UPBD

Upbound Group, Inc.

Next est. report 2026-10-29 · BMO

Cycle Short '24: Stretched Consumer Earned Wage Access '26: Secured Short Term LendingRetail Shopping '25: Strip Malls

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Overview

Upbound Group, Inc. (UPBD) provides flexible lease-to-own solutions for household goods and digital financial tools to credit-constrained consumers. Acima gener

Upbound Group, Inc. (UPBD) provides flexible lease-to-own solutions for household goods and digital financial tools to credit-constrained consumers. Acima generates 55% of revenue through merchant partnerships, while Rent-A-Center contributes 40% via retail stores. Brigit's digital subscriptions account for the remaining 5%. They serve over 3.5 million individual, low-to-middle-income customers across various locations.

Search Keywords Brand Product

Acima lease-to-own
Brigit financial wellness
Rent-A-Center rentals
Brigit line of credit
Acima virtual lease card
Earned Wage Access
lease-to-own solutions
financial technology platform
subprime consumer finance
AI underwriting
digital transformation
consumer liquidity
retail installment sales

Search Keywords Event Phrases

Q2 2026 earnings
cybersecurity incident impact

Search Keywords Policy Regulatory

Earned Wage Access Consumer Protection Act
BNPL regulations

What They Do (Plain English & Analogies): Upbound Group acts like a financial bridge for people who might not have access to traditional credit, helping them get essential household items or quick cash. Imagine you need a new refrigerator but can't get a loan or credit card. Upbound allows you to 'rent-to-own' it, paying small weekly or monthly fees. If your situation changes, you can return the item without being stuck with debt. It's like a flexible subscription service for big purchases. They also offer small cash advances and financial advice through a mobile app, acting like a helpful friend who can spot you some money until your next paycheck. The company aims to provide flexible, affordable ways for consumers to get the products and financial liquidity they need.
Very Brief History: Founded in 1960 as Rent-A-Center, the company initially focused on brick-and-mortar rent-to-own retail. A significant transformation occurred in 2021 with the acquisition of Acima, expanding the business into virtual lease-to-own services integrated with third-party retailers. To reflect its evolution into a multi-brand fintech platform, the company rebranded to Upbound Group, Inc. in February 2023. In January 2025, it further diversified by acquiring Brigit, a digital financial wellness and earned wage access platform.
"Street Stereotype": Upbound is often viewed by Wall Street as a 'subprime barometer' or a 'counter-cyclical play.' Investors generally perceive it as a business that thrives when the economy is 'just bad enough' for consumers to trade down to lease-to-own, but faces significant risk if the economy turns 'too bad,' leading to high default rates. Recently, the narrative has been shifting from a 'gritty retailer' to a 'data-driven fintech' as the company leverages AI for underwriting and expands its digital-only segments.
Subsidiaries On Linked In*: Rent-A-Center — LinkedIn: rent-a-center
Acima — LinkedIn: acima
Brigit — LinkedIn: hellobrigit
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Customer Sectors & Example Clients: Upbound serves low-to-middle-income consumers (typically earning $25k-$60k) across sectors like Furniture (including mattresses), Consumer Electronics, Appliances, Jewelry, and Tires. Specific top-tier partners include Living Spaces (a top 25 furniture retailer) and Signet Jewelers (implied through jewelry segment growth). Its Acima segment is integrated into over 35,000 merchant locations, including thousands of independent small and medium-sized businesses such as local tire shops, mattress stores, and appliance centers. Wayfair is a current partner for Acima, with a checkout button now live. Brigit has also partnered with Experian to offer its earned wage access product to Experian Money Plus members.
New Customers / Segments They'Re Targeting: Upbound Group is targeting new customer segments by strengthening connections across its brands and expanding how it serves customers as their financial needs evolve. Brigit is expanding its platform beyond its direct-to-consumer routes into embedded financial infrastructure through a multiyear partnership with Experian, opening a new revenue channel. The company is also focused on cross-selling initiatives, marketing Brigit's financial wellness and liquidity solutions to existing Acima and Rent-A-Center customers.
Supply Chain And Sourcing Geographies: The company's products include furniture, mattresses, tires, consumer electronics, appliances, tools, handbags, computers, smartphones, and accessories. While specific sourcing geographies are not explicitly detailed, the company has noted that 'tariffs certainly playing into the equation' and 'cost of goods actually increasing period-over-period' suggests a reliance on international sourcing for some products. The company also operates in an inflationary expense environment.
Sales Geographies And Expansion Plans: The company currently leases household durable goods to customers in the United States, Puerto Rico, and Mexico. They operate over 2,200 retail locations across the United States and Mexico. The Amazon partnership, enabling order pickup and returns, is fully deployed in approximately 1,500 corporate-owned Rent-A-Center locations nationwide in the US. Management's current expectation is to focus on organic growth in the near term through its expanded portfolio of products and services across the enterprise, rather than expanding into new geographies.
How Key Themes May Help/Hurt: The buildout of the 'Earned Wage Access '26: Secured Short Term Lending' theme significantly helps Upbound Group, particularly its Brigit segment. The persistent need for immediate access to earned wages and short-term credit solutions, exacerbated by ongoing economic pressures, drives high adoption rates for products like Brigit's financial wellness and liquidity solutions. Brigit's continued momentum, double-digit year-over-year growth in subscriptions, and expansion into embedded financial infrastructure through partnerships like Experian directly benefit from this growing consumer demand. Advancements in AI-driven underwriting, which Upbound is actively applying across its enterprise, enhance risk management and improve credit economics, aligning with the bullish aspects of the theme. However, the theme also highlights intensifying regulatory scrutiny and potential headwinds in the short-term lending and BNPL sectors, which could impose compliance costs and limit product innovation, as evidenced by the company's existing legal accrual.

3 Main Long-Term Bull Details

Brigit's strong growth trajectory, evidenced by 37% year-over-year revenue growth and a 30% increase in paying users to 1.7 million in Q2 2026, along with its expansion into embedded financial infrastructure through partnerships like Experian, provides a significant high-growth catalyst.
Upbound's robust free cash flow generation, with $84 million in Q2 2026 (up from negative $10 million year-over-year) and an increased full-year expectation of approximately $250 million, supports disciplined deleveraging towards a long-term 2x target and provides capital flexibility for strategic investments and shareholder returns.
The company's strategic focus on strengthening connections across its brands, investing in shared AI and analytics capabilities for underwriting, customer engagement, and cross-sell initiatives, aims to increase customer lifetime value, improve operating leverage, and drive sustainable profitable growth.

