0000876523-21-000007 | 10-Q | XBRL Viewer

Cover Page - shares	3 Months Ended
Cover Page - shares	Dec. 31, 2020	Jan. 31, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
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	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Entity Central Index Key	0000876523
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Common Stock Class A Non-voting
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		52,628,588
Common Stock Class B Voting
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,970,171
No Trading Symbol Class B

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 290,450	$ 304,542	$ 143,141
Restricted cash	8,011	8,011	0
Pawn loans	147,852	131,323	195,586
Pawn service charges receivable, net	24,825	20,580	32,250
Inventory, net	94,980	95,891	187,369
Notes receivable, net	0	0	7,450
Prepaid expenses and other current assets	32,824	32,903	36,142
Total current assets	598,942	593,250	601,938
Investments in unconsolidated affiliates	31,773	32,458	29,272
Property and equipment, net	55,204	56,986	65,246
Lease right-of-use asset	177,308	183,809	225,950
Goodwill	258,453	257,582	301,282
Intangible assets, net	58,794	58,638	68,995
Notes receivable, net	1,156	1,148	1,124
Deferred tax asset, net	10,000	8,931	2,123
Other assets	5,534	4,221	5,012
Total assets	1,197,164	1,197,023	1,300,942
Current liabilities:
Current maturities of long-term debt, net	213	213	215
Accounts payable, accrued expenses and other current liabilities	67,777	71,504	51,621
Customer layaway deposits	9,904	11,008	12,548
Lease liability	45,351	49,742	48,052
Total current liabilities	123,245	132,467	112,436
Long-term debt, net	254,322	251,016	241,209
Deferred tax liability, net	172	524	2,119
Lease liability	143,620	153,040	186,352
Other long-term liabilities	11,303	10,849	7,226
Total liabilities	532,662	547,896	549,342
Commitments and Contingencies (Note 11)
Stockholders’ equity:
Additional paid-in capital	398,269	398,475	407,440
Retained earnings	322,468	318,169	389,928
Accumulated other comprehensive loss	(56,791)	(68,068)	(46,327)
Total equity	664,502	649,127	751,600
Total liabilities and equity	1,197,164	1,197,023	1,300,942
Common Stock Class A Non-voting
Stockholders’ equity:
Common stock	526	521	529
Common Stock Class B Voting
Stockholders’ equity:
Common stock	$ 30	$ 30	$ 30

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
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)	52,628,588	52,332,848	52,886,122
Common stock, shares outstanding (in shares)	52,628,588	52,332,848	52,886,122
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 - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Total revenues	$ 178,135	$ 222,435
Net revenues	108,390	130,069
Operating expenses:
Store expenses	79,309	89,275
General and administrative	12,510	18,839
Depreciation and amortization	7,572	7,733
(Gain) loss on sale or disposal of assets and other	(22)	744
Total operating expenses	99,369	116,591
Operating income	9,021	13,478
Interest expense	5,455	5,329
Interest income	(821)	(843)
Equity in net (income) loss of unconsolidated affiliates	(516)	5,897
Other (income) expense	(599)	98
Income before income taxes	5,502	2,997
Income tax expense	1,203	1,759
Net income	$ 4,299	$ 1,238
Basic earnings per share (in dollars per share)	$ 0.08	$ 0.02
Diluted earnings per share (in dollars per share)	$ 0.08	$ 0.02
Weighted-average basic shares outstanding (in shares)	55,361	55,666
Weighted-average diluted shares outstanding (in shares)	55,428	55,687
Merchandise
Revenues:
Total revenues	$ 107,783	$ 126,728
Cost of revenues	64,543	84,076
Jewelry scrapping
Revenues:
Total revenues	6,759	9,528
Cost of revenues	5,202	7,754
Pawn service charges
Revenues:
Total revenues	63,489	84,725
Other
Revenues:
Total revenues	104	1,454
Cost of revenues	$ 0	$ 536

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 4,299	$ 1,238
Other comprehensive income:
Foreign currency translation adjustment	11,277	6,071
Comprehensive income	$ 15,576	$ 7,309

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

Condensed Consolidated Statements of Stockholders' Equity - 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, 2019		55,535
Beginning Balance at Sep. 30, 2019	$ 744,949	$ 556	$ 407,628	$ 389,163	$ (52,398)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation	1,695		1,695
Release of restricted stock (in shares)		463
Release of restricted stock	5	$ 5
Taxes paid related to net share settlement of equity awards	(1,395)		(1,395)
Foreign currency translation gain	6,071				6,071
Purchase and retirement of treasury stock (in shares)		(142)
Purchase and retirement of treasury stock	(963)	$ (2)	(488)	(473)
Net income	1,238			1,238
Ending Balance (in shares) at Dec. 31, 2019		55,856
Ending Balance at Dec. 31, 2019	751,600	$ 559	407,440	389,928	(46,327)
Beginning Balance (in shares) at Sep. 30, 2019		55,535
Beginning Balance at Sep. 30, 2019	744,949	$ 556	407,628	389,163	(52,398)
Ending Balance (in shares) at Sep. 30, 2020		55,303
Ending Balance at Sep. 30, 2020	649,127	$ 551	398,475	318,169	(68,068)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation	524		524
Release of restricted stock (in shares)		296
Release of restricted stock	5	$ 5
Taxes paid related to net share settlement of equity awards	(730)		(730)
Foreign currency translation gain	11,277				11,277
Net income	4,299			4,299
Ending Balance (in shares) at Dec. 31, 2020		55,599
Ending Balance at Dec. 31, 2020	$ 664,502	$ 556	$ 398,269	$ 322,468	$ (56,791)

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating activities:
Net income	$ 4,299	$ 1,238
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	7,572	7,733
Amortization of debt discount and deferred financing costs	3,329	3,229
Amortization of lease right-of-use asset	11,504	11,474
Accretion of notes receivable discount and deferred compensation fee	0	(275)
Deferred income taxes	(1,421)	10
Impairment of goodwill and intangible assets	0	0
Other adjustments	(167)	1,298
Provision for inventory reserve	(1,510)	329
Stock compensation expense	524	1,695
Equity in net (income) loss of unconsolidated affiliates	(516)	5,897
Changes in operating assets and liabilities:
Service charges and fees receivable	(4,034)	(355)
Inventory	1,323	(1,921)
Prepaid expenses, other current assets and other assets	(713)	(9,649)
Accounts payable, accrued expenses and other liabilities	(23,460)	(29,966)
Customer layaway deposits	(1,311)	(467)
Income taxes	68	(1,188)
Net cash used in operating activities	(4,513)	(10,918)
Investing activities:
Loans made	(142,936)	(187,362)
Loans repaid	77,116	109,623
Recovery of pawn loan principal through sale of forfeited collateral	53,981	76,515
Capital expenditures, net	(3,223)	(5,574)
Net cash used in investing activities	(15,062)	(6,798)
Financing activities:
Taxes paid related to net share settlement of equity awards	(730)	(1,395)
Payout of deferred consideration	0	(175)
Proceeds from borrowings, net of issuance costs	0	(109)
Payments on borrowings	(53)	(292)
Repurchase of common stock	0	(963)
Net cash used in financing activities	(783)	(2,934)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	6,266	1,349
Net decrease in cash, cash equivalents and restricted cash	(14,092)	(19,301)
Cash, cash equivalents and restricted cash at beginning of period	312,553	162,442
Cash, cash equivalents and restricted cash at end of period	298,461	143,141
Supplemental disclosure of cash flow information
Total cash and cash equivalents and restricted cash	298,461	143,141
Non-cash investing and financing activities:
Pawn loans forfeited and transferred to inventory	$ 50,921	$ 82,878

Organization and Summary of Significant Accounting Policies	3 Months Ended
	Dec. 31, 2020
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 leading provider of pawn loans in the United States 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 generally accepted accounting principles 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 the Company’s Annual Report on Form 10-K for the year ended September 30, 2 020, filed with the SEC on December 14, 2020 (“2020 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, 2020 are not necessarily indicative of results that may be expected for the fiscal year ending September 30, 2021. Our business is subject to seasonal variations, and operating results for the three months ended December 31, 2020 and 2019 (the "current quarter" and "prior-year quarter," respectively) are not necessarily indicative of the results of operations for the full fiscal year. There have been no changes that have had a material impact in significant accounting policies as described in our Annual Report on Form 10-K for the year ended September 30, 20 20. 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. Reclassifications The Company has reclassified certain amounts in prior-period financial statements to conform to the current periods presentation. Use of Estimates 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 revenue recognition, 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. Actual results may result in actual amounts differing from reported amounts. Impact of COVID-19 The COVID-19 pandemic continues to affect the U.S. and global economies, and as previously disclosed in our 2020 Annual Report, the pandemic also affected our businesses in a variety of ways beginning in the second quarter of fiscal 2020 and continuing into fiscal 2021. We cannot estimate the length or severity of the COVID-19 pandemic or the related financial consequences on our business and operations, including whether and when historic economic and operating conditions will resume or the extent to which the disruption may impact our business, financial position, results of operations or cash flows. Our estimates, judgments and assumptions related to COVID-19 could ultimately differ over time. Recently Adopted Accounting Policies In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments — Credit Losses (Topic 326) (“ASU 2016-13”). ASU 2016-13 modifies the measurement of expected credit losses of certain financial instruments, requiring entities to estimate an expected lifetime credit loss on financial assets. The ASU amends the impairment model to utilize an expected loss methodology and replaces the incurred loss methodology for financial instruments including trade receivables. The amendment requires entities to consider other factors, such as historical loss experience, current conditions and reasonable and supportable forecasts. ASU 2016-13 was effective on October 1, 2020. We adopted ASU 2016-13 effective October 1, 2020 using the modified retrospective approach. There was no net cumulative effect adjustment to retained earnings as of October 1, 2020 as a result of this adoption. This amendment did not have a material impact on our balance sheets or cash flows from operations and did not have a significant impact on our operating results. Recently Issued Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, “Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity” (“ASU 2020-06”), which simplifies accounting for convertible instruments by removing major separation models required under current U.S. GAAP. ASU 2020-06 removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and it also simplifies the diluted earnings per share calculation in certain areas. ASU 2020-06 is effective for the Company for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020 and adoption must be as of the beginning of our annual fiscal year. We are currently evaluating the impact of this standard on our consolidated financial statements and related disclosures.

