Company: FCFS
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000840489-25-000120
Chunk: 125

Company: FirstCash Holdings, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 125
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 2024. Same-store pawn fees increased 2% (12% on a constant currency basis) during the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. The constant currency increase in total and same-store pawn loan fees was primarily due to increased constant currency pawn receivables. 

37

Segment Expenses 

Operating expenses decreased 1% (8% increase on a constant currency basis) to $196.2 million during the nine months ended September 30, 2025 compared to $198.4 million during the nine months ended September 30, 2024. Same-store operating expenses also decreased 1% (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 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 nine months ended September 30, 2025 was $119.4 million, which generated a pre-tax segment operating margin of 19% compared to $107.5 million and 18% in the prior year, respectively. The increase in the segment pre-tax operating income and margin reflected the increase in net revenue and a decrease in operating expenses.

U.K. Pawn  Segment

The segment contribution reflects the results of operations of H&T for the period August 14, 2025 to September 30, 2025 as a result of the completion of the H&T Acquisition on August 14, 2025. See Note 3 of Notes to Consolidated Financial Statements for additional information about the H&T Acquisition.

The U.K. pawn segment contributed $55.0 million in revenue and $17.9 million in pre-tax segment operating income for the nine months ended September 30, 2025. The resulting pre-tax segment operating margin was 33%. 

Retail POS Payment Solutions Segment

LTO Operations

Leased merchandise income decreased 27% to $429.2 million during the nine months ended September 30, 2025 compared to $588.8 million for the nine months ended September 30, 2024, which was primarily due to lower average leased merchandise balances outstanding during the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024.

Depreciation of leased merchandise decreased 28% to $243.9 million during the nine months