EZCORP(EZPW) - 2026 Q1 - Quarterly Results

Financial Performance - Net income increased 43% to $44.3 million, with adjusted net income rising 38% to $43.9 million[7] - Total revenues grew 19% to $382.0 million, while gross profit increased 20% to $223.0 million[7] - Adjusted EBITDA increased 36% to $70.3 million, reflecting improved operational performance[7] - Net income for the three months ended December 31, 2025, was $44,304,000, a 42.5% increase compared to $31,016,000 in the same period of 2024[23] - Total revenues for the three months ended December 31, 2025, reached $382,019,000, compared to $382,019,000 in the previous year, indicating stable performance[25] - Gross profit for the same period was $222,966,000, reflecting a strong margin despite increased costs[25] - Consolidated revenues for the three months ended December 31, 2025, increased to $382.0 million, reflecting a 19% year-over-year growth[33] - The gross profit for the same period in 2025 was $223.0 million, marking a 20% increase compared to the previous year[33] Pawn Loans and Lending Activities - Pawn loans outstanding (PLO) rose 14% to $314.4 million, driven by higher average loan sizes and strong demand[7] - Pawn loans increased to $314,353,000 as of December 31, 2025, compared to $274,824,000 in 2024, indicating growth in lending activities[21] Acquisitions and Expansion - The company expanded its footprint by 23 stores, including 17 acquired stores and 7 new stores[7] - Acquired an 87.7% controlling interest in Founders One, adding 105 stores across 12 countries, including the U.S., Costa Rica, and Panama[7] - Completed the acquisition of 12 pawn stores in Texas for $27.5 million, enhancing presence in a key market[7] - The company made acquisitions totaling $9,147,000 during the quarter, indicating ongoing investment in growth opportunities[23] - The company opened 7 new locations and acquired 17 locations during the three months ended December 31, 2025, bringing the total store count to 1,383[28] Cash and Liquidity - Cash and cash equivalents increased to $465.9 million from $174.5 million as of December 31, 2024, primarily due to a $300 million issuance of Senior Notes[7] - Cash and cash equivalents at the end of the period were $486,121,000, up from $183,892,000 year-over-year, showing improved liquidity[23] Costs and Expenses - Store expenses increased 14%, primarily due to labor costs, including minimum wage increases in Latin America[8] Assets and Inventory - Total assets increased to $1,987,480,000 as of December 31, 2025, up from $1,499,133,000 a year earlier, representing a 32.5% growth[21] - The company reported a consolidated net inventory of $253.4 million as of December 31, 2025, a 27% increase from the previous year[33] Segment Performance - The company reported a segment contribution of $93,658,000 before income taxes for the three months ended December 31, 2025[25] - Latin America Pawn gross profit reached $62.3 million for the three months ended December 31, 2025, a 33% increase year-over-year[33] - The Latin America Pawn segment profit before tax was $20.1 million for the three months ended December 31, 2025, a 32% increase year-over-year[33] Financial Measures - The company utilizes non-GAAP financial measures to provide additional insights into its operations, particularly in evaluating its Latin America Pawn operations[29]