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goeasy Ltd. Reports Results for the Second Quarter 2026

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Gross Consumer Loans Receivable of $5.00 billion at Q2/26 end, down 2% from $5.11 billion at Q2/25

Revenue of $390 million in Q2/26, down 10% compared to $431 million in Q2/25

Net Charge Off Rate1 of 16.7% in Q2/26, up 800 bps from 8.7% in Q2/25

Diluted Earnings Per Share of $0.96 in Q2/26, down from diluted EPS of $5.49 in Q2/25

Adjusted Diluted Earnings Per Share1 of $1.02 in Q2/26, down from Adj. Dil. EPS1 of $4.40 in Q2/25

MISSISSAUGA, ON, Aug. 6, 2026 /CNW/ — goeasy Ltd. (TSX: GSY), (“goeasy” or the “Company”), one of Canada’s leading consumer lenders focused on delivering a full suite of financial services to Canadians with non-prime credit scores, today reported results for the second quarter ended June 30, 2026.

“We continued to methodically execute our six-point action plan in the second quarter, including managing our origination activity to prioritize liquidity. Compared to the first quarter of 2026, we reduced our net charge off rate by 110 basis points and strengthened our debt-to-adjusted tangible equity ratio from 5.30x to 4.95x,” said Patrick Ens, goeasy’s Chief Executive Officer. “We generated $585.4 million cash from operating activities before net principal written, repaid the full $314.0 million balance outstanding on our revolving credit facility and regained access to incremental draws on that facility as of July 1. We believe in the strength and durability of our business, and the actions we took in the second quarter have helped to reestablish our financial foundation to prudently grow originations.”

Second Quarter Results

During the quarter, the Company funded $272.1 million in gross loan originations, down 70% compared to $903.7 million in the second quarter of 2025. The decrease in lending, consistent with the Company’s six-point action plan, was primarily due to a reduction in merchant-originated automotive and powersports loan originations attributable to the implementation of tighter credit underwriting measures as those portfolios continued to exhibit unfavourable credit risk performance, and a moderation in direct-to-consumer loan originations, implemented to manage the Company’s liquidity.

Gross consumer loans receivable decreased 2% to $5.00 billion as at June 30, 2026 from $5.11 billion at the end of the second quarter of 2025, and decreased 7% from $5.36 billion at the end of the first quarter of 2026. The decrease in the Company’s average consumer loans receivable and lower total yield on consumer loans (including ancillary products) were the main drivers of the 10% decrease in revenue from $431.3 million in the second quarter of 2025 to $390.0 million in the second quarter of 2026. Total yield on consumer loans (including ancillary products) realized by the Company on its average consumer loans receivable1 was 28.3% in the quarter, down 340 bps from the same period in 2025, but up 40 bps from the first quarter of 2026. Total annualized yield decreased year-over-year mainly due to the impact of higher allowance for credit losses on interest receivable; credit tightening in merchant-originated loan originations and a moderate reduction in direct-to-consumer loan originations; the continued impact of the lowered maximum allowable rate of interest on the Company’s unsecured lending product; and a higher proportion of larger dollar value loans, which have lower yields on certain ancillary products.

During the quarter, net charge offs as a percentage of average gross consumer loans receivable1 was 16.7%, up 800 bps from 8.7% in the second quarter of 2025, but down 110 bps from the first quarter of 2026. Net charge offs as a percentage of average gross consumer loans receivable1 increased year-over-year primarily due to higher charge offs in the merchant-originated automotive and powersports loan portfolios, higher charge offs in the direct-to-consumer portfolio and lower average gross consumer loans receivable.

The total allowance for credit losses on gross consumer loans increased to $499.5 million from $406.7 million as at June 30, 2025, mainly due to the Company’s current view of collectability and an increase in the credit loss outlook for merchant-originated automotive and powersports loans. The rate of allowance for expected credit losses, defined as the allowance for credit losses on gross consumer loans receivable as a percentage of the ending gross consumer loans receivable, declined from 10.09% as at March 31, 2026 to 9.99% as at June 30, 2026, driven mainly by the favourable changes in the macroeconomic outlook incorporated into the Company’s IFRS 9 expected credit loss model. For the three-month period ended June 30, 2026, the net change in allowance for credit losses on gross consumer loans was negative $41.6 million, compared to $21.0 million in the same period of 2025, a decrease of $62.6 million. This decrease was primarily driven by the release of provision for credit losses resulting from the decline in gross consumer loans receivable during the three-month period ended June 30, 2026, as discussed above.

Operating income for the second quarter of 2026 was $99.6 million, down 41% from $167.7 million in the second quarter of 2025. After adjusting for unusual and non-recurring items, the Company reported adjusted operating income2 of $102.9 million, a decrease from $171.1 million in the second quarter of 2025. The efficiency ratio1 for the second quarter of 2026 was 25.5%, relatively flat from 25.6% in the second quarter of 2025.

Net income for the second quarter of 2026 was $15.9 million, down from net income of $91.5 million in the second quarter of 2025. Diluted earnings per share was $0.96, down from diluted earnings per share of $5.49 reported in the second quarter of 2025. Adjusted net income2 for the second quarter of 2026 was $16.8 million, down from adjusted net income2 of $73.4 million in the second quarter of 2025. The decrease in adjusted net income was primarily driven by lower adjusted operating income from lower total yield on consumer loans (including ancillary products), elevated credit losses and a higher cost of borrowing. Adjusted diluted earnings per share1 was $1.02, down from adjusted diluted earnings per share1 of $4.40 in the second quarter of 2025.

Balance Sheet and Liquidity

Total assets were $5.48 billion as at June 30, 2026, a decrease of 3% from $5.63 billion as at June 30, 2025, related primarily to a $224.5 million decrease in net consumer loans receivable, driven by lower originations during the period, higher charge offs recognized from the fourth quarter of 2025 to the second quarter of 2026, and impairment of goodwill related to the LendCare cash-generating unit. Cash provided by operating activities before net principal written2 in the second quarter of 2026 was $585.4 million, compared to $489.1 million in the second quarter of 2025. The Company’s debt-to-adjusted tangible equity ratio3, a capital management measure for leverage, was 4.95x as at June 30, 2026, compared to 3.71x as at June 30, 2025 and 5.30x as at March 31, 2026. The average blended coupon interest rate for the Company’s debt as at June 30, 2026 was 6.8%.

As at June 30, 2026, goeasy had liquidity (cash on hand plus unused contractual borrowing capacity) of $1.37 billion, of which $1.06 billion was not available to be drawn by the Company. On July 1, 2026, goeasy regained the ability to make incremental draws on its $550 million Revolving Credit Facility. In July 2026, the Company also received confirmation from the applicable lenders under its amended Revolving Securitization Facility I (the “Securitization Facility”) that the audit report required under that facility had been accepted and the related condition precedent to regaining access to the Securitization Facility (which is one of two such conditions) had been fulfilled. The Company has also meaningfully advanced steps to replace the backup servicer under the Securitization Facility and does not expect any impediments to meeting this condition, completion of which will permit additional draws on the Securitization Facility. Discussions between the Company and its lenders have also been initiated to extend the Securitization Facility for one year, however these discussions are preliminary and there is no assurance that such an extension will be agreed upon nor certainty as to the timing or terms of such an extension. The Company was in compliance with all of its covenants (including financial covenants) under its Revolving Credit Facility as at June 30, 2026. The Company was not subject to financial covenant compliance, and was in compliance with all other applicable covenants, for the Securitization Facility as at June 30, 2026.  

Selected Additional Second Quarter Information
(June 30, 2026 relative to June 30, 2025, where applicable)

45% of gross consumer loans receivable secured, down from 48%Total number of active lending customers at 438,000, down 2%62% of net loan advances1 in the quarter were issued to new customers, down from 73%Weighted average interest rate4 on consumer loans of 26.3%, up from 26.1%87.9% of gross consumer loans receivable, on a dollar-weighted basis, carried an interest rate less than or equal to a 35% Annual Percentage Rate, being the maximum allowable interest rate for new loans written after January 1, 2025

Six Months Results

For the first six months of 2026, the Company funded $823.4 million in loan originations, down 48% from $1.58 billion in the same period of 2025. Total yield on consumer loans (including ancillary products) realized by the Company on its average consumer loans receivable1 was 28.1% in the first six months of 2026, down 340 bps from the same period in 2025. Net charge offs for the first six months of 2026, as a percentage of average gross consumer loans receivable1, was 17.3%, up 850 bps from 8.8% in the same period of 2025.

