PRG - Earnings call transcript Q1 2024

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Operator

Good day, and thank you for standing by. Welcome to the PROG Holdings First Quarter 2021 Earnings Call. [Operator Instructions] Please be advised, today's conference is being recorded.

I would now like to hand the conference over to your speaker today, John Baugh, please go ahead.

John Baugh

Thank you, and good morning, everyone. Holdings XXXX PROG call. the to first earnings quarter Welcome

Many PROG are and Garner, Joining issued already this Officer. on earnings morning is Investor of Michaels, a our you Holdings copy seen Financial morning Brian me this release and Relations Steve website, President our have Officer; Chief Chief available which of our Executive investor.progholdings.com.

XXXX. XXXX quarter outlook certain we of shares our including a GMV undertake XXXX, a not to statements. revised forward-looking, to for Listeners our health our of make forward-looking comments future in our place expectations undue continue repurchase dividend and second emphasis for periods we we be quarter regarding During full will statements second any our outlook and on this capital of including call, make today, and the update such year are and the allocation paying the statements year our no cautioned cash stock full to regarding obligation portfolio, quarterly priorities, ability and

call, facilitate company's company's help performance in understanding cash we will EBITDA with the non-GAAP reconciliation our adjusted of affect including which to flows them and earnings performance. release. these ongoing periods of The which insight to and company operational believes with that prior investors these operational assist with meaningful today's non-GAAP performance into included companies. These and items, non-GAAP financial operating the measures the are to other to measures provide detailed referring our measures results provides comparisons in EPS, certain measures, been and financial have comparability certain may non-GAAP tables adjusted be for On the

President Michaels, Executive the to Steve to and Steve? I call that, PROG would like turn Chief With Officer. over Holdings'

Steven Michaels

we our and John, range which quarter results, of in report the first us Thank February. appreciate we our everyone. high joining outlook end provided good exceeded I as you you, morning,

QX. points insights a along how few first on unfolded our with Today, I'll quarter into provide key

when emerging retail we And reminder, start be QX late single we in the were year a for headwinds, the limited given issued anticipated tax season. with we February, into slow digits. low a the down As GMV to from visibility outlook macro our to refund

about of portfolio. initiatives direction, were growth our our strategic the health optimistic and we However,

under beat QX, demand revenue to environment actively expected. I'm amidst comps, and of QX of QX high sales, the enhance strategic strong end initiatives our digits. high For verticals Leasing company teams share gained across GMV and as proud while year. quarter. single manage QX earnings XXXX, the want in outlook start but retail deliver We expand, negative better start rebounded in more they the our headwinds slightly of from and us to portfolio than throughout We some for grow, technology performance. the range. these sales a Progressive was through strong call our a segment balance helped our challenging in several which marketing to of the partners year-over-year our the performance pillars to I of continuing execution key our navigated Brian will detail, that soft the yield key flat for address the portfolio ending with portfolio experienced out a in

strong the outlook, spending. disciplined the million, the $XX.X our Consolidated adjusted GMV quarter, of of by end of EBITDA portfolio driven second of which and half performance XX.X% revenue in exceeded high was growth

pillars Now, on I'd like strategic our enhance to grow, update expand. and you of

improved term. our productivity, new with the long increases deeper will quarter, near existing with existing as existing efforts believe on in been years. pipeline on us focuses the in achieved new of have our per locations I enable grow our platform to whom and active that of well some Regarding driven deliver development expected on space. and the onboard retailers we integrations the strategy platform as number to In business location and emphasize partnerships, and in want partners national focused both which we remain by with retailers We retail regional pillar, to growth many keenly conversions our leases for GMV to

under PROG our efforts grow are Also our and focused pillar, marketing. direct-to-consumer the on marketplace

retail a traffic when app, mobile drive partners. and they and repeat network PROG reminder, shop to sales As through where Marketplace to to allows incremental us our customers new allowing and our want of

from leading in We GMV which our channel customers choice. through anticipate in marketplace, PROG and doubling more significant also we other have affiliate This marketplace XXXX. retailers XXXX, partnerships gives drove the with our our growth

In key of consumers make life direct-to-consumer the products. it our to understand which of personalization, spectrum utilize and cycle marketing, and for customer terms areas full the include easy

As it specifically, segmentation personalization we relates the are and automation in to improve customer capabilities to investing experience.

