockholders' equity			21,319,000	(11,784,000)	21,319,000	(11,784,000)		$ 28,774,000	(55,162,000)	$ (8,052,000)	$ (20,101,000)
Cumulative Effect, Period of Adoption, Adjustment
Class of Stock [Line Items]
Stockholders' equity									98,603,000
Cumulative Effect, Period of Adoption, Adjustment | Retained earnings / Accumulated deficit
Class of Stock [Line Items]
Stockholders' equity									$ 98,603,000
Insurance Premium Financing Agreement | Notes Payable
Class of Stock [Line Items]
Face amount							$ 2,300,000
Number of monthly instalments | installment	7
Periodic principal and interest payment	$ 300,000
Stated interest rate (as a percent)	5.55%
Notes payable			2,000,000		$ 2,000,000
Cloud Computing Arrangements Costs
Class of Stock [Line Items]
Property, plant and equipment, useful Life					3 years
Capitalized computer software, amortization			400,000	$ 117,000	$ 617,000	$ 147,000
Installment Loans and Lines of Credit
Class of Stock [Line Items]
Minimum period past due for nonaccrual of finance charges and other fees					60 days
Period past due for loans to be classified as troubled debt restructuring (greater than)					60 days
Loan modifications not recognized as troubled debt restructuring, deferral period					6 months
Today
Class of Stock [Line Items]
Minimum period past due for nonaccrual of finance charges and other fees					90 days
Loans, grace period before past due					25 days
Period past dues for nonaccrual					120 days
Minimum
Class of Stock [Line Items]
Loans, initial deferral period		30 days			30 days
Projection period of financial performance used in income approach for fair value of reporting unit					6 years
Maximum
Class of Stock [Line Items]
Loans, initial deferral period		60 days			60 days
Loans, deferral period		180 days			180 days
Projection period of financial performance used in income approach for fair value of reporting unit					9 years
Elastic Reporting Unit
Class of Stock [Line Items]
Goodwill, net			$ 6,800,000		$ 6,800,000
Rise Product, Lines of Credit
Class of Stock [Line Items]
Number of states, rise product, lines of credit offered | state			2		2

BASIS OF PRESENTATION AND ACC_5

BASIS OF PRESENTATION AND ACCOUNTING CHANGES - Schedule of Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Property and equipment, gross	$ 147,266	$ 133,109
Accumulated depreciation and amortization	(108,486)	(100,005)
Property and equipment, net	$ 38,780	$ 33,104

BASIS OF PRESENTATION AND ACC_6

BASIS OF PRESENTATION AND ACCOUNTING CHANGES - Cloud Computing Arrangements (Details) - Cloud Computing Arrangements Costs - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Class of Stock [Line Items]
CCA implementation costs	$ 4,939	$ 3,557
Less: accumulated amortization	(1,189)	(572)
Net book value	$ 3,750	$ 2,985

EARNINGS PER SHARE - Computatio

EARNINGS PER SHARE - Computation of Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator (basic and diluted):
Net income (loss)	$ (6,545)	$ (13,923)	$ (3,045)	$ 12,716	$ (20,468)	$ 9,671
Denominator (basic):
Basic weighted average number of shares outstanding (in shares)	31,238,159		35,132,980		31,301,983	35,591,583
Denominator (diluted):
Basic weighted average number of shares outstanding (in shares)	31,238,159		35,132,980		31,301,983	35,591,583
Effect of potentially dilutive securities:
Employee share plans (options, RSUs and ESPP) (in shares)	0		0		0	740,048
Diluted weighted average number of shares outstanding (in shares)	31,238,159		35,132,980		31,301,983	36,331,631
Basic and diluted earnings (loss) per share:
Basic earnings (loss) per share (in usd per share)	$ (0.21)		$ (0.09)		$ (0.65)	$ 0.27
Diluted earnings (loss) per share (in usd per share)	$ (0.21)		$ (0.09)		$ (0.65)	$ 0.27

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Stock options
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive shares (in shares)	772,797	869,923	789,982	874,289
RSUs
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive shares (in shares)	4,337,676	3,226,318	3,778,968	2,087,680

LOANS RECEIVABLE AND REVENUE -

LOANS RECEIVABLE AND REVENUE - Revenue from Consumer Loans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total revenues	$ 117,606	$ 84,540	$ 241,850	$ 174,273
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total revenues	1,444	826	2,936	1,336
Finance charges
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenues	68,209	50,783	142,497	103,975
Lines of credit fees
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenues	47,953	32,880	96,417	68,360
CSO fees
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenues	$ 0	$ 51	$ 0	$ 602

LOANS RECEIVABLE AND REVENUE _2

LOANS RECEIVABLE AND REVENUE - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Receivables [Abstract]
Loans, grace period before past due	16 days
Loans, deferral period, additional extension period	30 days
Loans, deferral period, additional extension period	30 days
Loans, threshold period past due (more than)	30 days
Percentage of customers provided relief through payment deferral program	2.80%
Loans on deferred payment	$ 15,000
Interest receivable	23,100	$ 23,600
Loans receivable - principal - non-accrual	$ 8,023	$ 12,300