3 Main Long-Term Bear Details

Persistent macroeconomic headwinds and consumer stress, including elevated costs for essentials and tighter budgets for the non-prime consumer, continue to pressure discretionary spending and demand for durable goods, necessitating cautious underwriting and impacting GMV growth, particularly in the Acima segment.
Acima's GMV was pressured by an 11% year-over-year decline in Q2 2026, attributed to a combination of deliberate underwriting tightening, a cybersecurity incident that led to elevated fraudulent contract losses of approximately $13 million, and macro headwinds, signaling ongoing challenges for top-line expansion.
The company faces ongoing competitive pressures across all its segments, with a highly competitive environment for cash advance products and other liquidity solutions, which could lead to rising customer acquisition costs and challenges in maintaining market share.

Competitors And Differentiation: The market for Upbound's services is very competitive across all its businesses, with many players offering liquidity solutions and competing for the non-prime consumer. Brigit's new line of credit product is designed to compete with 'smaller ticket BNPL offerings.' Upbound differentiates itself by operating three complementary brands (Brigit, Acima, Rent-A-Center) that offer a breadth of solutions, allowing them to manage category-specific demand and deepen customer relationships. They are investing in shared capabilities, AI, and analytics across the enterprise for better underwriting, customer communications, account management, and personalized experiences. Rent-A-Center leverages its existing physical footprint and digital capabilities, including partnerships like the one with Amazon, to enhance customer experience and introduce its financial solutions to more consumers.
Recent Performance & What The Market'S Focused On: Upbound Group delivered Q2 2026 results within its guided metrics, with consolidated revenue of $1.2 billion, up modestly year-over-year. Adjusted EBITDA declined year-over-year to $127 million, and non-GAAP diluted EPS was $1.07, down approximately 4% from the prior year. However, net cash provided by operating activities was strong at $123 million, and free cash flow was $84 million, significantly up from the prior year. Brigit demonstrated strong performance with revenue growth of 37% year-over-year. Acima's GMV declined by 11% year-over-year due to credit tightening, a cyber incident, and macro headwinds, though lease charge-offs improved to 8.8%. Rent-A-Center achieved year-over-year same-store sales growth of 1.6% for the third consecutive quarter. The company narrowed its full-year revenue range but reaffirmed adjusted EBITDA and non-GAAP diluted EPS guidance, while raising free cash flow expectations to $250 million. The market is focused on Acima's return to GMV growth in Q4, the ROI on Brigit's marketing investments, the impact of Rent-A-Center's store optimization efforts and the Amazon partnership, and the overall health of the non-prime consumer amidst persistent inflationary pressures.

Revenue Segments And Estimated Mix: Acima — Mix: ~50.3%; Source: Q2 2026 Earnings Transcript; Trend: Revenue declined approximately 2.5% year-over-year in Q2 2026
Rent-A-Center Business — Mix: ~38.8%; Source: Q2 2026 Earnings Transcript; Trend: Revenue was $466 million in Q2 2026
Brigit — Mix: ~5.9%; Source: Q2 2026 Earnings Transcript; Trend: Revenue grew 37% year-over-year in Q2 2026
Mexico & Franchising — Mix: Small remaining percentage; Source: Existing investment knowledge; Trend: n/m
Product Brands: Rent-A-Center
Acima
Brigit
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Bull / Bear Details

Upbound's strategic pivot to a diversified fintech platform is gaining traction, driven by Brigit's accelerating growth and new partnerships, coupled with disci

Thesis

Upbound's strategic pivot to a diversified fintech platform is gaining traction, driven by Brigit's accelerating growth and new partnerships, coupled with disciplined underwriting improving Acima's profitability. While macro headwinds and specific cyber incidents present challenges, strong free cash flow generation, deleveraging, and cross-brand digital initiatives position UPBD for long-term value creation. (August 29, 2026)

Bull case

Brigit continues to demonstrate strong momentum with 37% year-over-year revenue growth and a 30% increase in paying subscribers to 1.7 million. The new multiyear partnership with Experian for earned wage access significantly expands Brigit's distribution channels beyond direct-to-consumer, opening a new revenue stream and validating its embedded financial infrastructure capabilities.
Despite GMV pressure, Acima's disciplined underwriting has led to significantly improved loss performance, with lease charge-offs declining to 8.8% and full-year expectations now under 9%. This focus on portfolio quality has driven a 117 basis point increase in adjusted EBITDA margin to over 16%, demonstrating effective risk management and enhanced profitability.
Upbound generated robust free cash flow of $84 million in Q2 2026, a substantial increase from the prior year, and raised its full-year free cash flow guidance to $250 million. This strong cash generation supports continued balance sheet deleveraging, with net leverage reduced to 2.6x, and provides capital flexibility for strategic investments and shareholder returns.

Bear case

The core non-prime consumer continues to face significant pressure from elevated costs in essential categories like groceries, rent, and energy, influencing purchasing behavior and delaying discretionary spending on larger ticket items. This challenging macroeconomic backdrop necessitates cautious underwriting and impacts overall demand, particularly for Acima's durable goods.
Acima's GMV declined 11% year-over-year in Q2, impacted by deliberate underwriting tightening, macro headwinds, and unique cybersecurity incidents that led to $13 million in fraudulent contract losses. While the company expects a return to GMV growth in Q4, these factors create near-term top-line pressure and highlight operational risks.
Rent-A-Center's adjusted EBITDA declined year-over-year due to higher fixed costs and initial optimization efforts, including the closure of 69 underperforming stores. While these actions aim to improve long-term returns, the store closures and expected flat to down low single-digit revenue for the segment indicate ongoing challenges in maintaining profitability amidst an inflationary expense environment.

