Enova Reports Second Quarter 2025 Results
Enova International (NYSE: ENVA) reported strong Q2 2025 results with significant growth across key metrics. The company achieved total revenue of $764 million, up 22% year-over-year, and diluted EPS of $2.86, a 48% increase. Total originations grew 28% with record combined loans and finance receivables of $4.3 billion.
The company maintained solid credit performance with a net charge-off ratio of 8.1% and net revenue margin of 58%. Liquidity position remained strong at $1.1 billion. During Q2, Enova repurchased $54 million of common stock.
Additionally, Enova announced key leadership changes effective January 1, 2026: CEO David Fisher will transition to Executive Chairman, CFO Steve Cunningham will become CEO, and Scott Cornelis will assume the CFO role.
Enova International (NYSE: ENVA) ha riportato risultati solidi nel secondo trimestre del 2025 con una crescita significativa nei principali indicatori. La società ha raggiunto un fatturato totale di 764 milioni di dollari, in aumento del 22% rispetto all'anno precedente, e un utile diluito per azione (EPS) di 2,86 dollari, con un incremento del 48%. Le originazioni totali sono cresciute del 28%, con prestiti combinati e crediti finanziari record pari a 4,3 miliardi di dollari.
La società ha mantenuto una solida performance creditizia con un tasso netto di svalutazione dell'8,1% e un margine netto di ricavo del 58%. La posizione di liquidità è rimasta forte a 1,1 miliardi di dollari. Nel corso del secondo trimestre, Enova ha riacquistato 54 milioni di dollari di azioni ordinarie.
Inoltre, Enova ha annunciato importanti cambiamenti nella leadership a partire dal 1° gennaio 2026: il CEO David Fisher passerà a Presidente Esecutivo, il CFO Steve Cunningham assumerà il ruolo di CEO e Scott Cornelis diventerà CFO.
Enova International (NYSE: ENVA) reportó sólidos resultados en el segundo trimestre de 2025 con un crecimiento significativo en métricas clave. La compañía alcanzó un ingreso total de 764 millones de dólares, un aumento del 22% interanual, y un EPS diluido de 2,86 dólares, un incremento del 48%. Las originaciones totales crecieron un 28%, con préstamos combinados y cuentas por cobrar financieras récord de 4,3 mil millones de dólares.
La empresa mantuvo un sólido desempeño crediticio con una tasa neta de incobrables del 8,1% y un margen neto de ingresos del 58%. La posición de liquidez se mantuvo fuerte en 1,1 mil millones de dólares. Durante el segundo trimestre, Enova recompró 54 millones de dólares en acciones comunes.
Además, Enova anunció cambios clave en su liderazgo efectivos a partir del 1 de enero de 2026: el CEO David Fisher pasará a ser Presidente Ejecutivo, el CFO Steve Cunningham asumirá el cargo de CEO, y Scott Cornelis será el nuevo CFO.
Enova International (NYSE: ENVA)는 2025년 2분기에 주요 지표 전반에 걸쳐 강한 성장세를 보이며 우수한 실적을 보고했습니다. 회사는 총 매출 7억 6,400만 달러를 기록하여 전년 대비 22% 증가했고, 희석 주당순이익(EPS) 2.86달러로 48% 상승했습니다. 총 대출 실행액은 28% 증가했으며, 총 대출 및 금융채권 잔액이 43억 달러로 사상 최고를 기록했습니다.
회사는 순 대손비율 8.1%와 순수익 마진 58%로 견고한 신용 성과를 유지했습니다. 유동성은 11억 달러로 강한 상태를 유지했습니다. 2분기 동안 Enova는 5,400만 달러 규모의 보통주를 자사주 매입했습니다.
또한 Enova는 2026년 1월 1일부터 적용되는 주요 리더십 변동을 발표했습니다: CEO 데이비드 피셔는 집행 의장으로 전환하며, CFO 스티브 커닝햄이 CEO가 되고, 스콧 코넬리스가 CFO 역할을 맡습니다.
