Ezcorp, Inc. · NASDAQ:EZPW
Ezcorp — Q4 2025 Earnings Presentation
37 slides from Ezcorp's earnings presentation, Nov 14, 2025
Slide 1: Fourth Quarter and Full Year Fiscal 2025 Earnings
FOURTH QUARTER AND FULL YEAR FISCAL 2025 EARNINGS NOVEMBER 2025
Slide 2: Preliminary Statements
PRELIMINARY STATEMENTS NASDAQ: EZPW FORWARD LOOKING STATEMENTS ADJUSTED INFORMATION This presentation contains certain forward-looking statements. These statements are based Unless otherwise specified, all amounts in this presentation reflect certain on the company’s current expectations as to the o
Slide 3: Company Overview
COMPANY OVERVIEW NASDAQ: EZPW LEADER IN PAWN AND PRE-OWNED AND RECYCLED RETAIL 1,360 STORES AND 8,500 TEAM MEMBERS • Formed in 1989, EZCORP is a leading provider of pawn transactions and seller of pre-owned and recycled merchandise in the United States and Latin America. • We increase reach and acce
Slide 4: Q4 FY25 Store Growth and Balance Sheet Highlights
Q4 FY25 STORE GROWTH AND BALANCE SHEET HIGHLIGHTS ($ millions, except for store count) STORE COUNT EARNING ASSETS CASH BALANCE (GAAP) 1,360 $549.1 $505.2 1,279 $520.0 $472.1 $469.5 1,231 $490.8 $488.4 $245.2 1,175 $466.0 1,148 $226.8 $207.9 $216.5 $191.9 $293.2 $303.9 $274.1 $282.9 $271.8 $170.5 $17
Slide 5: Q4 FY25 Financial Highlights
Q4 FY25 FINANCIAL HIGHLIGHTS ($ millions, except per share amounts) TOTAL REVENUES PLO $329.7 $318.9 $319.9 $335.9 $293.2 $303.9 $300.0 $294.6 $282.9 $271.8 $274.1 $285.6 $281.4 $261.7 $243.3 $235.8 Q1 FY24 Q1 FY25 Q2 FY24 Q2 FY25 Q3 FY24 Q3 FY25 Q4 FY24 Q4 FY25 Q1 FY24 Q1 FY25 Q2 FY24 Q2 FY25 Q3 FY
Slide 6: Q4 FY25 Revenue & Gross Profit Highlights
Q4 FY25 REVENUE & GROSS PROFIT HIGHLIGHTS ($ millions) TOTAL REVENUE GROSS PROFIT $335.9 $190.2 $185.0 $188.4 $198.0 $300.0 $329.7 $318.9 $319.9 $172.6 $167.6 $166.7 $175.4 $285.6 $281.4 $294.6 70.4 65.2 70.2 72.4 210.3 66.1 60.4 58.9 60.3 193.5 209.8 178.5 199.1 173.6 201.7 179.4 106.4 119.9 107.19
Slide 7: Q4 FY25 Business Strategy Highlights
Q4 FY25 BUSINESS STRATEGY HIGHLIGHTS Progression towards our Strategic Goals STRENGTHEN THE CORE CUSTOMER FOCUS • Delivered exceptional results through our dedication to • Grew EZ+ Rewards members to 6.9M globally, up 26% respectful, customer-centric service • Increased transacting customers by 2%,
Slide 8: Financial Highlights
FINANCIAL HIGHLIGHTS
Slide 9: Q4 FY25 Financial Results – Consolidated
Q4 FY25 FINANCIAL RESULTS – CONSOLIDATED ($ millions) Pawn Loans Outstanding Inventory Merchandise Margin $245.2 $274.1 $303.9 $191.9 35.2% 35.4% Q4 FY24 Q4 FY25 Q4 FY24 Q4 FY25 Q4 FY24 Q4 FY25 • Inventory increased 28%, due to increase in PLO, • PLO up 11%, 9% on a same-store basis, driven by • Mer
Slide 10: Q4 FY25 U.S. Pawn Segment
Q4 FY25 U.S. PAWN SEGMENT ($ millions) Revenues $912.5 $836.1 Revenues Q4 YTD $212.0 $238.9 FY24 FY25 • Total revenues increased $26.9M or 13%, approximately half of which is attributable to scrap sales Earning Assets $419.4 $352.9 $185.7 $138.6 PLO Inventory $214.3 $233.8 Q4 FY24 Q4 FY25 • Earning
