# EDGAR Filing Document

**Accession Number:** 0001808834
**File Stem:** 0001808834-25-000095
**Filing Date:** 2025-7
**Character Count:** 70229
**Document Hash:** 2b0f1b2093671deb2389eddb324bb323
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001808834-25-000095.hdr.sgml**: 20250723

**ACCESSION NUMBER**: 0001808834-25-000095

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 43

**CONFORMED PERIOD OF REPORT**: 20250723

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250723

**DATE AS OF CHANGE**: 20250723

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PROG Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001808834
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-EQUIPMENT RENTAL & LEASING, NEC [7359]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** GA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39628
- **FILM NUMBER:** 251141682

**BUSINESS ADDRESS:**
- **STREET 1:** 256 W. DATA DRIVE
- **CITY:** DRAPER
- **STATE:** UT
- **ZIP:** 84020
- **BUSINESS PHONE:** (385) 351-1369

**MAIL ADDRESS:**
- **STREET 1:** 256 W. DATA DRIVE
- **CITY:** DRAPER
- **STATE:** UT
- **ZIP:** 84020

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Aaron's Holdings Company, Inc.
- **DATE OF NAME CHANGE:** 20200408

?xml version='1.0' encoding='ASCII'? prg-20250723

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

________________________________

**FORM 8-K** 

________________________________

**CURRENT REPORT**

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): July 23, 2025

 

**PROG HOLDINGS, INC.**<br>

(Exact name of Registrant as Specified in Charter)

Georgia 1-39628 85-2484385 <br> (State or other Jurisdiction of Incorporation) (Commission FileNumber) (IRS EmployerIdentification No.)

256 W. Data Drive Draper, Utah 84020-2315 <br> (Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: <u>(385) 351-1369</u> 

<u>Not Applicable</u>

(Former Name or Former Address, if Changed Since Last Report)

&nbsp;&nbsp;&nbsp;&nbsp;Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

&nbsp;&nbsp;&nbsp;&nbsp;☐&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

&nbsp;&nbsp;&nbsp;&nbsp;☐&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

&nbsp;&nbsp;&nbsp;&nbsp;☐&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

&nbsp;&nbsp;&nbsp;&nbsp;☐&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol | Name of each exchange on which registered |
| Common Stock, $0.50 Par Value | PRG | New York Stock Exchange |

---

&nbsp;&nbsp;&nbsp;&nbsp;Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

&nbsp;&nbsp;&nbsp;&nbsp;Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**ITEM 2.02.** &nbsp;&nbsp;&nbsp;&nbsp;**RESULTS OF OPERATIONS AND FINANCIAL CONDITION**

On July 23, 2025, PROG Holdings, Inc. (the "Company") issued a press release (the "Press Release") announcing its financial results for the second quarter ended June 30, 2025. A copy of the Press Release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference. The information contained in this paragraph, as well as Exhibit 99.1 referenced herein, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.

**ITEM 9.01.** &nbsp;&nbsp;&nbsp;&nbsp;**FINANCIAL STATEMENTS AND EXHIBITS**

(d)&nbsp;&nbsp;&nbsp;&nbsp;Exhibits:

---

| | |
|:---|:---|
| **<u>Exhibit No.</u>** | **<u>Description</u>** |
| <u>[99.1](a2025q2ex991secondquarter2.htm)</u> | <u>[Press release, dated](a2025q2ex991secondquarter2.htm)[July](a2025q2ex991secondquarter2.htm)[23, 2025.](a2025q2ex991secondquarter2.htm)</u> |
| <u>[99.2](ex-992q22025earningssupp.htm)</u> | <u>[PROG Holdings, Inc. Earnings Supplement Presentation, dated July 23, 2025.](ex-992q22025earningssupp.htm)</u> |
| 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL |

---

------

**SIGNATURES**

&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| | | By: | PROG Holdings, Inc.<br>/s/ Brian Garner |
| Date: | July 23, 2025 |  | Brian Garner<br>Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

**PROG Holdings Reports Second Quarter 2025 Results**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• Consolidated revenues of $604.7 million; Net earnings of $38.5 million*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• Adjusted EBITDA of $73.5 million*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• Diluted EPS of $0.95; Non-GAAP Diluted EPS of $1.02*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• Progressive Leasing GMV of $413.9 million*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• Four Technologies grows GMV 166.5%; second consecutive quarter of positive pre-tax income*

SALT LAKE CITY, July 23, 2025 **-** PROG Holdings, Inc. (NYSE:PRG), the fintech holding company for Progressive Leasing, Vive Financial, Four Technologies, and Build today announced financial results for the second quarter ended June 30, 2025.

"Our second quarter results once again demonstrate the resiliency of our Leasing business and our ability to manage through a period of high uncertainty and the loss of an important retail partner to liquidation," said Steve Michaels, President and CEO of PROG Holdings. "The revenue and earnings outperformance compared to guidance reflects strong execution in our Progressive Leasing business, where our teams took deliberate actions to preserve portfolio health while expanding balance of share with key retail partners - even as we navigated notable GMV headwinds. At the same time, Four Technologies delivered another outstanding quarter, with over 200% revenue growth and continued profitability. Four is delivering value to our ecosystem – driving cross-sell opportunities and enhancing customer engagement across our platform."

"At Progressive Leasing, we're advancing our technology initiatives – deploying AI-powered tools, optimizing our digital funnel, and enhancing our mobile and web experiences to create a more seamless, personalized customer journey. These improvements are driving greater efficiency and top-of-funnel engagement, even as we make strategic decisions to moderate GMV growth and maintain portfolio performance within our targeted annual write-off range to fulfill our expectation of sustainable and profitable growth."

"I am extremely proud of our team's execution as we strike the balance of executing on growth objectives in our Progressive Leasing business and further developing our other suite of products which holds significant promise," Michaels concluded.

------

**Consolidated Results**

Consolidated revenues for the second quarter of 2025 were $604.7 million, an increase of 2.1% from the same period in 2024.

Consolidated net earnings for the quarter were $38.5 million, compared with $33.8 million in the prior year period. The effective income tax rate was 26.8% in the second quarter. Adjusted EBITDA for the quarter was $73.5 million, or 12.2% of revenues, compared with $72.3 million, or 12.2% of revenues for the same period in 2024.

Diluted earnings per share for the second quarter of 2025 were $0.95, compared with $0.77 in the year ago period. On a non-GAAP basis, diluted earnings per share were up 10.9% at $1.02 in the second quarter of 2025, compared with $0.92 for the same period in 2024. The Company's diluted weighted average shares outstanding in the second quarter were 7.2% lower year-over-year.

**Progressive Leasing Results**

Progressive Leasing's second quarter GMV of $413.9 million was down 8.9% compared to the same period in 2024. The provision for lease merchandise write-offs for the quarter was 7.5% of leasing revenues, within the Company's 6-8% targeted annual range.

**Liquidity and Capital Allocation**

PROG Holdings ended the second quarter of 2025 with cash of $222.0 million and gross debt of $600.0 million. The Company repurchased $25.7 million of its stock in the quarter at an average price of $28.51 per share, leaving $309.6 million of repurchase capacity under its $500 million share repurchase program. Additionally, the Company paid a quarterly cash dividend of $0.13 per share.

