The company reported late Tuesday a net loss of C$17 million, or C$1.03 a share, compared with a profit of C$28.4 million, or C$1.70 a share, a year earlier. On an adjusted basis, its loss was C$0.94 a share, wider than the C$0.37 loss analysts expected, according to FactSet.

Revenue declined to C$371.6 million from C$454.2 million, but was slightly above analysts’ C$368.5 million estimate. Goeasy said gross consumer loans receivable fell 10% year over year to C$4.88 billion and dropped 2% from the previous quarter, contributing to the revenue decline.

Credit losses remained elevated, though one measure improved sequentially. The net charge-off rate, which measures confirmed loan losses, was 15.2%, up 620 basis points from a year earlier but down 150 basis points from 16.7% in the second quarter. Bad debts rose to C$214.9 million from C$177.5 million.

Goeasy has been dealing with a prolonged operational crisis following errors in delinquency reporting and payment-in-transit accounting across its LendCare auto and powersports portfolio. The errors led to restatements, higher charge-offs and debt-covenant amendments earlier this year. The company’s total allowance for credit losses on gross consumer loans reached C$516.3 million at quarter-end, up from C$451.7 million a year earlier. Goeasy attributed the increase mainly to a revised assessment of collectability and a higher credit-loss outlook for merchant-originated automotive and powersports loans.