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EZCORP Reports Third Quarter Fiscal 2025 Results

Continued Top-line Momentum Drives Exceptional Earnings Growth

AUSTIN, Texas, July 30, 2025 (GLOBE NEWSWIRE) — EZCORP, Inc. (NASDAQ: EZPW), a leading provider of pawn transactions in the United States and Latin America, today announced results for its third quarter ended June 30, 2025.

Unless otherwise noted, all amounts in this release are in conformity with U.S. generally accepted accounting principles (“GAAP”) and comparisons shown are to the same period in the prior year.

THIRD QUARTER HIGHLIGHTS

  • Pawn loans outstanding (PLO) increased 11% to $291.6 million.
  • Net income increased 48% to $26.5 million. On an adjusted basis1, net income increased 46% to $25.2 million.
  • Diluted earnings per share increased 36% to $0.34. On an adjusted basis, diluted earnings per share increased 38% to $0.33.
  • Adjusted EBITDA increased 42% to $45.2 million.
  • Total revenues increased 11% to $311.0 million, while gross profit increased 10% to $183.6 million.
  • Grew our footprint by 52 stores, including 40 stores acquired in Mexico on June 17, 2025.

CEO COMMENTARY AND OUTLOOK

Lachie Given, Chief Executive Officer, stated, “This quarter showcased continued strong momentum in our business, disciplined execution from our team, and the scalability of our platform. We delivered record Q3 revenue and achieved all-time high PLO as demand remains strong for immediate cash solutions and secondhand goods. When combined with meaningful efficiency gains throughout the organization, we turned top-line momentum into exceptional earnings growth, as reflected by a 42% increase in adjusted EBITDA and 36% growth in diluted EPS.

“During the quarter, we grew our footprint by 52 stores, including 49 in LatAm and 3 in the US, 1 of which is a luxury store in Miami Beach. We continue to focus on strategic expansion to scale our business, as well as exceptional operating performance across geographies. In the U.S., disciplined expense management and store level execution drove a 32% increase in segment contribution. In Latin America, we delivered over 30% growth in contribution on a constant currency basis, resulting from both organic growth and a partial quarter benefit from acquired stores.

“Our recently strengthened balance sheet with $472 million in liquidity enables us to fund accelerated growth, organically and through strategic acquisitions. Our pipeline of M&A prospects is compelling, and we are ideally positioned to capitalize on attractive scale opportunities. Looking ahead, we remain highly focused on disciplined capital allocation, operational excellence, and delivering long-term value for our shareholders.”

CONSOLIDATED RESULTS

Three Months Ended June 30As Reported Adjusted1
in millions, except per share amounts 2025  2024  2025  2024
        
Total revenues$311.0 $281.4 $319.9 $281.4
Gross profit$183.6 $166.7 $188.4 $166.7
Income before tax$34.7 $23.0 $34.0 $22.9
Net income$26.5 $18.0 $25.2 $17.2
Diluted earnings per share$0.34 $0.25 $0.33 $0.24
EBITDA (non-GAAP measure)$45.7 $31.8 $45.2 $31.7
            
  • PLO increased 11% to $291.6 million, up $29.9 million. On a same-store2 basis, PLO increased 9% due to increase in average loan size, continued strong pawn demand and improved operational performance.
  • Total revenues increased 11% and gross profit increased 10%, reflecting improved pawn service charge (PSC) revenues due to higher average PLO.
  • PSC increased 7% as a result of higher average PLO.
  • Merchandise sales gross margin remained consistent at 36%. Aged general merchandise improved to 2.3% of total general merchandise inventory, down 83 basis points.
  • Net inventory increased 31%, as a result of an increase in PLO, layaways and purchases and a decrease in inventory turnover to 2.4x, from 2.7x.
  • Store expenses increased 2% and 1% on a same-store basis.
  • General and administrative expenses increased 9% primarily due to labor, with approximately 50% due to long term incentive compensation.
  • Income before taxes was $34.7 million, up 51% from $23.0 million, and adjusted EBITDA increased 42% to $45.2 million.
  • Diluted earnings per share increased 36% to $0.34. On an adjusted basis, diluted earnings per share increased 38% to $0.33.
  • Cash and cash equivalents at the end of the quarter was $472.1 million, up from $170.5 million as of September 30, 2024. The increase was due primarily to $300.0 million (less issuance costs) from the issuance of the Senior Notes due 2032 offset by an increase in earning assets.