------

**2025 Outlook**

The Company is providing selective third quarter outlook metrics and updating its full year 2025 outlook by increasing the low end of our previous range on revenues and earnings metrics and maintaining the previous high ends of those same metrics. The updated outlook below assumes a difficult operating environment with soft demand for consumer durable goods, no material changes in the Company's current decisioning posture, an effective tax rate for Non-GAAP EPS of approximately 27%, and no impact from additional share repurchases.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Revised 2025 Outlook** | **Revised 2025 Outlook** | **Previous 2025 Outlook** | **Previous 2025 Outlook** |
| **(In thousands, except per share amounts)** | Low | High | Low | High |
| PROG Holdings - Total Revenues | $2450000 | $2500000 | $2425000 | $2500000 |
| PROG Holdings - Net Earnings | 120000 | 125000 | 109000 | 125000 |
| PROG Holdings - Adjusted EBITDA | 255000 | 265000 | 245000 | 265000 |
| PROG Holdings - Diluted EPS | 2.91 | 3.06 | 2.62 | 3.01 |
| PROG Holdings - Diluted Non-GAAP EPS | 3.20 | 3.35 | 2.90 | 3.30 |
| Progressive Leasing - Total Revenues | 2325000 | 2360000 | 2300000 | 2360000 |
| Progressive Leasing - Earnings Before Taxes | 179000 | 185000 | 168000 | 185000 |
| Progressive Leasing - Adjusted EBITDA | 255000 | 261000 | 245000 | 261000 |
| Vive - Total Revenues | 60000 | 65000 | 60000 | 65000 |
| Vive - Loss Before Taxes | (5000) | (3500) | (5000) | (3500) |
| Vive - Adjusted EBITDA | (2500) | (1000) | (2500) | (1000) |
| Other - Total Revenues | 65000 | 75000 | 65000 | 75000 |
| Other - Loss Before Taxes | (9000) | (7500) | (9000) | (7500) |
| Other - Adjusted EBITDA | 2500 | 5000 | 2500 | 5000 |

---

---

| | | |
|:---|:---|:---|
| | **Three Months Ended**<br>**September 30, 2025 Outlook** | **Three Months Ended**<br>**September 30, 2025 Outlook** |
| **(In thousands, except per share amounts)** | Low | High |
| PROG Holdings - Total Revenues | $580000 | $595000 |
| PROG Holdings - Net Earnings | 26000 | 28000 |
| PROG Holdings - Adjusted EBITDA | 57000 | 62000 |
| PROG Holdings - Diluted EPS | 0.63 | 0.68 |
| PROG Holdings - Diluted Non-GAAP EPS | 0.70 | 0.75 |

---

------

**Conference Call and Webcast**

The Company has scheduled a live webcast and conference call for Wednesday, July 23, 2025, at 8:30 A.M. ET to discuss its financial results for the second quarter of 2025. To access the live webcast, visit the Events and Presentations page of the Company's Investor Relations website, https://investor.progholdings.com/.

**About PROG Holdings, Inc.**

*PROG Holdings, Inc. (NYSE:PRG) is a fintech holding company headquartered in Salt Lake City, UT, that provides transparent and competitive payment options to consumers. The Company owns Progressive Leasing, a leading provider of e-commerce, app-based, and in-store point-of-sale lease-to-own solutions, Vive Financial, an omnichannel provider of second-look revolving credit products, Four Technologies, a provider of Buy Now, Pay Later payment options through its platform, Four, and Build, provider of personal credit building products. More information on PROG Holdings and its companies can be found at https://investor.progholdings.com/.*

**Forward Looking Statements:**

*Statements, estimates and projections in this press release regarding our business that are not historical facts are "forward-looking statements" that involve risks and uncertainties which could cause actual results to differ materially from those contained in the forward-looking statements. Such forward-looking statements generally can be identified by the use of forward-looking terminology, such as "delivering," "driving," "advancing," "expectation," "estimate," "target," "uncertainty," "outlook," "assumes," "intends" and similar forward-looking terminology. These risks and uncertainties include (i) continued volatility and challenges in the macroeconomic environment and their impact on: (a) consumer confidence and customer demand for the merchandise that our retail partners sell, in particular consumer durables, such as home appliances, electronics and furniture; (b) our customers' disposable income and their ability to make the lease and loan payments they owe the Company; (c) the availability of consumer credit; and (d) our overall financial performance and outlook; (ii) the impact of the uncertain macroeconomic environment on our proprietary algorithms and decisioning tools that we use to approve customers such that they are no longer indicative of our customers' ability to perform, which in turn may limit the ability of our businesses to manage risk, avoid lease and loan charge-offs and may result in insufficient reserves to cover actual losses; (iii) a large percentage of Progressive Leasing's revenue being concentrated with several key retail partners, and the loss of any of these retail partner relationships materially and adversely affecting several aspects of our performance; (iv) Progressive Leasing being unable to attract additional retail partners and retain and grow its relationships with its existing retail partners, resulting in several aspects of our performance being materially and adversely affected; (v) Progressive Leasing being unable to attract new consumers and retain and grow its relationships with its existing customers materially and adversely affecting several aspects of our performance; (vi) Vive and Four's business models differing significantly from Progressive Leasing's lease-to-own business, which means each of these businesses have different risk profiles; (vii) our efforts to modernize and enhance certain enterprise-wide information management systems* 

------

*and technologies adversely impacting our businesses and operations; (viii) the inability of our businesses to successfully operate in highly and increasingly competitive industries materially and adversely affecting several aspects of our performance; (ix) our business, results of operations, financial condition, and prospects being materially and adversely affected due to Progressive Leasing failing to maintain a consistently high level of consumer satisfaction and trust in its brand; (x) our businesses being subject to extensive federal, state and local laws and regulations, including certain laws and regulations unique to the industries in which our businesses operate, that may subject them to government investigations and significant monetary penalties, remediation expenses and compliance-related burdens that may result in them changing the manner in which they operate, which may be materially adverse to several aspects of our performance; (xi) our performance being materially and adversely affected due to the transactions offered to consumers by our businesses being negatively characterized by federal, state and local government officials, consumer advocacy groups and the media; (xii) our inability to protect confidential, proprietary, or sensitive information, including the confidential information of our customers, being adversely affected by cyber-attacks or similar disruptions, which may result in significant costs, litigation and reputational damage or otherwise have a material adverse impact on several aspects of our performance; (xiii) any significant disruption in our vendors' information technology systems, or disruptions in the information our businesses rely on in their lease and loan decisioning, materially and adversely affecting several aspects of our performance; (xiv) our capital allocation strategy and financial policies, including our current stock repurchase and dividend programs, as well as any potential debt repurchase program not being effective at enhancing shareholder value, or providing other benefits we expect; and (xv) the other risks and uncertainties discussed under "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on February 19, 2025. Statements, estimates and projections in this press release that are "forward-looking" include without limitation statements, estimates and projections about: (i) growing our balance of share with key retail partners; (ii) the performance of our lease portfolio, including our annual write-offs; (iii) the progress of our Four Technologies business and the benefits we expect from that business; (iv) the advancement of our technology initiatives; (v) our ability to continue achieving sustainable and profitable growth; and (vi) our revised full year 2025 outlook and the guidance we provide for the third quarter. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, the Company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances after the date of this press release.*