Expected Credit Losses	3 Months Ended
Expected Credit Losses	Dec. 31, 2020
Credit Loss [Abstract]
EXPECTED CREDIT LOSSES	NOTE 2: EXPECTED CREDIT LOSSES We adopted ASU 2016-13 effective October 1, 2020. The Company has financing receivables within the scope of ASU 2016-13, specifically pawn loans receivables and related pawn service charges receivables. Our pawn loans are short-term in nature, typically 30-120 days for U.S. Pawn loans and 30 days for Latin America Pawn loans. Under our existing accounting policy, if a pawn loan is deemed to be uncollectible, we do not recognize an allowance for doubtful accounts due to the expected recovery of the loan principal amount through the sale of the collateral. We record the forfeited collateral as inventory at the pawn loan principal amount. Pawn service charges are recorded under the interest method over the term of the related pawn loan. Under our existing accounting policy, we accrue for any earned but unpaid pawn service charges at the end each month. We then apply a reserve to pawn service charges receivable at the end of each month using a pawn loan forfeiture rate derived from a trailing twelve-month average, adjusted for seasonality factors. We have evaluated, on a collective basis, our pawn loans receivables and pawn service charges receivables and determined the new credit loss standard will not have a material impact on our consolidated financial statements, as our current polices appropriately capture lifetime expected credit losses. The presentation of pawn loans and pawn service charges receivable as separate line items on our consolidated balance sheet will remain unchanged under the new credit loss standard. As of December 31, 2020, pawn loans and related pawn service charges receivable, net were $147.9 million and $24.8 million, respectively.

Other Charges

3 Months Ended

Dec. 31, 2020

Restructuring and Related Activities [Abstract]

OTHER CHARGES

NOTE 3: OTHER CHARGES

During the fourth quarter of fiscal 2020, we began to implement strategic initiatives to refocus on our core pawn business and optimize our cost structure in order to improve our bottom line performance and position the Company for sustainable growth. The initiatives focused on workforce reductions, closure of our CASHMAX operations, store closures, write-offs and other miscellaneous charges. We recorded $20.4 million of such charges for the quarter ended September 30, 2020, and had accrued charges of $10.7 million remaining at September 30, 2020. We had no similar charges for the quarter ended December 31, 2020.


(in millions)		Accrued Charges at September 30, 2020		Charges		Payments and Adjustments		Accrued Charges at December 31, 2020
Cash charges:
	Labor reduction costs	$	5.9	$	—	$	(2.3)	$	3.6
	CASHMAX shutdown costs	0.8		—		(0.4)		0.4
	Store closure costs	1.8		—		(1.8)		—
	Other	2.2		—		(0.1)		2.1
		$	10.7	$	—	$	(4.6)	$	6.1

Earnings per Share

3 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 4: 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)	2020		2019



Net income	$	4,299	$	1,238

Earnings per common share
Average common share outstanding (denominator)	55,361		55,666


Earnings per common share	$	0.08	$	0.02

Diluted earnings per common share
Average common share outstanding	55,361		55,666
Dilutive effect of restricted stock and convertible notes*	67		21
Diluted average common shares outstanding (denominator)	55,428		55,687




Diluted earnings per common share	$	0.08	$	0.02

Potential common shares excluded from the calculation of diluted earnings per share above*:
Restricted stock**	657		2,216

* Includes time-based share-based awards and Convertible Notes. See Note 8 for discussion of the terms and conditions of the potential impact of the 2024 Convertible Notes and 2025 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.

Leases

3 Months Ended

Dec. 31, 2020

Leases [Abstract]

LEASES

NOTE 5: 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.

The information below provides a summary of our leasing activities. See Note 12 in our 2020 Annual Report for additional information about our leasing activities.

The table below presents balances of our operating leases:


(in thousands)	December 31, 2020		December 31, 2019		September 30, 2020

Right-of-use asset	$	177,308	$	225,950	$	183,809



Lease liability, current	$	45,351	$	48,052	$	49,742
Lease liability, non-current	143,620		186,352		153,040
Total lease liability	$	188,971	$	234,404	$	202,782

The table below provides the composition of our lease costs:


	Three Months Ended December 31,
(in thousands)	2020		2019

Operating lease expense	$	15,199	$	16,526
Variable lease expense	3,045		2,807

Total lease expense	$	18,244	$	19,333

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.

Other supplemental information includes the following for our operating leases:


	Three Months Ended December 31,
	2020		2019

Weighted-average remaining contractual lease term (years)	5.06		6.02
Weighted-average incremental borrowing rate	7.85	%	8.44	%

Maturities of lease liabilities as of December 31, 2020 were as follows (in thousands):


Remaining 2021	$	45,013
Fiscal 2022	52,541
Fiscal 2023	40,417
Fiscal 2024	29,425
Fiscal 2025	20,329
Thereafter	42,260
Total lease payments	$	229,985
Less: Portion representing interest	41,014
Present value of operating lease liabilities	$	188,971
Less: Current portion	45,351
Non-current portion	$	143,620

We recorded $1.6 million and $0.8 million in non-cash additions to our right of use assets and lease liabilities for the quarters ended December 31, 2020 and December 31, 2019, respectively.

Strategic Investments

3 Months Ended

Dec. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

STRATEGIC INVESTMENTS

NOTE 6: STRATEGIC INVESTMENTS

As of December 31, 2020, we owned 214,183,714 shares, or approximately 34.75%, of Cash Converters International Limited ("Cash Converters International"). The following tables present summary financial information for Cash Converters International’s most recently reported results at June 30, 2020 after translation to U.S. dollars:


	June 30,
(in thousands)	2020		2019

Current assets	$	157,183	$	173,826
Non-current assets	172,833		152,483
Total assets	$	330,016	$	326,309

Current liabilities	$	68,028	$	77,434
Non-current liabilities	51,275		26,163
Shareholders’ equity	210,713		222,712
Total liabilities and shareholders’ equity	$	330,016	$	326,309


	Fiscal Year Ended June 30,
(in thousands)	2020		2019

Gross revenues	$	187,025	$	201,365
Gross profit	112,511		111,932
Net loss	(7,032)		(1,210)

See Note 7 for the fair value and carrying value of our investment in Cash Converters International.

Fair Value Measurements

3 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

NOTE 7: 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.

Fair Value Measurement on a Recurring Basis

As of December 31, 2020 and September 30, 2020, we did not have any financial assets or liabilities measured at fair value on a recurring basis.

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, 2020		December 31, 2020		Fair Value Measurement Using
(in thousands)					Level 1		Level 2		Level 3

Financial assets:
2.89% promissory note receivable due April 2024	$	1,156	$	1,156	$	—	$	—	$	1,156
Investments in unconsolidated affiliates	31,773		44,716		37,039		—		7,677

Financial liabilities:
2024 Convertible Notes	$	118,736	$	134,838	$	—	$	134,838	$	—
2025 Convertible Notes	134,983		138,000		—		138,000		—
8.5% unsecured debt due 2024	816		816		—		—		816


	Carrying Value		Estimated Fair Value
	December 31, 2019		December 31, 2019		Fair Value Measurement Using
(in thousands)					Level 1		Level 2		Level 3

Financial assets:
Notes receivable from Grupo Finmart, net	$	7,450	$	7,729	$	—	$	—	$	7,729
2.89% promissory note receivable due April 2024	1,124		1,124		—		—		1,124
Investments in unconsolidated affiliates	29,272		42,460		34,555		—		7,905

Financial liabilities:
2024 Convertible Notes	$	112,740	$	136,634	$	—	$	136,634	$	—
2025 Convertible Notes	127,902		136,965		—		136,965		—
8.5% unsecured debt due 2024	1,042		1,042		—		—		1,042
CASHMAX secured borrowing facility	(260)		404		—		—		404


	Carrying Value		Estimated Fair Value
	September 30, 2020		September 30, 2020		Fair Value Measurement Using
(in thousands)					Level 1		Level 2		Level 3

Financial assets:
2.89% promissory note receivable due April 2024	$	1,148	$	1,148	$	—	$	—	$	1,148
Investments in unconsolidated affiliates	32,458		32,597		24,833		—		7,764

Financial liabilities:
2024 Convertible Notes	$	117,193	$	129,979	$	—	$	129,979	$	—
2025 Convertible Notes	133,164		137,569		—		137,569		—
8.5% unsecured debt due 2024	872		872		—		—		872

Due to the short-term nature of cash and cash equivalents, pawn loans, pawn service charges receivable and other debt, we estimate that the carrying value approximates fair value. We consider our cash and cash equivalents to be measured using Level 1 inputs and our pawn loans, pawn service charges receivable and other debt to be measured using Level 3 inputs. Significant increases or decreases in the underlying assumptions used to value pawn loans, pawn service charges receivable, consumer loans, 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. The note approximated its carrying value as of December 31, 2020.

