Slide 1: Fourth Quarter and Full Year Fiscal 2024 Earnings
FOURTH QUARTER AND FULL YEAR FISCAL 2024 EARNINGS NOVEMBER 2024
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 1,279 STORES AND OVER 8,000 TEAM MEMBERS • Formed in 1989, EZCORP has grown into a leading provider of pawn transactions and seller of pre-owned and recycled merchandise in the United States and Latin America. • We increa
Slide 4: Q4 FY24 Store Growth and Balance Sheet Highlights
Q4 FY24 STORE GROWTH AND BALANCE SHEET HIGHLIGHTS ($ millions, except for store count) STORE COUNT EARNING ASSETS CASH BALANCE (GAAP) 1,279 $476.5 $229.1 1,231 $220.6 $218.5 $218.0 1,175 $439.3 1,148 $412.3 $197.3 $399.3 $392.7 $174.6 $170.5 1,005 $166.5 $160.9 $160.7 $264.7 $279.2 $245.8 $238.4 $23
Slide 5: Q4 FY24 Financial Highlights
Q4 FY24 FINANCIAL HIGHLIGHTS ($ millions, except per share amounts) TOTAL REVENUES PLO $292.9 $300.9 $279.2 $280.2 $279.8 $264.7 $264.3 $258.4 $255.8 $270.5 $238.4 $245.8 $232.0 $229.4 $209.9 $206.1 Q1 FY23 Q1 FY24 Q2 FY23 Q2 FY24 Q3 FY23 Q3 FY24 Q4 FY23 Q4 FY24 Q1 FY23 Q1 FY24 Q2 FY23 Q2 FY24 Q3 FY
Slide 6: Q4 FY24 Business Strategy Highlights
Q4 FY24 BUSINESS STRATEGY HIGHLIGHTS Progression towards our Strategic Goals STRENGTHEN THE CORE CUSTOMER FOCUS • Grew LatAm gross profit by 20% through improvements to • Grew EZ+ Rewards members to 5.4M globally, up 44% automated pricing and loan guidance and enhanced focus on • Increased transacti
Slide 7: Financial Highlights
FINANCIAL HIGHLIGHTS
Slide 8: Q4 FY24 Financial Results – Consolidated
Q4 FY24 FINANCIAL RESULTS – CONSOLIDATED ($ millions) Pawn Loans Outstanding Inventory Merchandise Margin $245.8 $279.2 $197.3 36% 35% $166.5 Q4 FY23 Q4 FY24 Q4 FY23 Q4 FY24 Q4 FY23 Q4 FY24 • PLO balance up 14%, 13% on a same-store basis, • Inventory increased 18%, aligned with PLO increase • Mercha
Slide 9: Q4 FY24 U.S. Pawn Segment
Q4 FY24 U.S. PAWN SEGMENT ($ millions) Revenues $836.1 $761.9 Revenues Q4 YTD $194.5 $212.0 FY23 FY24 • Total revenues increased $17.5M or 9% Earning Assets $352.9 $319.5 $138.6 $128.9 PLO $214.3 Inventory $190.6 Q4 FY23 Q4 FY24 • Earning assets increased 10%, driven by PLO increase of 12% and inven
Slide 10: Q4 FY24 U.S. Pawn Segment
Q4 FY24 U.S. PAWN SEGMENT 542 stores in 19 states Store Count Average Loan Size (GAAP) 529 542 516 515 $185 505 $159 $170 $142 $116 OR MN 5 8 WI 3 PA FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 IA 1 NV 11 IN • Acquired 1 store in the quarter • Average loan size up 9%, driven IL 29 UT 20 15 pri
Slide 11: Q4 FY24 Financial Results – U.S. Pawn
Q4 FY24 FINANCIAL RESULTS – U.S. PAWN ($ millions) Pawn Loans Outstanding Inventory Merchandise Margin $190.6 $214.3 $128.9 $138.6 38% 37% Q4 FY23 Q4 FY24 Q4 FY23 Q4 FY24 Q4 FY23 Q4 FY24 • PLO balance up 12% on a total and same-store • Inventory increased 8% in line with PLO increase • Merchandise s
Slide 12: Q4 FY24 Latin America Pawn Segment
Q4 FY24 LATIN AMERICA PAWN SEGMENT ($ millions) Revenues $317.7 $287.1 Q4 YTD $76.0 $88.9 FY23 FY24 • Total revenues increased $12.9M or 17% Earning Assets $123.6 $92.7 $58.6 $37.6 PLO Inventory $55.1 $64.9 Q4 FY23 Q4 FY24 • Earning assets increased 33%, driven by PLO up 18% and inventory up 56% All
Slide 13: Q4 FY24 Latin America Pawn Segment
Q4 FY24 LATIN AMERICA PAWN SEGMENT 737 stores in 4 countries Store Count Average Loan Size (GAAP) 737 702 632 660 $92 $77 $78 $84 $73 500 Mexico 565 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 • Opened 11 stores in Mexico, 8 stores in • Average loan size up 10% (7% on a Guatemala, and 1 store
Slide 14: Q4 FY24 Financial Results – Latin America Pawn
