EZPW · EZCORP, Inc.

EZCORP delivered exceptional second quarter fiscal 2026 results, marked by record revenue, PLO, and adjusted EBITDA — all driven by disciplined execution across segments, robust demand for pawn services and secondhand goods, elevated gold prices, and the strategic integration of SMG. Jewelry scrap sales surged 288% year-over-year, lifting gross margin from 22% to 38%, while merchandise sales gross margin improved to 36% from 34%, aided by inventory optimization and reduced aged general merchandise. The U.S. Pawn segment contributed strongly, with PLO up 16% and segment contribution rising 59% to $78.1 million; Latin America Pawn posted 38% PLO growth (27% constant currency) and 38% segment contribution growth. The SMG acquisition added $51.3 million in revenue and $8.8 million in segment contribution, with no prior-year comparison. Store count expanded to 1,506 across 16 countries, including 32 new Guatemala stores acquired in April — reinforcing market leadership. While cash and cash equivalents declined to $354.2 million from $505.2 million year-ago due to $134.2 million used to retire SMG’s third-party debt and other acquisition costs, management emphasized a highly liquid balance sheet and disciplined capital allocation. CEO Lachie Given highlighted continued focus on operational improvements at SMG, scaling the global platform, and pursuing organic and inorganic opportunities — underscoring confidence in long-term value creation despite no explicit forward guidance beyond commentary on 'significant runway' in existing and new markets.