Segment Information

6 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Segment Information

NOTE 10: SEGMENT INFORMATION

Our operations are primarily managed on a geographical basis and are comprised of three reportable segments. The factors for determining our reportable segments include the manner in which our chief operating decision maker evaluates performance for purposes of allocating resources and assessing performance.

We currently report our segments as follows:

•U.S. Pawn — all pawn activities in the United States;

•Latin America Pawn — all pawn activities in Mexico and other parts of Latin America; and

•Other Investments — primarily our equity interest in the net income of Cash Converters along with our investment in RDC and our investment in and notes receivable from Founders.

There are no inter-segment revenues presented below, and the amounts below were determined in accordance with the same accounting principles used in our condensed consolidated financial statements.

The following income (loss) before income taxes tables present revenue for each reportable segment, disaggregated revenue within our reportable segments and Corporate, segment profits and segment contribution.

	Three Months Ended March 31, 2024
(in thousands)	U.S. Pawn		Latin America Pawn		Other Investments		Total Segments		Corporate Items		Consolidated
Revenues:
Merchandise sales	$	114,849	$	49,838	$	—	$	164,687	$	—	$	164,687
Jewelry scrapping sales	12,686		1,028		—		13,714		—		13,714
Pawn service charges	80,010		27,153		—		107,163		—		107,163
Other revenues	29		15		31		75		—		75
Total revenues	207,574		78,034		31		285,639		—		285,639
Merchandise cost of goods sold	72,798		33,461		—		106,259		—		106,259
Jewelry scrapping cost of goods sold	10,794		994		—		11,788		—		11,788
Gross profit	123,982		43,579		31		167,592		—		167,592
Segment and corporate expenses (income):
Store expenses	80,840		33,742		—		114,582		—		114,582
General and administrative	—		—		—		—		18,266		18,266
Depreciation and amortization	2,516		2,392		—		4,908		3,311		8,219
(Gain) loss on sale or disposal of assets and other	(30)		(66)		—		(96)		99		3
Other income	—		—		—		—		(765)		(765)
Interest expense	—		—		—		—		3,402		3,402
Interest income	—		(608)		(633)		(1,241)		(1,641)		(2,882)
Equity in net income of unconsolidated affiliates	—		—		(1,719)		(1,719)		—		(1,719)
Other expense (income)	—		1		14		15		(180)		(165)
Segment contribution	$	40,656	$	8,118	$	2,369	$	51,143
Income (loss) before income taxes							$	51,143	$	(22,492)	$	28,651

	Three Months Ended March 31, 2023
(in thousands)	U.S. Pawn		Latin America Pawn		Other Investments		Total Segments		Corporate Items		Consolidated
Revenues:
Merchandise sales	$	108,740	$	43,767	$	—	$	152,507	$	—	$	152,507
Jewelry scrapping sales	9,814		3,011		—		12,825		—		12,825
Pawn service charges	69,945		23,085		—		93,030		—		93,030
Other revenues	32		19		10		61		—		61
Total revenues	188,531		69,882		10		258,423		—		258,423
Merchandise cost of goods sold	67,643		29,696		—		97,339		—		97,339
Jewelry scrapping cost of goods sold	8,550		3,352		—		11,902		—		11,902
Gross profit	112,338		36,834		10		149,182		—		149,182
Segment and corporate expenses (income):
Store expenses	71,946		29,323		—		101,269		—		101,269
General and administrative	—		—		—		—		15,609		15,609
Depreciation and amortization	2,560		2,332		—		4,892		3,071		7,963
Loss (gain) on sale or disposal of assets	81		(8)		—		73		—		73
Other income	—		(2,465)		—		(2,465)		—		(2,465)
Interest expense	—		—		—		—		3,390		3,390
Interest income	(1)		(298)		—		(299)		(1,599)		(1,898)
Equity in net loss of unconsolidated affiliates	—		—		32,501		32,501		—		32,501
Other (income) expense	—		(46)		6		(40)		120		80
Segment contribution (loss)	$	37,752	$	7,996	$	(32,497)	$	13,251
Income (loss) before income taxes							$	13,251	$	(20,591)	$	(7,340)

	Six Months Ended March 31, 2024
(in thousands)	U.S. Pawn		Latin America Pawn		Other Investments		Total Segments		Corporate Items		Consolidated
Revenues:
Merchandise sales	$	240,362	$	103,728	$	—	$	344,090	$	—	$	344,090
Jewelry scrapping sales	25,501		2,295		—		27,796		—		27,796
Pawn service charges	159,083		54,529		—		213,612		—		213,612
Other revenues	66		31		35		132		—		132
Total revenues	425,012		160,583		35		585,630		—		585,630
Merchandise cost of goods sold	151,507		69,962		—		221,469		—		221,469
Jewelry scrapping cost of goods sold	22,078		1,918		—		23,996		—		23,996
Gross profit	251,427		88,703		35		340,165		—		340,165
Segment and corporate expenses (income):
Store expenses	158,095		67,042		—		225,137		—		225,137
General and administrative	—		—		—		—		34,809		34,809
Depreciation and amortization	5,140		4,731		—		9,871		6,913		16,784
(Gain) loss on sale or disposal of assets and other	(4)		(262)		—		(266)		97		(169)
Other income	—		—		—		—		(765)		(765)
Interest expense	—		—		—		—		6,842		6,842
Interest income	—		(1,028)		(1,206)		(2,234)		(3,287)		(5,521)
Equity in net loss of unconsolidated affiliates	—		—		(2,872)		(2,872)		—		(2,872)
Other (income) expense	—		(47)		15		(32)		(404)		(436)
Segment contribution	$	88,196	$	18,267	$	4,098	$	110,561
Income (loss) before income taxes							$	110,561	$	(44,205)	$	66,356

	Six Months Ended March 31, 2023
(in thousands)	U.S. Pawn		Latin America Pawn		Other Investments		Total Segments		Corporate Items		Consolidated
Revenues:
Merchandise sales	$	227,054	$	89,240	$	—	$	316,294	$	—	$	316,294
Jewelry scrapping sales	16,990		3,719		—		20,709		—		20,709
Pawn service charges	139,255		46,368		—		185,623		—		185,623
Other revenues	57		35		32		124		—		124
Total revenues	383,356		139,362		32		522,750		—		522,750
Merchandise cost of goods sold	140,899		61,317		—		202,216		—		202,216
Jewelry scrapping cost of goods sold	14,766		4,089		—		18,855		—		18,855
Gross profit	227,691		73,956		32		301,679		—		301,679
Segment and corporate expenses (income):
Store expenses	145,250		56,822		—		202,072		—		202,072
General and administrative	—		(3)		—		(3)		31,088		31,085
Depreciation and amortization	5,315		4,547		—		9,862		6,089		15,951
Loss (gain) on sale or disposal of assets	84		(27)		—		57		—		57
Other income	—		(2,465)		—		(2,465)		—		(2,465)
Interest expense	—		—		—		—		9,580		9,580
Interest income	(1)		(467)		—		(468)		(2,094)		(2,562)
Equity in net loss of unconsolidated affiliates	—		—		30,917		30,917		—		30,917
Other expense (income)	—		24		10		34		(188)		(154)
Segment contribution (loss)	$	77,043	$	15,525	$	(30,895)	$	61,673
Income (loss) before income taxes							$	61,673	$	(44,475)	$	17,198

The following table presents separately identified segment assets:

(in thousands)	U.S. Pawn		Latin America Pawn		Other Investments (a)		Corporate Items		Total
As of March 31, 2024
Pawn loans	$	173,744	$	62,029	$	—	$	—	$	235,773
Pawn service charges receivable, net	33,218		5,050		—		—		38,268
Inventory, net	121,863		41,566		—		—		163,429
Total assets	1,003,447		330,256		81,238		93,201		1,508,142
As of March 31, 2023
Pawn loans	$	157,043	$	49,053	$	—	$	—	$	206,096
Pawn service charges receivable, net	28,944		4,172		—		—		33,116
Inventory, net	112,147		38,150		—		—		150,297
Total assets	901,745		291,886		66,011		160,890		1,420,532
As of September 30, 2023
Pawn loans	$	190,624	$	55,142	$	—	$	—	$	245,766
Pawn service charges receivable, net	34,318		4,567		—		—		38,885
Inventory, net	128,901		37,576		—		—		166,477
Total assets	984,539		313,164		63,707		106,301		1,467,711

(a) Segment assets as of September 30, 2023 have been recast to conform to current year presentation as CCV no longer meets the 10 percent threshold to be considered its own segment.