CURO Group Holdings Corp. Stock Price, News & Analysis

CURO Group Holdings Corp. (NYSE: CURO) has announced that Rebecca Fox will take over the legal leadership role following the departure of Vin Thomas next month. Ms. Fox, currently the General Counsel and Chief Privacy Officer, has been with CURO since July 2017 and has extensive experience in consumer finance, including a prior position at Lending Club. CEO Don Gayhardt expressed confidence in her ability to transition smoothly into the new role. The company, founded in 1997, provides diverse financial solutions across the U.S. and Canada, supporting non-prime and prime consumers.

CURO Group Holdings Corp. (NYSE: CURO) announced the closure of C$50 million in additional committed capacity to its Canada SPV facility as of March 31, 2022. This expansion raises the total committed capacity to C$400 million, up from C$350 million as of December 31, 2021. CFO Roger Dean emphasized that this growth demonstrates strong portfolio performance and positions CURO to efficiently support Canadian non-prime lending. The company aims to enhance its financing capabilities for Canadian Direct Lending and Flexiti.

CURO Group Holdings Corp. (NYSE: CURO) reported its Q4 2021 results, showing an 11% increase in revenue to $224.3 million compared to Q4 2020. The company acquired Heights Finance, contributing $472 million to gross loans receivable, which grew by 179.6% year-over-year. Net loss reached $28.9 million, reflecting increased loan provisioning and operating expenses. For the full year, total revenue was $817.8 million, a 3.5% decrease compared to 2020. Despite challenges, CURO focused on growth and execution of acquisitions to expand its lending capabilities.

CURO Group Holdings Corp. (NYSE: CURO) is set to release its fourth quarter and full year 2021 financial results on February 8, 2022, after market close. A conference call to discuss these results will occur the following morning at 8:15 a.m. Eastern Time on February 9, 2022. Investors can access the live webcast through CURO's website. CURO, founded in 1997, offers a range of credit solutions across the U.S. and Canada, driven by alternative data to optimize its underwriting processes.

CURO Group Holdings Corp. (NYSE: CURO) has appointed Issac Vaughn, COO of Zenefits, to its Board of Directors effective January 27, 2022. Vaughn will also join the Nominating and Corporate Governance Committee. His extensive experience in operations and corporate development is expected to enhance CURO's leadership. Concurrently, Doug Rippel, co-founder and Executive Chairman, will retire from the Board after the 2022 annual meeting, with Chris Masto taking over as Chairman. This leadership change aims to support CURO's growth strategy in offering diverse credit solutions.

Flexiti Financial announced the appointment of Tracey Whittall as Chief Operating Officer. Tracey, with over 20 years in the financial services industry, including significant experience at CIBC, will enhance Flexiti's service delivery by overseeing call centre management and operations. This strategic role is crucial following a record-breaking 2021 for Flexiti, which provides 0% interest financing solutions at over 7,500 retail locations across Canada. Flexiti aims to strengthen its customer service and operational excellence under Tracey's leadership.

CURO Group Holdings Corp. (NYSE: CURO) has completed the acquisition of Heights Finance for $360 million, which includes $335 million in cash and $25 million in CURO common stock. This acquisition is expected to enhance CURO's strategic transition towards offering longer-term, higher-balance, and lower-rate credit products. The deal is projected to be immediately accretive to CURO's earnings and values Heights Finance at 6.5 times its estimated adjusted earnings before taxes of $55 million for 2022.

Flexiti Financial Inc., a top Canadian BNPL provider, announced a new C$527 million securitization facility led by National Bank and backed by Bank of Montreal and Waterfall Asset Management. This funding, along with an existing C$500 million revolving credit facility, gives Flexiti over C$1 billion to support its growing consumer receivables portfolio. In November alone, the company originated over C$125 million in new loans, marking a fourfold increase in volume. Flexiti has originated over C$1.4 billion in loans and ranks among Canada's fastest-growing companies.

CURO Group Holdings Corp. (NYSE: CURO) announced participation in two key investor conferences. CEO Don Gayhardt will engage in a fireside chat on December 1, 2021 at 9:00 a.m. ET during the Stephens Annual Investment Conference, with a live webcast available on the CURO Investors website. On December 9, 2021, Gayhardt and the executive team will host investor meetings at the Jefferies Consumer Finance Summit. CURO provides a range of consumer finance solutions, serving both non-prime and prime markets in the U.S. and Canada.