Financial Data and Key Metrics Changes - Total cash collections for Q1 2023 were $411 million, a 14% year-over-year decrease, or a 12% decrease on a constant currency basis, primarily due to lower portfolio purchases in 2021 and 2022 [10][40] - Total revenues for the quarter were $155 million, with portfolio revenue at $151 million and portfolio income at $188 million, reflecting a negative change in expected recoveries of $37 million [29] - Operating expenses increased by $20 million to $189 million, driven by higher compensation, employee services, and legal collection costs [34] Business Line Data and Key Metrics Changes - Quarterly portfolio purchases were $230 million, up 56% year-over-year, indicating a positive trend in purchasing activity [18] - Cash collections in the Americas decreased by $52 million to $254 million, attributed to lower portfolio purchases and a muted tax season [41] - European cash collections decreased by 10%, but only 2% on a currency-adjusted basis, representing over-performance of approximately 3% compared to internal expectations [43] Market Data and Key Metrics Changes - Active US credit card balances exceeded pre-pandemic levels by 14%, with delinquency and charge-off rates rising to 2.3% and 2.6%, respectively [28] - The US market is experiencing challenges due to a weaker economic environment and reduced consumer liquidity, impacting cash performance and margins [8][40] Company Strategy and Development Direction - The company aims to deepen seller relationships to boost purchasing opportunities and drive market share growth while maintaining a disciplined customer-centric focus [9] - The strategy remains intact, focusing on purchasing non-performing loans and expanding addressable markets [9][74] - The company is committed to optimizing internal processes and enhancing execution speed to align with customer and market expectations [74] Management's Comments on Operating Environment and Future Outlook - Management acknowledges near-term challenges in the US business due to economic conditions but remains optimistic about future supply opportunities [8][49] - The company is implementing initiatives to drive efficiencies, including a reduction in force and potential outsourcing of certain activities [16][90] - Management expects to collect $1.4 billion of the ERC balance over the next 12 months, with anticipated investments exceeding $848 million to maintain current ERC levels [46] Other Important Information - The company completed a $400 million offering of senior unsecured notes, with proceeds primarily allocated for repaying convertible notes maturing in June [23] - The cash efficiency ratio for Q1 was 54.3%, with expectations to reach a 60% run rate by Q4 2023 [44][80] Q&A Session Summary Question: What led to the new CEO accepting the role? - The new CEO accepted the role due to prior knowledge of the company and the opportunities for growth identified during his tenure on the Board [54] Question: What are the main strategic priorities moving forward? - The focus is on execution and optimizing operations rather than pursuing M&A at this time [57] Question: How is the company addressing cash collection challenges? - The company is adjusting its collection strategies and expanding its legal channel to improve cash generation [26][90] Question: What is the outlook for cash collections in the current economic environment? - The company anticipates continued softness in cash collections due to economic conditions but expects this to lead to more portfolio supply in the future [33][115] Question: How does the company view pricing dynamics in the market? - There are signs of pricing normalization as some sellers pull deals from the market due to unmet pricing expectations [81]

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 ☐ 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: 000-50058 PRA Group, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation ...

806 Adjusted EBITDA Income tax expense | --- | --- | --- | |-------|---------------------------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Najim Mostamand, CFA | | | | VP, Investor Relations (757) 431-7913 | | | | IR@pragroup.com | | | | IR.PRAGROUP.COM | | Recoveries applied to negative allowance less Changes in expected recoveries 820 1 15 15 Depreciation and amortization Adjustment for net income attributable to noncontrolling interests ור • 27 years across v ...

PRA Group, Inc. (NASDAQ:PRAA) Q4 2022 Results Conference Call February 27, 2023 5:00 PM ET Company Participants Najim Mostamand - Vice President of Investor Relations Kevin Stevenson - President & Chief Executive Officer Pete Graham - Executive Vice President & Chief Financial Officer Conference Call Participants Bob Napoli - William Blair David Scharf - JMP Securities Mark Hughes - Truist Robert Dodd - Raymond James Operator Good afternoon, and welcome to the PRA Group's Q4 2022 Conference Call. All partic ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the transition period from ________ to ________ 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 ☐ Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 000-50058 PRA Group, Inc. (Exact name of registrant as specified in its charter) Delaware 75-3078675 (I.R.S. Employer Identification ...

PRA Group, Inc. (NASDAQ:PRAA) Q3 2022 Earnings Conference Call November 3, 2022 5:00 PM ET Company Participants Najim Mostamand - Vice President of Investor Relations Kevin Stevenson - President & Chief Executive Officer Pete Graham - Executive Vice President & Chief Financial Officer Conference Call Participants Operator Good afternoon, and welcome to the PRA Group's Third Quarter 2022 Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note that this event is be ...

PRA Group Q3 2022 Conference Call Presentation 1 Forward-Looking Statements 2 Statements in this presentation, other than statements of historical fact, are forward-looking statements, which are based on our current beliefs, projections, assumptions and expectations concerning future operations and financial performance. Such statements involve uncertainties and risks, some of which are not currently known to us, and may be superseded by future events that could cause actual results to differ materially fro ...

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 September 30, 2022 ☐ 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: 000-50058 PRA Group, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporat ...

PRA Group, Inc. (NASDAQ:PRAA) Q2 2022 Earnings Conference Call August 8, 2022 5:00 PM ET Company Participants Lauren Partin - Vice President of Global Financial Planning & Analysis Kevin Stevenson - President & Chief Executive Officer Peter Graham - Executive Vice President & Chief Financial Officer Conference Call Participants Bob Napoli - William Blair Mark Hughes - Truist Securities Robert Dodd - Raymond James David Scharf - JMP Securities Operator Good afternoon, and welcome to the PRA Group conference ...

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, 2022 ☐ 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: 000-50058 PRA Group, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation o ...