LOANS RECEIVABLE AND REVENUE _3

LOANS RECEIVABLE AND REVENUE - Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Total loans receivable	$ 553,333	$ 579,907
Net unamortized loan premium	2,179	2,454
Loans receivable, at book	555,512
Current loans
Financing Receivable, Past Due [Line Items]
Total loans receivable	490,781	514,216
Past due loans
Financing Receivable, Past Due [Line Items]
Total loans receivable	62,552	65,691
Rise
Financing Receivable, Past Due [Line Items]
Total loans receivable	296,334	323,883
Net unamortized loan premium	374	407
Loans receivable, at book	296,708
Rise | Current loans
Financing Receivable, Past Due [Line Items]
Total loans receivable	258,947	282,276
Rise | Past due loans
Financing Receivable, Past Due [Line Items]
Total loans receivable	37,387	41,607
Elastic
Financing Receivable, Past Due [Line Items]
Total loans receivable	203,634	205,806
Net unamortized loan premium	1,805	2,047
Loans receivable, at book	205,439
Elastic | Current loans
Financing Receivable, Past Due [Line Items]
Total loans receivable	189,264	190,946
Elastic | Past due loans
Financing Receivable, Past Due [Line Items]
Total loans receivable	14,370	14,860
Today
Financing Receivable, Past Due [Line Items]
Total loans receivable	53,365	50,218
Net unamortized loan premium	0	0
Loans receivable, at book	53,365
Today | Current loans
Financing Receivable, Past Due [Line Items]
Total loans receivable	42,570	40,994
Today | Past due loans
Financing Receivable, Past Due [Line Items]
Total loans receivable	$ 10,795	$ 9,224

LOANS RECEIVABLE AND REVENUE _4

LOANS RECEIVABLE AND REVENUE - Receivables (Details) - USD ($) $ in Thousands	Jun. 30, 2022		Mar. 31, 2022	Dec. 31, 2021		Jun. 30, 2021
Receivables [Abstract]
Loans receivable - principal - accrual	$ 524,410
Loans receivable - principal - non-accrual	8,023			$ 12,300
Total Loans receivable - principal	532,433
Loans receivable - principal, at fair value - accrual	578,038
Loans receivable - principal, at fair value - non-accrual	7,833
Loans receivable - principal, at fair value (excluding accrued interest and fees)	585,871
Accrued interest and fees receivable	23,079
Loans receivable at fair value	608,950	[1]	$ 584,154	0	[1]
Difference between Loans receivable - principal and Loans receivable - principal, at fair value	$ 53,438			$ 71,204		$ 40,314
[1]These balances include certain assets and liabilities of variable interest entities (“VIEs”) that can only be used to settle the liabilities of that respective VIE. All assets of the Company are pledged as security for the Company’s outstanding debt, including debt held by the VIEs. For further information regarding the assets and liabilities included in the Company's consolidated accounts, see Note 4—Variable Interest Entities.

LOANS RECEIVABLE AND REVENUE _5

LOANS RECEIVABLE AND REVENUE - Changes in Fair Value of Loans Receivable (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
		Jun. 30, 2022	Jun. 30, 2022
Loans Receivable, Fair Value Disclosure [Roll Forward]
Balance beginning of period		$ 584,154	$ 0	[1]
Originations, including premium paid		246,682	453,379
Interest and fees, including premium amortization		117,661	240,202
Repayments		(278,091)	(578,561)
Charge-offs, net		(65,050)	(141,869)
Net change in fair value		3,594	(3,746)
Balance end of period	[1]	$ 608,950	608,950
Cumulative Effect, Period of Adoption, Adjustment
Loans Receivable, Fair Value Disclosure [Roll Forward]
Balance beginning of period			$ 639,545
[1]These balances include certain assets and liabilities of variable interest entities (“VIEs”) that can only be used to settle the liabilities of that respective VIE. All assets of the Company are pledged as security for the Company’s outstanding debt, including debt held by the VIEs. For further information regarding the assets and liabilities included in the Company's consolidated accounts, see Note 4—Variable Interest Entities.

LOANS RECEIVABLE AND REVENUE _6

LOANS RECEIVABLE AND REVENUE - Amortized Cost (Details) - USD ($) $ in Thousands		Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable		$ 553,333	$ 579,907
Net unamortized loan premium		2,179	2,454
Less: Allowance for loan losses		(53,438)	(71,204)	$ (40,314)
Loans receivable, at book	[1]	0	511,157
Current loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable		490,781	514,216
Past due loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable		62,552	65,691
Rise
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable		296,334	323,883
Net unamortized loan premium		374	407
Less: Allowance for loan losses			(48,219)	(28,092)
Loans receivable, at book			276,071
Rise | Current loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable		258,947	282,276
Rise | Past due loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable		37,387	41,607
Elastic
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable		203,634	205,806
Net unamortized loan premium		1,805	2,047
Less: Allowance for loan losses			(16,698)	(10,372)
Loans receivable, at book			191,155
Elastic | Current loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable		189,264	190,946
Elastic | Past due loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable		14,370	14,860
Today
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable		53,365	50,218
Net unamortized loan premium		0	0
Less: Allowance for loan losses			(6,287)	$ (1,850)
Loans receivable, at book			43,931
Today | Current loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable		42,570	40,994
Today | Past due loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable		$ 10,795	$ 9,224
[1]These balances include certain assets and liabilities of variable interest entities (“VIEs”) that can only be used to settle the liabilities of that respective VIE. All assets of the Company are pledged as security for the Company’s outstanding debt, including debt held by the VIEs. For further information regarding the assets and liabilities included in the Company's consolidated accounts, see Note 4—Variable Interest Entities.