Slide 11: Q4 FY25 U.S. Pawn Segment
Q4 FY25 U.S. PAWN SEGMENT 545 stores in 19 states Store Count Average Loan Size (GAAP) 542 545 $209 516 529 $185 515 $170 $159 $142 OR MN 5 8 WI 3 PA 1 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 IA NV 11 IL IN • Acquired 1 store and consolidated 1 • For FY25, average loan size up 13%, 29 UT 2
Slide 12: Q4 FY25 Financial Results – U.S. Pawn
Q4 FY25 FINANCIAL RESULTS – U.S. PAWN ($ millions) Pawn Loans Outstanding Inventory Merchandise Margin $214.3 $233.8 $185.7 36.8% 37.2% $138.6 Q4 FY24 Q4 FY25 Q4 FY24 Q4 FY25 Q4 FY24 Q4 FY25 • PLO up 9% on a total and same-store basis, • Inventory up 34%, driven by growth in PLO, purchases • Merchan
Slide 13: Q4 FY25 Latin America Pawn Segment
Q4 FY25 LATIN AMERICA PAWN SEGMENT ($ millions) Revenues $391.8 $325.5 Q4 YTD $82.5 $96.9 FY24 FY25 • Total revenues increased $14.4M or 17% Earning Assets $129.7 $113.1 $59.6 $53.3 PLO Inventory $59.8 $70.1 Q4 FY24 Q4 FY25 • Earning assets increased 15%, driven by PLO up 17% and inventory up 12% Al
Slide 14: Q4 FY25 Latin America Pawn Segment
Q4 FY25 LATIN AMERICA PAWN SEGMENT 815 stores in 4 countries Store Count Average Loan Size (GAAP) 815 737 $92 702 $84 $88 632 660 $77 $78 Mexico 622 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 • For the quarter, opened 17 stores, • For FY25, average loan size down 4% including 11 in Mexico, 4
Slide 15: Q4 FY25 Financial Results – Latin America Pawn
Q4 FY25 FINANCIAL RESULTS – LATIN AMERICA PAWN ($ millions) Pawn Loans Outstanding Inventory Merchandise Margin $70.1 $59.6 31.5% 31.9% $59.8 $53.3 Q4 FY24 Q4 FY25 Q4 FY24 Q4 FY25 Q4 FY24 Q4 FY25 • PLO up 17%, 9% on a same-store basis, driven by • Inventory up 12%, 4% on a same-store basis • Merchan
Slide 16: Multi-Year Recap FY21 to FY25
MULTI-YEAR RECAP FY21 TO FY25
Slide 17: Consolidated Earnings Performance
CONSOLIDATED EARNINGS PERFORMANCE Earnings Net Income EBITDA • Focus on People, Pawn & Passion and store growth has driven significant earnings and 8% 15% margin improvement. Since FY21: 7% 7% 13% 13% ◦ Net Income is up 5.2x 6% 13% ($ millions) ($ millions) ◦ EBITDA is up 2.8x $111 $191 $85 9% $152
Slide 18: Consolidated PLO and PSC Performance
CONSOLIDATED PLO AND PSC PERFORMANCE • PLO is the key driver of our revenue and Pawn Loans Outstanding Pawn Service Charges earnings • PLO reached a low point in FY20, due to the $304 $483 pay down from government stimulus related $274 $437 to COVID $246 $384 $210 $321 ($ millions) ($ millions) • Si
Slide 19: Consolidated Inventory Management Performance
CONSOLIDATED INVENTORY MANAGEMENT PERFORMANCE Focus on Active Inventory Management Inventory Aged GM Turns Inventory • Improvements to the pawn operating model and team member incentive program were implemented in FY20 and FY21, focused on $245 2.9 driving strong inventory turnover with low aged 2.8
Slide 20: Consolidated Merchandise & Scrap Sales Performance
CONSOLIDATED MERCHANDISE & SCRAP SALES PERFORMANCE Growing Sales and Sales Merchandise Gross Profit Sales Merchandise Sales Merchandise Sales Gross Profit • Record merchandise sales and sales gross profit in FY25 reflect the customer demand for pre- $721 42% 38% $664 36% 36% 35% owned goods and impr
Slide 21: Strategic Investments
STRATEGIC INVESTMENTS CASH CONVERTERS INTERNATIONAL SIMPLE MANAGEMENT GROUP • CCV is an Australian listed consumer lender, pawnbroker and secondhand goods • SMG owns and operates 103 pawn stores in 12 countries — 19 in the retailer with corporate and franchise operated stores across 659 locations in
Slide 22: Appendix
APPENDIX
Slide 23: Record PLO & Revenues Drive Increased Earnings (GAAP)
RECORD PLO & REVENUES DRIVE INCREASED EARNINGS Q4 & Full Year GAAP Results ($ millions, except per share amounts) Q4 %△ Full Year %△ FY25 FY24 B/(W) FY25 FY24 B/(W) Q4 & full year gross profit improved, primarily Pawn Loans Outstanding $ 307.5 $ 274.1 12% $ 307.5 $ 274.1 12% due to improvement in PS
Slide 24: Record PLO & Revenues Drive Increased Earnings (Adjusted)
RECORD PLO & REVENUES DRIVE INCREASED EARNINGS Q4 & Full Year Adjusted Results ($ millions, except per share amounts) Q4 %△ Full Year %△ FY25 FY24 B/(W) FY25 FY24 B/(W) Q4 & full year gross profit improved, primarily due to improvement in PSC, merchandise Pawn Loans Outstanding $ 303.9 $ 274.1 11% $
Slide 25: Definition of Terms
DEFINITION OF TERMS CAGR Compound annual growth rate Cash Converters International Limited, a publicly-traded company based CCV in Australia, in which EZCORP holds a minority interest ESG Environmental, Social and Governance GM General merchandise (non-jewelry) LatAm Latin America, including Mexico,
Slide 26: GAAP to Non-GAAP Reconciliation
GAAP to NON-GAAP RECONCILIATION In addition to the financial information prepared in conformity with U.S. generally accepted accounting You should consider the non-GAAP information in principles (“GAAP”), we provide certain other financial information that is adjusted to exclude the impact of additi
Slide 27: GAAP to Non-GAAP Reconciliation Q4 – Consolidated
GAAP TO NON-GAAP RECONCILIATION Q4 – CONSOLIDATED* ($ millions, except per share amounts) Adjusted Constant Base Item Adjustments Adjusted Base Constant Base Item Adjustments Adjusted Base Currency Impact Currency FY25 FY25 FY25 FY25 FY25 FY24 FY24 FY24 Revenues $ 336.8 $ — $ 336.8 $ (0.9) $ 335.9 $
Slide 28: GAAP to Non-GAAP Reconciliation Q4 – U.S. Pawn
GAAP TO NON-GAAP RECONCILIATION Q4 – U.S. PAWN* ($ millions) Adjusted Constant Base Item Adjustments Adjusted Base Constant Base Item Adjustments Adjusted Base Currency Impact Currency FY25 FY25 FY25 FY25 FY25 FY24 FY24 FY24 Revenues $ 238.9 $ — $ 238.9 $ — $ 238.9 $ 212.0 $ — $ 212.0 PSC Revenues $
Slide 29: GAAP to Non-GAAP Reconciliation Q4 – Latin America Pawn
