UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-35503 Enova International, Inc. (Exact name of registrant as specified in its charter) Delaware 45-3190813 (State or other jurisdic ...

[PART I. FINANCIAL INFORMATION](index=5&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) Enova's unaudited Q1 2022 financial statements detail balance sheets, income, and cash flows, reflecting asset growth from loan expansion but a decline in net income [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) As of March 31, 2022, total assets increased to $3.05 billion, driven by 81% growth in loans, funded by increased liabilities and long-term debt | Financial Metric | March 31, 2022 ($ thousands) | March 31, 2021 ($ thousands) | December 31, 2021 ($ thousands) | | :--- | :--- | :--- | :--- | | **Total Assets** | **3,047,144** | **2,133,642** | **2,761,483** | | Loans and finance receivables at fair value | 2,231,884 | 1,230,711 | 1,964,690 | | **Total Liabilities** | **1,969,194** | **1,128,034** | **1,668,431** | | Long-term debt | 1,696,751 | 874,514 | 1,384,399 | | **Total Stockholders' Equity** | **1,077,950** | **1,005,608** | **1,093,052** | [Consolidated Statements of Income](index=7&type=section&id=Consolidated%20Statements%20of%20Income) Total revenue grew 48.7% year-over-year to $385.7 million in Q1 2022, but net income declined to $52.4 million due to increased fair value changes and marketing expenses | Metric | Three Months Ended March 31, 2022 ($ thousands) | Three Months Ended March 31, 2021 ($ thousands) | | :--- | :--- | :--- | | Total Revenue | 385,731 | 259,444 | | Net Revenue | 268,689 | 238,366 | | Income from Operations | 90,746 | 123,455 | | Net Income Attributable to Enova | 52,443 | 75,920 | | Diluted EPS | $1.50 | $2.03 | [Consolidated Statements of Cash Flows](index=10&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities increased to $153.5 million, while investing activities used $386.5 million due to loan originations, and financing provided $234.5 million | Cash Flow Activity | Three Months Ended March 31, 2022 ($ thousands) | Three Months Ended March 31, 2021 ($ thousands) | | :--- | :--- | :--- | | Net cash provided by operating activities | 153,539 | 117,028 | | Net cash used in investing activities | (386,495) | (44,454) | | Net cash provided by (used in) financing activities | 234,529 | (67,656) | [Notes to Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Detailed notes explain accounting policies, fair value changes in loans, debt, and income taxes, highlighting the company's single segment operation and increased borrowing capacity - The company utilizes the **fair value option** on its entire loan and finance receivable portfolio, with changes in fair value recorded in the consolidated income statement[33](index=33&type=chunk) | Revenue Source | Q1 2022 ($ thousands) | Q1 2021 ($ thousands) | | :--- | :--- | :--- | | Consumer loans and finance receivables | 248,547 | 181,737 | | Small business loans and finance receivables | 132,594 | 75,560 | | **Total loans and finance receivables revenue** | **381,141** | **257,297** | - During Q1 2022, the company **amended four securitization facilities** to **increase commitment amounts**, enhancing its borrowing capacity[63](index=63&type=chunk)[64](index=64&type=chunk)[66](index=66&type=chunk)[67](index=67&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=23&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2022 performance, noting a 48.7% revenue increase from loan growth, but a net income decline due to higher marketing and fair value adjustments, alongside strong liquidity [Business Overview](index=23&type=section&id=Business%20Overview) Enova is a technology-driven online financial services provider for consumers and small businesses, leveraging proprietary analytics and machine learning to extend credit - The company extended approximately **$1.0 billion in credit or financing** to borrowers during the three months ended March 31, 2022[108](index=108&type=chunk) - Since its 2004 launch, Enova has completed approximately **56.0 million customer transactions** and collected over **61 terabytes of customer behavior data**[108](index=108&type=chunk) - Approximately **90% of the models** used in the company's analytical environment are **machine learning-enabled**[110](index=110&type=chunk) [Results of Operations](index=26&type=section&id=Results%20of%20Operations) Total revenue increased 48.7% year-over-year to $385.7 million in Q1 2022, driven by loan originations, but net income fell to $52.4 million due to significantly higher marketing expenses and fair value adjustments | Metric | Q1 2022 | Q1 2021 | | :--- | :--- | :--- | | Total Revenue | $385.7 million | $259.4 million | | Net Income | $52.4 million | $75.9 million | | Diluted EPS | $1.50 | $2.03 | - Marketing expense increased significantly to **$93.2 million** in Q1 2022 from **$28.6 million** in Q1 2021, reflecting efforts to capture increasing market demand[160](index=160&type=chunk) | Portfolio | Fair Value as of March 31, 2022 | Fair Value as of March 31, 2021 | | :--- | :--- | :--- | | Consumer Loans (Combined) | $948.8 million | $588.6 million | | Small Business Loans | $1,297.5 million | $649.3 million | | **Total (Combined)** | **$2,246.3 million** | **$1,237.9 million** | [Liquidity and Capital Resources](index=34&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintained strong liquidity with $227.8 million in cash and $402.5 million in undrawn funding capacity, while repurchasing $74.0 million of common stock - As of March 31, 2022, the company had **$402.5 million in committed and undrawn funding capacity** and believes it has sufficient liquidity for the foreseeable future[170](index=170&type=chunk) - The company has **no recourse debt obligations due until September 2024**[170](index=170&type=chunk) - During Q1 2022, the company repurchased **$74.0 million of common stock**. A new **$100.0 million share repurchase program** was authorized in February 2022, replacing the prior one[175](index=175&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=37&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports no material changes in its exposure to market risk since its 2021 fiscal year-end - There have been **no material changes** in the company's exposure to market risk since the fiscal year ended December 31, 2021[188](index=188&type=chunk) [Item 4. Controls and Procedures](index=37&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2022, with no material changes to internal control over financial reporting during the quarter - Management, including the CEO and CFO, concluded that as of March 31, 2022, the company's **disclosure controls and procedures are effective**[190](index=190&type=chunk) - **No material changes** in internal control over financial reporting occurred during the quarter[191](index=191&type=chunk) [PART II. OTHER INFORMATION](index=39&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=39&type=section&id=Item%201.%20Legal%20Proceedings) Details a 2018 lawsuit by the Commonwealth of Virginia against a subsidiary for alleged consumer protection violations, which the company is vigorously defending - The company is defending a lawsuit filed by the Commonwealth of Virginia in 2018 against its subsidiary, NC Financial Solutions of Utah, LLC, alleging violations of the Virginia Consumer Protection Act, which the company believes are **without merit**[78](index=78&type=chunk)[194](index=194&type=chunk) [Item 1A. Risk Factors](index=39&type=section&id=Item%201A.%20Risk%20Factors) The company states there have been no material changes to the risk factors previously disclosed in its 2021 Annual Report on Form 10-K - There have been **no material changes** from the Risk Factors described in the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021[194](index=194&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=39&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q1 2022, the company repurchased 1,947,537 shares for $78.8 million and authorized a new $100 million share repurchase program | Period | Total Shares Purchased | Average Price Per Share | | :--- | :--- | :--- | | January 2022 | 757,900 | $41.27 | | February 2022 | 668,337 | $40.74 | | March 2022 | 521,300 | $38.85 | | **Total** | **1,947,537** | **$40.44** | - On February 9, 2022, the Board of Directors authorized a new **share repurchase program for up to $100.0 million** through June 30, 2023, replacing the prior 2021 Authorization[196](index=196&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-35503 Enova International, Inc. (Exact name of registrant as specified in its charter) Delaware 45-3190813 (State or other jurisdiction of incorpo ...

