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v3.25.1

Segment Information | 3 Months Ended
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Mar. 31, 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 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 month period ended March 31, 2025 and 2024 as well as certain segment assets (in thousands):
|  | Three Months Ended March 31, 2025
|  | U.S. Pawn |  | Latin America Pawn |  | Retail POS Payment Solutions |  | Corporate/ Eliminations |  | Consolidated
Revenue: |  |  |  |  |  |  |  |  |  |
Retail merchandise sales |  | $ | 251,225 |  |  | $ | 120,532 |  |  | $ | — |  |  | $ | (701) |  | (1) | $ | 371,056 |
Pawn loan fees |  | 137,948 |  |  | 53,923 |  |  | — |  |  | — |  |  | 191,871 |
Leased merchandise income |  | — |  |  | — |  |  | 156,918 |  |  | — |  |  | 156,918 |
Interest and fees on finance receivables |  | — |  |  | — |  |  | 73,413 |  |  | — |  |  | 73,413 |
Wholesale scrap jewelry sales |  | 33,492 |  |  | 9,673 |  |  | — |  |  | — |  |  | 43,165 |
Total revenue |  | 422,665 |  |  | 184,128 |  |  | 230,331 |  |  | (701) |  |  | 836,423 |
Cost of revenue: |  |  |  |  |  |  |  |  |  |
Cost of retail merchandise sold |  | 145,758 |  |  | 78,739 |  |  | — |  |  | (373) |  | (1) | 224,124 |
Depreciation of leased merchandise |  | — |  |  | — |  |  | 89,143 |  |  | (324) |  | (1) | 88,819 |
Provision for lease losses |  | — |  |  | — |  |  | 27,604 |  |  | (42) |  | (1) | 27,562 |
Provision for loan losses |  | — |  |  | — |  |  | 36,360 |  |  | — |  |  | 36,360 |
Cost of wholesale scrap jewelry sold |  | 27,224 |  |  | 8,131 |  |  | — |  |  | — |  |  | 35,355 |
Total cost of revenue |  | 172,982 |  |  | 86,870 |  |  | 153,107 |  |  | (739) |  |  | 412,220 |
Net revenue |  | 249,683 |  |  | 97,258 |  |  | 77,224 |  |  | 38 |  |  | 424,203 |
Expenses and other income: |  |  |  |  |  |  |  |  |  |
Operating expenses |  | 128,951 |  |  | 61,417 |  |  | 24,218 |  |  | — |  |  | 214,586 |
Administrative expenses |  | — |  |  | — |  |  | — |  |  | 48,523 |  |  | 48,523 |
Depreciation and amortization |  | 7,600 |  |  | 4,436 |  |  | 705 |  |  | 12,761 |  |  | 25,502 |
Interest expense |  | — |  |  | — |  |  | — |  |  | 27,471 |  |  | 27,471 |
Interest income |  | — |  |  | — |  |  | — |  |  | (1,229) |  |  | (1,229) |
Gain on foreign exchange |  | — |  |  | — |  |  | — |  |  | (14) |  |  | (14) |
Merger and acquisition expenses |  | — |  |  | — |  |  | — |  |  | 462 |  |  | 462 |
Other income, net |  | — |  |  | — |  |  | — |  |  | (2,315) |  |  | (2,315) |
Total expenses and other income |  | 136,551 |  |  | 65,853 |  |  | 24,923 |  |  | 85,659 |  |  | 312,986 |
Income (loss) before income taxes |  | $ | 113,132 |  |  | $ | 31,405 |  |  | $ | 52,301 |  |  | $ | (85,621) |  |  | $ | 111,217 |
(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 March 31, 2025
|  | U.S. Pawn |  | Latin America Pawn |  | Retail POS Payment Solutions |  | Corporate/ Eliminations |  | Consolidated
Pawn loans |  | $ | 365,972 |  |  | $ | 133,738 |  |  | $ | — |  |  | $ | — |  |  | $ | 499,710 |
Finance receivables, net |  | — |  |  | — |  |  | 145,079 |  |  | — |  |  | 145,079 |
Inventories |  | 246,237 |  |  | 88,463 |  |  | — |  |  | — |  |  | 334,700 |
Leased merchandise, net |  | — |  |  | — |  |  | 103,809 |  |  | (197) |  | (1) | 103,612 |
Goodwill |  | 1,153,513 |  |  | 175,421 |  |  | 486,205 |  |  | — |  |  | 1,815,139 |
