---
schema_version: "secwatch.filing_event.v1"
accession: "0001808834-25-000053"
form_type: "8-K"
ticker: "PRG"
cik: "0001808834"
company_name: "PROG Holdings, Inc."
filed_at: "2025-04-23T23:59:59+00:00"
generated_at: "2026-05-23T08:21:05.146505+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001808834-25-000053
- form_type: 8-K
- ticker: PRG
- cik: 0001808834
- company_name: PROG Holdings, Inc.
- filed_at: 2025-04-23T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1808834/000180883425000053/0001808834-25-000053-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1808834/000180883425000053/prg-20250423.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001808834-25-000053
- JSON: https://secwatch.observer/filing/0001808834-25-000053.json
- Plain text: https://secwatch.observer/filing/0001808834-25-000053.txt

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