PRA Group, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 9, 2026, reporting a return to profitability in the third quarter compared to a large goodwill-impairment-driven loss in the same period of 2025.

Key Highlights

  • Q3 2026 net income attributable to PRA Group: $14,892 thousand ($0.39 diluted per share), compared to a net loss of $407,703 thousand ($10.43 loss per diluted share) in Q3 2025.
  • Nine-month net income attributable to PRA Group: $101,019 thousand ($2.64 diluted per share) for the nine months ended September 30, 2026, versus a loss of $361,670 thousand for the same period of 2025.
  • Total revenues: $286,266 thousand for Q3 2026, down from $311,140 thousand in Q3 2025; nine-month revenues were $972,973 thousand versus $868,447 thousand in the prior-year period.
  • Finance receivables, net: $4,683,573 thousand as of September 30, 2026, compared to $4,688,024 thousand at December 31, 2025.
  • Total assets: $5,228,968 thousand at September 30, 2026, up from $5,103,322 thousand at December 31, 2025.
  • Share repurchases: The company repurchased and cancelled 547 thousand shares of common stock for $10,000 thousand during the first quarter of 2026, according to the equity rollforward.
  • Shares outstanding: 37,659 thousand as of September 30, 2026, down from 38,453 thousand at December 31, 2025.

PRA Group Reports Q3 2026 Profitability After Prior-Year Goodwill Charge

According to the filing, PRA Group (NASDAQ:PRAA) reported net income of $18,605 thousand for the three months ended September 30, 2026, compared to a net loss of $403,966 thousand in the same quarter of 2025. The company disclosed that the prior-year quarter included a goodwill impairment charge of $412,611 thousand, which drove the 2025 loss. No goodwill impairment was recorded in Q3 2026 or the nine months ended September 30, 2026.

Total portfolio revenue for Q3 2026 was $285,086 thousand, comprised of portfolio income of $270,779 thousand and changes in expected recoveries of $14,307 thousand. For the comparable quarter of 2025, total portfolio revenue was $309,907 thousand, which included changes in expected recoveries of $51,358 thousand. The filing reported that total operating expenses for Q3 2026 were $200,363 thousand, compared to $626,687 thousand in Q3 2025, with the prior-year figure inclusive of the goodwill impairment charge. Net interest expense for Q3 2026 was $63,828 thousand, essentially flat versus $64,087 thousand in Q3 2025.

On the balance sheet, total stockholders' equity attributable to PRA Group increased to $1,067,001 thousand at September 30, 2026, from $979,851 thousand at December 31, 2025, the filing stated. Retained earnings grew to $1,353,706 thousand from $1,255,007 thousand over the same period. Total borrowings stood at $3,714,739 thousand as of September 30, 2026, compared to $3,697,338 thousand at year-end 2025. Accumulated other comprehensive loss was $(289,691) thousand at September 30, 2026, versus $(287,015) thousand at December 31, 2025.

What Was Disclosed

PRA Group filed its quarterly report covering the three and nine months ended September 30, 2026, disclosing a return to profitability, balance sheet changes including growth in total assets to $5,228,968 thousand, and share repurchase activity during the period.