LOANS RECEIVABLE AND REVENUE _7

LOANS RECEIVABLE AND REVENUE - Changes in Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance beginning of period		$ 39,159		$ 49,079
Provision for loan losses	$ 0	27,225	$ 0	48,195
Charge-offs		(28,942)		(62,807)
Recoveries of prior charge-offs		2,879		5,854
Balance end of period		40,321		40,321
Accrual for CSO lender owned loans		(7)		(7)
Difference between Loans receivable - principal and Loans receivable - principal, at fair value	$ 53,438	40,314	$ 53,438	40,314	$ 71,204
Rise
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance beginning of period		26,592		33,968
Provision for loan losses		20,856		36,154
Charge-offs		(21,502)		(46,275)
Recoveries of prior charge-offs		2,153		4,252
Balance end of period		28,099		28,099
Accrual for CSO lender owned loans		(7)		(7)
Difference between Loans receivable - principal and Loans receivable - principal, at fair value		28,092		28,092	48,219
Elastic
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance beginning of period		10,749		13,201
Provision for loan losses		5,454		10,545
Charge-offs		(6,530)		(14,913)
Recoveries of prior charge-offs		699		1,539
Balance end of period		10,372		10,372
Accrual for CSO lender owned loans		0		0
Difference between Loans receivable - principal and Loans receivable - principal, at fair value		10,372		10,372	16,698
Today
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance beginning of period		1,818		1,910
Provision for loan losses		915		1,496
Charge-offs		(910)		(1,619)
Recoveries of prior charge-offs		27		63
Balance end of period		1,850		1,850
Accrual for CSO lender owned loans		0		0
Difference between Loans receivable - principal and Loans receivable - principal, at fair value		$ 1,850		$ 1,850	$ 6,287

VARIABLE INTEREST ENTITIES - Na

VARIABLE INTEREST ENTITIES - Narrative (Details)	6 Months Ended
	Jun. 30, 2022 entity
Variable Interest Entity [Line Items]
Variable interest entity, number of entities	4
Third-Party Lender
Variable Interest Entity [Line Items]
Loan purchase right percentage	5%
Variable Interest Entity, Primary Beneficiary | Elastic SPV, Ltd.
Variable Interest Entity [Line Items]
Loan purchase right percentage	90%
Variable Interest Entity, Primary Beneficiary | EF SPV, Ltd.
Variable Interest Entity [Line Items]
Loan purchase right percentage	96%
Variable Interest Entity, Primary Beneficiary | EC SPV, Ltd.
Variable Interest Entity [Line Items]
Loan purchase right percentage	95%
Credit Services Organization Lenders
Variable Interest Entity [Line Items]
Variable interest entity, number of entities	1

VARIABLE INTEREST ENTITIES - Su

VARIABLE INTEREST ENTITIES - Summary of Assets and Liabilities (Details) - USD ($) $ in Thousands		Jun. 30, 2022		Mar. 31, 2022	Dec. 31, 2021		Jun. 30, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents		$ 73,960	[1]		$ 84,978	[1]	$ 105,782	$ 197,983
Restricted cash		5,036	[1]		5,874	[1]	3,862	$ 3,135
Loans receivable at fair value		608,950	[1]	$ 584,154	0	[1]
Loans receivable, net of allowance for loan losses of $53,100	[1]	0			511,157
Difference between Loans receivable - principal and Loans receivable - principal, at fair value		53,438			71,204		$ 40,314
Prepaid expenses and other assets	[1]	14,640			12,745
Financing Receivables, Payment Processors	[1]	7,935			15,870
Total assets		782,012			710,682
LIABILITIES
Accounts payable and accrued liabilities	[1]	60,802			82,513
Long-term Debt	[1]	515,976			505,277
Total liabilities		597,072			601,711
Variable Interest Entity, Primary Beneficiary
ASSETS
Cash and cash equivalents		45,199			53,195
Restricted cash		1,000			1,000
Loans receivable at fair value		456,318			0
Loans receivable, net of allowance for loan losses of $53,100		0			366,932
Difference between Loans receivable - principal and Loans receivable - principal, at fair value					53,100
Prepaid expenses and other assets		10			16
Financing Receivables, Payment Processors		6,519			13,076
Total assets		509,046			434,219
LIABILITIES
Accounts payable and accrued liabilities		66,740			17,643
Deferred revenue		3,159			4,346
Reserve deposit liability		67,200			28,100
Long-term Debt		371,947			384,130
Total liabilities		509,046			434,219
Variable Interest Entity, Primary Beneficiary | Consolidation, Eliminations
ASSETS
Financing Receivables, Payment Processors		617			562
LIABILITIES
Accounts payable and accrued liabilities		55,733			8,681
Reserve deposit liability		$ 67,200			$ 28,100
[1]These balances include certain assets and liabilities of variable interest entities (“VIEs”) that can only be used to settle the liabilities of that respective VIE. All assets of the Company are pledged as security for the Company’s outstanding debt, including debt held by the VIEs. For further information regarding the assets and liabilities included in the Company's consolidated accounts, see Note 4—Variable Interest Entities.

VARIABLE INTEREST ENTITIES - _2

VARIABLE INTEREST ENTITIES - Summary of Company Consolidated Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Variable Interest Entity [Line Items]
Revenues	$ 117,606		$ 84,540		$ 241,850	$ 174,273
Change in fair value of loans receivable	(61,456)		0		(145,615)	0
Loan loss provision	0		(27,225)		0	(48,195)
Other cost of sales	(3,163)		(2,905)		(6,045)	(4,952)
Gross profit	45,159		43,846		76,136	106,179
Interest expense	(12,126)		(8,567)		(24,296)	(17,353)
Net income	(6,545)	$ (13,923)	(3,045)	$ 12,716	(20,468)	9,671
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Revenues	93,540		63,091		191,676	126,396
Change in fair value of loans receivable	(44,186)		0		(108,035)	0
Loan loss provision	0		(19,810)		0	(33,975)
Other cost of sales	(39,562)		(35,312)		(63,725)	(76,902)
Gross profit	9,792		7,969		19,916	15,519
Interest expense	(8,580)		(6,714)		(17,568)	(13,211)
Net income	0		0		0	0
Variable Interest Entity, Primary Beneficiary | Consolidation, Eliminations
Variable Interest Entity [Line Items]
Other cost of sales	$ (36,018)		$ (33,738)		$ (58,148)	$ (74,192)

NOTES PAYABLE, NET- Narrative (

NOTES PAYABLE, NET- Narrative (Details)	6 Months Ended
	Jun. 30, 2022 debt_facility
VPC
Debt Instrument [Line Items]
Number of debt facilities	4

NOTES PAYABLE, NET - VPC Facili

NOTES PAYABLE, NET - VPC Facility Narrative (Details) - US Term Note (VPC) - Term Notes - Line of Credit - USD ($)				6 Months Ended	12 Months Ended
	Jan. 01, 2021	Jan. 01, 2020	Feb. 01, 2019	Jun. 30, 2022	Dec. 31, 2021	Jul. 31, 2020
Debt Instrument [Line Items]
Maximum borrowing amount						$ 200,000,000
Blended interest rate (as a percent)			10.23%	9.40%	9.40%
Option to pay down amount outstanding, percentage (up to) (as a percent)				20%
Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			2.73%	7%	7%
Greater of 3-month London Interbank Offered Rate (LIBOR) or Five-Year LIBOR Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	7%	7.25%	7.50%	7%
Basis rate, floor (as a percent)				1%
Weighted Average | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				2.40%	2.40%

NOTES PAYABLE, NET - ESPV Facil

NOTES PAYABLE, NET - ESPV Facility Narrative (Details) - Line of Credit - ESPV Term Note - USD ($)					6 Months Ended	12 Months Ended
	Jan. 01, 2021	Jan. 01, 2020	Jul. 01, 2019	Feb. 01, 2019	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Maximum borrowing amount					$ 350,000,000
Blended interest rate (as a percent)			10.23%	15.48%	9.43%	9.43%
Option to pay down amount outstanding, percentage (up to) (as a percent)					20%
Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			2.73%	2.73%	7%	7%
Base Rate | Weighted Average
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)					2.43%	2.43%
Greater of 3-month London Interbank Offered Rate (LIBOR) or Five-Year LIBOR Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	7%	7.25%	7.50%	12.75%
Basis rate, floor (as a percent)					1%

NOTES PAYABLE, NET - EF SPV Fac

NOTES PAYABLE, NET - EF SPV Facility Narrative (Details) - EF SPV Facility - Line of Credit - USD ($)				6 Months Ended	12 Months Ended
	Jan. 01, 2021	Jan. 01, 2020	Feb. 01, 2019	Jun. 30, 2022	Dec. 31, 2021	Jul. 31, 2020
Line of Credit Facility [Line Items]
Maximum borrowing amount						$ 250,000,000
Stated interest rate (as a percent)			10.23%
Blended interest rate (as a percent)				8.83%	8.84%
Option to pay down amount outstanding, percentage (up to) (as a percent)				20%
Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)			2.73%	7%	7%
Base Rate | Weighted Average
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)				1.83%	1.84%
Greater of 3-month London Interbank Offered Rate (LIBOR) or Five-Year LIBOR Swap Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)	7%	7.25%	7.50%
Basis rate, floor (as a percent)				1%

NOTES PAYABLE, NET - EC SPV Fac

NOTES PAYABLE, NET - EC SPV Facility Narrative (Details) - EC SPV Facility - Line of Credit - USD ($)		6 Months Ended	12 Months Ended
	Jul. 31, 2020	Jun. 30, 2022	Dec. 31, 2021
Line of Credit Facility [Line Items]
Blended interest rate (as a percent)		9.22%	9.09%
Weighted Average | Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)		2.22%	0.0209%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing amount	$ 100,000,000
Basis rate, floor (as a percent)	1%
Revolving Credit Facility | Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)	7%	7%	7%
Medium-term Notes
Line of Credit Facility [Line Items]
Option to pay down amount outstanding, percentage (up to) (as a percent)	20%

NOTES PAYABLE, NET - TSPV Facil

NOTES PAYABLE, NET - TSPV Facility Narrative (Details) - TSPV Term Note - Line of Credit - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021	Oct. 12, 2021
Line of Credit Facility [Line Items]
Blended interest rate (as a percent)	7.60%	6.85%
Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)	4%	3.25%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing amount			$ 50,000,000
Line of credit facility, accordion feature, maximum increase limit			$ 100,000,000
Revolving Credit Facility | Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)	3.60%	3.60%
Revolving Credit Facility | Wall Street Journal Prime Rate
Line of Credit Facility [Line Items]
Basis rate, floor (as a percent)	3.25%

NOTES PAYABLE, NET - Pine Hill

NOTES PAYABLE, NET - Pine Hill Facility Narrative (Details) - Pine Hill Term Note - Line of Credit - USD ($)	1 Months Ended	6 Months Ended
	Jan. 31, 2022	Jun. 30, 2022
Debt Instrument [Line Items]
Blended interest rate (as a percent)		0.1476%
Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		1.51%
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing amount	$ 20,000,000
Revolving Credit Facility | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		13.25%
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	13.25%
Basis rate, floor (as a percent)	1%

