PROG Holdings sells $165M Vive credit card portfolio to Atlanticus; Q3 revenue $595.1M

PROG Holdings, Inc.

Sold ~$165M in credit card/loan receivables to Atlanticus subsidiary for ~$150M cash; 3-year non-compete.
Q3 consolidated revenue $595.1M (-1.8% YoY); net earnings $33.1M vs $84.0M (prior year included $53.6M tax benefit).
Adjusted EBITDA $67.0M (11.3% margin); Non-GAAP diluted EPS $0.90 (+16.9% YoY); diluted GAAP EPS $0.82.
Progressive Leasing GMV $410.9M (-10% YoY); Four Technologies GMV +162.8% with third consecutive positive EBITDA quarter.
Full-year 2025 revenue guidance cut to $2.41B-$2.435B; Q4 revenue outlook $575M-$590M; Vive excluded as discontinued ops.

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