SEGMENT RESULTS

U.S. Pawn

  • PLO ended the quarter at $221.1 million, an increase of 11% on a total and same-store basis due to increase in average loan size, strong loan demand and improved operational performance.
  • Total revenues increased 11% and gross profit increased 12%, driven by increased PSC, merchandise sales and scrap sales.
  • PSC increased 8% as a result of higher average PLO, partially offset by lower PLO yield.
  • Merchandise sales increased 4%, on a total and same-store basis, and sales gross margin increased by 80 bps to 38.5%. Aged general merchandise decreased by 260 basis points to 2.5%, or $1.2 million of total general merchandise inventory. Excluding our Max Pawn luxury stores, aged general merchandise was 1.8%.
  • Net inventory increased 36% due to increase in PLO, layaways and purchases and a decrease in inventory turnover to 2.1x, from 2.6x.
  • Store expenses increased 3% on a total and same-store basis.
  • Segment contribution increased 32% to $47.6 million.
  • Segment store count increased by 3 to 545, due to acquisitions, including 1 luxury store in Miami Beach.

Latin America Pawn

  • PLO improved to $70.6 million, an increase of 13% (16% on constant currency basis). On a same-store basis, PLO increased 2% (4% increase on a constant currency basis). The difference is driven primarily by our recent acquisition.
  • Total revenues increased 11% (21% on constant currency basis), and gross profit increased 6% (16% on a constant currency basis), primarily due to increased merchandise sales and pawn service charges.
  • PSC increased to $31.4 million, an increase of 3% (13% on a constant currency basis) as a result of higher average PLO.
  • Merchandise sales increased 12% (23% on constant currency basis) and increased 8% on a same-store basis (19% increase on a constant currency basis). Merchandise sales gross margin decreased to 31% from 32%. Aged general merchandise increased to 2.2% from 0.9% of total general merchandise inventory.
  • Net inventory increased 18% (21% on a constant currency basis) due to an increase in PLO and decrease in inventory turnover to 3.0x, from 3.1x. On a same-store basis, net inventory increased by 10% (13% on a constant currency basis). The difference is driven primarily by our recent acquisition.
  • Store expenses increased 1% (12% increase on a constant currency basis) and decreased 3% on a same-store basis (7% increase on a constant currency basis). The constant currency increase was due primarily to increased labor, in line with store activity and minimum wage increases.
  • Segment contribution increased 20% to $12.4 million (30% on a constant currency basis to $13.5 million).
  • Segment store count increased by 49 to 791, primarily due to the acquisition of 40 stores, the addition of 10 de novo stores and the consolidation of 1 store.

FORM 10-Q

EZCORP’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 has been filed with the Securities and Exchange Commission. The report is available in the Investor Relations section of the Company’s website at http://investors.ezcorp.com. EZCORP shareholders may obtain a paper copy of the report, free of charge, by sending a request to the investor relations contact below.

CONFERENCE CALL

EZCORP will host a conference call on Thursday, July 31, 2025, at 8:00 am Central Time to discuss Third Quarter Fiscal 2025 results. Analysts and institutional investors may participate on the conference call by registering online at https://register-conf.media-server.com/register/BI4f3cd4b3bf1d44a198c59f67b0acdc6f. Once registered you will receive the dial-in details with a unique PIN to join the call. The conference call will be webcast simultaneously to the public through this link: https://edge.media-server.com/mmc/p/hqptihjy. A replay of the conference call will be available online at http://investors.ezcorp.com shortly after the end of the call. 

ABOUT EZCORP

Formed in 1989, EZCORP has grown into a leading provider of pawn transactions in the United States and Latin America. We also sell pre-owned and recycled merchandise, primarily collateral forfeited from pawn lending operations and merchandise purchased from customers. We are dedicated to satisfying the short-term cash needs of consumers who are both cash and credit constrained, focusing on an industry-leading customer experience. EZCORP is traded on NASDAQ under the symbol EZPW and is a member of the S&P 1000 Index and Nasdaq Composite Index. 

