UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 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: 001-38047 Rent-A-Center, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer in ...

Financial Performance - Full year 2021 consolidated revenues reached $46 billion, a 629% increase compared to the previous year, or a 173% increase on a pro forma basis[3] - Adjusted EBITDA for 2021 was $611 million, an 849% increase year-over-year, or a 149% increase on a pro forma basis[3] - Non-GAAP diluted EPS for 2021 was $557, compared to $353 in 2020[3] - Q4 revenues totaled $1171 million, with Rent-A-Center Business contributing $506 million (432%), Acima $612 million (523%), Franchising $38 million (32%), and Mexico $16 million (14%)[17] - Q4 Adjusted EBITDA was $124 million, representing 106% of total revenue[17] Segment Highlights - Acima's Q4 revenues were $612 million, a 123% increase on a pro forma basis[8] - Rent-A-Center Business same store sales increased by 104% year-over-year, and 241% on a 2-year basis[10] - E-commerce revenue for Rent-A-Center Business increased by 179% year-over-year and accounted for 23% of revenue in Q4[10] Strategic Initiatives and Challenges - The company completed the acquisition of Acima, expanding its strategic position and growth opportunities[3] - Macro headwinds, including the end of government pandemic relief programs and high inflation rates, impacted core consumers[5] - Skip/stolen losses for Acima were 118% of revenue in Q4, an increase of 100 bps year-over-year on a pro forma basis[8] - Skip/stolen losses for Rent-A-Center Business were 40% of revenue in Q4, an increase of 140 bps year-over-year[10] 2022 Guidance - The company provided 2022 revenue guidance of $4450 billion to $4600 billion and adjusted EBITDA guidance of $515 million to $565 million[12]

Financial Data and Key Metrics Changes - The company reported revenues of approximately $4.6 billion, an increase of 17% on a pro forma basis, driven by strong organic growth from both the Rent-A-Center Business Segment and the Acima business [9] - Non-GAAP EPS rose to $5.57 from $3.53 in 2020, and a dividend of approximately $1.24 per share was paid out [9] - Fourth quarter revenues reached $1.2 billion, a 63.5% increase year-over-year on a reported basis and a 10.5% increase on a pro forma basis [48] - Adjusted EBITDA for the fourth quarter was $124 million, a 28.2% increase on a reported basis but a 22.5% decrease on a pro forma basis [48] Business Line Data and Key Metrics Changes - The Rent-A-Center segment experienced a revenue growth of 10% with same-store sales growth of 15.4% and a lease portfolio increase of 10.5% [39] - E-commerce revenue grew by 17.9% year-over-year, accounting for 23% of total revenue in the fourth quarter [43] - The Acima segment saw GMV growth of 23% and revenue growth of 22% on a pro forma basis in 2021, but faced challenges in the fourth quarter with GMV growth of only 5% year-over-year [27][31] Market Data and Key Metrics Changes - The macro environment shifted from a tailwind in the first half of 2021 to a headwind in the latter half, impacting consumer spending and payment behavior [12][13] - The company anticipates that macro headwinds will persist through much of 2022, affecting the ability of core customers to access durable goods [18][60] Company Strategy and Development Direction - The company aims to evolve into a leasing and payment solutions platform, focusing on digital growth and enhancing omnichannel capabilities [16][40] - A more measured approach to growth initiatives is being adopted in response to the unfavorable external environment, with a focus on underwriting for yield and loss improvements [19][36] - The company plans to continue investing in technology and talent to support growth initiatives while managing capital allocation prudently [58] Management's Comments on Operating Environment and Future Outlook - Management noted that the external environment has created significant challenges, particularly in the latter part of 2021, leading to higher delinquencies and loss rates [14][15] - The company expects revenue for 2022 to be between $4.450 billion and $4.6 billion, with adjusted EBITDA of $515 million to $565 million [21] - There is uncertainty regarding the macroeconomic environment's impact on business performance, with expectations that the first half of 2022 will be particularly challenging [60] Other Important Information - The company has approximately $360 million remaining on its current share repurchase authorization and a cash balance of $108.3 million [52] - The effective tax rate on a non-GAAP basis was 23.4%, and the diluted share count was 65 million [50] Q&A Session Summary Question: Why didn't the company pre-announce the underperformance? - Management indicated that visibility into the underperformance became clearer only in the weeks leading up to the call, which influenced the decision not to pre-announce [66] Question: What accounts for the divergence in performance between Rent-A-Center and Acima? - The difference is attributed to the underwriting practices at Acima, which did not tighten quickly enough in response to changing macro conditions, leading to higher delinquencies [70][72] Question: What is the average duration of Acima leases and the expected impact on performance? - The average duration of Acima leases is approximately six to eight months, with expectations that the first half of the year will be under pressure due to previous underwriting practices [77] Question: How does the company view the impact of inflation on its business? - Management believes inflation will eventually push more customers into lease-to-own transactions, but currently, the stress on core customers is evident [90] Question: What is the outlook for GMV in the Acima segment? - The company expects mid-single digit declines in GMV due to tighter underwriting practices, but application volumes and new merchant openings remain strong [101][104]

Rent-A-Center, Inc. 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, 2021 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: 001-38047 (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer inco ...

Rent-A-Center, Inc. (RCII) Q3 2021 Earnings Conference Call November 4, 2021 8:30 AM ET Company Participants Brendan Metrano - Vice President, Investor Relations Mitch Fadel - Chief Executive Officer Jason Hogg - Executive Vice President, Acima Anthony Blasquez - Executive Vice President, Rent-A-Center Business Maureen Short - Chief Financial Officer Conference Call Participants Bobby Griffin - Raymond James John Rowan - Janney Montgomery Scott Vincent Caintic - Stephens Anthony Chukumba - Loop Capital Mark ...

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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, 2021 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: 001-38047 Rent-A-Center, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer incorpora ...

Rent-A-Center, Inc. (RCII) Q2 2021 Earnings Conference Call August 5, 2021 8:30 AM ET Company Participants Brendan Metrano – Vice President-Investor Relations Mitch Fadel – Chief Executive Officer Jason Hogg – Executive Vice President-Acima Maureen Short – Chief Financial Officer Anthony Blasquez – Executive Vice President-Rent-A-Center Business Conference Call Participants Kyle Joseph – Jefferies Vincent Caintic – Stephens Brad Thomas – KeyBanc Capital Markets Anthony Chukumba – Loop Capital Markets John R ...

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