GAAP TO NON-GAAP RECONCILIATION Q4 – LATIN AMERICA PAWN* ($ millions) Adjusted Constant Base Item Adjustments Adjusted Base Constant Base Item Adjustments Adjusted Base Currency Impact Currency FY25 FY25 FY25 FY25 FY25 FY24 FY24 FY24 Revenues $ 97.9 $ — $ 97.9 $ (0.9) $ 96.9 $ 82.5 $ — $ 82.5 PSC Re
Slide 30: GAAP to Non-GAAP Reconciliation FY – Consolidated
GAAP TO NON-GAAP RECONCILIATION FY – CONSOLIDATED* ($ millions, except per share amounts) Constant Adjusted Base Item Adjustments Adjusted Base Constant Base Item Adjustments Adjusted Base Currency Impact Currency FY25 FY25 FY25 FY25 FY25 FY24 FY24 FY24 Revenues $ 1,274.3 $ — $ 1,274.3 $ 30.0 $ 1,30
Slide 31: GAAP to Non-GAAP Reconciliation FY – U.S. Pawn
GAAP TO NON-GAAP RECONCILIATION FY – U.S. PAWN* ($ millions) Adjusted Constant Base Item Adjustments Adjusted Base Constant Base Item Adjustments Adjusted Base Currency Impact Currency FY25 FY25 FY25 FY25 FY25 FY24 FY24 FY24 Revenues $ 912.5 $ — $ 912.5 $ — $ 912.5 $ 836.1 $ — $ 836.1 PSC Revenues $
Slide 32: GAAP to Non-GAAP Reconciliation FY – Latin America Pawn
GAAP TO NON-GAAP RECONCILIATION FY – LATIN AMERICA PAWN* ($ millions) Adjusted Constant Base Item Adjustments Adjusted Base Constant Base Item Adjustments Adjusted Base Currency Impact Currency FY25 FY25 FY25 FY25 FY25 FY24 FY24 FY24 Revenues $ 361.8 $ — $ 361.8 $ 30.0 $ 391.8 $ 325.5 $ — $ 325.5 PS
Slide 33: Consolidated Growth FY21-FY25 Reconciliation
CONSOLIDATED GROWTH FY21-FY25 RECONCILIATION* ($ millions) FY21 FY21 FY21 FY21 FY21 FY22 FY22 FY22 FY22 FY22 FY23 FY23 FY23 FY23 FY23 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Continuing Ops PBT $ 5.5 $ 6.8 $ (0.8) $ 4.5 $ 16.1 $ 21.2 $ 20.1 $ 13.1 $ 13.2 $ 67.7 $ 24.5 $ (7.3) $ 21.3 $ 13.1 $ 51.
Slide 34: Diluted EPS Calculation
Diluted EPS Calculation ($ millions, except per share amounts) GAAP Adjusted FY25 Q4 FY24 Q4 FY25 FY24 FY25 Q4 FY25 Q4 FY25 FY24 Basic earnings per common share: Net income - Basic $ 26.7 $ 15.2 $ 109.6 $ 83.1 $ 26.8 $ 18.5 $ 110.7 $ 85.3 Weighted shares outstanding - Basic 60.9 54.7 57.5 54.9 60.9
Slide 35: Illustrative Pawn Transaction Cycle
Illustrative Pawn Transaction Cycle Typical Transaction Customer Brings Personal Asset to Pawn Asset Type Gold Chain Store Value assessed $400 Loan to Value 40% to 65% Pawn Loan Purchase (Collateralized with Loan Term 30 to 90 days (Company Buys Asset) Asset) Loan amount $200 Pawn Loan/Purchase 85%/
Slide 36: Constant Currency
CONSTANT CURRENCY Mexican Guatemalan Honduran Australian In addition to the financial information prepared in conformity with generally accepted Peso Quetzal Lempira Dollar accounting principles in the United States (“GAAP”), we provide certain other non-GAAP financial information on a constant curr
Slide 37: Thank You
THANK YOU Contact us Website Investors.ezcorp.com Email Investor_relations@ezcorp.com Phone Number 512.314.2220 Address 2500 Bee Cave Rd., Bldg. 1, Suite 200, Austin, TX 78746 Social Media LinkedIn: EZCORP Instagram: @ezcorp_official, @ezpawnofficial, @valuepawnofficial Facebook: @ezpawn, @valuepawn