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FORWARD LOOKING STATEMENTS

This announcement contains certain forward-looking statements regarding the Company’s strategy, initiatives and expected performance. These statements are based on the Company’s current expectations as to the outcome and timing of future events. All statements, other than statements of historical facts, including all statements regarding the Company’s strategy, initiatives and future performance, that address activities or results that the Company plans, expects, believes, projects, estimates or anticipates, will, should or may occur in the future, including future financial or operating results, are forward-looking statements. Actual results for future periods may differ materially from those expressed or implied by these forward-looking statements due to a number of uncertainties and other factors, including operating risks, liquidity risks, legislative or regulatory developments, market factors, current or future litigation and risks associated with the COVID-19 pandemic. For a discussion of these and other factors affecting the Company’s business and prospects, see the Company’s annual, quarterly and other reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.

Contact:
Email: Investor_Relations@ezcorp.com 
Phone: (512) 314-2220

EZCORP, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
    
 Three Months Ended
June 30,
 Nine Months Ended
June 30,
(in thousands, except per share amounts) 2025   2024   2025   2024 
Revenues:       
Merchandise sales$168,624  $158,140  $524,434  $502,230 
Jewelry scrapping sales 26,970   15,395   64,640   43,191 
Pawn service charges 115,339   107,830   348,262   321,442 
Other revenues 48   56   131   188 
Total revenues 310,981   281,421   937,467   867,051 
Merchandise cost of goods sold 108,226   101,211   341,605   322,680 
Jewelry scrapping cost of goods sold 19,116   13,483   48,367   37,479 
Gross profit 183,639   166,727   547,495   506,892 
Operating expenses:       
Store expenses 119,123   116,335   352,101   341,472 
General and administrative 21,780   20,060   60,089   54,869 
Depreciation and amortization 8,003   8,158   24,358   24,942 
Loss (gain) on sale or disposal of assets and other    20   25   (149)
Other operating income (1,262)     (1,262)  (765)
Total operating expenses 147,644   144,573   435,311   420,369 
Operating income 35,995   22,154   112,184   86,523 
Interest expense 8,458   3,539   14,886   10,381 
Interest income (5,440)  (2,931)  (9,408)  (8,452)
Equity in net income of unconsolidated affiliates (1,200)  (1,263)  (4,180)  (4,135)
Other (income) expense (536)  (191)  377   (627)
Income before income taxes 34,713   23,000   110,509   89,356 
Income tax expense 8,210   5,050   27,600   21,457 
Net income$26,503  $17,950  $82,909  $67,899 
        
Basic earnings per share$0.45  $0.33  $1.47  $1.23 
Diluted earnings per share$0.34  $0.25  $1.08  $0.89 
        
Weighted-average basic shares outstanding 59,134   54,898   56,308   55,022 
Weighted-average diluted shares outstanding 82,918   83,008   83,144   84,309 
                

EZCORP, Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
      
(in thousands, except share and per share amounts)June 30,
2025
 June 30,
2024
 September 30,
2024
      
Assets:     
Current assets:     
Cash and cash equivalents$472,088  $218,038  $170,513 
Short-term restricted cash 9,609   9,204   9,294 
Pawn loans 291,634   261,720   274,084 
Pawn service charges receivable, net 45,410   40,638   44,013 
Inventory, net 225,489   171,937   191,923 
Prepaid expenses and other current assets 43,417   40,391   39,171 
Total current assets 1,087,647   741,928   728,998 
Investments in unconsolidated affiliates 13,753   12,297   13,329 
Other investments 51,903   51,220   51,900 
Property and equipment, net 67,439   59,926   65,973 
Right-of-use assets, net 236,064   235,030   226,602 
Long-term restricted cash 5,380       
Goodwill 321,907   308,847   306,478 
Intangible assets, net 57,960   60,164   58,451 
Deferred tax asset, net 25,841   25,245   25,362 
Other assets, net 15,174   15,506   16,144 
Total assets$1,883,068  $1,510,163  $1,493,237 
      
