secwatch.observer — SEC 8-K summary
======================================

Issuer:     PROG Holdings, Inc. (PRG)
CIK:        0001808834
Form:       8-K
Filed at:   2025-10-22T23:59:59+00:00
Accession:  0001808834-25-000110
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1808834/000180883425000110/0001808834-25-000110-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1808834/000180883425000110/prg-20251022.htm
  HTML page:      https://secwatch.observer/filing/0001808834-25-000110

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