PROG (PRG) investor relations material

Executive summary

• Q3 continuing-operations revenue rose 25.6% YoY to $725.8M; GMV grew 58.9% to $912.0M, and net earnings reached $37.5M.

• Adjusted EBITDA increased 21.8% to $80.0M; non-GAAP diluted EPS rose 21.8% to $1.06.

• Four and Purchasing Power growth offset pressure in Progressive Leasing; a more cautious consumer outlook prompted lower FY26 guidance.

Financial highlights

• Adjusted EBITDA was $80.0M, or 11.0% of revenue, versus $65.7M and 11.4% in Q3 2025.

• GAAP net earnings from continuing operations were $37.5M, up 16.1%; diluted EPS was $0.92 versus $0.80.

• Adjusted net earnings were $43.0M, up 22.2%; non-GAAP diluted EPS was $1.06 versus $0.87.

• Nine-month revenue rose 19.3% to $2.188B; operating cash flow from continuing operations totaled $392.7M.

Outlook and guidance

• Revised FY26 revenue guidance is $3.015B–$3.050B and adjusted EBITDA $345M–$355M, down from prior ranges of $3.025B–$3.100B and $355M–$375M.

• Revised FY26 GAAP diluted EPS guidance is $3.78–$3.93 and non-GAAP diluted EPS $4.70–$4.85, versus prior ranges of $3.82–$4.06 and $4.75–$5.00.

• Q4 outlook: revenue $827M–$862M, adjusted EBITDA $86M–$96M, diluted EPS $1.04–$1.16 and non-GAAP diluted EPS $1.20–$1.32.

• Guidance assumes current consumer pressures, no material change in decisioning or meaningful rise in customer unemployment, a ~26% non-GAAP EPS tax rate and a planned $100M Q4 ASR; execution is not assured.

• Progressive Leasing revenue is expected to grow in Q4; full-year lease write-offs are expected near the high end of the 6%–8% target range.