For the first six months of 2026, the Company produced revenues of $802.9 million, down 4% compared to $836.3 million in the same period of 2025. Operating income for the period was $128.5 million compared with $311.8 million in the first six months of 2025, a decrease of $183.3 million or 59%. Adjusted operating income2 for the first six months of 2026 was $139.8 million, 56% lower compared to $318.5 million in the same period of 2025. Efficiency ratio1 for the first six months of 2026 was 25.0%, an improvement of 90 bps from 25.9% in the same period of 2025.

Net loss for the first six months of 2026 was $37.1 million and diluted loss per share was $2.26 compared with net income of $130.2 million or $7.73 per share in the same period of 2025. Adjusted net loss2 for the first six months of 2026 was $14.5 million and adjusted diluted loss per share1 was $0.88, compared with adjusted net income2 of $132.7 million or $7.88 per share, both decreases of 111%.

Updated 2026 Outlook

The Company’s Q2 2026 outlook, and the relevant assumptions and risk factors, were disclosed in its March 31, 2026 MD&A. The Company’s actual second quarter performance was consistent with its second quarter 2026 outlook across all three measures. The Company continues to focus on prudent management of liquidity, strengthening of credit performance, and alignment of its capital structure. Management remains confident in goeasy’s ability to return to its long track record of strong credit performance and returns that will reinforce confidence among shareholders and other stakeholders.

The Company has updated its Q3 2026 outlook for gross consumer loans receivable and total yield on consumer loans for the full year 2026. This update assumes the continued implementation of the Company’s 6-point plan and reflects the Company’s expectations for the balance of the year. Refer to “Q3 2026 Outlook and Full Year 2026 Commentary” in the Company’s June 30, 2026 MD&A for more detail and to the assumptions and risks set out below under “Forward Looking Statements”.

Q3 2026 Outlook

Full Year 2026 Commentary

Gross consumer loans receivable at period end

$4.8 to $5.0 billion

Expected to be broadly in line with Q2 levels

Total yield on consumer loans (including ancillary products)1

26.5% to 28.0%

Expected to be broadly in line with H1 results

Net charge offs as a percentage of average gross consumer loans receivable1

14.5% to 16.0%

Expected to be in the mid-teens for full year 2026; improvement expected to continue as the year progresses

Chief Risk Officer Transition

The Company also announced today that Jason Appel will be leaving his role as Chief Risk Officer to pursue an external opportunity and will remain with goeasy through the end of August, to support an orderly transition. “I would like to thank Jason for his leadership and many contributions to goeasy over the past 13 years and wish him every success in the future,” said Patrick Ens, Chief Executive Officer. “Jason has played an important role in helping build and strengthen our Risk and Analytics capabilities and support goeasy’s growth and evolution.”

The Company has identified a successor and expects to announce the appointment before Jason Appel concludes his tenure with goeasy.

Share Repurchases and Dividend Payments

In consideration of recent developments that affected earnings in 2025, the Board of Directors made the decision to suspend the regular quarterly dividend on the Company’s Common Shares and to suspend share repurchases under its normal course issuer bid on an indefinite basis. These actions are aligned with management’s focus on prudently preserving capital and maintaining liquidity.

Forward-Looking Statements

This press release includes forward-looking statements about goeasy, including, but not limited to, its business operations, strategy and expected financial performance and condition. Forward-looking statements include, but are not limited to, statements with respect to forecasts for growth of the consumer loans receivable, annual revenue growth forecasts, strategic initiatives, new product offerings and new delivery channels, anticipated cost savings, planned capital expenditures, anticipated capital requirements and the Company’s ability to secure sufficient capital, liquidity of the Company, plans and references to future operations and results, critical accounting estimates, expected future yields and net charge off rates on loans, the dealer relationships, the size and characteristics of the Canadian non-prime lending market, the continued development of the type and size of competitors in the market. In certain cases, forward-looking statements that are predictive in nature, depend upon or refer to future events or conditions, and/or can be identified by the use of words such as “expect”, “continue”, “anticipate”, “intend”, “aim”, “plan”, “believe”, “budget”, “estimate”, “forecast”, “foresee”, “target” or negative versions thereof and similar expressions, and/or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

Forward-looking statements are based on certain factors and assumptions, including expected growth, results of operations and business prospects and are inherently subject to, among other things, risks, uncertainties and assumptions about the Company’s operations, economic factors and the industry generally. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those expressed or implied by forward-looking statements made by the Company. Some important factors that could cause actual results to differ materially from those expressed in the forward-looking statements include, but are not limited to, goeasy’s ability to enter into new lease and/or financing agreements, collect on existing lease and/or financing agreements, open new locations on favourable terms, offer products which appeal to customers at a competitive rate, respond to changes in legislation, react to uncertainties related to regulatory action, raise capital under favourable terms, compete, manage the impact of litigation (including shareholder litigation), control costs at all levels of the organization and maintain and enhance the system of internal controls.

The Company cautions that the foregoing list is not exhaustive. These and other factors could cause actual results to differ materially from our expectations expressed in the forward-looking statements, and further details and descriptions of these and other factors are disclosed in the Company’s Management’s Discussion and Analysis (“MD&A”) for the year ended December 31, 2025, and for the quarter ended June 30, 2026 including under the section entitled “Risk Factors”.

The reader is cautioned to consider these, and other factors carefully and not to place undue reliance on forward-looking statements, which may not be appropriate for other purposes. The Company is under no obligation (and expressly disclaims any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise, unless required by law.

The Company particularly cautions that the Q3 2026 outlook and full year 2026 commentary presented above under the heading “Updated 2026 Outlook” (the “2026 Outlook Information”) constitutes forward-looking information and that in formulating its outlook, the Company makes a series of assumptions, which include, but are not limited to, assumptions about Environmental Conditions (Stability in the macroeconomic environment; Continued demand for non-prime credit across); Portfolio Growth (Loan originations adjust as underwriting criteria are tightened, particularly within indirect channels); Liquidity & Funding (The Company prioritizes liquidity and covenant compliance; Continued access to funding at acceptable rates; Continued strong free cash flow from its existing portfolio); Revenue Yield (Portfolio yield expected to be negatively impacted by bad debts on interest receivable; Business mix shift to include more unsecured personal loan originations at higher yields; Total portfolio yield and net charge off as a percentage of gross consumer loans receivable on its lending products are as estimated in the Company’s budget and strategic plan); Credit Performance (Net charge offs as a percentage of gross consumer loans receivable perform in line with the Company’ budget and forecasts generated through the use of its proprietary credit and underwriting models; The mixture of customers acquired through each of the Company’s acquisition channels and the mixture of new and existing borrowers are as estimated in the Company’s forecast); Investment Performance (No material changes are assumed in the fair value of investments, and no forecast is made regarding the timing of realization of the investment portfolio); and Mergers and Acquisitions (No mergers or acquisitions are contemplated within the outlook period). These assumptions and expectations are subject to a number of risks, including the following, as well as those set out the section entitled “Risk Factors” in the Company’s MD&A: Environmental & Market Conditions (Uncertainty in consumer demand or broader economic conditions may adversely impact loan originations and portfolio performance; Deterioration in employment levels or economic stability could negatively affect credit performance and increase net charge off rates; Competitive dynamics or pricing pressures may impact margins and growth); Access to Capital & Funding (The Company’s ability to access capital on acceptable terms and maintain adequate liquidity to support operations and strategic priorities); Regulatory Environment (Changes to laws and regulations governing consumer lending that could impact product offerings, pricing or operations); Credit Performance (A material increase in net charge off as a percentage of gross consumer loans receivable beyond expectations, including adverse performance from prior vintages or new originations); and Operating Execution (The Company’s ability to successfully execute on its Action Plan, including underwriting changes, and operating model alignment and platform consolidation; Risks associated with transitioning originations and customer portfolios toward the easyfinancial platform). The 2026 Outlook Information constitutes targets established by the Company and is subject to change as plans and business conditions vary. Accordingly, investors are cautioned not to place undue reliance on the 2026 Outlook Information. Actual results may differ materially.

About goeasy

goeasy Ltd. is a leading Canadian provider of non-prime consumer lending solutions, offering a suite of financial products through its easyfinancial, easyhome, and LendCare brands. goeasy offers unsecured and secured instalment loans, point-of-sale financing, and lease-to-own merchandise through its omni-channel model, which spans online, mobile, and hundreds of locations nationwide.

Driven by its team members’ dedication to expand access to credit for underserved communities and helping customers strengthen their financial futures, goeasy has proudly served more than 1.6 million customers while building an award-winning culture. Shares of goeasy Ltd. are listed on the Toronto Stock Exchange (TSX) under the symbol GSY. For more information, visit www.goeasy.com.

