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Form 8-K

sec.gov

8-K — Jefferson Capital, Inc. / DE

Accession: 0001104659-26-095891

Filed: 2026-08-13

Period: 2026-08-13

CIK: 0002046042

SIC: 6153 (SHORT-TERM BUSINESS CREDIT INSTITUTIONS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — jcap-20260813x8k.htm (Primary)

EX-99.1 (jcap-20260813xex99d1.htm)

GRAPHIC (jcap-20260813xex99d1001.jpg)

GRAPHIC (jcap-20260813xex99d1002.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: jcap-20260813x8k.htm · Sequence: 1

Jefferson Capital, Inc. / DE_August 13, 2026

DEMN0002046042falseJefferson Capital, Inc. / DE00020460422026-08-132026-08-13

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

August 13, 2026

Date of Report

(Date of earliest event reported)

Jefferson Capital, Inc.

(Exact name of registrant as specified in its charter)

DELAWARE

(State or other jurisdiction of

incorporation)

001-42718

(Commission File Number)

33-1923926

(I.R.S. Employer

Identification No.)

600 SOUTH HIGHWAY 169, SUITE 1575,

MINNEAPOLIS, MINNESOTA 55426

(Address of principal executive offices)

55426

(Zip Code)

Registrant’s telephone number, including area code: (320) 229-8505

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class:

Trading Symbol

​ ​ ​

Name of each exchange on which registered:

Common stock, $0.0001 par value per share

JCAP

Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02           Results of Operations and Financial Condition.

On August 13, 2026, Jefferson Capital, Inc. (the “Company”) announced its financial results for the quarter ended June 30, 2026. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information contained in Item 2.02 of this Current Report on Form 8-K (including Exhibit 99.1 attached hereto) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly provided by specific reference in such a filing.

Item 9.01           Financial Statements and Exhibits.

(d)          Exhibits

The following Exhibit 99.1 shall be deemed to be furnished, and not filed:

Exhibit No.

Description

99.1

Press release issued on August 13, 2026

104

Cover page Interactive Data File (embedded within the Inline XBRL document)

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Jefferson Capital, Inc.

Date: August 13, 2026

By: /s/ Christo Realov

Name: Christo Realov

Title: Chief Financial Officer

3

EX-99.1

EX-99.1

Filename: jcap-20260813xex99d1.htm · Sequence: 2

Exhibit 99.1

Jefferson Capital Reports Second Quarter 2026 Results

Collections Grow 18% to $300.9 Million and Deployments grow 21% to $152.2 Million

Estimated Remaining Collections (“ERC”) up 18% to $3.4 Billion

Pre-tax Income of $53.3 Million with Net Income of $41.3 Million and EPS of $0.67

Adjusted Pre-tax Income of $59.3 Million with Adjusted Net Income of $47.3 Million and Adjusted EPS of $0.77

Board of Directors Declares Quarterly Cash Dividend of $0.24 per Share

MINNEAPOLIS, August 13, 2026 /GLOBE NEWSWIRE/ -- Jefferson Capital, Inc. (“Jefferson Capital”), a leading analytically driven purchaser and manager of charged-off, insolvency and active consumer accounts, today announced its second quarter 2026 financial results.

“Jefferson Capital delivered excellent performance for the quarter with consistent momentum across all key aspects of the business,” said David Burton, Chairman and Chief Executive Officer. “We continue to execute well on our differentiated strategy and remain well positioned to drive shareholder value in the near and long term. ”

“The investment environment remains favorable.  We are particularly focused on auto finance where record high balances and credit quality headwinds continue to drive growing portfolio supply. We are one of the very few industry participants which can offer solutions across the spectrum of performing, charged-off and insolvency auto finance portfolios for both secured and unsecured accounts.”