Liabilities and equity:     
Current liabilities:     
Current maturities of long-term debt, net$  $137,326  $103,072 
Accounts payable, accrued expenses and other current liabilities 78,756   69,742   85,737 
Customer layaway deposits 33,336   20,067   21,570 
Operating lease liabilities, current 60,183   58,905   58,998 
Total current liabilities 172,275   286,040   269,377 
Long-term debt, net 517,601   223,998   224,256 
Deferred tax liability, net 2,017   416   2,080 
Operating lease liabilities 184,295   188,996   180,616 
Other long-term liabilities 16,822   9,258   12,337 
Total liabilities 893,010   708,708   688,666 
Commitments and contingencies     
Stockholders’ equity:     
Class A Non-voting Common Stock, par value $0.01 per share; shares authorized: 100 million; issued and outstanding: 57,992,965 as of June 30, 2025; 51,771,917 as of June 30, 2024; and 51,582,698 as of September 30, 2024 580   518   516 
Class B Voting Common Stock, convertible, par value $0.01 per share; shares authorized: 3 million; issued and outstanding: 2,970,171 30   30   30 
Additional paid-in capital 448,073   347,082   348,366 
Retained earnings 586,549   493,830   507,206 
Accumulated other comprehensive loss (45,174)  (40,005)  (51,547)
Total equity 990,058   801,455   804,571 
Total liabilities and equity$1,883,068  $1,510,163  $1,493,237 
            

EZCORP, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
  
 Nine Months Ended
June 30,
(in thousands) 2025   2024 
  
Operating activities:   
Net income$82,909  $67,899 
Adjustments to reconcile net income to net cash provided by operating activities:   
Depreciation and amortization 24,358   24,942 
Amortization of deferred financing costs 1,238   1,212 
Non-cash lease expense 43,889   43,999 
Deferred income taxes (542)  438 
Other adjustments (1,877)  69 
Provision for inventory reserve 39   589 
Stock compensation expense 9,213   7,945 
Equity in net income from investment in unconsolidated affiliates (4,180)  (4,135)
Changes in operating assets and liabilities, net of business acquisitions:   
Pawn service charges receivable (364)  (1,593)
Inventory (9,205)  (2,775)
Prepaid expenses, other current assets and other assets (74)  (3,625)
Accounts payable, accrued expenses and other liabilities (58,023)  (65,396)
Customer layaway deposits 11,276   1,055 
Income taxes (927)  (360)
Net cash provided by operating activities 97,730   70,264 
Investing activities:   
Loans made (738,670)  (683,121)
Loans repaid 417,734   391,297 
Recovery of pawn loan principal through sale of forfeited collateral 291,903   272,781 
Capital expenditures, net (23,051)  (16,870)
Acquisitions, net of cash acquired (17,093)  (11,963)
Proceeds from note receivable 241   1,100 
Investment in unconsolidated affiliate (718)  (993)
Investment in other investments    (15,000)
Dividends from unconsolidated affiliates 3,614   3,535 
Net cash used in investing activities (66,040)  (59,234)
Financing activities:   
Taxes paid related to net share settlement of equity awards (3,971)  (3,253)
Proceeds from borrowings 300,000    
Debt issuance cost (7,563)   
Payments on assumed debt (6,410)   
Purchase and retirement of treasury stock (6,000)  (9,009)
Payments of finance leases (450)  (386)
Net cash provided by (used in) financing activities 275,606   (12,648)
Effect of exchange rate changes on cash and cash equivalents and restricted cash (26)  (108)
Net increase in cash, cash equivalents and restricted cash 307,270   (1,726)
Cash and cash equivalents and restricted cash at beginning of period 179,807   228,968 
Cash and cash equivalents and restricted cash at end of period$487,077  $227,242 
    

                                                                                                                                        

EZCORP, Inc.
OPERATING SEGMENT RESULTS
 
 Three Months Ended June 30, 2025
(Unaudited)
(in thousands)U.S. Pawn Latin America Pawn Other Investments Total Segments Corporate Items Consolidated
            
