PRA Group Reports Fourth Quarter and Full Year 2025 Results

About this update from Pra Group, Inc.

[{"type":"text","content":" Company Achieves 13% Cash Collections Growth Year-over-Year and $1.2 Billion of Purchases for Full Year 2025 ","length":108,"tagName":"p","attribs":{}},{"type":"text","content":" Net Loss Attributable to PRA Group, Inc. of $305 Million for Full Year 2025, Primarily Driven by a Non-Cash Goodwill Impairment Charge of $413 Million in Q3 2025; Adjusted Net Income Attributable to PRA of $73 million for Full Year 2025 ","length":241,"tagName":"p","attribs":{}},{"type":"text","content":" Continued to Improve U.S. Operations and Build on the Strong Track Record of our European Business ","length":98,"tagName":"p","attribs":{}},{"type":"text","content":" NORFOLK, Va. , Feb. 26, 2026 /PRNewswire/ -- PRA Group, Inc. (Nasdaq: PRAA) (the "Company" or "PRA"), a global leader in acquiring and collecting nonperforming loan portfolios, today reported its financial results for the fourth quarter ("Q4 2025") and full year of 2025.","length":300,"tagName":"p"},{"type":"image","alt":"(PRNewsfoto/PRA Group)","displaySize":"","headline":null,"caption":"(PRNewsfoto/PRA Group)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":181,"url":"https://media.zenfs.com/en/prnewswire.com/4dfdd27a7921ce0f2f0fdf661d619b67"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/wxKJ7wYTyQXJdzqWqOwN0Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTMxOTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/4dfdd27a7921ce0f2f0fdf661d619b67","width":400,"height":181}},"href":"https://mma.prnewswire.com/media/819349/PRA_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":" Q4 2025 Highlights ","length":18,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Total cash collections of $531.7 million, up 13.6%.","length":51,"tagName":"p"}]},{"val":[{"type":"text","content":"Cash efficiency ratio 1 of 61.4%.","length":32,"tagName":"p"}]},{"val":[{"type":"text","content":"Net income attributable to PRA Group, Inc. of $56.5 million, or diluted earnings per share of $1.46.","length":100,"tagName":"p"}]},{"val":[{"type":"text","content":"Total portfolio purchases of $314.8 million.","length":44,"tagName":"p"}]},{"val":[{"type":"text","content":"Record estimated remaining collections ("ERC") 2 of $8.6 billion.","length":74,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":301,"olType":false},{"type":"text","content":" Full Year 2025 Highlights ","length":25,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Total cash collections of $2.1 billion, up 12.8%.","length":49,"tagName":"p"}]},{"val":[{"type":"text","content":"Cash efficiency ratio 1 of 41.8%. Excluding the $412.6 million non-cash goodwill impairment charge recorded in Q3 2025, adjusted cash efficiency ratio 1 of 61.3%.","length":160,"tagName":"p"}]},{"val":[{"type":"text","content":"Net loss attributable to PRA Group, Inc. of $305.1 million, or diluted earnings per share of $(7.79).","length":101,"tagName":"p"}]},{"val":[{"type":"text","content":"Excluding the goodwill impairment charge and gain from the sale of the Company's equity interest in RCB (the servicing company for its nonperforming loan investments in Brazil), adjusted net income attributable to PRA 3 of $72.6 million, or adjusted diluted earnings per share 4 of $1.84.","length":291,"tagName":"p"}]},{"val":[{"type":"text","content":"Total portfolio purchases of $1.2 billion, representing the third highest level of investments in Company history.","length":114,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted EBITDA 5 of $1.3 billion, up 16%.","length":42,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":757,"olType":false},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:TOP;","val":[{"type":"text","content":" 1. 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","length":2,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:TOP;","val":[{"type":"text","content":" Refers to the sum of all future projected cash collections on the Company's nonperforming loan portfolios. ","length":115,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:TOP;","val":[{"type":"text","content":" 3. ","length":2,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:TOP;","val":[{"type":"text","content":" A reconciliation of net income/(loss) attributable to PRA Group, Inc. to adjusted net income/(loss) attributable to PRA can be found at the end of this press release. ","length":171,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:TOP;","val":[{"type":"text","content":" 4. ","length":2,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:TOP;","val":[{"type":"text","content":" A reconciliation of diluted earnings per share to adjusted diluted earnings per share can be found at the end of this press release. ","length":132,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:TOP;","val":[{"type":"text","content":" 