secwatch.observer — SEC 8-K summary
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Issuer:     PROG Holdings, Inc. (PRG)
CIK:        0001808834
Form:       8-K
Filed at:   2025-04-23T23:59:59+00:00
Accession:  0001808834-25-000053
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1808834/000180883425000053/0001808834-25-000053-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1808834/000180883425000053/prg-20250423.htm
  HTML page:      https://secwatch.observer/filing/0001808834-25-000053

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer