0000876523-24-000007 | 10-Q | XBRL Viewer

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Contingencies	3 Months Ended
Contingencies	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies	NOTE 9: CONTINGENCIES Currently, and from time to time, we are involved in various claims, disputes, lawsuits, investigations, and legal and regulatory proceedings. We accrue for contingencies if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Because these matters are inherently unpredictable and unfavorable developments or resolutions can occur, assessing contingencies requires judgments and is highly subjective about future events, and the amount of resulting loss may differ from these estimates. We do not believe the resolution of any particular matter will have a material adverse effect on our financial condition, results of operations or liquidity.

Debt - Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended
Debt - Interest Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Net loss on extinguishment of debt	$ 0	$ 3,545
Senior Notes \| 2029 Convertible Notes
Debt Instrument [Line Items]
Contractual interest expense	2,156	431
Amortization of deferred financing costs	244	52
Total interest expense	2,400	483
Senior Notes \| 2025 Convertible Notes
Debt Instrument [Line Items]
Contractual interest expense	614	942
Amortization of deferred financing costs	131	188
Net loss on extinguishment of debt	0	(5,389)
Total interest expense	745	(4,259)
Senior Notes \| 2024 Convertible Notes
Debt Instrument [Line Items]
Contractual interest expense	247	876
Amortization of deferred financing costs	42	138
Net loss on extinguishment of debt	0	8,935
Total interest expense	$ 289	$ 9,949

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Fair Value Measurements - Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Apr. 30, 2019	Mar. 31, 2019
Promissory note receivable due April 2024
Financial assets:
Notes receivable, fair value				$ 1,100	$ 1,100
Promissory note receivable due April 2024 \| Carrying Value
Financial assets:
Notes receivable, fair value	$ 1,259	$ 1,251	$ 1,224
Promissory note receivable due April 2024 \| Estimated Fair Value
Financial assets:
Notes receivable, fair value	1,259	1,251	1,224
Promissory note receivable due April 2024 \| Estimated Fair Value \| Level 1
Financial assets:
Notes receivable, fair value	0	0	0
Promissory note receivable due April 2024 \| Estimated Fair Value \| Level 2
Financial assets:
Notes receivable, fair value	0	0	0
Promissory note receivable due April 2024 \| Estimated Fair Value \| Level 3
Financial assets:
Notes receivable, fair value	1,259	1,251	1,224
Promissory note receivable from Founders
Financial assets:
Notes receivable, fair value			15,000
Promissory note receivable from Founders \| Carrying Value
Financial assets:
Notes receivable, fair value	17,073	16,500	15,100
Promissory note receivable from Founders \| Estimated Fair Value
Financial assets:
Notes receivable, fair value	17,073	16,500	15,100
Promissory note receivable from Founders \| Estimated Fair Value \| Level 1
Financial assets:
Notes receivable, fair value	0	0	0
Promissory note receivable from Founders \| Estimated Fair Value \| Level 2
Financial assets:
Notes receivable, fair value	0	0	0
Promissory note receivable from Founders \| Estimated Fair Value \| Level 3
Financial assets:
Notes receivable, fair value	17,073	16,500	15,100
Investments in unconsolidated affiliates \| Carrying Value
Financial assets:
Investments in unconsolidated affiliates	10,125	10,987	37,789
Investments in unconsolidated affiliates \| Estimated Fair Value
Financial assets:
Investments in unconsolidated affiliates	39,528	35,998	43,497
Investments in unconsolidated affiliates \| Estimated Fair Value \| Level 1
Financial assets:
Investments in unconsolidated affiliates	39,528	35,998	43,497
Investments in unconsolidated affiliates \| Estimated Fair Value \| Level 2
Financial assets:
Investments in unconsolidated affiliates	0	0	0
Investments in unconsolidated affiliates \| Estimated Fair Value \| Level 3
Financial assets:
Investments in unconsolidated affiliates	0	0	0
2024 Convertible Notes \| Carrying Value
Financial liabilities:
Debt instruments, fair value	34,307	34,265	34,143
2024 Convertible Notes \| Estimated Fair Value
Financial liabilities:
Debt instruments, fair value	34,733	35,765	35,851
2024 Convertible Notes \| Estimated Fair Value \| Level 1
Financial liabilities:
Debt instruments, fair value	0	0	0
2024 Convertible Notes \| Estimated Fair Value \| Level 2
Financial liabilities:
Debt instruments, fair value	34,733	35,765	35,851
2024 Convertible Notes \| Estimated Fair Value \| Level 3
Financial liabilities:
Debt instruments, fair value	0	0	0
2025 Convertible Notes \| Carrying Value
Financial liabilities:
Debt instruments, fair value	102,695	102,563	102,192
2025 Convertible Notes \| Estimated Fair Value
Financial liabilities:
Debt instruments, fair value	94,173	96,137	89,883
2025 Convertible Notes \| Estimated Fair Value \| Level 1
Financial liabilities:
Debt instruments, fair value	0	0	0
2025 Convertible Notes \| Estimated Fair Value \| Level 2
Financial liabilities:
Debt instruments, fair value	94,173	96,137	89,883
2025 Convertible Notes \| Estimated Fair Value \| Level 3
Financial liabilities:
Debt instruments, fair value	0	0	0
2029 Convertible Notes \| Carrying Value
Financial liabilities:
Debt instruments, fair value	223,528	223,284	222,649
2029 Convertible Notes \| Estimated Fair Value
Financial liabilities:
Debt instruments, fair value	236,900	224,112	225,975
2029 Convertible Notes \| Estimated Fair Value \| Level 1
Financial liabilities:
Debt instruments, fair value	0	0	0
2029 Convertible Notes \| Estimated Fair Value \| Level 2
Financial liabilities:
Debt instruments, fair value	236,900	224,112	225,975
2029 Convertible Notes \| Estimated Fair Value \| Level 3
Financial liabilities:
Debt instruments, fair value	$ 0	$ 0	$ 0

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Pablo Lagos Espinosa [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On November 29, 2023, Pablo Lagos Espinosa, Director, as sole beneficial owner of Lakeside Growth Enterprises, LP, entered into a prearranged trading plan to sell up to 20,000 shares of the Company’s Class A Non-Voting Common Stock between March 4, 2024 and February 28, 2025 pursuant to the terms of the plan. The plan is designed to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act and comply with the Company’s policies regarding stock transactions.
Name	Pablo Lagos Espinosa
Title	Director
Adoption Date	November 29, 2023
Arrangement Duration	361 days
Aggregate Available	20,000

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Common Stock Class A Non-voting
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000	100,000,000
Common stock, shares issued (in shares)	52,272,594	51,869,569	52,877,930
Common stock, shares outstanding (in shares)	52,272,594	51,869,569	52,877,930
Common Stock Class B Voting
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	3,000,000	3,000,000	3,000,000
Common stock, shares issued (in shares)	2,970,171	2,970,171	2,970,171
Common stock, shares outstanding (in shares)	2,970,171	2,970,171	2,970,171

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenues:
Total revenues	$ 299,991	$ 264,327
Gross profit	172,573	152,497
Operating expenses:
Store expenses	110,555	100,803
General and administrative	16,543	15,476
Depreciation and amortization	8,565	7,988
Gain on sale or disposal of assets and other	(172)	(16)
Total operating expenses	135,491	124,251
Operating income	37,082	28,246
Interest expense	3,440	6,190
Interest income	(2,639)	(664)
Equity in net income of unconsolidated affiliates	(1,153)	(1,584)
Other income	(271)	(234)
Income before income taxes	37,705	24,538
Income tax expense	9,235	7,760
Net income	$ 28,470	$ 16,778
Basic earnings per share (in dollars per share)	$ 0.52	$ 0.30
Diluted earnings per share (in dollars per share)	$ 0.36	$ 0.25
Weighted-average basic shares outstanding (in shares)	55,076	56,308
Weighted-average diluted shares outstanding (in shares)	86,812	83,779
Merchandise sales
Revenues:
Total revenues	$ 179,403	$ 163,787
Cost of revenues	115,210	104,877
Jewelry scrapping sales
Revenues:
Total revenues	14,082	7,884
Cost of revenues	12,208	6,953
Pawn service charges
Revenues:
Total revenues	106,449	92,593
Other revenues
Revenues:
Total revenues	$ 57	$ 63

Fair Value Measurements

3 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

NOTE 6: FAIR VALUE MEASUREMENTS

The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy prioritizes the quality and reliability of the information used to determine fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is defined into the following three categories:

•Level 1 — Quoted market prices in active markets for identical assets or liabilities.

•Level 2 — Other observable market-based inputs or unobservable inputs that are corroborated by market data.

•Level 3 — Unobservable inputs that are not corroborated by market data.

We have elected not to measure at fair value any eligible items for which fair value measurement is optional.

There were no transfers in or out of Level 1, Level 2 or Level 3 for financial assets or liabilities measured at fair value on a recurring basis during the periods presented.

Financial Assets and Liabilities Not Measured at Fair Value

The tables below present our estimates of fair value of financial assets and liabilities that were not measured at fair value:


	Carrying Value		Estimated Fair Value
	December 31, 2023		December 31, 2023		Fair Value Measurement Using
(in thousands)					Level 1		Level 2		Level 3

Financial assets:
Promissory note receivable due April 2024	$	1,259	$	1,259	$	—	$	—	$	1,259
Promissory note receivable from Founders	17,073		17,073		—		—		17,073

Investments in unconsolidated affiliates	10,125		39,528		39,528		—		—
Financial liabilities:
2024 Convertible Notes	$	34,307	$	34,733	$	—	$	34,733	$	—
2025 Convertible Notes	102,695		94,173		—		94,173		—
2029 Convertible Notes	223,528		236,900		—		236,900		—


	Carrying Value		Estimated Fair Value
	December 31, 2022		December 31, 2022		Fair Value Measurement Using
(in thousands)					Level 1		Level 2		Level 3

Financial assets:
Promissory note receivable due April 2024	$	1,224	$	1,224	$	—	$	—	$	1,224
Promissory note receivable from Founders	15,100		15,100		—		—		15,100

Investments in unconsolidated affiliates	37,789		43,497		43,497		—		—
Financial liabilities:
2024 Convertible Notes	$	34,143	$	35,851	$	—	$	35,851	$	—
2025 Convertible Notes	102,192		89,883		—		89,883		—
2029 Convertible Notes	222,649		225,975		—		225,975		—


	Carrying Value		Estimated Fair Value
	September 30, 2023		September 30, 2023		Fair Value Measurement Using
(in thousands)					Level 1		Level 2		Level 3

Financial assets:
Promissory note receivable due April 2024	$	1,251	$	1,251	$	—	$	—	$	1,251
Promissory note receivable from Founders	16,500		16,500		—		—		16,500
Investments in unconsolidated affiliates	10,987		35,998		35,998		—		—

Financial liabilities:
2024 Convertible Notes	$	34,265	$	35,765	$	—	$	35,765	$	—
2025 Convertible Notes	102,563		96,137		—		96,137		—
2029 Convertible Notes	223,284		224,112		—		224,112		—

Based primarily on the short-term nature of cash and cash equivalents, pawn loans, pawn service charges receivable and other liabilities, we estimate that their carrying value approximates fair value. We consider our cash and cash equivalents, including money market accounts, to be measured using Level 1 inputs and our pawn loans, pawn service charges receivable and other liabilities to be measured using Level 3 inputs. Significant increases or decreases in the underlying assumptions used to value pawn loans, pawn service charges receivable, fees and interest receivable and other debt could significantly increase or decrease these fair value estimates.

In March 2019, we received $1.1 million in previously escrowed seller funds as a result of settling certain indemnification claims with the seller of GPMX. In April 2019, we loaned the $1.1 million back to the seller of GPMX in exchange for a promissory note. The note bears interest at the rate of 2.89% per annum and is secured by certain marketable securities owned by the seller and held in a U.S. brokerage account. All principal and accrued interest is due and payable in April 2024. Based primarily on the short-term nature of the note, we estimate that its carrying value approximates fair value as of December 31, 2023. As of December 31, 2023, our $1.3 million carrying value of the promissory note is recorded within “Prepaid expenses and other current assets” in our condensed consolidated balance sheets.

In December 2022, we loaned $15.0 million to Founders in exchange for a Demand Promissory Note secured by the common interest in Founders held by the other member. As of December 31, 2023, the interest rate on the note was 15.00% per annum, and all principal and accrued interest is due on demand. Based primarily on the short-term nature of the note, we estimate that its carrying value approximates fair value as of December 31, 2023.

We use the equity method of accounting to account for our ownership interest in Cash Converters. The inputs used to generate the fair value of the investment in Cash Converters were considered Level 1 inputs. These inputs consist of (a) the quoted stock price on the Australian Stock Exchange multiplied by (b) the number of shares we owned multiplied by (c) the applicable foreign currency exchange rate as of the end of our reporting period. We included no control premium for owning a large percentage of outstanding shares.