Second Quarter 2026 Highlights (vs. Second Quarter 2025)

● Collections grew 18% to $300.9 million

● Deployments up 21% to $152.2 million

● ERC rose 18% to $3.4 billion

● Strong revenue growth of 16% to a record $177.5 million

● Sector-leading Cash Efficiency Ratio of 72.2%

● Leverage ratio* improved to 1.71x as compared to 1.76x

● Pre-tax Income of $53.3 million with Net Income of $41.3 million and EPS of $0.67

● Adjusted Pre-tax Income* of $59.3 million with Adjusted Net Income* of $47.3 million and Adjusted EPS of $0.77

Collections

The following table summarizes total collections by geographic area:

Three Months Ended

June 30,

Increase

%

(in Millions)

​ ​ ​

2026

​ ​ ​

2025

​ ​ ​

(Decrease)

​ ​ ​

Change

United States

$

235.4

$

202.4

$

33.0

16.3

%

Canada

35.3

30.8

4.5

14.6

%

United Kingdom

12.2

10.7

1.5

14.0

%

Latin America

18.0

11.8

6.2

52.5

%

Total Collections

$

300.9

$

255.7

$

45.2

17.7

%

● Collections from purchased receivables increased 17.7% or $45.2 million to $300.9 million during the second quarter of 2026 versus $255.7 million during the same quarter in 2025

1

● Collections in the United States included $41.0 million from the Bluestem portfolio purchase which closed in the fourth quarter of 2025

Estimated Remaining Collections

The following table summarizes total ERC by geographic area:

June 30,

Increase

%

(in Millions)

2026

​ ​ ​

2025

​ ​ ​

(Decrease)

​ ​ ​

Change

United States

$

2,422.5

$

2,101.7

$

320.8

15.3

%

Canada

420.5

348.5

72.0

20.7

%

United Kingdom

197.2

158.4

38.8

24.5

%

Latin America

324.0

244.3

79.7

32.6

%

Total

$

3,364.2

$

2,852.9

$

511.3

17.9

%

● ERC in the United States included $218.2 million from the Bluestem portfolio purchase which closed in the fourth quarter 2025

Deployments

The following table summarizes the total deployments by geographic area:

Three Months Ended

June 30,

Increase

%

(in Millions)

​ ​ ​

2026

​ ​ ​

2025

​ ​ ​

(Decrease)

​ ​ ​

Change

United States

$

93.1

$

80.6

$

12.5

15.5

%

Canada

34.2

26.6

7.6

28.6

%

United Kingdom

6.9

4.7

2.2

46.8

%

Latin America

18.0

13.4

4.6

34.3

%

Total Purchases

$

152.2

$

125.3

$

26.9

21.5

%

● The Company invested $152.2 million during the quarter to acquire receivable portfolios, up 21.5% compared to $125.3 million in the second quarter 2025

● As of June 30, 2026, the Company had $480.7 million in committed forward flows

Revenues

● Total revenues increased $24.8 million for the quarter, or 16.2%, to $177.5 million compared to $152.7 million for the second quarter 2025. The growth was primarily the result of strong deployments in prior periods

Operating Expenses

● Total operating expenses increased $29.9 million, or 45.6% to $95.4 million compared to $65.5 million for the second quarter 2025.  The increase was primarily due to a $21.3 million rise in servicing expenses driven by increased collections, including $9.3 million in higher court costs from increased legal channel volume, and $3.9 million related to the Bluestem portfolio purchase as well as $8.3 million in non-cash stock-based compensation expense

● For the second quarter 2026, the Company recognized portfolio revenue of $11.0 million and net operating income of $7.1 million related to the Bluestem portfolio purchase

2

Leverage Ratio, Liquidity and Capital Resources

● Leverage ratio* improved to 1.71x at June 30, 2026 compared to 1.76x at June 30, 2025 as a result of strong growth in portfolio cashflow

● On April 22, 2026 Jefferson Capital completed an upsize of its Revolving Credit Facility (“RCF”) increasing aggregate commitments to $1.15 billion.

● At June 30, 2026, the Company had $226 million drawn under the RCF

● On August 13, 2026, the Company deposited $300 million with the bond trustee for the repayment of the 2026 notes expected to be repaid on August 17, 2026

Dividend

The Board of Directors declared a quarterly cash dividend of $0.24 per share on its outstanding common stock, payable on September 3, 2026, to shareholders of record as of the close of business on August 24, 2026.