Enova International (NYSE : ENVA) a annoncé de solides résultats pour le deuxième trimestre 2025 avec une croissance significative sur les indicateurs clés. La société a réalisé un chiffre d'affaires total de 764 millions de dollars, en hausse de 22 % en glissement annuel, et un bénéfice dilué par action (EPS) de 2,86 dollars, soit une augmentation de 48 %. Les originations totales ont augmenté de 28 %, avec un montant record de prêts combinés et créances financières de 4,3 milliards de dollars.
L’entreprise a maintenu une solide performance crédit avec un taux net de pertes sur créances de 8,1 % et une marge nette de revenus de 58 %. La position de liquidité est restée forte à 1,1 milliard de dollars. Au cours du deuxième trimestre, Enova a racheté pour 54 millions de dollars d’actions ordinaires.
Par ailleurs, Enova a annoncé des changements clés dans sa direction effectifs au 1er janvier 2026 : le PDG David Fisher deviendra président exécutif, le directeur financier Steve Cunningham prendra la fonction de PDG, et Scott Cornelis assumera le rôle de directeur financier.
Enova International (NYSE: ENVA) meldete starke Ergebnisse für das zweite Quartal 2025 mit erheblichem Wachstum bei den wichtigsten Kennzahlen. Das Unternehmen erzielte einen Gesamtumsatz von 764 Millionen US-Dollar, ein Plus von 22 % im Jahresvergleich, sowie ein verwässertes Ergebnis je Aktie (EPS) von 2,86 US-Dollar, was einem Anstieg von 48 % entspricht. Die Gesamtfinanzierungen wuchsen um 28 % mit rekordverdächtigen kombinierten Darlehen und Finanzforderungen von 4,3 Milliarden US-Dollar.
Das Unternehmen hielt eine solide Kreditperformance mit einer Nettoausfallquote von 8,1 % und einer Nettoertragsmarge von 58 %. Die Liquiditätslage blieb mit 1,1 Milliarden US-Dollar stark. Im zweiten Quartal kaufte Enova Aktien im Wert von 54 Millionen US-Dollar zurück.
Zusätzlich kündigte Enova wichtige Führungswechsel zum 1. Januar 2026 an: CEO David Fisher wird zum Executive Chairman, CFO Steve Cunningham wird CEO, und Scott Cornelis übernimmt die CFO-Position.
- Revenue increased 22% YoY to $764 million
- Diluted EPS grew 48% YoY to $2.86
- Record loan portfolio of $4.3 billion, up 20% YoY
- Strong originations growth of 28% YoY to $1.8 billion
- Robust liquidity position of $1.1 billion
- Continued shareholder returns with $54 million in share repurchases
- Slight decline in net revenue margin to 58% from 59% YoY
- Net charge-off ratio of 8.1% indicates credit losses
Insights
Enova posts impressive Q2 with 22% revenue growth, 48% EPS growth, and strong credit metrics despite economic uncertainties.
Enova delivered exceptional Q2 2025 results with revenue climbing
The most impressive aspect is Enova's profitability trajectory. Diluted EPS jumped
Credit quality remains robust despite the expansion, with a net charge-off ratio of
The company maintains a strong balance sheet with
Looking ahead, the planned leadership transition is well-structured with the current CFO Steve Cunningham taking over as CEO in January 2026, while current CEO David Fisher will remain as Executive Chairman for at least two years. This thoughtful succession plan with significant overlap should ensure continuity in Enova's successful growth strategy and minimize transition risks.
