FirstCash Holdings, Inc. recently released its latest Form 10-Q, showing a business built around pawn lending, pawn merchandise sales, and retail point-of-sale financing. The company operates pawn stores in the U.S., Mexico, Guatemala, El Salvador, Colombia, and the U.K., and it also runs a retail POS payment solutions business through AFF. As of June 30, 2026, FirstCash operated 3,343 pawn locations and served about 16,700 active merchant partner locations through its payment solutions network.
In Management’s Discussion and Analysis, FirstCash said its core business remains retail pawn stores serving cash* and credit-constrained consumers through non-recourse pawn loans and sales of pledged or forfeited merchandise. The company’s reportable segments are U.S. Pawn, Latin America Pawn, U.K. Pawn, and Retail POS Payment Solutions. FirstCash also said it completed the acquisition of H&T, the leading pawn operator in the United Kingdom, on August 14, 2025, and included H&T’s balance sheet and operating results from that date forward.
The second quarter showed a larger revenue base and a higher pre-tax profit. Consolidated revenue rose to $1.07 billion from $830.6 million a year earlier, while income before income taxes increased to $127.0 million from $81.1 million.
U.S. Pawn remained the largest contributor. Revenue in the segment climbed to $498.1 million from $409.6 million, with retail merchandise sales up 10% to $275.7 million, pawn loan fees up 15% to $150.1 million, and wholesale scrap jewelry sales up 152% to $72.3 million. U.S. same-store retail sales increased 8%, and same-store pawn loan fees rose 14%.
U.S. pawn loan receivables increased 20% to $481.9 million at June 30, 2026, while U.S. inventories rose 28% to $324.1 million. The company said the inventory increase reflected higher pawn lending activity over prior quarters, which created more forfeited inventory for sale, partly offset by more collateral being scrapped.
Latin America Pawn also expanded. Segment revenue increased to $292.0 million from $205.9 million, with retail merchandise sales up 28% to $174.3 million and pawn loan fees up 33% to $79.6 million. The company said the segment benefited from an 11% favorable change in the average Mexican peso exchange rate versus the U.S. dollar.
The U.K. Pawn segment, which had no comparable revenue in the prior-year quarter, generated $95.3 million of revenue and $33.6 million of income before income taxes. Pawn loans in the U.K. totaled $217.4 million at June 30, 2026, with inventories of $85.4 million.
Retail POS Payment Solutions posted revenue of $189.5 million, down from $215.9 million a year earlier. Within that segment, leased merchandise income fell to $115.5 million from $139.8 million, while interest and fees on retail finance products declined to $74.0 million from $76.1 million. The segment’s income before taxes was $28.7 million, compared with $37.9 million a year earlier.
At the company level, operating expenses increased to $267.7 million from $222.5 million, administrative expenses rose to $66.8 million from $59.3 million, and interest expense increased to $35.7 million from $26.3 million. Merger and acquisition expenses were $6.4 million, up from $2.8 million. Today the company's shares have moved 5.76% to a price of $206.30. Check out the company's full 10-Q submission here.
