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PROG (PRG) - 2025 Q2 - Earnings Call Presentation
2025-07-23 12:30
Q2 2025 Financial Performance - Consolidated revenues reached $604.7 million [6], a 2.1% increase year-over-year [13] - Net earnings amounted to $38.5 million [6] - Adjusted EBITDA stood at $73.5 million [6], with an increase due to Four Technologies' contribution [13] - Diluted EPS was $0.95, while Non-GAAP Diluted EPS reached $1.02, a 10.9% increase year-over-year [6, 13] Progressive Leasing Segment - Progressive Leasing GMV totaled $413.9 million [6], down 8.9% year-over-year [16] - Revenue was essentially flat year-over-year [16] - Write-offs as a percentage of revenue were 7.5%, 20 bps lower than the same period last year [16] Four Technologies - Four Technologies experienced a 166.5% growth in GMV [6] - Four Technologies delivered over 200% revenue growth [7] 2025 Outlook - The company revised its full-year 2025 total revenue outlook to $2.45 billion - $2.5 billion [22] - The company revised its full-year 2025 adjusted EBITDA outlook to $255 million - $265 million [22] - The company expects Q3 2025 total revenues of $580 million - $595 million [25]
Affirm Raises Fiscal 2025 Guidance: A Signal for Sustainable Growth?
ZACKS· 2025-06-18 16:56
Core Insights - Affirm Holdings Inc. (AFRM) has raised its full-year guidance for fiscal 2025 following a strong performance in Q3, indicating confidence in its growth strategies and fundamentals [1][10] - The company expects significant growth in Gross Merchandise Value (GMV) and transaction volumes, driven by repeat customers and increased card network revenues [1][4] Financial Performance - For fiscal 2025, AFRM forecasts revenues between $3.163 billion and $3.193 billion, an increase from the previous guidance of $3.13 billion to $3.19 billion [2] - The adjusted operating margin for fiscal 2025 has been raised to a range of 23% to 23.6%, up from 22.5% to 23.5% [2] - The revenue guidance for Q4 fiscal 2025 is now projected to be between $815 million and $845 million [2] Growth Metrics - In fiscal 2023, GMV was $20.2 billion, with a year-over-year growth of approximately 32% in fiscal 2024, followed by a 36% increase in the first nine months of fiscal 2025 [3] - AFRM anticipates GMV for fiscal 2025 to be between $35.7 billion and $36 billion, an increase from the previous forecast of $34.74 billion to $35.34 billion [3][10] - The growth in GMV is attributed to partnerships with major merchants, wallet partners, and direct-to-consumer offerings [4] Competitive Landscape - Competitors such as PayPal Holdings, Inc. (PYPL) and Sezzle Inc. (SEZL) are also showing growth, with PayPal's net revenues increasing 1% year-over-year to $7.8 billion in Q1 2025 and Sezzle's GMV rising 64.1% year-over-year to $808.7 million in the same period [5][6] Stock Performance and Valuation - Over the past year, AFRM's shares have increased by 96.2%, outperforming the industry growth of 37.1% [7] - AFRM trades at a forward price-to-sales ratio of 4.94, which is below the industry average of 5.68 [8] Earnings Estimates - The Zacks Consensus Estimate for Affirm's 2025 earnings implies a growth of 100.6% from the previous year, with five upward estimate revisions in the past 60 days [12]
AFRM Extends Partnership With Williams-Sonoma to Bring BNPL to Canada
ZACKS· 2025-05-30 16:31
Core Insights - Affirm Holdings, Inc. has expanded its partnership with Williams-Sonoma, Inc. to Canada, allowing Canadian customers to access Affirm's services across various home furnishing brands [1][3] - The partnership aligns with Affirm's strategy to grow in high-priced, lifestyle-focused markets, leveraging Williams-Sonoma's premium product offerings [3] - Affirm's existing partnerships with major companies like Amazon, Apple, and Samsung provide a strong foundation for its international expansion strategy [4] Financial Performance - In the fiscal third quarter of 2025, Affirm's merchant network revenues increased by 34.3% year-over-year to $214 million, driven by a growing gross merchandise value (GMV) [5] - The projected GMV for fiscal 2025 is estimated to be between $35.7 billion and $36 billion [5] - Affirm's stock price has surged by 77.8% over the past year, outperforming the industry's growth of 34.1% [8]