NOTES PAYABLE, NET - Schedule o

NOTES PAYABLE, NET - Schedule of Outstanding Balances of Notes Payable, Net of Debt Issuance Costs (Details) - USD ($) $ in Thousands					6 Months Ended	12 Months Ended
		Jul. 31, 2020	Jul. 01, 2019	Feb. 01, 2019	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long term debt					$ 517,500
Debt issuance costs					(1,524)	$ (1,723)
Total	[1]				515,976	505,277
Line of Credit | US Term Note (VPC)
Debt Instrument [Line Items]
Long term debt					$ 84,600	$ 84,600
Line of Credit | US Term Note (VPC) | Base Rate | Term Notes
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				2.73%	7%	7%
Line of Credit | ESPV Term Note
Debt Instrument [Line Items]
Long term debt					$ 192,100	$ 192,100
Line of Credit | ESPV Term Note | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			2.73%	2.73%	7%	7%
Line of Credit | EF SPV Term Note
Debt Instrument [Line Items]
Long term debt					$ 130,300	$ 137,800
Line of Credit | EF SPV Term Note | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				2.73%	7%	7%
Line of Credit | EC SPV Facility
Debt Instrument [Line Items]
Long term debt					$ 50,500	$ 55,500
Line of Credit | EC SPV Facility | Base Rate | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		7%			7%	7%
Line of Credit | TSPV Term Note
Debt Instrument [Line Items]
Long term debt					$ 40,000	$ 37,000
Line of Credit | TSPV Term Note | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)					4%	3.25%
Line of Credit | TSPV Term Note | Base Rate | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)					3.60%	3.60%
Line of Credit | Pine Hill Term Note
Debt Instrument [Line Items]
Long term debt					$ 20,000	$ 0
Line of Credit | Pine Hill Term Note | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)					1.51%
Line of Credit | Pine Hill Term Note | Base Rate | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)					13.25%
[1]These balances include certain assets and liabilities of variable interest entities (“VIEs”) that can only be used to settle the liabilities of that respective VIE. All assets of the Company are pledged as security for the Company’s outstanding debt, including debt held by the VIEs. For further information regarding the assets and liabilities included in the Company's consolidated accounts, see Note 4—Variable Interest Entities.

NOTES PAYABLE, NET - VPC, ESPV,

NOTES PAYABLE, NET - VPC, ESPV, EF SPV and EC SPV Facilities Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2022	Jun. 30, 2021
Debt Instrument [Line Items]
Repayments of debt			$ 25,000	$ 112,550
Proceeds from notes payable			$ 35,500	$ 25,000
EF SPV Facility | Line of Credit
Debt Instrument [Line Items]
Repayments of debt		$ 15,000
Proceeds from notes payable	$ 7,500
EC SPV Facility | Line of Credit
Debt Instrument [Line Items]
Repayments of debt		10,000
Proceeds from notes payable	$ 5,000
TSPV Term Note | Line of Credit
Debt Instrument [Line Items]
Proceeds from notes payable		3,000
Pine Hill Term Note | Line of Credit
Debt Instrument [Line Items]
Proceeds from notes payable		$ 20,000

NOTES PAYABLE, NET - Future Deb

NOTES PAYABLE, NET - Future Debt Maturities (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Maturities of Long-term Debt [Abstract]
Remainder of 2022	$ 0
2023	0
2024	477,500
2025	40,000
2026	0
Thereafter	0
Total	$ 517,500

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Jan. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Goodwill [Line Items]
Goodwill, net		$ 6,776		$ 6,776
Goodwill deductible for tax purposes		$ 229
Amortization expense			$ 602
Domain names
Goodwill [Line Items]
Gain on sale of domain name	$ 949
Minimum | Valuation, Income Approach
Goodwill [Line Items]
Goodwill, fair value, period		6 years
Maximum | Valuation, Income Approach
Goodwill [Line Items]
Goodwill, fair value, period		9 years

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, accumulated amortization	$ (2,798)	$ (2,798)
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible assets, cost	3,029	3,029
Finite-lived intangible assets, accumulated amortization	(2,798)	(2,798)
Intangible assets, net	231	231
Domain names
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	231	231
Acquired technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, cost	211	211
Finite-lived intangible assets, accumulated amortization	(211)	(211)
Finite-lived intangible assets, net	0	0
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Finite-lived intangible assets, accumulated amortization	(211)	(211)
Non-compete
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, cost	2,461	2,461
Finite-lived intangible assets, accumulated amortization	(2,461)	(2,461)
Finite-lived intangible assets, net	0	0
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Finite-lived intangible assets, accumulated amortization	(2,461)	(2,461)
Customers
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, cost	126	126
Finite-lived intangible assets, accumulated amortization	(126)	(126)
Finite-lived intangible assets, net	0	0
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Finite-lived intangible assets, accumulated amortization	$ (126)	$ (126)

LEASES - Narrative (Details)