*Leverage Ratio, Adjusted Pre-Tax Income, Adjusted Net Income and Adjusted EPS are non-GAAP financial measures. For a reconciliation of historical Leverage, Adjusted Pre-Tax Income and Adjusted Net Income, to the most directly comparable U.S. GAAP financial measures, please refer to the “Non-GAAP Financial Measures” section of this press-release.

Webcast

A webcast to discuss the Company’s second quarter 2026 financial results is scheduled for today, August 13, 2026 at 5:00 p.m. ET. The live webcast and archived replay can be accessed in the investor relations section of the Company's website at https://investors.jcap.com/news-events/events.

Use of Non-GAAP Financial Measures

This press release contains references to non-GAAP financial measures, including Leverage, Adjusted Pre-Tax Income, Adjusted Net Income, Cash Efficiency Ratio, Adjusted Operating Expenses and Adjusted EPS, which are financial measures that are not prepared in conformity with United States generally accepted accounting principles (U.S. GAAP). These non-GAAP measures are used by management as a supplemental measure, have certain limitations, and should not be construed as alternatives to financial measures determined in accordance with GAAP. Our management believes Leverage, Adjusted Pre-Tax Income, Adjusted Net Income and Adjusted EPS help us provide enhanced period-to-period comparability of operations and financial performance and are useful to investors as other companies in our industry report similar financial measures. The non-GAAP measures as defined by us may not be comparable to similar non-GAAP financial measures presented by other companies, which could limit such measures’ usefulness as comparative measures. Our presentation of such measures, which may include adjustments to exclude unusual or non-recurring items, should not be construed as an inference that our future results will be unaffected by other unusual or non-recurring items. Detailed reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the financial tables following this release.

About Jefferson Capital, Inc.

Founded in 2002, Jefferson Capital is an analytically driven purchaser and manager of charged-off, insolvency and active consumer accounts with operations in the United States, Canada, the United Kingdom and Latin America. It purchases and services both secured and unsecured assets, and its growing client base includes Fortune 500 creditors, banks, fintech origination platforms, telecommunications providers, credit card issuers and auto finance companies. Jefferson Capital is headquartered in Minneapolis, Minnesota with additional offices and operations located in Sartell, Minnesota, Denver, Colorado and San Antonio, Texas (United States); Basingstoke, England; London, England and Paisley, Scotland (United Kingdom); London, Ontario and Toronto, Ontario (Canada); as well as Bogota (Colombia).

Contacts:

Investor Relations

IR@jcap.com

Media Relations

Doug.Donsky@icrinc.com

3

Disclosure Regarding Forward Looking Statements

This press release may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and in the U.S. Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements concerning our anticipated financial performance, execution of our business strategies and strength of our business model, the favorability of the investment environment, [use of our share repurchase program,] and our ability to continue paying quarterly cash dividends. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: a deterioration in the economic or inflationary environment in the United States, Canada, the United Kingdom or Latin America, including the interest rate environment; our ability to replace our portfolios of nonperforming loans with additional portfolios sufficient to operate efficiently and profitably; our ability to collect sufficient amounts on our nonperforming loans to fund our operations; the possibility that third parties we rely on to conduct collection and other activities fail to perform their services; the possibility that we could recognize significant decreases in our estimate of future recoveries on nonperforming loans; changes in, or interpretations of, federal, state, local, or international laws, including bankruptcy and collection laws, or changes in the administrative practices of various bankruptcy courts, which could negatively impact our business or our ability to collect on nonperforming loans; goodwill impairment charges that could negatively impact our net income and stockholders’ equity; our ability to comply with existing and new regulations of the collection industry, the failure of which could result in penalties, fines, litigation, damage to our reputation, or the suspension or termination of or required modification to our ability to conduct our business; adverse outcomes in pending or future litigation or administrative proceedings; the possibility that class action suits and other litigation could divert management’s attention and increase our expenses; investigations, reviews, or enforcement actions by governmental authorities, including the Consumer Financial Protection Bureau, which could result in changes to our business practices, negatively impact our deployment volume, make collection of account balances more difficult, or expose us to the risk of fines, penalties, restitution payments, and litigation; the possibility that compliance with complex and evolving international and United States laws and regulations that apply to our international operations could increase our cost of doing business in international jurisdictions; our ability to comply with data privacy regulations such as the General Data Protection Regulation; our ability to retain, expand, renegotiate or replace our credit facility and our ability to comply with the covenants under our financing arrangements; our ability to refinance our indebtedness; our ability to service our outstanding indebtedness; changes in interest or exchange rates, which could reduce our net income, and the possibility that future hedging strategies may not be successful; and the possibility that we could incur business or technology disruptions or cybersecurity incidents. These and other important factors discussed under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC, and our other filings with the SEC, could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

