PRA Group reports 11% year-over-year cash collections growth and improved cash efficiency in Q1 2026 amid higher legal costs.
PRA Group (PRAA) reported an 11% year-over-year increase in cash collections for Q1 2026, alongside a rise in cash efficiency to 62% from 61% last year. The company attributed the growth to operational improvements but noted a $15 million increase in legal collection costs during the period.
Management framed the quarter as a strong start to 2026, aligning with its goal to achieve mid-2x net leverage. The company also outlined plans to consolidate its operations onto a single global cloud platform by year-end, aiming to streamline processes and reduce costs.
No immediate market reaction was disclosed in the earnings call summary.