Key Highlights

  • Credit card and private label receivables increased to USD 7,128.4 million from USD 6,600.1 million a year earlier.
  • Total active accounts increased by 847 thousand as of September 30, 2026 compared with September 30, 2025.
  • Mercury contributed USD 205.3 million of growth in total Operating Revenue and other income for the third quarter.
  • Nine-month growth in operating revenue and other income from Mercury was USD 669.6 million versus the same period of 2025.

Atlanticus Holdings Corporation (NASDAQ:ATLC) reported third quarter 2026 results in which receivables from private label Credit and general purpose credit card products rose to USD 7,128.4 million as of September 30, 2026, from USD 6,600.1 million as of September 30, 2025. EPS was USD 2.84.

The Quarterly Report states that total operating revenue and other income grew for both general purpose credit card and private label credit receivables for the three and nine months ended September 30, 2026.

Revenue Drivers

Total operating revenue and other income consists of interest income, finance charges and late fees on consumer loans, other revenues associated with credit products such as annual and merchant fees, and interchange and servicing income on Loan portfolios and other customer-related fees.

The company attributed the increases primarily to continued growth in new credit card and private label customers served, with total active accounts rising by 847 thousand year over year. This growth led to increases in substantially all finance and fee categories.

Mercury, described as an established top 25 credit card program added to the suite of programs managed on behalf of bank partners, contributed growth of USD 205.3 million and USD 669.6 million in total operating revenue and other income for the three and nine months ended September 30, 2026, respectively.

Portfolio Mix and Outlook Commentary

During 2025, private label credit receivables grew at higher rates than general purpose credit card receivables. Management states that growth in general purpose credit card receivables continues through 2026 and outpaces private label growth as Marketing efforts expand.

The company currently anticipates a modest increase in its private label credit receivable balance in 2026 as receivables acquisitions, for which it has limited loss exposure under agreements with retail partners, slow. It states that these changes increase Yield for the portfolio and add to total operating revenue and other income in 2026 and beyond.

The filing adds that interchange revenues, which are largely affected by receivables growth, also increased for the three and nine months ended September 30, 2026.

Segment Reporting Note

The quarterly report states that period-over-period results primarily relate to growth in private label credit and general purpose credit card products, and that figures are presented in thousands. Within its Credit as a Service segment, the company also reports servicing income and gains or losses associated with notes receivable and Equity investments previously made in consumer technology platforms.

Disclosed items include the receivables balance, the change in active accounts, the Mercury contribution and the relative growth rates of the two credit product categories. Reported detail: Mercury contributed USD 205.3 million of growth in total operating revenue and other income for the third quarter. Nine-month growth in operating revenue and other income from Mercury was USD 669.6 million versus the same period of 2025.