**Investor Contact**

John A. Baugh, CFA

Vice President, Investor Relations

john.baugh@progleasing.com

------

**PROG Holdings, Inc.**

**Consolidated Statements of Earnings**

**(In thousands, except per share data)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **(Unaudited) <br> Three Months Ended** | **(Unaudited) <br> Three Months Ended** | **(Unaudited)** <br> **Six Months Ended** | **(Unaudited)** <br> **Six Months Ended** |
| | **June 30,** | **June 30,** | **June 30,** | **June 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| **REVENUES:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease Revenues and Fees | $569674 | $570516 | $1221231 | $1191066 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest and Fees on Loans Receivable | 34989 | 21645 | 67520 | 42965 |
|  | 604663 | 592161 | 1288751 | 1234031 |
| **COSTS AND EXPENSES:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation of Lease Merchandise | 385107 | 384799 | 845550 | 816370 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for Lease Merchandise Write-offs | 42633 | 43783 | 90651 | 86924 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating Expenses | 116199 | 107901 | 235505 | 235242 |
|  | 543939 | 536483 | 1171706 | 1138536 |
| **OPERATING PROFIT** | 60724 | 55678 | 117045 | 95495 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest Expense, Net | (8149) | (7339) | (17239) | (15589) |
| **EARNINGS BEFORE INCOME TAX EXPENSE** | 52575 | 48339 | 99806 | 79906 |
| **INCOME TAX EXPENSE** | 14092 | 14565 | 26605 | 24166 |
| **NET EARNINGS** | $38483 | $33774 | $73201 | $55740 |
| **EARNINGS PER SHARE** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | $0.96 | $0.79 | $1.81 | $1.29 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | $0.95 | $0.77 | $1.78 | $1.26 |
| **CASH DIVIDENDS DECLARED PER SHARE:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Stock | $0.13 | $0.12 | $0.26 | $0.24 |
| **WEIGHTED AVERAGE SHARES OUTSTANDING:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 40130 | 42955 | 40484 | 43325 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 40559 | 43721 | 41203 | 44124 |

---

------

**PROG Holdings, Inc.**

**Consolidated Balance Sheets**

**(In thousands, except share data)**

---

| | | |
|:---|:---|:---|
| | **(Unaudited)**<br>**June 30,<br>2025** |<br>**December 31,<br>2024** |
| **ASSETS:** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and Cash Equivalents | $222027 | $95655 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts Receivable (net of allowances of $68,788 in 2025 and $71,607 in 2024)  | 60531 | 80225 |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease Merchandise (net of accumulated depreciation and allowances of $440,339 in 2025 and $440,831 in 2024) | 526303 | 680242 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans Receivable (net of allowances and unamortized fees of $58,930 in 2025 and $57,342 in 2024) | 148320 | 146985 |
| &nbsp;&nbsp;&nbsp;&nbsp;Property and Equipment, Net | 21179 | 21443 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating Lease Right-of-Use Assets | 3352 | 4035 |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 296061 | 296061 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Intangibles, Net | 65774 | 73775 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income Tax Receivable | 8817 | 10644 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred Income Tax Assets | 26472 | 26472 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid Expenses and Other Assets | 75760 | 78230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Assets | $1454596 | $1513767 |
| **LIABILITIES & SHAREHOLDERS' EQUITY:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts Payable and Accrued Expenses | $92765 | $93190 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred Income Tax Liabilities | 54271 | 74320 |
| &nbsp;&nbsp;&nbsp;&nbsp;Customer Deposits and Advance Payments | 35504 | 40917 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating Lease Liabilities | 9171 | 11496 |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt, Net | 594212 | 643563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Liabilities | 785923 | 863486 |
| **SHAREHOLDERS' EQUITY:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Stock, Par Value $0.50 Per Share: Authorized: 225,000,000 Shares at June 30, 2025 and December 31, 2024; Shares Issued: 82,078,654 at June 30, 2025 and December 31, 2024 | 41039 | 41039 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional Paid-in Capital | 349707 | 358538 |
| &nbsp;&nbsp;&nbsp;&nbsp;Retained Earnings | 1531768 | 1469450 |
|  | 1922514 | 1869027 |
| Less: Treasury Shares at Cost |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Stock: 42,535,192 Shares at June 30, 2025 and 41,262,901 at December 31, 2024 | (1253841) | (1218746) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Shareholders' Equity | 668673 | 650281 |
| Total Liabilities & Shareholders' Equity | $1454596 | $1513767 |

---

------

**PROG Holdings, Inc.**

**Consolidated Statements of Cash Flows**

**(In thousands)**

---

| | | |
|:---|:---|:---|
| | **(Unaudited)** | **(Unaudited)** |
| | **Six Months Ended June 30,** | **Six Months Ended June 30,** |
| | **2025** | **2024** |
| **OPERATING ACTIVITIES:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net Earnings | $73201 | $55740 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments to Reconcile Net Earnings to Cash Provided by Operating Activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation of Lease Merchandise | 845550 | 816370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Depreciation and Amortization | 12111 | 14515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provisions for Accounts Receivable and Loan Losses | 198650 | 174822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-Based Compensation | 14536 | 13737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred Income Taxes | (20049) | (16973) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment of Assets |  | 6018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Cash Lease Expense | (1642) | (1603) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Changes, Net | (943) | (155) |
| &nbsp;&nbsp;&nbsp;&nbsp;Changes in Operating Assets and Liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additions to Lease Merchandise | (784951) | (836084) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Book Value of Lease Merchandise Sold or Disposed | 93340 | 89549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts Receivable | (147179) | (145312) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid Expenses and Other Assets | 5480 | 377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income Tax Receivable and Payable | 1749 | 26206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts Payable and Accrued Expenses | (4620) | (5113) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Customer Deposits and Advance Payments | (5413) | (967) |
| Cash Provided by Operating Activities | 279820 | 191127 |
| **INVESTING ACTIVITIES:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Loans Receivable | (370099) | (172513) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from Loans Receivable | 339206 | 158644 |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of Property and Equipment | (3896) | (3999) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Proceeds |  | 46 |
| Cash Used in Investing Activities | (34789) | (17822) |
| **FINANCING ACTIVITIES:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Repayments on Revolving Facility | (50000) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends Paid | (10443) | (10346) |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition of Treasury Stock | (51775) | (61177) |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of Stock Under Stock Option and Employee Purchase Plans | 1028 | 799 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash Paid for Shares Withheld for Employee Taxes | (7385) | (7863) |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt Issuance Costs | (84) |  |
| Cash Used in Financing Activities | (118659) | (78587) |
| &nbsp;&nbsp;&nbsp;&nbsp;Increase in Cash and Cash Equivalents | 126372 | 94718 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and Cash Equivalents at Beginning of Period | 95655 | 155416 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and Cash Equivalents at End of Period | $222027 | $250134 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net Cash Paid During the Period: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest | $18795 | $18461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income Taxes | $45044 | $12728 |

---

------

**PROG Holdings, Inc.**

**Quarterly Revenues by Segment** 

**(In thousands)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| | Progressive Leasing | Vive | Other | Consolidated Total |
| Lease Revenues and Fees | $569674 | $— | $— | $569674 |
| Interest and Fees on Loans Receivable |  | 16160 | 18829 | 34989 |
| Total Revenues | $569674 | $16160 | $18829 | $604663 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| | **June 30, 2024** | **June 30, 2024** | **June 30, 2024** | **June 30, 2024** |
| | Progressive Leasing | Vive | Other | Consolidated Total |
| Lease Revenues and Fees | $570516 | $— | $— | $570516 |
| Interest and Fees on Loans Receivable |  | 15421 | 6224 | 21645 |
| Total Revenues | $570516 | $15421 | $6224 | $592161 |