Bull / Bear Case

Bear Case: The core non-prime consumer faces persistent pressure from elevated costs in essential categories, impacting discretionary spending and demand for durable goods, which necessitates cautious underwriting and affects overall demand, particularly for Acima. Acima's GMV declined 11% year-over-year in Q2, attributed to deliberate underwriting tightening, macro headwinds, and unique cybersecurity incidents that resulted in $13 million in fraudulent contract losses. While a return to GMV growth is expected in Q4, these factors create near-term top-line pressure and highlight operational risks. Rent-A-Center's adjusted EBITDA declined year-over-year due to higher fixed costs and initial optimization efforts, including 69 store closures, indicating ongoing challenges in maintaining profitability amidst an inflationary expense environment. Additionally, the company faces a highly competitive environment across all segments, and current risks include a high debt level (180% net debt to equity), a 99% dividend payout ratio, and recent insider selling.
Bull Case: Upbound Group's strategic pivot to a diversified fintech platform is gaining traction, highlighted by Brigit's robust momentum with 37% year-over-year revenue growth and a 30% increase in paying subscribers. The new Experian partnership significantly expands Brigit's distribution, opening new revenue channels. Acima's disciplined underwriting has led to improved loss performance, with lease charge-offs declining to 8.8% and full-year expectations under 9%, driving a 117 basis point increase in adjusted EBITDA margin to over 16%. Furthermore, the company generated strong free cash flow of $84 million in Q2 2026, raising its full-year guidance to $250 million, which supports continued balance sheet deleveraging to 2.6x net leverage and provides capital flexibility for strategic investments and shareholder returns. Rent-A-Center also showed resilience with 1.6% same-store sales growth and the Amazon partnership driving foot traffic.
More Compelling & Why: Bull. Despite recent stock underperformance, the current P/E ratio of approximately 12-14x is significantly below its historical 3-5 year averages (30-33x), suggesting the market is overly pessimistic. The strongest argument for the bull case is the combination of strong free cash flow generation, raised full-year guidance to $250 million, and improved profitability at Acima due to disciplined underwriting. My view would flip to bear if Acima's improved loss performance reverses, or if Brigit's growth and partnerships fail to translate into substantial, sustained revenue and EBITDA contribution.

Key Factors5 rows

Key Factor	Why It Matters	What To Watch	What It Signals	Where/How To Track	Free Alt Data	Paid Alt Data
Acima GMV Return to Year-over-Year Growth in Q4 2026	A return to year-over-year GMV growth in Acima would signal the effectiveness of underwriting adjustments, recovery from cyber incidents, and potentially improving consumer demand, validating the segment's long-term growth trajectory.	Acima's reported GMV growth for Q3 and Q4 2026. Management's commentary on new merchant wins and consumer demand trends.	Bullish if Q4 2026 Acima GMV shows positive year-over-year growth, confirming the company's guidance.	Company earnings calls and releases (Q3 2026 earnings call expected around late October/early November 2026, Q4 2026 earnings call expected around February 2027), SEC filings (10-Q, 10-K).	Industry reports on durable goods spending (e.g., furniture, electronics). Retail sales data from government sources.	Consumer card data: Spending on lease-to-own categories. Placer.ai: Foot traffic to key Acima merchant partners.
Rent-A-Center Same-Store Sales (SSS) Growth & Amazon Partnership Impact	Continued positive same-store sales growth at Rent-A-Center, supported by initiatives like the Amazon partnership, indicates resilience in the legacy business, successful store optimization, and effective leveraging of the physical footprint to drive traffic and brand awareness.	Rent-A-Center's reported same-store sales growth for Q3 and Q4 2026. Commentary on foot traffic and conversion rates from the Amazon partnership.	Bullish if Rent-A-Center reports continued positive same-store sales growth in Q3 and Q4 2026, and if the Amazon partnership is cited as a significant driver of foot traffic and new customer acquisition.	Company earnings calls and releases (Q3 2026 earnings call expected around late October/early November 2026, Q4 2026 earnings call expected around February 2027), SEC filings (10-Q, 10-K).	Google Trends: "Rent-A-Center" search volume, local news on store activity.	Placer.ai: Rent-A-Center store foot traffic % change YoY.
Consolidated Free Cash Flow Exceeding $250 Million for Full Year 2026	Strong free cash flow generation supports deleveraging, reinvestment in strategic initiatives (like AI and digital capabilities), and shareholder returns, indicating robust financial health and operational efficiency.	Reported free cash flow in Q3 and Q4 2026, and the updated full-year projection.	Bullish if the company reports full-year 2026 free cash flow above the raised guidance of $250 million.	Company earnings calls and releases (Q3 2026 earnings call expected around late October/early November 2026, Q4 2026 earnings call expected around February 2027), SEC filings (10-Q, 10-K).
Brigit's Experian Partnership & Line of Credit Broader Rollout	This partnership significantly expands Brigit's distribution beyond direct-to-consumer, opening a new revenue channel and validating its embedded financial infrastructure capabilities. The broader rollout of the line of credit diversifies product offerings and enhances customer retention.	Updates on the scale and financial contribution of the Experian partnership (e.g., number of Experian Money Plus members adopting Brigit's EWA, revenue generated). Progress and timeline for the broader rollout of Brigit's line of credit.	Bullish if the Experian partnership shows material user adoption and revenue contribution in Q3/Q4 2026, or if the line of credit moves to a broader rollout with positive unit economics.	Company earnings calls and releases (Q3 2026 earnings call expected around late October/early November 2026), SEC filings (10-Q).	Google Trends: "Brigit Experian", "Brigit line of credit". News articles on Experian Money Plus features.	Sensor Tower/Apptopia: Brigit app downloads and user engagement metrics.
Acima Lease Charge-Off (LCO) Rate Stabilization Below 9%	Improved loss performance at Acima demonstrates effective risk management and underwriting discipline, directly impacting profitability and strengthening the balance sheet amidst a challenging macro environment.	Acima's reported lease charge-off rate for Q3 and Q4 2026. The company's full-year expectation is "under 9%".	Bullish if the LCO rate remains at or below 9% for the remainder of 2026.	Company earnings calls and releases (Q3 2026 earnings call expected around late October/early November 2026, Q4 2026 earnings call expected around February 2027), SEC filings (10-Q, 10-K).	Consumer credit delinquency reports from credit bureaus (general trend).	Alternative credit data providers: Subprime consumer delinquency trends.

Key Reported Metrics, Reratings Triggers & Results3 rows

This metric is vital for assessing the effectiveness of Acima's risk management and underwriting. Stabilization and improvement below 9% are critical for profit

Upcoming print · 2026-10-29

Key reported metrics
Metric	Last period	Why it matters
Acima Lease Charge-Off (LCO) Rate	-5.4%	This metric is vital for assessing the effectiveness of Acima's risk management and underwriting. Stabilization and improvement below 9% are critical for profitability amidst a challenging consumer environment.
Brigit Revenue	37%	Brigit is a high-growth segment central to Upbound's fintech transformation. Its continued strong revenue growth, especially with the new Experian partnership, signals successful product expansion and market penetration.
Acima GMV	declined 11%	Acima's GMV is a key indicator of top-line performance for the largest segment. Its return to growth in Q4, after a Q2 decline, is crucial for overall revenue trajectory and investor confidence.

