PRA Group Inc (NAS:PRAA)

Q4 2025 PRA Group Inc Earnings Call Transcript

Feb 26, 2026 / 10:00 PM GMT

Release Date Price: $12.67 (+8.29%)

Transcript 10-K8-K

Key Points

Positve

PRA Group Inc (PRAA) achieved record cash collections of $2.1 billion in 2025, driven by operational improvements and strong performance in both the US and Europe.
The company reported record revenue of $1.2 billion, with adjusted cash efficiency improving to 61% from 59% the previous year.
PRA Group Inc (PRAA) made significant progress in modernizing its IT platform, with all core markets in Europe on a common cloud platform and ongoing cloud migration in the US.
The company has been leveraging AI technologies to enhance operational efficiencies, including document processing and interactive chatbots.
PRA Group Inc (PRAA) maintained a strong and diversified capital structure, with leverage declining from 2.9 times in 2024 to 2.7 times at the end of 2025.

Negative

The company faced a non-cash goodwill impairment charge of $413 million in the third quarter, leading to a net loss attributable to PRA of $305 million for the full year.
Operating expenses increased to $1.2 billion for the full year, with legal collection costs rising by 30% compared to the prior year.
Despite improvements, the competitive market in Europe remains a challenge, requiring strategic capital allocation to markets with the best returns.
PRA Group Inc (PRAA) had to eliminate over 115 corporate and overhead roles in the fourth quarter, resulting in annualized gross savings of $20 million.
The company anticipates variability in net income on a quarterly basis, with Q1 expected to have higher operating expenses due to enhanced marketing efforts.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PRAA.OQ - PRA Group Inc
Q4 2025 PRA Group Inc Earnings Call
Feb 26, 2026 / 10:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good evening and welcome to PRA Group's 4th quarter and full year 2025 conference call.

All participants will be in listen-only mode.

Should you need assistance, please signal a conference specialist by pressing the key followed by 0.

After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press then the number one on your touchstone phone.

Luis roll your question, please press star, then the number 2.

Please note this event is being recorded.

I would now like to turn the call over to Mr. Najim Maserman, Vice President, Investor relations for PRA Group. Please go ahead.

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