We measured the fair value of the 2024, 2025 and 2029 Convertible Notes using quoted price inputs. The notes are not actively traded, and thus the price inputs represent a Level 2 measurement. As the quoted price inputs are highly variable from day to day, the fair value estimates disclosed above could significantly increase or decrease.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 218,516	$ 220,595	$ 207,658
Restricted cash	8,470	8,373	8,359
Pawn loans	243,252	245,766	209,855
Pawn service charges receivable, net	40,002	38,885	34,921
Inventory, net	164,927	166,477	156,064
Prepaid expenses and other current assets	44,001	39,623	45,559
Total current assets	719,168	719,719	662,416
Investments in unconsolidated affiliates	10,125	10,987	37,789
Other investments	51,220	36,220	39,220
Property and equipment, net	68,998	68,096	55,612
Right-of-use assets, net	231,103	234,388	229,991
Goodwill	303,799	302,372	297,361
Intangible assets, net	56,977	58,216	58,029
Notes receivable, net	0	0	1,224
Deferred tax asset, net	25,984	25,702	12,428
Other assets, net	13,819	12,011	8,245
Total assets	1,481,193	1,467,711	1,402,315
Current liabilities:
Current maturities of long-term debt, net	34,307	34,265	0
Accounts payable, accrued expenses and other current liabilities	69,386	81,605	69,930
Customer layaway deposits	18,324	18,920	16,276
Operating lease liabilities, current	57,980	57,182	52,799
Total current liabilities	179,997	191,972	139,005
Long-term debt, net	326,223	325,847	358,984
Deferred tax liability, net	372	435	0
Operating lease liabilities	188,475	193,187	188,730
Other long-term liabilities	11,243	10,502	10,261
Total liabilities	706,310	721,943	696,980
Commitments and contingencies (Note 9)
Stockholders’ equity:
Additional paid-in capital	343,870	346,181	343,012
Retained earnings	457,929	431,140	414,929
Accumulated other comprehensive loss	(27,469)	(32,102)	(53,165)
Total equity	774,883	745,768	705,335
Total liabilities and equity	1,481,193	1,467,711	1,402,315
Common Stock Class A Non-voting
Stockholders’ equity:
Common stock	523	519	529
Common Stock Class B Voting
Stockholders’ equity:
Common stock	$ 30	$ 30	$ 30

Common Stock and Stock Compensation (Tables)

3 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Restricted Stock Award Activity

The following table presents a summary of stock compensation activity:


	Shares	Weighted Average Grant Date Fair Value

Outstanding as of September 30, 2023	2,555,899	$	6.80
Granted (a)	1,349,752	7.39
Released (b)	(1,135,138)	4.96
Cancelled	(32,566)	6.96
Outstanding as of December 31, 2023	2,737,947	$	7.85

(a) Includes performance adjustment of 353,993 shares awarded above their target grants resulting from the achievement of performance targets established at the grant date.

(b) 377,231 shares were withheld to satisfy related income tax withholding.

Supplemental Consolidated Financial Information - Supplemental of Consolidated Statements of Cash Flows Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Supplemental disclosure of cash flow information
Cash and cash equivalents	$ 218,516	$ 207,658	$ 220,595	$ 206,028
Restricted cash	8,470	8,359	8,373	8,341
Total cash and cash equivalents and restricted cash	226,986	216,017	$ 228,968	$ 214,369
Non-cash investing and financing activities:
Pawn loans forfeited and transferred to inventory	96,472	84,851
Transfer of equity consideration for acquisition	0	99
Acquisition earn-out contingency	0	2,000
Accrued acquisition consideration	$ 37	$ 1,250

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating activities:
Net income	$ 28,470	$ 16,778
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	8,565	7,988
Amortization of debt discount and deferred financing costs	417	378
Non-cash lease expense	14,744	13,596
Deferred income taxes	345	656
Other adjustments	(857)	(91)
Provision for inventory reserve	(156)	532
Stock compensation expense	2,264	1,886
Equity in net income from investment in unconsolidated affiliates	(1,153)	(1,584)
Net loss on extinguishment of debt	0	3,545
Changes in operating assets and liabilities, net of business acquisitions:
Pawn service charges receivable	(1,000)	(691)
Inventory	2,066	(1,881)
Prepaid expenses, other current assets and other assets	(5,823)	(2,280)
Accounts payable, accrued expenses and other liabilities	(33,991)	(34,761)
Customer layaway deposits	(719)	(752)
Income taxes	8,309	6,574
Dividends from unconsolidated affiliates	0	1,775
Net cash provided by operating activities	21,481	11,668
Investing activities:
Loans made	(216,978)	(189,074)
Loans repaid	123,021	109,125
Recovery of pawn loan principal through sale of forfeited collateral	98,209	88,030
Capital expenditures, net	(7,184)	(7,182)
Acquisitions, net of cash acquired	(677)	(12,884)
Issuance of notes receivable	0	(15,500)
Investment in unconsolidated affiliate	0	(2,133)
Investment in other investments	(15,000)	(15,000)
Dividends from unconsolidated affiliates	1,745	0
Net cash used in investing activities	(16,864)	(44,618)
Financing activities:
Taxes paid related to net share settlement of equity awards	(3,253)	(1,138)
Proceeds from issuance of debt	0	230,000
Debt issuance cost	0	(7,403)
Cash paid on extinguishment of debt	0	(1,951)
Payments on debt	0	(178,488)
Purchase and retirement of treasury stock	(3,007)	(7,027)
Payments of finance leases	(132)	0
Net cash (used in) provided by financing activities	(6,392)	33,993
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(207)	605
Net (decrease) increase in cash, cash equivalents and restricted cash	(1,982)	1,648
Cash and cash equivalents and restricted cash at beginning of period	228,968	214,369
Cash and cash equivalents and restricted cash at end of period	$ 226,986	$ 216,017

Segment Information (Tables)

3 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Operating Segment Information

The following income (loss) before income taxes tables present revenue for each reportable segment, disaggregated revenue within our reportable segments and Corporate, segment profits and segment contribution.


	Three Months Ended December 31, 2023
(in thousands)	U.S. Pawn		Latin America Pawn		Other Investments		Total Segments		Corporate Items		Consolidated

Revenues:
Merchandise sales	$	125,513	$	53,890	$	—	$	179,403	$	—	$	179,403
Jewelry scrapping sales	12,815		1,267		—		14,082		—		14,082
Pawn service charges	79,073		27,376		—		106,449		—		106,449
Other revenues	37		16		4		57		—		57
Total revenues	217,438		82,549		4		299,991		—		299,991
Merchandise cost of goods sold	78,709		36,501		—		115,210		—		115,210
Jewelry scrapping cost of goods sold	11,284		924		—		12,208		—		12,208

Gross profit	127,445		45,124		4		172,573		—		172,573
Segment and corporate expenses (income):
Store expenses	77,255		33,300		—		110,555		—		110,555
General and administrative	—		—		—		—		16,543		16,543

Depreciation and amortization	2,624		2,339		—		4,963		3,602		8,565
Loss (gain) on sale or disposal of assets and other	26		(196)		—		(170)		(2)		(172)

Interest expense	—		—		—		—		3,440		3,440
Interest income	—		(420)		(573)		(993)		(1,646)		(2,639)
Equity in net income of unconsolidated affiliates	—		—		(1,153)		(1,153)		—		(1,153)

Other (income) expense	—		(48)		1		(47)		(224)		(271)

Segment contribution	$	47,540	$	10,149	$	1,729	$	59,418
Income (loss) before income taxes							$	59,418	$	(21,713)	$	37,705


	Three Months Ended December 31, 2022
(in thousands)	U.S. Pawn		Latin America Pawn		Other Investments		Total Segments		Corporate Items		Consolidated

Revenues:
Merchandise sales	$	118,314	$	45,473	$	—	$	163,787	$	—	$	163,787
Jewelry scrapping sales	7,176		708		—		7,884		—		7,884
Pawn service charges	69,310		23,283		—		92,593		—		92,593
Other revenues	25		16		22		63		—		63
Total revenues	194,825		69,480		22		264,327		—		264,327
Merchandise cost of goods sold	73,256		31,621		—		104,877		—		104,877
Jewelry scrapping cost of goods sold	6,216		737		—		6,953		—		6,953

Gross profit	115,353		37,122		22		152,497		—		152,497
Segment and corporate expenses (income):
Store expenses	73,304		27,499		—		100,803		—		100,803
General and administrative	—		(3)		—		(3)		15,479		15,476

Depreciation and amortization	2,755		2,215		—		4,970		3,018		7,988
Loss (gain) on sale or disposal of assets and other	3		(19)		—		(16)		—		(16)

Interest expense	—		—		—		—		6,190		6,190
Interest income	—		(169)		—		(169)		(495)		(664)
Equity in net income of unconsolidated affiliates	—		—		(1,584)		(1,584)		—		(1,584)

Other expense (income)	—		70		4		74		(308)		(234)
Segment contribution	$	39,291	$	7,529	$	1,602	$	48,422
Income (loss) before income taxes							$	48,422	$	(23,884)	$	24,538

Schedule of Reconciliation of Segment Assets to Consolidated

The following table presents separately identified segment assets:


(in thousands)	U.S. Pawn		Latin America Pawn		Other Investments (a)		Corporate Items		Total

As of December 31, 2023
Pawn loans	$	190,766	$	52,486	$	—	$	—	$	243,252
Pawn service charges receivable, net	35,707		4,295		—		—		40,002
Inventory, net	127,008		37,919		—		—		164,927
Total assets	1,004,075		323,209		78,419		75,490		1,481,193

As of December 31, 2022
Pawn loans	$	166,886	$	42,969	$	—	$	—	$	209,855
Pawn service charges receivable, net	31,064		3,857		—		—		34,921
Inventory, net	117,994		38,070		—		—		156,064
Total assets	900,211		272,153		77,009		152,942		1,402,315

As of September 30, 2023
Pawn loans	$	190,624	$	55,142	$	—	$	—	$	245,766
Pawn service charges receivable, net	34,318		4,567		—		—		38,885
Inventory, net	128,901		37,576		—		—		166,477
Total assets	984,539		313,164		63,707		106,301		1,467,711

(a) Segment assets as of September 30, 2023 have been recast to conform to current year presentation as CCV no longer meets the 10 percent threshold to be considered its own segment.

Supplemental Consolidated Financial Information (Tables)

3 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Information on Accounts Receivable, Net, Inventories, Net, Property and Equipment, Net

The following table provides supplemental information on net amounts included in our condensed consolidated balance sheets:


(in thousands)	December 31, 2023		December 31, 2022		September 30, 2023

Gross pawn service charges receivable	$	50,919	$	44,397	$	50,881
Allowance for uncollectible pawn service charges receivable	(10,917)		(9,476)		(11,996)
Pawn service charges receivable, net	$	40,002	$	34,921	$	38,885

Gross inventory	$	167,660	$	159,286	$	169,138
Inventory reserves	(2,733)		(3,222)		(2,661)
Inventory, net	$	164,927	$	156,064	$	166,477

Prepaid expenses and other	$	6,868	$	11,581	$	4,106
Accounts receivable, notes receivable and other	34,032		22,730		30,548
Income taxes prepaid and receivable	3,101		11,248		4,969
Prepaid expenses and other current assets	$	44,001	$	45,559	$	39,623

Property and equipment, gross	$	352,291	$	312,502	$	345,461
Accumulated depreciation	(283,293)		(256,890)		(277,365)
Property and equipment, net	$	68,998	$	55,612	$	68,096

Accounts payable	$	18,200	$	20,220	$	23,022
Accrued payroll	7,682		4,952		11,472
Incentive accrual	6,859		6,010		18,544
Other payroll related expenses	7,849		10,911		5,262
Accrued sales and VAT taxes	6,089		8,086		5,565
Accrued income taxes payable	9,068		2,562		2,628
Other current liabilities	13,639		17,189		15,112
Accounts payable, accrued expenses and other current liabilities	$	69,386	$	69,930	$	81,605

Schedule of Supplemental Disclosure of Consolidated Statements of Cash Flows Information

The following table provides supplemental disclosure of condensed consolidated statements of cash flows information:


	Three Months Ended December 31,
(in thousands)	2023		2022

Supplemental disclosure of cash flow information
Cash and cash equivalents at beginning of period	$	220,595	$	206,028
Restricted cash at beginning of period	8,373		8,341
Total cash and cash equivalents and restricted cash at beginning of period	$	228,968	$	214,369

Cash and cash equivalents at end of period	$	218,516	$	207,658
Restricted cash at end of period	8,470		8,359
Total cash and cash equivalents and restricted cash at end of period	$	226,986	$	216,017

Non-cash investing and financing activities:
Pawn loans forfeited and transferred to inventory	$	96,472	$	84,851

Transfer of equity consideration for acquisition	—		99
Acquisition earn-out contingency	—		2,000
Accrued acquisition consideration	37		1,250

Goodwill

3 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

NOTE 2: GOODWILL

The following table summarizes the changes in the carrying amount of goodwill by segment and in total:


	Three Months Ended December 31, 2023
(in thousands)	U.S. Pawn		Latin America Pawn		Consolidated

Balances as of September 30, 2023	$	255,942	$	46,430	$	302,372
Acquisitions (a)	416		—		416


Effect of foreign currency translation changes	—		1,011		1,011
Balances as of December 31, 2023	$	256,358	$	47,441	$	303,799

(a) Amount represents goodwill recognized in connection with an immaterial acquisition within the U.S. Pawn segment and we have therefore omitted certain disclosures.


	Three Months Ended December 31, 2022
(in thousands)	U.S. Pawn		Latin America Pawn		Consolidated

Balances as of September 30, 2022	$	245,503	$	41,325	$	286,828
Acquisitions (b)	9,413		—		9,413

Effect of foreign currency translation changes	—		1,120		1,120

Balances as of December 31, 2022	$	254,916	$	42,445	$	297,361

(b) Amount represents goodwill recognized in connection with acquisitions within the U.S. Pawn segment that were immaterial, individually and in the aggregate, and we have therefore omitted certain disclosures.

