EZCORP Q2 Revenue Jumps 46% to $446.9M, Net Income Up 93% on SMG Deal
EZCORP posted Q2 fiscal 2026 revenue of $446.9M, up 46%, with net income rising 93% to $49.1M and adjusted EBITDA up 76% to $76.9M. Pawn loans outstanding climbed 33% to $349.4M and the company expanded its network by 123 stores, including the SMG acquisition and 32 Guatemala outlets.
1. Q2 Financial Results
EZCORP delivered record quarterly performance, reporting revenue of $446.9 million, up 46% year‐over‐year. Net income attributable to the company soared 93% to $49.1 million, while adjusted EBITDA increased 76% to $76.9 million, and diluted EPS rose 85% to $0.61.
2. Loan Portfolio Growth and Margins
Pawn loans outstanding reached $349.4 million, a 33% increase driven by higher average loan size and robust customer demand. Merchandise sales gross margin improved to 36%, and jewelry scrap sales surged 288% with gross margin climbing to 38% on favorable gold prices.
3. Acquisition and Store Expansion
The company grew its footprint by 123 stores during the quarter, including 117 acquired through the Founders One/SMG transaction and six de novo locations. In April, an additional 32 stores were added in Guatemala, bringing the global network to 1,506 stores across 16 countries.
4. Balance Sheet and Strategic Outlook
Cash and equivalents declined to $354.2 million from $505.2 million as of prior year, primarily due to retirement of SMG debt and acquisition costs. Management emphasized disciplined capital allocation, operational integration of new stores, and pursuit of further organic and inorganic growth opportunities.