Q4 FY24 FINANCIAL RESULTS – LATIN AMERICA PAWN ($ millions) Pawn Loans Outstanding Inventory Merchandise Margin $64.9 $58.6 30% 32% $55.1 $37.6 Q4 FY23 Q4 FY24 Q4 FY23 Q4 FY24 Q4 FY23 Q4 FY24 • PLO balance up 18%, 16% on a same-store basis, • Inventory increased 56% driven by PLO and lower • Merchan
Slide 15: Strategy Recap FY21 to FY24
EZCORP STRATEGY RECAP FY21 TO FY24
Slide 16: FY21 to FY24 Strategy Recap
FY21 TO FY24 STRATEGY RECAP Focused Execution on Core Strategic Pillars and Foundational Capabilities Delivered Measurable Results • Transitioned in FY20 to a seasoned management team deeply committed to and passionate about the pawn business • Completed a comprehensive strategic review across all b
Slide 17: People, Pawn & Passion
PEOPLE, PAWN & PASSION Our commitment to improving culture and pawn fundamentals drove record-setting FY24 results • Invested in building and retaining engaged store teams Engagement Survey Results ◦ Enhanced career path training and implemented tools for individual development plans ◦ Introduced ad
Slide 18: Consolidated Earnings Performance
CONSOLIDATED EARNINGS PERFORMANCE Earnings Net Income EBITDA • Focus on People, Pawn & Passion and store growth has driven significant earnings and 7% 13% 7% 13% 13% margin improvement. Since FY20: 6% ◦ Net Income is up 3.9x ($ millions) ($ millions) 9% ◦ EBITDA is up 2.3x $85 8% $132 $151 3% $71 $1
Slide 19: Consolidated PLO and PSC Performance
CONSOLIDATED PLO AND PSC PERFORMANCE ($ millions) • PLO is the key driver of our revenue and Pawn Loans Outstanding Pawn Service Charges earnings $279 $434 • PLO reached a low point in FY20, due to the $246 $384 $210 $321 pay down from government stimulus related $176 $273 $260 $131 to COVID • Since
Slide 20: Consolidated Inventory Management Performance
CONSOLIDATED INVENTORY MANAGEMENT PERFORMANCE ($ millions) Focus on Active Inventory Management Inventory Aged GM Turns Inventory • In FY19 PLO/Inventory ratio was 1.1x, aged GM 1.6 was 5.5%, and inventory turnover was 2.0x 1.5 2.9 1.4 1.4 1.4 2.8 2.8 2.8 • Improvements to the pawn operating model a
Slide 21: Consolidated Sales Performance
CONSOLIDATED SALES PERFORMANCE ($ millions) Growing Sales and Sales Merchandise Gross Profit Sales Sales Gross Profit Merchandise Margin • Record merchandise sales and sales gross profit in FY24 reflect the improvements made to our $234 42% $221 $203 38% operating model over the past 4 years $185 33
Slide 22: Customer Engagement Growth
CUSTOMER ENGAGEMENT GROWTH Sustained Growth in Customer Engagement driving Increased Earnings EZ+ Rewards Cumulative EZ+ Rewards Members % EZ+ Members of Transacting Customers ▪ Launched EZ+ Rewards across all geographies improving customer engagement and retention 5.4 75% 77% 67% ▪ Optimized progra
Slide 23: Consolidated Store Growth and Balance Sheet
CONSOLIDATED STORE GROWTH AND BALANCE SHEET ($ millions, except for store count) Store Count STORE COUNT EARNING ASSETS • In the last 4 years we have increased store count by 274 stores by: 1,231 1,279 $476 1,148 1,175 $412 ◦ Acquiring 167 stores; 128 in LatAm and 39 in the 1,005 $362 U.S. $287 ◦ Op
Slide 24: U.S. Pawn Segment Highlights
U.S. PAWN SEGMENT HIGHLIGHTS ($ millions) Pawn Loans Outstanding Gross Profit Merchandise Margin $214 $501 44% 41% $191 $456 36% 38% 37% $163 $406 $361 $350 $136 $106 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 • Since FY20, PLO up 102% and on a per store • Since FY20,
Slide 25: Latin America Pawn Segment Highlights
LATIN AMERICA PAWN SEGMENT HIGHLIGHTS ($ millions) Pawn Loans Outstanding Gross Profit Merchandise Margin $65 $177 35% 30% 31% 32% $55 $153 $47 $122 22% $40 $100 $87 $25 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 • Since FY20, PLO up 160% and on a per store • Since FY