Revenues:           
Merchandise sales$112,249 $56,375  $  $168,624  $  $168,624 
Jewelry scrapping sales 23,750  3,220      26,970      26,970 
Pawn service charges 83,930  31,409      115,339      115,339 
Other revenues 31  17      48      48 
Total revenues 219,960  91,021      310,981      310,981 
Merchandise cost of goods sold 69,084  39,142      108,226      108,226 
Jewelry scrapping cost of goods sold 16,814  2,302      19,116      19,116 
Gross profit 134,062  49,577      183,639      183,639 
Segment and corporate expenses (income):           
Store expenses 83,778  35,345      119,123      119,123 
General and administrative            21,780   21,780 
Depreciation and amortization 2,651  2,156      4,807   3,196   8,003 
Other operating income            (1,262)  (1,262)
Interest expense   71      71   8,387   8,458 
Interest income   (427)  (604)  (1,031)  (4,409)  (5,440)
Equity in net (income) loss of unconsolidated affiliates      (1,409)  (1,409)  209   (1,200)
Other expense (income)   (12)     (12)  (524)  (536)
Segment contribution$47,633 $12,444  $2,013  $62,090     
Income (loss) before income taxes      $62,090  $(27,377) $34,713 
                  

        

 Three Months Ended June 30, 2024
(Unaudited)
(in thousands)U.S. Pawn Latin America Pawn Other Investments Total Segments Corporate Items Consolidated
            
Revenues:           
Merchandise sales$107,849  $50,291  $  $158,140  $  $158,140 
Jewelry scrapping sales 13,757   1,638      15,395      15,395 
Pawn service charges 77,416   30,414      107,830      107,830 
Other revenues 28   28      56      56 
Total revenues 199,050   82,371      281,421      281,421 
Merchandise cost of goods sold 67,229   33,982      101,211      101,211 
Jewelry scrapping cost of goods sold 11,887   1,596      13,483      13,483 
Gross profit 119,934   46,793      166,727      166,727 
Segment and corporate expenses (income):           
Store expenses 81,441   34,894      116,335      116,335 
General and administrative             20,060   20,060 
Depreciation and amortization 2,408   2,090      4,498   3,660   8,158 
(Gain) loss on sale or disposal of assets and other (2)  22      20      20 
Interest expense             3,539   3,539 
Interest income    (370)  (605)  (975)  (1,956)  (2,931)
Equity in net (income) loss of unconsolidated affiliates       (1,406)  (1,406)  143   (1,263)
Other (income) expense    (184)  12   (172)  (19)  (191)
Segment contribution$36,087  $10,341  $1,999  $48,427     
Income (loss) before income taxes      $48,427  $(25,427) $23,000 
                  

 Nine Months Ended June 30, 2025
(Unaudited)
(in thousands)U.S. Pawn Latin America Pawn Other Investments Total Segments Corporate Items Consolidated
            
Revenues:           
Merchandise sales$357,964  $166,470  $  $524,434  $  $524,434 
Jewelry scrapping sales 56,146   8,494      64,640      64,640 
Pawn service charges 259,354   88,908      348,262      348,262 
Other revenues 82   49      131      131 
Total revenues 673,546   263,921      937,467      937,467 
Merchandise cost of goods sold 225,412   116,193      341,605      341,605 
Jewelry scrapping cost of goods sold 42,017   6,350      48,367      48,367 
Gross profit 406,117   141,378      547,495      547,495 
Segment and corporate expenses (income):           
Store expenses 250,399   101,702      352,101      352,101 
General and administrative             60,089   60,089 
Depreciation and amortization 8,050   6,191      14,241   10,117   24,358 
Loss on sale or disposal of assets and other 17   8      25      25 
Other operating income             (1,262)  (1,262)
Interest expense    71      71   14,815   14,886 
Interest income    (966)  (1,803)  (2,769)  (6,639)  (9,408)
Equity in net (income) loss of unconsolidated affiliates       (4,898)  (4,898)  718   (4,180)
Other expense (income) (7)  (220)     (227)  604   377 
Segment contribution 147,658   34,592  $6,701  $188,951     
Income (loss) before income taxes      $188,951  $(78,442) $110,509 
                  

 Nine Months Ended June 30, 2024
(Unaudited)
(in thousands)U.S. Pawn Latin America Pawn Other Investments Total Segments Corporate Items Consolidated
            
