Company: FCFS
Filing Date: 2025-04-28
Form Type: 10-Q
Source: 0000840489-25-000061
Chunk: 41

Company: FirstCash Holdings, Inc.
Filing Date: 2025-04-28
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 receivables decreased 5% (15% increase on a constant currency basis) as of March 31, 2025 compared to March 31, 2024. On a same-store basis, pawn loan receivables decreased 5% (14% increase on a constant currency basis) as of March 31, 2025 compared to March 31, 2024. The increase in constant currency total and same-store pawn receivables is primarily due to increasing demand for pawn loans and larger loan sizes, driven in part by higher gold prices and a slightly increased mix of higher value jewelry loans.

Latin America pawn loan fees decreased 5% (13% increase on a constant currency basis), totaling $53.9 million during the first quarter of 2025 compared to $56.6 million for the first quarter of 2024. Same-store pawn fees also decreased 5% (13% increase on a constant currency basis) in the first quarter of 2025 compared to the first quarter of 2024. The constant currency increase in total and same-store pawn loan fees was primarily due to increased constant currency same-store pawn receivables. 

Segment Expenses

Operating expenses decreased 9% (8% increase on a constant currency basis) to $61.4 million during the first quarter of 2025 compared to $67.4 million during the first quarter of 2024. Same-store operating expenses decreased 8% (8% increase on a constant currency basis) compared to the prior-year period. The constant currency increase in total and same-store operating expenses was primarily driven by increased store counts, accelerated store opening activity, general inflationary impacts and continued increases in the federally mandated minimum wage.

 Segment Pre-Tax Operating Income

The segment pre-tax operating income for the first quarter of 2025 was $31.4 million, which generated a pre-tax segment operating margin of 17% compared to $31.9 million and 16% in the prior year, respectively. The decrease in the segment pre-tax operating income and margin reflected the decrease in net revenue, partially offset by a decrease in operating expenses.

28

Retail POS Payment Solutions Segment

Retail POS Payment Solutions Operating Results

The following table presents segment pre-tax operating income of the retail POS payment solutions segment for the three months ended March 31, 2025 as compared to the three months ended March 31, 2024 (dollars in thousands). Operating expenses include salary and benefit expenses of certain operations-focused departments, merchant