Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ___________ Commission file number 001-10960 FIRSTCASH HOLDINGS, INC. (Exact name of registrant as specified in its charter) (State or other j ...

FirstCash Holdings (FCFS) reported $852.13 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 13.7%. EPS of $2.04 for the same period compares to $1.65 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $859.23 million, representing a surprise of -0.83%. The company delivered an EPS surprise of +6.81%, with the consensus EPS estimate being $1.91.While investors scrutinize revenue and earnings changes year-over-year and how they compare ...

FORT WORTH, Texas, Feb. 01, 2024 (GLOBE NEWSWIRE) -- FirstCash Holdings, Inc. ("FirstCash" or the "Company") (NASDAQ:FCFS), the leading international operator of almost 3,000 retail pawn stores and a leading provider of retail point-of-sale ("POS") payment solutions through American First Finance ("AFF"), today announced operating results for the fourth quarter and full-year ended December 31, 2023. The Company also announced that the Board of Directors declared a quarterly cash dividend of $0.35 per share, ...

Shares of FirstCash Holdings (FCFS) have been strong performers lately, with the stock up 9.9% over the past month. The stock hit a new 52-week high of $117.67 in the previous session. FirstCash Holdings has gained 8.5% since the start of the year compared to the 24.6% move for the Zacks Business Services sector and the 27.9% return for the Zacks Financial Transaction Services industry.What's Driving the Outperformance?The stock has an impressive record of positive earnings surprises, as it hasn't missed o ...

Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. However, it isn't easy to find a great growth stock.That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss.However, the task of finding cutting-edge growth stocks is made easy with the help of the Z ...

[Part I. Financial Information](index=5&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This section covers the company's unaudited financial statements, management's analysis, market risks, and internal controls [Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited consolidated financial statements and detailed notes for FirstCash Holdings, Inc. for the specified periods [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) As of September 30, 2023, total assets increased to $4.17 billion from $3.90 billion at year-end 2022, primarily driven by growth in pawn loans, goodwill from acquisitions, and leased merchandise, while total liabilities also rose to $2.26 billion from $2.03 billion due to increased borrowings Consolidated Balance Sheet Highlights (in thousands) | Account | Sep 30, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | **Total Current Assets** | $1,234,640 | $1,130,662 | | Pawn loans | $483,785 | $390,617 | | Goodwill | $1,713,354 | $1,581,381 | | **Total Assets** | **$4,174,563** | **$3,904,867** | | **Total Current Liabilities** | $317,370 | $295,529 | | Revolving unsecured credit facilities | $560,229 | $339,000 | | Senior unsecured notes | $1,037,151 | $1,035,698 | | **Total Liabilities** | **$2,256,979** | **$2,025,101** | | **Total Stockholders' Equity** | **$1,917,584** | **$1,879,766** | [Consolidated Statements of Income](index=6&type=section&id=Consolidated%20Statements%20of%20Income) For Q3 2023, total revenue grew 17% year-over-year to $786.3 million, but net income slightly decreased to $57.1 million, resulting in a flat diluted EPS of $1.26, while for the nine-month period, revenue grew 16% and net income declined 14% Q3 2023 vs Q3 2022 Income Statement (in thousands, except EPS) | Metric | Q3 2023 | Q3 2022 | Change | | :--- | :--- | :--- | :--- | | Total Revenue | $786,301 | $672,143 | +17.0% | | Net Revenue | $388,647 | $323,292 | +20.2% | | Income Before Income Taxes | $77,624 | $75,395 | +3.0% | | Net Income | $57,144 | $59,316 | -3.7% | | Diluted EPS | $1.26 | $1.26 | 0.0% | Nine Months 2023 vs 2022 Income Statement (in thousands, except EPS) | Metric | 9M 2023 | 9M 2022 | Change | | :--- | :--- | :--- | :--- | | Total Revenue | $2,299,662 | $1,979,598 | +16.2% | | Net Revenue | $1,089,590 | $915,451 | +19.0% | | Income Before Income Taxes | $201,361 | $222,027 | -9.3% | | Net Income | $149,712 | $173,429 | -13.7% | | Diluted EPS | $3.27 | $3.64 | -10.2% | [Consolidated Statements of Cash Flows](index=10&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended September 30, 2023, net cash from operating activities slightly decreased to $317.0 million, while net cash used in investing activities significantly increased to $409.2 million due to acquisitions, and net cash provided by financing activities reversed to $58.7 million from a prior-year use Cash Flow Summary for Nine Months Ended Sep 30 (in thousands) | Cash Flow Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $317,037 | $325,798 | | Net cash used in investing activities | ($409,173) | ($238,732) | | Net cash provided by (used in) financing activities | $58,707 | ($107,575) | | **Change in cash and cash equivalents** | **($30,783)** | **($19,426)** | [Notes to Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes provide detailed disclosures on accounting policies, acquisitions, leases, fair value measurements, debt, and segment information, including the acquisition of 83 U.S. pawn stores, $1.6 billion in long-term debt, an ongoing CFPB lawsuit, and gold forward sales contracts - During the first nine months of 2023, the Company acquired **83 pawn stores** in the U.S. for an aggregate purchase price of **$168.1 million**[35](index=35&type=chunk) - As of September 30, 2023, total long-term debt was **$1.6 billion**, consisting of **$560 million** from revolving credit facilities and **$1.04 billion** from senior unsecured notes[54](index=54&type=chunk) - The company is involved in a civil action from the CFPB alleging violations of the Military Lending Act (MLA), with the case currently stayed pending a Supreme Court decision on the CFPB's funding structure[63](index=63&type=chunk) - As of September 30, 2023, the Company had contractual commitments to deliver **57,600 gold ounces** through June 2025 at a weighted-average price of **$2,024 per ounce**[64](index=64&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the performance of its U.S. Pawn, Latin America Pawn, and Retail POS Payment Solutions (AFF) segments, highlighting growth drivers, strategic acquisitions, and financial position - The company operates through three reportable segments: U.S. pawn, Latin America pawn, and Retail POS payment solutions (AFF)[73](index=73&type=chunk) - As of September 30, 2023, the company operated **2,988 pawn stores** (1,181 in the U.S. and 1,807 in Latin America) and its AFF business had a network of approximately **10,800 active retail merchant partners**[75](index=75&type=chunk)[77](index=77&type=chunk) [Results of Operations - U.S. Pawn Segment](index=30&type=section&id=Results%20of%20Operations%20-%20U.S.