---

------

**PROG Holdings, Inc.**

**Six Month Revenues by Segment**

**(In thousands)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| | Progressive Leasing | Vive | Other | Consolidated Total |
| Lease Revenues and Fees | $1221231 | $— | $— | $1221231 |
| Interest and Fees on Loans Receivable |  | 31820 | 35700 | 67520 |
| Total Revenues | $1221231 | $31820 | $35700 | $1288751 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30, 2024** | **June 30, 2024** | **June 30, 2024** | **June 30, 2024** |
| | Progressive Leasing | Vive | Other | Consolidated Total |
| Lease Revenues and Fees | $1191066 | $— | $— | $1191066 |
| Interest and Fees on Loans Receivable |  | 31471 | 11494 | 42965 |
| Total Revenues | $1191066 | $31471 | $11494 | $1234031 |

---

------

**PROG Holdings, Inc.**

**Quarterly Gross Merchandise Volume by Segment**

**(In thousands)**

---

| | | |
|:---|:---|:---|
| | **(Unaudited)** | **(Unaudited)** |
| | **Three Months Ended June 30,** | **Three Months Ended June 30,** |
| | **2025** | **2024** |
| Progressive Leasing | $413872 | $454508 |
| Vive | 43990 | 35757 |
| Other | 149632 | 56139 |
| Total GMV | $607494 | $546404 |

---

------

**Use of Non-GAAP Financial Information:**

*Non-GAAP net earnings, non-GAAP diluted earnings per share, and adjusted EBITDA are supplemental measures of our performance that are not calculated in accordance with generally accepted accounting principles in the United States ("GAAP"). Non-GAAP diluted earnings per share for the full year 2025 and third quarter 2025 outlook excludes intangible amortization expense. Non-GAAP net earnings and non-GAAP diluted earnings per share for the three and six months ended June 30, 2025 exclude intangible amortization expense and costs related to the cybersecurity incident, net of insurance recoveries. Non-GAAP net earnings and non-GAAP diluted earnings per share for the three and six months ended June 30, 2024 exclude intangible amortization expense, restructuring expenses, costs related to the cybersecurity incident, and accrued interest on an uncertain tax position related to Progressive Leasing's $175 million settlement with the FTC in 2020. The amount for the after-tax non-GAAP adjustment, which is tax effected using our statutory tax rate, can be found in the reconciliation of net earnings and diluted earnings per share to non-GAAP net earnings and diluted earnings per share table in this press release.*

*The Adjusted EBITDA figures presented in this press release are calculated as the Company's earnings before interest expense, net, depreciation on property and equipment, amortization of intangible assets and income taxes. Adjusted EBITDA for the full year 2025 and third quarter 2025 outlook excludes stock-based compensation expense. Adjusted EBITDA for the three and six months ended June 30, 2025 excludes stock-based compensation expense and costs related to the cybersecurity incident, net of insurance recoveries. Adjusted EBITDA for the three and six months ended June 30, 2024 excludes stock-based compensation expense, restructuring expenses, and costs related to the cybersecurity incident. The amounts for these pre-tax non-GAAP adjustments can be found in the segment EBITDA tables in this press release.*

*Management believes that non-GAAP net earnings, non-GAAP diluted earnings per share, and adjusted EBITDA provide relevant and useful information, and are widely used by analysts, investors and competitors in our industry as well as by our management in assessing both consolidated and business unit performance.*

*Non-GAAP net earnings, non-GAAP diluted earnings, and adjusted EBITDA provide management and investors with an understanding of the results from the primary operations of our business by excluding the effects of certain items that generally arose from larger, one-time transactions that are not reflective of the ordinary earnings activity of our operations or transactions that have variability and volatility of the amount. We believe the exclusion of stock-based compensation expense provides for a better comparison of our operating results with our peer companies as the calculations of stock-based compensation vary from period to period and company to company due to different valuation methodologies, subjective assumptions and the variety of award types. This measure may be useful to an investor in evaluating the underlying operating performance of our business.*

------

*Adjusted EBITDA also provides management and investors with an understanding of one aspect of earnings before the impact of investing and financing charges and income taxes. These measures may be useful to an investor in evaluating our operating performance because the measures:*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• Are widely used by investors to measure a company's operating performance without regard to items excluded from the calculation of such measure, which can vary substantially from company to company depending upon accounting methods, book value of assets, capital structure and the method by which assets were acquired, among other factors.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• Are used by rating agencies, lenders and other parties to evaluate our creditworthiness.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• Are used by our management for various purposes, including as a measure of performance of our operating entities and as a basis for strategic planning and forecasting.*

*Non-GAAP financial measures, however, should not be used as a substitute for, or considered superior to, measures of financial performance prepared in accordance with GAAP, such as the Company's GAAP basis net earnings and diluted earnings per share and the GAAP revenues and earnings before income taxes of the Company's segments, which are also presented in the press release. Further, we caution investors that amounts presented in accordance with our definitions of non-GAAP net earnings, non-GAAP diluted earnings per share, and adjusted EBITDA may not be comparable to similar measures disclosed by other companies, because not all companies and analysts calculate these measures in the same manner.*

------

**PROG Holdings, Inc.**

**Reconciliation of Net Earnings and Diluted Earnings Per Share to** 

**Non-GAAP Net Earnings and Diluted Earnings Per Share**

**(In thousands, except per share amounts)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30,** | **June 30,** | **June 30,** | **June 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| Net Earnings | $38483 | $33774 | $73201 | $55740 |
| &nbsp;&nbsp;&nbsp;Add: Intangible Amortization Expense | 4000 | 4239 | 8001 | 9889 |
| &nbsp;&nbsp;&nbsp;Add: Restructuring Expense |  | 2886 |  | 20900 |
| &nbsp;&nbsp;Add: Costs Related to the Cybersecurity Incident, Net of Insurance Recoveries | 127 | 116 | 109 | 232 |
| &nbsp;&nbsp;Less: Tax Impact of Adjustments<sup>(1)</sup> | (1073) | (1883) | (2109) | (8066) |
| &nbsp;&nbsp;Add: Accrued Interest on Uncertain Tax Position |  | 1078 |  | 2156 |
| Non-GAAP Net Earnings | $41537 | $40210 | $79202 | $80851 |
| Diluted Earnings Per Share | $0.95 | $0.77 | $1.78 | $1.26 |
| &nbsp;&nbsp;Add: Intangible Amortization Expense  | 0.10 | 0.10 | 0.19 | 0.23 |
| &nbsp;&nbsp;&nbsp;Add: Restructuring Expense |  | 0.07 |  | 0.47 |
| &nbsp;&nbsp;Add: Costs Related to the Cybersecurity Incident, Net of Insurance Recoveries |  |  |  | 0.01 |
| &nbsp;&nbsp;Less: Tax Impact of Adjustments<sup>(1)</sup> | (0.03) | (0.04) | (0.05) | (0.18) |
| &nbsp;&nbsp;Add: Accrued Interest on Uncertain Tax Position |  | 0.02 |  | 0.05 |
| Non-GAAP Diluted Earnings Per Share<sup>(2)</sup> | $1.02 | $0.92 | $1.92 | $1.83 |
| Diluted Weighted Average Shares Outstanding | 40559 | 43721 | 41203 | 44124 |

---

(1)Adjustments are tax-effected using an assumed statutory tax rate of 26%.

(2)In some cases, the sum of individual EPS amounts may not equal total non-GAAP EPS calculations due to rounding.