LEASES - Narrative (Details)	1 Months Ended		6 Months Ended
	May 31, 2022 USD ($) ft²	Jan. 31, 2021 USD ($)	Jun. 30, 2022 USD ($) contract	Dec. 31, 2021 USD ($)
Lessee, Lease, Description [Line Items]
Term of option to extend (up to)			10 years
Operating lease right of use assets	$ 7,000,000		$ 11,213,000	$ 5,718,000
Operating lease liabilities	$ 9,600,000		$ 16,731,000	$ 9,171,000
Number of sublease contracts entered into | contract			1
Impairment loss of subleased right of use assets		$ 549,000
Total leased space | ft²	73,984
Incentive to lessee	$ 2,600,000
Gains recognized on nonoperating income	80,800
Operating lease, income statement, right of use assets	600,600
Operating lease, income statement, lease liabilities	$ 681,300
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term			2 years
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term			8 years

LEASES - Summary of Total Lease

LEASES - Summary of Total Lease Cost and Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Operating lease cost	$ 680	$ 768	$ 1,443	$ 1,535
Short-term lease cost	0	0	0	0
Total lease cost	680	768	1,443	1,535
Cash paid for amounts included in the measurement of lease liabilities	902	960	1,887	1,918
Right-of-use assets obtained in exchange for lease obligations	$ 6,994	$ 0	$ 6,994	$ 0
Weighted average remaining lease term	7 years 3 months 18 days	3 years 1 month 6 days	7 years 3 months 18 days	3 years 1 month 6 days
Weighted average discount rate (as a percent)	8.49%	10.23%	8.49%	10.23%

LEASES - Summary of Future Leas

LEASES - Summary of Future Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2022	May 31, 2022	Dec. 31, 2021
Leases [Abstract]
2022	$ 1,754
2023	3,415
2024	3,204
2025	3,218
2026	2,639
Thereafter	8,191
Total future minimum lease payments	22,420
Less: Imputed interest	(5,689)
Operating lease liabilities	$ 16,731	$ 9,600	$ 9,171

SHARE-BASED COMPENSATION - 2016

SHARE-BASED COMPENSATION - 2016 Omnibus Incentive Plan and 2014 Equity Incentive Plan Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 2.3	$ 1.8	$ 3.9	$ 3.4
2016 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for issuance (in shares)	8,307,458		8,307,458
Plan expiration period			10 years
Shares available for grant (in shares)	2,639,548		2,639,548

SHARE-BASED COMPENSATION - Stoc

SHARE-BASED COMPENSATION - Stock Options (Details) - Stock Option	6 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Plan expiration period	10 years
Vesting period	4 years
Stock Option Activity
Outstanding, beginning balance (in shares) | shares	796,685
Granted (in shares) | shares	0
Exercised (in shares) | shares	0
Expired (in shares) | shares	0
Forfeited (in shares) | shares	(68,750)
Outstanding, ending balance (in shares) | shares	727,935
Weighted Average Exercise Price
Outstanding, Weighted Average Exercise Price, beginning balance (in usd per share) | $ / shares	$ 6.19
Granted, Weighted Average Exercise Price (in usd per share) | $ / shares	0
Exercised, Weighted Average Exercise Price (in usd per share) | $ / shares	0
Expired, Weighted Average Expired Price (in usd per share) | $ / shares	0
Forfeited, Weighted Average Exercise Price (in usd per share) | $ / shares	5.84
Outstanding, Weighted Average Exercise Price, ending balance (in usd per share) | $ / shares	$ 6.22
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options exercisable (in shares) | shares	727,935
Options exercisable, Weighted Average Exercise Price (in usd per share) | $ / shares	$ 6.22
Options Outstanding, Weighted Average Remaining Contractual Life	2 years 8 months 19 days
Options exercisable, Weighted Average Remaining Contractual Life	2 years 8 months 19 days
Unrecognized compensation cost related to non-vested stock | $	$ 0
Total intrinsic value of options exercised | $	$ 0

SHARE-BASED COMPENSATION - Rest

SHARE-BASED COMPENSATION - Restricted Stock Units (Details) - RSUs $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant-date fair value (in usd per share) | $ / shares	$ 2.88
Nonvested Restricted Stock Unit Activity
Unvested, beginning balance (in shares) | shares	3,691,983
Granted (in shares) | shares	2,473,776
Vested (in shares) | shares	(1,044,435)
Forfeited (in shares) | shares	(181,352)
Unvested, ending balance (in shares) | shares	4,939,972
Weighted Average Grant-Date Fair Value
Unvested, Weighted Average Grant Date Fair Value, beginning balance (in usd per share) | $ / shares	$ 3.97
Granted, Weighted Average Grant Date Fair Value (in usd per share) | $ / shares	2.88
Vested, Weighted Average Grant Date Fair Value (in usd per share) | $ / shares	4.31
Forfeited, Weighted Average Grant Date Fair Value (in usd per share) | $ / shares	3.71
Unvested, Weighted Average Grant Date Fair Value, ending balance (in usd per share) | $ / shares	$ 3.36
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Expected to vest (in shares) | shares	3,660,559
Expected to vest (in usd per share) | $ / shares	$ 3.37
Number of shares withheld for applicable income and other employment taxes (in shares) | shares	266,751
Unrecognized compensation | $	$ 9.4
Unrecognized compensation, weighted average period for recognition	2 years 4 months 24 days
Total intrinsic value of vested RSUs | $	$ 3.2
Aggregate intrinsic value of the vested and expected to vest RSUs | $	$ 8.5
2016 Omnibus Incentive Plan | Vesting as of first anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25%
2016 Omnibus Incentive Plan | Vesting each year after first anniversary date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25%