Goodwill - Schedule of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Beginning balance	$ 302,372	$ 286,828
Acquisitions	416	9,413
Effect of foreign currency translation changes	1,011	1,120
Ending balance	303,799	297,361
U.S. Pawn
Goodwill [Roll Forward]
Beginning balance	255,942	245,503
Acquisitions	416	9,413
Effect of foreign currency translation changes	0	0
Ending balance	256,358	254,916
Latin America Pawn
Goodwill [Roll Forward]
Beginning balance	46,430	41,325
Acquisitions	0	0
Effect of foreign currency translation changes	1,011	1,120
Ending balance	$ 47,441	$ 42,445

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Earnings per Share (Tables)

3 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Schedule of Net Components of Basic and Diluted (Loss) Earnings Per Share

The following table reconciles the number of common shares used to compute basic and diluted earnings per share attributable to EZCORP Inc., shareholders:


	Three Months Ended December 31,
(in thousands, except per share amounts)	2023		2022

Basic earnings per common share:
Net income - basic	$	28,470	$	16,778
Weighted shares outstanding - basic	55,076		56,308
Basic earnings per common share	$	0.52	$	0.30

Diluted earnings per common share:
Net income - basic	$	28,470	$	16,778
Add: Convertible Notes interest expense, net of tax*	2,659		4,540



Net income - diluted	$	31,129	$	21,318
Weighted shares outstanding - basic	55,076		56,308
Equity-based compensation awards - effect of dilution**	1,318		1,118
Convertible Notes - effect of dilution***	30,418		26,353



Weighted shares outstanding - diluted	86,812		83,779
Diluted earnings per common share	$	0.36	$	0.25

Potential common shares excluded from the calculation of diluted earnings per common share above:





Restricted stock****	1,581		1,552

* The three months ended December 31,2022 includes $3.5 million loss on extinguishment of debt recorded to “Interest expense” in the Company’s condensed consolidated statement of operations. See Note 7: Debt for additional information.

** Includes time-based share-based awards and performance based awards for which targets for fiscal year tranches have been achieved and vesting is subject only to achievement of service conditions.

*** See Note 7: Debt for conversion price and initial conversion rate of the 2024 Convertible Notes, 2025 Convertible Notes, and 2029 Convertible Notes.

**** Includes antidilutive share-based awards as well as performance-based share-based awards that are contingently issuable, but for which the condition for issuance has not been met as of the end of the reporting period.

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended
	Oct. 31, 2023	Apr. 30, 2019	Dec. 31, 2022	Mar. 31, 2019
Promissory note receivable due April 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes receivable, fair value		$ 1.1		$ 1.1
Interest on note receivable		2.89%
Promissory note receivable from Founders
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes receivable, fair value			$ 15.0
Interest on note receivable	15.00%

Strategic Investments - Additional Information (Details) - USD ($) $ in Thousands		1 Months Ended			3 Months Ended
	Dec. 02, 2022	Oct. 31, 2023	Nov. 30, 2022	Oct. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023
Schedule of Equity Method Investments [Line Items]
Dividends from unconsolidated affiliates					$ 0	$ 1,775
Income from equity method investments					1,153	1,584
Notes receivable, net					$ 0	$ 1,224	$ 0
Cash Converters International Limited
Schedule of Equity Method Investments [Line Items]
Shares owned (in shares)					273,939,157
Ownership percentage					43.70%
Percentage of ownership increase					30.00%
Dividends from unconsolidated affiliates		$ 1,700	$ 1,800
Founders One LLC
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity investment	$ 15,000	$ 15,000		$ 15,000
Notes receivable, net					$ 15,000
Equity securities, fair value					$ 45,000

Strategic Investments

3 Months Ended

Dec. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

Strategic Investments

NOTE 5: STRATEGIC INVESTMENTS

Cash Converters International Limited

As of December 31, 2023, we owned 273,939,157 shares, or approximately 43.7%, of Cash Converters. We acquired our original investment (representing approximately 30% of the outstanding shares) in November 2009 and have increased our ownership through the acquisition of additional shares periodically since that time.

We received cash dividends from Cash Converters of $1.7 million and $1.8 million, during the three months ended December 31, 2023 and 2022, respectively.

The following tables present summary financial information for Cash Converters most recently reported results at June 30, 2023 after translation to U.S. dollars:


	June 30,
(in thousands)	2023		2022

Current assets	$	189,563	$	158,987
Non-current assets	103,595		170,798
Total assets	$	293,158	$	329,785

Current liabilities	$	97,630	$	59,256
Non-current liabilities	58,777		53,045
Shareholders’ equity	136,751		217,484
Total liabilities and shareholders’ equity	$	293,158	$	329,785


	Full-Year Ended June 30,
(in thousands)	2023		2022

Gross revenues	$	203,608	$	178,215
Gross profit	$	125,709	$	116,106
Net (loss) profit	$	(65,351)	$	8,099

During the three months ended December 31, 2023 and 2022, we recorded our share of income of $1.2 million and $1.6 million, respectively, from Cash Converters, included in “Equity in net income of unconsolidated affiliates” in the condensed consolidated statements of operations.

See Note 6: Fair Value Measurements for the fair value and carrying value of our investment in Cash Converters.

Founders One, LLC

In October 2021, we invested $15.0 million in exchange for a non-redeemable voting participating preferred equity interest in Founders One, LLC (“Founders”), a then newly-formed entity with one other member.

On December 2, 2022, we contributed an additional $15.0 million to Founders associated with our preferred interest. In addition, we loaned $15.0 million to Founders in exchange for a Demand Promissory Note secured by the common interest in Founders held by the other member.

In October 2023, we contributed an additional $15.0 million to Founders associated with our preferred interest, bringing our total equity investment in Founders to $45.0 million.

We have an interest in Founders, a variable interest entity, but because the Company is not the primary beneficiary, we do not consolidate Founders. Further, as we are not the appointed manager, we do not have the ability to direct the activities of the investment entity that most significantly impact its economic performance. Consequently, our equity investment in Founders is accounted for utilizing the measurement alternative within ASC 321, Investments — Equity Securities. As of December 31, 2023, our $45.0 million carrying value of the investment and $15.0 million Demand Promissory Note are included in “Other investments” and “Prepaid expenses and other current assets” in our condensed consolidated balance sheets, respectively. As of December 31, 2023, our maximum exposure for losses related to our investment in Founders was our $45.0 million equity investment and $15.0 million Demand Promissory Note plus accrued and unpaid interest.

See Note 6: Fair Value Measurements for the fair value and carrying value of our loan to Founders

Debt - Schedule of Debt Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Gross Amount	$ 333,373	$ 333,373	$ 367,762
Debt Issuance Costs	(7,150)	(7,526)	(8,778)
Carrying Amount	326,223	325,847	358,984
Gross Amount	367,762	367,762	367,762
Debt Issuance Costs	(7,232)	(7,650)	(8,778)
Carrying Amount	360,530	360,112	358,984
Less current portion, Gross Amount	34,389	34,389	0
Less current portion, Debt Issuance Costs	(82)	(124)	0
Less current portion, Carrying Amount	34,307	34,265	0
Senior Notes
Debt Instrument [Line Items]
Gross Amount	367,762
2029 Convertible Notes \| Senior Notes
Debt Instrument [Line Items]
Gross Amount	230,000	230,000	230,000
Debt Issuance Costs	(6,472)	(6,716)	(7,351)
Carrying Amount	223,528	223,284	222,649
Gross Amount	230,000
2025 Convertible Notes \| Senior Notes
Debt Instrument [Line Items]
Gross Amount	103,373	103,373	103,373
Debt Issuance Costs	(678)	(810)	(1,181)
Carrying Amount	102,695	102,563	102,192
Gross Amount	103,373
2024 Convertible Notes \| Senior Notes
Debt Instrument [Line Items]
Gross Amount	34,389	34,389	34,389
Debt Issuance Costs	(82)	(124)	(246)
Carrying Amount	34,307	$ 34,265	$ 34,143
Gross Amount	$ 34,389

Debt - Convertible Senior Notes Due 2024 (Details)	Jul. 05, 2017 USD ($) day $ / shares	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Amount outstanding \| $		$ 367,762,000	$ 367,762,000	$ 367,762,000
Senior Notes
Debt Instrument [Line Items]
Amount outstanding \| $		367,762,000
2024 Convertible Notes \| Common Class A
Debt Instrument [Line Items]
Conversion rate per $1,000 principal amount	0.1
2024 Convertible Notes \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate	2.875%
Principle amount \| $	$ 143,750,000
Amount outstanding \| $		$ 34,389,000
Effective interest rate		3.35%
Conversion price, per share (in dollars per share) \| $ / shares	$ 10.00
2024 Convertible Notes \| Senior Notes \| Debt Conversion, Condition One
Debt Instrument [Line Items]
Threshold trading days (whether or not consecutive) \| day	20
Threshold consecutive trading days \| day	30
Threshold percentage of stock price trigger	130.00%
2024 Convertible Notes \| Senior Notes \| Debt Conversion, Condition One \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Threshold trading days (whether or not consecutive) \| day	20
Threshold consecutive trading days \| day	30
Threshold percentage of stock price trigger	130.00%
Repurchase price, percent of principal amount	100.00%
2024 Convertible Notes \| Senior Notes \| Debt Conversion, Condition Two
Debt Instrument [Line Items]
Business day threshold	5 days
Threshold consecutive trading days	5 days
Maximum percentage of stock price product	98.00%

Organization and Summary of Significant Accounting Policies	3 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Organization and Summary of Significant Accounting Policies	NOTE 1: ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business EZCORP, Inc. (collectively with its subsidiaries, the “Company,” “we,” “us,” or “our”) is a provider of pawn loans in the United States (“U.S.”) and Latin America. Pawn loans are non-recourse loans collateralized by tangible property. We also sell merchandise, primarily collateral forfeited from pawn lending operations and pre-owned merchandise purchased from customers. Basis of Presentation The accompanying interim unaudited condensed consolidated financial statements (“Condensed Consolidated Financial Statements”) have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. These Condensed Consolidated Financial Statements should be read in conjunction with the audited consolidated financial statements and related notes contained in our Annual Report on Form 10-K for the year ended September 30, 2023, filed with the Securities and Exchange Commission (“SEC”) on November 15, 2023 (“2023 Annual Report”). In the opinion of management, the accompanying Condensed Consolidated Financial Statements include all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation. Financial results for the three-month period ended December 31, 2023, are not necessarily indicative of results that may be expected for the fiscal year ending September 30, 2024 or any other period due, in part, to seasonal variations. There have been no changes that have had a material impact in significant accounting policies as described in our 2023 Annual Report. Principles of Consolidation The accompanying Condensed Consolidated Financial Statements include the accounts of EZCORP, Inc. and its wholly-owned subsidiaries. We use the equity method of accounting for entities in which we have a 50% or less investment and exercise significant influence. We account for equity investments for which we do not have significant influence and without readily determinable fair values at cost with adjustments for observable changes in price in orderly transactions for identical or similar investments of the same issuer or impairments. All inter-company accounts and transactions have been eliminated in consolidation. Use of Estimates and Assumptions The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates and assumptions include the determination of inventory reserves, expected credit losses, useful lives of long-lived and intangible assets, valuation of share-based compensation, valuation of equity investments, valuation of deferred tax assets and liabilities, loss contingencies related to litigation and discount rates used for operating leases. We base our estimates on historical experience, observable trends and various other assumptions we believe are reasonable. Actual results may differ materially from these estimates under different assumptions or conditions. Merchandise Sales Revenue Recognition Customer layaway deposits are recorded as liabilities when a customer provides a deposit for merchandise. Customer layaway deposits are generally refundable upon cancellation. Our customer layaway deposits balance as of December 31, 2023, 2022 and September 30, 2023 was $18.3 million, $16.3 million and $18.9 million, respectively, and are generally recognized as revenue within a one-year period. Investments We account for our investment in Rich Data Corporation (“RDC”) in accordance with Accounting Standards Codification (“ASC”) 321, Investments — Equity Securities, and we have elected to use the measurement alternative to measure this investment at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer, if any. As of December 31, 2023 and September 30, 2023, the carrying value of our investment in RDC was $6.2 million. Refer to Note 5: Strategic Investments for details on our investment in Founders One, LLC (“Founders”). Recently Issued Accounting Pronouncements In October 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-06, Disclosure Improvements - Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative (“ASU 2023-06”). ASU 2023-06 will impact various disclosure areas, including the statement of cash flows, accounting changes and error corrections, earnings per share, debt, equity, derivatives, and transfers of financial assets. The amendments in this ASU 2023-06 will be effective on the date the related disclosures are removed from Regulation S-X or Regulation S-K by the SEC, and will no longer be effective if the SEC has not removed the applicable disclosure requirement by June 30, 2027. Early adoption is prohibited. We are currently evaluating the impact of this standard on our consolidated financial statements and related disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”). ASU 2023-07 requires disclosure of significant segment expenses regularly provided to the chief operating decision maker (“CODM”) included within segment operating profit or loss. Additionally, the ASU requires a description of how the CODM utilizes segment operating profit or loss to assess segment performance. The requirements of this ASU 2023-07 are effective for the Company for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted, and retrospective application is required for all periods presented. We are currently evaluating the impact of this standard on our consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). ASU 2023-09 requires disclosure of specific categories and disaggregation of information in the rate reconciliation table. The ASU also requires disclosure of disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. The requirements of this ASU 2023-09 are effective for the Company for fiscal years beginning after December 15, 2024. Early adoption is permitted, and the amendments should be applied on a prospective basis. Retrospective application is permitted. We are currently evaluating the impact of this standard on our consolidated financial statements and related disclosures.