We use the equity method of accounting to account for our 34.75% ownership in Cash Converters International. The inputs used to generate the fair value of the investment were considered Level 1 inputs. These inputs are comprised 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 use the equity method of accounting to account for our 13.14% ownership in Rich Data Corporation, a previously consolidated variable interest entity for which we no longer have the power to direct the activities that most significantly affect its economic performance. We believe its fair value approximates carrying value although such fair value is highly variable and includes significant unobservable inputs.

We measured the fair value of the 2024 and 2025 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.

In September 2020, we received the final payment from AlphaCredit on the notes receivable related to the sale of Grupo Finmart and recorded the amount under “Restricted cash” in our consolidated balance sheet as of December 31, 2020. In August 2019, AlphaCredit notified us of an indemnity claim for certain pre-closing taxes, but the nature, extent and validity of such claim has yet to be determined.

- 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

Debt

3 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

DEBT

NOTE 8: DEBT

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


	December 31, 2020						December 31, 2019						September 30, 2020
(in thousands)	Gross Amount		Debt Discount and Issuance Costs		Carrying Amount		Gross Amount		Debt Discount and Issuance Costs		Carrying Amount		Gross Amount		Debt Discount and Issuance Costs		Carrying Amount

2024 Convertible Notes	$	143,750	$	(25,014)	$	118,736	$	143,750	$	(31,010)	$	112,740	$	143,750	$	(26,557)	$	117,193
2025 Convertible Notes	172,500		(37,517)		134,983		172,500		(44,598)		127,902		172,500		(39,336)		133,164
8.5% unsecured debt due 2024*	816		—		816		1,042		—		1,042		872		—		872
CASHMAX secured borrowing facility*	—		—		—		404		(664)		(260)		—		—		—
Total	$	317,066	$	(62,531)	$	254,535	$	317,696	$	(76,272)	$	241,424	$	317,122	$	(65,893)	$	251,229
Less current portion	213		—		213		215		—		215		213		—		213
Total long-term debt	$	316,853	$	(62,531)	$	254,322	$	317,481	$	(76,272)	$	241,209	$	316,909	$	(65,893)	$	251,016

* Amount translated from Guatemalan quetzals and Canadian dollars as of applicable period end. Certain disclosures omitted due to materiality considerations.

The following table presents the Company's contractual maturities related to the debt instruments as of December 31, 2020:


	Schedule of Contractual Maturities
(in thousands)	Total		Less Than 1 Year		1 - 3 Years		3 - 5 Years		More Than 5 Years

2024 Convertible Notes*	$	143,750	$	—	$	—	$	143,750	$	—
2025 Convertible Notes*	172,500		—		—		172,500		—
8.5% unsecured debt due 2024	816		213		425		178		—
	$	317,066	$	213	$	425	$	316,428	$	—

* Excludes the potential impact of embedded derivatives as discussed below.

The following table presents the Company's interest expense related to the Convertible Notes for the three months ended December 31, 2020 and 2019:


	Three Months Ended December 31,
(in thousands)	2020		2019

2024 Convertible Notes:
Contractual interest expense	$	1,033	$	1,033
Amortization of debt discount and deferred financing costs	1,542		1,429
Total interest expense	$	2,575	$	2,462

2025 Convertible Notes:
Contractual interest expense	$	1,024	$	1,024
Amortization of debt discount and deferred financing costs	1,819		1,691
Total interest expense	$	2,843	$	2,715

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”). 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 carrying amount of the 2024 Convertible Notes as a separate equity-classified instrument (the “2024 Convertible Notes Embedded Derivative”) included in “Additional paid-in capital” in our condensed consolidated balance sheets as of December 31, 2020 was $39.8 million, ($25.3 million, net of tax). The effective interest rate for the three months ended December 31, 2020 was approximately 9%. As of December 31, 2020, the remaining unamortized debt discount and issuance costs will be amortized through the 2024 Maturity Date assuming no early conversion.

The 2024 Convertible Notes are convertible into cash or shares of Class A Common Stock, or any combination thereof, at our option subject to satisfaction of certain conditions and during the periods described in the 2017 Indenture, based on an initial conversion rate of 100 shares of Class A Common Stock per $1,000 principal amount of 2024 Convertible Notes (equivalent to an initial conversion price of $10.00 per share of Class A Common Stock). We account for the Class A Common Stock issuable upon conversion under the treasury stock method. To the extent the average share price is over $10.00 per share for any fiscal quarter, we are required to recognize incremental dilution of our earnings per share.

If, among other triggers described in the 2017 Indenture, the market price of the Class A Common Stock meets the threshold based on at least 20 of the final 30 trading days of the quarter for the 2024 Convertible Notes to become convertible at the option of the holders during the subsequent quarter, we may be required to classify the 2024 Convertible Notes as current on our condensed consolidated balance sheets for each quarter in which such triggers are met. The stock trading price condition and other triggers are measured on a quarter-by-quarter basis and were not met as of December 31, 2020. As of December 31, 2020, the if-converted value of the 2024 Convertible Notes did not exceed the principal amount.

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”). 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 carrying amount of the 2025 Convertible Notes as a separate equity-classified instrument (the “2025 Convertible Notes Embedded Derivative”) included in “Additional paid-in capital” in our condensed consolidated balance sheets as of December 31, 2020 was $49.6 million, ($39.1 million, net of tax). The effective interest rate for the three months ended December 31, 2020 was approximately 9%. As of December 31, 2020, the remaining unamortized debt discount and issuance costs will be amortized through the 2025 Maturity Date assuming no early conversion.

The 2025 Convertible Notes are convertible into cash or shares of Class A Common Stock, or any combination thereof, at our option subject to satisfaction of certain conditions and during the periods described in the 2018 Indenture, based on an initial conversion rate of 62.8931 shares of Class A Common Stock per $1,000 principal amount of 2025 Convertible Notes (equivalent to an initial conversion price of $15.90 per share of Class A Common Stock). We account for the Class A Common Stock issuable upon conversion under the treasury stock method. To the extent the average share price is over $15.90 per share for any fiscal quarter or year-to-date period, we are required to recognize incremental dilution of our earnings per share.

If, among other triggers described in the 2018 Indenture, the market price of the Class A Common Stock meets the threshold based on at least 20 of the final 30 trading days of the quarter for the 2025 Convertible Notes to become convertible at the option of the holders during the subsequent quarter, we may be required to classify the 2025 Convertible Notes as current on our condensed consolidated balance sheets for each quarter in which such triggers are met. The stock trading price condition and other triggers are measured on a quarter-by-quarter basis and were not met as of December 31, 2020. As of December 31, 2020, the if-converted value of the 2025 Convertible Notes did not exceed the principal amount.

CASHMAX Secured Borrowing Facility

In November 2018, we entered into a receivable's securitization facility with a third-party lender to provide funding for installment loan originations in our Canadian CASHMAX business. We terminated this facility in September 2020 as part of the closure of the operations of our CASHMAX business. See our 2020 Annual Report for additional information regarding the closure of our Canadian operations.

Prior to the termination of the facility, a variable interest entity (the "trust") had the right, subject to various conditions, to borrow up to CAD $25 million from the lender (the "third-party loan") and use the proceeds to purchase interests in installment loan receivables generated by CASHMAX. The trust used collections on the transferred receivables to pay various amounts in accordance with an agreed priority arrangement, including expenses, its obligations under the third-party loan and, to the extent available, amounts owned to CASHMAX with respect to the purchase price of the transferred receivables and CASHMAX's retained interest in the receivables. CASHMAX had no obligation with respect to the third-party loan or the transferred receivables except to (a) service the underlying installment loans on behalf of the trust and (b) pay amounts owed under or repurchase the underlying installment loans in the event of a breach by CASHMAX or in certain other limited circumstances. The facility was nonrecourse to EZCORP (subject to certain limited guaranty obligations), allowed borrowing through November 2019, and was to fully mature in November 2021.

