PROG Holdings Inc 2025年季度报告

SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C.20549 FORM10-Q________________________________ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDEDSeptember30, 2025OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934FOR THE TRANSITION PERIOD FROMTOCOMMISSION FILE NUMBER1-39628 PROG HOLDINGS, INC. (Exact name of registrant as specified in its charter)_________________________________ Georgia(State or other jurisdiction ofincorporation or organization) (385)351-1369(Registrant’s telephone number, including area code) Securities registered pursuant to Section12(b) of the Act: Title of each classTrading SymbolName of each exchange on which registeredCommon Stock, $0.50 Par ValuePRGNew York Stock Exchange Not Applicable(Former name, former address and former fiscal year, if changed since last report)___________________________________ Indicate by check mark whether registrant (l)has filed all reports required to be filed by Section13 or 15 (d)of the SecuritiesExchange Act of l934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2)has been subject to such filing requirements for the past 90 days.Yes☒No☐Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during thepreceding 12 months (or for such shorter period that the registrant was required to submit and post such files).Yes☒No☐Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definition of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 ofthe Exchange Act. (Check one): Large Accelerated Filer☒AcceleratedFiler☐Non-Accelerated Filer☐(Do not check if a smaller reporting company)SmallerReportingCompany☐Emerging Growth Company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. Shares Outstanding as ofOctober17, 202539,545,593 PROG HOLDINGS, INC.INDEX PART I. FINANCIAL INFORMATION Item 1. Financial Statements3Condensed Consolidated Balance Sheets –September30, 2025 (Unaudited) and December 31, 20243Condensed Consolidated Statements of Earnings (Unaudited) – Three andNineMonths EndedSeptember30, 2025 and20244Condensed Consolidated Statements of Cash Flows (Unaudited) –NineMonths EndedSeptember30, 2025 and 20245Notes to Condensed Consolidated Financial Statements (Unaudited)6Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations26Item 3. Quantitative and Qualitative Disclosures About Market Risk39Item 4. Controls and Procedures40PART II. OTHER INFORMATIONItem 1. Legal Proceedings41Item 1A. Risk Factors41Item 2. Unregistered Sales of Equity Securities and Use of Proceeds41Item 3. Defaults Upon Senior Securities41Item 4. Mine Safety Disclosures41Item 5. Other Information41Item 6. Exhibits42Signatures43 PROG HOLDINGS, INC.CONDENSED CONSOLIDATED BALANCE SHEETS PROG HOLDINGS, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited) PROG HOLDINGS, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) NOTE 1.BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business PROG Holdings, Inc. ("we," "our," "us," the "Company," or "PROG Holdings") is a financial technology holding company thatprovides transparent and competitive payment options to consumers. As of September 30, 2025, PROG Holdings hastworeportablesegments: (i) Progressive Leasing, an in-store, app-based, and e-commerce point-of-sale lease-to-own solutions provider; and (ii) ViveFinancial ("Vive"), an omnichannel provider of second-look revolving credit products. Our Progressive Leasing segment provides consumers with lease-purchase solutions through its point-of-sale partner locations and e-commerce website partners inthe United States and Puerto Rico (collectively, "POS partners"). It does so by purchasing merchandisefrom the POS partners desired by customers and, in turn, leasing that merchandise to the customers through a cancellable lease-to-owntransaction. Progressive Leasing has no stores of its own, but rather offers lease-purchase solutions to the customers of traditional ande-commerce retailers. Our Vive segment primarily serves custome