Thank you. Good morning, and thank you for joining our fiscal 2027 second quarter earnings call.

We are pleased with our second quarter results, and more importantly, we believe we are well positioned for the remainder of fiscal 2027. This quarter reflects steady progress against our core priorities: growing loan portfolio responsibly, improving credit quality, and maintaining a disciplined approach to expenses.

We achieved adjusted earnings per share of $1.92 for the second quarter. Earnings benefited from a 3.2% increase in revenue, as well as a 7.7% decrease in provision expense.

Importantly, our credit quality continued to improve. We saw improvement in delinquency on both the front end and back end.

Most notably, front-end delinquency decreased from 20% to 18.9%. These trends reinforce our confidence in the health of the portfolio and the strength of our underwriting.

On expenses, we saw improvement in our G&A expense, and we expect to maintain this disciplined approach to expenses going forward. At this time, Tobin Turner, our Chief Operating Officer, and I would like to open up to any questions you may have.

Hey, good morning, guys. Thanks for taking my questions.

Just kind of want to pick your brain on what's going on macro specifically. Just kind of want to get a sense for how sensitive is the consumer, or your consumer, to gas prices?

Is it to the point where you're kind of see delinquencies kind of move in line with gas prices, or are we at the point where gas is less of an important portion of their budget?

Historically we've always seen that gas prices will have an impact on our customer, right? Right now we've been pretty conservative in our underwriting, overall the credit metrics continue to improve.

I guess you could ask, would they have improved by more than they have if we didn't have sort of higher gas prices? It's hard to know that for sure.

In general, with our portfolio, because we've been pretty cautious on our lending, the overall portfolio has seen improvement.

Got it. Then a lot of variables there, hard to pinpoint for sure.

Then in terms of kind of the strategy going forward, obviously, it's paying off, you guys are putting up strong credit results here. Are you kind of happy growing kind of the existing customer base, being a little bit more cautious, call it, on new consumers?

Is that kind of the plan, at least for the near term, given what's going on macroeconomically?

That's right. We're focused right now on the blocking and tackling and getting the fundamentals right of the operations.

Then taking a cautious approach to lending. Right now we're a little looser than we were say in the March quarter.

We're still a lot tighter than we were at this point last year. We may continue to kind of pull on some of those growth levers to increase growth a little bit, but I wouldn't expect any dramatic change in our growth trajectory in the near term.

Got it. Thanks very much for taking my questions.

Thanks, Kyle.

Hey, Johnny. It's Guy here.

Guy. All right.

Most of my questions were answered previous analyst. I was curious can you speak to the competitive environment, and last one would be are you still testing a credit card offering?

Guy, great questions. Hey, this is Tobin Turner speaking.

On the competitive standpoint, we at a macro level still feel very confident. We're pleased with our overall app flow.

We kind of like where we're positioned. We see some opportunities to grow when and as we see fit.

From the competitive standpoint, we feel pretty good. On the credit card front, we're still kind of pilot testing where we are.

We've got enough cards out there that we're kind of getting to see how people behave over time. We really are kind of just letting that initial portfolio bake, and we're probably at least a quarter or two away from trying to make a decision on how to scale that.

Got it. Okay.

Thanks so much.

Thank you for joining our second quarter earnings call, and thanks for your interest.