Share-Based Compensation	3 Months Ended
Share-Based Compensation	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	NOTE 9: SHARE-BASED COMPENSATION Common Stock Repurchase Program In December 2019, the Company's Board of Directors (the "Board") authorized the repurchase of up to $60.0 million of our Class A Common Stock over three years. Repurchases under the program were suspended in March 2020 in order to preserve liquidity as a result of uncertainties related to the COVID-19 pandemic. No share repurchases under the program were made during the first quarter of fiscal 2021. During fiscal 2020, we repurchased and retired 943,149 shares of our Class A Common Stock for $5.2 million, which was 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. During the first quarter of fiscal 2021, we granted a total of 143,145 restricted stock awards to our non-employee directors. These awards vest on March 31, 2021 and are subject only to service conditions. The number of long-term incentive award shares and units granted are generally determined based on our share price as of the beginning of the fiscal year, which was $5.03 for fiscal 2021 awards. During the first quarter of fiscal 2020, we granted a total of 222,912 shares of restricted stock awards to non-employee directors based on a share price of $6.46. These awards vested on September 30, 2020.

Income Taxes	3 Months Ended
Income Taxes	Dec. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 10: INCOME TAXES On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law and includes certain income tax provisions relevant to businesses. We recognized the effect on the consolidated financial statements in the period ended March 31, 2020. For the period ended December 31, 2020, the CARES Act has not had a material impact on our consolidated financial statements. At this time, we do not expect the impact of the CARES Act to have a material impact on our consolidated financial statements for the year ending September 30, 2021.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Contingencies	3 Months Ended
Contingencies	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	NOTE 11: COMMITMENTS AND 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. The amount of resulting loss may differ from these estimates. While we are unable to determine the ultimate outcome of any current litigation or regulatory actions, 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.

Segment Information

3 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 12: 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 (CODM) evaluates performance for purposes of allocating resources and assessing performance. During the first quarter of fiscal 2021, the financial information of our Lana business activities were no longer reviewed by the CODM for evaluating performance since Lana no longer has business activities. Rather, Lana offers support activities to U.S. Pawn. As a result, Lana is no longer an operating or reportable segment. Our historical segment results have been recast to conform to current presentation.

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 International — primarily our equity interest in the net income of Cash Converters International and Rich Data Corporation.

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.

The following tables present revenue for each reportable segment, disaggregated revenue within our three reportable segments and Corporate, segment profits and segment contribution.


	Three Months Ended December 31, 2020
(in thousands)	U.S. Pawn		Latin America Pawn		Other International		Total Segments		Corporate Items		Consolidated

Revenues:
Merchandise sales	$	82,253	$	25,530	$	—	$	107,783	$	—	$	107,783
Jewelry scrapping sales	4,004		2,755		—		6,759		—		6,759
Pawn service charges	50,220		13,269		—		63,489		—		63,489
Other revenues	22		7		75		104		—		104
Total revenues	136,499		41,561		75		178,135		—		178,135
Merchandise cost of goods sold	48,059		16,484		—		64,543		—		64,543
Jewelry scrapping cost of goods sold	2,844		2,358		—		5,202		—		5,202

Net revenues	85,596		22,719		75		108,390		—		108,390
Segment and corporate expenses (income):
Store expenses	62,092		17,217		—		79,309		—		79,309
General and administrative	—		—		—		—		12,510		12,510

Depreciation and amortization	2,736		1,860		—		4,596		2,976		7,572
Loss (gain) on sale or disposal of assets and other	27		(101)		—		(74)		52		(22)

Interest expense	—		—		—		—		5,455		5,455
Interest income	—		(764)		—		(764)		(57)		(821)
Equity in net income of unconsolidated affiliates	—		—		(516)		(516)		—		(516)

Other (income) expense	—		(455)		(210)		(665)		66		(599)
Segment contribution	$	20,741	$	4,962	$	801	$	26,504
Income (loss) before income taxes							$	26,504	$	(21,002)	$	5,502


	Three Months Ended December 31, 2019
(in thousands)	U.S. Pawn		Latin America Pawn		Other International		Total Segments		Corporate Items		Consolidated

Revenues:
Merchandise sales	$	95,354	$	31,374	$	—	$	126,728	$	—	$	126,728
Jewelry scrapping sales	6,117		3,411		—		9,528		—		9,528
Pawn service charges	64,090		20,635		—		84,725		—		84,725
Other revenues	36		25		1,393		1,454		—		1,454
Total revenues	165,597		55,445		1,393		222,435		—		222,435
Merchandise cost of goods sold	61,364		22,712		—		84,076		—		84,076
Jewelry scrapping cost of goods sold	4,755		2,999		—		7,754		—		7,754
Other cost of revenues	—		—		536		536		—		536
Net revenues	99,478		29,734		857		130,069		—		130,069
Segment and corporate expenses (income):
Store expenses	68,059		19,983		1,233		89,275		—		89,275
General and administrative	—		—		—		—		18,839		18,839

Depreciation and amortization	2,865		1,889		34		4,788		2,945		7,733
Loss on sale or disposal of assets and other	—		28		—		28		716		744

Interest expense	—		28		170		198		5,131		5,329
Interest income	—		(388)		—		(388)		(455)		(843)
Equity in net loss of unconsolidated affiliates	—		—		5,897		5,897		—		5,897

Other expense (income)	—		67		(1)		66		32		98
Segment contribution (loss)	$	28,554	$	8,127	$	(6,476)	$	30,205
Income (loss) before income taxes							$	30,205	$	(27,208)	$	2,997

- 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
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+ Details

Supplemental Consolidated Financial Information

3 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION

NOTE 13: SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION

The following table provides supplemental information on net amounts included in our condensed consolidated balance sheets and condensed consolidated statements of cash flows:


(in thousands)	December 31, 2020		December 31, 2019		September 30, 2020

Gross pawn service charges receivable	$	31,721	$	40,887	$	27,259
Allowance for uncollectible pawn service charges receivable	(6,896)		(8,637)		(6,679)
Pawn service charges receivable, net	$	24,825	$	32,250	$	20,580

Gross inventory	$	106,053	$	197,519	$	108,205
Inventory reserves	(11,073)		(10,150)		(12,314)
Inventory, net	$	94,980	$	187,369	$	95,891

Prepaid expenses and other	$	8,079	$	12,463	$	10,614
Accounts receivable and other	9,546		12,257		6,991
Income taxes receivable	15,199		11,422		15,298
Prepaid expenses and other current assets	$	32,824	$	36,142	$	32,903

Property and equipment, gross	$	274,071	$	270,335	$	267,509
Accumulated depreciation	$	(218,867)	(205,089)		(210,523)
Property and equipment, net	$	55,204	$	65,246	$	56,986

Accounts payable	$	17,169	$	12,534	$	19,114
Accrued expenses and other	$	50,608	39,087		52,390
Accounts payable, accrued expenses and other current liabilities	$	67,777	$	51,621	$	71,504

Organization and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Dec. 31, 2020
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 generally accepted accounting principles 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 the Company’s Annual Report on Form 10-K for the year ended September 30, 2 020, filed with the SEC on December 14, 2020 (“2020 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, 2020 are not necessarily indicative of results that may be expected for the fiscal year ending September 30, 2021. Our business is subject to seasonal variations, and operating results for the three months ended December 31, 2020 and 2019 (the "current quarter" and "prior-year quarter," respectively) are not necessarily indicative of the results of operations for the full fiscal year. There have been no changes that have had a material impact in significant accounting policies as described in our Annual Report on Form 10-K for the year ended September 30, 20 20. 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.
Reclassifications	ReclassificationsThe Company has reclassified certain amounts in prior-period financial statements to conform to the current periods presentation.
Use of Estimates	Use of Estimates 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 revenue recognition, 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. Actual results may result in actual amounts differing from reported amounts.
Recently Adopted Accounting Policies and Recently Issued Accounting Pronouncements	Recently Adopted Accounting Policies In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments — Credit Losses (Topic 326) (“ASU 2016-13”). ASU 2016-13 modifies the measurement of expected credit losses of certain financial instruments, requiring entities to estimate an expected lifetime credit loss on financial assets. The ASU amends the impairment model to utilize an expected loss methodology and replaces the incurred loss methodology for financial instruments including trade receivables. The amendment requires entities to consider other factors, such as historical loss experience, current conditions and reasonable and supportable forecasts. ASU 2016-13 was effective on October 1, 2020. We adopted ASU 2016-13 effective October 1, 2020 using the modified retrospective approach. There was no net cumulative effect adjustment to retained earnings as of October 1, 2020 as a result of this adoption. This amendment did not have a material impact on our balance sheets or cash flows from operations and did not have a significant impact on our operating results. Recently Issued Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, “Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity” (“ASU 2020-06”), which simplifies accounting for convertible instruments by removing major separation models required under current U.S. GAAP. ASU 2020-06 removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and it also simplifies the diluted earnings per share calculation in certain areas. ASU 2020-06 is effective for the Company for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020 and adoption must be as of the beginning of our annual fiscal year. We are currently evaluating the impact of this standard on our consolidated financial statements and related disclosures.