For investor inquiries, contact:

James Obright
Senior Vice President, Investor Relations & Capital Markets
investor_relations@goeasy.com

For media inquiries, contact:
mediainquiries@goeasy.com

Notes:

1 These are non-IFRS ratios. Refer to “Non-IFRS Measures and Other Financial Measures” section in this press release.

2 These are non-IFRS measures. Refer to “Non-IFRS Measures and Other Financial Measures” section in this press release.

3 These are capital management measures. Refer to “Non-IFRS Measures and Other Financial Measures” section in this press release.

4 These are supplementary financial measures. Refer to “Non-IFRS Measures and Other Financial Measures” section in this press release.

 

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(Unaudited)

(Expressed in thousands of Canadian dollars)

As At

As At

June 30,

December 31,

2026

2025

ASSETS 

Cash 

312,100

152,661

Accounts receivable

37,544

42,361

Prepaid expenses

9,601

9,159

Income taxes recoverable

139,504

90,559

Consumer loans receivable, net 

4,647,742

5,155,360

Investments 

23,117

29,103

Lease assets, net

30,523

36,656

Derivative financial assets 

52,429

11,146

Deferred income tax assets 

28,269

22,250

Property and equipment, net

26,201

30,788

Right-of-use assets, net

52,431

52,510

Intangible assets, net

102,371

104,142

Goodwill

21,310

21,310

TOTAL ASSETS

5,483,142

5,758,005

LIABILITIES AND SHAREHOLDERS’ EQUITY

Liabilities

Revolving credit facility

(3,031)

175,052

Accounts payable and other liabilities 

126,121

107,842

Dividends payable 

23,398

Unearned revenue

30,317

31,219

Accrued interest payable

68,811

68,533

Deferred income tax liabilities 

3,887

5,367

Lease liabilities 

58,972

59,451

Secured borrowings 

54,608

88,783

Revolving securitization warehouse facilities 

610,907

611,015

Derivative financial liabilities 

9,683

46,107

Notes payable 

3,726,742

3,690,818

TOTAL LIABILITIES

4,687,017

4,907,585

Shareholders’ equity

Share capital 

431,206

430,325

Contributed surplus

27,708

26,782

Accumulated other comprehensive loss

(32,346)

(13,367)

Retained earnings

369,557

406,680

TOTAL SHAREHOLDERS’ EQUITY

796,125

850,420

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

5,483,142

5,758,005

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)

(Unaudited)

(Expressed in thousands of Canadian dollars, except earnings (loss) per share)

Three Months Ended

Six Months Ended

June 30,

June 30,

June 30,

June 30,

2026

2025

2026

2025

Restated

Restated

REVENUE

Interest income

305,493

328,523

623,403

637,414

Lease revenue

19,198

21,822

39,243

44,064

Commissions earned

61,391

73,621

131,454

141,808

Charges and fees

3,954

7,383

8,793

12,986

390,036

431,349

802,893

836,272

OPERATING EXPENSES

BAD DEBTS

179,658

142,742

446,858

287,764

OTHER OPERATING EXPENSES

Salaries and benefits

49,646

52,112

102,310

101,575

Share-based compensation 

3,075

5,706

2,013

10,147

Technology costs

10,970

12,583

22,340

24,803

Underwriting and collections

7,592

8,671

16,977

15,833

Occupancy

5,424

5,330

11,138

11,002

Advertising and promotion

2,096

8,338

5,359

17,024

Restructuring charges

4,763

Other expenses

12,167

7,567

22,857

15,249

90,970

100,307

187,757

195,633

DEPRECIATION AND AMORTIZATION

Depreciation of lease assets

6,270

6,947

12,755

13,930

Amortization of intangible assets

5,599

5,655

11,124

11,301

Depreciation of right-of-use assets

5,351

5,292

10,693

10,589

Depreciation of property and equipment

2,575

2,665

5,217

5,262

19,795

20,559

39,789

41,082

TOTAL OPERATING EXPENSES

290,423

263,608

674,404

524,479

OPERATING INCOME

99,613

167,741

128,489

311,793

OTHER LOSS 

(5,986)

FINANCE COSTS 

(78,426)

(43,033)

(171,589)

(132,684)

INCOME BEFORE INCOME TAXES

21,187

124,708

(49,086)

179,109

INCOME TAX EXPENSE (RECOVERY) 

Current

6,326

33,884

(12,582)

64,779

Deferred

(1,005)

(628)

619

(15,831)

5,321

33,256

(11,963)

48,948

NET INCOME (LOSS) 

15,866

91,452

(37,123)

130,161

BASIC EARNINGS PER SHARE 

0.96

5.55

(2.26)

7.83

DILUTED EARNINGS PER SHARE 

0.96

5.49

(2.26)

7.73

 

SUMMARY OF FINANCIAL RESULTS BY REPORTABLE SEGMENT

(Expressed in thousands of Canadian dollars, except earnings per share)

Three Months Ended June 30, 2026

easyfinancial

easyhome

Corporate

Total

Revenue

Interest income

291,499

13,994

305,493

Lease revenue

19,198

19,198

Commissions earned

57,340

4,051

61,391

Charges and fees

3,183

771

3,954

352,022

38,014

390,036

Operating expenses 

Bad debts

171,884

7,774

179,658

Other operating expenses

54,720

12,174

24,076

90,970

Depreciation and amortization

9,972

8,274

1,549

19,795

236,576

28,222

25,625

290,423

Operating income (loss)

115,446

9,792

(25,625)

99,613

Other loss

Finance costs

(78,426)

Income before income taxes

21,187

Income tax expense

5,321

Net income

15,866

Diluted earnings per share

0.96

Three Months Ended June 30, 2025 

(As restated) 

easyfinancial

easyhome

Corporate

Total

Revenue

Interest income

317,396

11,127

328,523

Lease revenue

21,822

21,822

Commissions earned

69,812

3,809

73,621

Charges and fees

6,684

699

7,383

393,892

37,457

431,349

Operating expenses 

Bad debts

137,429

5,313

142,742

Other operating expenses

64,178

13,253

22,876

100,307

Depreciation and amortization

9,952

8,966

1,641

20,559

211,559

27,532

24,517

263,608

Operating income (loss)

182,333

9,925

(24,517)

167,741

Other income

Finance costs

(43,033)

Income before income taxes

124,708

Income tax expense

33,256

Net income

91,452

Diluted earnings per share

5.49

Six Months Ended June 30, 2026

easyfinancial

easyhome

Corporate

Total

Revenue

Interest income

595,081

28,322

623,403

Lease revenue

39,243

39,243

Commissions earned

123,346

8,108

131,454

Charges and fees

7,250

1,543

8,793

725,677

77,216

802,893

Operating expenses 

Bad debts

428,683

18,175

446,858

Other operating expenses

118,628

24,878

44,251

187,757

Depreciation and amortization

19,888

16,762

3,139

39,789

567,199

59,815

47,390

674,404

Operating income (loss)

158,478

17,401

(47,390)

128,489

Other loss

(5,986)

Finance costs

(171,589)

Loss before income taxes

(49,086)

Income taxes (recovery)

(11,963)

Net loss

(37,123)

Diluted loss per share

(2.26)

Six Months Ended June 30, 2025

(As restated) 

easyfinancial

easyhome

Corporate

Total

Revenue

Interest income

615,804

21,610

637,414

Lease revenue

44,064

44,064

Commissions earned

134,437

7,371

141,808

Charges and fees

11,532

1,454

12,986

761,773

74,499

836,272

Operating expenses 

Bad debts

277,895

9,869

287,764

Other operating expenses

125,705

27,177

42,751

195,633

Depreciation and amortization

19,688

18,030

3,364

41,082

423,288

55,076

46,115

524,479

Operating income (loss)

338,484

19,423

(46,115)

311,793

Other income

Finance costs

(132,684)

Income before income taxes

179,109

Income taxes

48,948

Net income

130,161

Diluted earnings per share

7.73

SUMMARY OF FINANCIAL RESULTS AND KEY PERFORMANCE INDICATORS

Three Months Ended

($ in 000’s except earnings per share and percentages)

June 30,

2026

June 30,

2025

(As restated)

Variance

$ / bps

Variance

% Change

Summary Financial Results

Revenue

390,036

431,349

(41,313)

(9.6 %)

Bad debts

179,658

142,742

36,916

25.9 %

Other operating expenses

90,970

100,307

9,337

(9.3 %)

EBITDA1

113,138

181,354

(68,216)

(37.6 %)

EBITDA margin1

29.0 %

42.0 %

(1,300 bps)

(31.0 %)

Depreciation and amortization

19,795

20,559

(764)

(3.7 %)

Operating income

99,613

167,741

(68,128)

(40.6 %)

Operating margin

25.5 %

38.9 %

(1,340 bps)

(34.4 %)

Finance costs

78,426

43,033

35,393

82.2 %

Effective income tax rate

25.1 %

26.7 %

(160 bps)

