CURO Group Holdings Corp. (CURO): history, ownership, mission, how it works & makes money

A Brief History of CURO Group Holdings Corp. (CURO)

Founding and Early Years

CURO Group Holdings Corp. was founded in 1997 by Don Gayhardt, with its headquarters located in Wichita, Kansas. Initially, the company focused on providing short-term consumer financing solutions, primarily through retail locations.

Growth and Expansion

By 2002, CURO had expanded significantly, operating over 200 locations in the United States and Canada. In 2014, CURO began its expansion into the online lending industry, launching its first online lending platform, which significantly increased its customer base.

Initial Public Offering (IPO)

In 2017, CURO went public, trading on the New York Stock Exchange under the ticker symbol CURO. The IPO raised $200 million, with shares priced at $16 each. This move allowed the company to further invest in technology and expand its service offerings.

Financial Performance

As of the end of 2022, CURO reported total revenue of $605 million, marking a 8% increase compared to $561 million in 2021. The net income for 2022 was $40 million, compared to $35 million in 2021.

Acquisitions

CURO has strategically acquired several companies to enhance its market position. Notable acquisitions include:

• In 2018, CURO acquired Mobiloans, a provider of online installment loans.
• In 2020, CURO purchased CFIN, expanding its footprint in the consumer finance space.

Recent Developments

In 2023, CURO announced plans to enhance its digital offerings, investing $30 million in technology upgrades. The company aims to improve customer experience and streamline operations.

Stock Performance

As of October 2023, CURO's stock price is approximately $10. The market capitalization is around $500 million.

Regulatory Challenges

CURO has faced regulatory scrutiny in various states, impacting its operations. In 2021, a settlement regarding lending practices cost the company approximately $5 million.

Corporate Social Responsibility

The company has focused on responsible lending practices, with initiatives aimed at financial education and consumer protection. CURO has pledged $2 million for community engagement and education programs over the next five years.

A Who Owns CURO Group Holdings Corp. (CURO)

Ownership Structure

CURO Group Holdings Corp. operates within the financial services sector, providing specialized consumer finance solutions. As of October 2023, the ownership structure of CURO includes a mix of institutional investors, retail shareholders, and company management.

Institutional Ownership

Institutional investors hold a significant portion of CURO’s shares. The following table outlines the major institutional holders and their respective ownership stakes:

Executive Ownership

Executive management and board members also have ownership stakes in CURO, emphasizing their alignment with shareholder interests. The following table represents executive ownership:

Retail Ownership

Retail investors also hold a portion of CURO's shares, typically constituting a smaller percentage of the overall ownership. Recent estimates suggest that retail investors account for approximately 20% of the total shares outstanding.

Overall Shares Outstanding

As of October 2023, CURO Group Holdings Corp. has approximately 11,200,000 shares outstanding, with the following breakdown:

• Institutional Investors: 60%
• Executive Management: 10%
• Retail Investors: 20%
• Other Holders: 10%

Recent Stock Performance

CURO's stock has seen fluctuations in the market. As of October 2023, the company's stock price is approximately $8.75, down from a 52-week high of $12.50. The market capitalization stands around $98 million.

Conclusion of Ownership Insights

The ownership landscape of CURO Group Holdings reflects a diverse mix of institutional, executive, and retail investors, with significant stakes held by major investment firms and company executives.

CURO Group Holdings Corp. (CURO) Mission Statement

Overview of CURO Group Holdings Corp.

CURO Group Holdings Corp. is a provider of consumer financial services in the United States and Canada. As of December 31, 2022, the company operates more than 400 locations across the two countries.

Mission Statement

The mission of CURO Group Holdings Corp. is to provide customers with convenient, flexible, and responsible financial solutions. Their commitment is depicted in their aim to deliver superior customer service while ensuring the financial health of their clients.

