Propel Reports Record Quarterly Results and Announces Dividend Increase

Executive Summary

• Propel Holdings reported record Q3 2025 results – revenue $152.1 M (↑30%), net income $15.0 M (↑43%) and Adjusted EBITDA $32.3 M (↑12%).
• The Board approved an 8% increase to the quarterly dividend, raising the annualized payout to C$0.84 per share (C$0.21 for Q4 2025).
• Management reaffirmed FY 2025 financial targets while modestly adjusting operating metrics (e.g., CLAB growth target to 18‑22%).

Key Details

• Revenue: $152,067,808 for the quarter (↑30% YoY); $433,958,089 YTD (↑35%).
• Adjusted EBITDA: $32.3 M Q3 (↑12% YoY); $108.7 M YTD (↑22%).
• Net Income: $15.0 M Q3 (↑43% YoY); $53.6 M YTD (↑54%).
• Diluted EPS: $0.36 USD ($0.49 CAD) Q3; $1.27 USD ($1.77 CAD) YTD.
• Ending Combined Loan & Advance Balance (CLAB): $557.7 M (record, ↑29% YoY).
• Loans & Advances Receivable: $434.8 M (↑31%).
• Total Originations Funded: $205.3 M Q3 (↑37% YoY); 56% from existing customers.
• Dividend: Board increased annualized dividend to C$0.84/share; declared Q4 dividend of C$0.21/share payable Dec 4, 2025 (record date Nov 14, 2025).
• Debt‑to‑Equity: 1.2× at quarter end (down from 1.3× end‑Q4 2024). Undrawn credit capacity ≈ $125 M.
• Updated FY 2025 Targets:
• CLAB growth: 18% → 22%
• Adjusted EBITDA margin: 23% → 25%
• Adjusted Net Income margin: 11.75% → 12.5%
• Adjusted ROE: ≥29%
• Operational Highlights:
• LaaS program added two U.S. states, delivering record revenue.
• UK market (QuidMarket) revenue grew >50% YoY.
• Provision for loan losses = $78.996 M (52% of revenue).
• Conference Call: November 5, 2025 at 8:30 a.m. EST; CEO Clive Kinross and CFO Sheldon Saidakovsky to present results.

Notable Quotes

“Building on a record first half, we are proud to deliver another strong quarter… The best is yet to come,” – Clive Kinross, Chief Executive Officer.