PROG Holdings, Inc. Investor Day Recap: Strategic Vision Outlined Including Selective Three-Year CAGR Financial Targets

Key Terms

cagr financial

Compound Annual Growth Rate (CAGR) measures the average yearly growth of an investment, revenue, or other metric over a multi-year period as if it had grown at a steady rate each year. Think of it like the constant speed that would take you from the starting value to the ending value over the same time—useful because it smooths out ups and downs and lets investors compare different assets or performance periods on an even footing.

gmv financial

Gross merchandise value (GMV) is the total dollar value of all goods and services sold through a platform or marketplace over a given period, measured before deducting fees, returns, or discounts. Investors watch GMV to gauge the raw size and growth of customer activity—like counting every ticket sold at a concert before subtracting organizer costs—while remembering it is not the same as revenue or profit.

aebitda financial

AEBITDA stands for adjusted earnings before interest, taxes, depreciation and amortization — a measure of a company’s cash-generating performance that removes non-cash charges and one-time or unusual items. It matters to investors because it aims to show the underlying operating profit like cleaning away weather-related dirt from a window so you can see the steady picture of the business, helping compare performance across periods or companies.

adjusted non-gaap eps financial

Adjusted non-GAAP EPS is a company’s reported profit per share that has been changed by management to exclude certain one-time, non-cash, or irregular items so the number aims to show the business’s ongoing earning power. Investors use it like a filtered view — similar to removing clutter from a room to see its true size — to compare performance across quarters or companies, but it requires care because the adjustments vary and can be subjective.

free cash flow financial

Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.

ai technical

Artificial intelligence (AI) is technology that enables machines to mimic human thinking and learning, allowing them to analyze information, recognize patterns, and make decisions. For investors, AI matters because it can improve how businesses operate, create new products, or identify opportunities faster and more accurately than humans alone, potentially impacting company success and market trends.

buy now, pay later financial

A payment option that lets a buyer take a purchase immediately and split the cost into a few smaller, scheduled payments instead of paying the full amount up front. For investors, it matters because it can boost sales and customer loyalty for merchants, create fee and interest income for the lender, and introduce credit, default and regulatory risks that can affect revenue and valuation much like a change in a company’s loan book or consumer demand would.

SALT LAKE CITY--(BUSINESS WIRE)-- PROG Holdings, Inc. (NYSE:PRG), the fintech holding company for Progressive Leasing, Four Technologies, MoneyApp, and Purchasing Power, hosted its Investor Day in New York City on March 10, 2026.

Members of the PROG leadership team outlined the Company’s strategy to evolve from a leasing-centric business to a multi-product consumer access platform and shared consolidated three-year compound annual growth rates expected for select financial metrics.

“Investor Day marked an important milestone in PROG’s evolution,” said Steve Michaels, President and Chief Executive Officer. “We are building a connected, multi-product platform designed to serve one core customer across a broader set of needs—powered by a shared digital and data foundation, strengthened by durable distribution, and executed with the discipline we believe will generate meaningful free cash flow.”

Investor Day Themes and Strategic Framework

At Investor Day, PROG management emphasized a strategy focused on profitable growth across a diversified product portfolio, supported by a scalable operating model:

• Evolving to a multi-product platform: PROG is expanding beyond Progressive Leasing with the growth of Four, MoneyApp, and the addition of Purchasing Power, creating more ways to acquire, serve, and retain customers across multiple financial needs.
• Structural cost savings enabled by technology modernization and AI: PROG is modernizing core systems and deploying automation and AI-enabled servicing to reduce cost to serve, accelerate delivery, and improve customer and partner experiences.
• Data-driven marketing and personalization accelerated by proprietary data: PROG is leveraging a proprietary dataset built from years of customer behavioral and payment performance data to improve marketing effectiveness, personalization, and decision precision across products. A shared data approach is underway today, with key capabilities already deployed and expanding over time.
• Deep competitive moat through breadth of distribution channels: PROG’s distribution engine includes exclusive, multi-year enterprise retail relationships representing approximately 70% of Progressive Leasing GMV, a growing employer channel through Purchasing Power with access to approximately 7 million eligible employees and expanding direct-to-consumer and app-driven engagement.

Select Three-year CAGR targets

PROG introduced the following consolidated three-year CAGR targets that incorporate expectations for growth across products, operating leverage from modernization initiatives, and disciplined capital deployment:

• GMV growth of 20-25%
• Revenue growth of 5-8%
• AEBITDA growth of 13-16%
• Adjusted non-GAAP EPS growth of 17-20%

The Company also provided directional segment-level expectations to illustrate pathways to the consolidated outlook.

Capital Allocation

PROG reiterated its disciplined approach to capital allocation, prioritizing:

• Investing in high-ROI growth initiatives across the platform, including modernization, data, marketing and product expansion
• Deleveraging following the Purchasing Power acquisition
• Returning excess capital to shareholders through quarterly cash dividends and opportunistic share repurchases, while maintaining a focus on deleveraging

Webcast Replay

A link to the replay of the company’s webcast is available on the company’s investor relations website and can be accessed by clicking on the link https://edge.media-server.com/mmc/p/wcbcp5xt/

Investor Day Presentation

The company’s Investor Day presentation slide deck can be accessed by clicking on the following link https://investor.progholdings.com/static-files/2c871b3c-dd50-4600-9794-e96ae7e1e3d2

About PROG Holdings, Inc.

PROG Holdings, Inc. (NYSE:PRG) is a fintech holding company headquartered in Salt Lake City, UT, that provides transparent and competitive payment options and inclusive consumer financial products. The Company owns Progressive Leasing, a leading provider of e-commerce, app-based, and in-store point-of-sale lease-to-own solutions; Four Technologies, a provider of Buy Now, Pay Later payment options through its platform Four; MoneyApp, a mobile application that offers customers interest-free cash advances: and Purchasing Power, a company that provides a voluntary employee benefit program that allows employees to purchase brand-name products and services and pay for them through either automatic payroll deductions or allotments. More information on PROG Holdings' companies can be found at https://www.progholdings.com.

Forward Looking Statements

Statements in this news release regarding PROG Holdings, Inc. that are not historical facts are "forward-looking statements" that involve risks and uncertainties which could cause actual results to differ materially from those contained in the forward-looking statements. Such forward-looking statements generally can be identified by the use of forward-looking terminology, such as “expected”, “believe”, “will”, “targets” and similar forward-looking terminology. These risks and uncertainties include, among others, the risks and uncertainties discussed under "Risk Factors" in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 18, 2026. Statements in this press release that are "forward-looking" include, without limitation, statements regarding the Company’s free cash flow, profitable growth, compound annual growth rate targets for certain financial metrics, and its capital allocation priorities. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, the Company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances after the date of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260311589729/en/

Investor Contact

John A. Baugh, CFA

VP, Investor Relations

john.baugh@progholdings.com

Source: PROG Holdings, Inc.