EZCORP Inc. Files Q3 2024 10-Q Report

TL;DR

EZCORP Q3 24 10-Q filed. Check financials.

AI Summary

EZCORP Inc. reported its third-quarter results for the period ending June 30, 2024. The company's financial statements indicate a fiscal year end of September 30. Specific financial figures and comparative data for prior periods are available within the full filing.

Why It Matters

This filing provides investors with the latest financial performance and operational details of EZCORP Inc., crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.

Key Players & Entities

• EZCORP INC (company) — Filer
• 20240630 (date) — Period of Report
• 20240731 (date) — Filed as of Date
• 0000876523 (company) — Central Index Key

FAQ

Filing Documents

• ezpw-20240630.htm (10-Q) — 2069KB
• a2024-q310xqex311.htm (EX-31.1) — 11KB
• a2024-q310xqex312.htm (EX-31.2) — 11KB
• a2024-q310xqex321.htm (EX-32.1) — 6KB
• ezpw-20240630_g1.jpg (GRAPHIC) — 21KB
• ezpw-20240630_g2.jpg (GRAPHIC) — 95KB
• ezpw-20240630_g3.jpg (GRAPHIC) — 77KB
• 0000876523-24-000025.txt ( ) — 10899KB
• ezpw-20240630.xsd (EX-101.SCH) — 44KB
• ezpw-20240630_cal.xml (EX-101.CAL) — 117KB
• ezpw-20240630_def.xml (EX-101.DEF) — 293KB
• ezpw-20240630_lab.xml (EX-101.LAB) — 636KB
• ezpw-20240630_pre.xml (EX-101.PRE) — 487KB
• ezpw-20240630_htm.xml (XML) — 2172KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) Condensed Consolidated Balance Sheets as of June 30 , 2024 and 2023 and September 30, 2023 1 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended June 30 , 2024 and 2023 2 Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended June 30 , 2024 and 2023 3 Condensed Consolidated Statements of Stockholders' Equity for the Periods Ended June 30 , 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended June 30 , 2024 and 2023 5 Notes to Condensed Consolidated Financial Statements 6 Note 1: Organization and Summary of Significant Accounting Policies 6 Note 2: Goodwill 7 Note 3: Earnings Per Share 8 Note 4: Leases 9 Note 5: Strategic Investments 11 Note 6: Fair Value Measurements 12 Note 7: Debt 14 Note 8: Common Stock and Stock Compensation 17 Note 9: Commitments and Contingencies 18 Note 10: Segment Information 18 Note 11: Supplemental Consolidated Financial Information 22

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 23

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 36

Controls and Procedures

Item 4. Controls and Procedures 36

— OTHER INFORMATION

PART II — OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 37

Risk Factors

Item 1A. Risk Factors 37

Unregistered Sale of Equity Security and Use of Proceeds

Item 2. Unregistered Sale of Equity Security and Use of Proceeds 37

Other Information

Item 5. Other Information 37

Exhibits

Item 6. Exhibits 38

SIGNATURES

SIGNATURES 39 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS EZCORP, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands, except share and per share amounts) June 30, 2024 June 30, 2023 September 30, 2023 Assets: Current assets: Cash and cash equivalents $ 218,038 $ 237,974 $ 220,595 Restricted cash 9,204 8,549 8,373 Pawn loans 261,720 229,379 245,766 Pawn service charges receivable, net 40,638 34,959 38,885 Inventory, net 171,937 154,944 166,477 Prepaid expenses and other current assets 40,391 44,925 39,623 Total current assets 741,928 710,730 719,719 Investments in unconsolidated affiliates 12,297 10,247 10,987 Other investments 51,220 39,220 36,220 Property and equipment, net 59,926 61,849 68,096 Right-of-use assets, net 235,030 243,100 234,388 Goodwill 308,847 302,120 302,372 Intangible assets, net 60,164 60,009 58,216 Deferred tax asset, net 25,245 19,610 25,702 Other assets, net 15,506 10,793 12,011 Total assets $ 1,510,163 $ 1,457,678 $ 1,467,711 Liabilities and equity: Current liabilities: Current maturities of long-term debt, net $ 137,326 $ — $ 34,265 Accounts payable, accrued expenses and other current liabilities 69,742 74,458 81,605 Customer layaway deposits 20,067 18,595 18,920 Operating lease liabilities, current 58,905 56,919 57,182 Total current liabilities 286,040 149,972 191,972 Long-term debt, net 223,998 359,686 325,847 Deferred tax liability, net 416 349 435 Operating lease liabilities 188,996 197,499 193,187 Other long-term liabilities 9,258 11,130 10,502 Total liabilities 708,708 718,636 721,943 Commitments and contingencies (Note 9) Stockholders' equity: Class A Non-voting Common Stock, par value $ 0.01 per share; shares authorized: 100 million; issued and outstanding: 51,771,917 as of June 30, 2024; 52,214,761 as of June 30, 2023; and 51,869,569 as of September 30, 2023 518 522 519 Class B Voting Common Stock, convertible, par value $ 0.01 per share; shares authorized: 3 million; issued and outstanding: 2

View Full Filing

View this 10-Q filing on SEC EDGAR