%20Pawn%20Segment) The U.S. Pawn segment delivered strong Q3 2023 results, with pre-tax operating income increasing 20% year-over-year to $84.4 million, driven by an 18% rise in pawn loan fees and a 22% increase in pawn loan balances, alongside 4% growth in retail merchandise sales with expanding gross margins U.S. Pawn Segment Performance - Q3 2023 vs Q3 2022 (in thousands) | Metric | Q3 2023 | Q3 2022 | Change | | :--- | :--- | :--- | :--- | | Total Revenue | $334,931 | $305,032 | +10% | | Pawn loan fees | $114,022 | $96,222 | +18% | | Net Revenue | $204,964 | $178,795 | +15% | | Segment pre-tax operating income | $84,402 | $70,481 | +20% | - U.S. pawn loan receivables increased **22%** in total and **11%** on a same-store basis as of September 30, 2023, compared to the prior year, driven by inflationary pressures and tightened consumer credit[84](index=84&type=chunk) [Results of Operations - Latin America Pawn Segment](index=33&type=section&id=Results%20of%20Operations%20-%20Latin%20America%20Pawn%20Segment) The Latin America segment's Q3 2023 pre-tax operating income rose 12% year-over-year to $41.0 million, significantly influenced by a 15% favorable currency impact from the Mexican peso, despite a 3% constant currency decrease due to rising operating expenses Latin America Pawn Segment Performance - Q3 2023 vs Q3 2022 (in thousands) | Metric | Q3 2023 (Reported) | Q3 2023 (Constant Currency) | Q3 2022 (Reported) | YoY Change (Constant Currency) | | :--- | :--- | :--- | :--- | :--- | | Total Revenue | $202,047 | $173,323 | $162,722 | +7% | | Net Revenue | $110,123 | $94,964 | $89,157 | +7% | | Segment pre-tax operating income | $40,980 | $35,649 | $36,612 | -3% | - The translated value of Latin American earning assets as of Sep 30, 2023 benefited from a **13% favorable change** in the end-of-period Mexican peso vs the U.S. dollar[89](index=89&type=chunk) [Results of Operations - Retail POS Payment Solutions Segment (AFF)](index=36&type=section&id=Results%20of%20Operations%20-%20Retail%20POS%20Payment%20Solutions%20Segment%20(AFF)) The AFF segment's Q3 2023 pre-tax operating income surged 96% year-over-year to $39.4 million, or 41% on an adjusted basis, driven by a 14% increase in total gross transaction volume to $250.7 million AFF Segment Performance - Q3 2023 vs Q3 2022 (in thousands) | Metric | Q3 2023 | Q3 2022 (Adjusted Non-GAAP) | Change (Non-GAAP) | | :--- | :--- | :--- | :--- | | Total Revenue | $250,795 | $214,046 | +17% | | Net Revenue | $73,861 | $63,876 | +16% | | Segment pre-tax operating income | $39,449 | $28,041 | +41% | - Total gross transaction volume for Q3 2023 was **$250.7 million**, an increase of **14%** from the prior year[100](index=100&type=chunk) [Liquidity and Capital Resources](index=51&type=section&id=LIQUIDITY%20AND%20CAPITAL%20RESOURCES) As of September 30, 2023, the company maintained liquidity through $86.5 million in cash and $60.9 million available on its credit facilities, with capital allocation priorities focused on expanding operations and returning capital to shareholders through acquisitions and share repurchases - Primary capital requirements are expanding pawn operations, growing the retail POS business, and returning capital to shareholders via dividends and stock repurchases[149](index=149&type=chunk) - In the first nine months of 2023, the company repurchased **1,248,000 shares** for **$114.4 million**[156](index=156&type=chunk) - In July 2023, the Board of Directors authorized a new **$200.0 million** share repurchase program, which was fully available as of the report date[157](index=157&type=chunk) - In October 2023, the company increased its domestic credit facility commitment by **$50.0 million** to **$640.0 million**[159](index=159&type=chunk) [Non-GAAP Financial Information](index=55&type=section&id=NON-GAAP%20FINANCIAL%20INFORMATION) The company provides non-GAAP measures to clarify core operating performance by excluding specific items, reporting adjusted diluted EPS of $1.56 for Q3 2023 and a trailing twelve-month adjusted EBITDA of $480.8 million GAAP vs. Non-GAAP EPS Reconciliation (Q3 2023) | Metric | Per Share Amount | | :--- | :--- | | Diluted EPS, as reported | $1.26 | | Merger and acquisition expenses | $0.06 | | Non-cash foreign currency loss | $0.01 | | AFF purchase accounting adjustments | $0.24 | | Other adjustments, net | ($0.01) | | **Adjusted diluted EPS** | **$1.56** | Adjusted EBITDA Reconciliation (in thousands) | Period | Net Income | Adjusted EBITDA | | :--- | :--- | :--- | | Three Months Ended Sep 30, 2023 | $57,144 | $132,985 | | Nine Months Ended Sep 30, 2023 | $149,712 | $350,028 | | Trailing Twelve Months Ended Sep 30, 2023 | $229,778 | $480,759 | [Quantitative and Qualitative Disclosures About Market Risk](index=61&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's main market risks stem from fluctuations in interest rates, gold prices, and foreign currency exchange rates, with no material changes to these exposures since the end of 2022 - The company's primary market risks are changes in interest rates, gold prices, and foreign currency exchange rates[186](index=186&type=chunk) - There have been no material changes to the Company's exposure to market risks since December 31, 2022[186](index=186&type=chunk) [Controls and Procedures](index=61&type=section&id=Item%204.%20Controls%20and%20Procedures) As of September 30, 2023, the company's CEO and CFO concluded that disclosure controls and procedures were effective, with no material changes in internal control over financial reporting during the quarter - Management concluded that as of September 30, 2023, the Company's disclosure controls and procedures were effective[187](index=187&type=chunk) - No changes in internal control over financial reporting occurred during the quarter ended September 30, 2023, that have materially affected, or are reasonably likely to materially affect, the Company's internal control[188](index=188&type=chunk) [Part II. Other Information](index=62&type=section&id=PART%20II.%20OTHER%20INFORMATION) This section covers legal proceedings, risk factors, equity sales, and other relevant corporate disclosures [Legal Proceedings](index=62&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 9 of the financial statements, detailing a civil action by the CFPB against two subsidiaries for alleged Military Lending Act violations, currently stayed pending a Supreme Court decision on the CFPB's funding structure - The company is party to a lawsuit from the CFPB alleging violations of the Military Lending Act (MLA)[63](index=63&type=chunk)[190](index=190&type=chunk) - The action against the Company is stayed pending a U.S. Supreme Court decision regarding the constitutionality of the CFPB's funding structure[63](index=63&type=chunk) [Risk Factors](index=62&type=section&id=Item%201A.%20Risk%20Factors) The company states there have been no material changes to its risk factors from those disclosed in its 2022 Annual Report on Form 10-K - There have been no material changes in the Company's risk factors from those in its 2022 Annual Report on Form 10-K[191](index=191&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=62&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q3 2023, the company repurchased 94,925 shares for approximately $8.8 million, completing a prior authorization, and in July 2023, the Board authorized a new $200 million share repurchase program that remains fully available Share Repurchases - Q3 2023 | Period | Total Shares Purchased | Average Price Paid Per Share | Dollar Value of Shares That May Yet Be Purchased | | :--- | :--- | :--- | :--- | | July 2023 | 94,925 | $92.79 | $200,000,000 | | August 2023 | — | — | $200,000,000 | | September 2023 | — | — | $200,000,000 | - In July 2023, the Company's Board of Directors authorized a new common stock repurchase program for up to **$200.0 million**, of which the entire amount is currently remaining[192](index=192&type=chunk) [Other Information](index=63&type=section&id=Item%205.%20Other%20Information) This section discloses the adoption of Rule 10b5-1 trading plans by Director Randel G. Owen to sell up to 2,000 shares and CFO R. Douglas Orr to sell up to 42,000 shares - On August 10, 2023, Director Randel G. Owen adopted a Rule 10b5-1 plan to sell up to **2,000 shares** of common stock[195](index=195&type=chunk) - On August 22, 2023, CFO R. Douglas Orr adopted a Rule 10b5-1 plan to sell up to **42,000 shares** of common stock[196](index=196&type=chunk) [Exhibits](index=64&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including the Seventh Amendment to the company's Credit Agreement, CEO and CFO certifications, and Inline XBRL data files - A key exhibit filed is the Seventh Amendment to the Amended and Restated Credit Agreement, dated October 18, 2023[199](index=199&type=chunk)

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2023 For the transition period from __________ to ___________ Commission file number 001-10960 FIRSTCASH HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 87-3920732 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identif ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ___________ Commission file number 001-10960 FIRSTCASH HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 87- ...

RETAIL SALES TYPICAL MARGIN: 35% - 45% FIRSTCASH HOLDINGS, INC. P . 5 NASDAQ: FCFS PAWN RECEIVABLES ARE FULLY COLLATERALIZED AND NOT SUBJECT TO CONSUMER CREDIT RISK CREDIT TIGHTENING BY UNSECURED LENDERS DRIVES INCREASED DEMAND FOR PAWN February 2023 Cautionary Statement Regarding Forward-Looking Statements FIRSTCASH HOLDINGS, INC. P . 2 — U.S. Pawn Segment: Operations in 25 States and the District of Columbia — RETAIL POS PAYMENT SOLUTIONS SEGMENT: AMERICAN FIRST FINANCE ("AFF") PROVIDES LEASE-TO-OWN ("LTO ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ___________ Commission file number 001-10960 FIRSTCASH HOLDINGS, INC. (Exact name of registrant as specified in its charter) (State or other j ...