(5.8 %)

Net income

15,866

91,452

(75,586)

(82.7 %)

Diluted earnings per share

0.96

5.49

(4.53)

(82.5 %)

Return on receivables

1.2 %

7.3 %

(610 bps)

(83.6 %)

Return on assets

1.1 %

6.7 %

(560 bps)

(83.6 %)

Return on equity

7.9 %

31.4 %

(2,350 bps)

(74.8 %)

Return on tangible common equity1

10.0 %

40.5 %

(3,050 bps)

(75.3 %)

Adjusted Financial Results1

Other operating expenses

97,240

107,162

(9,922)

(9.3 %)

Efficiency ratio

25.5 %

25.6 %

(10 bps)

(0.4 %)

Operating income

102,888

171,108

(68,220)

(39.9 %)

Operating margin

26.4 %

39.7 %

(1,330 bps)

(33.5 %)

Net income

16,768

73,366

(56,598)

(77.1 %)

Diluted earnings per share

1.02

4.40

(3.38)

(76.8 %)

Return on receivables

1.3 %

5.9 %

(460 bps)

(78.0 %)

Return on assets

1.2 %

5.3 %

(410 bps)

(77.4 %)

Return on equity

8.4 %

25.2 %

(1,680 bps)

(66.7 %)

Return on tangible common equity

9.2 %

31.7 %

(2,250 bps)

(71.0 %)

Key Performance Indicators

Segment Financials

easyfinancial revenue

352,022

393,892

(41,870)

(10.6 %)

easyfinancial operating margin

32.8 %

46.3 %

(1,350 bps)

(29.2 %)

easyhome revenue

38,014

37,457

557

1.5 %

easyhome operating margin

25.8 %

26.5 %

(70 bps)

(2.6 %)

Portfolio Indicators

Gross consumer loans receivable

5,000,735

5,107,648

(106,913)

(2.1 %)

Growth in consumer loans receivable

(362,721)

312,261

(674,982)

(216.2 %)

Gross loan originations

272,060

903,718

(631,658)

(69.9 %)

Total yield on consumer loans (including ancillary products)1

28.3 %

31.7 %

(340 bps)

(10.8 %)

Net charge offs as a percentage of average gross consumer loans receivable1

16.7 %

8.7 %

800 bps

91.6 %

Cash provided by operations before net principal written1

585,360

489,103

96,257

19.7 %

Potential monthly leasing revenue1

5,511

6,478

(967)

(14.9 %)

 

Six Months Ended

($ in 000’s except earnings per share and percentages)

June 30,

2026

June 30,

2025

(As restated)

Variance

$ / bps

Variance

% Change

Summary Financial Results

Revenue

802,893

836,272

(33,379)

(4.0 %)

Bad debts

446,858

287,764

159,094

55.3 %

Other operating expenses

187,757

195,632

(7,875)

(4.0 %)

EBITDA1

149,537

338,945

(189,408)

(55.9 %)

EBITDA margin1

18.6 %

40.5 %

(2,190 bps)

(54.1 %)

Depreciation and amortization

39,789

41,082

(1,293)

(3.1 %)

Operating income

128,489

311,793

(183,304)

(58.8 %)

Operating margin

16.0 %

37.3 %

(2,130 bps)

(57.1 %)

Other income (loss)

(5,986)

(5,986)

(100.0 %)

Finance costs

171,589

132,684

38,905

29.3 %

Effective income tax rate

24.4 %

27.3 %

(290 bps)

(10.8 %)

Net income (loss)

(37,123)

130,161

(167,284)

(128.5 %)

Diluted earnings (loss) per share

(2.26)

7.73

(9.99)

(129.2 %)

Return on receivables

(1.4 %)

5.4 %

(680 bps)

(125.9 %)

Return on assets

(1.3 %)

4.8 %

(610 bps)

(127.1 %)

Return on equity

(9.1 %)

22.2 %

(3,130 bps)

(141.0 %)

Return on tangible common equity1

(8.7 %)

29.0 %

(3,770 bps)

(130.0 %)

Adjusted Financial Results1

Other operating expenses

195,749

209,377

(13,628)

(6.5 %)

Efficiency ratio

25.0 %

25.9 %

(90 bps)

(3.5 %)

Operating income

139,802

318,527

(178,725)

(56.1 %)

Operating margin

17.4 %

38.1 %

(2,070 bps)

(54.3 %)

Net income (loss)

(14,546)

132,715

(147,261)

(111.0 %)

Diluted earnings (loss) per share

(0.88)

7.88

(8.76)

(111.2 %)

Return on receivables

(0.6 %)

5.5 %

(610 bps)

(110.9 %)

Return on assets

(0.5 %)

4.9 %

(540 bps)

(110.2 %)

Return on equity

(3.6 %)

22.7 %

(2,630 bps)

(115.9 %)

Return on tangible common equity

(3.9 %)

28.5 %

(3,240 bps)

(113.7 %)

Key Performance Indicators

Segment Financials

easyfinancial revenue

725,677

761,773

(36,095)

(4.7 %)

easyfinancial operating margin

21.8 %

44.4 %

(2,260 bps)

(50.9 %)

easyhome revenue

77,216

74,499

(2,717)

3.6 %

easyhome operating margin

22.5 %

26.1 %

(360 bps)

(13.8 %)

Portfolio Indicators

Gross consumer loans receivable

5,000,735

5,107,648

(106,913)

(2.1 %)

Growth in consumer loans receivable

(512,732)

505,211

(1,017,943)

(201.5 %)

Gross loan originations

823,374

1,580,488

(757,114)

(47.9 %)

Total yield on consumer loans (including ancillary products)1

28.1 %

31.5 %

(340 bps)

(10.7 %)

Net charge offs as a percentage of average gross consumer loans receivable1

17.3 %

8.8 %

850 bps

96.0 %

Cash provided by operations before net principal written1

1,145,468

899,850

245,618

27.3 %

Potential monthly leasing revenue1

5,511

6,478

(967)

(14.9 %)

1 EBITDA, adjusted other operating expenses, adjusted operating income, adjusted net income and cash provided by operations before net principal written are non-IFRS measures. EBITDA margin, efficiency ratio, adjusted operating margin, adjusted diluted earnings per share, adjusted return on equity, adjusted return on receivable, adjusted return on assets, reported and adjusted return on tangible common equity, net charge offs as a percentage of average gross consumer loans receivable and total yield on consumer loans (including ancillary products) are non-IFRS ratios. Refer to “Non-IFRS Measures and Other Financial Measures” section in this press release.

Non-IFRS Measures and Other Financial Measures

The Company uses a number of financial measures to assess its performance. Some of these measures are not calculated in accordance with International Financial Reporting Standards (IFRS) as issued by International Accounting Standards Board (IASB), are not identified by IFRS and do not have standardized meanings that would ensure consistency and comparability among companies using these measures. The Company believes that non-IFRS measures are useful in assessing ongoing business performance and provide readers with a better understanding of how management assesses performance. These non-IFRS measures are used throughout this press release and listed below. An explanation of the composition of non-IFRS measures and other financial measures can be found in the Company’s MD&A, available on www.sedarplus.ca.

Adjusted Net Income (Loss) and Adjusted Diluted Earnings (Loss) Per Share

Adjusted net income (loss) is a non-IFRS measure and adjusted diluted earnings (loss) per share is a non-IFRS ratio. Refer to “Key Performance Indicators and Non-IFRS Measures” section on page 44 of the Company’s MD&A for the three and six-month periods ended June 30, 2026. Items used to calculate adjusted net income (loss) and adjusted diluted earnings (loss) per share for the three and six-month periods ended June 30, 2026 and 2025 include those indicated in the chart below:

Three Months Ended

Six Months Ended

 

($ in 000’s except earnings per share)

June 30,

2026

June 30,     2025

(As restated)

June 30,

2026

June 30,     2025

(As restated)

Net income (loss)

15,866

91,452

(37,123)

130,161

Impact of adjusting items

Other operating expenses

Restructuring charges1

4,763

Integration costs2

92

184

Depreciation and amortization

Amortization of acquired intangible assets3

3,275

3,275

6,550

6,550

Other loss (income)4

5,986

Finance costs

Fair value change on prepayment options related to Notes Payable5

(2,048)

(27,974)

11,260

(3,260)

Total pre-tax impact of adjusting items

1,227

(24,607)

28,559

3,474

Income tax impact of above     adjusting items

(325)

6,521

(5,982)

(920)

After-tax impact of adjusting items

902

(18,086)

22,577

2,554

Adjusted net income (loss)

16,768

73,366

(14,546)

132,715

Weighted average number of diluted shares outstanding

16,504

16,673

16,462

16,840

Diluted earnings (loss) per share

0.96

5.49

(2.26)

7.73

Per share impact of adjusting items

0.06

(1.09)

1.38

0.15

Adjusted diluted earnings (loss) per share

1.02

4.40

(0.88)

7.88

Adjusting item related to restructuring charges

1 The Company completed a restructuring exercise in March 2026 and incurred a total of $4.8 million related to severance costs, settlement claims and consulting fees.

