Standard Premium Finance Revenue Rises to $3,583,982 in Third Quarter
Key Facts
Standard Premium Finance Holdings reported revenue of $3,583,982 for the three months ended September 30, 2026, compared with $3,215,771 in the same period a year earlier. Net income rose to $401,695 from $276,024, according to the quarterly report filed with the U.S. Securities and Exchange Commission. Earnings growth outpaced revenue growth, with income before income taxes rising to $576,421 from $373,720. Chief Executive William Coppelman said the quarter demonstrated "the operating leverage embedded in our business model." The company also reported a lower cost of financing, while SPFX shares closed at $3 in the November 9 session, according to EL7 data.
Finance charges totaled $3,144,165 during the quarter, compared with $2,850,069 a year earlier, making them the largest source of revenue. The company also recorded $351,913 in late fees and $87,904 in origination fees. On the cost side, total expenses and costs rose to $3,007,561 from $2,842,051 in the comparable period. The quarter's total included a provision for credit losses of $465,366. These figures put revenue expansion alongside the cost of operating the portfolio and the credit risk for which the company set aside a provision.
The total portfolio of receivables tied to premium financing rose 19% year over year to $92.3 million at quarter-end, according to a company statement published via GlobeNewswire. The company attributed the increase in financing primarily to stepped-up marketing in existing and new states, particularly the addition of marketing representatives in the Midwest. The average annual interest rate on new contracts was about 16.8% during the first nine months of 2026, compared with about 18.0% in the same period of 2025. The comparison shows that portfolio growth coincided with a lower average interest rate on new contracts. The report also said premium financing covers policies with terms ranging from 3 to 11 months, and customers pay an average of 25% of the policy value upfront.
For the nine months ended September 30, revenue reached $10,361,948, compared with $9,227,729 in the corresponding period of 2025. Net income for the period was $1,185,412, compared with $869,940 a year earlier. The results place the quarter's performance within a broader growth trajectory for the year, with revenue and earnings higher year over year in both periods. On the financing side, principal outstanding under the line of credit was $61,764,846 on September 30, and the company had an additional $3,789,972 available to borrow. The company renewed the facility in September 2025, raising the commitment to $75,000,000 and extending its maturity to September 25, 2028.