Other Charges (Tables)

3 Months Ended

Dec. 31, 2020

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Reserve by Type of Cost


(in millions)		Accrued Charges at September 30, 2020		Charges		Payments and Adjustments		Accrued Charges at December 31, 2020
Cash charges:
	Labor reduction costs	$	5.9	$	—	$	(2.3)	$	3.6
	CASHMAX shutdown costs	0.8		—		(0.4)		0.4
	Store closure costs	1.8		—		(1.8)		—
	Other	2.2		—		(0.1)		2.1
		$	10.7	$	—	$	(4.6)	$	6.1

Earnings per Share (Tables)

3 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Schedule of Net Components of Basic and Diluted 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)	2020		2019



Net income	$	4,299	$	1,238

Earnings per common share
Average common share outstanding (denominator)	55,361		55,666


Earnings per common share	$	0.08	$	0.02

Diluted earnings per common share
Average common share outstanding	55,361		55,666
Dilutive effect of restricted stock and convertible notes*	67		21
Diluted average common shares outstanding (denominator)	55,428		55,687




Diluted earnings per common share	$	0.08	$	0.02

Potential common shares excluded from the calculation of diluted earnings per share above*:
Restricted stock**	657		2,216

* Includes time-based share-based awards and Convertible Notes. See Note 8 for discussion of the terms and conditions of the potential impact of the 2024 Convertible Notes and 2025 Convertible Notes.

Leases (Tables)

3 Months Ended

Dec. 31, 2020

Leases [Abstract]

Schedule of Lessee Assets and Liabilities

The table below presents balances of our operating leases:


(in thousands)	December 31, 2020		December 31, 2019		September 30, 2020

Right-of-use asset	$	177,308	$	225,950	$	183,809



Lease liability, current	$	45,351	$	48,052	$	49,742
Lease liability, non-current	143,620		186,352		153,040
Total lease liability	$	188,971	$	234,404	$	202,782

Schedule of Lease Cost

The table below provides the composition of our lease costs:


	Three Months Ended December 31,
(in thousands)	2020		2019

Operating lease expense	$	15,199	$	16,526
Variable lease expense	3,045		2,807

Total lease expense	$	18,244	$	19,333

Other supplemental information includes the following for our operating leases:


	Three Months Ended December 31,
	2020		2019

Weighted-average remaining contractual lease term (years)	5.06		6.02
Weighted-average incremental borrowing rate	7.85	%	8.44	%

Schedule of Operating Lease Maturity

Maturities of lease liabilities as of December 31, 2020 were as follows (in thousands):


Remaining 2021	$	45,013
Fiscal 2022	52,541
Fiscal 2023	40,417
Fiscal 2024	29,425
Fiscal 2025	20,329
Thereafter	42,260
Total lease payments	$	229,985
Less: Portion representing interest	41,014
Present value of operating lease liabilities	$	188,971
Less: Current portion	45,351
Non-current portion	$	143,620

Strategic Investments (Tables)

3 Months Ended

Dec. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Method Investments

The following tables present summary financial information for Cash Converters International’s most recently reported results at June 30, 2020 after translation to U.S. dollars:


	June 30,
(in thousands)	2020		2019

Current assets	$	157,183	$	173,826
Non-current assets	172,833		152,483
Total assets	$	330,016	$	326,309

Current liabilities	$	68,028	$	77,434
Non-current liabilities	51,275		26,163
Shareholders’ equity	210,713		222,712
Total liabilities and shareholders’ equity	$	330,016	$	326,309


	Fiscal Year Ended June 30,
(in thousands)	2020		2019

Gross revenues	$	187,025	$	201,365
Gross profit	112,511		111,932
Net loss	(7,032)		(1,210)

Fair Value Measurements (Tables)

3 Months Ended

Dec. 31, 2020

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, 2020		December 31, 2020		Fair Value Measurement Using
(in thousands)					Level 1		Level 2		Level 3

Financial assets:
2.89% promissory note receivable due April 2024	$	1,156	$	1,156	$	—	$	—	$	1,156
Investments in unconsolidated affiliates	31,773		44,716		37,039		—		7,677

Financial liabilities:
2024 Convertible Notes	$	118,736	$	134,838	$	—	$	134,838	$	—
2025 Convertible Notes	134,983		138,000		—		138,000		—
8.5% unsecured debt due 2024	816		816		—		—		816


	Carrying Value		Estimated Fair Value
	December 31, 2019		December 31, 2019		Fair Value Measurement Using
(in thousands)					Level 1		Level 2		Level 3

Financial assets:
Notes receivable from Grupo Finmart, net	$	7,450	$	7,729	$	—	$	—	$	7,729
2.89% promissory note receivable due April 2024	1,124		1,124		—		—		1,124
Investments in unconsolidated affiliates	29,272		42,460		34,555		—		7,905

Financial liabilities:
2024 Convertible Notes	$	112,740	$	136,634	$	—	$	136,634	$	—
2025 Convertible Notes	127,902		136,965		—		136,965		—
8.5% unsecured debt due 2024	1,042		1,042		—		—		1,042
CASHMAX secured borrowing facility	(260)		404		—		—		404


	Carrying Value		Estimated Fair Value
	September 30, 2020		September 30, 2020		Fair Value Measurement Using
(in thousands)					Level 1		Level 2		Level 3

Financial assets:
2.89% promissory note receivable due April 2024	$	1,148	$	1,148	$	—	$	—	$	1,148
Investments in unconsolidated affiliates	32,458		32,597		24,833		—		7,764

Financial liabilities:
2024 Convertible Notes	$	117,193	$	129,979	$	—	$	129,979	$	—
2025 Convertible Notes	133,164		137,569		—		137,569		—
8.5% unsecured debt due 2024	872		872		—		—		872

Debt (Tables)

3 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Long Term Debt Instruments

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


	December 31, 2020						December 31, 2019						September 30, 2020
(in thousands)	Gross Amount		Debt Discount and Issuance Costs		Carrying Amount		Gross Amount		Debt Discount and Issuance Costs		Carrying Amount		Gross Amount		Debt Discount and Issuance Costs		Carrying Amount

2024 Convertible Notes	$	143,750	$	(25,014)	$	118,736	$	143,750	$	(31,010)	$	112,740	$	143,750	$	(26,557)	$	117,193
2025 Convertible Notes	172,500		(37,517)		134,983		172,500		(44,598)		127,902		172,500		(39,336)		133,164
8.5% unsecured debt due 2024*	816		—		816		1,042		—		1,042		872		—		872
CASHMAX secured borrowing facility*	—		—		—		404		(664)		(260)		—		—		—
Total	$	317,066	$	(62,531)	$	254,535	$	317,696	$	(76,272)	$	241,424	$	317,122	$	(65,893)	$	251,229
Less current portion	213		—		213		215		—		215		213		—		213
Total long-term debt	$	316,853	$	(62,531)	$	254,322	$	317,481	$	(76,272)	$	241,209	$	316,909	$	(65,893)	$	251,016

* Amount translated from Guatemalan quetzals and Canadian dollars as of applicable period end. Certain disclosures omitted due to materiality considerations.

The following table presents the Company's contractual maturities related to the debt instruments as of December 31, 2020:


	Schedule of Contractual Maturities
(in thousands)	Total		Less Than 1 Year		1 - 3 Years		3 - 5 Years		More Than 5 Years

2024 Convertible Notes*	$	143,750	$	—	$	—	$	143,750	$	—
2025 Convertible Notes*	172,500		—		—		172,500		—
8.5% unsecured debt due 2024	816		213		425		178		—
	$	317,066	$	213	$	425	$	316,428	$	—

* Excludes the potential impact of embedded derivatives as discussed below.

The following table presents the Company's interest expense related to the Convertible Notes for the three months ended December 31, 2020 and 2019:


	Three Months Ended December 31,
(in thousands)	2020		2019

2024 Convertible Notes:
Contractual interest expense	$	1,033	$	1,033
Amortization of debt discount and deferred financing costs	1,542		1,429
Total interest expense	$	2,575	$	2,462

2025 Convertible Notes:
Contractual interest expense	$	1,024	$	1,024
Amortization of debt discount and deferred financing costs	1,819		1,691
Total interest expense	$	2,843	$	2,715

- 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

Segment Information (Tables)

3 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of Operating Segment Information

The following tables present revenue for each reportable segment, disaggregated revenue within our three reportable segments and Corporate, segment profits and segment contribution.