Adjusting items related to the LendCare acquisition

2 Integration costs related to representation and warranty insurance costs, and other integration costs related to the acquisition of LendCare.

3 Amortization of the $131 million intangible asset related to the acquisition of LendCare, with an estimated useful life of ten years.

Adjusting item related to other loss

4 For the six-month period ended June 30, 2026, net investment loss was due to fair value changes in the Company’s investments.

Adjusting item related to prepayment options embedded in the Notes Payable

5 For the three and six-month periods ended June 30, 2025 and 2026, the Company recognized a fair value change on the prepayment options related to Notes Payable.

Adjusted Other Operating Expenses and Efficiency Ratio

Adjusted other operating expenses is a non-IFRS measure and efficiency ratio is a non-IFRS ratio. Refer to “Key Performance Indicators and Non-IFRS Measures” section on page 44 of the Company’s MD&A for the three and six-month periods ended June 30, 2026. Items used to calculate adjusted other operating expenses and efficiency ratio for the three and six-month periods ended June 30, 2026 and 2025 include those indicated in the chart below:

Three Months Ended

Six Months Ended

 

($ in 000’s except percentages)

June 30,

2026

June 30,

2025

(As restated)

June 30,

2026

June 30,

2025

(As restated)

Other operating expenses as stated

90,970

100,307

187,757

195,632

Impact of adjusting items1

Other operating expenses

Restructuring charges

(4,763)

Integration costs

(92)

(184)

Depreciation and amortization

Depreciation of lease assets

6,270

6,947

12,755

13,930

Total impact of adjusting items

6,270

6,855

7,992

13,746

Adjusted other operating expenses

97,240

107,162

195,749

209,378

Total revenue

390,036

431,349

802,893

836,272

Less: Bad debts on interest receivable

(8,540)

(13,227)

(19,419)

(26,966)

381,496

418,122

783,474

809,307

Efficiency ratio

25.5 %

25.6 %

25.0 %

25.9 %

1 For explanation of adjusting items, refer to the corresponding “Adjusted Net Income and Adjusted Diluted Earnings Per Share” section.

Adjusted Operating Margin

Adjusted operating margin is a non-IFRS measure and adjusted operating margin is a non-IFRS ratio. Refer to “Key Performance Indicators and Non-IFRS Measures” section on page 44 of the Company’s MD&A for the three and six-month periods ended June 30, 2026. Items used to calculate adjusted operating income (loss) and adjusted operating margins for the three and six-month periods ended June 30, 2026 and 2025 include those indicated in the chart below:

Three Months Ended

 

($ in 000’s except percentages)

June 30,

2026

June 30,

2026 (adjusted)

June 30,

2025

(As restated)

June 30,

2025

(adjusted)

(As restated)

easyfinancial

Operating income (loss)

115,446

115,446

182,332

182,332

Divided by revenue

352,022

352,022

393,892

393,892

easyfinancial operating margin

32.8 %

32.8 %

46.3 %

46.3 %

easyhome

Operating income

9,792

9,792

9,925

9,925

Divided by revenue

38,014

38,014

37,457

37,457

easyhome operating margin

25.8 %

25.8 %

26.5 %

26.5 %

Total

Operating income (loss)

99,613

99,613

167,741

167,741

Other operating expenses

Restructuring charges

Integration costs

92

Depreciation and amortization1

Amortization of acquired intangible assets

3,275

3,275

Adjusted operating income (loss)

99,613

102,888

167,741

171,108

Divided by revenue

390,036

390,036

431,349

431,349

Total operating margin

25.5 %

25.5 %

38.9 %

39.7 %

1 For explanation of adjusting items, refer to the corresponding “Adjusted Net Income and Adjusted Diluted Earnings Per Share” section.

Six Months Ended

 

($ in 000’s except percentages)

June 30,

2026

June 30,

2026 (adjusted)

June 30,

2025

(As restated)

June 30,

2025

(adjusted)

(As restated)

easyfinancial

Operating income (loss)

158,481

158,481

338,484

338,484

Divided by revenue

725,677

725,677

761,773

761,773

easyfinancial operating margin

21.8 %

21.8 %

44.4 %

44.4 %

easyhome

Operating income

17,401

17,401

19,423

19,423

Divided by revenue

77,216

77,216

74,499

74,499

easyhome operating margin

22.5 %

22.5 %

26.1 %

26.1 %

Total

Operating income (loss)

128,489

128,489

311,793

311,793

Other operating expenses

Restructuring charges

4,763

Integration costs

184

Depreciation and amortization1

Amortization of acquired intangible assets

6,550

6,550

Adjusted operating income (loss)

128,489

139,802

311,793

318,527

Divided by revenue

802,893

802,893

836,272

836,272

Total operating margin

16.0 %

17.4 %

37.3 %

38.1 %

1 For explanation of adjusting items, refer to the corresponding “Adjusted Net Income and Adjusted Diluted Earnings Per Share” section.

Earnings before Interest, Taxes, Depreciation and Amortization (“EBITDA”) and EBITDA Margin

EBITDA is a non-IFRS measure, while EBITDA margin is a non-IFRS ratio. Refer to “Key Performance Indicators and Non-IFRS Measures” section on page 44 of the Company’s MD&A for the three and six-month periods ended June 30, 2026. Items used to calculate EBITDA and EBITDA margin for the three and six-month periods ended June 30, 2026 and 2025 include those indicated in the chart below:

Three Months Ended

Six Months Ended

($ in 000’s except percentages)

June 30,

2026

June 30,

2025

(As restated)

June 30,

2026

June 30,

2025

(As restated)

Net income (loss)

15,866

91,452

(37,123)

130,161

Finance cost

78,426

43,033

171,589

132,684

Income tax expense

5,321

33,257

(11,963)

48,948

Depreciation and amortization

19,795

20,559

39,789

41,082

Depreciation of lease assets

(6,270)

(6,947)

(12,755)

(13,930)

EBITDA

113,138

181,354

149,537

338,945

Divided by revenue

390,036

431,349

802,893

836,272

EBITDA margin

29.0 %

42.0 %

18.6 %

40.5 %

Cash Provided by Operating Activities before Net Principal Written

Cash provided by operating activities before net principal written is a non-IFRS measure. Refer to “Key Performance Indicators and Non-IFRS Measures” section on page 44 of the Company’s MD&A for the three and six-month periods ended June 30, 2026. Items used to calculate cash provided by operating activities before net principal written for the three and six-month periods ended June 30, 2026 and 2025 include those indicated in the chart below:

Three Months Ended

Six Months Ended

($ in 000’s)

June 30,

2026

June 30,

2025

(As restated)

June 30,

2026

June 30,

2025

(As restated)

Cash provided by (used in) operating activities

377,905

(274,170)

500,201

(454,482)

Net principal written

207,455

763,273

645,267

1,354,332

Cash provided by operating activities before net principal written

585,360

489,103

1,145,468

899,850

Adjusted Return on Receivables

Adjusted return on receivables is a non-IFRS ratio. Refer to “Key Performance Indicators and Non-IFRS Measures” section on page 44 of the Company’s MD&A for the three and six-month periods ended June 30, 2026. Items used to calculate adjusted return on receivables for the three and six-month periods ended June 30, 2026 and 2025 include those indicated in the chart below:

Three Months Ended

($ in 000’s except percentages)

June 30,

2026

June 30,

2026 

(adjusted)

June 30,

2025

(As restated)

June 30,

2025 

(adjusted)

(As restated)

Net income (loss)

15,866

15,866

91,452

91,452

After-tax impact of adjusting items1

902

(18,086)

Adjusted net income (loss)

15,866

16,768

91,452

73,366

Multiplied by number of periods in a year

X 4  

X 4  

X 4  

X 4  

Divided by average gross consumer loans receivable

5,101,112

5,101,112

4,980,397

4,980,397

Return on receivables

1.2 %

1.3 %

7.3 %

5.9 %

1 For explanation of adjusting items, refer to the corresponding “Adjusted Net Income and Adjusted Diluted Earnings Per Share” section.

