Table of Contents As filed with the U.S. Securities and Exchange Commission on January 5, 2026. Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Jefferson Capital, Inc. (Exact name of registrant as specified in its charter) Delaware 6153 33-1923926 (State or other jurisdiction of (Primary Standard Industrial (I.R.S. Employer incorporation or organization) Classification Code Number) Identification N ...

Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- "buy low and sell high." Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more money in lesser time by "buying high and selling higher."Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth po ...

Payre: Solving Late Payments Woes by Making Legal Debt Recovery Platform Accessible to AllDecember 07, 2025 6:57 AM EST | Source: GYTNew York, New York--(Newsfile Corp. - December 7, 2025) - For the first time, creditors can recover debtor arrears through an accountant or lawyer with zero upfront costs -and it's 10x faster.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8530/276800_3344d896544bb81b_001full.jpgPayre (https://www.payre.co), today a ...

MINNEAPOLIS, Dec. 04, 2025 (GLOBE NEWSWIRE) -- Jefferson Capital, Inc. (NASDAQ: JCAP) (“Jefferson Capital”), a leading analytically driven purchaser and manager of charged-off, insolvency and active consumer accounts, today completed the previously announced portfolio acquisition of credit card assets from affiliates of Bluestem Brands. The net purchase price for the portfolio was $196.7 million and the estimated remaining collections associated with the portfolio are $311.4 million. About Jefferson Capital ...

Core Insights - PRA Group, Inc. (PRAA) is positioned for growth due to improved cash collection efficiency in the U.S. and increased portfolio income, leveraging its extensive infrastructure and relationships in the consumer debt market [1][3] Financial Performance - In Q3 2025, PRAA reported total cash collections of $542.2 million, marking a 13.7% year-over-year increase, driven by successful portfolio acquisitions and strong debtor recovery in the U.S. and Europe [3][10] - The adjusted cash efficiency ratio improved to 61.3% in the first nine months of 2025, up from 59% in the previous year [3] - The consensus estimate for PRAA's 2025 earnings per share is $1.45, reflecting an 8.2% increase over the past month, with a projected 55.2% rise for 2026 [5] - Revenue estimates for 2025 stand at $1.17 billion, indicating a 5.4% year-over-year increase, with expectations for a further 7.3% increase in 2026 [6][10] Strategic Focus - Total portfolio purchases in the last quarter were $255.5 million, indicating a strategic shift towards selective and value-oriented buying, with a target of $1.2 billion in total portfolio purchases for 2025 [4][10] - This disciplined approach aims to preserve long-term returns by avoiding overpayment for portfolios and focusing on non-performing loans that meet return thresholds [4] Market Position - PRA Group operates in the Americas, Australia, and Europe, with a market capitalization of nearly $667 million, and is currently rated as a Zacks Rank 2 (Buy) stock [2]

Industry Focus - Private equity and debt collectors are profiting significantly from home loans previously considered canceled [1] Investigative Journalism - Bloomberg Investigates explores the financial gains made by private equity and debt collectors [1]

Core Insights - PRA Group, Inc. is a global leader in acquiring and collecting nonperforming loans, with management scheduled to participate in several upcoming investor events [1][3]. Event Participation - The company will attend the Citizens Financial Services Conference on November 18, 2025, with President and CEO Martin Sjolund and CFO Rakesh Sehgal participating in 1x1 and small group meetings [1]. - On December 2, 2025, PRA Group will be present at the Bank of America Leveraged Finance Conference, featuring CFO Rakesh Sehgal and VP of Investor Relations Najim Mostamand in 1x1 meetings and a fireside chat [1]. - The Jefferies Specialty Finance Crossover Conference is scheduled for December 11, 2025, where Martin Sjolund, Rakesh Sehgal, and Najim Mostamand will engage in 1x1 and small group meetings [1]. - An invitation-only Arctic Securities Nordic Debt Collection Webinar will take place on January 9, 2026, with Martin Sjolund as the speaker [1]. Company Overview - PRA Group, Inc. focuses on returning capital to banks and creditors, aiding in the expansion of financial services for consumers across the Americas, Europe, and Australia [1]. - The company employs thousands globally and collaborates with customers to help resolve their debt [1].