------

**PROG Holdings, Inc.**

**Non-GAAP Financial Information**

**Quarterly Segment Adjusted EBITDA**

**(In thousands)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| | Progressive Leasing | Vive | Other | Consolidated Total |
| Net Earnings |  |  |  | $38483 |
| &nbsp;&nbsp;Income Tax Expense<sup>(1)</sup> |  |  |  | 14092 |
| Earnings Before Income Tax Expense | $51546 | $509 | $520 | 52575 |
| &nbsp;&nbsp;&nbsp;Interest Expense, Net | 6424 | 179 | 1546 | 8149 |
| &nbsp;&nbsp;&nbsp;Depreciation | 1301 | 139 | 549 | 1989 |
| &nbsp;&nbsp;&nbsp;Amortization | 3771 |  | 229 | 4000 |
| EBITDA | 63042 | 827 | 2844 | 66713 |
| &nbsp;&nbsp;Stock-Based Compensation | 6565 | (106) | 175 | 6634 |
| &nbsp;&nbsp;Costs Related to the Cybersecurity Incident, Net of Insurance Recoveries | 127 |  |  | 127 |
| Adjusted EBITDA | $69734 | $721 | $3019 | $73474 |

---

(1) Taxes are calculated on a consolidated basis and are not identifiable by Company segment.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| | **June 30, 2024** | **June 30, 2024** | **June 30, 2024** | **June 30, 2024** |
| | Progressive Leasing | Vive | Other | Consolidated Total |
| Net Earnings |  |  |  | $33774 |
| &nbsp;&nbsp;Income Tax Expense<sup>(1)</sup> |  |  |  | 14565 |
| Earnings (Loss) Before Income Tax Expense | $53966 | $631 | $(6258) | 48339 |
| &nbsp;&nbsp;&nbsp;Interest Expense, Net | 7655 |  | (316) | 7339 |
| &nbsp;&nbsp;&nbsp;Depreciation | 1651 | 166 | 441 | 2258 |
| &nbsp;&nbsp;&nbsp;Amortization | 4009 |  | 230 | 4239 |
| EBITDA | 67281 | 797 | (5903) | 62175 |
| &nbsp;&nbsp;Stock-Based Compensation | 6135 | 360 | 600 | 7095 |
| &nbsp;&nbsp;Restructuring Expense | 258 |  | 2628 | 2886 |
| &nbsp;&nbsp;Costs Related to the Cybersecurity Incident | 116 |  |  | 116 |
| Adjusted EBITDA | $73790 | $1157 | $(2675) | $72272 |

---

(1) Taxes are calculated on a consolidated basis and are not identifiable by Company segment.

------

**PROG Holdings, Inc.**

**Non-GAAP Financial Information** 

**Six Month Segment Adjusted EBITDA**

**(In thousands)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| | Progressive Leasing | Vive | Other | Consolidated Total |
| Net Earnings |  |  |  | $73201 |
| &nbsp;&nbsp;Income Tax Benefit<sup>(1)</sup> |  |  |  | 26605 |
| Earnings (Loss) Before Income Tax Benefit | $100171 | $(324) | $(41) | 99806 |
| &nbsp;&nbsp;&nbsp;Interest Expense, Net | 13587 | 365 | 3287 | 17239 |
| &nbsp;&nbsp;&nbsp;Depreciation | 2658 | 286 | 1166 | 4110 |
| &nbsp;&nbsp;&nbsp;Amortization | 7542 |  | 459 | 8001 |
| EBITDA | 123958 | 327 | 4871 | 129156 |
| &nbsp;&nbsp;Stock-Based Compensation | 12872 | 206 | 1458 | 14536 |
| &nbsp;&nbsp;Costs Related to the Cybersecurity Incident, Net of Insurance Recoveries | 109 |  |  | 109 |
| Adjusted EBITDA | $136939 | $533 | $6329 | $143801 |

---

(1) Taxes are calculated on a consolidated basis and are not identifiable by Company segment.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30, 2024** | **June 30, 2024** | **June 30, 2024** | **June 30, 2024** |
| | Progressive Leasing | Vive | Other | Consolidated Total |
| Net Earnings |  |  |  | $55740 |
| &nbsp;&nbsp;Income Tax Expense<sup>(1)</sup> |  |  |  | 24166 |
| Earnings (Loss) Before Income Tax Expense | $89419 | $1549 | $(11062) | 79906 |
| &nbsp;&nbsp;&nbsp;Interest Expense, Net | 16222 |  | (633) | 15589 |
| &nbsp;&nbsp;&nbsp;Depreciation | 3461 | 332 | 833 | 4626 |
| &nbsp;&nbsp;&nbsp;Amortization | 9430 |  | 459 | 9889 |
| EBITDA | 118532 | 1881 | (10403) | 110010 |
| &nbsp;&nbsp;Stock-Based Compensation | 10846 | 698 | 2193 | 13737 |
| &nbsp;&nbsp;Restructuring Expense | 18272 |  | 2628 | 20900 |
| &nbsp;&nbsp;Costs Related to the Cybersecurity Incident | 232 |  |  | 232 |
| Adjusted EBITDA | $147882 | $2579 | $(5582) | $144879 |

---

(1) Taxes are calculated on a consolidated basis and are not identifiable by Company segment.

------

**PROG Holdings, Inc.**

**Non-GAAP Financial Information** 

**Reconciliation of Full Year 2025 Outlook for Adjusted EBITDA**

**(In thousands)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Revised Fiscal Year 2025 Ranges** | **Revised Fiscal Year 2025 Ranges** | **Revised Fiscal Year 2025 Ranges** | **Revised Fiscal Year 2025 Ranges** |
| | Progressive Leasing | Vive | Other | Consolidated Total |
| Estimated Net Earnings |  |  |  | $120000 - $125000 |
| &nbsp;&nbsp;Income Tax Expense<sup>(1)</sup> |  |  |  | 45000 - 49000 |
| Projected Earnings (Loss) Before Income Tax Expense | $179000 - 185000 | $(5000) - $(3500) | $(9000) - $(7500) | 165000 - 174000 |
| &nbsp;&nbsp;&nbsp;Interest Expense, Net | 30000 - 28000 | 1000 | 6000 | 37000 - 35000 |
| &nbsp;&nbsp;&nbsp;Depreciation | 5000 - 6000 | 500 | 2500 | 8000 - 9000 |
| &nbsp;&nbsp;&nbsp;Amortization | 15000 |  | 1000 | 16000 |
| Projected EBITDA | 229000 - 234000 | (3500) - (2000) | 500 - 2000 | 226000 - 234000 |
| &nbsp;&nbsp;&nbsp;Stock-Based Compensation | 26000 - 27000 | 1000 | 2000 - 3000 | 29000 - 31000 |
| Projected Adjusted EBITDA | $255000 - $261000 | $(2500) - $(1000) | $2500 - $5000 | $255000 - $265000 |

---

(1) Taxes are calculated on a consolidated basis and are not identifiable by Company segment.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Previous Fiscal Year 2025 Ranges** | **Previous Fiscal Year 2025 Ranges** | **Previous Fiscal Year 2025 Ranges** | **Previous Fiscal Year 2025 Ranges** |
| | Progressive Leasing | Vive | Other | Consolidated Total |
| Estimated Net Earnings |  |  |  | $109000 - $125000 |
| &nbsp;&nbsp;Income Tax Expense<sup>(1)</sup> |  |  |  | 45000 - 49000 |
| Projected Earnings (Loss) Before Income Tax Expense | $168000 - $185000 | $(5000) - $(3500) | $(9000) - $(7500) | 154000 - 174000 |
| &nbsp;&nbsp;&nbsp;Interest Expense, Net | 30000 - 28000 | 1000 | 6000 | 37000 - 35000 |
| &nbsp;&nbsp;&nbsp;Depreciation | 6000 | 500 | 2500 | 9000 |
| &nbsp;&nbsp;&nbsp;Amortization | 15000 |  | 1000 | 16000 |
| Projected EBITDA | 219000 - 234000 | (3500) - (2000) | 500 - 2000 | 216000 - 234000 |
| &nbsp;&nbsp;&nbsp;Stock-Based Compensation | 26000 - 27000 | 1000 | 2000 - 3000 | 29000 - 31000 |
| Projected Adjusted EBITDA | $245000 - $261000 | $(2500) - $(1000) | $2500 - $5000 | $245000 - $265000 |

---

(1) Taxes are calculated on a consolidated basis and are not identifiable by Company segment.

