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Leases | 9 Months Ended
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Jun. 30, 2025
Leases [Abstract] |
Leases | NOTE 5: LEASES We determine if a contract contains a lease at inception. Our lease portfolio consists primarily of operating leases for pawn store locations and corporate offices with lease terms ranging from three to ten years and finance leases for vehicles with lease terms ranging from two to five years. The table below presents balances of our lease assets and liabilities and their balance sheet locations for both operating and financing leases:
(in thousands) | Balance Sheet Location |  | June 30, 2025 |  | June 30, 2024 |  | September 30, 2024 |  |
Lease assets: |  |  |  |  |  |  |  |  |
Operating lease right-of-use assets | Right-of-use assets, net |  | $ | 236,064 |  |  | $ | 235,030 |  |  | $ | 226,602 |  |  |
Financing lease assets | Other assets, net |  | 1,210 |  |  | 1,832 |  |  | 1,559 |  |  |
Total lease assets |  |  | $ | 237,274 |  |  | $ | 236,862 |  |  | $ | 228,161 |  |  |
Lease liabilities: |  |  |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |  |  |
Operating lease liabilities | Operating lease liabilities, current |  | $ | 60,183 |  |  | $ | 58,905 |  |  | $ | 58,998 |  |  |
Financing lease liabilities | Accounts payable, accrued expenses and other current liabilities |  | 657 |  |  | 596 |  |  | 570 |  |  |
Total current lease liabilities |  |  | $ | 60,840 |  |  | $ | 59,501 |  |  | $ | 59,568 |  |  |
Non-current: |  |  |  |  |  |  |  |  |
Operating lease liabilities | Operating lease liabilities |  | $ | 184,295 |  |  | $ | 188,996 |  |  | $ | 180,616 |  |  |
Financing lease liabilities | Other long-term liabilities |  | 695 |  |  | 1,352 |  |  | 1,110 |  |  |
Total non-current lease liabilities |  |  | $ | 184,990 |  |  | $ | 190,348 |  |  | $ | 181,726 |  |  |
Total lease liabilities |  |  | $ | 245,830 |  |  | $ | 249,849 |  |  | $ | 241,294 |  |  |
The table below provides major components of our lease costs:
|  |  | Three Months Ended June 30, |  | Nine Months Ended June 30,
(in thousands) |  |  |  |  | 2025 |  | 2024 |  | 2025 |  | 2024
Operating lease cost: |  |  |  |  |  |  |  |  |  |  |
Operating lease cost* |  |  |  |  | $ | 19,742 |  |  | $ | 20,406 |  |  | $ | 57,955 |  |  | $ | 59,312 |
Variable lease cost |  |  |  |  | 5,770 |  |  | 4,318 |  |  | 14,822 |  |  | 13,176 |
Total operating lease cost |  |  |  |  | $ | 25,512 |  |  | $ | 24,724 |  |  | $ | 72,777 |  |  | $ | 72,488 |
Financing lease cost: |  |  |  |  |  |  |  |  |  |  |
Amortization of financing lease assets |  |  |  |  | $ | 153 |  |  | $ | 140 |  |  | $ | 435 |  |  | $ | 455 |
Interest on financing lease liabilities |  |  |  |  | 40 |  |  | 49 |  |  | 125 |  |  | 177 |
Total financing lease cost |  |  |  |  | $ | 193 |  |  | $ | 189 |  |  | $ | 560 |  |  | $ | 632 |
Total lease cost |  |  |  |  | $ | 25,705 |  |  | $ | 24,913 |  |  | $ | 73,337 |  |  | $ | 73,120 |
*Includes a reduction for sublease rental income of $0.7 million and $0.7 million for both the three months ended June 30, 2025 and 2024, respectively, and $2.0 million and $2.4 million for the nine months ended June 30, 2025 and 2024 respectively. Lease expense is recognized on a straight-line basis over the lease term with variable lease expense recognized in the period in which the costs are incurred. The components of lease expense are included in “Store expenses” and “General and administrative” under operating expenses, based on the underlying lease use. Cash paid for operating leases was $20.3 million and $15.9 million for the three months ended June 30, 2025 and 2024, respectively, and $60.3 million and $60.5 million for the nine months ended June 30, 2025 and 2024, respectively. The weighted-average term and discount rates for leases are as follows:
| Nine Months Ended June 30,
| 2025 |  | 2024
Weighted-average remaining lease term (years): |  |  |
Operating leases | 5.00 |  | 4.88
Financing leases | 2.08 |  | 3.01
Weighted-average discount rate: |  |  |
Operating leases | 8.77 | % |  | 8.33 | %
Financing leases | 11.14 | % |  | 11.14 | %
As of June 30, 2025, maturities of lease liabilities under ASC 842 by fiscal year were as follows:
(in thousands) | Operating Leases |  | Financing Leases
Remaining 2025 | $ | 19,813 |  |  | $ | 194 |
Fiscal 2026 | 76,814 |  |  | 771 |
Fiscal 2027 | 62,927 |  |  | 497 |
Fiscal 2028 | 46,718 |  |  | 52 |
Fiscal 2029 | 32,926 |  |  | 6 |
Thereafter | 66,958 |  |  | — |
Total lease liabilities | $ | 306,156 |  |  | $ | 1,520 |
Less: portion representing imputed interest | 61,678 |  |  | 168 |
Total net lease liabilities | $ | 244,478 |  |  | $ | 1,352 |
Less: current portion | 60,183 |  |  | 657 |
Total long-term net lease liabilities | $ | 184,295 |  |  | $ | 695 |
We recorded $51.2 million and $46.1 million in non-cash additions to our operating right-of-use assets and lease liabilities for the nine months ended June 30, 2025 and 2024, respectively.
