v3.25.2
Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company organizes its operations into three reportable segments as follows:

•U.S. pawn
•Latin America pawn
•Retail POS payment solutions (American First Finance “AFF”)

Corporate expenses and income, which include administrative expenses, corporate depreciation and amortization, interest expense, interest income, (gain) loss on foreign exchange, merger and acquisition expenses, and other income, net, are presented on a consolidated basis and are not allocated between the U.S. pawn segment, Latin America pawn segment or retail POS payment solutions segment. Intersegment transactions relate to the Company offering AFF’s LTO payment solution in its U.S. pawn stores and are eliminated to arrive at consolidated totals.

The following tables present reportable segment information for the three and six month periods ended June 30, 2025 and 2024 as well as certain segment assets (in thousands):

Three Months Ended June 30, 2025
 U.S.
Pawn		Latin America
Pawn		Retail POS
Payment
Solutions		Corporate/
Eliminations		Consolidated
Revenue:   
Retail merchandise sales$249,918 $135,956 $— $(749)
(1)
$385,125 
Pawn loan fees130,948 59,874 — — 190,822 
Leased merchandise income— — 139,784 — 139,784 
Interest and fees on finance receivables— — 76,075 — 76,075 
Wholesale scrap jewelry sales28,740 10,076 — — 38,816 
Total revenue409,606 205,906 215,859 (749)830,622 
Cost of revenue:    
Cost of retail merchandise sold143,149 87,579 — (402)
(1)
230,326 
Depreciation of leased merchandise— — 78,529 (257)
(1)
78,272 
Provision for lease losses— — 32,667 (124)
(1)
32,543 
Provision for loan losses— — 41,761 — 41,761 
Cost of wholesale scrap jewelry sold26,265 8,639 — — 34,904 
Total cost of revenue169,414 96,218 152,957 (783)417,806 
Net revenue
240,192 109,688 62,902 34 412,816 
Expenses and other income:    
Operating expenses133,815 64,414 24,264 — 222,493 
Administrative expenses— — — 59,263 59,263 
Depreciation and amortization8,091 4,294 699 12,780 25,864 
Interest expense— — — 26,337 26,337 
Interest income— — — (527)(527)
Gain on foreign exchange
— — — (1,271)(1,271)
Merger and acquisition expenses— — — 2,777 2,777 
Other income, net
— — — (3,199)(3,199)
Total expenses and other income141,906 68,708 24,963 96,160 331,737 
Income (loss) before income taxes$98,286 $40,980 $37,939 $(96,126)$81,079 

(1)Represents the elimination of intersegment transactions related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores.
Six Months Ended June 30, 2025
U.S.
Pawn		Latin America
Pawn		Retail POS
Payment
Solutions		Corporate/
Eliminations		Consolidated
Revenue:   
Retail merchandise sales$501,143 $256,488 $— $(1,450)
(1)
$756,181 
Pawn loan fees268,896 113,797 — — 382,693 
Leased merchandise income— — 296,702 — 296,702 
Interest and fees on finance receivables— — 149,488 — 149,488 
Wholesale scrap jewelry sales62,232 19,749 — — 81,981 
Total revenue832,271 390,034 446,190 (1,450)1,667,045 
Cost of revenue:    
Cost of retail merchandise sold288,907 166,318 — (775)
(1)
454,450 
Depreciation of leased merchandise— — 167,672 (581)
(1)
167,091 
Provision for lease losses— — 60,271 (166)
(1)
60,105 
Provision for loan losses— — 78,121 — 78,121 
Cost of wholesale scrap jewelry sold53,489 16,770 — — 70,259 
Total cost of revenue342,396 183,088 306,064 (1,522)830,026 
Net revenue
489,875 206,946 140,126 72 837,019 
Expenses and other income:    
Operating expenses262,766 125,831 48,482 — 437,079 
Administrative expenses— — — 107,786 107,786 
Depreciation and amortization15,691 8,730 1,404 25,541 51,366 
Interest expense— — — 53,808 53,808 
Interest income— — — (1,756)(1,756)
Gain on foreign exchange
— — — (1,285)(1,285)
Merger and acquisition expenses— — — 3,239 3,239 
Other income, net
— — — (5,514)(5,514)
Total expenses and other income278,457 134,561 49,886 181,819 644,723 
Income (loss) before income taxes$211,418 $72,385 $90,240 $(181,747)$192,296 

(1)Represents the elimination of intersegment transactions related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores.