------

**PROG Holdings, Inc.**

**Non-GAAP Financial Information** 

**Reconciliation of the Three Months Ended September 30, 2025 Outlook for Adjusted EBITDA**

**(In thousands)**

---

| | |
|:---|:---|
| | **Three Months Ended** <br>**September 30, 2025** |
| | Consolidated Total |
| Estimated Net Earnings | $26000 - $28000 |
| &nbsp;&nbsp;Income Tax Expense<sup>(1)</sup> | 11000 - 12000 |
| Projected Earnings Before Income Tax Expense | 37000 - 40000 |
| &nbsp;&nbsp;Interest Expense, Net | 8000 |
| &nbsp;&nbsp;Depreciation | 2000 |
| &nbsp;&nbsp;Amortization | 4000 |
| Projected EBITDA | 51000 - 54000 |
| &nbsp;&nbsp;Stock-Based Compensation | 6000 - 8000 |
| Projected Adjusted EBITDA | $57000 - $62000 |

---

(1) Taxes are calculated on a consolidated basis and are not identifiable by Company segment.

------

**PROG Holdings, Inc.**

**Reconciliation of Full Year 2025 Outlook for Diluted Earnings Per Share**

**to Non-GAAP Diluted Earnings Per Share**

---

| | | |
|:---|:---|:---|
| | **Revised**<br>**Full Year 2025 Ranges** | **Revised**<br>**Full Year 2025 Ranges** |
| | Low | High |
| Projected Diluted Earnings Per Share | $2.91 | $3.06 |
| &nbsp;&nbsp;Add: Projected Intangible Amortization Expense | 0.39 | 0.39 |
| &nbsp;&nbsp;Subtract: Tax Effect on Non-GAAP Adjustments<sup>(1)</sup> | (0.10) | (0.10) |
| Projected Non-GAAP Diluted Earnings Per Share<sup>(2)</sup> | $3.20 | $3.35 |

---

(1)Adjustments are tax-effected using an assumed statutory tax rate of 26%.

(2)In some cases, the sum of individual EPS amounts may not equal total non-GAAP EPS calculations due to rounding.

---

| | | |
|:---|:---|:---|
| | **Previous**<br>**Full Year 2025 Ranges** | **Previous**<br>**Full Year 2025 Ranges** |
| | Low | High |
| Projected Diluted Earnings Per Share | $2.62 | $3.01 |
| &nbsp;&nbsp;Add: Projected Intangible Amortization Expense | 0.39 | 0.39 |
| &nbsp;&nbsp;Subtract: Tax Effect on Non-GAAP Adjustments<sup>(1)</sup> | (0.10) | (0.10) |
| Projected Non-GAAP Diluted Earnings Per Share<sup>(2)</sup> | $2.90 | $3.30 |

---

(1)Adjustments are tax-effected using an assumed statutory tax rate of 26%.

(2)In some cases, the sum of individual EPS amounts may not equal total non-GAAP EPS calculations due to rounding.

------

**PROG Holdings, Inc.**

**Reconciliation of the Three Months Ended September 30, 2025 Outlook for Diluted** 

**Earnings Per Share to Non-GAAP Diluted Earnings Per Share**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended** <br>**September 30, 2025** | **Three Months Ended** <br>**September 30, 2025** |
| | Low | High |
| Projected Diluted Earnings Per Share | $0.63 | $0.68 |
| &nbsp;&nbsp;Add: Projected Intangible Amortization Expense | 0.10 | 0.10 |
| &nbsp;&nbsp;Subtract: Tax Effect on Non-GAAP Adjustments<sup>(1)</sup> | (0.03) | (0.03) |
| Projected Non-GAAP Diluted Earnings Per Share<sup>(2)</sup> | $0.70 | $0.75 |

---

(1)Adjustments are tax-effected using an assumed statutory tax rate of 26%.

(2)In some cases, the sum of individual EPS amounts may not equal total non-GAAP EPS calculations due to rounding.

## Exhibit 99.2

![](ex-992q22025earningssupp001.jpg)

PROG Internal PROG Holdings, Inc. Q2 2025 Earnings Supplement July 23, 2025 Exhibit 99.2

------

![](ex-992q22025earningssupp002.jpg)

2 Statements, estimates and projections in this earnings supplement regarding our business that are not historical facts are "forward-looking statements" that involve risks and uncertainties which could cause actual results to differ materially from those contained in the forward-looking statements. Such forward-looking statements generally can be identified by the use of forward-looking terminology, such as "delivering", "driving", "advancing", "expectations", "estimate", "target", "uncertainty", "outlook", "assumes", "intends" and similar forward-looking terminology. These risks and uncertainties include (i) continued volatility and challenges in the macro-economic environment and their impact on: (a) consumer confidence and customer demand for the merchandise that our retail partners sell, in particular consumer durables, such as home appliances, electronics and furniture; (b) our customers' disposable income and their ability to make the lease and loan payments they owe the Company; (c) the availability of consumer credit; and (d) our overall financial performance and outlook; (ii) the impact of the uncertain macro-economic environment on our proprietary algorithms and decisioning tools that we use to approve customers such that they are no longer indicative of our customers' ability to perform, which in turn may limit the ability of our businesses to manage risk, avoid lease and loan charge-offs and may result in insufficient reserves to cover actual losses; (iii) a large percentage of Progressive Leasing's revenue being concentrated with several key retail partners, and the loss of any of these retail partner relationships materially and adversely affecting several aspects of our performance; (iv) Progressive Leasing being unable to attract additional retail partners and retain and grow its relationships with its existing retail partners, resulting in several aspects of our performance being materially and adversely affected; (v) Progressive Leasing being unable to attract new consumers and retain and grow its relationships with its existing customers materially and adversely affecting several aspects of our performance; (vi) Vive and Four's business models differing significantly from Progressive Leasing's lease-to-own business, which means each of these businesses have different risk profiles; (vii) our efforts to modernize and enhance certain enterprise-wide information management systems and technologies adversely impacting our businesses and operations; (viii) the inability of our businesses to successfully operate in highly and increasingly competitive industries materially and adversely affecting several aspects of our performance; (ix) our business, results of operations, financial condition, and prospects being materially and adversely affected due to Progressive Leasing failing to maintain a consistently high level of consumer satisfaction and trust in its brand; (x) our businesses being subject to extensive federal, state and local laws and regulations, including certain laws and regulations unique to the industries in which our businesses operate, that may subject them to government investigations and significant monetary penalties, remediation expenses and compliance-related burdens that may result in them changing the manner in which they operate, which may be materially adverse to several aspects of our performance; (xi) our performance being materially and adversely affected due to the transactions offered to consumers by our businesses being negatively characterized by federal, state and local government officials, consumer advocacy groups and the media; (xii) our inability to protect confidential, proprietary, or sensitive information, including the confidential information of our customers, being adversely affected by cyber-attacks or similar disruptions, which may result in significant costs, litigation and reputational damage or otherwise have a material adverse impact on several aspects of our performance; (xiii) any significant disruption in our vendors' information technology systems, or disruptions in the information our businesses rely on in their lease and loan decisioning, materially and adversely affecting several aspects of our performance; (xiv) our capital allocation strategy and financial policies, including our current stock repurchase and dividend programs, as well as any potential debt repurchase program not being effective at enhancing shareholder value, or providing other benefits we expect; and (xv) the other risks and uncertainties discussed under "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on February 19, 2025. Statements, estimates and projections in this earnings supplement that are "forward-looking" include without limitation statements, estimates and projections about: (i) growing our balance of share with key retail partners; (ii) the performance of our lease portfolio, including our annual write-offs; (iii) the progress of our Four Technologies business and the benefits we expect from that business; (iv) the advancement of our technology initiatives; (v) our ability to continue achieving sustainable and profitable growth; (vi) our revised full year 2025 outlook and the guidance we provide for the third quarter; and (vii) the impact of the Big Lots, Inc. bankruptcy with respect to Progressive Leasing's 2025 financial performance. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this earnings supplement. Except as required by law, the Company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances after the date of this earnings supplement. Use of Forward-Looking Statements

