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Propel Holdings Q1 Profit Dips, Revenue Tops Estimates; Dividend Raised

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-- Propel Holdings (PRL.TO) on Monday reported a drop in first-quarter adjusted income despite higher revenue that exceeded analysts' estimates, and hiked its dividend.

The digital lender and fintech company said its adjusted profit, excluding most one-time items, dropped 1.7% to US$23 million, or US$0.54 per share, from US$23.4 million, or US$0.55, in the prior-year period. The result exceeded the consensus analyst estimate of US$0.51 per share, according to FactSet.

Propel's revenue rose by 20% to US$166.1 million in the quarter, compared to US$138.9 million in the prior year period, surpassing FactSet's below the US$164.3 million forecast.

It also said its board of directors raised its dividend from C$0.90 to C$0.96 per share on an annualized basis, effective in the second quarter, the company's eleventh consecutive quarterly dividend increase.

"Looking ahead, we remain focused on executing our growth strategy. We are expanding into new states in the U.S., introducing new products and adding new marketing partners and channels to scale originations further, while leveraging our AI-powered platform to support continued credit performance.," said chief executive Clive Kinross. "We are seeing strong momentum across the business. We are confident in our ability to deliver continued profitable growth in 2026 and beyond."

Shares of the company closed up C$0.49 to C$21.90 on Toronto stock Exchange.

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