Revenues:           
Merchandise sales$348,211  $154,019  $  $502,230  $  $502,230 
Jewelry scrapping sales 39,258   3,933      43,191      43,191 
Pawn service charges 236,499   84,943      321,442      321,442 
Other revenues 94   59   35   188      188 
Total revenues 624,062   242,954   35   867,051      867,051 
Merchandise cost of goods sold 218,736   103,944      322,680      322,680 
Jewelry scrapping cost of goods sold 33,965   3,514      37,479      37,479 
Gross profit 371,361   135,496   35   506,892      506,892 
Segment and corporate expenses (income):           
Store expenses 239,536   101,936      341,472      341,472 
General and administrative             54,869   54,869 
Depreciation and amortization 7,548   6,821      14,369   10,573   24,942 
(Gain) loss on sale or disposal of assets and other (6)  (240)     (246)  97   (149)
Other operating income             (765)  (765)
Interest expense             10,381   10,381 
Interest income    (1,398)  (1,811)  (3,209)  (5,243)  (8,452)
Equity in net (income) loss of unconsolidated affiliates       (4,278)  (4,278)  143   (4,135)
Other (income) expense    (231)  27   (204)  (423)  (627)
Segment contribution$124,283  $28,608  $6,097  $158,988     
Income (loss) before income taxes      $158,988  $(69,632) $89,356 
                  

EZCORP, Inc.
STORE COUNT ACTIVITY
(Unaudited)
 
 Three Months Ended June 30, 2025
 U.S. Pawn Latin America Pawn Consolidated
      
As of March 31, 2025542 742  1,284 
New locations opened 10  10 
Locations acquired3 40  43 
Locations combined or closed (1) (1)
As of June 30, 2025545 791  1,336 
        

 Three Months Ended June 30, 2024
 U.S. Pawn Latin America Pawn Consolidated
      
As of March 31, 2024535 711 1,246
New locations opened1 6 7
Locations acquired5  5
As of June 30, 2024541 717 1,258
      

 Nine Months Ended June 30, 2025
 U.S. Pawn Latin America Pawn Consolidated
      
As of September 30, 2024542 737  1,279 
New locations opened 23  23 
Locations acquired3 41  44 
Locations combined or closed (10) (10)
As of June 30, 2025545 791  1,336 
        

 Nine Months Ended June 30, 2024
 U.S. Pawn Latin America Pawn Consolidated
      
As of September 30, 2023529  702  1,231 
New locations opened1  20  21 
Locations acquired12    12 
Locations combined or closed(1) (5) (6)
As of June 30, 2024541  717  1,258 
         

Non-GAAP Financial Information (Unaudited)

In addition to the financial information prepared in conformity with accounting U.S. generally accepted accounting principles (“GAAP”), we provide certain other non-GAAP financial information on a constant currency (“constant currency”) and adjusted basis. We use constant currency results to evaluate our Latin America Pawn operations, which are denominated primarily in Mexican pesos, Guatemalan quetzales and other Latin American currencies. We believe that presentation of constant currency and adjusted results is meaningful and useful in understanding the activities and business metrics of our operations and reflects an additional way of viewing aspects of our business that, when viewed with GAAP results, provides a more complete understanding of factors and trends affecting our business. We provide non-GAAP financial information for informational purposes and to enhance understanding of our GAAP consolidated financial statements. We use this non-GAAP financial information primarily to evaluate and compare operating results across accounting periods.

Readers should consider the information in addition to, but not instead of or superior to, our financial statements prepared in accordance with GAAP. This non-GAAP financial information may be determined or calculated differently by other companies, limiting the usefulness of those measures for comparative purposes.