- Originations rose
28% and total company revenue increased22% from the second quarter of 2024 - Diluted earnings per share of
$2.86 48% and adjusted earnings per share1 of$3.23 46% compared to the second quarter of 2024 - Consolidated credit performance remained strong with a net charge-off ratio of
8.1% and net revenue margin of58% - Year-over-year improvement in the consolidated 30+ day delinquency ratio of
7.1% and stability in the consolidated portfolio fair value premium of115% reflect a stable credit outlook - Liquidity, including cash and marketable securities and available capacity on facilities, totaled
$1.1 billion - Share repurchases during the quarter totaled
$54 million
"We are pleased to report another quarter of strong performance," said David Fisher, Enova's CEO. "For the fifth quarter in a row, we generated greater than
Second Quarter 2025 Summary
- Total revenue of
$764 million increased22% from$628 million in the second quarter of 2024. - Net revenue margin of
58% compared to59% in the second quarter of 2024, reflecting continued solid credit performance. - Net income of
$76 million , or$2.86 per diluted share, increased41% from$54 million $1.93 per diluted share, in the second quarter of 2024. - Adjusted EBITDA1 of
$203 million increased25% from$163 million in the second quarter of 2024. - Adjusted earnings per share1 of
$3.23 increased46% from$2.21 - Total company combined loans and finance receivables1 increased
20% from the end of the second quarter of 2024 to a record$4.3 billion $1.8 billion - Repurchased
$54 million
1 Non-GAAP measure. Refer to "Non-GAAP Financial Measures," "Loans and Finance Receivables Financial and Operating Data," and "Reconciliation of GAAP to Non-GAAP Financial Measures" below for additional information. |
"Our second quarter results reflect the strength of our diversified product offerings and the ability of our team to deliver strong originations growth, revenue and profitability while maintaining solid credit," said Steve Cunningham, CFO of Enova. "Our focused growth strategy, sophisticated unit economics decisioning and solid balance sheet support our ability to successfully navigate a range of operating environments and deliver on our commitment to driving long-term shareholder value through both continued investments in our business and share repurchases."
Enova Announces Planned Key Senior Leadership Changes
Enova today announced planned key senior leadership changes, which reflect the Company's long-term leadership transition planning. David Fisher, Enova's Chairman of the Board and Chief Executive Officer, will transition to the role of Executive Chairman of the Board of Directors, effective January 1, 2026, and will continue to lead the Board of Directors on company strategy while supporting stability and continuity during the leadership transitions. Fisher intends to serve as Executive Chairman for at least two years. Steve Cunningham, Enova's current Chief Financial Officer, will succeed Fisher as CEO, effective January 1, 2026. In addition, Cunningham has joined the Board of Directors, effective immediately. Scott Cornelis, current Treasurer and Vice President of Finance for Enova, will succeed Steve Cunningham as CFO, effective January 1, 2026. The details of the announcement can be accessed here.
Conference Call
Enova will host a conference call to discuss its second quarter 2025 results at 4 p.m. Central Time / 5 p.m. Eastern Time today, July 24th. The live webcast of the call can be accessed at the Enova Investor Relations website at http://ir.enova.com, along with the company's earnings press release and supplemental financial information. The
About Enova
Enova International (NYSE: ENVA) is a leading online financial services company that serves small businesses and consumers who are underserved by traditional banks. For over 20 years, Enova has provided over
Cautionary Statement Concerning Forward Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about the business, financial condition and prospects of Enova. These forward-looking statements give current expectations or forecasts of future events and reflect the views and assumptions of Enova's senior management with respect to the business, financial condition and prospects of Enova as of the date of this release and are not guarantees of future performance. The actual results of Enova could differ materially from those indicated by such forward-looking statements because of various risks and uncertainties applicable to Enova's business, including, without limitation, those risks and uncertainties indicated in Enova's filings with the Securities and Exchange Commission ("SEC"), including our annual report on Form 10-K, quarterly reports on Forms 10-Q and current reports on Forms 8-K. These risks and uncertainties are beyond the ability of Enova to control, and, in many cases, Enova cannot predict all of the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. When used in this release, the words "believes," "estimates," "plans," "expects," "anticipates" and similar expressions or variations as they relate to Enova or its management are intended to identify forward-looking statements. Enova cautions you not to put undue reliance on these statements. Enova disclaims any intention or obligation to update or revise any forward-looking statements after the date of this release.