Debt - Convertible Senior Notes Due 2029 (Details)				1 Months Ended	3 Months Ended
Debt - Convertible Senior Notes Due 2029 (Details)	Dec. 12, 2022 day $ / shares	May 14, 2018 USD ($) day $ / shares	Jul. 05, 2017 USD ($) day $ / shares	Dec. 31, 2022 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Loss on extinguishment of debt \| $					$ 0	$ 3,545,000
2029 Convertible Notes \| Common Class A
Debt Instrument [Line Items]
Conversion rate per $1,000 principal amount				0.0890313
2029 Convertible Notes \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate	3.75%			3.75%		3.75%
Principle amount \| $				$ 230,000,000		$ 230,000,000
Effective interest rate					4.28%
Conversion price, per share (in dollars per share) \| $ / shares	$ 11.23
2029 Convertible Notes \| Senior Notes \| Debt Conversion, Condition One
Debt Instrument [Line Items]
Threshold trading days (whether or not consecutive)	20
Threshold consecutive trading days	30
Threshold percentage of stock price trigger	130.00%
2029 Convertible Notes \| Senior Notes \| Debt Conversion, Condition One \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Threshold trading days (whether or not consecutive)	20
Threshold consecutive trading days	30
Threshold percentage of stock price trigger	130.00%
Repurchase price, percent of principal amount	100.00%
2029 Convertible Notes \| Senior Notes \| Debt Conversion, Condition Two
Debt Instrument [Line Items]
Threshold consecutive trading days	5
Threshold percentage of stock price trigger	98.00%
Business day threshold	5
2024 Convertible Notes \| Common Class A
Debt Instrument [Line Items]
Conversion rate per $1,000 principal amount			0.1
2024 Convertible Notes \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate			2.875%
Principle amount \| $			$ 143,750,000
Effective interest rate					3.35%
Conversion price, per share (in dollars per share) \| $ / shares			$ 10.00
Loss on extinguishment of debt \| $					$ 0	8,935,000
2024 Convertible Notes \| Senior Notes \| Debt Conversion, Condition One
Debt Instrument [Line Items]
Threshold trading days (whether or not consecutive)			20
Threshold consecutive trading days			30
Threshold percentage of stock price trigger			130.00%
2024 Convertible Notes \| Senior Notes \| Debt Conversion, Condition One \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Threshold trading days (whether or not consecutive)			20
Threshold consecutive trading days			30
Threshold percentage of stock price trigger			130.00%
Repurchase price, percent of principal amount			100.00%
2024 Convertible Notes \| Notes Repurchases
Debt Instrument [Line Items]
Repurchased principal amount \| $				109,400,000		109,400,000
Repurchase price \| $				117,500,000		117,500,000
2025 Convertible Notes \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate		2.375%
Principle amount \| $		$ 172,500,000
Effective interest rate					2.88%
Conversion rate per $1,000 principal amount		0.0628931
Conversion price, per share (in dollars per share) \| $ / shares		$ 15.90
Loss on extinguishment of debt \| $					$ 0	(5,389,000)
2025 Convertible Notes \| Senior Notes \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Threshold consecutive trading days		30
Threshold percentage of stock price trigger		130.00%
Repurchase price, percent of principal amount		100.00%
2025 Convertible Notes \| Senior Notes \| Debt Conversion, Condition One
Debt Instrument [Line Items]
Threshold trading days (whether or not consecutive)		20
Threshold consecutive trading days		30
Threshold percentage of stock price trigger		130.00%
2025 Convertible Notes \| Senior Notes \| Debt Conversion, Condition Two
Debt Instrument [Line Items]
Threshold consecutive trading days		5
Threshold percentage of stock price trigger		98.00%
Business day threshold		5
2025 Convertible Notes \| Notes Repurchases
Debt Instrument [Line Items]
Repurchased principal amount \| $				69,100,000		69,100,000
Repurchase price \| $				$ 62,900,000		$ 62,900,000

Supplemental Consolidated Financial Information - Supplemental Consolidated Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Gross pawn service charges receivable	$ 50,919	$ 50,881	$ 44,397
Allowance for uncollectible pawn service charges receivable	(10,917)	(11,996)	(9,476)
Pawn service charges receivable, net	40,002	38,885	34,921
Gross inventory	167,660	169,138	159,286
Inventory reserves	(2,733)	(2,661)	(3,222)
Inventory, net	164,927	166,477	156,064
Prepaid expenses and other	6,868	4,106	11,581
Accounts receivable, notes receivable and other	34,032	30,548	22,730
Income taxes prepaid and receivable	3,101	4,969	11,248
Prepaid expenses and other current assets	44,001	39,623	45,559
Property and equipment, gross	352,291	345,461	312,502
Accumulated depreciation	(283,293)	(277,365)	(256,890)
Property and equipment, net	68,998	68,096	55,612
Accounts payable	18,200	23,022	20,220
Accrued payroll	7,682	11,472	4,952
Incentive accrual	6,859	18,544	6,010
Other payroll related expenses	7,849	5,262	10,911
Accrued sales and VAT taxes	6,089	5,565	8,086
Accrued income taxes payable	9,068	2,628	2,562
Other current liabilities	13,639	15,112	17,189
Accounts payable, accrued expenses and other current liabilities	$ 69,386	$ 81,605	$ 69,930

Strategic Investments - Equity Method Investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Summary of financial information for Cash Converters International Limited
Current assets	$ 719,168	$ 662,416	$ 719,719
Total assets	1,481,193	1,402,315	1,467,711
Current liabilities	179,997	139,005	191,972
Shareholders’ equity	774,883	705,335	745,768	$ 692,231
Total liabilities and equity	1,481,193	1,402,315	1,467,711
Gross profit	172,573	152,497
Net (loss) profit	28,470	16,778
Cash Converters International Limited
Summary of financial information for Cash Converters International Limited
Current assets			189,563	158,987
Non-current assets			103,595	170,798
Total assets			293,158	329,785
Current liabilities			97,630	59,256
Non-current liabilities			58,777	53,045
Shareholders’ equity			136,751	217,484
Total liabilities and equity			$ 293,158	$ 329,785
Gross revenues	203,608	178,215
Gross profit	125,709	116,106
Net (loss) profit	$ (65,351)	$ 8,099

Supplemental Consolidated Financial Information

3 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplemental Consolidated Financial Information

NOTE 11: SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION

The following table provides supplemental information on net amounts included in our condensed consolidated balance sheets:


(in thousands)	December 31, 2023		December 31, 2022		September 30, 2023

Gross pawn service charges receivable	$	50,919	$	44,397	$	50,881
Allowance for uncollectible pawn service charges receivable	(10,917)		(9,476)		(11,996)
Pawn service charges receivable, net	$	40,002	$	34,921	$	38,885

Gross inventory	$	167,660	$	159,286	$	169,138
Inventory reserves	(2,733)		(3,222)		(2,661)
Inventory, net	$	164,927	$	156,064	$	166,477

Prepaid expenses and other	$	6,868	$	11,581	$	4,106
Accounts receivable, notes receivable and other	34,032		22,730		30,548
Income taxes prepaid and receivable	3,101		11,248		4,969
Prepaid expenses and other current assets	$	44,001	$	45,559	$	39,623

Property and equipment, gross	$	352,291	$	312,502	$	345,461
Accumulated depreciation	(283,293)		(256,890)		(277,365)
Property and equipment, net	$	68,998	$	55,612	$	68,096

Accounts payable	$	18,200	$	20,220	$	23,022
Accrued payroll	7,682		4,952		11,472
Incentive accrual	6,859		6,010		18,544
Other payroll related expenses	7,849		10,911		5,262
Accrued sales and VAT taxes	6,089		8,086		5,565
Accrued income taxes payable	9,068		2,562		2,628
Other current liabilities	13,639		17,189		15,112
Accounts payable, accrued expenses and other current liabilities	$	69,386	$	69,930	$	81,605

The following table provides supplemental disclosure of condensed consolidated statements of cash flows information:


	Three Months Ended December 31,
(in thousands)	2023		2022

Supplemental disclosure of cash flow information
Cash and cash equivalents at beginning of period	$	220,595	$	206,028
Restricted cash at beginning of period	8,373		8,341
Total cash and cash equivalents and restricted cash at beginning of period	$	228,968	$	214,369

Cash and cash equivalents at end of period	$	218,516	$	207,658
Restricted cash at end of period	8,470		8,359
Total cash and cash equivalents and restricted cash at end of period	$	226,986	$	216,017

Non-cash investing and financing activities:
Pawn loans forfeited and transferred to inventory	$	96,472	$	84,851

Transfer of equity consideration for acquisition	—		99
Acquisition earn-out contingency	—		2,000
Accrued acquisition consideration	37		1,250

Segment Information

3 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Information

NOTE 10: SEGMENT INFORMATION

Our operations are primarily managed on a geographical basis and are comprised of three reportable segments. The factors for determining our reportable segments include the manner in which our chief operating decision maker evaluates performance for purposes of allocating resources and assessing performance.

We currently report our segments as follows:

•U.S. Pawn — all pawn activities in the United States;

•Latin America Pawn — all pawn activities in Mexico and other parts of Latin America; and

•Other Investments — primarily our equity interest in the net income of Cash Converters along with our investment in RDC and our investment in and notes receivable from Founders.

There are no inter-segment revenues presented below, and the amounts below were determined in accordance with the same accounting principles used in our condensed consolidated financial statements.


	Three Months Ended December 31, 2023
(in thousands)	U.S. Pawn		Latin America Pawn		Other Investments		Total Segments		Corporate Items		Consolidated

Revenues:
Merchandise sales	$	125,513	$	53,890	$	—	$	179,403	$	—	$	179,403
Jewelry scrapping sales	12,815		1,267		—		14,082		—		14,082
Pawn service charges	79,073		27,376		—		106,449		—		106,449
Other revenues	37		16		4		57		—		57
Total revenues	217,438		82,549		4		299,991		—		299,991
Merchandise cost of goods sold	78,709		36,501		—		115,210		—		115,210
Jewelry scrapping cost of goods sold	11,284		924		—		12,208		—		12,208

Gross profit	127,445		45,124		4		172,573		—		172,573
Segment and corporate expenses (income):
Store expenses	77,255		33,300		—		110,555		—		110,555
General and administrative	—		—		—		—		16,543		16,543

Depreciation and amortization	2,624		2,339		—		4,963		3,602		8,565
Loss (gain) on sale or disposal of assets and other	26		(196)		—		(170)		(2)		(172)

Interest expense	—		—		—		—		3,440		3,440
Interest income	—		(420)		(573)		(993)		(1,646)		(2,639)
Equity in net income of unconsolidated affiliates	—		—		(1,153)		(1,153)		—		(1,153)

Other (income) expense	—		(48)		1		(47)		(224)		(271)

Segment contribution	$	47,540	$	10,149	$	1,729	$	59,418
Income (loss) before income taxes							$	59,418	$	(21,713)	$	37,705


	Three Months Ended December 31, 2022
(in thousands)	U.S. Pawn		Latin America Pawn		Other Investments		Total Segments		Corporate Items		Consolidated

Revenues:
Merchandise sales	$	118,314	$	45,473	$	—	$	163,787	$	—	$	163,787
Jewelry scrapping sales	7,176		708		—		7,884		—		7,884
Pawn service charges	69,310		23,283		—		92,593		—		92,593
Other revenues	25		16		22		63		—		63
Total revenues	194,825		69,480		22		264,327		—		264,327
Merchandise cost of goods sold	73,256		31,621		—		104,877		—		104,877
Jewelry scrapping cost of goods sold	6,216		737		—		6,953		—		6,953

Gross profit	115,353		37,122		22		152,497		—		152,497
Segment and corporate expenses (income):
Store expenses	73,304		27,499		—		100,803		—		100,803
General and administrative	—		(3)		—		(3)		15,479		15,476

Depreciation and amortization	2,755		2,215		—		4,970		3,018		7,988
Loss (gain) on sale or disposal of assets and other	3		(19)		—		(16)		—		(16)

Interest expense	—		—		—		—		6,190		6,190
Interest income	—		(169)		—		(169)		(495)		(664)
Equity in net income of unconsolidated affiliates	—		—		(1,584)		(1,584)		—		(1,584)

Other expense (income)	—		70		4		74		(308)		(234)
Segment contribution	$	39,291	$	7,529	$	1,602	$	48,422
Income (loss) before income taxes							$	48,422	$	(23,884)	$	24,538

The following table presents separately identified segment assets:


(in thousands)	U.S. Pawn		Latin America Pawn		Other Investments (a)		Corporate Items		Total

As of December 31, 2023
Pawn loans	$	190,766	$	52,486	$	—	$	—	$	243,252
Pawn service charges receivable, net	35,707		4,295		—		—		40,002
Inventory, net	127,008		37,919		—		—		164,927
Total assets	1,004,075		323,209		78,419		75,490		1,481,193

As of December 31, 2022
Pawn loans	$	166,886	$	42,969	$	—	$	—	$	209,855
Pawn service charges receivable, net	31,064		3,857		—		—		34,921
Inventory, net	117,994		38,070		—		—		156,064
Total assets	900,211		272,153		77,009		152,942		1,402,315

As of September 30, 2023
Pawn loans	$	190,624	$	55,142	$	—	$	—	$	245,766
Pawn service charges receivable, net	34,318		4,567		—		—		38,885
Inventory, net	128,901		37,576		—		—		166,477
Total assets	984,539		313,164		63,707		106,301		1,467,711

