PROG Holdings, Inc. Earnings Recaps
Q1 2026
Apr 30, 2026
PROG Holdings shares surged 24.1% after the company posted Q1 results that surpassed the high end of its outlook for revenue, adjusted EBITDA, and non-GAAP EPS. The upside was fueled by stronger-than-expected consolidated GMV growth, especially at Four, as well as improved profitability and payment performance across the portfolio.
Key takeaways
- Consolidated GMV jumped 54% year-over-year, driven by the addition of Purchasing Power and triple-digit growth (+134% YoY) at Four.
- Revenue grew 11% year-over-year to $743 million, powered by new clients at Purchasing Power and improving trends at Four.
- Adjusted EBITDA reached $90.3 million, and non-GAAP EPS was $1.24, both exceeding the upper end of management's outlook for the quarter.
- Progressive Leasing's GMV declined 2.2% YoY, but trends improved sequentially, turning positive in March as headwinds from 2025 faded.
- Management acknowledged a challenging macro backdrop, but highlighted resilient consumer demand and ongoing efforts to manage costs and deliver earnings as guided.
Q3 2025
Oct 22, 2025
PROG Holdings reported a strong third quarter, exceeding revenue and earnings expectations driven by robust demand in its BNPL segment, despite challenges in its leasing business.
Key takeaways
- Non-GAAP EPS reached $0.90, surpassing guidance of $0.70 to $0.75, marking the company's third consecutive earnings beat.
- Consolidated revenue totaled $590.1 million, impacted by the Big Lots bankruptcy but bolstered by impressive triple-digit growth from four Technologies.
- Portfolio write-offs improved to 7.4%, remaining within the target range, indicating effective risk management amidst inflationary pressures.
- The sale of the Vive Financial portfolio to Atlantica Holdings strengthens the balance sheet and enhances capital efficiency for future investments.