FINANCIAL TABLES FOLLOW

4

Jefferson Capital, Inc.

Combined and Condensed Consolidated Balance Sheets

(Unaudited, Amounts in Thousands)

As of June 30,

As of December 31,

​ ​ ​

2026

​ ​ ​

2025

​ ​ ​

Assets

Cash and cash equivalents

$

20,406

$

23,231

Restricted cash

5,641

24,320

Accounts receivable

16,901

12,245

Other assets

14,281

16,273

Investments in receivables, net

1,946,819

1,928,742

Credit card receivables (net of allowance for

15,042

16,312

credit losses of $1,598 and $1,784)

Property, plant and equipment, net

1,711

1,695

Other intangible assets, net

5,246

6,541

Goodwill

57,761

58,014

Total Assets

$

2,083,808

$

2,087,373

Liabilities

Accounts payable and accrued expenses

$

73,285

$

95,208

Other liabilities

3,777

4,179

Current tax liabilities

1,074

855

Deferred tax liabilities

123,688

101,957

Notes payable, net

1,405,794

1,409,039

Total Liabilities

$

1,607,618

$

1,611,238

Stockholders' Equity

Common Stock par value $0.0001 per share; 330,000,000 shares authorized as of June 30, 2026 and December 31, 2025 and 57,435,586 and 58,298,923 shares issued and outstanding as of June 30, 2026 and December 31, 2025

$

6

$

6

Additional paid-in capital

(32,692)

(49,549)

Retained earnings

513,057

522,632

Accumulated other comprehensive income (loss)

(4,181)

3,046

Total stockholders' equity

$

476,190

$

476,135

Total Liabilities and Stockholders' Equity

$

2,083,808

$

2,087,373

5

Jefferson Capital, Inc.

Combined and Condensed Consolidated Statements of Operations and Comprehensive Income

(Unaudited in Thousands, except Per Share amounts)

For the Three Months Ended June 30,

For the Six Months Ended June 30,

​ ​ ​

2026

​ ​ ​

2025

​ ​ ​

2026

​ ​ ​

2025

Revenues

Total portfolio income

$

156,253

$

138,877

$

313,859

$

277,571

Changes in recoveries

9,010

1,556

16,067

5,176

Total portfolio revenue

165,263

140,433

329,926

282,747

Credit card revenue

1,623

1,798

3,358

3,696

Servicing revenue

10,654

10,477

20,695

21,208

Total Revenues

177,540

152,708

353,979

307,651

Provision for credit losses

757

560

1,380

1,101

Operating Expenses

Salaries and benefits

21,880

6,254

44,255

20,276

Servicing expenses

64,822

43,546

130,400

86,339

Depreciation and amortization

844

1,250

1,716

2,854

Professional fees

3,053

9,444

5,334

11,611

Other selling, general and administrative

4,751

5,013

9,275

9,562

Total Operating Expenses

95,350

65,507

190,980

130,642

Net Operating Income

81,433

86,641

161,619

175,908

Other Income (Expense)

Interest expense

(30,370)

(25,824)

(60,948)

(50,717)

Foreign exchange and other income (expense)

2,270

1,089

3,718

3,620

Total other expense

(28,100)