	Three Months Ended December 31, 2020
(in thousands)	U.S. Pawn		Latin America Pawn		Other International		Total Segments		Corporate Items		Consolidated

Revenues:
Merchandise sales	$	82,253	$	25,530	$	—	$	107,783	$	—	$	107,783
Jewelry scrapping sales	4,004		2,755		—		6,759		—		6,759
Pawn service charges	50,220		13,269		—		63,489		—		63,489
Other revenues	22		7		75		104		—		104
Total revenues	136,499		41,561		75		178,135		—		178,135
Merchandise cost of goods sold	48,059		16,484		—		64,543		—		64,543
Jewelry scrapping cost of goods sold	2,844		2,358		—		5,202		—		5,202

Net revenues	85,596		22,719		75		108,390		—		108,390
Segment and corporate expenses (income):
Store expenses	62,092		17,217		—		79,309		—		79,309
General and administrative	—		—		—		—		12,510		12,510

Depreciation and amortization	2,736		1,860		—		4,596		2,976		7,572
Loss (gain) on sale or disposal of assets and other	27		(101)		—		(74)		52		(22)

Interest expense	—		—		—		—		5,455		5,455
Interest income	—		(764)		—		(764)		(57)		(821)
Equity in net income of unconsolidated affiliates	—		—		(516)		(516)		—		(516)

Other (income) expense	—		(455)		(210)		(665)		66		(599)
Segment contribution	$	20,741	$	4,962	$	801	$	26,504
Income (loss) before income taxes							$	26,504	$	(21,002)	$	5,502


	Three Months Ended December 31, 2019
(in thousands)	U.S. Pawn		Latin America Pawn		Other International		Total Segments		Corporate Items		Consolidated

Revenues:
Merchandise sales	$	95,354	$	31,374	$	—	$	126,728	$	—	$	126,728
Jewelry scrapping sales	6,117		3,411		—		9,528		—		9,528
Pawn service charges	64,090		20,635		—		84,725		—		84,725
Other revenues	36		25		1,393		1,454		—		1,454
Total revenues	165,597		55,445		1,393		222,435		—		222,435
Merchandise cost of goods sold	61,364		22,712		—		84,076		—		84,076
Jewelry scrapping cost of goods sold	4,755		2,999		—		7,754		—		7,754
Other cost of revenues	—		—		536		536		—		536
Net revenues	99,478		29,734		857		130,069		—		130,069
Segment and corporate expenses (income):
Store expenses	68,059		19,983		1,233		89,275		—		89,275
General and administrative	—		—		—		—		18,839		18,839

Depreciation and amortization	2,865		1,889		34		4,788		2,945		7,733
Loss on sale or disposal of assets and other	—		28		—		28		716		744

Interest expense	—		28		170		198		5,131		5,329
Interest income	—		(388)		—		(388)		(455)		(843)
Equity in net loss of unconsolidated affiliates	—		—		5,897		5,897		—		5,897

Other expense (income)	—		67		(1)		66		32		98
Segment contribution (loss)	$	28,554	$	8,127	$	(6,476)	$	30,205
Income (loss) before income taxes							$	30,205	$	(27,208)	$	2,997

Supplemental Consolidated Financial Information (Tables)

3 Months Ended

Dec. 31, 2020

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 and condensed consolidated statements of cash flows:


(in thousands)	December 31, 2020		December 31, 2019		September 30, 2020

Gross pawn service charges receivable	$	31,721	$	40,887	$	27,259
Allowance for uncollectible pawn service charges receivable	(6,896)		(8,637)		(6,679)
Pawn service charges receivable, net	$	24,825	$	32,250	$	20,580

Gross inventory	$	106,053	$	197,519	$	108,205
Inventory reserves	(11,073)		(10,150)		(12,314)
Inventory, net	$	94,980	$	187,369	$	95,891

Prepaid expenses and other	$	8,079	$	12,463	$	10,614
Accounts receivable and other	9,546		12,257		6,991
Income taxes receivable	15,199		11,422		15,298
Prepaid expenses and other current assets	$	32,824	$	36,142	$	32,903

Property and equipment, gross	$	274,071	$	270,335	$	267,509
Accumulated depreciation	$	(218,867)	(205,089)		(210,523)
Property and equipment, net	$	55,204	$	65,246	$	56,986

Accounts payable	$	17,169	$	12,534	$	19,114
Accrued expenses and other	$	50,608	39,087		52,390
Accounts payable, accrued expenses and other current liabilities	$	67,777	$	51,621	$	71,504

Expected Credit Losses (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Credit Loss [Abstract]
Pawn loans	$ 147,852	$ 131,323	$ 195,586
Pawn service charges receivable, net	$ 24,825	$ 20,580	$ 32,250

Other Charges - Additional Information (Details) - Cost savings initiative plan - USD ($)	3 Months Ended
	Dec. 31, 2020	Sep. 30, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 0	$ 20,400,000
Restructuring reserve	$ 6,100,000	$ 10,700,000

Other Charges - Activity (Details) - Cost savings initiative plan $ in Millions	3 Months Ended
	Dec. 31, 2020 USD ($)
Restructuring Reserve [Roll Forward]
Accrued charges beginning balance	$ 10.7
Charges	0.0
Payments and Adjustments	(4.6)
Accrued charges ending balance	6.1
Labor reduction costs
Restructuring Reserve [Roll Forward]
Accrued charges beginning balance	5.9
Charges	0.0
Payments and Adjustments	(2.3)
Accrued charges ending balance	3.6
CASHMAX shutdown costs
Restructuring Reserve [Roll Forward]
Accrued charges beginning balance	0.8
Charges	0.0
Payments and Adjustments	(0.4)
Accrued charges ending balance	0.4
Store closure costs
Restructuring Reserve [Roll Forward]
Accrued charges beginning balance	1.8
Charges	0.0
Payments and Adjustments	(1.8)
Accrued charges ending balance	0.0
Other
Restructuring Reserve [Roll Forward]
Accrued charges beginning balance	2.2
Charges	0.0
Payments and Adjustments	(0.1)
Accrued charges ending balance	$ 2.1

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Net income	$ 4,299	$ 1,238
Earnings per common share
Average common share outstanding (denominator) (in shares)	55,361	55,666
Earnings per common share (in dollars per share)	$ 0.08	$ 0.02
Diluted earnings per common share
Average common share outstanding (denominator) (in shares)	55,361	55,666
Dilutive effect of restricted stock and convertible notes (in shares)	67	21
Diluted average common shares outstanding (denominator) (in shares)	55,428	55,687
Diluted earnings per common share (in dollars per share)	$ 0.08	$ 0.02
Potential common shares excluded from the calculation of diluted earnings per share above, Restricted stock (in shares)	657	2,216

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Operating lease right of use asset non cash	$ 1.6	$ 0.8
Operating lease liability non cash	$ 1.6	$ 0.8
Minimum
Lessee, Lease, Description [Line Items]
Initial term of lease (in years)	3 years
Maximum
Lessee, Lease, Description [Line Items]
Initial term of lease (in years)	10 years

Leases - Lessee Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Right-of-use asset	$ 177,308	$ 183,809	$ 225,950
Lease liability, current	45,351	49,742	48,052
Lease liability, non-current	143,620	153,040	186,352
Present value of operating lease liabilities	$ 188,971	$ 202,782	$ 234,404

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease expense	$ 15,199	$ 16,526
Variable lease expense	3,045	2,807
Total lease expense	$ 18,244	$ 19,333

Leases - Supplemental Cash Flow Information (Details)	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Weighted-average remaining contractual lease term (years)	5 years 21 days	6 years 7 days
Weighted-average incremental borrowing rate	7.85%	8.44%

Leases - Operating Lease Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Remaining 2021	$ 45,013
Fiscal 2022	52,541
Fiscal 2023	40,417
Fiscal 2024	29,425
Fiscal 2025	20,329
Thereafter	42,260
Total lease payments	229,985
Less: Portion representing interest	41,014
Present value of operating lease liabilities	188,971	$ 202,782	$ 234,404
Less: Current portion	45,351	49,742	48,052
Non-current portion	$ 143,620	$ 153,040	$ 186,352

Strategic Investments - Additional Disclosures (Details) - Cash Converters International Limited	Dec. 31, 2020 shares
Schedule of Equity Method Investments [Line Items]
Number of common shares owned (in shares)	214,183,714
Percentage of common shares owned	34.75%

Strategic Investments - Summarized Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2020
Summary of financial information for Cash Converters International Limited
Current assets	$ 598,942	$ 601,938			$ 593,250
Total assets	1,197,164	1,300,942			1,197,023
Current liabilities	123,245	112,436			132,467
Total liabilities and equity	1,197,164	1,300,942			$ 1,197,023
Gross profit	108,390	130,069
Net loss	$ 4,299	$ 1,238
Cash Converters International Limited
Summary of financial information for Cash Converters International Limited
Current assets			$ 157,183	$ 173,826
Non-current assets			172,833	152,483
Total assets			330,016	326,309
Current liabilities			68,028	77,434
Non-current liabilities			51,275	26,163
Shareholders’ equity			210,713	222,712
Total liabilities and equity			330,016	326,309
Gross revenues			187,025	201,365
Gross profit			112,511	111,932
Net loss			$ (7,032)	$ (1,210)