our Our direct-to-consumer complements and partner them. GMV new retail with relationship motion channel and to as our we drive deepens incremental traffic retailers existing

to continue experiences which initiatives, will retailer in make seamless possible. invest and customer Under as as our pillar, technology we enhanced

with direct-to-consumer application are make mobile shopping, shopability checkout the efficient app. search better the increasing onboarding browse, experience well example, For features to as enhancing through and we on and the more web as

piloted provide areas content our we site In consumer-facing QX, educate shoppers benefit several R&D products Labs QX, and of and our new and verify resources our initiatives seamlessly consumer-facing support This PROG feedback. refresh multilingual customer group launched Progressive website. to improved AI provides a a platform to analyze across consumer about to partners. robust retail During Leasing generative to highlight the increase help and ID,

improvements product development before. and For generative more consume to identify for that feedback our cycle much into which leveraging can offerings, incorporate we instance, by us our customer significantly AI feedback, to and allows faster than actionable analyze information

customer's level customer incremental allows our This drive X expand drove strategy to GMV these experience consumer featuring technologies and our and cross-marketing will Progressive and Under our productivity we operational other improve segment conversion acquisition at and by to relevant that customer the dramatically a are scale products on needs. in our and initiatives at pillar, internal cross-promotional believe to We efficiencies. cost portfolio PROG Leasing increase through rates offers personalize omni-channel build. customer serve focused in operations, We include to automate further to lower with journeys. which the us QX efforts each are marketing

expect make as friction We strides to the GMV year and throughout to we our remove our this conversion. ramp processes from up optimize funnel

helped retail summarize like first share. collaborated highlight existing to To strong quarter, gain of our integrations with and on I'd balance marketing, us that technical we partners which

progress on initiatives, We with a healthy and lease remain also maintained significant made spend. disciplined portfolio direct-to-consumer

will XXXX, While detail more high-level to for provide full outlook like year provide I'd Brian thoughts. some our on revised

in lease book categories of expect In our terms to the majority of the persist. remainder we headwinds of the year, retail

the single are and our making digits challenges. expand, we progress these macroeconomic we about GMV under despite low However, remain initiatives significant strategic across grow, QX and growth in enhance optimistic

year full outlook the year. updated Our GMV reflects outperformance revenue the the of in half first

X% our to we with range targeted our X% of to portfolio performance to expect within continue balance profitability annual remain also We as GMV growth.

$X.XX allocation, quarterly XX. on dividend we on topic of a paid share per the March Finally, capital cash of

operations year. Additionally, shares generate and we we XXX,XXX expect the cash the generated full from flow approximately cash in repurchased during to $XXX from for flow quarter. meaningful QX, million operations In

return to fund opportunities allocation through and unchanged, shareholders priorities repurchases. and excess dividends to growth, look cash expect remain capital strategic share for to we Our continue and M&A

Brian for of remainder will results QX Garner, more and the details I the outlook. on turn now our to Brian? the year CFO, call over

Brian Garner

Steve. Thanks,

flexible levels. report first exceeded our by despite to resilient XXXX to on for are a quarter. initiatives, demand the results and management We portfolio our revenue soft and driven This both environment spend pleased that performance our and growth payment of outlook quarter performance our demand earnings begin was solutions

the exceeded as quarter decline Beginning single-digit Progressive our of Steve mentioned, with year-over-year. Leasing as GMV for a Progressive segment, expectations flat low ended the we Leasing

in and direct-to-consumer delivered our to contributed overall motions marketing sales invest and on initiatives, results. to continue which the We

by last compared from asset Our XXXX the same at X.X% asset for declined Revenue year, the we half QX gross leased gross an in to benefit portfolio higher the exceeded being entered Leasing this from due and year, expectations $XXX.X $XXX.X GMV our purchases. was the QX the larger-than-expected early from driven entering X.X% size. improvement back million our we down XX-day of a to favorable of X.X% million, as end which lift Progressive decline by leased was X.X% primarily QX period. the a revenues segment largely partially down to offset experienced balance period balance the

returned Leasing in than outlook, to while XX-day options for came their contributed exceeding expected, the customers better purchase Progressive exercise portfolio earnings of have performance end levels. pre-pandemic which choosing of to to the QX our high percentage

driven range we basis and comparison, year-over-year of to was provision XXXX was a margin was QX This expect full within QX to XXXX. of of in lows X%. XXX lease historic write-offs XX-day annual points by lower in our purchases to of The QX our normalized XXXX levels For period XX.X% X% year of of be X%, compared primarily merchandise this targeted to for XXXX. our compared write-offs gross