(24,735)

(57,230)

(47,097)

Income Before Income Taxes

53,333

61,906

104,389

128,811

Provision for income taxes

(12,037)

(14,255)

(25,460)

(16,935)

Net Income

41,296

47,651

78,929

111,876

Foreign currency translation gain / (loss)

(1,525)

14,432

(7,226)

18,316

Comprehensive Income

$

39,771

$

62,083

$

71,703

$

130,192

Earnings per share

Basic

$

0.67

$

18.61

$

1.28

$

86.88

Diluted

0.67

16.76

1.28

78.26

Weighted average common shares outstanding

Basic

55,515

2,561

55,552

1,288

Diluted

55,519

2,843

55,554

1,430

6

Jefferson Capital, Inc.

Combined and Condensed Consolidated Statements of Cash Flows

(Unaudited, in Thousands)

For the Six Months Ended June 30,

​ ​ ​

2026

​ ​ ​

2025

​ ​ ​

Cash flows from operating activities

Net income

$

78,929

$

111,876

Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:

Depreciation and amortization

1,716

2,854

Amortization of debt issuance costs

3,337

2,494

Provision for credit losses

1,380

1,101

Change in Recoveries

(16,067)

Stock-based compensation

16,857

Deferred income tax

21,893

12,386

Changes in assets and liabilities:

Other assets

2,032

(2,812)

Accounts receivable

(4,745)

(3,175)

Accounts payable and accrued expenses

(22,438)

5,841

Net cash provided by operating activities

82,894

130,565

Cash flows from investing activities

Purchases of receivables, net

(301,947)

(300,501)

Purchases of credit card receivables

(11,890)

(13,138)

Collections applied to investments in receivables, net

296,889

233,761

Collections applied to credit card receivables

11,501

13,479

Purchases of property and equipment, net

(531)

(539)

Net cash used in investing activities

(5,978)

(66,938)

Cash flow from financing activities

Proceeds from notes payable

412,452

681,790

Payments on notes payable

(417,798)

(694,872)

Payment of debt issuance costs

(935)

(7,605)

Dividends paid to stockholders

(29,592)

(32,422)

Proceeds of common stock

10,000

Repurchase of common stock

(58,912)

Net used in financing activities

(94,785)

(43,109)

Exchange rate effects on cash balances held in foreign currencies

(3,635)

(3,261)

Net decrease in cash and cash equivalents and restricted cash

(21,504)

17,257

Cash and cash equivalents and restricted cash, beginning of period

47,551

38,243

Cash and cash equivalents and restricted cash, end of period

$

26,047

$

55,500

7

Jefferson Capital, Inc.

Supplemental Financial Information

Reconciliation of Non-GAAP Metrics

Cash Efficiency Ratio

​ ​ ​

Three Months Ended

June 30,

($in Millions)

​ ​ ​

2026

​ ​ ​

2025

Collections

$

300.9

$

255.7

Credit card revenue

1.6

1.8

Servicing revenue

10.7

10.5

Cash Receipts (A)

$

313.2

$

268.0

Operating Expenses

$

95.4

$

65.5

Stock compensation

(8.3)

8.3

Merger and acquisition and initial public offering related expenses

(9.1)

Adjusted Operating Expenses (B)

$

87.1

$

64.7

Cash Efficiency Ratio (A-B) / A

72.2

%

75.9

%

Adjusted Pre-tax Income

​ ​ ​

Three Months Ended

June 30,

($in Millions)

​ ​ ​

2026

​ ​ ​

2025

Pre-tax Income

$

53.3

$

61.9

Foreign exchange and other income (expense)

(2.3)

(1.1)

Stock Compensation

8.3

(8.3)

Merger and acquisition and initial public offering expenses

9.1

Adjusted Pre-tax Income

$

59.3

$

61.6

8

Jefferson Capital, Inc.