Six Months Ended

($ in 000’s except percentages)

June 30,

2026

June 30,

2026 

(adjusted)

June 30,

2025

(As restated)

June 30,

2025 

(adjusted)

(As restated)

Net income (loss)

(37,123)

(37,123)

130,161

130,161

After-tax impact of adjusting items1

22,577

2,554

Adjusted net income (loss)

(37,123)

(14,546)

130,161

132,715

Multiplied by number of periods in a year

X 4/2

X 4/2

X 4/2

X 4/2

Divided by average gross consumer loans receivable

5,277,695

5,277,695

4,846,548

4,846,548

Return on receivables

(1.4 %)

(0.6 %)

5.4 %

5.5 %

1 For explanation of adjusting items, refer to the corresponding “Adjusted Net Income and Adjusted Diluted Earnings Per Share” section.

Adjusted Return on Assets

Adjusted return on assets is a non-IFRS ratio. Refer to “Key Performance Indicators and Non-IFRS Measures” section on page 44 of the Company’s MD&A for the three and six-month periods ended June 30, 2026. Items used to calculate adjusted return on assets for the three and six-month periods ended June 30, 2026 and 2025 include those indicated in the chart below:

Three Months Ended

($ in 000’s except percentages)

June 30,

2026

June 30,

2026 

(adjusted)

June 30,

2025

(As restated)

June 30,

2025 

(adjusted)

(As restated)

Net income (loss)

15,866

15,866

91,452

91,452

After-tax impact of adjusting items1

902

(18,086)

Adjusted net income (loss)

15,866

16,768

91,452

73,366

Multiplied by number of periods in a year

X 4  

X 4  

X 4  

X 4  

Divided by average total assets for the period

5,652,415

5,652,415

5,487,102

5,487,102

Return on assets

1.1 %

1.2 %

6.7 %

5.3 %

1 For explanation of adjusting items, refer to the corresponding “Adjusted Net Income and Adjusted Diluted Earnings Per Share” section.

Six Months Ended

($ in 000’s except percentages)

June 30,

2026

June 30,

2026 

(adjusted)

June 30,

2025

(As restated)

June 30,

2025 

(adjusted)

(As restated)

Net income (loss)

(37,123)

(37,123)

130,161

130,161

After-tax impact of adjusting items1

22,577

2,554

Adjusted net income (loss)

(37,123)

(14,546)

130,161

132,715

Multiplied by number of periods in a year

X 4/2

X 4/2

X 4/2

X 4/2

Divided by average total assets for the period

5,687,611

5,687,611

5,395,080

5,395,080

Return on assets

(1.3 %)

(0.5 %)

4.8 %

4.9 %

1 For explanation of adjusting items, refer to the corresponding “Adjusted Net Income and Adjusted Diluted Earnings Per Share” section.

Adjusted Return on Equity

Adjusted return on equity is a non-IFRS ratio. Refer to “Key Performance Indicators and Non-IFRS Measures” section on page 44 of the Company’s MD&A for the three and six-month periods ended June 30, 2026. Items used to calculate adjusted return on equity for the three and six-month periods ended June 30, 2026 and 2025 include those indicated in the chart below:

Three Months Ended

($ in 000’s except percentages)

June 30,

2026

June 30,

2026 

(adjusted)

June 30,

2025

(As restated)

June 30,

2025 

(adjusted)

(As restated)

Net income (loss)

15,866

15,866

91,452

91,452

After-tax impact of adjusting items1

902

(18,086)

Adjusted net income (loss)

15,866

16,768

91,452

73,366

Multiplied by number of periods in a year

X 4

X 4

X 4

X 4

Divided by average shareholders’ equity for the period

798,682

798,682

1,165,244

1,165,244

Return on equity

7.9 %

8.4 %

31.4 %

25.2 %

1 For explanation of adjusting items, refer to the corresponding “Adjusted Net Income and Adjusted Diluted Earnings Per Share” section.

Six Months Ended

($ in 000’s except percentages)

June 30,

2026

June 30,

2026 

(adjusted)

June 30,

2025

(As restated)

June 30,

2025 

(adjusted)

(As restated)

Net income (loss)

(37,123)

(37,123)

130,161

130,161

After-tax impact of adjusting items1

22,577

2,554

Adjusted net income (loss)

(37,123)

(14,546)

130,161

132,715

Multiplied by number of periods in a year

X 4/2

X 4/2

X 4/2

X 4/2

Divided by average shareholders’ equity for the period

815,928

815,928

1,170,889

1,170,889

Return on equity

(9.1 %)

(3.6 %)

22.2 %

22.7 %

1 For explanation of adjusting items, refer to the corresponding “Adjusted Net Income and Adjusted Diluted Earnings Per Share” section.

Reported and Adjusted Return on Tangible Common Equity

Reported and adjusted return on tangible common equity are non-IFRS ratios. Refer to “Key Performance Indicators and Non-IFRS Measures” section on page 44 of the Company’s MD&A for the three and six-month periods ended June 30, 2026. Items used to calculate reported and adjusted return on tangible common equity for the three and six-month periods ended June 30, 2026 and 2025 include those indicated in the chart below:

Three Months Ended

($ in 000’s except percentages)

June 30,

2026

June 30,

2026

(adjusted)

June 30,

2025

(As restated)

June 30,

2025

(adjusted)

(As restated)

Net income

15,866

15,866

91,452

91,452

Amortization of acquired intangible assets

3,275

3,275

3,275

3,275

Income tax impact of the above item

(868)

(868)

(868)

(868)

Net income before amortization of acquired intangible assets, net of income tax

18,273

18,273

93,859

93,859

Impact of adjusting items1

Other operating expenses

Restructuring charges

Integration costs

92

Other loss

Finance costs

Fair value change on prepayment options related to Notes Payable

(2,048)

(27,974)

Total pre-tax impact of adjusting items

(2,048)

(27,882)

Income tax impact of above adjusting items

543

7,389

After-tax impact of adjusting items

(1,505)

(20,493)

Adjusted net income (loss)

18,273

16,768

93,859

73,366

Multiplied by number of periods in a year

X 4

X 4

X 4

X 4

Average shareholders’ equity

798,682

798,682

1,165,244

1,165,244

Average goodwill

(21,310)

(21,310)

(180,923)

(180,923)

Average acquired intangible assets2

(64,954)

(64,954)

(78,054)

(78,054)

Average related deferred tax liabilities

17,213

17,213

20,684

20,684

Divided by average tangible common equity

729,631

729,631

926,951

926,951

Return on tangible common equity

10.0 %

9.2 %

40.5 %

31.7 %

1 For explanation of adjusting items, refer to the corresponding “Adjusted Net Income and Adjusted Diluted Earnings Per Share” section.

2 Excludes intangible assets relating to software.

Six Months Ended

($ in 000’s except percentages)

June 30,

2026

June 30,

2026

(adjusted)

June 30,

2025

(As restated)

June 30,

2025

(adjusted)

(As restated)

Net income (loss)

(37,123)

(37,123)

130,161

130,161

Amortization of acquired intangible assets

6,550

6,550

6,550

6,550

Income tax impact of the above item

(1,736)

(1,736)

(1,736)

(1,736)

Net income before amortization of acquired intangible assets, net of income tax

(32,309)

(32,309)

134,975

134,975

Impact of adjusting items1

Other operating expenses

Restructuring charges

4,763

Integration costs

184

Other loss

5,986

Finance costs

Fair value change on prepayment options related to Notes Payable

11,260

(3,260)

Total pre-tax impact of adjusting items

22,009

(3,076)

Income tax impact of above adjusting items

(4,246)

816

After-tax impact of adjusting items

17,763

(2,260)

Adjusted net income (loss)

(32,309)

(14,546)

134,975

132,715

Multiplied by number of periods in a year

X 4/2

X 4/2

X 4/2

X 4/2

Average shareholders’ equity

815,928

815,928

1,170,889

1,170,889

Average goodwill

(21,310)

(21,310)

(180,923)

(180,923)

Average acquired intangible assets2

(66,592)

(66,592)

(79,692)

(79,692)

Average related deferred tax liabilities

17,647

17,647

21,118

21,118

Divided by average tangible common equity

745,673

745,673

931,392

931,392

Return on tangible common equity

(8.7 %)

(3.9 %)

29.0 %

28.5 %

1 For explanation of adjusting items, refer to the corresponding “Adjusted Net Income and Adjusted Diluted Earnings Per Share” section.