5. ","length":2,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:TOP;","val":[{"type":"text","content":" A reconciliation of net income/(loss) attributable to PRA Group, Inc. to Adjusted EBITDA can be found at the end of this press release. ","length":140,"tagName":"p","attribs":{}}]}]}],"length":1073},{"type":"text","content":""PRA made significant progress in 2025. Since stepping into the CEO role in June, we have further strengthened our U.S. operational platform, built on the track record of our European franchise, and developed our longer-term strategy and key financial goals," said Martin Sjolund, president and chief executive officer. "In the U.S., we successfully executed against our near-term strategic priorities, including driving cost savings, reorganizing our operations, creating a new talent hub, and implementing our IT modernization roadmap."","length":558,"tagName":"p","attribs":{}},{"type":"readMore"},{"type":"text","content":""Our adjusted non-GAAP results demonstrate a stable earnings platform, underpinned by a strong and well-diversified capital structure with moderate leverage that has declined in recent quarters. During the fourth quarter, we repurchased $10 million of our shares, bringing the total amount repurchased in 2025 to $20 million, in line with our capital allocation strategy to drive shareholder value."","length":409,"tagName":"p"},{"type":"text","content":""Overall, we are moving in the right direction as we continue to improve our financial profile and focus on delivering higher returns while reducing leverage. Looking ahead, we are introducing our PRA 3.0 strategy to evolve the Company into a high-performing, technology-enabled global allocator of capital. We believe that the actions we are taking will drive stronger financial results and unlock meaningful long-term value for our shareholders."","length":458,"tagName":"p"},{"type":"text","content":" Cash Collections and Revenues The following table presents cash collections by quarter and by source on an as reported and constant currency-adjusted basis:","length":156,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:RIGHT;","val":[{"type":"text","content":" ","length":0,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:RIGHT;","val":[{"type":"text","content":" ","length":0,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:RIGHT;","val":[{"type":"text","content":" 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months, comprised of $167.4 million in the U.S, $194.8 million in Europe, and $15.8 million in other markets.","length":228,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":334,"olType":false},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;BORDER-TOP-STYLE:initial;BORDER-LEFT-STYLE:none;BORDER-RIGHT-STYLE:none;","val":[{"type":"text","content":" 2. ","length":2,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;BORDER-TOP-STYLE:initial;BORDER-LEFT-STYLE:none;BORDER-RIGHT-STYLE:none;","val":[{"type":"text","content":" Reflects total portfolio purchases in South America, Canada and Australia. ","length":74,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;BORDER-TOP-STYLE:initial;BORDER-LEFT-STYLE:none;BORDER-RIGHT-STYLE:none;VERTICAL-ALIGN:TOP;TEXT-ALIGN:LEFT;","val":[{"type":"text","content":" 3. ","length":2,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:TOP;","val":[{"type":"text","content":" Contractual agreements with sellers of nonperforming loans that allow for the purchase of nonperforming loan portfolios at pre-established prices. These amounts represent our estimated forward flow purchases over the next 12 months under the agreements in place based on projections and other factors, including sellers' estimates of future forward flow sales, and are dependent on actual delivery by the sellers and, in some cases, the impact of foreign exchange rate fluctuations. Accordingly, amounts purchased under these agreements may vary significantly. ","length":564,"tagName":"p","attribs":{}}]}]}],"length":642},{"type":"text","content":" Credit Availability ","length":19,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Total availability under the Company's credit facilities as of December 31, 2025 was $1.1 billion, comprised of $825.2 million based on current ERC and subject to debt covenants, and $274.3 million of additional availability subject to borrowing base and debt covenants, including advance rates.","length":304,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":304,"olType":false},{"type":"text","content":" Conference Call Information PRA Group, Inc. will hold a conference call today at 5:00 p.m. ET to discuss its financial and operational results. To listen to a webcast of the call and view the accompanying slides, visit https://ir.pragroup.com/events-and-presentations . To listen by phone, call 646-357-8785 in the U.S. or 1-800-836-8184 outside th...

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