)
Edge20 Feb 2026
Dollar General: The Rural Retailer Playbook
How Dollar General built a small-box empire across rural America, scaling value and convenience into one of retail's most durable business models.
PROG
PROG (PRG) investor relations material
PROG Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary18 Feb, 2026
Executive summary
2025 results met or exceeded guidance despite a challenging retail environment and the bankruptcy of a major retail partner, with deliberate tightening in leasing to protect portfolio health resulting in an 8.6% year-over-year decline in leasing GMV.
Strategic actions included the sale of the Vive portfolio and the acquisition of Purchasing Power to expand offerings and simplify the business.
Four Technologies (BNPL) delivered triple-digit GMV and revenue growth for the ninth consecutive quarter, and MoneyApp approached breakeven adjusted EBITDA by year-end.
Direct-to-consumer and e-commerce channels, including PROG Marketplace, saw strong growth, with PROG Marketplace GMV nearly tripling.
The business is now managed as a multiproduct ecosystem, with consolidated GMV up 12.1% in 2025, driven by Four's 144% growth.
Financial highlights
Q4 2025 consolidated revenues were $574.6 million, down 5.2% year-over-year, with gross margin up 284 bps to 36.3%.
Full-year consolidated adjusted EBITDA from continuing operations was $269 million, flat year-over-year and above the high end of guidance.
Non-GAAP diluted EPS from continuing operations was $3.51, exceeding both October and original February guidance.
Progressive Leasing Q4 GMV declined 10.6% year-over-year, but digital channels and PROG Marketplace GMV grew 187%.
Four generated $736 million GMV in 2025 (144% growth) and $10 million adjusted EBITDA, a turnaround from a loss in 2024.
Outlook and guidance
2026 consolidated revenue expected at $3.02–$3.14 billion, adjusted EBITDA at $320–$350 million, and non-GAAP EPS at $4.00–$4.45.
Progressive Leasing faces revenue headwinds in H1 2026 due to a 9.4% smaller lease portfolio, but trends are expected to improve in H2.
Purchasing Power is expected to contribute $680–$730 million in revenue and $50–$60 million in adjusted EBITDA, with Q1 seasonally breakeven.
Four Technologies 2026 revenue: $125M–$140M; adjusted EBITDA: $17.5M–$22.5M.
Q1 2026 revenue outlook: $715M–$745M; non-GAAP diluted EPS: $0.70–$0.90.
Quantify large partner bankruptcy impact on PL?
How does Purchasing Power perform in soft demand?
Capital allocation priorities post-Purchasing Power deal
Purchasing Power: Path to double-digit EBITDA margin?
Four Technologies: Drivers of margin expansion?
Tax refunds: Impact on Leasing portfolio health?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next PROG earnings date
Investor Day 202610 Mar, 2026
PROG
Next PROG earnings date
Investor Day 202610 Mar, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
PROG Holdings, Inc. operates as an omnichannel provider of lease-purchase solutions to underserved and credit-challenged customers. The company offers home furnishings and appliances, mattresses and accessories, electronics, and lawn and garden products through lease-purchase agreements under the Progressive Leasing name. As of February 26, 2020, it operated approximately 18 offices in the United States. The company was founded in 1955 and is headquartered in Draper, Utah.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage