PROG Holdings Q1 revenue up 6.6% but cuts FY2025 outlook on macro headwinds; Progressive Leasing GMV down 4%

PROG Holdings, Inc.

2025-Q1 EPS reported $0.83 revenue$684,088,000

Q1 revenue $684.1M (+6.6% YoY); net earnings $34.7M vs $22.0M; non-GAAP EPS $0.90 vs $0.91.
Progressive Leasing GMV $402.0M (-4.0% YoY); write-offs 7.4% within target range.
Four Technologies GMV +145.7% YoY; achieved first quarter of positive adjusted EBITDA.
Full-year 2025 outlook reduced: revenue now $2.425B-$2.5B (prev $2.515B-$2.59B); diluted EPS now $2.62-$3.01 (prev $2.82-$3.22).
Q2 2025 guidance: revenue $575M-$595M; non-GAAP EPS $0.75-$0.85.

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