Company: FCFS
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0000840489-25-000098
Chunk: 116

Company: FirstCash Holdings, Inc.
Filing Date: 2025-07-28
Form: 10-Q
Item: Part I, Item 8
Chunk 116
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 to have a material impact on its effective tax rate in 2025.

38

Operating Results for the Six Months Ended June 30, 2025 Compared to the Six Months Ended June 30, 2024 

U.S. Pawn Segment

The following table presents segment pre-tax operating income and other operating metrics of the U.S. pawn segment for the six months ended June 30, 2025 compared to the six months ended June 30, 2024 (dollars in thousands). Operating expenses include salary and benefit expenses of pawn store-level employees, occupancy costs, bank charges, security, insurance, utilities, supplies and other costs incurred by the pawn stores.

Six Months EndedJune 30,20252024IncreaseU.S. Pawn SegmentRevenue:Retail merchandise sales (1)$501,143 $467,083 7 %Pawn loan fees268,896 243,306 11 %Wholesale scrap jewelry sales62,232 44,037 41 %Total revenue832,271 754,426 10 %Cost of revenue:  Cost of retail merchandise sold (2)288,907 272,363 6 %Cost of wholesale scrap jewelry sold53,489 36,535 46 %Total cost of revenue342,396 308,898 11 %Net revenue489,875 445,528 10 %Segment expenses:  Operating expenses262,766 244,087 8 %Depreciation and amortization15,691 14,244 10 %Total segment expenses278,457 258,331 8 %Segment pre-tax operating income$211,418 $187,197 13 %Operating metrics:Retail merchandise sales margin42 %42 %Net revenue margin59 %59 %Segment pre-tax operating margin25 %25 %

(1)Includes $1.5 million and $2.1 million of retail merchandise sales from intersegment transactions for the six months ended June 30, 2025 and 2024, respectively, related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores that are eliminated upon consolidation. Excluding these intersegment sales, consolidated U.S. retail merchandise sales for the six months ended June 30, 2025 and 2024 totaled $499.7 million and $465.0 million, respectively.

(2)Includes $0.8 million and $1.1 million