2 Excludes intangible assets relating to software.

Total Yield on Consumer Loans as a Percentage of Average Gross Consumer Loans Receivable

Total yield on consumer loans as a percentage of average gross consumer loans receivable is a non-IFRS ratio. See description in section “Portfolio Analysis” on page 30 of the Company’s MD&A for the three and six-month periods ended June 30, 2026. Items used to calculate total yield on consumer loans as a percentage of average gross consumer loans receivable for three and six-month periods ended June 30, 2026 and 2025 include those indicated in the chart below:

Three Months Ended

Six Months Ended

($ in 000’s except percentages)

June 30,

2026

June 30,

2025

(As restated)

June 30,

2026

June 30,

2025

(As restated)

Total Company revenue

390,036

431,349

802,893

836,272

Less: Leasing revenue

(20,386)

(23,059)

(41,659)

(46,574)

Less: Bad debts on interest income

(8,540)

(13,227)

(19,419)

(26,965)

Adjusted financial revenue

361,110

395,063

741,815

762,733

Multiplied by number of periods in a year

X 4

X 4

X 4/2

X 4/2

Divided by average gross consumer loans receivable

5,101,112

4,980,397

5,277,695

4,846,548

Total yield on consumer loans as a percentage of average gross consumer loans receivable (annualized)

28.3 %

31.7 %

28.1 %

31.5 %

Net Charge Offs as a Percentage of Average Gross Consumer Loans Receivable

Net charge Offs as a percentage of average gross consumer loans receivable is a non-IFRS ratio. See description in section “Portfolio Analysis” on page 30 of the Company’s MD&A for the three and six-month periods ended June 30, 2026. Items used to calculate net charge Offs as a percentage of average gross consumer loans receivable for the three and six-month periods ended June 30, 2026. and 2025 include those indicated in the chart below:

Three Months Ended

($in 000’s except percentages)

June 30,

2026

June 30,

2025

(As restated)

Net charge offs on gross consumer loans receivable

212,741

108,545

Multiplied by number of periods in a year

X 4

X 4

Divided by average gross consumer loans receivable

5,101,112

4,980,397

Net charge offs as a percentage of average gross consumer loans receivable (annualized)

16.7 %

8.7 %

Six Months Ended

($in 000’s except percentages)

June 30,

2026

June 30,

2025

(As restated)

Net charge offs on gross consumer loans receivable

455,322

213,304

Multiplied by number of periods in a year

X4/2

X4/2

Divided by average gross consumer loans receivable

5,277,695

4,846,548

Net charge offs as a percentage of average gross consumer loans receivable (annualized)

17.3 %

8.8 %

Net Principal Written and Percentage Net Principal Written to New Customers

Net principal written (Net loan advances) is a non-IFRS measure. See description in section “Portfolio Analysis” on page 30 of the Company’s MD&A for the three and six-month periods ended June 30, 2026. The percentage of net loan advances to new customers is a non-IFRS ratio. It is calculated as loan originations to new customers divided by the net principal written. The Company uses percentage of net loan advances to new customers, among other measures, to assess the operating performance of its lending business.  Items used to calculate the percentage of net loan advances to new customers for the three-month periods ended for the three and six-month periods ended June 30, 2026 include those indicated in the chart below:

Three Months Ended

Six Months Ended

($ in 000’s)

June 30, 2026

June 30, 2025

June 30, 2026

June 30, 2025

Gross loan originations

272,060

903,718

823,374

1,580,487

Loan originations to new customers

128,567

557,894

441,261

989,843

Loan originations to existing customers

143,493

345,824

382,113

590,644

Less: Proceeds applied to repay existing loans

(64,605)

(140,445)

(178,107)

(226,155)

Net advance to existing customers

78,888

205,379

204,006

364,489

Net principal written

207,455

763,273

645,267

1,354,332

Percentage net advances to new customers

62.0 %

73.1 %

68.4 %

73.1 %

Debt to Adjusted Tangible Equity

Debt to adjusted tangible equity is a capital management measure. Refer to “Financial Condition” section on page 55 of the Company’s MD&A for the three and six-month periods ended June 30, 2026.

Weighted Average Interest Rate

Weighted average interest rate is a supplementary financial measure. It is calculated as the sum of individual loan balance multiplied by interest rate divided by gross consumer loans receivable.

SOURCE goeasy Ltd.

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FADEL and Gournay Consulting Launch New Bynder Connector for Rights Management, Content Tracking and Brand Compliance

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New integration extends Bynder DAM with rights intelligence and AI-powered image and video tracking solutions across the content lifecycle

NEW YORK, Sept. 21, 2026 /PRNewswire/ — FADEL®, a global leader in AI-powered brand compliance, rights management, and licensing solutions, and Gournay Consulting, a premier Bynder partner with deep expertise in DAM integrations and digital content ecosystems, today announced the availability of a new connector integrating Bynder with Brand Vision, FADEL’s brand compliance and digital rights management solution.

Built by Gournay Consulting, the connector integrates Bynder’s digital asset management platform with FADEL Brand Vision’s digital rights management, content tracking, and brand compliance capabilities. Bynder remains the system for managing, organizing, and distributing digital assets, while FADEL Brand Vision provides the rights intelligence associated with those assets – including usage rights, restrictions, and expirations – and extends visibility beyond the DAM to track where rights-managed images and videos appear after distribution. Together, the integration helps organizations manage digital assets and their associated rights in a more connected and governed workflow.

“Brand Vision is designed to keep digital marketing content, including advertisements, logos, images, videos, and product packaging, current, compliant, and on-brand,” explained Devi Gupta, EVP of Marketing at FADEL. “Agreement, rights, and usage restrictions, from models and photographers to music, fonts, and location agreements, are connected to each asset, allowing users to immediately identify whether content is available for a particular campaign. Real-time rights clearance checks confirm distribution uses for a given timeframe, format, and territory.”

The connector brings these capabilities directly into the Bynder DAM experience, allowing users to manage rights and compliance workflows without leaving Bynder. Organizations can:

Confidently reuse content by connecting assets to their corresponding agreements, rights, and usage restrictions.Accelerate campaign execution with automated rights validation before content is published.Reduce corporate risk through proactive expiration management and post-distribution compliance monitoring.Track images and video beyond the DAM across websites, ecommerce platforms, social media, and other digital channels.Improve transparency and collaboration with a connected source of truth for content and rights across global teams and agencies.Govern AI-related content by managing AI rights, restrictions, and AI-generated content.

Extending Content Governance Beyond the DAM

For global brands, managing an asset within a DAM is only part of the content lifecycle. Once content is distributed to websites, ecommerce platforms, and social media, organizations need visibility into where it appears and whether its continued use complies with associated rights.

FADEL extends that governance beyond the DAM with digital tracking for both images and video, backed by more than five years of R&D investment in AI-based media matching technology and 100+ targeted crawlers. Brand Vision can even identify image and video within video, helping brands find rights-managed footage when it has been incorporated into other content. Deployed across more than 50 brands in over seven countries, the technology can monitor content across websites, major ecommerce sites, and social channels while supporting automated takedown workflows and smarter rights renewals based on actual usage insights.

“The Bynder connector empowers clients to explore creativity and innovation with greater control,” shared Benjamin Gournay, Managing Partner at Gournay Consulting. “By connecting Bynder with FADEL Brand Vision, we’re adding an important governance layer that helps teams collaborate more effectively, accelerate campaign delivery, and protect brand integrity throughout the content lifecycle.”

See the Connector in Action

FADEL and Gournay Consulting recently demonstrated the connector during Bynder Connect Amsterdam 2026. Organizations interested in seeing how the integration works can request a 1:1 meeting and demonstration by emailing solutions@fadel.com.

Product details are also available through the Bynder Marketplace.

About Gournay Consulting

Gournay Consulting helps brands, retailers, and distributors design, build, and operate the connected ecosystems behind modern commerce. With expertise spanning PIM, DAM, CMS, GDSN, digital shelf, and commerce, Gournay supports the full technology lifecycle, from strategy and architecture through implementation, integration, optimization, and managed services. Trusted across hundreds of engagements, Gournay combines business, data, and technical expertise to solve complex challenges, automate workflows, connect platforms, and create scalable foundations for evolving channels, markets, and AI-enabled experiences. For more information, visit gournayconsulting.com.

About FADEL

FADEL delivers AI-enabled software to manage brand compliance and IP licensing with precision and confidence. Its cloud-based platforms enable organizations to govern content compliance at scale, streamline complex licensing and royalty processes, and reduce risk across global operations. Trusted by many of the world’s most recognized brands in media, publishing, consumer goods, high-tech, and advertising, FADEL empowers teams to protect their brand, accelerate licensing workflows, and operate with clarity in an increasingly complex digital ecosystem. For more information, visit fadel.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/fadel-and-gournay-consulting-launch-new-bynder-connector-for-rights-management-content-tracking-and-brand-compliance-302883812.html

SOURCE FADEL

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LIV Completes Seamless Migration and Upgrade of All 40 Tegris Fire Department Customers and Hundreds of Inspection Companies in Under 90 Days

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LIV brings all customers, inspection companies, premises, and users live on its best-in-class Third-Party Inspections application following its acquisition of Tegris

POCATELLO, Idaho, Sept. 21, 2026 /PRNewswire-PRWeb/ — LIV, the industry-leading fire prevention and compliance management platform for Authorities Having Jurisdiction (AHJs), including fire prevention bureaus, municipalities, and regulatory agencies, today announced that it completed the upgrade of all Tegris fire department and AHJ customers following its acquisition of the company. These 40 Tegris customers, along with more than 450 new inspection companies, are now live on LIV’s Third-Party Inspections application, the full upgrade completed in under 90 days.