Non-GAAP Financial Measures
In addition to the financial information prepared in conformity with generally accepted accounting principles in
Management provides non-GAAP financial information for informational purposes and to enhance understanding of Enova's GAAP consolidated financial statements. Readers should consider the information in addition to, but not instead of or superior to, Enova's financial statements prepared in accordance with GAAP. This non-GAAP financial information may be determined or calculated differently by other companies, limiting the usefulness of those measures for comparative purposes.
Combined Loans and Finance Receivables
The combined loans and finance receivables measures are non-GAAP measures that include loans and finance receivables that Enova owns or has purchased and loans that Enova guarantees. Management believes these non-GAAP measures provide management and investors with important information needed to evaluate the magnitude of potential receivable losses and the opportunity for revenue performance of the loans and finance receivable portfolio on an aggregate basis. Management also believes that the comparison of the aggregate amounts from period to period is more meaningful than comparing only the amounts reflected on Enova's consolidated balance sheet since revenue is impacted by the aggregate amount of receivables owned by Enova and those guaranteed by Enova as reflected in its consolidated financial statements.
Adjusted Earnings Measures
Enova provides adjusted earnings and adjusted earnings per share, or, collectively, the Adjusted Earnings Measures, which are non-GAAP measures. Management believes that the presentation of these measures provides investors with greater transparency and facilitates comparison of operating results across a broad spectrum of companies with varying capital structures, compensation strategies, derivative instruments and amortization methods, which can provide a more complete understanding of Enova's financial performance, competitive position and prospects for the future. Management utilizes, and also believes that investors utilize, the Adjusted Earnings Measures to assess operating performance, recognizing that such measures may highlight trends in Enova's business that may not otherwise be apparent when relying on financial measures calculated in accordance with GAAP. In addition, management believes that the Adjusted Earnings Measures are useful to management and investors in comparing Enova's financial results during the periods shown without the effect of certain items that are not indicative of Enova's core operating performance or results of operations.
Adjusted EBITDA Measures
Enova provides Adjusted EBITDA and Adjusted EBITDA margin, or, collectively, the Adjusted EBITDA measures, which are non-GAAP measures. Adjusted EBITDA is a non-GAAP measure that Enova defines as earnings excluding depreciation, amortization, interest, foreign currency transaction gains or losses, taxes, stock-based compensation and certain other items, as appropriate, that are not indicative of our core operating performance. Adjusted EBITDA margin is a non-GAAP measure that Enova defines as Adjusted EBITDA as a percentage of total revenue. Management utilizes, and also believes that investors utilize, Adjusted EBITDA Measures to analyze operating performance and evaluate Enova's ability to incur and service debt and Enova's capacity for making capital expenditures. Enova believes that Adjusted EBITDA is useful to management and investors in comparing Enova's financial results during the periods shown without the effect of certain non-cash items and certain items that are not indicative of Enova's core operating performance or results of operations. Adjusted EBITDA Measures are also useful to investors to help assess Enova's estimated enterprise value.
ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (dollars in thousands, except per share data) (Unaudited) | ||||||||||||
June 30, | December 31, | |||||||||||
2025 | 2024 | 2024 | ||||||||||
Assets | ||||||||||||
Cash and cash equivalents | $ | 55,560 | $ | 60,138 | $ | 73,910 | ||||||
Restricted cash | 323,883 | 211,167 | 248,758 | |||||||||
Loans and finance receivables at fair value | 4,773,315 | 3,939,159 | 4,386,444 | |||||||||
Income taxes receivable | 35,586 | 68,732 | 40,690 | |||||||||
Other receivables and prepaid expenses | 78,045 | 71,172 | 63,752 | |||||||||
Property and equipment, net | 127,686 | 115,061 | 119,956 | |||||||||
Operating lease right-of-use assets | 17,781 | 13,180 | 18,201 | |||||||||
Goodwill | 279,275 | 279,275 | 279,275 | |||||||||
Intangible assets, net | 6,923 | 14,978 | 10,951 | |||||||||
Other assets | 26,699 | 44,229 | 24,194 | |||||||||
Total assets | $ | 5,724,753 | $ | 4,817,091 | $ | 5,266,131 | ||||||
Liabilities and Stockholders' Equity | ||||||||||||
Accounts payable and accrued expenses | $ | 257,509 | $ | 333,972 | $ | 249,970 | ||||||
Operating lease liabilities | 32,654 | 26,511 | 32,165 | |||||||||
Deferred tax liabilities, net | 242,421 | 114,959 | 223,590 | |||||||||
Long-term debt | 3,963,514 | 3,194,121 | 3,563,482 | |||||||||
Total liabilities | 4,496,098 | 3,669,563 | 4,069,207 | |||||||||
Commitments and contingencies | ||||||||||||
Stockholders' equity: | ||||||||||||
Common stock, | — | — | — | |||||||||
Preferred stock, | — | — | — | |||||||||
Additional paid in capital | 346,926 | 308,481 | 328,268 | |||||||||
Retained earnings | 1,846,848 | 1,590,645 | 1,697,754 | |||||||||
Accumulated other comprehensive loss | (8,853) | (10,749) | (13,691) | |||||||||
Treasury stock, at cost (22,106,516, 19,875,678 and 20,712,820 | (956,266) | (740,849) | (815,407) | |||||||||
Total stockholders' equity | 1,228,655 | 1,147,528 | 1,196,924 | |||||||||
Total liabilities and stockholders' equity | $ | 5,724,753 | $ | 4,817,091 | $ | 5,266,131 | ||||||
ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (in thousands, except per share data) (Unaudited) | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Revenue | $ | 764,043 | $ | 628,436 | $ | 1,509,584 | $ | 1,238,325 | ||||||||
Change in Fair Value | (322,585) | (258,245) | (641,944) | (522,268) | ||||||||||||
Net Revenue | 441,458 | 370,191 | 867,640 | 716,057 | ||||||||||||
Operating Expenses | ||||||||||||||||
Marketing | 142,848 | 120,765 | 282,139 | 231,332 | ||||||||||||
Operations and technology | 63,648 | 54,953 | 126,110 | 109,332 | ||||||||||||
General and administrative | 40,508 | 39,708 | 82,972 | 79,573 | ||||||||||||
Depreciation and amortization | 10,348 | 9,709 | 20,409 | 19,972 | ||||||||||||
Total Operating Expenses | 257,352 | 225,135 | 511,630 | 440,209 | ||||||||||||
Income from Operations | 184,106 | 145,056 | 356,010 | 275,848 | ||||||||||||
Interest expense, net | (82,781) | (70,954) | (163,325) | (136,551) | ||||||||||||
Foreign currency transaction gain (loss) | 134 | (19) | (318) | (67) | ||||||||||||
Equity method investment income | 613 | — | 733 | — | ||||||||||||
Other nonoperating expenses | (1,019) | (521) | (1,019) | (1,013) | ||||||||||||
Income before Income Taxes | 101,053 | 73,562 | 192,081 | 138,217 | ||||||||||||
Provision for income taxes | 24,904 | 19,651 | 42,987 | 35,878 | ||||||||||||
Net income | $ | 76,149 | $ | 53,911 | $ | 149,094 | $ | 102,339 | ||||||||
Earnings Per Share | ||||||||||||||||
Earnings per common share: | ||||||||||||||||
