goeasy Ltd. Earnings Recaps
Q1 2026
May 16, 2026
Shares fell 8.0% following the report as elevated charge-offs in the merchant-originated LendCare segment and weaker loan originations drove margin pressures and raised caution about near-term growth prospects.
Key takeaways
- Gross consumer loans receivable contracted by $150 million (2.7%) quarter-over-quarter due to reduced originations and elevated net charge-offs.
- Total net charge-off rate increased to 17.8%, up year-over-year, with LendCare experiencing significant losses weighing on earnings.
- Delinquencies rose 30 basis points year-over-year to 12.3%, driven by more loans 1–30 days past due despite improvement in loans over 30 days past due.
- LendCare’s loan portfolio shrank to 41.3% of total, down from 43.4% last quarter, reflecting tighter underwriting and restraint in underperforming merchant channels.
- Adjusted diluted EPS came in negative at $1.90, highlighting margin compression amidst credit challenges and cautious positioning on originations.
Q3 2025
Nov 6, 2025
goeasy Limited delivered strong results in Q3 2025, marked by a record revenue of $440 million and continued organic loan growth, despite facing macroeconomic challenges.
Key takeaways
- Achieved organic loan book growth of $336 million, with total receivables reaching $5.44 billion.
- Record quarterly revenue increased by 15% year-over-year, driven by robust loan originations of $946 million.
- Maintained a resilient portfolio yield of 31.4% amid a strategic shift towards secured loans.
- Net charge-off rate improved to 8.9%, while the allowance for credit losses rose to 8.1% due to early-stage delinquencies.
- Successfully launched a senior unsecured notes offering, raising CAD 796 million to enhance liquidity for growth initiatives.