---
schema_version: "secwatch.filing_event.v1"
accession: "0001185348-23-000017"
form_type: "8-K"
ticker: "PRAA"
cik: "0001185348"
company_name: "PRA GROUP INC"
filed_at: "2023-05-08T23:59:59+00:00"
generated_at: "2026-06-15T12:19:03.952065+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# PRA Group reports Q1 loss of $58.6M; EPS $(1.50) on falling collections and revenue

## Summary
- Net loss $58.6M; diluted EPS $(1.50) vs net income $40.0M and EPS $0.97 in Q1 2022.
- Total cash collections $411.3M, down 14.5% YoY; U.S. call center collections down 30.2%.
- Portfolio purchases $230.2M, up 56% YoY; total portfolio revenue fell to $151.3M from $237.4M.
- Appointed Vikram Atal as president and CEO (March 2023) and Owen James as global investments officer (April 2023).
- Operating expenses up 12.1% driven by $7.5M severance and $7.6M litigation costs.

## SEC filing metadata
- accession: 0001185348-23-000017
- form_type: 8-K
- ticker: PRAA
- cik: 0001185348
- company_name: PRA GROUP INC
- filed_at: 2023-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1185348/000118534823000017/0001185348-23-000017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1185348/000118534823000017/praa-20230508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185348-23-000017
- JSON: https://secwatch.observer/filing/0001185348-23-000017.json
- Plain text: https://secwatch.observer/filing/0001185348-23-000017.txt

## Key facts
- Earnings Releases
  PRA GROUP INC reported first quarter of 2023 results: net income $ (58,629), EPS $(1.50).
  - Period: first quarter of 2023
  - Net income: $ (58,629)
  - EPS: $(1.50)
  - Result: reported results
  source text: On May 8, 2023, PRA Group, Inc. (the “Company”) issued a press release announcing its first quarter 2023 results. A copy of the press release is furnished as Exhibit 99.1 to this Form 8-K and is incorporated into this Item 2.02 by reference.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1185348/000118534823000017/0001185348-23-000017-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.