Company: FCFS
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0000840489-25-000098
Chunk: 63

Company: FirstCash Holdings, Inc.
Filing Date: 2025-07-28
Form: 10-Q
Item: Part I, Item 1
Chunk 63
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 expected charge-off rates on older vintages. As a percentage of gross transaction volume, the provision for loan losses decreased to 27% during the six months ended June 30, 2025 from 30% during the six months ended June 30, 2024.

Segment Expenses

Operating expenses decreased 31% to $48.5 million during the six months ended June 30, 2025 compared to $70.1 million during the six months ended June 30, 2024. The decrease was primarily due to the elimination of certain expenses associated with supporting the A-Freight and Conn’s relationships along with continued realization of operating synergies, primarily in technology and development infrastructure, coupled with other cost reduction initiatives. As a percentage of segment revenues, operating expenses decreased to 11% during the six months ended June 30, 2025 from 14% during the six months ended June 30, 2024.

Segment Pre-Tax Operating Income

The retail POS payment solutions segment pre-tax operating income for the six months ended June 30, 2025 was $90.2 million compared to $59.1 million in the six months ended June 30, 2024. The increase was primarily the result of the increase in segment net revenue and a decrease in operating expenses.

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Consolidated Results of Operations

The following table reconciles pre-tax operating income of the Company’s U.S. pawn segment, Latin America pawn segment and retail POS payment solutions segment, discussed above, to consolidated net income for the six months ended June 30, 2025 compared to the six months ended June 30, 2024 (dollars in thousands):

Six Months EndedJune 30, 20252024Consolidated Results of OperationsSegment pre-tax operating income:U.S. operations $211,418 $187,197 Latin America pawn72,385 69,017 Retail POS payment solutions90,240 59,058 Intersegment eliminations (1)72 294 Consolidated segment pre-tax operating income374,115 315,566 Corporate expenses and other income:Administrative expenses107,786 90,620 Depreciation and amortization25,541 26,408 Interest expense53,808 50,605 Interest income(1,756)(1,004)(Gain) loss on foreign exchange(1,285)1,251 Merger and acquisition expenses3,239 1,961