PROG Holdings Q4 revenue misses expectations amid challenging retail environment

PROG Holdings

18/02/2026 12:38

Overview

Fintech holding company's Q4 revenue fell 5.2% yr/yr, missing analyst expectations

Adjusted EBITDA for Q4 was $61.5 mln, slightly down from last year

Company's PROG Marketplace GMV nearly tripled, Four Technologies GMV up 126%

Outlook

PROG Holdings expects full-year 2026 revenue between $3.02 bln and $3.14 bln

Company projects Q1 2026 revenue from cont ops between $715 mln and $745 mln

PROG Holdings anticipates full-year 2026 adjusted EBITDA between $320 mln and $350 mln

Result Drivers

CHALLENGING ENVIRONMENT - CEO Steve Michaels cited a challenging retail environment and a large partner bankruptcy impacting Progressive Leasing

PROG MARKETPLACE GROWTH - PROG Marketplace GMV nearly tripled during the quarter, driven by cross-sell and direct-to-consumer channels

FOUR TECHNOLOGIES EXPANSION - Four Technologies achieved its ninth consecutive quarter of triple-digit GMV and revenue growth

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Miss
$574.60 mln
$585.40 mln (8 Analysts)
Q4 Net Earnings
$40.50 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the financial technology (fintech) peer group is "buy"

Wall Street's median 12-month price target for PROG Holdings Inc is $39.00, about 15.1% above its February 17 closing price of $33.87

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 8 three months ago

Press Release: ID:nBw9wh4jma

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)