Progressive investments ongoing as of year-over-year in technology percentage Leasing in in slightly by from increased SG&A QX sales, of marketing. to Driven XXXX expenses XX.X% of and revenue QX XXXX. a XX.X%

from The actions taken in revenue the as costs manage period's we in with restructuring results benefited expectations. January line

million million Adjusted XX% XXXX margin the of to for segment. midpoint was of Progressive margins to in of from XXXX. declined Leasing QX of Progressive in annual EBITDA XX.X% Leasing EBITDA our $XX.X Adjusted target XX% $XX.X the for at QX

quarter the XXXX offset Progressive to X% our came in from compared higher in at due XX-day QX XXXX year-over-year. exceeding Pivoting to to earnings the purchases same top count by primarily to consolidated portfolio driven part of year, Leasing our program. repurchase smaller million and beat QX $XXX.X declined results, the outlook, $XXX.X by share to in EPS $X.XX, share segment, lower at our consolidated partially revenues million end due non-GAAP the last the

was compared period. year the EBITDA adjusted $XX.X to Consolidated ago million million $XX.X in

X.XXx, first at We $XXX.X of the balance months trailing remain at adjusted and We the in of ended quarter. ratio cash undrawn EBITDA. debt million, XXXX in sheet. $XXX leverage net $XXX quarter XX end the Looking a of gross our on million our revolver million of our with resulting

repurchased first cash our average at and a common of a weighted we paid quarter, stock quarterly shares share. In of of per dividend price $XX.XX share, the $X.XX we per XXX,XXX

We repurchase remaining our authorized under share recently have million $XXX.X $XXX program. million

To portfolio slightly in expectations. XXXX with than our GMV exceeded summarize, yield coming range results and QX better outlook internal financial

portfolio while We continue growth our in to targeted invest initiatives GMV performance. delivering

and return full free spend dividends our on through healthy repurchases. capital disciplined generation, we track SG&A to were able on to remain deliver cash year our flow on are and expectations. share we With shareholders Finally, to

outlook, would a I provided like year now quarter second key in release. few touch revised was full earnings which this our morning's and to on aspects of

balance, will QX with end our will growth which and GMV mentioned, is the carry Steve future The we period into the macroeconomic driver we asset positively key low despite gross As improving revenue. believe of a GMV challenges, impacts second the single-digit leased quarter, momentum year-over-year.

performance have gross actively as pre-pandemic difficult growth. Similar the expected second Leasing to to of balancing margins GMV Progressive normalized levels. purchases for QX strong XX-day while a is comparison segment will XXXX to Portfolio remain we manage with quarter to yields QX,

compared write-offs quarter by XXXX, seasonality. merchandise second increase to to the lease QX expect of We in driven normal

However, Progressive on track spending and year X% year. Leasing annual to as a to to we well at as of year full expect the We as SG&A level previously full a percentage to are XXXX should deliver flat within of on QX targeted disciplined range last a X%. for be as mentioned, revenue the XXXX remain that remain

the assumes first XXXX adjusted expectations revenue Our that It half. half earnings. outlook of lower back consolidated the than slightly for revised for the on raises EBITDA year margins both are and

to revised in XXXX and in for be demand to repurchases. range million, posture, to trends no share non-GAAP the in for our unemployment of leasable This decisioning assumes additional no the EPS outlook approximately $XXX in the XX% the $X.XXX range billion and of from tax effective and meaningful rate no changes consumer environment operating with goods, Our increase revenues impact adjusted non-GAAP billion, outlook range current for EPS consumer base, of of rates for to company's a million difficult calls for material $XXX EBITDA $X.XX soft the $X.XX. consolidated of in $X.XXX

further does or benefit not categories. environment downturn assume improving an leasable economic material revised from demand within outlook our Our a

the offerings with providing meet experience. include them conclude, customers To to we as journey transparent end-to-end our of financial empower to I strive by our want emphasize we a that them that seamless on needs

shareholders. our enable sales, and significant incremental retail to our value deliver also drive to expect We to we partners

to about optimistic while drive are growth, decisioning committed We our to disciplined efforts and remain strategic spending. we

I will the the the now back Q&A to turn the operator call portion over call. for Operator? of

Operator

Jefferies. Kyle first Our with Joseph comes Instructions] [Operator question from