Last reported · 2026-07-30

Key reported metrics			Rerating thresholds			Earnings results
Metric	Last period	Why it matters	What's needed for rerating	Rerating context	Earnings date	Actual reported	Hit target?	Notes
Adjusted EBITDA	N/A	Failure to achieve the targeted Adjusted EBITDA margin would indicate that Upbound is struggling to manage credit risk effectively and capture 'trade-down' demand. This would undermine the thesis of its transformation into a resilient fintech platform, leading to a contraction in valuation multiples and a reinforced subprime risk discount. [cite: Ticker_EarningsResults]	For a lower rerating (bearish confirmation), Upbound Group's Adjusted EBITDA margin needs to remain below the 12.0% to 12.5% target range, and specifically, fall short of the 11.2% analyst consensus. A further decline from the Q4 2025 reported margin of 10.5% would also be a strong bearish signal. [cite: Ticker_EarningsResults]	Failure to achieve the targeted Adjusted EBITDA margin would indicate that Upbound is struggling to manage credit risk effectively and capture 'trade-down' demand. This would undermine the thesis of its transformation into a resilient fintech platform, leading to a contraction in valuation multiples and a reinforced subprime risk discount. [cite: Ticker_EarningsResults]	2026-07-30	$127 million (10.58% margin, declined year-over-year)	Yes	Consolidated Adjusted EBITDA declined year-over-year to $127 million. The calculated margin of 10.58% (based on $1.2 billion revenue) was below the 12.0%-12.5% target range and the 11.2% analyst consensus, thus meeting the conditions for a bearish confirmation. However, it was a slight increase from the Q4 2025 margin of 10.5%, not a further decline. Management noted that consolidated EBITDA was impacted by timing of marketing expenses at Brigit and higher fixed costs at Rent-A-Center.
Bridget Revenue	41.5%	Brigit is positioned as a key high-growth digital segment driving Upbound's fintech transformation. If its revenue growth falls short of the company's 2026 target, it would undermine this high-growth narrative, validating concerns about product rollout delays, competitive pressures, and slower-than-expected cross-sell execution. This would lead investors to re-evaluate Brigit's contribution to Upbound's overall platform value, confirming the bearish thesis.	For a lower rerating (bearish confirmation), Brigit Revenue growth needs to fall below the company's 2026 annualized target of over 30%. The current value is 41.5%, and the company has already cited delays in new product rollouts and macro uncertainty impacting initial growth estimates for Brigit.	Brigit is positioned as a key high-growth digital segment driving Upbound's fintech transformation. If its revenue growth falls short of the company's 2026 target, it would undermine this high-growth narrative, validating concerns about product rollout delays, competitive pressures, and slower-than-expected cross-sell execution. This would lead investors to re-evaluate Brigit's contribution to Upbound's overall platform value, confirming the bearish thesis.	2026-07-30	$71 million (37% y/y growth)	No	Brigit reported strong revenue growth of 37% year-over-year, which did not fall below the 30% annualized target. Management expressed satisfaction with Brigit's performance and its EBITDA contribution, indicating a willingness to increase marketing investments if demand continues.
Consolidated Revenue	+3.7%	Negative Consolidated Revenue growth would confirm the 'stretched consumer' thesis, indicating that macro headwinds are severely impacting demand for Upbound's lease-to-own products and digital financial tools. This would undermine the narrative of Upbound's transformation into a resilient fintech platform, leading to further multiple compression and strengthening the short thesis by signaling a failure to effectively capture 'trade-down' demand and manage credit risk. [cite: Ticker_BullBearCase, Ticker_DetailedOverview, Theme 'Cycle Short '24: Stretched Consumer']	Consolidated Revenue growth to be negative year-over-year (below 0%), significantly missing the low end of the company's 2026 guidance which implies flat to 5.3% growth. [cite: 2025Q4 Earnings Call]	Negative Consolidated Revenue growth would confirm the 'stretched consumer' thesis, indicating that macro headwinds are severely impacting demand for Upbound's lease-to-own products and digital financial tools. This would undermine the narrative of Upbound's transformation into a resilient fintech platform, leading to further multiple compression and strengthening the short thesis by signaling a failure to effectively capture 'trade-down' demand and manage credit risk. [cite: Ticker_BullBearCase, Ticker_DetailedOverview, Theme 'Cycle Short '24: Stretched Consumer']	2026-07-30	$1.2 billion (up modestly year-over-year)	No	Consolidated revenue was $1.2 billion, reported as 'up modestly year-over-year,' which is not negative. This indicates that the company avoided the bearish trigger for consolidated revenue.

Key Questions

Will Brigit's Experian partnership and broader line of credit rollout significantly accelerate subscriber growth and revenue, validating its high-growth potenti

Will Brigit's Experian partnership and broader line of credit rollout significantly accelerate subscriber growth and revenue, validating its high-growth potential and cross-brand synergy, or will competitive pressures and execution challenges temper its contribution?

Question 2: Can Acima achieve its guidance of returning to year-over-year GMV growth in Q4 2026, driven by new merchant agreements and improved consumer demand, while maintaining lease charge-off rates below 9% amidst ongoing macroeconomic headwinds and the impact of prior cyber incidents?
Question 3: Will Upbound Group sustain strong free cash flow generation, exceeding its raised full-year expectation of $250 million, and continue to make progress towards its 2x net leverage target, providing capital flexibility for strategic investments and shareholder returns despite a challenging operating environment?