As of June 30, 2025
U.S.
Pawn		Latin America
Pawn		Retail POS
Payment
Solutions		Corporate/
Eliminations		Consolidated
Pawn loans$400,143 $150,575 $— $— $550,718 
Finance receivables, net— — 154,518 — 154,518 
Inventories252,885 102,848 — — 355,733 
Leased merchandise, net— — 100,852 (163)
(1)
100,689 
Goodwill1,154,790 185,189 486,205 — 1,826,184 
Total assets2,746,362 722,882 901,034 143,971 4,514,249 

(1)Represents the elimination of intersegment transactions related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores.
Three Months Ended June 30, 2024
 U.S.
Pawn		Latin America
Pawn		Retail POS
Payment
Solutions		Corporate/
Eliminations		Consolidated
Revenue:   
Retail merchandise sales$230,093 $134,445 $— $(1,075)
(1)
$363,463 
Pawn loan fees120,332 60,714 — — 181,046 
Leased merchandise income— — 194,570 — 194,570 
Interest and fees on finance receivables— — 56,799 — 56,799 
Wholesale scrap jewelry sales26,311 8,823 — — 35,134 
Total revenue376,736 203,982 251,369 (1,075)831,012 
Cost of revenue:    
Cost of retail merchandise sold132,449 86,276 — (578)
(1)
218,147 
Depreciation of leased merchandise— — 110,567 (410)
(1)
110,157 
Provision for lease losses— — 47,824 (171)
(1)
47,653 
Provision for loan losses— — 31,116 — 31,116 
Cost of wholesale scrap jewelry sold21,269 7,273 — — 28,542 
Total cost of revenue153,718 93,549 189,507 (1,159)435,615 
Net revenue
223,018 110,433 61,862 84 395,397 
Expenses and other income:    
Operating expenses125,192 67,902 35,275 — 228,369 
Administrative expenses— — — 46,602 46,602 
Depreciation and amortization7,231 5,418 678 13,220 26,547 
Interest expense— — — 25,187 25,187 
Interest income— — — (261)(261)
Loss on foreign exchange
— — — 1,437 1,437 
Merger and acquisition expenses— — — 1,364 1,364 
Other income, net
— — — (26)(26)
Total expenses and other income132,423 73,320 35,953 87,523 329,219 
Income (loss) before income taxes
$90,595 $37,113 $25,909 $(87,439)$66,178 

(1)Represents the elimination of intersegment transactions related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores.
Six Months Ended June 30, 2024
U.S.
Pawn		Latin America
Pawn		Retail POS
Payment
Solutions		Corporate/
Eliminations		Consolidated
Revenue:   
Retail merchandise sales$467,083 $265,294 $— $(2,093)
(1)
$730,284 
Pawn loan fees243,306 117,275 — — 360,581 
Leased merchandise income— — 400,241 — 400,241 
Interest and fees on finance receivables— — 114,186 — 114,186 
Wholesale scrap jewelry sales44,037 18,053 — — 62,090 
Total revenue754,426 400,622 514,427 (2,093)1,667,382 
Cost of revenue:    
Cost of retail merchandise sold272,363 170,459 — (1,146)
(1)
441,676 
Depreciation of leased merchandise— — 231,341 (900)
(1)
230,441 
Provision for lease losses— — 91,004 (341)
(1)
90,663 
Provision for loan losses— — 61,534 — 61,534 
Cost of wholesale scrap jewelry sold36,535 15,296 — — 51,831 
Total cost of revenue308,898 185,755 383,879 (2,387)876,145 
Net revenue
445,528 214,867 130,548 294 791,237 
Expenses and other income:    
Operating expenses244,087 135,327 70,091 — 449,505 
Administrative expenses— — — 90,620 90,620 
Depreciation and amortization14,244 10,523 1,399 26,408 52,574 
Interest expense— — — 50,605 50,605 
Interest income— — — (1,004)(1,004)
Loss on foreign exchange
— — — 1,251 1,251 
Merger and acquisition expenses— — — 1,961 1,961 
Other income, net
— — — (2,338)(2,338)
Total expenses and other income258,331 145,850 71,490 167,503 643,174 
Income (loss) before income taxes$187,197 $69,017 $59,058 $(167,209)$148,063 

(1)Represents the elimination of intersegment transactions related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores.

As of June 30, 2024
U.S.
Pawn		Latin America
Pawn		Retail POS
Payment
Solutions		Corporate/
Eliminations		Consolidated
Pawn loans$356,342$135,389$—$—$491,731
Finance receivables, net——105,401—105,401
Inventories223,42891,996——315,424
Leased merchandise, net——143,156(221)
(1)
142,935
Goodwill1,122,465 186,287 486,205 — 1,794,957 
Total assets2,550,290 677,107 957,028 137,983 4,322,408 

(1)Represents the elimination of intersegment transactions related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores.