EZCORP, Inc.

Good morning, ladies and gentlemen. Welcome to the EZ Corp fiscal fourth quarter and full year 2025 earnings call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session, and instructions will follow at that time. As a reminder, this call may be recorded. I'd now like to turn the conference over to Sean Mansouri, the company's investor relations advisor with Elevate IR. Please go ahead, Sean.

Thank you, and good morning, everyone. During our prepared remarks, we will refer to slides which are available for viewing or download from our website at investors.easycorp.com. Before we begin, I'd like to remind everyone that this conference call, as well as the presentation slides, contain certain forward-looking statements regarding the company's expected operating and financial performance for future periods. These statements are based on the company's current expectations. Actual results for future periods may differ materially from those expressed due to a number of risks or other factors that are discussed in our annual, quarterly, and other reports filed with the Securities and Exchange Commission. And as noted in our presentation materials, and unless otherwise identified, results are presented on an adjusted basis to remove the effect of foreign currency fluctuations and other discrete items. Joining us today on the call are EZ Corp's Chief Executive Officer, Lockie Given, and Tim Jugman, Chief Financial Officer. Now I'd like to turn the call over to Lockie.

Thank you, Sean, and good morning, everyone. Fiscal 2025 was a transformative year for EZ Corp. Outstanding operating and financial results on the top and bottom line drive exceptional shareholder value creation. We materially grew the store base across the five countries in which we operate, while retaining a highly liquid and lowly geared balance sheet. We achieved record revenue of $1.3 billion for 2025, up 12% year over year, and adjusted EBITDA of $191.2 million, up 26%. Avidar margin also expanded to 14.7% from 13%. Net income surged 30% to $110.7 million. Turning to slide three, EasyCorp is the leading provider of porn transactions in the United States and Latin America. Founded in 1989, we operate 1,360 stores across five countries with approximately 8,500 team members. Our model expands access to financial services through neighborhood retail locations and promotes the circular economy by recycling pre-owned merchandise and jewelry. The fundamentals of our pawn product continue to resonate powerfully with customers who need immediate access to cash. Our loans are non-recourse, meaning customers have no obligation to repay. They can simply walk away and forfeit their collateral with no further consequences. We don't check credit scores, we don't require bank accounts or employment verification, we never engage in collection activities, and we don't report to credit bureaus. These small, short-term transactions serve millions of Americans and Latin Americans who are underserved by traditional financial institutions but need immediate cash solutions delivered in a highly respectful and efficient way. Moving to slide four, we added 24 stores in the quarter. opening 17 de novo stores in Latin America, 11 in Mexico, 4 in Guatemala, and 2 in Honduras. We also completed the acquisition of 7 stores through our Monta Providencia and 2 in Peño Efectivo transaction in Mexico, plus acquired 1 store in the United States, offset by 1 consolidation. Our store count has grown from 1,148 stores in fiscal 2021 to 1,360 stores at fiscal 2025 year-end. Post-fiscal year end, we acquired 14 additional stores in Mexico and three in Texas and entered into a definitive agreement to acquire 12 more Texas locations. We ended the quarter with earning assets of $549.1 million, up 18%, comprised of record PLO of $303.9 million and inventory of $245.2 million. The PLO balance represents an 11% increase year over year, driven by strong consumer demand and increased average loan sizes. Our PLO to inventory ratio remains healthy at 1.2 times, demonstrating disciplined lending and inventory management. Our cash position of $469.5 million increased materially from $170.5 million at fiscal in 2024, reflecting the $300 million senior notes offering completed in March 2025. We remain well positioned financially to unlock further scale and accelerate organic and inorganic growth. Slide five and six highlight our strong financial performance during the fourth quarter. Tim will walk through those in detail shortly. On slide seven, It provides an update on the strategic initiatives fueling our consistent growth across four of our fundamental operating metrics. Under the Strength in the Core, we delivered double-digit growth with record revenues and record high PLO, powered by our customer-centric approach and robust consumer demand. The team's ongoing commitment to operational excellence continues to support exceptional profitability. Adjusted EBITDA grew 33% to $47.9 million, while margins expanded 210 basis points to 14.3%. On team members, we implemented a targeted incentive compensation campaign in Q4 that successfully improved merchandise sales, results we plan to replicate periodically throughout fiscal 2026. We've also completed enterprise-wide talent and succession planning and launched structured retention programs that are already enhancing early engagement and reducing workforce attrition. Our customer focus initiatives are gaining significant traction. Our strategy is delivering measurable results. Digital transformation continues to accelerate omnichannel engagement and operational efficiency. Easy Plus Rewards membership is up 26% to 6.9 million members, driving loyalty in local neighbourhoods we serve and repeat transactions. We continue to broaden engagement across platforms with our website traffic increasing 49% to 2.6 million visits this quarter. Importantly, net promoter scores improved dramatically, rising to 61% in the US and 62% in Mexico, while we maintain Google review ratings above 4.7 across all geographies. Finally, our Innovate and Grow initiatives deliver tangible expansion this quarter. In the US, we collected $34 million in online payments, up $10 million, or 42% year-over-year growth, demonstrating strong customer adoption of digital platforms. We expanded our view online purchasing store capability to all US stores as of October 2025, seamlessly connecting digital discovery with in-store transactions. Additionally, our instant quote tool, which provides real-time loan estimates for electronics, is now operational in 66% of US stores, driving both customer engagement and conversion. In Mexico, we're seeing rapid digital adoption, with 22% of extensions and layaway payments now processed online, creating convenience for customers while improving store productivity. As we continue to scale these digital initiatives, we're unlocking meaningful operational leverage while enhancing the customer experience. This omnichannel approach positions us at the forefront of digital innovation in our industry, while digital engagement successfully translates into increased door transactions and reinforcing our market leadership position. I'll now turn it over to Tim to walk through our detailed financial results. Tim.