Kyle Joseph

on bit the to backtrack just to Steve, start year. wanted a GMV. Nice I

Just that that it or And accelerate growth kind I outlook, about the February Obviously, or give that in quarter year the then on Is you forward. an think sense talked of us outlook? a for in kind the with to your March. of first cadence single-digit just quarter. really going is low second annual, seemed

Steven Michaels

ebbs did Yes, we the the slow January in half of of in see certainly a had GMV first off and in the off to quarter trends flows. retail February. sluggish We some start. calendar We through the second got a And as started rebounding little had quarter. dynamics some most

So March. and had extra the this March -- on never into day. which we XXst February, then to leap an a shifted you but day in But Easter year then the have of hurts landed holiday

we when about manage predicting as had calendar kind or low singles and to back puts get we to for of were GMV, we February because and the released we negative takes. So it rebound on it did flat. XX But earnings, some talked did

that. So with we're pleased

we've a but talk the shift about but As it Easter little performance -- confidence low month-to-date just bit comping, quarter. in us our a not relates growth gives a to us April, got -- that, second positive singles that of to gives holiday and

GMV the for lately we've of view quarter to we -- relates giving GMV practice been our in. current a we're it that outlook, kind As the in of

but would not for full year. be that QX, the So

to not hopefully forward July, year sure continue you to and we but more in accelerate. trends So a that was that these also that we on information doing full everything some can getting but look commentary, make

Kyle Joseph

more they've the And one just goes of retail me. partners, any partners right still a follow-up if POS financing you now, of it. potential Year-on-year the it with impacts accelerated going trade-down and are into or there impact, saying impact world how place. fee if, sense of that your retail on to But we're how any of some to I any discussions inclination would for given see when and late be or kind -- for and waiting Got front? CFTB just mean, kind proposal, that's what

Steven Michaels

which that. that. Yes. A that Vive a the but small sides really lot We've it's of mentioned, of our our business, both will a of business, impacted unknowns will got but regard. you have part from there, be table by we Obviously, as by in it view be impacted

changes with our certainly partners. that there are So the the above of timing having And there leasing secondary providers. that to will belief with of model unknown the -- And their and some credit the conversations retail be the the and my reduction include primary is Vive will be providers. unit on stack. credit that partners us but will it effect, -- its amount, economic is in to supply side, that, uncertain, the retail but It's having conversations in extent goes into

is about, tightening of though. been difficult that very and believe, effect talking timing the that, leasing with we predict we've business. So a coupled general just the is positive for that The trade-down to

Operator

comes question KeyBanc Thomas with Markets. next from Capital Brad Our

Bradley Thomas

ask question bigger mean, then of and Steve, just context, Maybe the play with think markets picture look the when to very strong your I that first specific. starting landscape, something in look seeing wanted you the a more results I in. initially we're we competitive putting that all, rates I growth end at Maybe into

get subprime to questions And a just landscape. the gains happening could But if other bit really look happening other happening you lease as or what seeing look as providers that space? we currents wondering little And alternatives at you're around later? anything, and cross what's what's competitive talk and in you pressure that's lot encouraging. what, in the financial buying like token, a about is term pay continue feel by you same the at So of share if I'm you

Steven Michaels

the big but there. Brad. the there's and very SMB always terms we've competitive it's And space have regional bifurcated or has there's competitive -- environment, before, -- a and and market. the business to a continues in enterprise Yes, been lease then a we we space. And There's are From said the really the be. specifically, this regional accounts

competitors that, ours both a that. outgrown recently focus our of that we can things space. certainly certainly are Some we'll continue and on in But is of doing do to focus that have and us

tightening types supply, to of will, forms side. will things the there. there. -- impacted it be BNPL be to just on be provisioning, we're by those plenty bit the there's we of As think a it of I seeing that we little from very Obviously, different other talked demand of leasing just relates things portfolio you things, if what categories trends do continues delinquency those that about, performance, whether

X basically chose the it rate whatever at because grow our at grow demand But to business technologies could there. is

reasons. the that -- throttling to for trend there. but are the I where are think growth We And we're neutral with going subprime supply, things other And profitability pleased is tightening.

not So it's side. in from not forward standpoint, enterprise making regions, setup to -- only and gains -- look a us in the to a for share it's that's a we neutral positive the

Bradley Thomas

helpful, play That's a do I And could particular, in again, factor historic you very few update comparability from just Steve. XX-day out as more tracking the specifically on where give think that, perspective? buyouts. a that's in on that's how the you been us follow-up margin quarters? the an know that's that's but next year-over-year And going gross to and affected