Leases | NOTE 5: LEASES We determine if a contract contains a lease at inception. Our lease portfolio consists primarily of operating leases for pawn store locations and corporate offices with lease terms ranging from three to ten years and finance leases for vehicles with lease terms ranging from two to five years. The table below presents balances of our lease assets and liabilities and their balance sheet locations for both operating and financing leases:
(in thousands) | Balance Sheet Location |  | June 30, 2025 |  | June 30, 2024 |  | September 30, 2024 |  |
Lease assets: |  |  |  |  |  |  |  |  |
Operating lease right-of-use assets | Right-of-use assets, net |  | $ | 236,064 |  |  | $ | 235,030 |  |  | $ | 226,602 |  |  |
Financing lease assets | Other assets, net |  | 1,210 |  |  | 1,832 |  |  | 1,559 |  |  |
Total lease assets |  |  | $ | 237,274 |  |  | $ | 236,862 |  |  | $ | 228,161 |  |  |
Lease liabilities: |  |  |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |  |  |
Operating lease liabilities | Operating lease liabilities, current |  | $ | 60,183 |  |  | $ | 58,905 |  |  | $ | 58,998 |  |  |
Financing lease liabilities | Accounts payable, accrued expenses and other current liabilities |  | 657 |  |  | 596 |  |  | 570 |  |  |
Total current lease liabilities |  |  | $ | 60,840 |  |  | $ | 59,501 |  |  | $ | 59,568 |  |  |
Non-current: |  |  |  |  |  |  |  |  |
Operating lease liabilities | Operating lease liabilities |  | $ | 184,295 |  |  | $ | 188,996 |  |  | $ | 180,616 |  |  |
Financing lease liabilities | Other long-term liabilities |  | 695 |  |  | 1,352 |  |  | 1,110 |  |  |
Total non-current lease liabilities |  |  | $ | 184,990 |  |  | $ | 190,348 |  |  | $ | 181,726 |  |  |
Total lease liabilities |  |  | $ | 245,830 |  |  | $ | 249,849 |  |  | $ | 241,294 |  |  |
The table below provides major components of our lease costs:
|  |  | Three Months Ended June 30, |  | Nine Months Ended June 30,
(in thousands) |  |  |  |  | 2025 |  | 2024 |  | 2025 |  | 2024
Operating lease cost: |  |  |  |  |  |  |  |  |  |  |
Operating lease cost* |  |  |  |  | $ | 19,742 |  |  | $ | 20,406 |  |  | $ | 57,955 |  |  | $ | 59,312 |
Variable lease cost |  |  |  |  | 5,770 |  |  | 4,318 |  |  | 14,822 |  |  | 13,176 |
Total operating lease cost |  |  |  |  | $ | 25,512 |  |  | $ | 24,724 |  |  | $ | 72,777 |  |  | $ | 72,488 |
Financing lease cost: |  |  |  |  |  |  |  |  |  |  |
Amortization of financing lease assets |  |  |  |  | $ | 153 |  |  | $ | 140 |  |  | $ | 435 |  |  | $ | 455 |
Interest on financing lease liabilities |  |  |  |  | 40 |  |  | 49 |  |  | 125 |  |  | 177 |
Total financing lease cost |  |  |  |  | $ | 193 |  |  | $ | 189 |  |  | $ | 560 |  |  | $ | 632 |
Total lease cost |  |  |  |  | $ | 25,705 |  |  | $ | 24,913 |  |  | $ | 73,337 |  |  | $ | 73,120 |
*Includes a reduction for sublease rental income of $0.7 million and $0.7 million for both the three months ended June 30, 2025 and 2024, respectively, and $2.0 million and $2.4 million for the nine months ended June 30, 2025 and 2024 respectively. Lease expense is recognized on a straight-line basis over the lease term with variable lease expense recognized in the period in which the costs are incurred. The components of lease expense are included in “Store expenses” and “General and administrative” under operating expenses, based on the underlying lease use. Cash paid for operating leases was $20.3 million and $15.9 million for the three months ended June 30, 2025 and 2024, respectively, and $60.3 million and $60.5 million for the nine months ended June 30, 2025 and 2024, respectively. The weighted-average term and discount rates for leases are as follows:
| Nine Months Ended June 30,
| 2025 |  | 2024
Weighted-average remaining lease term (years): |  |  |
Operating leases | 5.00 |  | 4.88
Financing leases | 2.08 |  | 3.01
Weighted-average discount rate: |  |  |
Operating leases | 8.77 | % |  | 8.33 | %
Financing leases | 11.14 | % |  | 11.14 | %
As of June 30, 2025, maturities of lease liabilities under ASC 842 by fiscal year were as follows:
(in thousands) | Operating Leases |  | Financing Leases
Remaining 2025 | $ | 19,813 |  |  | $ | 194 |
Fiscal 2026 | 76,814 |  |  | 771 |
Fiscal 2027 | 62,927 |  |  | 497 |
Fiscal 2028 | 46,718 |  |  | 52 |
Fiscal 2029 | 32,926 |  |  | 6 |
Thereafter | 66,958 |  |  | — |
Total lease liabilities | $ | 306,156 |  |  | $ | 1,520 |
Less: portion representing imputed interest | 61,678 |  |  | 168 |
Total net lease liabilities | $ | 244,478 |  |  | $ | 1,352 |
Less: current portion | 60,183 |  |  | 657 |
Total long-term net lease liabilities | $ | 184,295 |  |  | $ | 695 |
We recorded $51.2 million and $46.1 million in non-cash additions to our operating right-of-use assets and lease liabilities for the nine months ended June 30, 2025 and 2024, respectively.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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