Slide 26: Strategic Investments
STRATEGIC INVESTMENTS CASH CONVERTERS INTERNATIONAL SIMPLE MANAGEMENT GROUP • CCV is an Australian listed consumer lender, pawnbroker and secondhand goods • SMG owns and operates 102 pawn stores in 13 countries — 44 in the retailer with corporate and franchise operated stores across 669 locations in
Slide 27: FY24 Sustainability Highlights
FY24 SUSTAINABILITY HIGHLIGHTS Providing environmentally friendly retail experiences to our customers through a network of neighborhood recommerce stores Contributing to a Circular Economy FY24 U.S. Race and Ethnicity Demographics Sold over 5.2M pre-owned general merchandise and jewelry items procur
Slide 28: Appendix
APPENDIX
Slide 29: Record PLO & Revenues: Q4 & Full Year GAAP Results
RECORD PLO & REVENUES Q4 & Full Year GAAP Results ($ millions, except per share amounts) Q4 %△ Full Year %△ FY24 FY23 B/(W) FY24 FY23 B/(W) Q4 & full year gross profit improved, primarily Pawn Loans Outstanding $ 274.1 $ 245.8 12% $ 274.1 $ 245.8 12% due to higher PSC, driven by higher average Total
Slide 30: Record PLO & Revenues Drive Increased Earnings
RECORD PLO & REVENUES DRIVE INCREASED EARNINGS Q4 & Full Year Adjusted Results ($ millions, except per share amounts) Q4 %△ Full Year %△ FY24 FY23 B/(W) FY24 FY23 B/(W) Q4 & full year gross profit improved, primarily due to higher PSC, driven by higher average Pawn Loans Outstanding $ 279.2 $ 245.8
Slide 31: 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 32: 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 33: 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 FY24 FY24 FY24 FY24 FY24 FY23 FY23 FY23 Revenues $ 294.6 $ — $ 294.6 $ 6.4 $ 300.9 $ 2
Slide 34: 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 FY24 FY24 FY24 FY24 FY24 FY23 FY23 FY23 Revenues $ 212.0 $ — $ 212.0 $ — $ 212.0 $ 194.5 $ — $ 194.5 PSC Revenues $
Slide 35: 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 FY24 FY24 FY24 FY24 FY24 FY23 FY23 FY23 Revenues $ 82.5 $ — $ 82.5 $ 6.4 $ 88.9 $ 76.0 $ — $ 76.0 PSC Reve
Slide 36: 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 FY24 FY24 FY24 FY24 FY24 FY23 FY23 FY23 Revenues $ 1,161.6 $ — $ 1,161.6 $ (7.8) $ 1,1
Slide 37: 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 FY24 FY24 FY24 FY24 FY24 FY23 FY23 FY23 Revenues $ 836.1 $ — $ 836.1 $ — $ 836.1 $ 761.9 $ — $ 761.9 PSC Revenues $
Slide 38: 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 FY24 FY24 FY24 FY24 FY24 FY23 FY23 FY23 Revenues $ 325.5 $ — $ 325.5 $ (7.8) $ 317.7 $ 287.1 $ — $ 287.1 P
Slide 39: Consolidated Growth FY20-FY24 Reconciliation
CONSOLIDATED GROWTH FY20-FY24 RECONCILIATION* ($ millions) FY20 FY20 FY20 FY20 FY20 FY21 FY21 FY21 FY21 FY21 FY22 FY22 FY22 FY22 FY22 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Continuing Ops PBT $ 3.0 $ (34.2) $ (10.2) $ (28.7) $ (70.1) $ 5.5 $ 6.8 $ (0.8) $ 4.5 $ 16.1 $ 21.2 $ 20.1 $ 13.1 $ 13.2
Slide 40: Pawn Businesses FY20-FY24 Reconciliation
PAWN BUSINESSES FY20-FY24 RECONCILIATION* ($ millions) FY20 FY20 FY20 FY20 FY20 FY21 FY21 FY21 FY21 FY21 FY22 FY22 FY22 FY22 FY22 FY23 FY23 FY23 FY23 FY23 FY24 FY24 FY24 FY24 FY24 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY U.S. Pawn PBT $ 28.6 $ 20.4 $ 16.5 $ 7.7 $ 73
Slide 41: Diluted EPS Calculation
Diluted EPS Calculation ($ millions, except per share amounts) GAAP Adjusted FY24 Q4 FY23 Q4 FY24 FY23 FY24 Q4 FY23 Q4 FY24 FY23 Basic earnings per common share: Net income - Basic (Adjusted) $ 15.2 $ 10.3 $ 83.1 $ 38.5 $ 18.9 $ 17.3 $ 84.7 $ 70.9 Weighted shares outstanding - Basic 54.7 55.0 54.9 5
Slide 42: 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 43: 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