Basic | $ | 3.01 | $ | 2.00 | $ | 5.85 | $ | 3.71 | ||||||||
Diluted | $ | 2.86 | $ | 1.93 | $ | 5.51 | $ | 3.56 | ||||||||
Weighted average common shares outstanding: | ||||||||||||||||
Basic | 25,297 | 26,938 | 25,486 | 27,567 | ||||||||||||
Diluted | 26,646 | 27,941 | 27,062 | 28,722 | ||||||||||||
ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (dollars in thousands) (Unaudited) | ||||||||
Six Months Ended June 30, | ||||||||
2025 | 2024 | |||||||
Total cash flows provided by operating activities | $ | 838,508 | $ | 709,505 | ||||
Cash flows from investing activities | ||||||||
Loans and finance receivables | (1,013,727) | (827,638) | ||||||
Capitalization of software development costs and purchases of fixed assets | (24,099) | (22,312) | ||||||
Total cash flows used in investing activities | (1,037,826) | (849,950) | ||||||
Cash flows provided by financing activities | 255,953 | 35,159 | ||||||
Effect of exchange rates on cash, cash equivalents and restricted cash | 140 | (848) | ||||||
Net increase (decrease) in cash, cash equivalents and restricted cash | 56,775 | (106,134) | ||||||
Cash, cash equivalents and restricted cash at beginning of year | 322,668 | 377,439 | ||||||
Cash, cash equivalents and restricted cash at end of period | $ | 379,443 | $ | 271,305 | ||||
ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES
LOANS AND FINANCE RECEIVABLES FINANCIAL AND OPERATING DATA
(dollars in thousands)
The following table includes financial information for loans and finance receivables, which is based on loan and finance receivable balances for the three months ended June 30, 2025 and 2024.
Three Months Ended June 30, | 2025 | 2024 | Change | |||||||||
Ending combined loan and finance receivable principal balance: | ||||||||||||
Company owned | $ | 4,141,113 | $ | 3,423,652 | $ | 717,461 | ||||||
Guaranteed by the Company(a) | 16,762 | 12,487 | 4,275 | |||||||||
Total combined loan and finance receivable principal balance(b) | $ | 4,157,875 | $ | 3,436,139 | $ | 721,736 | ||||||
Ending combined loan and finance receivable fair value balance: | ||||||||||||
Company owned | $ | 4,773,315 | $ | 3,939,159 | $ | 834,156 | ||||||
Guaranteed by the Company(a) | 23,777 | 17,284 | 6,493 | |||||||||
Ending combined loan and finance receivable fair value balance(b) | $ | 4,797,092 | $ | 3,956,443 | $ | 840,649 | ||||||
Fair value as a % of principal(c) | 115.4 | % | 115.1 | % | 0.3 | % | ||||||
Ending combined loan and finance receivable balance, including principal | ||||||||||||
Company owned | $ | 4,298,675 | $ | 3,569,726 | $ | 728,949 | ||||||
Guaranteed by the Company(a) | 20,014 | 14,941 | 5,073 | |||||||||
Ending combined loan and finance receivable balance(b) | $ | 4,318,689 | $ | 3,584,667 | $ | 734,022 | ||||||
Average combined loan and finance receivable balance, including | ||||||||||||
Company owned(d) | $ | 4,201,674 | $ | 3,485,739 | $ | 715,935 | ||||||
Guaranteed by the Company(a)(d) | 18,495 | 13,730 | 4,765 | |||||||||
Average combined loan and finance receivable balance(a)(d) | $ | 4,220,169 | $ | 3,499,469 | $ | 720,700 | ||||||
Installment loans as percentage of average combined loan and | 44.2 | % | 47.7 | % | (3.5) | % | ||||||
Line of credit accounts as percentage of average combined loan and | 55.8 | % | 52.3 | % | 3.5 | % | ||||||
Revenue | $ | 754,577 | $ | 619,340 | $ | 135,237 | ||||||
Change in fair value | (320,556) | (255,980) | (64,576) | |||||||||
Net revenue | $ | 434,021 | $ | 363,360 | $ | 70,661 | ||||||
Net revenue margin | 57.5 | % | 58.7 | % | (1.2) | % | ||||||
