EZCORP disclosed that its fiscal 2025 full‑year revenue reached $1,274.3 million, a 10.4% increase from $1,161.6 million in 2024, and that pawn loans outstanding (PLO) hit an all‑time high of $307.5 million. Adjusted EBITDA climbed 26% to $191.2 million, while adjusted diluted earnings per share rose 27% to $1.43, beating the consensus estimate of $1.12 for the year and $0.29–$0.30 for the fourth quarter by $0.04–$0.05 per share.
The company expanded its footprint by 81 stores during 2025, adding 40 de‑novo locations and acquiring 52 existing stores, while consolidating 11 sites. The total count now stands at 1,360 stores across the United States, Mexico, and other Latin American markets, a growth that supports the record PLO and underpins the earnings momentum.
Revenue growth was driven by robust demand in both the U.S. and Latin American pawn segments. Management highlighted that the Mexico market, in particular, contributed a higher‑ticket mix and stronger collateral quality, which helped lift the overall PLO. Digital initiatives such as EZ+ Rewards also accelerated customer acquisition and repeat business, adding to the top‑line lift.
Gross margin for the year remained steady at 35%, with jewelry scrap sales margin improving significantly. The combination of higher‑margin digital services, disciplined cost management, and the operating leverage of the platform enabled the 26% rise in adjusted EBITDA. The company’s cost base grew modestly, but the scale of revenue expansion offset the increase, preserving margin expansion.
CEO Lachie Given said, “Fiscal 2025 was another exceptional year for EZCORP, with record full‑year revenue and all‑time high PLO. This superior performance reflects resilient demand for immediate cash solutions and high‑quality, cost‑effective secondhand goods.” He added that the company’s platform scale and team expertise drove the operating leverage that translated into the 27% EPS growth. Management reiterated its guidance for the next fiscal year, maintaining revenue and EPS targets while signaling confidence in continued demand and margin stability.
The market reaction to the results was muted. While the earnings beat and record revenue were noted positively, analysts expressed caution over forward guidance and broader macro conditions, leading to a balanced overall response.
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