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Leases

3 Months Ended

Dec. 31, 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 five 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						December 31, 2025						December 31, 2024						September 30, 2025
Lease assets:
Operating lease right-of-use assets						Right-of-use assets, net						$	237,637					$	227,810					$	236,462
Financing lease assets						Other assets, net						1,229						1,340						1,075
Total lease assets												$	238,866					$	229,150					$	237,537
Lease liabilities:
Current:
Operating lease liabilities						Operating lease liabilities, current						$	61,459					$	57,900					$	61,228
Financing lease liabilities						Accounts payable, accrued expenses and other current liabilities						760						556						643
Total current lease liabilities												$	62,219					$	58,456					$	61,871
Non-current:
Operating lease liabilities						Operating lease liabilities						$	185,507					$	182,228					$	184,736
Financing lease liabilities						Other long-term liabilities						607						907						573
Total non-current lease liabilities												$	186,114					$	183,135					$	185,309
Total lease liabilities												$	248,333					$	241,591					$	247,180

The table below provides major components of our lease costs:

												Three Months Ended December 31,
(in thousands)																		2025						2024
Operating lease cost:
Operating lease cost*																		$	20,861					$	19,969
Variable lease cost																		5,033						3,293
Total operating lease cost																		$	25,894					$	23,262
Financing lease cost:
Amortization of financing lease assets																		$	157					$	139
Interest on financing lease liabilities																		37						44
Total financing lease cost																		$	194					$	183
Total lease cost																		$	26,088					$	23,445

*Includes a reduction for sublease rental income of $0.7 million and $0.6 million for the three months ended December 31, 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 $21.2 million and $20.0 million for the three months ended December 31, 2025 and 2024, respectively.

The weighted-average term and discount rates for leases are as follows:

						Three Months Ended December 31,
						2025						2024
Weighted-average remaining lease term (years):
Operating leases						5.11						5.02
Financing leases						2.14						2.80
Weighted-average discount rate:
Operating leases						8.95		%				8.40		%
Financing leases						11.90		%				11.14		%

As of December 31, 2025, maturities of lease liabilities under ASC 842 by fiscal year were as follows:

(in thousands)						Operating Leases						Financing Leases
Remaining 2026						$	61,114					$	669
Fiscal 2027						70,249						615
Fiscal 2028						53,739						150
Fiscal 2029						39,037						102
Fiscal 2030						26,938						27
Thereafter						59,375						—
Total lease liabilities						$	310,452					$	1,563
Less: portion representing imputed interest						63,486						196
Total net lease liabilities						$	246,966					$	1,367
Less: current portion						61,459						760
Total long-term net lease liabilities						$	185,507					$	607

We recorded $15.8 million and $18.2 million in non-cash additions to our operating right-of-use assets and lease liabilities for the three months ended December 31, 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 five 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						December 31, 2025						December 31, 2024						September 30, 2025
Lease assets:
Operating lease right-of-use assets						Right-of-use assets, net						$	237,637					$	227,810					$	236,462
Financing lease assets						Other assets, net						1,229						1,340						1,075
Total lease assets												$	238,866					$	229,150					$	237,537
Lease liabilities:
Current:
Operating lease liabilities						Operating lease liabilities, current						$	61,459					$	57,900					$	61,228
Financing lease liabilities						Accounts payable, accrued expenses and other current liabilities						760						556						643
Total current lease liabilities												$	62,219					$	58,456					$	61,871
Non-current:
Operating lease liabilities						Operating lease liabilities						$	185,507					$	182,228					$	184,736
Financing lease liabilities						Other long-term liabilities						607						907						573
Total non-current lease liabilities												$	186,114					$	183,135					$	185,309
Total lease liabilities												$	248,333					$	241,591					$	247,180

The table below provides major components of our lease costs:

												Three Months Ended December 31,
(in thousands)																		2025						2024
Operating lease cost:
Operating lease cost*																		$	20,861					$	19,969
Variable lease cost																		5,033						3,293
Total operating lease cost																		$	25,894					$	23,262
Financing lease cost:
Amortization of financing lease assets																		$	157					$	139
Interest on financing lease liabilities																		37						44
Total financing lease cost																		$	194					$	183
Total lease cost																		$	26,088					$	23,445

*Includes a reduction for sublease rental income of $0.7 million and $0.6 million for the three months ended December 31, 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 $21.2 million and $20.0 million for the three months ended December 31, 2025 and 2024, respectively.

The weighted-average term and discount rates for leases are as follows:

						Three Months Ended December 31,
						2025						2024
Weighted-average remaining lease term (years):
Operating leases						5.11						5.02
Financing leases						2.14						2.80
Weighted-average discount rate:
Operating leases						8.95		%				8.40		%
Financing leases						11.90		%				11.14		%

As of December 31, 2025, maturities of lease liabilities under ASC 842 by fiscal year were as follows:

(in thousands)						Operating Leases						Financing Leases
Remaining 2026						$	61,114					$	669
Fiscal 2027						70,249						615
Fiscal 2028						53,739						150
Fiscal 2029						39,037						102
Fiscal 2030						26,938						27
Thereafter						59,375						—
Total lease liabilities						$	310,452					$	1,563
Less: portion representing imputed interest						63,486						196
Total net lease liabilities						$	246,966					$	1,367
Less: current portion						61,459						760
Total long-term net lease liabilities						$	185,507					$	607

We recorded $15.8 million and $18.2 million in non-cash additions to our operating right-of-use assets and lease liabilities for the three months ended December 31, 2025 and 2024, respectively.

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- References

No definition available.

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X

- 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

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X

- 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

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