Earnings Transcript Summary3 rows

2026-07-30 · 2026Q2 Earnings Call

3 Things Management Is Most Focused On	Call Takeaway & Tone	Prior Quarter'S Y/Y Growth By Segment	3 Things Analysts Most Pressed On (And Mgmt Responses)	Revenue Segments
3 Things Management Is Most Focused On1. Strengthening connections across brands by investing in shared capabilities and creating a more connected customer experience to increase customer lifetime value and operating leverage. 2. Applying AI and analytics across the enterprise, starting with underwriting, customer communications, account management, and collections, to make better decisions, scale investments, and deliver personalized experiences. 3. Maintaining disciplined underwriting and risk management across all segments, particularly Acima, to protect portfolio quality, improve risk-adjusted margins, and support strong cash flow generation amidst a challenging economic backdrop.	Call Takeaway & ToneThe call conveyed a cautious yet confident tone. Management reported solid Q2 2026 results that were in line with expectations, highlighting strong cash flow generation and balance sheet deleveraging. Key takeaways included the positive momentum in Brigit (driven by subscriber growth and the Experian partnership), improved loss performance and EBITDA margins at Acima due to disciplined underwriting, and strategic optimization efforts at Rent-A-Center, including store closures and the Amazon partnership. Despite acknowledging persistent macroeconomic headwinds impacting the non-prime consumer and discretionary spending, management emphasized their focus on strategic execution, building shared capabilities, leveraging AI/analytics, and prioritizing portfolio quality and long-term value creation.	Prior Quarter'S Y/Y Growth By SegmentConsolidated: +3.7%; Brigit: more than 40%; Acima: approximately 1.8%; Rent-A-Center: down approximately 2%.	3 Things Analysts Most Pressed On (And Mgmt Responses)1. Brigit marketing investments and ROI/payback period: Analysts questioned the ROI of Brigit's marketing investments, which weighed on EBITDA. Management responded that they are very pleased with Brigit's performance (37% revenue growth, 30% subscriber growth) and that the EBITDA contribution was at the high end of expectations, viewing it as a positive lifetime value (LTV) spend. They indicated a willingness to lean into further marketing investments if demand continues. 2. Q4 EBITDA inflection point and its drivers: Analysts inquired about the implied inflection back to EBITDA growth in Q4. Management explained this is driven by seasonality, easier comparisons due to prior underwriting tightening, anticipated margin expansion from improved loss performance, and effective OpEx management, with potential for additional Brigit marketing investments. 3. Macro risks and potential for further underwriting tightening: Analysts asked about the potential risks from continued macro headwinds (e.g., elevated gas prices, inflation) and the need for more underwriting tightening. Management stated that their current outlook already incorporates a conservative underwriting posture for a tough environment, and they feel confident about the portfolio's health, emphasizing that they are prioritizing margin over chasing volume.	Revenue SegmentsBrigit: 37% year-over-year growth; Acima: approximately 2.5% year-over-year decline; Rent-A-Center: Not explicitly stated in the transcript; Consolidated: Up modestly year-over-year.

2026-02-19 · 2025Q4 Earnings Call

3 Things Management Is Most Focused On	Call Takeaway & Tone	Prior Quarter'S Y/Y Growth By Segment	3 Things Analysts Most Pressed On (And Mgmt Responses)	Revenue Segments
3 Things Management Is Most Focused On1. Digital & AI Transformation: Scaling the 'leasability engine' and direct-to-consumer marketplace to drive repeat business and reduce reliance on merchant integrations. 2. Brigit Product Expansion: Rolling out the $500 line of credit pilot and leveraging Brigit's cash-flow underwriting data to improve risk assessment across all segments. 3. Operational Efficiency & Deleveraging: Managing costs and utilizing a $150M tax windfall to reduce net leverage toward a 2.0x long-term target while resolving legacy legal settlements ($72M accrual).	Call Takeaway & ToneUpbound is successfully stabilizing its legacy Rent-A-Center business (achieving its first positive same-store sales growth in years) and pivoting Acima toward a 'risk-first' model to protect margins. Brigit remains a high-growth engine despite minor product delays, and the company's strong cash position provides a significant buffer against a 'stressed' subprime consumer. The tone was disciplined and resilient, with management focused on long-term transformation over short-term volume.	Prior Quarter'S Y/Y Growth By SegmentConsolidated: +9.0%; Acima: +10.4%; Brigit: +40.0%; Rent-A-Center: -4.7%	3 Things Analysts Most Pressed On (And Mgmt Responses)1. 2026 Guidance Seasonality: Analysts questioned why Q1 EPS growth is projected at 10% while the full year is only 1%. Management responded that Q1 benefits from a full quarter of Brigit (vs. partial last year) and strong portfolio momentum, but they remain conservative for H2 due to macro uncertainty. 2. Brigit Performance Targets: Analysts asked about the trimmed 2026 revenue outlook for Brigit. Management cited delays in product rollouts caused by bank partner caution and a decision to prioritize profitable growth over aggressive marketing in a stressed macro environment. 3. Acima GMV vs. Credit Quality: Analysts pressed on the GMV slowdown (flat in Q1). Management explained this is an intentional result of tightening underwriting to flush out 2025 vintages and stabilize losses at 9.5%, though some softness in demand (especially furniture) also contributed.	Revenue SegmentsConsolidated: +10.9%; Acima: +8.6%; Brigit: +41.5%; Rent-A-Center: 0.0%

2025-10-30 · 2025Q3 Earnings Call

3 Things Management Is Most Focused On	Call Takeaway & Tone	Prior Quarter'S Y/Y Growth By Segment	3 Things Analysts Most Pressed On (And Mgmt Responses)	Revenue Segments
3 Things Management Is Most Focused On1. Underwriting Discipline at Acima: Management is aggressively tightening risk parameters in response to 'softness' in Q2 vintages and a choppy macro environment to keep loss rates within the 9.5% target range. 2. Executive Leadership & Digital Transformation: The appointment of a new CFO (Hal Khouri) and Chief Growth Officer (Rebecca Wooters) to drive AI-powered innovation and digital omnichannel scaling. 3. Rent-A-Center Recovery: Improving same-store sales (which improved 40bps sequentially) with the goal of reaching flat-to-positive comps in Q4 through better inventory and loyalty initiatives.	Call Takeaway & ToneTakeaway: Upbound is pivoting to a defensive 'risk-first' posture at Acima to protect the balance sheet from a weakening macro backdrop, while simultaneously seeing a stabilization in the legacy Rent-A-Center business. Brigit remains a high-growth bright spot. Tone: Cautious and disciplined; management is prioritizing portfolio health over top-line acceleration in the near term.	Prior Quarter'S Y/Y Growth By SegmentIn 2025Q2, Y/Y growth was: Consolidated: +12.4%; Acima: +16.4%; Brigit: +42.0%; Rent-A-Center: -2.3%. (Note: Growth decelerated across all major segments in Q3 compared to Q2).	3 Things Analysts Most Pressed On (And Mgmt Responses)1. Acima Credit Performance: Analysts questioned the 50bps uptick in lease charge-offs and lower margins. Management responded that they implemented 'drastic' tightening in June/July and that August/September vintages are already performing within acceptable yield ranges. 2. GMV Growth Outlook: Analysts asked if tightening would suppress growth. Management guided to mid-single-digit GMV growth for Q4 (a deceleration) but maintained confidence in high single-digit growth for 2026 through new merchant additions. 3. Consumer Health: Analysts pressed on the 'stressed consumer' narrative. Management noted that while inflation and slowing job growth pressure payments, it also creates 'trade-down' opportunities for their lease-to-own products.	Revenue SegmentsConsolidated: +9.0% ($1.16B); Acima: +10.4%; Brigit: +40.0%; Rent-A-Center: -4.7% (impacted by store divestitures to a franchisee).