------

![](ex-992q22025earningssupp003.jpg)

3 PROG Holdings Q2 2025 Headlines • Consolidated revenues of $604.7 million; Net earnings of $38.5 million • Adjusted EBITDA of $73.5 million • Diluted EPS of $0.95; Non-GAAP Diluted EPS of $1.02 • Progressive Leasing GMV of $413.9 million • Four Technologies grows GMV 166.5%; second consecutive quarter of positive pre-tax income

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![](ex-992q22025earningssupp004.jpg)

PROG Internal 4 "Our second quarter results once again demonstrate the resiliency of our Leasing business and our ability to manage through a period of high uncertainty and the loss of an important retail partner to liquidation" said Steve Michaels, President and CEO of PROG Holdings. "The revenue and earnings outperformance compared to guidance reflects strong execution in our Progressive Leasing business, where our teams took deliberate actions to preserve portfolio health while expanding balance of share with key retail partners - even as we navigated notable GMV headwinds. At the same time, Four Technologies delivered another outstanding quarter, with over 200% revenue growth and continued profitability. Four is delivering value to our ecosystem - driving cross-sell opportunities and enhancing customer engagement across our platform." "At Progressive Leasing, we're advancing our technology initiatives - deploying AI-powered tools, optimizing our digital funnel, and enhancing our mobile and web experiences to create a more seamless, personalized customer journey. These improvements are driving greater efficiency and top-of-the funnel engagement, even as we make strategic decisions to moderate GMV growth and maintain portfolio performance within our targeted annual write-off range to fulfill our expectation of sustainable and profitable growth." "I am extremely proud of our team's execution as we strike the balance of executing on growth objectives in our Progressive Leasing business and further developing our other suite of products which holds significant promise," Michaels concluded. Steve Michaels President and CEO, PROG Holdings, Inc. PROG Holdings Executive Commentary

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PROG Internal Adjusted EBITDA in millions 5 $592.2 $606.1 $623.3 $684.1 $604.7 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Non-GAAP EPSRevenue in millions 12.2% 10.5% 10.5% 10.3% 12.2% Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Adjusted EBITDA as a % of PROG Holdings consolidated revenues PROG Holdings Q2 Consolidated Results $72.3 $63.5 $65.7 $70.3 $73.5 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 $0.92 $0.77 $0.80 $0.90 $1.02 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 • Consolidated revenue increased 2.1% year-over-year driven primarily by the growth in our BNPL business, Four Technologies • Non-GAAP EPS was up 10.9% year-over-year • The year-over-year increase in Adjusted EBITDA was a result of an increased contribution from Four Technologies, partially offset by a slight decline in Adjusted EBITDA at Progressive Leasing

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PROG Internal $570.5 $582.6 $592.9 $651.6 $569.7 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Write-Offs\* as a % of Progressive Leasing revenues 6 $454.5 $456.7 $597.5 $402.0 $413.9 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 GMV in millions 7.7% 7.7% 7.9% 7.4% 7.5% Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Adjusted EBITDA as a % of Progressive Leasing revenues Progressive Leasing Q2 Segment Results Revenue in millions \*Provision for lease merchandise write-offs 12.9% 11.4% 11.1% 10.3% 12.2% Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 • Year-over-year GMV was down 8.9% driven by the bankruptcy of a large national partner and tighter decisioning, partially offset by growth in the rest of the business • Revenue was essentially flat year- over-year • Write-offs as a percentage of revenue for the quarter were 7.5%, which is 20 bps lower than the same period last year

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PROG Internal Results

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PROG Internal 8 2025 2024 Revenue $604.7 $592.2 2.1% GAAP Net Earnings $38.5 $33.8 13.9% Adjusted Net Earnings $41.5 $40.2 3.2% Adjusted EBITDA $$73.5 $72.3 1.7% Adjusted EBITDA % 12.2% 12.2% - GAAP Diluted Earnings Per Share $0.95 $0.77 23.4% Non-GAAP Diluted Earnings Per Share $1.02 $0.92 10.9% Three Months Ended June 30 Change All dollar amounts in millions except EPS GAAP to non-GAAP reconciliation tables available in appendix PROG Holdings Consolidated Q2 Results

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PROG Internal 9 2025 2024 GMV $413.9 $454.5 -8.9% Revenue $569.7 $570.5 -0.1% Gross Margin % 32.4% 32.6% -15 bps SG&A % 13.8% 13.0% 80 bps Write-Off %\*\* 7.5% 7.7% -20 bps Adjusted EBITDA $$69.7 $73.8 -5.6% Adjusted EBITDA % 12.2% 12.9% -70 bps Three Months Ended June 30 Change\* \*In some cases, the change column may result in a material difference due to rounding \*\*The provision for lease merchandise write-offs as a percentage of Progressive Leasing revenue All dollar amounts in millions GAAP to non-GAAP reconciliation tables available in appendix Progressive Leasing Q2 Segment Results

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PROG Internal 10\*(Gross debt minus cash and cash equivalents) divided by trailing 12 month adjusted EBITDA PROG Holdings Consolidated Results Shares of Common Stock Repurchased Q2 2025 0.9M Cash and Cash Equivalents As of 6/30/2025 $222.0M Gross Debt As of 6/30/2025 $600M Net Leverage Ratio\* As of 6/30/2025 1.38x Cash Flow From Operations Six Months Ended 6/30/2025 $279.8M Common Stock Repurchase Amount Q2 2025 $25.7M

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PROG Internal 11 PROG Holdings Full-Year 2025 Outlook This outlook assumes a difficult operating environment with soft demand for consumer durable goods, no material changes in the company's decisioning posture, an effective tax rate for Non- GAAP EPS of approximately 27%, and no impact from additional share repurchases.

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PROG Internal 12 PROG Holdings Q3 2025 Outlook This outlook assumes a difficult operating environment with soft demand for consumer durable goods, no material changes in the company's decisioning posture, an effective tax rate for non- GAAP EPS of approximately 27%, and no impact from additional share repurchases.