(a) Segment assets as of September 30, 2023 have been recast to conform to current year presentation as CCV no longer meets the 10 percent threshold to be considered its own segment.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Debt (Tables)

3 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Long Term Debt Instruments

The following table presents the Company's debt instruments outstanding:


	December 31, 2023						December 31, 2022						September 30, 2023
(in thousands)	Gross Amount		Debt Issuance Costs		Carrying Amount		Gross Amount		Debt Issuance Costs		Carrying Amount		Gross Amount		Debt Issuance Costs		Carrying Amount

2029 Convertible Notes	$	230,000	$	(6,472)	$	223,528	$	230,000	$	(7,351)	$	222,649	$	230,000	$	(6,716)	$	223,284
2025 Convertible Notes	103,373		(678)		102,695		103,373		(1,181)		102,192		103,373		(810)		102,563
2024 Convertible Notes	34,389		(82)		34,307		34,389		(246)		34,143		34,389		(124)		34,265

Total	$	367,762	$	(7,232)	$	360,530	$	367,762	$	(8,778)	$	358,984	$	367,762	$	(7,650)	$	360,112
Less current portion	34,389		(82)		34,307		—		—		—		34,389		(124)		34,265
Total long-term debt	$	333,373	$	(7,150)	$	326,223	$	367,762	$	(8,778)	$	358,984	$	333,373	$	(7,526)	$	325,847

Schedule of Maturities of Long-Term Debt

The following table presents the Company’s contractual maturities related to the debt instruments as of December 31, 2023:


	Schedule of Contractual Maturities
(in thousands)	2029 Convertible Notes		2025 Convertible Notes		2024 Convertible Notes		Total

Remaining 2024	$	—	$	—	$	34,389	$	34,389
Fiscal 2025	—		103,373		—		103,373
Fiscal 2026	—		—		—		—
Fiscal 2027	—		—		—		—
Fiscal 2028	—		—		—		—
Thereafter	230,000		—		—		230,000
Total long-term debt	$	230,000	$	103,373	$	34,389	$	367,762

Schedule of Interest Expense

The following table presents the Company’s interest expense related to the Convertible Notes for the three months ended December 31, 2023 and 2022:


	Three Months Ended December 31,
(in thousands)	2023		2022

2029 Convertible Notes:
Contractual interest expense	$	2,156	$	431
Amortization of deferred financing costs	244		52

Total interest expense	$	2,400	$	483

2025 Convertible Notes:
Contractual interest expense	$	614	$	942
Amortization of deferred financing costs	131		188
Gain on extinguishment	—		(5,389)
Total interest expense	$	745	$	(4,259)

2024 Convertible Notes:
Contractual interest expense	$	247	$	876
Amortization of deferred financing costs	42		138
Loss on extinguishment	—		8,935
Total interest expense	$	289	$	9,949

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Organization and Summary of Significant Accounting Policies - Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 10,125	$ 10,987	$ 37,789
Rich Data Corporation (RDC)
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 6,200	$ 6,200

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Basic earnings per common share:
Net income - basic	$ 28,470	$ 16,778
Weighted shares outstanding - basic (in shares)	55,076	56,308
Basic earnings per common share (in dollars per share)	$ 0.52	$ 0.30
Diluted earnings per common share:
Net income - basic	$ 28,470	$ 16,778
Add: Convertible Notes expense, net of tax	2,659	4,540
Net income - diluted	$ 31,129	$ 21,318
Weighted shares outstanding - basic (in shares)	55,076	56,308
Equity-based compensation awards - effect of dilution (in shares)	1,318	1,118
Convertible Notes - effect of dilution (in shares)	30,418	26,353
Weighted shares outstanding - diluted (in shares)	86,812	83,779
Diluted earnings per common share (in dollars per share)	$ 0.36	$ 0.25
Loss on extinguishment of debt	$ 0	$ 3,545
2025 Convertible Notes
Diluted earnings per common share:
Loss on extinguishment of debt		$ 3,500
Restricted stock
Diluted earnings per common share:
Potential common shares excluded from the calculation of diluted earnings per common share above (in shares)	1,581	1,552

Leases - Lessee Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Lease assets:
Operating lease right-of-use assets	$ 231,103	$ 234,388	$ 229,991
Financing lease assets	2,124	2,178	563
Total lease assets	233,227	236,566	230,554
Current:
Operating lease liabilities	57,980	57,182	52,799
Financing lease liabilities	572	530	121
Total current lease liabilities	58,552	57,712	52,920
Non-current:
Operating lease liabilities	188,475	193,187	188,730
Financing lease liabilities	1,644	1,715	447
Total non-current lease liabilities	190,119	194,902	189,177
Total lease liabilities	$ 248,671	$ 252,614	$ 242,097
Finance Lease, Other Assets, Statement of Financial Position [Extensible Enumeration]	Other Assets, Noncurrent	Other Assets, Noncurrent	Other Assets, Noncurrent
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accounts payable, accrued expenses and other current liabilities	Accounts payable, accrued expenses and other current liabilities	Accounts payable, accrued expenses and other current liabilities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent

Organization and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation The accompanying interim unaudited condensed consolidated financial statements (“Condensed Consolidated Financial Statements”) have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. These Condensed Consolidated Financial Statements should be read in conjunction with the audited consolidated financial statements and related notes contained in our Annual Report on Form 10-K for the year ended September 30, 2023, filed with the Securities and Exchange Commission (“SEC”) on November 15, 2023 (“2023 Annual Report”). In the opinion of management, the accompanying Condensed Consolidated Financial Statements include all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation. Financial results for the three-month period ended December 31, 2023, are not necessarily indicative of results that may be expected for the fiscal year ending September 30, 2024 or any other period due, in part, to seasonal variations. There have been no changes that have had a material impact in significant accounting policies as described in our 2023 Annual Report. Principles of Consolidation The accompanying Condensed Consolidated Financial Statements include the accounts of EZCORP, Inc. and its wholly-owned subsidiaries. We use the equity method of accounting for entities in which we have a 50% or less investment and exercise significant influence. We account for equity investments for which we do not have significant influence and without readily determinable fair values at cost with adjustments for observable changes in price in orderly transactions for identical or similar investments of the same issuer or impairments. All inter-company accounts and transactions have been eliminated in consolidation.
Use of Estimates and Assumptions	Use of Estimates and Assumptions The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates and assumptions include the determination of inventory reserves, expected credit losses, useful lives of long-lived and intangible assets, valuation of share-based compensation, valuation of equity investments, valuation of deferred tax assets and liabilities, loss contingencies related to litigation and discount rates used for operating leases. We base our estimates on historical experience, observable trends and various other assumptions we believe are reasonable. Actual results may differ materially from these estimates under different assumptions or conditions.
Merchandise Sales Revenue Recognition	Merchandise Sales Revenue Recognition Customer layaway deposits are recorded as liabilities when a customer provides a deposit for merchandise. Customer layaway deposits are generally refundable upon cancellation. Our customer layaway deposits balance as of December 31, 2023, 2022 and September 30, 2023 was $18.3 million, $16.3 million and $18.9 million, respectively, and are generally recognized as revenue within a one-year period.
Investments	Investments We account for our investment in Rich Data Corporation (“RDC”) in accordance with Accounting Standards Codification (“ASC”) 321, Investments — Equity Securities, and we have elected to use the measurement alternative to measure this investment at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer, if any.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In October 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-06, Disclosure Improvements - Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative (“ASU 2023-06”). ASU 2023-06 will impact various disclosure areas, including the statement of cash flows, accounting changes and error corrections, earnings per share, debt, equity, derivatives, and transfers of financial assets. The amendments in this ASU 2023-06 will be effective on the date the related disclosures are removed from Regulation S-X or Regulation S-K by the SEC, and will no longer be effective if the SEC has not removed the applicable disclosure requirement by June 30, 2027. Early adoption is prohibited. We are currently evaluating the impact of this standard on our consolidated financial statements and related disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”). ASU 2023-07 requires disclosure of significant segment expenses regularly provided to the chief operating decision maker (“CODM”) included within segment operating profit or loss. Additionally, the ASU requires a description of how the CODM utilizes segment operating profit or loss to assess segment performance. The requirements of this ASU 2023-07 are effective for the Company for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted, and retrospective application is required for all periods presented. We are currently evaluating the impact of this standard on our consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). ASU 2023-09 requires disclosure of specific categories and disaggregation of information in the rate reconciliation table. The ASU also requires disclosure of disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. The requirements of this ASU 2023-09 are effective for the Company for fiscal years beginning after December 15, 2024. Early adoption is permitted, and the amendments should be applied on a prospective basis. Retrospective application is permitted. We are currently evaluating the impact of this standard on our consolidated financial statements and related disclosures.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 28,470	$ 16,778
Other comprehensive income:
Foreign currency translation adjustment, net of income tax benefit for our investment in unconsolidated affiliate of $57 and $396 for the three months ended December 31, 2023, and 2022, respectively	4,633	2,504
Comprehensive income	$ 33,103	$ 19,282

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Organization and Summary of Significant Accounting Policies - Merchandise Sales Revenue Recognition (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Customer layaway deposits	$ 18,324	$ 18,920	$ 16,276

Cover Page - shares	3 Months Ended
Cover Page - shares	Dec. 31, 2023	Jan. 24, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	0-19424
Entity Registrant Name	EZCORP, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	74-2540145
Entity Address, Address Line One	2500 Bee Cave Road
Entity Address, Address Line Two	Bldg One
Entity Address, Address Line Three	Suite 200
Entity Address, City or Town	Rollingwood
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78746
City Area Code	512
Local Phone Number	314-3400
Title of 12(b) Security	Class A Non-voting Common Stock, par value $.01 per share
Trading Symbol	EZPW
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Entity Central Index Key	0000876523
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--09-30
Common Stock Class A Non-voting
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		52,183,780
Common Stock Class B Voting
Document Information [Line Items]
No Trading Symbol Class B
Entity Common Stock, Shares Outstanding		2,970,171

Leases - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Operating lease payments	$ 20,300	$ 21,400
Payments of finance leases	132	0
Interest on financing lease liabilities	100	0
Operating lease liability non cash	9,300	20,500
Finance lease liability non cash	$ 100	$ 400
Minimum
Lessee, Lease, Description [Line Items]
Initial term of lease	3 years
Finance, term of lease	2 years
Maximum
Lessee, Lease, Description [Line Items]
Initial term of lease	10 years
Finance, term of lease	5 years

Segment Information - Operating Segment Information (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment	3
Revenues:
Total revenues	$ 299,991	$ 264,327
Gross profit	172,573	152,497
Segment and corporate expenses (income):
Store expenses	110,555	100,803
General and administrative	16,543	15,476
Depreciation and amortization	8,565	7,988
Loss (gain) on sale or disposal of assets and other	(172)	(16)
Interest expense	3,440	6,190
Interest income	(2,639)	(664)
Equity in net income of unconsolidated affiliates	(1,153)	(1,584)
Other (income) expense	(271)	(234)
Income before income taxes	37,705	24,538
Operating Segments
Revenues:
Total revenues	299,991	264,327
Gross profit	172,573	152,497
Segment and corporate expenses (income):
Store expenses	110,555	100,803
General and administrative	0	(3)
Depreciation and amortization	4,963	4,970
Loss (gain) on sale or disposal of assets and other	(170)	(16)
Interest expense	0	0
Interest income	(993)	(169)
Equity in net income of unconsolidated affiliates	(1,153)	(1,584)
Other (income) expense	(47)	74
Income before income taxes	59,418	48,422
Operating Segments \| U.S. Pawn
Revenues:
Total revenues	217,438	194,825
Gross profit	127,445	115,353
Segment and corporate expenses (income):
Store expenses	77,255	73,304
General and administrative	0	0
Depreciation and amortization	2,624	2,755
Loss (gain) on sale or disposal of assets and other	26	3
Interest expense	0	0
Interest income	0	0
Equity in net income of unconsolidated affiliates	0	0
Other (income) expense	0	0
Income before income taxes	47,540	39,291
Operating Segments \| Latin America Pawn
Revenues:
Total revenues	82,549	69,480
Gross profit	45,124	37,122
Segment and corporate expenses (income):
Store expenses	33,300	27,499
General and administrative	0	(3)
Depreciation and amortization	2,339	2,215
Loss (gain) on sale or disposal of assets and other	(196)	(19)
Interest expense	0	0
Interest income	(420)	(169)
Equity in net income of unconsolidated affiliates	0	0
Other (income) expense	(48)	70
Income before income taxes	10,149	7,529
Operating Segments \| Other Investments
Revenues:
Total revenues	4	22
Gross profit	4	22
Segment and corporate expenses (income):
Store expenses	0	0
General and administrative	0	0
Depreciation and amortization	0	0
Loss (gain) on sale or disposal of assets and other	0	0
Interest expense	0	0
Interest income	(573)	0
Equity in net income of unconsolidated affiliates	(1,153)	(1,584)
Other (income) expense	1	4
Income before income taxes	1,729	1,602
Corporate Items
Revenues:
Total revenues	0	0
Gross profit	0	0
Segment and corporate expenses (income):
Store expenses	0	0
General and administrative	16,543	15,479
Depreciation and amortization	3,602	3,018
Loss (gain) on sale or disposal of assets and other	(2)	0
Interest expense	3,440	6,190
Interest income	(1,646)	(495)
Equity in net income of unconsolidated affiliates	0	0
Other (income) expense	(224)	(308)
Income before income taxes	(21,713)	(23,884)
Merchandise sales
Revenues:
Total revenues	179,403	163,787
Cost of goods sold	115,210	104,877
Merchandise sales \| Operating Segments
Revenues:
Total revenues	179,403	163,787
Cost of goods sold	115,210	104,877
Merchandise sales \| Operating Segments \| U.S. Pawn
Revenues:
Total revenues	125,513	118,314
Cost of goods sold	78,709	73,256
Merchandise sales \| Operating Segments \| Latin America Pawn
Revenues:
Total revenues	53,890	45,473
Cost of goods sold	36,501	31,621
Merchandise sales \| Operating Segments \| Other Investments
Revenues:
Total revenues	0	0
Cost of goods sold	0	0
Merchandise sales \| Corporate Items
Revenues:
Total revenues	0	0
Cost of goods sold	0	0
Jewelry scrapping sales
Revenues:
Total revenues	14,082	7,884
Cost of goods sold	12,208	6,953
Jewelry scrapping sales \| Operating Segments
Revenues:
Total revenues	14,082	7,884
Cost of goods sold	12,208	6,953
Jewelry scrapping sales \| Operating Segments \| U.S. Pawn
Revenues:
Total revenues	12,815	7,176
Cost of goods sold	11,284	6,216
Jewelry scrapping sales \| Operating Segments \| Latin America Pawn
Revenues:
Total revenues	1,267	708
Cost of goods sold	924	737
Jewelry scrapping sales \| Operating Segments \| Other Investments
Revenues:
Total revenues	0	0
Cost of goods sold	0	0
Jewelry scrapping sales \| Corporate Items
Revenues:
Total revenues	0	0
Cost of goods sold	0	0
Pawn service charges
Revenues:
Total revenues	106,449	92,593
Pawn service charges \| Operating Segments
Revenues:
Total revenues	106,449	92,593
Pawn service charges \| Operating Segments \| U.S. Pawn
Revenues:
Total revenues	79,073	69,310
Pawn service charges \| Operating Segments \| Latin America Pawn
Revenues:
Total revenues	27,376	23,283
Pawn service charges \| Operating Segments \| Other Investments
Revenues:
Total revenues	0	0
Pawn service charges \| Corporate Items
Revenues:
Total revenues	0	0
Other revenues
Revenues:
Total revenues	57	63
Other revenues \| Operating Segments
Revenues:
Total revenues	57	63
Other revenues \| Operating Segments \| U.S. Pawn
Revenues:
Total revenues	37	25
Other revenues \| Operating Segments \| Latin America Pawn
Revenues:
Total revenues	16	16
Other revenues \| Operating Segments \| Other Investments
Revenues:
Total revenues	4	22
Other revenues \| Corporate Items
Revenues:
Total revenues	$ 0	$ 0

Debt - Principal Payment Schedule (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Gross Amount	$ 367,762	$ 367,762	$ 367,762
Senior Notes
Debt Instrument [Line Items]
Remaining 2024	34,389
Fiscal 2025	103,373
Fiscal 2026	0
Fiscal 2027	0
Fiscal 2028	0
Thereafter	230,000
Gross Amount	367,762
Senior Notes \| 2029 Convertible Notes
Debt Instrument [Line Items]
Remaining 2024	0
Fiscal 2025	0
Fiscal 2026	0
Fiscal 2027	0
Fiscal 2028	0
Thereafter	230,000
Gross Amount	230,000
Senior Notes \| 2025 Convertible Notes
Debt Instrument [Line Items]
Remaining 2024	0
Fiscal 2025	103,373
Fiscal 2026	0
Fiscal 2027	0
Fiscal 2028	0
Thereafter	0
Gross Amount	103,373
Senior Notes \| 2024 Convertible Notes
Debt Instrument [Line Items]
Remaining 2024	34,389
Fiscal 2025	0
Fiscal 2026	0
Fiscal 2027	0
Fiscal 2028	0
Thereafter	0
Gross Amount	$ 34,389

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Sep. 30, 2022		56,425
Beginning balance at Sep. 30, 2022	$ 692,231	$ 564	$ 345,330	$ 402,006	$ (55,669)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation	1,886		1,886
Release of restricted stock, net of shares withheld for taxes (in shares)		235
Release of restricted stock, net of shares withheld for taxes	2	$ 2
Taxes paid related to net share settlement of equity awards	(1,138)		(1,138)
Foreign currency translation gain	2,504				2,504
Purchase and retirement of treasury stock (in shares)		(822)
Purchase and retirement of treasury stock	(7,027)	$ (7)	(3,165)	(3,855)
Net income	16,778			16,778
Transfer of equity consideration for acquisition (in shares)		10
Transfer of equity consideration for acquisition	99		99
Ending balance (in shares) at Dec. 31, 2022		55,848
Ending balance at Dec. 31, 2022	705,335	$ 559	343,012	414,929	(53,165)
Beginning balance (in shares) at Sep. 30, 2023		54,840
Beginning balance at Sep. 30, 2023	745,768	$ 549	346,181	431,140	(32,102)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation	2,264		2,264
Release of restricted stock, net of shares withheld for taxes (in shares)		758
Release of restricted stock, net of shares withheld for taxes	8	$ 8
Taxes paid related to net share settlement of equity awards	(3,253)		(3,253)
Foreign currency translation gain	4,633				4,633
Purchase and retirement of treasury stock (in shares)		(355)
Purchase and retirement of treasury stock	(3,007)	$ (4)	(1,322)	(1,681)
Net income	28,470			28,470
Ending balance (in shares) at Dec. 31, 2023		55,243
Ending balance at Dec. 31, 2023	$ 774,883	$ 553	$ 343,870	$ 457,929	$ (27,469)

Debt - Convertible Senior Notes Due 2025 (Details)	May 14, 2018 USD ($) day $ / shares	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Amount outstanding \| $		$ 367,762,000	$ 367,762,000	$ 367,762,000
Senior Notes
Debt Instrument [Line Items]
Amount outstanding \| $		367,762,000
2025 Convertible Notes \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate	2.375%
Principle amount \| $	$ 172,500,000
Amount outstanding \| $		$ 103,373,000
Effective interest rate		2.88%
Conversion rate per $1,000 principal amount	0.0628931
Conversion price, per share (in dollars per share) \| $ / shares	$ 15.90
2025 Convertible Notes \| Senior Notes \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Threshold consecutive trading days	30
Threshold percentage of stock price trigger	130.00%
Repurchase price, percent of principal amount	100.00%
2025 Convertible Notes \| Senior Notes \| Debt Conversion, Condition One
Debt Instrument [Line Items]
Threshold trading days (whether or not consecutive)	20
Threshold consecutive trading days	30
Threshold percentage of stock price trigger	130.00%
2025 Convertible Notes \| Senior Notes \| Debt Conversion, Condition Two
Debt Instrument [Line Items]
Threshold consecutive trading days	5
Threshold percentage of stock price trigger	98.00%
Business day threshold	5

Goodwill (Tables)

3 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table summarizes the changes in the carrying amount of goodwill by segment and in total:


	Three Months Ended December 31, 2023
(in thousands)	U.S. Pawn		Latin America Pawn		Consolidated

Balances as of September 30, 2023	$	255,942	$	46,430	$	302,372
Acquisitions (a)	416		—		416


Effect of foreign currency translation changes	—		1,011		1,011
Balances as of December 31, 2023	$	256,358	$	47,441	$	303,799

(a) Amount represents goodwill recognized in connection with an immaterial acquisition within the U.S. Pawn segment and we have therefore omitted certain disclosures.


	Three Months Ended December 31, 2022
(in thousands)	U.S. Pawn		Latin America Pawn		Consolidated

Balances as of September 30, 2022	$	245,503	$	41,325	$	286,828
Acquisitions (b)	9,413		—		9,413

Effect of foreign currency translation changes	—		1,120		1,120

Balances as of December 31, 2022	$	254,916	$	42,445	$	297,361

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment, tax	$ (57)	$ (396)

Leases - Operating And Financing Lease Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Operating Leases
Remaining 2024	$ 57,570
Fiscal 2025	69,671
Fiscal 2026	58,523
Fiscal 2027	44,089
Fiscal 2028	28,904
Thereafter	42,810
Total lease liabilities	301,567
Less: portion representing imputed interest	55,112
Total net lease liabilities	246,455
Less: current portion	57,980	$ 57,182	$ 52,799
Total long term net lease liabilities	188,475	193,187	188,730
Financing Leases
Remaining 2024	597
Fiscal 2025	790
Fiscal 2026	790
Fiscal 2027	486
Fiscal 2028	8
Thereafter	0
Total lease liabilities	2,671
Less: portion representing imputed interest	455
Total net lease liabilities	2,216
Less: current portion	572	530	121
Total long term net lease liabilities	$ 1,644	$ 1,715	$ 447

Common Stock and Stock Compensation - Additional Information (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended		20 Months Ended
	May 03, 2022	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock repurchased and retired (in shares)		578,703
Common stock repurchased and retired			$ 3,007	$ 7,027
Purchase and retirement of treasury stock		$ 5,000	$ 3,007	$ 7,027
Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, amount authorized	$ 50,000
Stock repurchase program, period (in years)	3 years
Common stock repurchased and retired (in shares)			354,882	243,062	1,981,927
Common stock repurchased and retired			$ 3,000	$ 2,000	$ 17,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 2
-Subparagraph (c)(2)(iii)
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Common Stock and Stock Compensation

3 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Common Stock and Stock Compensation

NOTE 8: COMMON STOCK AND STOCK COMPENSATION

Common Stock Repurchase Program

On May 3, 2022, the Company’s Board of Directors (the “Board”) authorized the repurchase of up to $50 million of our Class A Common Stock over three years (the “Common Stock Repurchase Program”). Execution of the program will be responsive to fluctuating market conditions and valuations, liquidity needs and the expected return on investment compared to other opportunities.

The amount and timing of purchases will be dependent on a variety of factors, including stock price, trading volume, general market conditions, legal and regulatory requirements, general business conditions, the level of cash flows, and corporate considerations determined by management and the Board, such as liquidity and capital needs and the availability of attractive alternative investment opportunities. The Board of Directors has reserved the right to modify, suspend or terminate the program at any time. As of December 31, 2023, we had repurchased and retired 1,981,927 shares of our Class A Common Stock for $17.0 million under the Common Stock Repurchase Program, of which 354,882 shares were repurchased and retired for $3.0 million during the quarter ended December 31, 2023. During the quarter ended December 31, 2022, 243,062 shares were repurchased and retired for $2.0 million under the Common Stock Repurchase Program. The repurchase amount is allocated between “Additional paid-in capital” and “Retained earnings” in our condensed consolidated balance sheets.

Other Common Stock Repurchases

During December 2022, the Company used approximately $5.0 million of the net proceeds from the 2029 Convertible Notes offering to repurchase for cash 578,703 shares of its Class A common stock from purchasers of the notes in privately negotiated transactions. Such transactions were authorized separately from, and not considered a part of, the publicly announced share repurchase program discussed above. The repurchase amount is allocated between “Additional paid-in capital” and “Retained earnings” in our condensed consolidated balance sheets.

Stock Compensation

We maintain a Board-approved incentive plan to retain the services of our valued officers, directors and employees and to incentivize such persons to make contributions to our company and motivate excellent performance (the “Incentive Plan”). Under the Incentive Plan, we grant awards of restricted stock or restricted stock units to employees and non-employee directors. Awards granted to employees are typically subject to performance and service conditions. Awards granted to non-employee directors are time-based awards subject only to service conditions. Awards granted under the Incentive Plan are measured at the grant date fair value with compensation costs associated with the awards recognized over the requisite service period, usually the vesting period, on a straight-line basis.

The following table presents a summary of stock compensation activity:


	Shares	Weighted Average Grant Date Fair Value

Outstanding as of September 30, 2023	2,555,899	$	6.80
Granted (a)	1,349,752	7.39
Released (b)	(1,135,138)	4.96
Cancelled	(32,566)	6.96
Outstanding as of December 31, 2023	2,737,947	$	7.85

(a) Includes performance adjustment of 353,993 shares awarded above their target grants resulting from the achievement of performance targets established at the grant date.

(b) 377,231 shares were withheld to satisfy related income tax withholding.

Common Stock and Stock Compensation - Restricted Stock Award Activity (Details) - Restricted stock	3 Months Ended
	Dec. 31, 2023 $ / shares shares
Shares
Outstanding, beginning balance (in shares)	2,555,899
Granted (in shares)	1,349,752
Released (in shares)	(1,135,138)
Cancelled (in shares)	(32,566)
Outstanding, ending balance (in shares)	2,737,947
Weighted Average Grant Date Fair Value
Outstanding, beginning balance (in dollars per share) \| $ / shares	$ 6.80
Granted (in dollars per share) \| $ / shares	7.39
Released (in dollars per share) \| $ / shares	4.96
Cancelled (in dollars per share) \| $ / shares	6.96
Outstanding, ending balance (in dollars per share) \| $ / shares	$ 7.85
Performance adjustment (in shares)	353,993
Number of shares withheld to satisfy related federal income tax withholding (in shares)	377,231

Fair Value Measurements (Tables)

3 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Financial Assets, Temporary Equity, and Liabilities Not Measured at Fair Value in the Consolidated Balance Sheet

The tables below present our estimates of fair value of financial assets and liabilities that were not measured at fair value:


	Carrying Value		Estimated Fair Value
	December 31, 2023		December 31, 2023		Fair Value Measurement Using
(in thousands)					Level 1		Level 2		Level 3

Financial assets:
Promissory note receivable due April 2024	$	1,259	$	1,259	$	—	$	—	$	1,259
Promissory note receivable from Founders	17,073		17,073		—		—		17,073

Investments in unconsolidated affiliates	10,125		39,528		39,528		—		—
Financial liabilities:
2024 Convertible Notes	$	34,307	$	34,733	$	—	$	34,733	$	—
2025 Convertible Notes	102,695		94,173		—		94,173		—
2029 Convertible Notes	223,528		236,900		—		236,900		—


	Carrying Value		Estimated Fair Value
	December 31, 2022		December 31, 2022		Fair Value Measurement Using
(in thousands)					Level 1		Level 2		Level 3

Financial assets:
Promissory note receivable due April 2024	$	1,224	$	1,224	$	—	$	—	$	1,224
Promissory note receivable from Founders	15,100		15,100		—		—		15,100

Investments in unconsolidated affiliates	37,789		43,497		43,497		—		—
Financial liabilities:
2024 Convertible Notes	$	34,143	$	35,851	$	—	$	35,851	$	—
2025 Convertible Notes	102,192		89,883		—		89,883		—
2029 Convertible Notes	222,649		225,975		—		225,975		—


	Carrying Value		Estimated Fair Value
	September 30, 2023		September 30, 2023		Fair Value Measurement Using
(in thousands)					Level 1		Level 2		Level 3

Financial assets:
Promissory note receivable due April 2024	$	1,251	$	1,251	$	—	$	—	$	1,251
Promissory note receivable from Founders	16,500		16,500		—		—		16,500
Investments in unconsolidated affiliates	10,987		35,998		35,998		—		—

Financial liabilities:
2024 Convertible Notes	$	34,265	$	35,765	$	—	$	35,765	$	—
2025 Convertible Notes	102,563		96,137		—		96,137		—
2029 Convertible Notes	223,284		224,112		—		224,112		—

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating lease cost:
Operating lease cost	$ 19,066	$ 17,495
Variable lease cost	4,215	3,852
Total operating lease cost	23,281	21,347
Financing lease cost:
Amortization of financing lease assets	151	19
Interest on financing lease liabilities	65	11
Total financing lease cost	216	30
Total lease cost	23,497	21,377
Sublease income	$ 1,100	$ 800
Weighted-average remaining lease term (years):
Operating leases	4 years 10 months 9 days	5 years 2 months 15 days
Financing leases	3 years 5 months 1 day	4 years 10 days
Weighted-average discount rate:
Operating leases	8.53%	8.36%
Financing leases	11.14%	11.14%

Leases (Tables)

3 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Lessee Assets and Liabilities

The table below presents balances of our lease assets and liabilities and their balance sheet locations for both operating and financing leases:


(in thousands)	Balance Sheet Location	December 31, 2023		December 31, 2022		September 30, 2023
Lease assets:
Operating lease right-of-use assets	Right-of-use assets, net	$	231,103	$	229,991	$	234,388
Financing lease assets	Other assets	2,124		563		2,178
Total lease assets		$	233,227	$	230,554	$	236,566




Lease liabilities:
Current:
Operating lease liabilities	Operating lease liabilities, current	$	57,980	$	52,799	$	57,182
Financing lease liabilities	Accounts payable, accrued expenses and other current liabilities	572		121		530
Total current lease liabilities		$	58,552	$	52,920	$	57,712

Non-current:
Operating lease liabilities	Operating lease liabilities	$	188,475	$	188,730	$	193,187
Financing lease liabilities	Other long-term liabilities	1,644		447		1,715
Total non-current lease liabilities		$	190,119	$	189,177	$	194,902
Total lease liabilities		$	248,671	$	242,097	$	252,614

Schedule of Lease Cost

The table below provides major components of our lease costs:


	Three Months Ended December 31,
(in thousands)	2023		2022

Operating lease cost:
Operating lease cost *	$	19,066	$	17,495
Variable lease cost	4,215		3,852
Total operating lease cost	$	23,281	$	21,347

Financing lease cost:
Amortization of financing lease assets	$	151	$	19
Interest on financing lease liabilities	65		11
Total financing lease cost	$	216	$	30
Total lease cost	$	23,497	$	21,377

* Includes a reduction for sublease rental income of $1.1 million and $0.8 million for the three months ended December 31, 2023 and 2022, respectively.

The weighted-average term and discount rates for leases are as follows:


	Three Months Ended December 31,
	2023		2022

Weighted-average remaining lease term (years):
Operating leases	4.86		5.21
Financing leases	3.42		4.03

Weighted-average discount rate:
Operating leases	8.53	%	8.36	%
Financing leases	11.14	%	11.14	%

Schedule of Operating Lease Maturity

As of December 31, 2023, maturities of lease liabilities under ASC 842 by fiscal year were as follows:


(in thousands)	Operating Leases		Financing Leases
Remaining 2024	$	57,570	$	597
Fiscal 2025	69,671		790
Fiscal 2026	58,523		790
Fiscal 2027	44,089		486
Fiscal 2028	28,904		8
Thereafter	42,810		—
Total lease liabilities	$	301,567	$	2,671
Less: portion representing imputed interest	55,112		455
Total net lease liabilities	$	246,455	$	2,216
Less: current portion	57,980		572
Total long term net lease liabilities	$	188,475	$	1,644

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net (loss) profit	$ 28,470	$ 16,778

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Strategic Investments (Tables)

3 Months Ended

Dec. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Method Investments

The following tables present summary financial information for Cash Converters most recently reported results at June 30, 2023 after translation to U.S. dollars:


	June 30,
(in thousands)	2023		2022

Current assets	$	189,563	$	158,987
Non-current assets	103,595		170,798
Total assets	$	293,158	$	329,785

Current liabilities	$	97,630	$	59,256
Non-current liabilities	58,777		53,045
Shareholders’ equity	136,751		217,484
Total liabilities and shareholders’ equity	$	293,158	$	329,785


	Full-Year Ended June 30,
(in thousands)	2023		2022

Gross revenues	$	203,608	$	178,215
Gross profit	$	125,709	$	116,106
Net (loss) profit	$	(65,351)	$	8,099

Earnings per Share

3 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Earnings per Share

NOTE 3: EARNINGS PER SHARE

The following table reconciles the number of common shares used to compute basic and diluted earnings per share attributable to EZCORP Inc., shareholders:


	Three Months Ended December 31,
(in thousands, except per share amounts)	2023		2022

Basic earnings per common share:
Net income - basic	$	28,470	$	16,778
Weighted shares outstanding - basic	55,076		56,308
Basic earnings per common share	$	0.52	$	0.30

Diluted earnings per common share:
Net income - basic	$	28,470	$	16,778
Add: Convertible Notes interest expense, net of tax*	2,659		4,540



Net income - diluted	$	31,129	$	21,318
Weighted shares outstanding - basic	55,076		56,308
Equity-based compensation awards - effect of dilution**	1,318		1,118
Convertible Notes - effect of dilution***	30,418		26,353



Weighted shares outstanding - diluted	86,812		83,779
Diluted earnings per common share	$	0.36	$	0.25

Potential common shares excluded from the calculation of diluted earnings per common share above:





Restricted stock****	1,581		1,552

** Includes time-based share-based awards and performance based awards for which targets for fiscal year tranches have been achieved and vesting is subject only to achievement of service conditions.

*** See Note 7: Debt for conversion price and initial conversion rate of the 2024 Convertible Notes, 2025 Convertible Notes, and 2029 Convertible Notes.

Segment Information - Reconciliation of Segment Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Pawn loans	$ 243,252	$ 245,766	$ 209,855
Pawn service charges receivable, net	40,002	38,885	34,921
Inventory, net	164,927	166,477	156,064
Total assets	1,481,193	1,467,711	1,402,315
Operating Segments \| U.S. Pawn
Segment Reporting Information [Line Items]
Pawn loans	190,766	190,624	166,886
Pawn service charges receivable, net	35,707	34,318	31,064
Inventory, net	127,008	128,901	117,994
Total assets	1,004,075	984,539	900,211
Operating Segments \| Latin America Pawn
Segment Reporting Information [Line Items]
Pawn loans	52,486	55,142	42,969
Pawn service charges receivable, net	4,295	4,567	3,857
Inventory, net	37,919	37,576	38,070
Total assets	323,209	313,164	272,153
Operating Segments \| Other Investments
Segment Reporting Information [Line Items]
Pawn loans	0	0	0
Pawn service charges receivable, net	0	0	0
Inventory, net	0	0	0
Total assets	78,419	63,707	77,009
Corporate Items
Segment Reporting Information [Line Items]
Pawn loans	0	0	0
Pawn service charges receivable, net	0	0	0
Inventory, net	0	0	0
Total assets	$ 75,490	$ 106,301	$ 152,942

Debt

3 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Debt

NOTE 7: DEBT

The following table presents the Company's debt instruments outstanding:


	December 31, 2023						December 31, 2022						September 30, 2023
(in thousands)	Gross Amount		Debt Issuance Costs		Carrying Amount		Gross Amount		Debt Issuance Costs		Carrying Amount		Gross Amount		Debt Issuance Costs		Carrying Amount

2029 Convertible Notes	$	230,000	$	(6,472)	$	223,528	$	230,000	$	(7,351)	$	222,649	$	230,000	$	(6,716)	$	223,284
2025 Convertible Notes	103,373		(678)		102,695		103,373		(1,181)		102,192		103,373		(810)		102,563
2024 Convertible Notes	34,389		(82)		34,307		34,389		(246)		34,143		34,389		(124)		34,265

Total	$	367,762	$	(7,232)	$	360,530	$	367,762	$	(8,778)	$	358,984	$	367,762	$	(7,650)	$	360,112
Less current portion	34,389		(82)		34,307		—		—		—		34,389		(124)		34,265
Total long-term debt	$	333,373	$	(7,150)	$	326,223	$	367,762	$	(8,778)	$	358,984	$	333,373	$	(7,526)	$	325,847

The following table presents the Company’s contractual maturities related to the debt instruments as of December 31, 2023:


	Schedule of Contractual Maturities
(in thousands)	2029 Convertible Notes		2025 Convertible Notes		2024 Convertible Notes		Total

Remaining 2024	$	—	$	—	$	34,389	$	34,389
Fiscal 2025	—		103,373		—		103,373
Fiscal 2026	—		—		—		—
Fiscal 2027	—		—		—		—
Fiscal 2028	—		—		—		—
Thereafter	230,000		—		—		230,000
Total long-term debt	$	230,000	$	103,373	$	34,389	$	367,762

The following table presents the Company’s interest expense related to the Convertible Notes for the three months ended December 31, 2023 and 2022:


	Three Months Ended December 31,
(in thousands)	2023		2022

2029 Convertible Notes:
Contractual interest expense	$	2,156	$	431
Amortization of deferred financing costs	244		52

Total interest expense	$	2,400	$	483

2025 Convertible Notes:
Contractual interest expense	$	614	$	942
Amortization of deferred financing costs	131		188
Gain on extinguishment	—		(5,389)
Total interest expense	$	745	$	(4,259)

2024 Convertible Notes:
Contractual interest expense	$	247	$	876
Amortization of deferred financing costs	42		138
Loss on extinguishment	—		8,935
Total interest expense	$	289	$	9,949

3.750% Convertible Senior Notes Due 2029

In December 2022, we issued $230.0 million aggregate principal amount of 3.750% Convertible Senior Notes Due 2029 (the “2029 Convertible Notes”), for which $230.0 million remains outstanding as of December 31, 2023. The 2029 Convertible Notes were issued pursuant to an indenture dated December 12, 2022 (the “2022 Indenture”) by and between the Company and Truist Bank, as trustee. The 2029 Convertible Notes were issued in a private offering under Rule 144A under the Securities Act of 1933. The 2029 Convertible Notes pay interest semi-annually in arrears at a rate of 3.750% per annum on June 15 and December 15 of each year, commencing June 15, 2023, and mature on December 15, 2029 (the “2029 Maturity Date”), unless converted, redeemed or repurchased in accordance with the terms prior to such date. At maturity, the holders of the 2029 Convertible Notes will be entitled to receive cash equal to the principal of the 2029 Convertible Notes plus accrued interest.

The effective interest rate for the three months ended December 31, 2023 was approximately 4.28%. As of December 31, 2023, the remaining unamortized debt issuance costs will be amortized using the effective interest method through the 2029 Maturity Date assuming no early conversion.

The 2029 Convertible Notes are convertible based on an initial conversion rate of 89.0313 shares of Class A Common Stock per $1,000 principal amount (equivalent to an initial conversion price of $11.23 per share). The conversion rate will not be adjusted for any accrued and unpaid interest. The 2029 Convertible Notes contain certain make-whole fundamental change premiums and customary anti-dilution adjustments. Upon conversion, we may settle in cash, shares of Class A Common Stock or any combination thereof, at our election.

Prior to June 15, 2029, the 2029 Convertible Notes will be convertible only under the following circumstances: (1) during any fiscal quarter commencing after the fiscal quarter ending on March 31, 2023 (and only during such fiscal quarter), if the last reported sale price of our Class A Common Stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the “measurement period”) in which the trading price, as defined in the 2022 Indenture, per $1,000 principal amount of notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of our Class A Common Stock and the conversion rate on such trading day; (3) if we call any or all of the 2029 Convertible Notes for redemption, at any time prior to the close of business on the business day immediately preceding the redemption date; or (4) upon the occurrence of specified corporate events, as defined in the 2022 Indenture. On or after June 15, 2029 until the close of business on the business day immediately preceding the 2029 Maturity Date, holders of 2029 Convertible Notes may, at their option, convert their 2029 Convertible Notes at any time, regardless of the foregoing circumstances.

We may not redeem the Notes prior to December 21, 2026. At our option, we may redeem for cash all or any portion of the 2029 Convertible Notes on or after December 21, 2026, if the last reported sale price of the Class A Common Stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive), including the trading day immediately preceding the date on which we provide notice of redemption, during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which we provide notice of redemption. The redemption price will be equal to 100% of the principal amount of the 2029 Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.

The stock trading price condition and other triggers are measured on a quarter-by-quarter basis and were not met as of December 31, 2023. As of December 31, 2023, the if-converted value of the 2029 Convertible Notes did not exceed the principal amount.

Note Repurchases

In December 2022, the Company repurchased approximately $109.4 million aggregate principal amount of 2.875% Convertible Senior Notes Due 2024 for approximately $117.5 million plus accrued interest and approximately $69.1 million aggregate principal amount of 2.375% Convertible Senior Notes Due 2025 for approximately $62.9 million plus accrued interest and recognized a $3.5 million loss on extinguishment of debt recorded to “Interest expense” in the Company’s condensed consolidated statement of operations for the three months ended December 31, 2022.

2.375% 2025 Convertible Senior Notes Due 2025

In May 2018, we issued $172.5 million aggregate principal amount of 2.375% Convertible Senior Notes Due 2025 (the “2025 Convertible Notes”), for which $103.4 million remains outstanding as of December 31, 2023. The 2025 Convertible Notes were issued pursuant to an indenture dated May 14, 2018 (the “2018 Indenture”) by and between the Company and Wells Fargo Bank, National Association, as the original trustee. Effective October 1, 2019, Truist (formerly BB&T) assumed the duties and responsibilities as trustee under the 2018 Indenture. The 2025 Convertible Notes were issued in a private offering under Rule 144A under the Securities Act of 1933. The 2025 Convertible Notes pay interest semi-annually in arrears at a rate of 2.375% per annum on May 1 and November 1 of each year, commencing November 1, 2018, and mature on May 1, 2025 (the “2025 Maturity Date”), unless converted, redeemed or repurchased in accordance with the terms prior to such date.

The effective interest rate for the three months ended December 31, 2023 was approximately 2.88% for the 2025 Convertible Notes. As of December 31, 2023, the remaining unamortized debt issuance costs will be amortized using the effective interest method through the 2025 Maturity Date assuming no early conversion.

The 2025 Convertible Notes are convertible based on an initial conversion rate of 62.8931 shares of Class A Common Stock per $1,000 principal amount (equivalent to an initial conversion price of $15.90 per share). The conversion rate will not be adjusted for any accrued and unpaid interest. The 2025 Convertible Notes contain certain make-whole fundamental change premiums and customary anti-dilution adjustments. Upon conversion, we may settle in cash, shares of Class A Common Stock or any combination thereof, at our election.

Prior to November 1, 2024, the 2025 Convertible Notes are convertible only under the following circumstances: (1) during any fiscal quarter commencing after the fiscal quarter ended on June 30, 2018 (and only during such fiscal quarter), if the last reported sale price of our Class A Common Stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the “measurement period”) in which the trading price, as defined in the 2018 Indenture, per $1,000 principal amount of notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of our Class A Common Stock and the conversion rate on such trading day; (3) if we call any or all of the 2025 Convertible Notes for redemption, at any time prior to the close of business on the business day immediately preceding the redemption date; or (4) upon the occurrence of specified corporate events, as defined in the 2018 Indenture. On or after November 1, 2024 until the close of business on the business day immediately preceding the 2025 Maturity Date, holders of 2025 Convertible Notes may, at their option, convert their 2025 Convertible Notes at any time, regardless of the foregoing circumstances.

At our option, we may redeem for cash all or any portion of the 2025 Convertible Notes on or after May 1, 2022, if the last reported sale price of the Class A Common Stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive), including the trading day immediately preceding the date on which we provide notice of redemption, during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which we provide notice of redemption. The redemption price will be equal to 100% of the principal amount of the 2025 Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.

The stock trading price condition and other triggers are measured on a quarter-by-quarter basis and were not met as of December 31, 2023. As of December 31, 2023, the if-converted value of the 2025 Convertible Notes did not exceed the principal amount.

2.875% Convertible Senior Notes Due 2024

In July 2017, we issued $143.75 million aggregate principal amount of 2.875% Convertible Senior Notes Due 2024 (the “2024 Convertible Notes”), for which $34.4 million remains outstanding as of December 31, 2023. The 2024 Convertible Notes were issued pursuant to an indenture dated July 5, 2017 (the “2017 Indenture”) by and between the Company and Wells Fargo Bank, National Association, as the original trustee. Effective October 1, 2019, Truist (formerly BB&T) assumed the duties and responsibilities as trustee under the 2017 Indenture. The 2024 Convertible Notes were issued in a private offering under Rule 144A under the Securities Act of 1933. The 2024 Convertible Notes pay interest semi-annually in arrears at a rate of 2.875% per annum on January 1 and July 1 of each year, commencing January 1, 2018, and mature on July 1, 2024 (the “2024 Maturity Date”), unless converted, redeemed or repurchased in accordance with the terms prior to such date. At maturity, the holders of the 2024 Convertible Notes will be entitled to receive cash equal to the principal of the 2024 Convertible Notes plus accrued interest.

The effective interest rate for the three months ended December 31, 2023 was approximately 3.35%. As of December 31, 2023, the remaining unamortized debt issuance costs will be amortized using the effective interest method through the 2024 Maturity Date assuming no early conversion.

The 2024 Convertible Notes are convertible based on an initial conversion rate of 100 shares of Class A Common Stock per $1,000 principal amount (equivalent to an initial conversion price of $10.00 per share). The conversion rate will not be adjusted for any accrued and unpaid interest. The 2024 Convertible Notes contain certain make-whole fundamental change premiums and customary anti-dilution adjustments. Upon conversion, we may settle in cash, shares of Class A Common Stock or any combination thereof, at our election.

Prior to January 1, 2024, the 2024 Convertible Notes would have been convertible only under the following circumstances: (1) during any fiscal quarter commencing after the fiscal quarter ending on September 30, 2017 (and only during such fiscal quarter), if the last reported sale price of our Class A Common Stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding fiscal quarter was greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the “measurement period”) in which the trading price, as defined in the 2017 Indenture, per $1,000 principal amount of notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of our Class A Common Stock and the conversion rate on such trading day; (3) if we had called any or all of the 2024 Convertible Notes for redemption, at any time prior to the close of business on the business day immediately preceding the redemption date; or (4) upon the occurrence of specified corporate events, as defined in the 2017 Indenture. From January 1, 2024 until the close of business on the business day immediately preceding the 2024 Maturity Date, holders of 2024 Convertible Notes may, at their option, convert their 2024 Convertible Notes at any time, regardless of the foregoing circumstances.

At our option, we may redeem for cash all or any portion of the 2024 Convertible Notes on or after July 6, 2021, if the last reported sale price of the Class A Common Stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive), including the trading day immediately preceding the date on which we provide notice of redemption, during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which we provide notice of redemption. The redemption price will be equal to 100% of the principal amount of the 2024 Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.

The stock trading price condition and other triggers are measured on a quarter-by-quarter basis and were not met as of December 31, 2023. As of December 31, 2023, the if-converted value of the 2024 Convertible Notes did not exceed the principal amount.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Leases

3 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

NOTE 4: LEASES

We determine if a contract contains a lease at inception. Our lease portfolio consists primarily of operating leases for pawn store locations and corporate offices with lease terms ranging from three to ten years and finance leases for vehicles with lease terms ranging from two to five years.

The table below presents balances of our lease assets and liabilities and their balance sheet locations for both operating and financing leases:


(in thousands)	Balance Sheet Location	December 31, 2023		December 31, 2022		September 30, 2023
Lease assets:
Operating lease right-of-use assets	Right-of-use assets, net	$	231,103	$	229,991	$	234,388
Financing lease assets	Other assets	2,124		563		2,178
Total lease assets		$	233,227	$	230,554	$	236,566




Lease liabilities:
Current:
Operating lease liabilities	Operating lease liabilities, current	$	57,980	$	52,799	$	57,182
Financing lease liabilities	Accounts payable, accrued expenses and other current liabilities	572		121		530
Total current lease liabilities		$	58,552	$	52,920	$	57,712

Non-current:
Operating lease liabilities	Operating lease liabilities	$	188,475	$	188,730	$	193,187
Financing lease liabilities	Other long-term liabilities	1,644		447		1,715
Total non-current lease liabilities		$	190,119	$	189,177	$	194,902
Total lease liabilities		$	248,671	$	242,097	$	252,614

The table below provides major components of our lease costs:


	Three Months Ended December 31,
(in thousands)	2023		2022

Operating lease cost:
Operating lease cost *	$	19,066	$	17,495
Variable lease cost	4,215		3,852
Total operating lease cost	$	23,281	$	21,347

Financing lease cost:
Amortization of financing lease assets	$	151	$	19
Interest on financing lease liabilities	65		11
Total financing lease cost	$	216	$	30
Total lease cost	$	23,497	$	21,377

* Includes a reduction for sublease rental income of $1.1 million and $0.8 million for the three months ended December 31, 2023 and 2022, respectively.

Lease expense is recognized on a straight-line basis over the lease term with variable lease expense recognized in the period in which the costs are incurred. The components of lease expense are included in “Store” and “General and Administrative” expense, based on the underlying lease use. Cash paid for operating leases was $20.3 million and $21.4 million for the three months ended December 31, 2023 and 2022, respectively. Cash paid for principal and interest on finance leases was $0.1 million and $0.1 million, respectively, for the three months ended December 31, 2023. There was no cash paid for principal and interest on finance leases during the three months ended December 31, 2022.

The weighted-average term and discount rates for leases are as follows:


	Three Months Ended December 31,
	2023		2022

Weighted-average remaining lease term (years):
Operating leases	4.86		5.21
Financing leases	3.42		4.03

Weighted-average discount rate:
Operating leases	8.53	%	8.36	%
Financing leases	11.14	%	11.14	%

As of December 31, 2023, maturities of lease liabilities under ASC 842 by fiscal year were as follows:


(in thousands)	Operating Leases		Financing Leases
Remaining 2024	$	57,570	$	597
Fiscal 2025	69,671		790
Fiscal 2026	58,523		790
Fiscal 2027	44,089		486
Fiscal 2028	28,904		8
Thereafter	42,810		—
Total lease liabilities	$	301,567	$	2,671
Less: portion representing imputed interest	55,112		455
Total net lease liabilities	$	246,455	$	2,216
Less: current portion	57,980		572
Total long term net lease liabilities	$	188,475	$	1,644

We recorded $9.3 million and $20.5 million in non-cash additions to our operating right-of-use assets and lease liabilities for the three months ended December 31, 2023 and 2022, respectively. We recorded $0.1 million and $0.4 million in non-cash finance lease additions for the three months ended December 31, 2023 and 2022, respectively.

Leases

NOTE 4: LEASES

The table below presents balances of our lease assets and liabilities and their balance sheet locations for both operating and financing leases:


(in thousands)	Balance Sheet Location	December 31, 2023		December 31, 2022		September 30, 2023
Lease assets:
Operating lease right-of-use assets	Right-of-use assets, net	$	231,103	$	229,991	$	234,388
Financing lease assets	Other assets	2,124		563		2,178
Total lease assets		$	233,227	$	230,554	$	236,566




Lease liabilities:
Current:
Operating lease liabilities	Operating lease liabilities, current	$	57,980	$	52,799	$	57,182
Financing lease liabilities	Accounts payable, accrued expenses and other current liabilities	572		121		530
Total current lease liabilities		$	58,552	$	52,920	$	57,712

Non-current:
Operating lease liabilities	Operating lease liabilities	$	188,475	$	188,730	$	193,187
Financing lease liabilities	Other long-term liabilities	1,644		447		1,715
Total non-current lease liabilities		$	190,119	$	189,177	$	194,902
Total lease liabilities		$	248,671	$	242,097	$	252,614

The table below provides major components of our lease costs:


	Three Months Ended December 31,
(in thousands)	2023		2022

Operating lease cost:
Operating lease cost *	$	19,066	$	17,495
Variable lease cost	4,215		3,852
Total operating lease cost	$	23,281	$	21,347

Financing lease cost:
Amortization of financing lease assets	$	151	$	19
Interest on financing lease liabilities	65		11
Total financing lease cost	$	216	$	30
Total lease cost	$	23,497	$	21,377

* Includes a reduction for sublease rental income of $1.1 million and $0.8 million for the three months ended December 31, 2023 and 2022, respectively.

The weighted-average term and discount rates for leases are as follows:


	Three Months Ended December 31,
	2023		2022

Weighted-average remaining lease term (years):
Operating leases	4.86		5.21
Financing leases	3.42		4.03

Weighted-average discount rate:
Operating leases	8.53	%	8.36	%
Financing leases	11.14	%	11.14	%

As of December 31, 2023, maturities of lease liabilities under ASC 842 by fiscal year were as follows:


(in thousands)	Operating Leases		Financing Leases
Remaining 2024	$	57,570	$	597
Fiscal 2025	69,671		790
Fiscal 2026	58,523		790
Fiscal 2027	44,089		486
Fiscal 2028	28,904		8
Thereafter	42,810		—
Total lease liabilities	$	301,567	$	2,671
Less: portion representing imputed interest	55,112		455
Total net lease liabilities	$	246,455	$	2,216
Less: current portion	57,980		572
Total long term net lease liabilities	$	188,475	$	1,644