Core Values

• Integrity: CURO emphasizes honesty and transparency in all interactions.
• Customer Focus: Prioritizing the needs and satisfaction of customers.
• Innovation: Continuously seeking new ways to improve services and solutions.
• Community Engagement: Actively participating in and supporting the communities in which they operate.

Financial Performance

In 2022, CURO reported a revenue of $586 million, which represents an increase of 15% compared to 2021. The net income for the same period was approximately $57 million.

Customer Demographics

The customer base for CURO comprises a diverse demographic, with approximately 60% of their customers earning less than $50,000 annually. The average loan size is around $1,000.

Service Offerings

CURO provides various financial products, including:

• Short-term payday loans
• Installment loans
• Line of credit products
• Prepaid debit cards

Strategic Initiatives

CURO's strategic initiatives include expanding its digital offerings and improving customer engagement through technology. The company has invested $10 million in technology upgrades over the past two years.

Market Position

As of the end of Q3 2023, CURO holds a 3% market share in the alternative financial services industry in the U.S.

Table: Financial Overview (2022)

How CURO Group Holdings Corp. (CURO) Works

Business Model

CURO Group Holdings Corp. operates primarily in the financial services sector, offering a range of consumer financial products, including short-term loans, installment loans, and ongoing credit products. As of the end of 2022, CURO reported a total revenue of $525.5 million, a year-over-year increase from $471.2 million in 2021.

Revenue Streams

CURO generates revenue through various products and services:

• Short-term loans
• Installment loans
• Retail and online lending
• Ancillary products such as credit monitoring services

Client Demographics

The company's primary clientele includes individuals with limited access to traditional credit sources. Approximately 80% of CURO's customers have a credit score below 700. The average loan amount issued is around $1,000, with repayment terms ranging from 6 to 36 months.

Geographic Presence

CURO operates across various states in the U.S. and also has a significant presence in Canada. The breakdown of operations includes:

Financial Performance

In the fiscal year 2022, CURO’s financial metrics demonstrated strong performance:

Risk Management and Compliance

CURO places a strong emphasis on risk management and regulatory compliance to ensure sustainable growth. Key compliance measures include:

• Adherence to state and federal lending regulations
• Robust credit risk assessment processes
• Implementation of fraud prevention protocols

Market Position

CURO is recognized as a leader in the non-bank lending sector. As of 2022, it holds a market share of approximately 15% in the online short-term lending industry in the U.S.

Technological Integration

CURO utilizes advanced technology to enhance customer experience and operational efficiency:

• Online loan applications and approvals
• Automated account management
• Data analytics for risk assessment

Future Outlook

CURO aims for continued growth and expansion in its market. The company plans to invest in technology and enhance its product offerings, expecting a projected revenue increase of 10% in 2023.

How CURO Group Holdings Corp. (CURO) Makes Money

Revenue Streams

CURO Group Holdings Corp. primarily generates revenue from various financial products and services. The main revenue streams include:

• Consumer Lending: CURO provides short-term loans, installment loans, and lines of credit.
• Retail and Online Financing: They offer financing solutions through retail partnerships and online platforms.
• Consumer Credit Solutions: This includes credit cards and other financial products aimed at consumers.

Financial Performance

For the fiscal year ended December 31, 2022, CURO reported the following financial data:

Loan Products Overview

The variety of loan products offered by CURO contributes significantly to its revenue. Below is an overview of the loan products with their respective average loan amounts and interest rates:

Market Position

CURO Group Holdings operates in multiple markets across North America. The total market reach and number of locations as of 2022 are as follows:

Customer Demographics

CURO's customer base primarily consists of the following demographics:

• Income Level: Majority earning between $25,000 to $50,000 annually.
• Age Group: Predominantly aged 25-45 years.
• Credit Score: Typically below 600.

Cost Structure

The cost structure essential for CURO's operations involves:

• Loan Loss Provisions: Approximately 10% of total loans.
• Marketing Expenses: About 5% of revenue.
• Operational Costs: Includes salaries, rent, and utilities, approximately 15% of total revenue.