Supplemental Financial Information

Reconciliation of Non-GAAP Metrics (Continued)

Adjusted Net Income and Adjusted EPS

​ ​ ​

Three Months Ended

Increase

%

June 30,

(Decrease)

Change

(in Millions, Except Adjusted EPS amounts)

​ ​ ​

2026

​ ​ ​

2025

Net Income

$

41.3

$

47.7

$

(6.4)

(13.4)

%

Foreign exchange and other income (expense)

(2.3)

(1.1)

(1.2)

108.4

%

Stock compensation

8.3

(8.3)

16.6

(200.0)

%

Merger and acquisition and initial public offering expenses

9.1

(9.1)

(100.0)

%

Adjusted Net Income

$

47.3

$

47.4

$

(0.1)

(0.2)

%

Weighted average diluted common shares outstanding (in millions)

57.4

Expected vesting of non-vested restricted stock

4.2

Adjusted weighted average diluted common shares outstanding

61.6

Adjusted EPS

$

0.77

Leverage Ratio

​ ​ ​

Trailing Twelve Months Ended

June 30,

($in Millions)

​ ​ ​

2026

2025

Net cash provided by operating activities

$

221.2

$

295.1

Changes in prepaid expenses

(3.8)

11.1

Changes in accounts payable and accrued expenses

(28.2)

(118.7)

Changes in recoveries

16.1

Provision for credit losses

(2.6)

(2.8)

Foreign exchange and other income (expense)

(7.8)

(0.8)

Cash interest paid

104.9

87.8

Provision for income taxes

39.0

22.0

Total portfolio revenue

(613.6)

(492.6)

Gross collections

1,092.9

836.0

Stock compensation

(5.4)

Merger and acquisition and initial public offering expenses

3.5

22.3

Adjusted Cash EBITDA (A)

$

821.6

$

654.0

June 30,

2026

2025

Borrowings, as reported

$

1,405.8

$

1,181.5

Unamortized issuance costs

20.1

18.5

Unrestricted cash

(20.4)

(51.7)

Net Debt (B)

$

1,405.5

$

1,148.3

Leverage Ratio (B / A)

1.71

x

1.76

x

9

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v3.26.1

Document and Entity Information

Aug. 13, 2026

Document and Entity Information [Abstract]

Document Type

8-K

Document Period End Date

Aug. 13, 2026

Entity Registrant Name

Jefferson Capital, Inc. / DE

Entity Incorporation, State or Country Code

DE

Entity File Number

001-42718

Entity Tax Identification Number

33-1923926

Entity Address, Address Line One

600 SOUTH HIGHWAY 169

Entity Address, Adress Line Two

SUITE 1575

Entity Address, City or Town

MINNEAPOLIS

Entity Address State Or Province

MN

Entity Address, Postal Zip Code

55426

City Area Code

320

Local Phone Number

229-8505

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Title of 12(b) Security

Common stock, $0.0001 par value per share

Trading Symbol

JCAP

Security Exchange Name

NASDAQ

Entity Emerging Growth Company

true

Entity Ex Transition Period

false

Entity Central Index Key

0002046042

Amendment Flag

false

X

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

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- Definition

Area code of city

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- Definition

Cover page.

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For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

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- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

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Balance Type:

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Period Type:

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- Definition

Address Line 1 such as Attn, Building Name, Street Name

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- Definition

Address Line 2 such as Street or Suite number

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Name of the City or Town

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Code for the postal or zip code

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Name of the state or province.

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- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Indicate if registrant meets the emerging growth company criteria.

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-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Indicate if an emerging growth company has elected not to use the extended transition period for complying with any new or revised financial accounting standards.

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-Publisher SEC

-Name Securities Act

-Number 7A

-Section B

-Subsection 2

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- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

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- Definition

Two-character EDGAR code representing the state or country of incorporation.

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- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

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-Publisher SEC

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Local phone number for entity.

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

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-Subsection 4c

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Subsection 2b

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Title of a 12(b) registered security.

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-Section 12

-Subsection b

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Name of the Exchange on which a security is registered.

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-Number 240

-Section 12

-Subsection d1-1

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

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-Section 14a

-Subsection 12

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Trading symbol of an instrument as listed on an exchange.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

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