Brian Garner

right. see it's expectation record that the was time. we'd over Yes, articulated Brian. When the days. think in look Yes, a And were of from QX we we last normalize we year, comparison year that you're at Brad, I XX last low

QX level, a pretty few normalized since it's normal we margin in results, XXXX. but right really that's effectively now in in what's QX line. a at had years incorporated period, look gross back know we with line I a of is As going that

go-forward So what's of have for would will. least year-over-year, seen continuation back on normal will at you QX XXXX. our margin trend, but line difficult -- comparison margin with And that a we look in outlook a what in basis, here if that at we is incorporated more put in as

Operator

Nguyen from with Hoang comes question TD next Our Cowen.

Hoang Nguyen

Congrats on call. the

Just a quick me. one for

you So in April, maybe March sort I raising a in from your partner? the And or into cadence a seen of mean, you've I like did deeper that. of mean, penetration, improved to increasing the GMV? terms could it is dig to dig I little outlook, see you of function GMV, slightly into I an more want just mean outlook if bit from acceleration guys

Steven Michaels

Yes. as Yes, Thank platform having relates enterprise in mentioned with while. on integrations which been achieving a not our whom in of material in rebound you. the and demand environment to partners, it partners, success I in, we're the XXXX. quite we expecting remarks, our But the prepared have within as for many deeper partnering are a

or So of for whether tech reprioritization which or these waterfalls e-com pressures to demand date. haven't been we marketing that a causing card, are to done able be integration projects transactional get

so gaining are balance our within partners. share we're And that of those ways positive

to new platform, We e-comm as retailers, well as e-com omnichannel larger small also retailers well. continue believe we'll the as retailers to that with add brick-and-mortar the

So we're ability retailers will some as well it ones. impact from and new GMV, grow optimistic to about a existing joint our as be

mentioned trajectory the in before, us and predict that GMV and with GMV the with Part April As as pleased is growth, growth that. but it in relates to and Easter I low the singles, the it forecast holiday, confidence of to gave we we're albeit we're the well. pleased but of shift QX, from April, started a

Hoang Nguyen

follow-up Got just quick for a you. me. And

cited Anything planned I the, give guess, force. the your growth one color win you the your are I you for the planning? mean, faster sales curious. could in probably I mean, think, space? guess, guess, reasons in I that guys I that SMB, us back, Just I some about competitors have of largest

Steven Michaels

of Yes, factors lot there and urgency regions. create how are you a on in the partnership

people in touch is have the be that field people we phones, that in it and stores of some on or And points, whether the as well. or

hierarchy, the As someone the could further but about providers, multiple most one be -- one more applications stack. a provider person get down we've there's space, SMB regional and than of could the times, talked there space, many the --

multipronged through new So strategy number well and history that more relationships have indoors out regional better of productive a of adding players platform. as making a getting supporting there. it's lot doors a prioritization very And of of retailers to with a well those as business and long month we already in the leases we're per have doing

make and some So you to near will in I see real some -- should progress there terms. you expect think intermediate us the make

Operator

Our comes from with Griffin Bobby next James. Raymond question

Robert Griffin

growth, Steve, nice here circle during the to see the I back want to I on first really it GMV flip guess, quarter.

trying a requesting build a just share mix You on mixing on that or a you blocks your balance as called use gave as detail upside? little you up view to us is inside but can or metric. great in little a maybe it -- of the the like drove of revenue what of get to ticket, bit it Just the builders progression, kind out more of some unpack retailers? the bit underlying Was better building Progressive volume product, people

Steven Michaels

Yes, being many do be the is it's of in or of them I'll if a It us, primaries approved but let's served those more I the a need We've that's stack. the than of a the It's the which flexible might appropriate not reasons of for that with put that Bobby, I for will what start has those qualify But is And all people weakness. occurring not are talked several by payment last not years. I the about, over demand that that dollars, story, they traffic we can. fewer even be for. story. option down above few I'll for way. Ticket is talked traffic it you give a what it's that. But believe mean, kind flat. about ticket,

sure our what waterfalls we say of customer help. It's that I So as retailers reinforcing to about make and partnering with knowledgeable on getting that a are can difficult a little the the I quantify would the to bigger that's in call down. we with approved, product. done very apps that and to is having But most and it opportunities putting multiple they're training our the a be referred retail broadly sales part that trade associates educated so appropriate product the

we fully The into have LOPIS, we because of lease transactional retailers, sign a transactional customer getting our online where and the gain that home. that that what have things go obvious our their cart, would had, agreement, one call, and partnership lease being balance of into make in-store, half might is delivered more are to e-com the share, actually measure Those pickup not getting and the but a types a but are to was stickier in only store the us helping valuable. also support of

with this start didn't and started we will we're look the we print and quarter, -- forward it it's this paying 'XX this dividends So in pleased now, the and and in future. results 'XX, where that to