Combined loan and finance receivable originations and purchases | $ | 1,803,049 | $ | 1,408,654 | $ | 394,395 | ||||||
Delinquencies: | ||||||||||||
>30 days delinquent | $ | 305,583 | $ | 268,053 | $ | 37,530 | ||||||
>30 days delinquent as a % of combined loan and finance receivable | 7.1 | % | 7.5 | % | (0.4) | % | ||||||
Charge-offs: | ||||||||||||
Charge-offs (net of recoveries) | $ | 342,880 | $ | 268,386 | $ | 74,494 | ||||||
Charge-offs (net of recoveries) as a % of average combined loan and | 8.1 | % | 7.7 | % | 0.4 | % | ||||||
(a) | Represents loans originated by third-party lenders through the CSO programs, which are not included in our consolidated balance sheets. |
(b) | Non-GAAP measure. |
(c) | Determined using period-end balances. |
(d) | The average combined loan and finance receivable balance is the average of the month-end balances during the period. |
ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (dollars in thousands, except per share data) | ||||||||||||||||
Adjusted Earnings Measures | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Net income | $ | 76,149 | $ | 53,911 | $ | 149,094 | $ | 102,339 | ||||||||
Adjustments: | ||||||||||||||||
Transaction-related costs(a) | — | — | — | 327 | ||||||||||||
Equity method investment income | (613) | — | (733) | — | ||||||||||||
Other nonoperating expenses(b) | 1,019 | 521 | 1,019 | 1,013 | ||||||||||||
Intangible asset amortization | 2,013 | 2,013 | 4,027 | 4,027 | ||||||||||||
Stock-based compensation expense | 8,106 | 7,764 | 16,042 | 15,403 | ||||||||||||
Foreign currency transaction (gain) loss | (134) | 19 | 318 | 67 | ||||||||||||
Cumulative tax effect of adjustments | (488) | (2,590) | (2,976) | (5,232) | ||||||||||||
Adjusted earnings | $ | 86,052 | $ | 61,638 | $ | 166,791 | $ | 117,944 | ||||||||
Diluted earnings per share | $ | 2.86 | $ | 1.93 | $ | 5.51 | $ | 3.56 | ||||||||
Adjusted earnings per share | $ | 3.23 | $ | 2.21 | $ | 6.16 | $ | 4.11 | ||||||||
Adjusted EBITDA Measures | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Net income | $ | 76,149 | $ | 53,911 | $ | 149,094 | $ | 102,339 | ||||||||
Depreciation and amortization expenses | 10,348 | 9,709 | 20,409 | 19,972 | ||||||||||||
Interest expense, net | 82,781 | 70,954 | 163,325 | 136,551 | ||||||||||||
Foreign currency transaction (gain) loss | (134) | 19 | 318 | 67 | ||||||||||||
Provision for income taxes | 24,904 | 19,651 | 42,987 | 35,878 | ||||||||||||
Stock-based compensation expense | 8,106 | 7,764 | 16,042 | 15,403 | ||||||||||||
Adjustments: | ||||||||||||||||
Transaction-related costs(a) | — | — | — | 327 | ||||||||||||
Equity method investment income | (613) | — | (733) | — | ||||||||||||
Other nonoperating expenses(b) | 1,019 | 521 | 1,019 | 1,013 | ||||||||||||
Adjusted EBITDA | $ | 202,560 | $ | 162,529 | $ | 392,461 | $ | 311,550 | ||||||||
Adjusted EBITDA margin calculated as follows: | ||||||||||||||||
Total Revenue | $ | 764,043 | $ | 628,436 | $ | 1,509,584 | $ | 1,238,325 | ||||||||
Adjusted EBITDA | 202,560 | 162,529 | 392,461 | 311,550 | ||||||||||||
Adjusted EBITDA as a percentage of total revenue | 26.5 | % | 25.9 | % | 26.0 | % | 25.2 | % | ||||||||
(a) | In the first quarter of 2024, the Company recorded |
(b) | In the second quarter of 2025 and the first and second quarters of 2024, the Company recorded other nonoperating expense of |
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SOURCE Enova International, Inc.
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