SHARE-BASED COMPENSATION - Empl

SHARE-BASED COMPENSATION - Employee Stock Purchase Plan Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 2,300	$ 1,800	$ 3,900	$ 3,400
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for the Employee Stock Purchase Plan (in shares)	2,514,365		2,514,365
Number of shares reserved for the Employee Stock Purchase Plan (in shares)	909,891		909,891
Number of shares purchased under the Employee Stock Purchase Plan (in shares)			190,945
Stock based compensation expense	$ 120	$ 171	$ 239	$ 342

FAIR VALUE MEASUREMENTS - Finan

FAIR VALUE MEASUREMENTS - Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2022		Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable at fair value	$ 608,950	[1]	$ 584,154	$ 0	[1]
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable at fair value	608,950			511,157
Level 1 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable at fair value	0			0
Level 2 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable at fair value	0			0
Level 3 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable at fair value	$ 608,950			$ 639,545
[1]These balances include certain assets and liabilities of variable interest entities (“VIEs”) that can only be used to settle the liabilities of that respective VIE. All assets of the Company are pledged as security for the Company’s outstanding debt, including debt held by the VIEs. For further information regarding the assets and liabilities included in the Company's consolidated accounts, see Note 4—Variable Interest Entities.

FAIR VALUE MEASUREMENTS - Loans

FAIR VALUE MEASUREMENTS - Loans Receivable Fair Value Measurements (Details)	Jun. 30, 2022
Credit loss rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans receivable, measurement input (as a percent)	17%
Prepayment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans receivable, measurement input (as a percent)	27%
Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans receivable, measurement input (as a percent)	21%

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair Value of Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022		Mar. 31, 2022	Dec. 31, 2021
Financial assets:
Loans receivable at fair value	$ 608,950	[1]	$ 584,154	$ 0	[1]
Fair Value, Recurring
Financial assets:
Cash and cash equivalents	73,960			84,978
Restricted cash	5,036			5,874
Receivable from payment processors	7,935
Loans receivable at fair value	608,950			511,157
Receivable from payment processors				15,870
Total	86,931			617,879
Financial liabilities:
Accounts payable and accrued liabilities	60,802			82,513
Notes payable, net	515,976			505,277
Total	576,778			587,790
Fair Value, Recurring | Level 1
Financial assets:
Cash and cash equivalents	73,960			84,978
Restricted cash	5,036			5,874
Receivable from payment processors	0
Loans receivable at fair value	0			0
Receivable from payment processors				0
Total	78,996			90,852
Financial liabilities:
Accounts payable and accrued liabilities	0			0
Notes payable, net	0			0
Total	0			0
Fair Value, Recurring | Level 2
Financial assets:
Cash and cash equivalents	0			0
Restricted cash	0			0
Receivable from payment processors	0
Loans receivable at fair value	0			0
Receivable from payment processors				0
Total	0			0
Financial liabilities:
Accounts payable and accrued liabilities	0			0
Notes payable, net	0			0
Total	0			0
Fair Value, Recurring | Level 3
Financial assets:
Cash and cash equivalents	0			0
Restricted cash	0			0
Receivable from payment processors	7,935
Loans receivable at fair value	608,950			639,545
Receivable from payment processors				15,870
Total	7,935			655,415
Financial liabilities:
Accounts payable and accrued liabilities	60,802			82,513
Notes payable, net	515,976			505,277
Total	$ 576,778			$ 587,790
[1]These balances include certain assets and liabilities of variable interest entities (“VIEs”) that can only be used to settle the liabilities of that respective VIE. All assets of the Company are pledged as security for the Company’s outstanding debt, including debt held by the VIEs. For further information regarding the assets and liabilities included in the Company's consolidated accounts, see Note 4—Variable Interest Entities.

INCOME TAXES - Schedule of Inco

INCOME TAXES - Schedule of Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Current income tax expense (benefit):
State	$ 78	$ (40)	$ 125	$ 46
Total current income tax expense (benefit)	78	(40)	125	46
Deferred income tax expense (benefit):
Federal	2,230	1,116	(3,682)	4,693
State	(2,882)	(848)	(1,246)	(1,067)
Total deferred income tax expense (benefit)	(652)	268	(4,928)	3,626
Total income tax expense (benefit)	$ (574)	$ 228	$ (4,803)	$ 3,672

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Effective tax rate (as a percent)	19%	27.50%
Unrecognized tax benefits	$ 1.5		$ 1.5
Unrecognized tax benefits that would impact effective tax rate	1.2
Income tax penalties accrued	$ 0.1
Period of cumulative pre-tax income position	3 years
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards			$ 84.1
Minimum
Operating Loss Carryforwards [Line Items]
Look forward period	1 year
Look forward period for majority of deferred tax assets	1 year
Maximum
Operating Loss Carryforwards [Line Items]
Look forward period	4 years
Look forward period for majority of deferred tax assets	4 years

COMMITMENTS, CONTINGENCIES AN_3

COMMITMENTS, CONTINGENCIES AND GUARANTEES - Narrative (Details) - USD ($)

1 Months Ended

6 Months Ended

May 04, 2022

Feb. 04, 2022

Feb. 28, 2022

Jun. 30, 2022

Mar. 31, 2022

Dec. 31, 2021

Jun. 30, 2021

Mar. 31, 2021

Dec. 31, 2020

Jun. 30, 2017

Loans and Leases Receivable Disclosure [Line Items]

Loss contingency accrual

$ 0

Lines of credit to customers

[1]

