Company: FCFS
Filing Date: 2025-04-28
Form Type: 10-Q
Source: 0000840489-25-000061
Chunk: 109

Company: FirstCash Holdings, Inc.
Filing Date: 2025-04-28
Form: 10-Q
Item: Part I, Item 2
Chunk 109
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225 $236,990 6 %Pawn loan fees137,948 122,974 12 %Wholesale scrap jewelry sales33,492 17,726 89 %Total revenue422,665 377,690 12 %Cost of revenue:  Cost of retail merchandise sold (2)145,758 139,914 4 %Cost of wholesale scrap jewelry sold27,224 15,266 78 %Total cost of revenue172,982 155,180 11 %Net revenue249,683 222,510 12 %Segment expenses:  Operating expenses128,951 118,895 8 %Depreciation and amortization7,600 7,013 8 %Total segment expenses136,551 125,908 8 %Segment pre-tax operating income$113,132 $96,602 17 %Operating metrics:Retail merchandise sales margin42 %41 %Net revenue margin59 %59 %Segment pre-tax operating margin27 %26 %

(1)Includes $0.7 million and $1.0 million of retail merchandise sales from intersegment transactions for the three months ended March 31, 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 three months ended March 31, 2025 and 2024 totaled $250.5 million and $236.0 million, respectively.

(2)Includes $0.4 million and $0.6 million of cost of retail merchandise sold from intersegment transactions for the three months ended March 31, 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. cost of retail merchandise sold for the three months ended March 31, 2025 and 2024 totaled $145.4 million and $139.3 million, respectively.

23

The following table details earning assets, which consist of pawn loans and inventories as well as other earning asset metrics of the U.S. pawn segment, as of March 31, 2025 compared to March 31, 2024 (dollars in thousands, except as otherwise noted): 

As