Prog Holdings, Inc. ( (PRG) ) has released its Q1 earnings. Here is a breakdown of the information Prog Holdings, Inc. presented to its investors.
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PROG Holdings, Inc. is a fintech holding company based in Salt Lake City, Utah, offering a range of financial services through its subsidiaries, including Progressive Leasing, Vive Financial, Four Technologies, and Build. The company specializes in providing lease-to-own solutions, revolving credit products, and Buy Now, Pay Later options.
In its first-quarter 2025 earnings report, PROG Holdings announced consolidated revenues of $684.1 million, marking a 6.6% increase from the previous year. The company reported net earnings of $34.7 million and an adjusted EBITDA of $70.3 million. Despite facing challenges such as the loss of a major retail partner, the company achieved higher-than-expected earnings per share, reflecting strong business execution.
Key financial highlights include a diluted EPS of $0.83 and a non-GAAP diluted EPS of $0.90. Progressive Leasing’s GMV was $402.0 million, while Four Technologies experienced a significant GMV growth of 145.7%, achieving positive adjusted EBITDA for the quarter. The company also repurchased $26.1 million of its stock and paid a quarterly dividend of $0.13 per share.
Looking ahead, PROG Holdings has revised its 2025 outlook due to a challenging macroeconomic environment, projecting total revenues between $2.425 billion and $2.5 billion. The company remains focused on executing its strategic initiatives and maintaining strong profitability and cash flows, despite the economic uncertainties.