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Strategic Investments
3 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Strategic Investments
NOTE 6: STRATEGIC INVESTMENTS
Cash Converters International Limited
As of December 31, 2025, we owned approximately 43.7%, of Cash Converters. We acquired our original investment in November 2009 and have increased our ownership through the acquisition of additional shares periodically since that time. During the three months ended December 31, 2025, we acquired an additional 35,780,747 shares for $7.1 million bringing our total shares owned to 309,719,904 shares. This additional investment did not increase our ownership percentage in Cash Converters.
We received cash dividends from Cash Converters of $1.8 million and $1.9 million during the three months ended December 31, 2025 and 2024, respectively.
During the three months ended December 31, 2025 and 2024, we recorded our share of income of $1.8 million and $1.6 million, respectively, from Cash Converters, included in “Equity in net income of unconsolidated affiliates” in the Condensed Consolidated Statements of Operations.
See Note 7: Fair Value Measurements for the fair value and carrying value of our investment in Cash Converters.
Founders One, LLC
In fiscal 2022, we invested $15.0 million in exchange for a non-redeemable voting participating preferred equity interest in Founders One, LLC (“Founders”), a then newly-formed entity with one other member. In fiscal 2023, we contributed an additional $15.0 million associated with our preferred interest and loaned Founders $15.0 million in exchange for a Demand Promissory Note secured by the common interest held by the other member. In fiscal 2024, we contributed an additional $15.0 million associated with our preferred interest, bringing our total preferred equity investment in Founders to $45.0 million.
Our preferred equity investment in Founders, a variable interest entity, is accounted for utilizing the measurement alternative within ASC 321, Investments — Equity Securities. As of December 31, 2025, our $45.0 million carrying value of the preferred equity investment and $29.3 million in Demand Promissory Notes (including accrued interest) are included in “Other investments” and “Prepaid expenses and other current assets” in our Condensed Consolidated Balance Sheets, respectively. As of December 31, 2025, our maximum exposure for losses related to our investment in Founders was our $45.0 million preferred equity investment and $29.3 million in Demand Promissory Notes (including accrued interest).
Subsequent to the Balance Sheet date, on January 2, 2026, we acquired a controlling interest in Founders. See Note 13: Subsequent Events.
See Note 7: Fair Value Measurements for the fair value and carrying value of our loan to Founders.