0

$ 511,157,000

Lease agreement term

7 years

Lease, letter of credit

$ 500,000

Lease, annual reduction of letter credit

100,000

Lessee, letter of credit, minimum balance

$ 100,000

Cash balance securing lease letter of credit

5,036,000

[1]

5,874,000

[1]

$ 3,862,000

$ 3,135,000

Elastic Product | Unfunded Credit Lines

Loans and Leases Receivable Disclosure [Line Items]

Lines of credit to customers

275,700,000

277,100,000

Today Card | Unfunded Credit Lines

Loans and Leases Receivable Disclosure [Line Items]

Lines of credit to customers

21,200,000

20,000,000

Unasserted Claim

Loans and Leases Receivable Disclosure [Line Items]

Loss contingency accrual

100,000

4,000,000

Litigation settlement, expense

$ 450,000

Litigation settlement, amount awarded to other party

3,400,000

Letter of Credit

Loans and Leases Receivable Disclosure [Line Items]

Cash balance securing lease letter of credit

100,000

200,000

Indemnification Agreement

Loans and Leases Receivable Disclosure [Line Items]

Loss contingency accrual

1,047,000

$ 1,700,000

1,700,000

$ 0

$ 0

4,424,000

Think Finance Litigation Trust

Loans and Leases Receivable Disclosure [Line Items]

Damages sought

$ 33,000,000

Loss contingency, damages sought, shares purchased

924,495

Think Finance Litigation Trust | Unasserted Claim

Loans and Leases Receivable Disclosure [Line Items]

Loss contingency accrual

17,100,000

$ 17,000,000

Loss contingency accrual, payments

$ 13,300,000

Loss contingency, accrual, noncurrent

$ 20,700,000

$ 34,100,000

[1]These balances include certain assets and liabilities of variable interest entities (“VIEs”) that can only be used to settle the liabilities of that respective VIE. All assets of the Company are pledged as security for the Company’s outstanding debt, including debt held by the VIEs. For further information regarding the assets and liabilities included in the Company's consolidated accounts, see Note 4—Variable Interest Entities.

COMMITMENTS, CONTINGENCIES AN_4

COMMITMENTS, CONTINGENCIES AND GUARANTEES - Amounts Accrued for Contingent Loss under Indemnification Agreement (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Loss Contingency Accrual [Roll Forward]
Ending balance	$ 0		$ 0
Indemnification Agreement
Loss Contingency Accrual [Roll Forward]
Beginning balance	1,700,000	$ 0	1,700,000	$ 4,424,000
Accruals	0	(510,000)	0	(510,000)
Payments	(653,000)	510,000	(653,000)	(3,914,000)
Ending balance	$ 1,047,000	$ 0	$ 1,047,000	$ 0

RELATED PARTIES - Expenses Rela

RELATED PARTIES - Expenses Related to Board of Directors (Details) - Affiliated Entity - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Related Party Transaction [Line Items]
Total board related expenses	$ 432	$ 242	$ 742	$ 443
Fees and travel expenses
Related Party Transaction [Line Items]
Total board related expenses	193	135	349	257
Stock compensation
Related Party Transaction [Line Items]
Total board related expenses	$ 239	$ 107	$ 393	$ 186

RELATED PARTIES - Narrative (De

RELATED PARTIES - Narrative (Details) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2017
Related Party Transaction [Line Items]
Accounts payable to related parties	$ 147,000			$ 147,000		$ 143,000
Due to related parties	151,000		$ 911,000	151,000	$ 911,000
Loss contingency accrual	0			0
Equity method investment loss	(368,000)		0	(712,000)	0
Investment in unconsolidated affiliate	5,121,000			5,121,000		0
Indemnification Agreement
Related Party Transaction [Line Items]
Loss contingency accrual	1,047,000	$ 1,700,000	0	1,047,000	0	1,700,000	$ 0	$ 4,424,000
Affiliated Entity
Related Party Transaction [Line Items]
Related party deposit						$ 500,000
Additional investment		4,000,000
Contributions of intellectual property intangible assets		$ 1,300,000
Equity method investment loss	$ (368,000)			(712,000)
Line of Credit | VPC Facility | Affiliated Entity
Related Party Transaction [Line Items]
Direct investments in VPC Facility									$ 800,000
Interest payments on loan			$ 20,000	$ 19,000	$ 39,000

RELATED PARTIES - Legal Expense

RELATED PARTIES - Legal Expenses (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Due to Related Parties [Roll Forward]
Net accrual related to the advance of legal fees	$ 151,000	$ 911,000	$ 151,000	$ 911,000
Indemnification Agreement | Director
Due to Related Parties [Roll Forward]
Beginning balance	152,000	0	135,000	0
Accruals (included in Professional services in the Condensed Consolidated Statements of Operations)	8,000	911,000	98,000	911,000
Payments	(9,000)	0	(82,000)	0
Net accrual related to the advance of legal fees	$ 151,000	$ 911,000	$ 151,000	$ 911,000

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($)	Aug. 08, 2022	Jun. 30, 2022
Subsequent Event [Line Items]
Long term debt		$ 517,500,000
Subsequent Event | Line of Credit | Term Notes | Term Note due March 31, 2024
Subsequent Event [Line Items]
Maximum borrowing amount	$ 15,000,000
Annual interest rate (as a percent)	16%
Long term debt	$ 15,000,000
Subsequent Event | Line of Credit | Term Notes | Term Note due March 31, 2024 | SOFR
Subsequent Event [Line Items]
Basis rate, floor (as a percent)	1.50%
Basis spread on variable rate (as a percent)	13.25%