Prog Holdings, Inc. ( (PRG) ) has released its Q3 earnings. Here is a breakdown of the information Prog Holdings, Inc. presented to its investors.
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PROG Holdings, Inc., a fintech holding company based in Salt Lake City, specializes in providing transparent and competitive payment options through its subsidiaries, including Progressive Leasing, Four Technologies, and Build. The company operates primarily in the financial technology sector, offering lease-to-own solutions and Buy Now, Pay Later (BNPL) services.
In its third-quarter 2025 earnings report, PROG Holdings announced consolidated revenues of $595.1 million and net earnings of $33.1 million. The company reported an adjusted EBITDA of $67.0 million and a diluted EPS of $0.82, with a non-GAAP diluted EPS of $0.90. Despite a slight decline in revenues compared to the previous year, the company highlighted strong performance in its Progressive Leasing segment and significant growth in Four Technologies.
Key financial metrics showed a decrease in consolidated revenues by 1.8% year-over-year, while net earnings were significantly lower due to a non-cash net tax benefit in the previous year. Progressive Leasing’s GMV decreased by 10%, but Four Technologies experienced a remarkable 162.8% growth in GMV. The company’s liquidity position remains strong, with $292.6 million in cash and $600 million in gross debt.
The company has made strategic moves, including the sale of Vive Financial, to improve capital efficiency and focus on core growth areas. PROG Holdings is committed to its three-pillar strategy of growth, enhancement, and expansion, investing in high-impact businesses and maintaining financial flexibility to support future growth.
Looking ahead, PROG Holdings is poised to continue its growth trajectory into 2026, supported by a robust product portfolio and ongoing investments in customer experience. The management remains optimistic about delivering sustainable growth despite anticipated economic challenges.