RM expands to Florida, launches bank partnership; Q2 net income falls 20% on higher credit costs

Filed July 31, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 1, 2025 · ~2 min read

Key Changes

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  Q2 net income fell 20% to $8.2M from $10.1M prior year, driven by $8.4M higher provision for credit losses and $2.6M higher interest expense, partially offset by revenue growth.

  MD&A: Net Income verify on EDGAR →
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  Provision for credit losses rose 14% to $69.0M in Q2, driven by $7.6M higher net credit losses and a $0.8M allowance build. Delinquency rate increased to 7.0% from 6.6%, with slower portfolio growth contributing ~20bp.

  MD&A: Provision & Delinquency verify on EDGAR →
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  Launched bank partnership program with Column in March 2026, earning marketing and processing fees at origination (recognized immediately in other income) rather than deferring over loan life. Q2 other income rose 29% to $6.8M, driven by $1.7M in partnership fees.

  MD&A: Bank Partnership verify on EDGAR →