Core Insights - The company navigated a challenging retail environment in 2025, marked by a significant partner bankruptcy and intentional credit tightening, resulting in an 8.6% decline in leasing GMV [1] - A strategic shift was made towards a 'consolidated GMV' framework to better reflect the contributions from the BNPL platform and the newly acquired Purchasing Power business [1] - The For segment achieved triple-digit GMV and revenue growth for nine consecutive quarters, driven by high consumer engagement and a successful subscription model [1] Financial Performance - The company generated $45 million in incremental leasing GMV through cross-selling to existing Money App and For customers, leveraging a multi-product ecosystem [1] - The Vibe portfolio was divested to enhance capital efficiency and redirect resources towards higher-return strategic initiatives [1] - Progressive Leasing maintained disciplined portfolio management, keeping write-offs within the target range of 6% to 8% despite macroeconomic volatility [1] Technological Integration - AI capabilities were integrated, including the Piper Plus assistant and a flexible lease engine, improving operational efficiency and decision speed by approximately 75% [1]