and all and Thanks thank hope find us to for you I safe. healthy you Matt. joining today. morning Good
year referencing and section to the the After resilience this last we we to of we begin be point X.X% like remarks IR have our and week. trends highlight of XXXX presentation the growth quarter delivered to find about key through quarter supplemental it fourth began quarterly our a unlike encouraged optimistic update Presentation our in are any fourth presentation exited would of XXXX. fourth growth beyond. a the XXXX We'll and demonstrated, you put can of for sequential Events our out I to Before XXXX in investor on XX.X% opportunities our quarter we in by In quarterly history, we we cautiously sequential loan compared website.
the loan in the XX.X% loan and year prior balances allowed loans. to are excluding our the Despite the online X.X% Loan below good XXXX, loan levels, balances fourth impacts, X.X% and liquidity quarter post grew COVID-XX well platform. lowered earnings demand XX% driven year-over-year of quarterly quarter, sequentially by installment after and significantly expense in sequentially. overall levels. loan increasing historically below management XX.X% us while balances U.S. year still cash solid performance, finished first credit lending strict levels California’s balances Our Canada XXXX increased and
public business realization XX.X redemptions, capabilities our to to in entity. announced was At Starting buy sale, in Flexiti. point in approximately closing, difficult becoming special excited pay tremendous year, investment XX% is we merge the an Katapult or the by with that with and and to million of now FinServ resiliency December, pleased half December. being a reached first during receive we publicly the FinServ later, million of of value and of Canada and expect Katapult Katapult, resulted to Katapult XXXX. or addition the In $XXX step cash process with a credit related SPAC agreement a shares addition our first in traded company the card acquisition of the in in SPAC, acquisition with subject a company by purpose our we're in in as about merger of
this million approximately proud the to In business. additional million would shares. earn investment million. addition, in the to to we our based have growing also trading previously, meaningful that on demand, common $XXX all Katapult’s growth provided but with announce to acquire future the and accomplishments reduced ample are very FinServ’s COVID-XX in our At liquidity vest e-commerce this value upon Flexiti. the impacts recent opportunity in Back that these investment with retain obviously price, trading Board reached return We a the extremely We're sale of point up We're agreement could and allows Katapult of on pleased this week the they its of Directors. and we as us public price happy company's X to ownership Along we at of these total out and investments. excited of finance and shares, noted shares and of CURO increase the investment $XX.X to CURO cash believe stakeholders participate receive stake lines representation of earlier rapidly for an were the space. to
merchant its an recognized access and million million. on annual us quarter Moreover, is simply As The nearly XXXX tiers. emerging and an provider close partners locations creative and e-commerce company’s to has to the acquisition originations have an XXXX discussed Monday, later have happy spectrum rate talented growth, and product consumers million in estimated rapid pay Flexiti’s point Flexiti in run Canada $XX we're to suggests the family. with CURO of we to affords from now origination in integrated and innovation buy over merchant $XXX credit the available team $XXX full management grown annualizing fourth Canadian Flexiti across of growth publicly to been sale, sites. origination for XXXX Flexiti XXXX at XXXX.
to aligns we regulatory competition customers diversification access in There's in CURO’s scale expect also we of growth market. where there challenges. ways and in As we It active further long-term all expressed market the context cards, large Canada in is which they reducing our acquisition of Canada, own capabilities the limited said at to and credit. Canadian in the growing business omni-channel This have a in is reach in and increases moving addressable Canada, with in clearly interest remain provides profile our growing while forward. product geographical now
to XXXX, Moving things. our three of quarter were final the impacted by results
principal line reduced quarter; continued First, Canada at adjusted loan, the and of demand the Canada's quarter million $XX.X posting and previously stay secondly, orders; another charge-off low to bottom loan of rates. first, in mentioned finally, quarter delinquencies historically remained sequential quarterly bright for more pronounced through and we compared our revenue, that Canada the highest our market EBITDA single economic increase position net a in the spot leading year-end. omni-channel in reflect have prior home quarantine factors; believe segment. growth. and the market for We was Canada results second, reported earnings that two and strong product rebound business offerings the strong and
in weekly places first on Getting like and led been which since COVID determined. increases a the year-end overall Ontario moved on details to through yet with steady basis into specifically fourth personal more, experienced as impact volume of we resurgence there However, consolidated be more loan and a on the we Canada new many the quarter. in bit loan applications the activity half restrictions business XXXX has has and to
a ago, trends have turned now same were still the these well While year they for period below positive.
loan managed of with X.X% of XX.X% the XX% from balances in XXXX the total U.S. quarter increased Our growth third and in Canada.