Financial Performance Highlights - Portfolio purchases increased by 23% to $346 million[6] - Collections increased by 20% to $663 million[6, 15] - Estimated Remaining Collections (ERC) increased by 10% to $9.5 billion[6] - Earnings Per Share (EPS) increased by 152% to $3.17[6] - Average Receivable Portfolios increased by 16% to $4.2 billion[6] Market and Strategy - The company is allocating more capital to U S opportunities where returns are highest[13] - MCM (U S ) portfolio purchases in Q3 2025 were $261 million, up 13% compared to Q3 2024[26] - MCM (U S ) collections in Q3 2025 were $502 million, up 25% compared to Q3 2024[26] Liquidity and Debt - The company added $550 million of liquidity and has no significant maturities until 2028[36] - Available liquidity as of September 30, 2025, was $736 million, including $491 million available from the Revolving Credit Facility, $97 million from the U S Facility, and $148 million in cash[39] Updated Guidance - The company maintains its guidance for portfolio purchases to exceed $1 35 billion[44] - The company updated its guidance for collections to +18% to $2 55 billion[44]

Financial Data and Key Metrics Changes - Cash collections grew 14% year-over-year to $542 million, reflecting strong recent purchases and operational initiatives [5][18] - Adjusted EBITDA for the last 12 months increased 15% to $1.3 billion, indicating operational leverage [6][26] - The net loss was $408 million for the quarter, but adjusted net income was $21 million, translating to an adjusted ROATE of 9% [6][25] Business Line Data and Key Metrics Changes - Portfolio purchases totaled $255 million, with 60% in the Americas and 40% in Europe, reflecting a more selective investment approach [16] - U.S. legal cash collections increased by 27% year-over-year to $125 million, driven by improvements in the legal collections channel [5][19] - Portfolio revenue for the quarter rose 12% year-over-year to $310 million, with portfolio income growing 20% to $259 million [20] Market Data and Key Metrics Changes - Cash collections in Europe exceeded expectations by 10%, with strong performance across core markets [19] - The Americas saw cash collections exceed expectations by 6%, with U.S. legal collections representing 46% of cash collected in Americas Core [19][30] - ERC at quarter-end was $8.4 billion, up 15% year-over-year and 1% sequentially [17] Company Strategy and Development Direction - The company is focused on cost efficiency, having implemented a cost reduction program that is expected to yield $20 million in annualized savings [8][31] - A new organizational structure in U.S. operations aims to enhance accountability and decision-making [9] - The establishment of a second talent hub in Charlotte, North Carolina, is intended to attract specialized talent [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the underlying European business performance, despite the goodwill impairment charge [6][23] - The company is monitoring the consumer environment, particularly in the U.S., but believes its global diversification mitigates risks [29] - The company reaffirmed its financial targets for 2025, including a purchase target of $1.2 billion and cash collections growth in the high single digits [30] Other Important Information - A non-recurring non-cash goodwill impairment charge of $413 million was recorded, primarily due to a decline in stock price [5][23] - The company issued its first euro-denominated bond, raising EUR 300 million to pay down bank debt [28] Q&A Session Summary Question: Clarification on the $15 million payment - Management indicated that the $15 million payment was a unique situation and not expected to recur frequently [33][34] Question: Insights on consumer health in the U.S. - Management noted that the overall customer profile remains stable despite recent headlines about consumer bifurcation [36] Question: Timeline for achieving GAAP profitability from portfolio income - Management acknowledged the ongoing journey towards profitability and indicated that operational improvements could lead to higher future expectations [36][37] Question: Impact of goodwill charge on financial performance - Management clarified that the goodwill charge was a non-cash adjustment and did not affect operational performance or ERC [45][46] Question: Guidance for collections growth in Q4 - Management confirmed that while Q4 typically sees lower growth, they remain confident in achieving their annual targets [48]

Core Insights - PRA Group, Inc. reported a Q3 2025 net loss of $408 million, primarily due to a non-cash goodwill impairment charge of $413 million, while adjusted net income was $21 million [1][5] - Total cash collections increased by 13.7% year-over-year to $542.2 million, driven by strong performance in both the U.S. and European operations [1][5] - The company is focusing on cost efficiency and operational improvements under new CEO Martin Sjolund, with a notable 27% increase in U.S. legal cash collections [3][5] Financial Performance - Q3 2025 total cash collections reached $542.2 million, up from $477.1 million in Q3 2024, reflecting a 13.7% increase [5] - Adjusted EBITDA for the 12 months ended September 30, 2025, was $1.3 billion, representing a 15.1% increase [5] - Portfolio income increased by 19.6% to $258.5 million compared to $216.1 million in Q3 2024 [14] Operational Highlights - Cash collections grew 14% year-over-year, with a significant contribution from recent portfolio purchases and a 27% increase in U.S. legal cash collections [3][5] - The company made total portfolio purchases of $255.5 million in Q3 2025, down from $349.9 million in Q3 2024, as part of a selective purchasing strategy [5][7] - Estimated remaining collections (ERC) reached a record $8.4 billion, up 15.2% year-over-year [5] Strategic Initiatives - Under the new CEO, the company is prioritizing cost efficiency, reorganizing U.S. operations, and modernizing IT systems [3] - The company has established forward flow commitments of $297.8 million for the next 12 months, indicating ongoing investment in nonperforming loan portfolios [8][10] - The focus remains on maximizing value creation through disciplined purchasing strategies [1][5]