Robert Griffin

is weighing on you're any get actually that digits. trying in on it particular mention GMV? in see X of growth, across single an the there seeing you in we'd guys Just -- it to give detail particular And a dragging? about you break guess us flip, still side, good Is kind out maybe still there categories, down different the did And XX-K the one lot I of or outsized a but color? GMV provide is then that down a are sense or still verticals some vertical Is product more helpful. That's you stronger those comp that high X handful if is or can verticals?

Steven Michaels

longer, we the would those I out a with replacement say in broadly, the still a And about, not market, And be bit housing many demand furniture little people -- so and or stagnation during moving that forward as a formation. household of might are Well, pandemic, talked mattress are as cycles there pull drag. the right?

of of a bit a Smartphones little consumer as a shorter stayed much a the drag. but pretty makes So mattress call replacement jewelry because its the it, sense there. strong I'd forward rebound, bit challenges furniture rebound is electronics, of we're little to has We've looking some cycle. and throughout seen still well, have which in

mattress So there's say the some and larger puts and furniture I are would drags. takes, but

Robert Griffin

Very quarter. helpful. navigating a Congrats on challenging

Steven Michaels

Thanks, Bobby.

Operator

comes Our Loop next question Markets. Chukumba Capital Anthony with from

Anthony Chukumba

is and the So out gained marketing. -- of earlier you but mentioned this integrations to specifically called some retail to GMV balance questions, somewhat partners that and related key technical sales you

bit wondering just in side, a was if particularly little you successful the color, terms Just just what for on you? do able so more provide can there of you're marketing that to

Steven Michaels

being our Yes. joint part trip they are really network, well campaigns, seeing we've Progressive the preferred having our value with retailers being I many the times, within mean the even marketing and departments retailers' on doing campaigns, our marketing network. well, And joint logo. job sometimes embedded partner campaigns, function, of another is been the of and partnering partner nurture call what good our campaigns, department of promotional marketing -- campaigns a retailer ours we of that almost not are competitive a marketing in marketing,

it. benefits leaning into that, it because that so do they're of happy into And And leaning and to both us. we're we're

more getting because into partners' on which marketing, environments, customers, but the leaning to grow our can or helps we not sophisticated also customers partner new GMV either repeat only direct-to-consumer and We're into in-store our drive, online.

there's work see When but you'll in expense. going side decent not increase, XX-Q increase numbers, marketing earth-shattering the direct-to-consumer. hits, not so the a in some on amount on marketing And of massive,

ROAS, We return on expect continue see spend. positive to or ad continue as and we to healthy really that

those, the carts stack to the much pretty efforts then as us things but side partner and on like covered and acquisition channel, for e-comm customer complement driver and I've And on future. retail waterfalls marketing think the can a we direct-to-consumer technical So big our in that. be it's integrations, credit a

Anthony Chukumba

Got the helpful. a on sort it. the enterprise just as of my retail quick at update And level? obligatory then partner question. follow-up, particularly Any pipeline, That's like

Steven Michaels

strategy enterprise and someday. nothing Yes, on a spectrum, of hopefully and And to the part and super work it's the tail, it's look the our we'll in of other forward certainly focus big the focus, and it the on specific continue than ours our part side. to across something regions, regionals announcing it of long be whether

Anthony Chukumba

That's start year. helpful. And congrats to on the strong the

Steven Michaels

Anthony. Thanks,

Operator

not any the like I'm back remarks. turn time. this And for any at further to over closing I'd showing call Steve questions Michaels to

Steven Michaels

morning like for for us continued you in joining you. PROG. thank Thank interest to your I'd this and again

returning a great year. QX Our updating to the have We our in our start about growth teams job strong feel the and positioning portfolio. forward day. We a GMV delivered did great you July look and again a hope to of with you and good we to results,

Operator

and gentlemen, presentation. this Ladies today's does conclude

You and a have may disconnect, day. now wonderful

PROG (PRG) 24 Apr 242024 Q1 Earnings call transcript