Transcript Tidbits4 rows

2026-07-30

About Expanding Eligible Market	About Competition	About The Broader Industry	Where Things Are Headed	Updates On Theme	Broader Themes Emerging	Bullish-Leaning Quotes (Short)	Bearish-Leaning Quotes (Short)
About Expanding Eligible MarketBrigit's line of credit pilot continues to progress towards a broader rollout. Brigit entered into a multiyear partnership with Experian to offer its earned wage access product to Experian Money Plus members, representing an expansion beyond direct-to-consumer routes into embedded financial infrastructure. Acima is encouraged by new merchant agreements in the pipeline and further integration with current partners, including the checkout button at Wayfair now live. Rent-A-Center's Amazon partnership for order pickup and returns is now fully deployed in approximately 1,500 locations nationwide, driving improved foot traffic and expanding brand awareness. The company is also focusing on cross-sell initiatives across its brands, leveraging Brigit's cash flow insights as a customer hub to improve personalization and increase lifetime value per customer.	About CompetitionThe cash advance market is described as a very competitive environment, with many companies offering liquidity solutions for consumers. Management noted that everyone has their version of liquidity solutions, which substantiates their thesis about demand for these products, especially on the non-prime side. The competitive environment has not significantly changed over the last 12 to 18 months, but has become more heightened as liquidity and credit become tighter. The company is pleased with its market share across all businesses, including Brigit's growth rates and Rent-A-Center's same-store sales growth.	About The Broader IndustryThe broader economic backdrop remains challenging, with the core consumer being resilient but managing a tighter budget. The non-prime consumer continues to face pressure from elevated costs in essential categories such as groceries, rent, utilities, and energy, which influences purchasing behavior and delays discretionary spending, particularly for larger ticket items like furniture and appliances. The furniture industry, in particular, is under macro pressure. The company is operating in an inflationary expense environment.	Where Things Are HeadedUpbound Group expects Acima GMV to be flat to negative low single digits for the year, returning to growth in the fourth quarter. The company initiated a Rent-A-Center-wide optimization effort, leading to 69 underperforming store closures in Q2, with continued evaluation of the footprint. Consolidated full-year revenue guidance was narrowed to $4.7 billion to $4.85 billion, while adjusted EBITDA ($500 million to $535 million) and non-GAAP diluted EPS ($4 to $4.35) ranges were reaffirmed. Free cash flow expectations were raised from $200 million to $250 million. Acima's loss rates are now trending lower than original expectations, stabilizing under 9% for the year, and its adjusted EBITDA margin is expected to finish the year up relative to 2025. Brigit's outlook remains unchanged, with annualized revenue growth over 30% ($265 million to $285 million) and adjusted EBITDA in the $50 million to $60 million range. Rent-A-Center segment revenue is expected to be flat to down low single digits for the year, with adjusted EBITDA margin relatively flat to 2025. The company aims for a net leverage ratio in the 2x range over the long term. For Q3 2026, consolidated revenue is projected at $1.05 billion to $1.15 billion, adjusted EBITDA at $105 million to $115 million, and non-GAAP diluted EPS at $0.85 to $0.95. Q3 loss rates are expected to improve at Acima and increase at Rent-A-Center to the mid-5% range, with Q3 GMV growth down low to mid-single digits year-over-year, improving sequentially and returning to growth in Q4.	Updates On ThemeSecured	Broader Themes EmergingAI and analytics are being applied across the enterprise, including underwriting, customer communications, account management, collections, discovery, search, and marketing content, with a focus on generative and Agentic AI. The company is investing in conversational commerce and in-contact servicing to enhance customer interactions. There is a commitment to enterprise-wide personalization and seamless cross-brand engagement to foster deeper cross-sell, upsell, and loyalty. Leveraging existing physical footprints for new partnerships, such as the Amazon partnership with Rent-A-Center, is also an emerging strategy.	Bullish-Leaning Quotes (Short)“Our second quarter results reflect the continuation of many positive trends we identified last quarter”. “Brigit, which saw continued momentum underpinned by another quarter of double-digit year-over-year growth in subscriptions with revenue growth of 37% year-over-year”. “This partnership represents an expansion of the Brigit platform beyond its direct-to-consumer routes and into embedded financial infrastructure, opening a new revenue channel for the business.” “EBITDA margin increased 117 basis points to over 16% in the quarter.” “We achieved year-over-year same-store sales growth for the third consecutive quarter, growing 1.6% versus last year.” “While still early, the partnership is driving improved foot traffic and expanding brand awareness.” “Net cash provided by operating activities was $123 million, up $97 million year-over-year, and free cash flow was $84 million, up from negative $10 million in the prior year quarter.” “We are raising our free cash flow expectations for the year from $200 million to $250 million”.	Bearish-Leaning Quotes (Short)“cybersecurity incidents cited in our recent 8-K... leading to elevated fraudulent lease-to-own agreements, leading to elevated fraudulent contract losses of approximately $13 million in the Acima segment”. “Cumulatively, the aforementioned incidents, a continued tightening in our underwriting posture and macro headwinds... pressured our overall GMV in our Acima segment by 11% in the second quarter.” “Looking ahead, our expectations for Acima GMV are flat to negative low single digits on the year”. “credit tightening and the cyber incident did weigh on GMV, which finished the quarter lower year-over-year and below our expectations”. “Adjusted EBITDA declined year-over-year to $127 million due in part to timing of marketing expenses at Brigit and higher fixed costs at Rent-A-Center.” “The non-prime consumer remains resilient, but continues to face pressure from elevated costs in essential categories such as groceries, rent, utilities and energy”. “discretionary spending, especially for larger ticket durable goods is under pressure.”

2026-02-19

About Expanding Eligible Market	About Competition	About The Broader Industry	Where Things Are Headed	Updates On Theme	Broader Themes Emerging	Bullish-Leaning Quotes (Short)	Bearish-Leaning Quotes (Short)	Hiring
About Expanding Eligible MarketAcima's direct-to-consumer marketplace experienced substantial growth, with GMV increasing more than 100% year-over-year in 2025 and now accounting for nearly 10% of Acima's total GMV. The company is leveraging its 'virtual lease card' to allow customers to shop at virtually any durable goods retailer, including those without integrated lease-to-own solutions. Additionally, Bridget is piloting a new line of credit offering of up to $500 to bridge the gap between small-ticket BNPL and larger lease-to-own transactions.	About CompetitionManagement acknowledged that competitors are launching similar cash-advance and liquidity products, noting it is 'not surprising' given the high demand. Bridget's new line of credit is specifically designed to compete with 'smaller ticket BNPL offerings.' The company aims to differentiate itself through a 'bundle' of financial wellness tools and tiered pricing to maintain customer retention in a 'changing competitive landscape.'	About The Broader IndustryThe furniture industry, the company's largest category, remains under significant pressure and was 'flat to slightly down' throughout the year. The fintech sector is facing an 'extended timeline' for new product launches due to a 'domino effect' of uncertainty among bank partners following high-profile bank failures. Additionally, the industry is navigating rising costs of goods and potential margin impacts from tariffs.	Where Things Are HeadedFor 2026, Upbound expects consolidated revenue between $4.7 billion and $4.95 billion, with Adjusted EBITDA of $500 million to $535 million. Free cash flow is projected to increase to approximately $200 million, supported by a $100 million benefit from the 'One Big Beautiful Bill Act.' Acima's loss rates are expected to stabilize around 9.5%, while Bridget is targeted to deliver revenue growth of over 30%.	Updates On ThemeStretched	Broader Themes EmergingAI-powered 'leasability engines' are becoming central to real-time transaction approvals in e-commerce; legislative tax changes (bonus depreciation) are providing significant one-time corporate liquidity boosts; and a shift toward 'decoupling' consumer financing from specific merchant integrations via virtual cards.	Bullish-Leaning Quotes (Short)"Highest full-year revenue on record for Upbound."; "Same-store sales increased 80 basis points... first positive quarter since 2024."; "Free cash flow of $180 million, increasing over $130 million year over year."; "Acima's marketplace... GMV growing more than 100% year over year."	Bearish-Leaning Quotes (Short)"Acima's loss rate... was up 110 basis points year over year."; "Furniture... is still very much under pressure."; "Figures are trailing our initial estimates from the 2024 acquisition."; "Estimated legal accrual on the balance sheet was $72 million."	HiringThe company recently hired a new CFO (Hal Khouri) and a Chief Growth Officer (Rebecca Wooters). Management is focused on 'enhancing coworker efficiency across store operations' and maintains an 'exceptional sales force' to onboard new retailers.

2026-02-19

About Expanding Eligible Market	About Competition	About The Broader Industry	Where Things Are Headed	Updates On Theme	Broader Themes Emerging	Bullish-Leaning Quotes (Short)	Bearish-Leaning Quotes (Short)	Hiring
About Expanding Eligible MarketAcima's direct-to-consumer marketplace experienced substantial growth, with GMV increasing more than 100% year-over-year in 2025 and now accounting for nearly 10% of Acima's total GMV. The company is leveraging its 'virtual lease card' to allow customers to shop at virtually any durable goods retailer, including those without integrated lease-to-own solutions. Additionally, Brigit is piloting a new line of credit offering of up to $500 to bridge the gap between small-ticket BNPL and larger lease-to-own transactions, with a broader rollout planned for 2026. Rent-A-Center developed new tools to improve the approval process for certain online applicants, inviting them to visit their nearest store to complete the process in person. Brigit launched cross-selling initiatives, marketing its product to Acima and Rent-A-Center customers through targeted e-mail campaigns and in-store promotional material.	About CompetitionManagement acknowledged that competitors are launching similar cash-advance and liquidity products, noting it is 'not surprised' given the high demand. Brigit's new line of credit is specifically designed to compete with 'smaller ticket BNPL offerings.' The company aims to differentiate itself through a 'bundle' of financial wellness tools and tiered pricing to maintain customer retention in a 'changing competitive landscape.'	About The Broader IndustryThe core consumer continues to navigate a challenging environment, including the cumulative effects of inflation and elevated prices for essentials like groceries, rent, and utilities, which weigh on their purchasing power as wages have not kept pace with their cost of living. The furniture industry, the company's largest product category, remains under significant pressure and was 'flat to slightly down' throughout the year. The fintech sector is facing an 'extended timeline' for new product launches due to a 'domino effect' of uncertainty among bank partners following high-profile bank failures. The industry is also navigating rising costs of goods and potential margin impacts from tariffs. The tax season is noted as a seasonal and macro factor.	Where Things Are HeadedFor 2026, Upbound expects consolidated revenue between $4.7 billion and $4.95 billion, and adjusted EBITDA between $500 million and $535 million. Fully diluted non-GAAP earnings per share are projected to be $4 to $4.35. Free cash flow is expected to increase to approximately $200 million in 2026, supported by a $100 million benefit from the 'One Big Beautiful Bill Act.' Acima's loss rates are expected to stabilize around 9.5% for the year. Brigit is targeted to deliver annualized revenue growth of over 30% in the $265 million to $285 million range and adjusted EBITDA in the $50 million to $60 million range. Rent-A-Center's full year 2026 revenue is expected to be flat to positive relative to 2025, with adjusted EBITDA margins in line with 2025. The company is targeting a net leverage ratio in the 2x range over the long term, with additional progress expected throughout 2026. There are currently no near-term plans for M&A. Corporate costs are expected to be roughly flat to 2025 as a percentage of revenue at approximately 4%, and the tax rate is expected to be slightly higher than 2025 in the 26% range. The company expects a payment outflow of $72 million in nonordinary course legal and regulatory settlements. Upbound will continue investing in its people, data, and technology, including advanced analytics and AI capabilities.	Updates On ThemeSecured	Broader Themes EmergingAI-powered 'leasability engines' are becoming central to real-time transaction approvals in e-commerce. Legislative tax changes (bonus depreciation) are providing significant one-time corporate liquidity boosts. There is a shift toward 'decoupling' consumer financing from specific merchant integrations via virtual cards.	Bullish-Leaning Quotes (Short)Highest full-year revenue on record for Upbound. Same-store sales increased 80 basis points... first positive quarter since 2024. Free cash flow of $180 million, increasing over $130 million year over year. Acima's marketplace... GMV growing more than 100% year over year.	Bearish-Leaning Quotes (Short)Acima's loss rate... was up 110 basis points year over year. Furniture... is still very much under pressure. Figures are trailing our initial estimates from the 2024 acquisition. Estimated legal accrual on the balance sheet was $72 million.	HiringUpbound welcomed two accomplished executives to its leadership team in 2025: Hal Khouri as Chief Financial Officer and Rebecca Wooters as Chief Growth Officer, a newly created role. Management believes adding these experienced leaders to the strong management team positions Upbound for long-term value creation. The company will continue investing in its people and is driving targeted efficiency and cost initiatives, including enhancing coworker efficiency across store operations and customer service.

2025-10-30

About Expanding Eligible Market	About Competition	About The Broader Industry	Where Things Are Headed	Updates On Theme	Broader Themes Emerging	Bullish-Leaning Quotes (Short)	Bearish-Leaning Quotes (Short)
About Expanding Eligible MarketAcima reached a milestone of 100,000 merchant locations and added Living Spaces, a top 25 furniture retailer. The launch of 'in-store tap to lease' allows customers to use virtual lease cards at any store for approved durable goods without requiring retailer-side integration. Brigit is expanding its market by testing a $500 line of credit to bridge the gap between BNPL and traditional lease-to-own solutions.	About CompetitionThe company is positioning Brigit's new line of credit to compete directly with 'smaller ticket BNPL offerings.' Acima is intentionally diversifying into the jewelry vertical to offset furniture category softness and is leveraging its direct-to-consumer marketplace (up 150% YoY) to reduce reliance on traditional retailer integrations where competitors are active.	About The Broader IndustryThe furniture industry continues to struggle with a pandemic-era demand pull-forward, with normalization not expected until the back half of 2026. The broader industry is facing headwinds from slowing job growth and potential tariff-related price adjustments, which are impacting inventory costs and consumer confidence.	Where Things Are HeadedRent-A-Center is projected to reach flat to positive same-store sales in Q4 2025. Acima is targeting a return to high single-digit to low double-digit GMV growth in 2026 with loss rates stabilizing between 9% and 9.5%. The company expects $150 million in cash tax savings through 2026 due to bonus depreciation, which will be used for deleveraging and growth investments.	Updates On ThemeStretched	Broader Themes EmergingAI-powered leasability engines; decoupling of consumer financing from merchant-specific integrations via virtual cards; impact of legislative tax changes (bonus depreciation) on corporate liquidity.	Bullish-Leaning Quotes (Short)"Rent-A-Center... same-store sales growth should approach flat to positive in the fourth quarter."; "Brigit continues to move fast while building for scale... revenue growth of 40%."; "Upbound's near-term liquidity should be supplemented by about $150 million in savings from cash tax payments."	Bearish-Leaning Quotes (Short)"Recent monthly vintage yields at Acima have been under pressure, resulting in slightly higher losses."; "Cumulative effect of inflation... is pressuring our consumers' collective confidence."; "Job growth is slowing."

Notes2 rows

Date	Comment	Comment Type	Comment Sentiment	Link	Price Reaction
2026-02-19	Upbound Group reported record 2025 revenue and strong free cash flow, with Rent-A-Center achieving positive same-store sales. Acima's GMV growth slowed due to credit tightening, while Brigit's 2026 revenue guidance was trimmed due to product delays and macro caution. The market reacted positively, with UPBD outperforming SPY by 2.92% post-earnings, signaling confidence in its digital fintech pivot and operational resilience despite a stressed consumer.	Earnings Transcript	Neutral		+2.61% (vs SPY: +2.92%)
2026-07-30	Upbound Group's Q2 2026 earnings saw the stock fall 7.45% despite an EPS beat and raised free cash flow guidance. The market likely focused on the 11% Acima GMV decline, impacted by a $13M cyber fraud loss and macro headwinds, overshadowing Brigit's strong growth and improved Acima margins. The cautious outlook and refined revenue guidance contributed to the sell-off.	Earnings Transcript	Negative		-7.45% (vs SPY: -11.32%)

Upcoming Events7 rows

Catalyst ID	Estimated Timing	Estimated Date Start	Estimated Date End	Catalyst	Why It Matters	Ticker Or Theme Specific	Transcript Date	Source Type
UPBD_039a6a0e	broader rollout in 2026	2026-04-01	2026-12-31	Broader rollout of Brigit's line of credit offering	This product provides up to $500 of liquidity and bridges the gap between BNPL and lease-to-own; successful scaling is a key driver for Brigit's 2026 revenue growth and subscriber engagement.	Ticker	2026-02-19
UPBD_f1db2d47	in pilot phases there	2026-04-01	2026-12-31	Expansion of the Acima virtual lease card program	The virtual card allows customers to shop at retailers without integrated lease-to-own solutions, potentially driving significant GMV growth and increasing customer lifetime value through the direct-to-consumer channel.	Ticker	2026-02-19
UPBD_c496374d	second half of the year	2026-07-01	2026-12-31	Acima GMV growth re-acceleration to low double-digits	Management expects to lap underwriting tightening and return to historical growth levels; failure to re-accelerate would suggest persistent consumer weakness or that credit tightening is overly restrictive.	Ticker	2026-02-19
UPBD_03dcdeb6	by the end of the year	2026-10-01	2026-12-31	Commencement of data and system integration plans for Brigit	Integrating Brigit's cash flow underwriting and technology into Rent-A-Center and Acima is expected to be a major catalyst for 2027 growth and improved risk management across the enterprise.	Ticker	2026-02-19
UPBD_bd5cbb1d	late 2026	2026-10-01	2026-12-31	Normalization of the furniture industry demand	Furniture is the largest product category for both Acima and Rent-A-Center; a recovery in this sector would provide a meaningful tailwind to top-line revenue and GMV after a period of post-pandemic pressure.	Industry/Macro	2026-02-19
UPBD_a71f904c	planning a broader rollout in 2026, pointed to the second half of the year	2026-07-01	2026-12-31	Broader rollout of Brigit's line of credit offering, which was in pilot phase in late 2025.	This product is expected to drive subscriber growth and revenue for Brigit, a high-growth segment. Delays could temper near-term revenue growth and subscriber ramp, while a successful rollout could validate its high-growth valuation.	Ticker	2026-02-19	earnings_transcript
UPBD_186f577b	second half of the year, sometime in the third quarter and then obviously, in the fourth quarter, return back to the low double-digit growth in the second half of the year	2026-07-01	2026-12-31	Re-acceleration of Acima's GMV growth to low double-digits in the second half of 2026, following the lapping of underwriting changes.	This indicates the effectiveness of strategic adjustments and demand recovery, impacting revenue growth and investor confidence in Acima's long-term potential.	Ticker	2026-02-19	earnings_transcript

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