Fair Value Measurements - Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		12 Months Ended
	Apr. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2020	Apr. 01, 2019
Financial liabilities:
Interest on note receivable	2.89%
Notes receivable from Grupo Finmart, net \| Carrying Value
Financial assets:
Notes receivable, fair value			$ 7,450
Notes receivable from Grupo Finmart, net \| Estimated Fair Value
Financial assets:
Notes receivable, fair value			7,729
Notes receivable from Grupo Finmart, net \| Estimated Fair Value \| Level 1
Financial assets:
Notes receivable, fair value			0
Notes receivable from Grupo Finmart, net \| Estimated Fair Value \| Level 2
Financial assets:
Notes receivable, fair value			0
Notes receivable from Grupo Finmart, net \| Estimated Fair Value \| Level 3
Financial assets:
Notes receivable, fair value			$ 7,729
2.89% promissory note receivable due April 2024
Financial assets:
Notes receivable, fair value					$ 1,100
Financial liabilities:
Interest on note receivable	2.89%	2.89%	2.89%	2.89%
2.89% promissory note receivable due April 2024 \| Carrying Value
Financial assets:
Notes receivable, fair value		$ 1,156	$ 1,124	$ 1,148
2.89% promissory note receivable due April 2024 \| Estimated Fair Value
Financial assets:
Notes receivable, fair value		1,156	1,124	1,148
2.89% promissory note receivable due April 2024 \| Estimated Fair Value \| Level 1
Financial assets:
Notes receivable, fair value		0	0	0
2.89% promissory note receivable due April 2024 \| Estimated Fair Value \| Level 2
Financial assets:
Notes receivable, fair value		0	0	0
2.89% promissory note receivable due April 2024 \| Estimated Fair Value \| Level 3
Financial assets:
Notes receivable, fair value		1,156	1,124	1,148
Investments in unconsolidated affiliates \| Carrying Value
Financial assets:
Investments in unconsolidated affiliates, fair value		31,773	29,272	32,458
Investments in unconsolidated affiliates \| Estimated Fair Value
Financial assets:
Investments in unconsolidated affiliates, fair value		44,716	42,460	32,597
Investments in unconsolidated affiliates \| Estimated Fair Value \| Level 1
Financial assets:
Investments in unconsolidated affiliates, fair value		37,039	34,555	24,833
Investments in unconsolidated affiliates \| Estimated Fair Value \| Level 2
Financial assets:
Investments in unconsolidated affiliates, fair value		0	0	0
Investments in unconsolidated affiliates \| Estimated Fair Value \| Level 3
Financial assets:
Investments in unconsolidated affiliates, fair value		7,677	7,905	7,764
2024 Convertible Notes \| Carrying Value
Financial liabilities:
Debt instruments, fair value		118,736	112,740	117,193
2024 Convertible Notes \| Estimated Fair Value
Financial liabilities:
Debt instruments, fair value		134,838	136,634	129,979
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		134,838	136,634	129,979
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		134,983	127,902	133,164
2025 Convertible Notes \| Estimated Fair Value
Financial liabilities:
Debt instruments, fair value		138,000	136,965	137,569
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		138,000	136,965	137,569
2025 Convertible Notes \| Estimated Fair Value \| Level 3
Financial liabilities:
Debt instruments, fair value		$ 0	$ 0	$ 0
8.5% unsecured debt due 2024
Financial liabilities:
Stated interest rate		8.50%	8.50%	8.50%
8.5% unsecured debt due 2024 \| Carrying Value
Financial liabilities:
Debt instruments, fair value		$ 816	$ 1,042	$ 872
8.5% unsecured debt due 2024 \| Estimated Fair Value
Financial liabilities:
Debt instruments, fair value		816,000	1,042	872
8.5% unsecured debt due 2024 \| Estimated Fair Value \| Level 1
Financial liabilities:
Debt instruments, fair value		0	0	0
8.5% unsecured debt due 2024 \| Estimated Fair Value \| Level 2
Financial liabilities:
Debt instruments, fair value		0	0	0
8.5% unsecured debt due 2024 \| Estimated Fair Value \| Level 3
Financial liabilities:
Debt instruments, fair value		$ 816,000	1,042	$ 872
CASHMAX secured borrowing facility \| Carrying Value
Financial liabilities:
Debt instruments, fair value			(260)
CASHMAX secured borrowing facility \| Estimated Fair Value
Financial liabilities:
Debt instruments, fair value			404
CASHMAX secured borrowing facility \| Estimated Fair Value \| Level 1
Financial liabilities:
Debt instruments, fair value			0
CASHMAX secured borrowing facility \| Estimated Fair Value \| Level 2
Financial liabilities:
Debt instruments, fair value			0
CASHMAX secured borrowing facility \| Estimated Fair Value \| Level 3
Financial liabilities:
Debt instruments, fair value			$ 404

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended		12 Months Ended
	Apr. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2020	Apr. 01, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount received in previously escrowed seller funds		$ 1.1
Interest on note receivable	2.89%
Cash Converters International Limited
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity method of accounting ownership percentage			34.75%
Rich Data Corp
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity method of accounting ownership percentage			13.14%
2.89% 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
Interest on note receivable	2.89%		2.89%	2.89%	2.89%

Debt - Outstanding Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019	May 31, 2018	May 14, 2018	Jul. 31, 2017
Gross Amount
Total	$ 317,066	$ 317,122	$ 317,696
Less current portion	213	213	215
Total long-term debt	316,853	316,909	317,481
Debt Discount and Issuance Costs
Total	(62,531)	(65,893)	(76,272)
Less current portion	0	0	0
Total long-term debt	(62,531)	(65,893)	(76,272)
Carrying Amount
Total	254,535	251,229	241,424
Less current portion	213	213	215
Total long-term debt	254,322	251,016	241,209
2024 Convertible Notes
Carrying Amount
Stated interest rate						2.875%
2025 Convertible Notes
Carrying Amount
Stated interest rate				2.375%	2.375%
Senior Notes \| 2024 Convertible Notes
Gross Amount
Total	143,750	143,750	143,750
Debt Discount and Issuance Costs
Total	(25,014)	(26,557)	(31,010)
Carrying Amount
Total	118,736	117,193	112,740
Senior Notes \| 2025 Convertible Notes
Gross Amount
Total	172,500	172,500	172,500
Debt Discount and Issuance Costs
Total	(37,517)	(39,336)	(44,598)
Carrying Amount
Total	134,983	133,164	127,902
Unsecured Debt \| 8.5% unsecured debt due 2024
Gross Amount
Total	816	872	1,042
Debt Discount and Issuance Costs
Total	0	0	0
Carrying Amount
Total	$ 816	872	1,042
Stated interest rate	8.50%
Receivables Securitization Facility \| CASHMAX secured borrowing facility
Gross Amount
Total	$ 0	0	404
Debt Discount and Issuance Costs
Total	0	0	(664)
Carrying Amount
Total	$ 0	$ 0	$ (260)

Debt - Principal Payments (Details) - USD ($)	Dec. 31, 2020	May 31, 2018	May 14, 2018	Jul. 31, 2017
Debt Instrument [Line Items]
Total	$ 317,066,000
Less Than 1 Year	213,000
1 - 3 Years	425,000
3 - 5 Years	316,428,000
More Than 5 Years	0
2024 Convertible Notes
Debt Instrument [Line Items]
Total				$ 143,750,000
Stated interest rate				2.875%
2025 Convertible Notes
Debt Instrument [Line Items]
Total		$ 172,500,000
Stated interest rate		2.375%	2.375%
Senior Notes \| 2024 Convertible Notes
Debt Instrument [Line Items]
Total	143,750,000
Less Than 1 Year	0
1 - 3 Years	0
3 - 5 Years	143,750,000
More Than 5 Years	0
Senior Notes \| 2025 Convertible Notes
Debt Instrument [Line Items]
Total	172,500,000
Less Than 1 Year	0
1 - 3 Years	0
3 - 5 Years	172,500,000
More Than 5 Years	0
Unsecured Debt \| 8.5% unsecured debt due 2024
Debt Instrument [Line Items]
Total	816,000
Less Than 1 Year	213,000
1 - 3 Years	425,000
3 - 5 Years	178,000
More Than 5 Years	$ 0
Stated interest rate	8.50%

Debt - Interest Expense (Details) - Senior Notes - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
2024 Convertible Notes
Debt Instrument [Line Items]
Contractual interest expense	$ 1,033	$ 1,033
Amortization of debt discount and deferred financing costs	1,542	1,429
Total interest expense	2,575	2,462
2025 Convertible Notes
Debt Instrument [Line Items]
Contractual interest expense	1,024	1,024
Amortization of debt discount and deferred financing costs	1,819	1,691
Total interest expense	$ 2,843	$ 2,715