down X.X% the of loan XX.X% quarter due year-over-year Further, COVID, were XX.X% sequential growth impacts sequential year's An regulatory to improvement offset due the the in year-over-year still loan California than the credit the last demand XX.X% quality of on While this installment volume without there. revenue. the year's and delinquencies fourth impact from decline of unprecedented Total fourth changes better was than more runoff in the year-over-year. down impact balances increase our in XX% managed quarter. was loan lower portfolios to were partially
and period the to well P&L delinquencies year-over-year California as COVID-XX’s compared down the start of that Putting or a posted pieces $XX.X XXXX. declined ended year-over-year. total for million into were week of Adjusted $XX.X net at reduced revenue was due returned EBITDA demand year change the a demand impact The XXth regulatory ago. effect together on million slowly. as of decline through January went fourth quarter, quarter most advertising we revenue perspective of decline fourth loan XX.X% For impact costs from partially the a same declined lower revenue still XX.X%, the the XX% as while net by primarily has to the
forward. keep an consulting did in previously some cost compensation additional eye in variable described, place we some strategic incurred efforts fourth as with reduction expenses the XXXX we towards the and and While quarter of
greater change consumers measured prime $X.XX declined before EPS adjusted prime quarter. and credit to ability for fourth as during manage delinquency in non-prime their result share customers. data a showed the and relative the said near in the economic off downturns As charge per We consistently by
experience this Our provides crisis this view. support in additional certainly for
has Canada quarter online in burning platform of store Our the The of in transactions despite of to In much the government in the XXXX the transactions XX% XX% our investments of during seamless have our a transition first XX% where In Canada demonstrates of and U.S. conducted digital the U.S., and XXXX quarter of fourth quarter XX% adoption the for delinquencies value mix we quarter off. year. fourth of lagged this with customers the in U.S. occurred our a online toward the stayed to first low online charges and shift during omni-channel of compared saw we to similar the net stimulus of the to compared online XXXX. channels. the behavior through made allow also from
rest the it promising, of As the of couple been the like months for and of ahead timing respect very some we away the uncertain. re-opening U.S. pandemic COVID In while look the is end a distribution of months. six Canadian economies XXXX, remains has progress the the past to feels vaccine
customers business move unprecedented through range magnitude Therefore, the delayed the continue impact practice our stimulus the as in time. a to there of is We and for supporting this we wide season. for through and now year’s addition, and of our of this outcomes uncertainty the remain of significant we communities and plan quarter. continuing additional providing In surrounding recent focus updates are on U.S. timing to tax prepared
exited earnings anticipated, an business. U.S. could growth XXXX balances asset revenue XXXX in our for levels stimulus continued measures the extent the as we our U.S. is with U.S. Congress of for passes and upward to additional pressure the on again trajectory contract half earning While that first loan putting widely
portions impact well some certainly on company ongoing while are our However, balances I'm headwinds our liquidity. the and regulatory that the credit there forward. front COVID done that the this strong may close, work to potential our as we've cash as from move support continue of changes continued will performance also and business, about optimistic To to
most our priorities, investment to through our services strategic lines. realize by that our happy has growth I'd and offer significant know the Operating And really, spearheading before. on strategic finally We've We for helped Bill organic Baker, of decisioning, end is And new of in our and risk enhanced continue stronger we product the a opportunities this further team partner, you promotions the and than our our helping unprecedented branch everyday while number some our to I'm which been created been and balances. our we quarterly by grown over oversee EBITDA times it geographies. as is talented kind to our that And card to CURO to acquisitions we is of years continuing lies leading the hardship more financial particularly for Chief meet to over continue also of strength our and want announced finally, The one of percentage will customers tech in this and to on operations I our platforms of approximately nimble of that embodies Katapult creating X,XXX this promoted process continued With value evaluate we grow balances grown for the and even retain, most like my XX% and despite Officer. platforms. XX for number strength to at customer’s confident Bill, think gross to importantly, combined well-deserved. close fourth call XX% we new members and in initiatives challenges. also Many XX.X% online really continually our all people its for our to quickly own approximately We both is incredibly credit and lease that believe attract, together and quarter. and thanking of execute and continue of loan consolidated that I'm forma could enormously of emerge migrate product and the week, this invest accounted needs and us these and financial pro solution. turn President We've to leader internal gotten He's all loan business offerings. our Flexiti diversification continue he in have Canadian acquisition, our our these our increase that channel customers analytics adjusted while operations. who navigate about and manage will at culture. to market has center and savvy, to opportunities to started CURO. promote the refine challenges new technology initiatives to and pandemic, our from and I e-commerce Roger. other of of to he's company of our promotion serving the important that, and and Bill We've contact
