PRA Group Reports Fourth Quarter and Full Year 2025 Results

Company Achieves 13% Cash Collections Growth Year-over-Year and $1.2 Billion of Purchases for Full Year 2025

Published on Feb. 26, 2026

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PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loan portfolios, today reported its financial results for the fourth quarter and full year of 2025. The company achieved 13% cash collections growth year-over-year and $1.2 billion in portfolio purchases for the full year 2025, despite a net loss of $305 million primarily driven by a non-cash goodwill impairment charge of $413 million in Q3 2025.

Why it matters

PRA Group's results demonstrate its ability to generate strong cash collections and make significant portfolio investments, even in the face of challenges like the non-cash goodwill impairment charge. As a global leader in the nonperforming loan acquisition and collection industry, PRA Group's performance is an important indicator of trends in the broader market.

The details

PRA Group reported total cash collections of $531.7 million in Q4 2025, up 13.6% from the prior year quarter. For the full year, total cash collections increased 12.8% to $2.1 billion. The increase was driven by continued growth in the company's U.S. legal collections channel as well as strong performance in Europe. However, the company reported a net loss of $305.1 million for the full year, primarily due to a $412.6 million non-cash goodwill impairment charge recorded in Q3 2025. Excluding the goodwill impairment and other one-time items, the company reported adjusted net income of $72.6 million for the full year.

  • PRA Group recorded a $412.6 million non-cash goodwill impairment charge in Q3 2025.
  • The company repurchased $10 million of its shares in Q4 2025, bringing the total amount repurchased in 2025 to $20 million.

The players

PRA Group, Inc.

A global leader in acquiring and collecting nonperforming loan portfolios.

Martin Sjolund

President and chief executive officer of PRA Group.

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What they’re saying

“PRA made significant progress in 2025. Since stepping into the CEO role in June, we have further strengthened our U.S. operational platform, built on the track record of our European franchise, and developed our longer-term strategy and key financial goals.”

— Martin Sjolund, President and Chief Executive Officer

“Our adjusted non-GAAP results demonstrate a stable earnings platform, underpinned by a strong and well-diversified capital structure with moderate leverage that has declined in recent quarters.”

— Martin Sjolund, President and Chief Executive Officer

What’s next

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The takeaway

PRA Group's results highlight the company's ability to navigate challenges and continue growing its business, even in the face of a significant non-cash impairment charge. The company's focus on improving its U.S. operations and building on its strong European franchise position it well for future success in the nonperforming loan acquisition and collection industry.