Total assets |  | 2,681,376 |  |  | 659,716 |  |  | 911,261 |  |  | 173,924 |  |  | 4,426,277 |
(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 March 31, 2024
|  | U.S. Pawn |  | Latin America Pawn |  | Retail POS Payment Solutions |  | Corporate/ Eliminations |  | Consolidated
Revenue: |  |  |  |  |  |  |  |  |  |
Retail merchandise sales |  | $ | 236,990 |  |  | $ | 130,849 |  |  | $ | — |  |  | $ | (1,018) |  | (1) | $ | 366,821 |
Pawn loan fees |  | 122,974 |  |  | 56,561 |  |  | — |  |  | — |  |  | 179,535 |
Leased merchandise income |  | — |  |  | — |  |  | 205,671 |  |  | — |  |  | 205,671 |
Interest and fees on finance receivables |  | — |  |  | — |  |  | 57,387 |  |  | — |  |  | 57,387 |
Wholesale scrap jewelry sales |  | 17,726 |  |  | 9,230 |  |  | — |  |  | — |  |  | 26,956 |
Total revenue |  | 377,690 |  |  | 196,640 |  |  | 263,058 |  |  | (1,018) |  |  | 836,370 |
Cost of revenue: |  |  |  |  |  |  |  |  |  |
Cost of retail merchandise sold |  | 139,914 |  |  | 84,183 |  |  | — |  |  | (568) |  | (1) | 223,529 |
Depreciation of leased merchandise |  | — |  |  | — |  |  | 120,774 |  |  | (490) |  | (1) | 120,284 |
Provision for lease losses |  | — |  |  | — |  |  | 43,180 |  |  | (170) |  | (1) | 43,010 |
Provision for loan losses |  | — |  |  | — |  |  | 30,418 |  |  | — |  |  | 30,418 |
Cost of wholesale scrap jewelry sold |  | 15,266 |  |  | 8,023 |  |  | — |  |  | — |  |  | 23,289 |
Total cost of revenue |  | 155,180 |  |  | 92,206 |  |  | 194,372 |  |  | (1,228) |  |  | 440,530 |
Net revenue |  | 222,510 |  |  | 104,434 |  |  | 68,686 |  |  | 210 |  |  | 395,840 |
Expenses and other income: |  |  |  |  |  |  |  |  |  |
Operating expenses |  | 118,895 |  |  | 67,425 |  |  | 34,816 |  |  | — |  |  | 221,136 |
Administrative expenses |  | — |  |  | — |  |  | — |  |  | 44,018 |  |  | 44,018 |
Depreciation and amortization |  | 7,013 |  |  | 5,105 |  |  | 721 |  |  | 13,188 |  |  | 26,027 |
Interest expense |  | — |  |  | — |  |  | — |  |  | 25,418 |  |  | 25,418 |
Interest income |  | — |  |  | — |  |  | — |  |  | (743) |  |  | (743) |
Gain on foreign exchange |  | — |  |  | — |  |  | — |  |  | (186) |  |  | (186) |
Merger and acquisition expenses |  | — |  |  | — |  |  | — |  |  | 597 |  |  | 597 |
Other income, net |  | — |  |  | — |  |  | — |  |  | (2,312) |  |  | (2,312) |
Total expenses and other income |  | 125,908 |  |  | 72,530 |  |  | 35,537 |  |  | 79,980 |  |  | 313,955 |
Income (loss) before income taxes |  | $ | 96,602 |  |  | $ | 31,904 |  |  | $ | 33,149 |  |  | $ | (79,770) |  |  | $ | 81,885 |
(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 March 31, 2024
|  | U.S. Pawn |  | Latin America Pawn |  | Retail POS Payment Solutions |  | Corporate/ Eliminations |  | Consolidated
Pawn loans |  | $ | 315,792 |  | $ | 140,287 |  | $ | — |  | $ | — |  | $ | 456,079
Finance receivables, net |  | — |  | — |  | 105,653 |  | — |  | 105,653
Inventories |  | 216,762 |  | 85,623 |  | — |  | — |  | 302,385
Leased merchandise, net |  | — |  | — |  | 158,090 |  | (305) | (1) | 157,785
Goodwill |  | 1,043,583 |  |  | 200,565 |  |  | 486,205 |  |  | — |  |  | 1,730,353 |
Total assets |  | 2,391,699 |  |  | 703,046 |  |  | 983,803 |  |  | 168,904 |  |  | 4,247,452 |
(1)Represents the elimination of intersegment transactions related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores.

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