Debt - Additional Information (Details) $ / shares in Units, $ in Millions		1 Months Ended	3 Months Ended
	May 14, 2018 day $ / shares	Jul. 31, 2017 USD ($) day $ / shares	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Dec. 31, 2019 USD ($)	Nov. 30, 2018 CAD ($)	May 31, 2018 USD ($)
Debt Instrument [Line Items]
Principal amount			$ 317,066,000
Carrying amount			254,535,000	$ 251,229,000	$ 241,424,000
2024 Convertible Notes
Debt Instrument [Line Items]
Stated interest rate		2.875%
Principal amount		$ 143,750,000
2024 Convertible Notes \| Common Stock Class A Non-voting
Debt Instrument [Line Items]
Conversion rate per $1,000 principal amount		0.1
Conversion price, per share (in dollars per share) \| $ / shares		$ 10.00
2024 Convertible Notes \| Additional Paid-in Capital
Debt Instrument [Line Items]
Equity component of debt, gross			39,800,000
Carrying amount			$ 25,300,000
Effective interest rate			9.00%
2024 Convertible Notes \| Senior Notes
Debt Instrument [Line Items]
Principal amount			$ 143,750,000
Carrying amount			118,736,000	117,193,000	112,740,000
2024 Convertible Notes \| Debt Conversion, Condition One \| Senior Notes
Debt Instrument [Line Items]
Trading days threshold \| day		20
Consecutive trading day threshold \| day		30
2025 Convertible Notes
Debt Instrument [Line Items]
Stated interest rate	2.375%						2.375%
Principal amount							$ 172,500,000
2025 Convertible Notes \| Additional Paid-in Capital
Debt Instrument [Line Items]
Equity component of debt, gross			49,600,000
2025 Convertible Notes \| Senior Notes
Debt Instrument [Line Items]
Principal amount			172,500,000
Carrying amount			$ 134,983,000	133,164,000	127,902,000
Effective interest rate			9.00%
Conversion rate per $1,000 principal amount	0.0628931
Conversion price, per share (in dollars per share) \| $ / shares	$ 15.90
Share price (in dollars per share) \| $ / shares	$ 15.90
2025 Convertible Notes \| Senior Notes \| Additional Paid-in Capital
Debt Instrument [Line Items]
Equity component of debt			$ 39,100,000
2025 Convertible Notes \| Debt Conversion, Condition One \| Senior Notes
Debt Instrument [Line Items]
Trading days threshold \| day	20
Consecutive trading day threshold \| day	30
CASHMAX secured borrowing facility \| Receivables Securitization Facility
Debt Instrument [Line Items]
Carrying amount			$ 0	$ 0	$ (260,000)
CASHMAX secured borrowing facility \| Receivables Securitization Facility \| Variable Interest Entity, Primary Beneficiary
Debt Instrument [Line Items]
Maximum borrowing amount						$ 25

Share-Based Compensation (Details) - USD ($)	1 Months Ended	3 Months Ended		12 Months Ended
Share-Based Compensation (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, period (in years)	3 years
Common stock repurchased and retired			$ 963,000
Long-Term Incentive Plan 2010 \| Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, options, grants in period, weighted average grant date fair value (usd per share)		$ 5.03
Long-Term Incentive Plan 2010 \| Non-employee Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		143,145
Long-Term Incentive Plan 2010 \| Non-employee Directors \| Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			222,912
Share-based payment award, options, grants in period, weighted average grant date fair value (usd per share)			$ 6.46
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, amount authorized	$ 60,000,000.0		$ 60,000,000.0
Common stock repurchased and retired (in shares)		0		943,149
Common stock repurchased and retired				$ 5,200,000

Segment Information (Details) $ in Thousands	3 Months Ended
Segment Information (Details) $ in Thousands	Dec. 31, 2020 USD ($) segment	Dec. 31, 2019 USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| segment	3
Revenues:
Total revenues	$ 178,135	$ 222,435
Net revenues	108,390	130,069
Segment and corporate expenses (income):
Store expenses	79,309	89,275
General and administrative	12,510	18,839
Depreciation and amortization	7,572	7,733
Loss (gain) on sale or disposal of assets and other	(22)	744
Interest expense	5,455	5,329
Interest income	(821)	(843)
Equity in net income of unconsolidated affiliates	(516)	5,897
Other (income) expense	(599)	98
Income before income taxes	5,502	2,997
Segments
Revenues:
Total revenues	178,135	222,435
Net revenues	108,390	130,069
Segment and corporate expenses (income):
Store expenses	79,309	89,275
General and administrative	0	0
Depreciation and amortization	4,596	4,788
Loss (gain) on sale or disposal of assets and other	(74)	28
Interest expense	0	198
Interest income	(764)	(388)
Equity in net income of unconsolidated affiliates	(516)	5,897
Other (income) expense	(665)	66
Income before income taxes	26,504	30,205
Segments \| U.S. Pawn
Revenues:
Total revenues	136,499	165,597
Net revenues	85,596	99,478
Segment and corporate expenses (income):
Store expenses	62,092	68,059
General and administrative	0	0
Depreciation and amortization	2,736	2,865
Loss (gain) on sale or disposal of assets and other	27	0
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	20,741	28,554
Segments \| Latin America Pawn
Revenues:
Total revenues	41,561	55,445
Net revenues	22,719	29,734
Segment and corporate expenses (income):
Store expenses	17,217	19,983
General and administrative	0	0
Depreciation and amortization	1,860	1,889
Loss (gain) on sale or disposal of assets and other	(101)	28
Interest expense	0	28
Interest income	(764)	(388)
Equity in net income of unconsolidated affiliates	0	0
Other (income) expense	(455)	67
Income before income taxes	4,962	8,127
Segments \| Other International
Revenues:
Total revenues	75	1,393
Net revenues	75	857
Segment and corporate expenses (income):
Store expenses	0	1,233
General and administrative	0	0
Depreciation and amortization	0	34
Loss (gain) on sale or disposal of assets and other	0	0
Interest expense	0	170
Interest income	0	0
Equity in net income of unconsolidated affiliates	(516)	5,897
Other (income) expense	(210)	(1)
Income before income taxes	801	(6,476)
Corporate Items
Revenues:
Total revenues	0	0
Net revenues	0	0
Segment and corporate expenses (income):
Store expenses	0	0
General and administrative	12,510	18,839
Depreciation and amortization	2,976	2,945
Loss (gain) on sale or disposal of assets and other	52	716
Interest expense	5,455	5,131
Interest income	(57)	(455)
Equity in net income of unconsolidated affiliates	0	0
Other (income) expense	66	32
Income before income taxes	(21,002)	(27,208)
Merchandise
Revenues:
Total revenues	107,783	126,728
Cost of goods sold	64,543	84,076
Merchandise \| Segments
Revenues:
Total revenues	107,783	126,728
Cost of goods sold	64,543	84,076
Merchandise \| Segments \| U.S. Pawn
Revenues:
Total revenues	82,253	95,354
Cost of goods sold	48,059	61,364
Merchandise \| Segments \| Latin America Pawn
Revenues:
Total revenues	25,530	31,374
Cost of goods sold	16,484	22,712
Merchandise \| Segments \| Other International
Revenues:
Total revenues	0	0
Cost of goods sold	0	0
Merchandise \| Corporate Items
Revenues:
Total revenues	0	0
Cost of goods sold	0	0
Jewelry scrapping
Revenues:
Total revenues	6,759	9,528
Cost of goods sold	5,202	7,754
Jewelry scrapping \| Segments
Revenues:
Total revenues	6,759	9,528
Cost of goods sold	5,202	7,754
Jewelry scrapping \| Segments \| U.S. Pawn
Revenues:
Total revenues	4,004	6,117
Cost of goods sold	2,844	4,755
Jewelry scrapping \| Segments \| Latin America Pawn
Revenues:
Total revenues	2,755	3,411
Cost of goods sold	2,358	2,999
Jewelry scrapping \| Segments \| Other International
Revenues:
Total revenues	0	0
Cost of goods sold	0	0
Jewelry scrapping \| Corporate Items
Revenues:
Total revenues	0	0
Cost of goods sold	0	0
Pawn service charges
Revenues:
Total revenues	63,489	84,725
Pawn service charges \| Segments
Revenues:
Total revenues	63,489	84,725
Pawn service charges \| Segments \| U.S. Pawn
Revenues:
Total revenues	50,220	64,090
Pawn service charges \| Segments \| Latin America Pawn
Revenues:
Total revenues	13,269	20,635
Pawn service charges \| Segments \| Other International
Revenues:
Total revenues	0	0
Pawn service charges \| Corporate Items
Revenues:
Total revenues	0	0
Other
Revenues:
Total revenues	104	1,454
Cost of goods sold	0	536
Other \| Segments
Revenues:
Total revenues	104	1,454
Cost of goods sold		536
Other \| Segments \| U.S. Pawn
Revenues:
Total revenues	22	36
Cost of goods sold		0
Other \| Segments \| Latin America Pawn
Revenues:
Total revenues	7	25
Cost of goods sold		0
Other \| Segments \| Other International
Revenues:
Total revenues	75	1,393
Cost of goods sold		536
Other \| Corporate Items
Revenues:
Total revenues	$ 0	0
Cost of goods sold		$ 0

Supplemental Consolidated Financial Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Gross pawn service charges receivable	$ 31,721	$ 27,259	$ 40,887
Allowance for uncollectible pawn service charges receivable	(6,896)	(6,679)	(8,637)
Pawn service charges receivable, net	24,825	20,580	32,250
Gross inventory	106,053	108,205	197,519
Inventory reserves	(11,073)	(12,314)	(10,150)
Inventory, net	94,980	95,891	187,369
Prepaid expenses and other	8,079	10,614	12,463
Accounts receivable and other	9,546	6,991	12,257
Income taxes receivable	15,199	15,298	11,422
Prepaid expenses and other current assets	32,824	32,903	36,142
Property and equipment, gross	274,071	267,509	270,335
Accumulated depreciation	(218,867)	(210,523)	(205,089)
Property and equipment, net	55,204	56,986	65,246
Accounts payable	17,169	19,114	12,534
Accrued expenses and other	50,608	52,390	39,087
Accounts payable, accrued expenses and other current liabilities	$ 67,777	$ 71,504	$ 51,621

Label	Element	Value
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	$ 8,011,000
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	$ 0