“The transition from Tegris to LIV has been great,” said Chris Pedersen, Chelan County Fire Marshal’s Office. “All our data was transferred, and the onboarding team made this as seamless as any software change we’ve had.”

LIV seamlessly migrated over 220,000 inspection reports, 10,000 premises, 20,000 documents, and 80,000 deficiency records — along with every inspection company account and 5,000+ users — to the LIV platform with zero data loss or duplication. This included 15 years of historical inspection data and reports, integrated and mapped to LIV’s modern data architecture. All customers kept their compliance operations running without downtime, while benefiting from LIV’s enhanced functionality, intuitive user experience, world-class security and reliability, and industry-best service and product support. LIV’s team partnered with customers and inspection companies during each step of the process, providing onboarding, customer and partner education, and ongoing enablement from dedicated Customer Success and Inspection Partner Success teams.

LIV’s platform already included the full range of core functionality Tegris customers relied on, along with robust capabilities not previously available to them. LIV also identified features in the Tegris platform that LIV did not yet offer — inspection company self-attestation of certification, in-submission deficiency resolution, and Stripe Tax integration. These features were developed, tested, and released to general availability on the LIV platform within a matter of weeks.

During the same time period of the Tegris customer upgrade, LIV also onboarded over 25 new LIV fire department customers unrelated to the acquisition, launched AI Report Upload capabilities, and on Aug. 10, announced general availability of Fire Department Inspections — a new application for streamlining annual and scheduled inspections conducted by a fire department’s own inspection teams.

“LIV is the fastest-growing provider in fire prevention and compliance because we have the strongest platform in the market, we invest relentlessly in innovation and customer success, and we are committed to the entire fire prevention ecosystem — fire departments, inspection companies, and property owners,” said Ben Kaplan, CEO of LIV. “Our modern, reliable and secure technology enables LIV to not only execute on strategic product roadmap development and continuously deliver new feature enhancements, but also efficiently and effectively onboard fire departments and inspection companies. This is matched by the proven execution of our 60-person team dedicated to our customers and driven by our mission to improve community safety.”

“Tegris customers did not just move to a new platform, they upgraded to one with more capabilities, without losing a single feature they valued,” said Jim Ribail, Vice President, Strategic Accounts at LIV. “That is what a real commitment to customers looks like, not just delivering the platform, but making sure every user — at fire departments, inspection companies, and premises — had hands-on training and dedicated support from our team throughout the transition.”

“The transition from Tegris to LIV has been great,” said Chris Pedersen, Chelan County Fire Marshal’s Office. “All our data was transferred, and the onboarding team made this as seamless as any software change we’ve had.”

“We’re excited about the City of Moses Lake and the Moses Lake Fire Department’s transition to the LIV platform,” said Christopher Horton, Building Official and Fire Marshal, City of Moses Lake. “The system is intuitive and easy to use, and LIV’s Inspection Partner Success program will help us strengthen compliance while reducing the time our staff spend on administrative follow-up — allowing them to focus more on the issues that truly need attention. We’re also integrating our own inspections through LIV’s Fire Department Inspections application. Consolidating inspection information from ITM service providers and our own fire department into a single location will give us a far more complete view of building compliance and provide valuable new insight into the fire and life-safety conditions of the buildings and community we serve.”

“With LIV, it’s just a few clicks to get compliance reports done — the system does the heavy lifting, whether that’s AI handling it automatically or a few manual entries,” said Whitney Appleby, AAA Super Clean, an inspection company that previously submitted reports to Tegris and has now onboarded to LIV. “The training videos and webinars make it easy to learn, no matter how comfortable you are with technology. It’s saved us time and given our clients faster, more reliable compliance reporting than we’ve seen anywhere else in this industry.”

About LIV

LIV is the leading provider of purpose-built fire prevention and compliance management software for fire departments and Authorities Having Jurisdiction (AHJs). Founded in 2019, LIV serves more than 350 AHJ customers and 5,000+ ITM contractors, managing both third-party contractor and fire department inspections in one comprehensive, modern, and secure platform.

LIV’s mission is to protect life and property, reduce fire-related risks, and improve community safety. Its flexible, innovative solutions help fire departments, inspection companies, and property owners improve ITM compliance, strengthen fire prevention programs, and deliver better public safety outcomes. To learn more about LIV, visit livsafe.com.

Media Contact

Lauren Chadwick, LIV, 1 6179673600, lauren.chadwick@livsafe.com, livsafe.com

View original content to download multimedia:https://www.prweb.com/releases/liv-completes-seamless-migration-and-upgrade-of-all-40-tegris-fire-department-customers-and-hundreds-of-inspection-companies-in-under-90-days-302884315.html

SOURCE LIV

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Advita Ortho Introduces Axis, a Surgeon Resource for Clinical Research

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New surgeon-focused program builds on more than 20 years of research as Advita expands its clinical data, with new studies presented at ICSES and ISTA

GAINESVILLE, Fla., Sept. 21, 2026 /PRNewswire/ — Advita Ortho, a global medical technology leader, announces the launch of Axis, a clinical research initiative designed to connect shoulder surgeons with an extensive and growing body of clinical evidence shaping the future of shoulder arthroplasty.

Axis is centered around more than 20 years of shoulder data encompassing over 25,000 patients from 45 clinical sites around the world. This collection of data has led to more than 250 peer-reviewed publications, as well as dozens of first-to-market product innovations.

“Clinical research is the foundation of Advita’s technologies and innovations,” said Chris Roche, Advita Senior Vice President, Extremities. “With Axis, we are sharing the results of more than 20 years of collaboration between surgeon researchers, clinical coordinators and Advita’s development team, distilling the findings of our most high-impact studies in a new, more approachable format. Our goal is to amplify the most generalizable conclusions from our published studies and provide a forum for the researchers to explain why they performed a given study and discuss how they’ve integrated these findings in their clinical practice – ultimately allowing surgeons to help improve clinical outcomes and better serve patients.”  

Central to the program is the new Axis website, which presents the key findings from the Equinoxe® multicenter international research team in a straightforward way. It features “ORbits” – summaries of the published studies including the clinical questions the researchers set out to answer, as well as video interviews sharing the authors’ perspectives about the study. Surgeons can also find information on the Axis Research Council, clinical site locations, how data is collected and why clinical evidence is important.

“The strength of your conclusions in research is based on the number of patients in your study, because then it’s much more robust, generalizable and reliable,” said Joseph Zuckerman, MD, a research team member. “And we have that now. When we report the results of a specific outcome, we’re not reporting 30, 40, 50 patients, we’re reporting 300, 400, 1500, 2000 cases. No other orthopedic company has a database this massive with as long a history.”

The launch of Axis comes as Advita expands the clinical evidence behind its innovations, leveraging insights from more than two decades of data to drive research focused on enabling technologies. This week in Vancouver, Canada, at the International Congress of Shoulder and Elbow Surgery (ICSES), Advita will present new research examining some of the most relevant questions in shoulder arthroplasty, including the accuracy and learning curve of computer-assisted navigation, CT-based radiomics and predictive analytics, as well as infection risk and other factors influencing clinical outcomes.

Advita research was also presented last week in Munich, Germany, at the International Society for Technology in Arthroplasty (ISTA), with shoulder and knee studies exploring computer-assisted navigation and implant design, dynamic alignment, machine learning and clinical outcomes.

Advita’s growing body of clinical research demonstrates the company’s continued commitment to generating meaningful evidence, collaborating with surgeons and translating clinical insights into innovations that advance patient care.

Surgeons can subscribe for alerts when new studies are added to the Axis site.  For more information, visit www.advita.com/axis.

About Advita Ortho
Advita Ortho is a global medical device company committed to advancing patients’ lives through innovative orthopedic solutions. We specialize in high-quality implants and a comprehensive suite of integrated surgical technologies that are powered by data, artificial intelligence and machine learning. Offering trusted leadership and clinical expertise, Advita Ortho is uniquely positioned to advance mobility and improve lives worldwide. Learn more at www.advita.com and connect with us on LinkedIn, X and Instagram.

View original content to download multimedia:https://www.prnewswire.com/news-releases/advita-ortho-introduces-axis-a-surgeon-resource-for-clinical-research-302884108.html

SOURCE Advita Ortho, LLC

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