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PROG Internal

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PROG Internal Non-GAAP net earnings, non-GAAP diluted earnings per share, and adjusted EBITDA are supplemental measures of our performance that are not calculated in accordance with generally accepted accounting principles in the United States ("GAAP"). Non-GAAP diluted earnings per share for the full year 2025 and third quarter 2025 outlook excludes intangible amortization expense. Non- GAAP net earnings and non-GAAP diluted earnings per share for the three and six months ended June 30, 2025, exclude intangible amortization expense and costs related to the cybersecurity incident, net of insurance recoveries. Non-GAAP net earnings and non-GAAP diluted earnings per share for the three and six months ended June 30, 2024 exclude intangible amortization expense, restructuring expenses, costs related to the cybersecurity incident, and accrued interest on an uncertain tax position related to Progressive Leasing's $175 million settlement with the FTC in 2020. The amount for the after-tax non-GAAP adjustment, which is tax effected using our statutory tax rate, can be found in the reconciliation of net earnings and diluted earnings per share to non-GAAP net earnings and diluted earnings per share table in this presentation. The Adjusted EBITDA figures presented in this presentation are calculated as the Company's earnings before interest expense, net, depreciation on property and equipment, amortization of intangible assets and income taxes. Adjusted EBITDA for the full year 2025 and third quarter 2025 outlook excludes stock-based compensation expense. Adjusted EBITDA for the three and six months ended June 30, 2025 excludes stock-based compensation expense and costs related to the cybersecurity incident, net of insurance recoveries. Adjusted EBITDA for the three and six months ended June 30, 2024 excludes stock-based compensation expense, restructuring expenses, and costs related to the cybersecurity incident. The amounts for these pre-tax non-GAAP adjustments can be found in the segment EBITDA tables in this presentation. Management believes that non-GAAP net earnings, non-GAAP diluted earnings per share, and adjusted EBITDA provide relevant and useful information, and are widely used by analysts, investors and competitors in our industry as well as by our management in assessing both consolidated and business unit performance. Non-GAAP net earnings, non-GAAP diluted earnings, and adjusted EBITDA provide management and investors with an understanding of the results from the primary operations of our business by excluding the effects of certain items that generally arose from larger, one-time transactions that are not reflective of the ordinary earnings activity of our operations or transactions that have variability and volatility of the amount. We believe the exclusion of stock-based compensation expense provides for a better comparison of our operating results with our peer companies as the calculations of stock-based compensation vary from period to period and company to company due to different valuation methodologies, subjective assumptions and the variety of award types. This measure may be useful to an investor in evaluating the underlying operating performance of our business. Adjusted EBITDA also provides management and investors with an understanding of one aspect of earnings before the impact of investing and financing charges and income taxes. These measures may be useful to an investor in evaluating our operating performance because the measures: • Are widely used by investors to measure a company's operating performance without regard to items excluded from the calculation of such measure, which can vary substantially from company to company depending upon accounting methods, book value of assets, capital structure and the method by which assets were acquired, among other factors. • Are used by rating agencies, lenders and other parties to evaluate our creditworthiness. • Are used by our management for various purposes, including as a measure of performance of our operating entities and as a basis for strategic planning and forecasting. Non-GAAP financial measures, however, should not be used as a substitute for, or considered superior to, measures of financial performance prepared in accordance with GAAP, such as the Company's GAAP basis net earnings and diluted earnings per share and the GAAP revenues and earnings before income taxes of the Company's segments, which are also included in the presentation. Further, we caution investors that amounts presented in accordance with our definitions of non-GAAP net earnings, non-GAAP diluted earnings per share, and adjusted EBITDA may not be comparable to similar measures disclosed by other companies, because not all companies and analysts calculate these measures in the same manner. 14 Use of Non-GAAP Financial Measures

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PROG Internal Loss of Big Lots: Illustrative 2025 Financial Impact to Progressive Leasing(1) 15 Q1 Q2 Q3 Q4 Full-Year 2025 Lower GMV $31M\*\* $43M $39M $40M $153M Lower Gross Margin\*\*\* ~10-15bps ~25-30bps ~25-30bps ~25-30bps ~20-30bps Higher Write-Offs ~5bps ~5-10bps ~5-10bps ~5-10bps ~5-10bps Overview: Prior to its bankruptcy in September 2024 and the resulting closure of most of its stores, Big Lots, Inc. was a top 5 retail partner for Progressive Leasing. As a result, Progressive Leasing's GMV and financial performance for 2025 has been impacted, particularly with respect to gross margins and write-offs as Big Lots consistently contributed higher gross margin (driven by below-average adoption of 90-day purchase option) and lower write-offs relative to the rest of Progressive Leasing's lease portfolio. The table below is intended to estimate the impact of the Big Lots bankruptcy with respect to certain key operating metrics of Progressive Leasing in 2025. The table assumes Big Lots GMV was flat year-over-year and customer payment performance was consistent with 2024. Under these assumptions, the impact from the Big Lots bankruptcy on 2025 results is comparable to the actual results realized in 2024. \* Excludes revenue and margin impact from 2024 Big Lots GMV that would have occurred irrespective of the bankruptcy; Excludes impact of lower variable SG&A \*\* In Q1 2025, Big Lots contributed $7M GMV, down from $38M in Q1 2024 \*\*\* Gross Margin is calculated as revenue minus depreciation of leased assets. The total margin impact may vary depending on different quarterly GMV assumptions for Big Lots or Progressive Leasing overall, as well as any changes in customer payment performance Illustrative Impact of Big Lots Bankruptcy to Progressive Leasing\* (1) This slide contains statements, estimates and projections that are for illustrative purposes only and reflect various assumptions that are inherently uncertain and subject to significant variability and therefore should not be regarded as a representation by any person that such statements, estimates and projections are accurate. We are providing this information because we believe it improves the comparability of Progressive Leasing's GMV, gross margins and write-offs, allowing investors to evaluate Progressive Leasing's performance and compare it to prior and future periods.

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PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Reconciliation of Net Earnings and Diluted Earnings Per Share to Non- GAAP Net Earnings and Diluted Earnings Per Share (In thousands, except per share amounts)

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PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Reconciliation of Net Earnings and Diluted Earnings Per Share to Non- GAAP Net Earnings and Diluted Earnings Per Share (In thousands, except per share amounts)

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PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Reconciliation of Net Earnings and Diluted Earnings Per Share to Non- GAAP Net Earnings and Diluted Earnings Per Share (In thousands, except per share amounts)

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PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Non-GAAP Financial Information Quarterly Segment EBITDA (In thousands)

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PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Non-GAAP Financial Information Quarterly Segment EBITDA (In thousands)

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PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Non-GAAP Financial Information Quarterly Segment EBITDA (In thousands)

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PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Non-GAAP Financial Information Consolidated & Progressive Leasing Adjusted EBITDA %

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PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Non-GAAP Financial Information Reconciliation of Revised Full Year 2025 Outlook for Adjusted EBITDA (In thousands)

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PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Non-GAAP Financial Information Reconciliation of Previous Full Year 2025 Outlook for Adjusted EBITDA (In thousands)

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PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Non-GAAP Financial Information Reconciliation of the Three Months Ended September 30, 2025 Outlook for Adjusted EBITDA (In thousands)

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PROG Internal GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Non-GAAP Financial Information Reconciliation of Revised Full Year 2025 Outlook for Diluted Earnings Per Share to Non-GAAP Diluted Earnings Per Share

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GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Non-GAAP Financial Information Reconciliation of Previous Full Year 2025 Outlook for Diluted Earnings Per Share to Non-GAAP Diluted Earnings Per Share

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GAAP to non-GAAP Reconciliation Tables PROG Holdings, Inc. Non-GAAP Financial Information Reconciliation of the Three Months Ended September 30, 2025 Outlook for Diluted Earnings Per Share to Non- GAAP Diluted Earnings Per Share

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PROG Internal

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