Constant currency results reported herein are calculated by translating consolidated balance sheet and consolidated statement of operations items denominated in local currency to U.S. dollars using the exchange rate from the prior-year comparable period, as opposed to the current period, in order to exclude the effects of foreign currency rate fluctuations. In addition, we have an equity method investment that is denominated in Australian dollars and is translated into U.S. dollars. We used the end-of-period rate for balance sheet items and the average closing daily exchange rate on a monthly basis during the appropriate period for statement of operations items. The end-of-period and approximate average exchange rates for each applicable currency as compared to U.S. dollars as of and for the three and nine months ended June 30, 2025 and 2024 were as follows:

  June 30, Three Months Ended
June 30,
 Nine Months Ended
June 30,
  2025 2024 2025 2024 2025 2024
             
Mexican peso 18.8 18.3 19.5 17.2 20.0 17.3
Guatemalan quetzal 7.6 7.6 7.6 7.6 7.6 7.6
Honduran lempira 25.8 24.3 25.7 24.3 25.2 24.3
Australian dollar 1.5 1.5 1.6 1.5 1.6 1.5
             

Our statement of operations constant currency results reflect the monthly exchange rate fluctuations and so are not directly calculable from the above rates. Constant currency results, where presented, also exclude the foreign currency gain or loss.

Miscellaneous Non-GAAP Financial Measures

 Three Months Ended
June 30,
(in millions) 2025   2024 
    
Net income$26.5  $18.0 
Interest expense 8.5   3.5 
Interest income (5.4)  (2.9)
Income tax expense 8.2   5.0 
Depreciation and amortization 8.0   8.2 
EBITDA$45.7  $31.8 
        

        

 Total Revenues Gross Profit Income Before Tax Tax Effect Net Income Diluted EPS  EBITDA
              
2025 Q3 Reported$311.0 $183.6 $34.7  $8.2  $26.5  $0.34  $45.7 
Corporate lease termination     (1.3)  (0.3)  (1.0)  (0.01)  (1.3)
FX impact     (0.2)     (0.2)     (0.2)
Non-recurring foreign tax expense        0.8   (0.8)  (0.01)   
Constant Currency 8.9  4.8  0.8   0.1   0.7   0.01   1.0 
2025 Q3 Adjusted$319.9 $188.4 $34.0  $8.8  $25.2  $0.33  $45.2 

 Total Revenues Gross Profit Income Before Tax Tax Effect Net Income Diluted EPS  EBITDA
              
2024 Q3 Reported$281.4 $166.7 $23.0  $5.0 $18.0  $0.25  $31.8 
Non-recurring foreign tax expense        0.7  (0.7)  (0.01)   
FX impact     (0.1)    (0.1)     (0.1)
2024 Q3 Adjusted$281.4 $166.7 $22.9  $5.7 $17.2  $0.24  $31.7 
                         

 Three Months Ended
June 30, 2025
 Nine Months Ended
June 30, 2025
(in millions)U.S. Dollar Amount Percentage Change YOY U.S. Dollar Amount Percentage Change YOY
        
Consolidated revenues$311.0 11% $937.5 8%
Currency exchange rate fluctuations 8.9    30.9  
Constant currency consolidated revenues$319.9 14% $968.4 12%
        
Consolidated gross profit$183.6 10% $547.5 8%
Currency exchange rate fluctuations 4.8    16.1  
Constant currency consolidated gross profit$188.4 13% $563.6 11%
        
Consolidated net inventory$225.5 31% $225.5 31%
Currency exchange rate fluctuations 1.3    1.3  
Constant currency consolidated net inventory$226.8 32% $226.8 32%
        
Latin America Pawn gross profit$49.6 6% $141.4 4%
Currency exchange rate fluctuations 4.8    16.1  
Constant currency Latin America Pawn gross profit$54.4 16% $157.5 16%
        
Latin America Pawn PLO$70.6 13% $70.6 13%
Currency exchange rate fluctuations 1.5    1.5  
Constant currency Latin America Pawn PLO$72.1 16% $72.1 16%
        
Latin America Pawn PSC revenues$31.4 3% $88.9 5%
Currency exchange rate fluctuations 2.9    9.6  
Constant currency Latin America Pawn PSC revenues$34.3 13% $98.5 16%
        
Latin America Pawn merchandise sales$56.4 12% $166.5 8%
Currency exchange rate fluctuations 5.7    20.2  
Constant currency Latin America Pawn merchandise sales$62.1 23% $186.7 21%
        
Latin America Pawn segment profit before tax$12.4 20% $34.6 21%
Currency exchange rate fluctuations 1.1    3.0  
Constant currency Latin America Pawn segment profit before tax$13.5 30% $37.6 32%

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