Propel Holdings Inc. Q3 2026 Earnings Recap

Propel rose 10.0% after earnings, with investors responding to record quarterly revenue and adjusted net income alongside 27% growth in originations. The company also reported stable net charge-offs and raised its quarterly dividend.

Key Takeaways

• Revenue increased 32% year over year to a record $201.5 million; adjusted net income rose 54% to a record $24.9 million.
• Originations funded grew 27% to a record $260.7 million, and ending CLAB increased 24% year over year to about $691 million.
• New customer originations rose 37%, or 55% including Lending-as-a-Service; new customers accounted for 47% of originations, versus 44% a year earlier.
• Net charge-offs stayed at approximately 12% of average CLAB, in line with the prior quarter and management’s seasonal expectations.
• Lending-as-a-Service revenue increased 170% to $13.5 million and UK revenue rose 69% to $22 million; the board approved a 6% dividend increase to C$0.27 per share.