Company Overview - Enova is a leading financial technology company providing online financial services, founded in 2004[6] - The company has served over 73 million customers since its inception[6] - Enova offers a total of 10 products through its AI and machine learning powered lending platform[6] - As of 2021, Enova's revenue reached over $12 billion[6] - Enova has made over $40 billion in loans to date[6] Financial Performance and Shareholder Value - Enova's average annual total shareholder return from 2016-2021 was 27%[8] - Enova's price to 2022 consensus EPS is 74, lower than the Russell 2000 Index at 98 and the S&P 600 Financial Sector Index at 122[9] - In Q4 2021, Enova's ending receivables reached $20 billion[12] - The return on average shareholder's equity was 27%[13] - Enova experienced a 14% quarter-over-quarter increase in revenue in Q4 2021[13] - New customers accounted for 46% of the total in Q4 2021, the highest percentage since 2004[13] Market and Products - 39% of Americans cannot cover an emergency expense of $400[17] - 72% of small businesses that apply for a loan from a large bank get rejected[17] - Enova operates in large non-prime markets, including $156 billion in US consumer loans, $30 billion in Brazil consumer loans, and $232 billion in US SMB loans[18]

Enova International, Inc. (NYSE:ENVA) Q3 2021 Earnings Conference Call October 28, 2021 5:00 PM ET Company Participants Lindsay Savarese - Investor Relations David Fisher - Chief Executive Officer Steve Cunningham - Chief Financial Officer Conference Call Participants David Scharf - JMP Securities John Hecht - Jefferies John Rowan - Janney Operator Good afternoon. And welcome to the Enova International Third Quarter 2021 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-35503 Enova International, Inc. (Exact name of registrant as specified in its charter) Delaware 45-3190813 (State or other jur ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-35503 Enova International, Inc. (Exact name of registrant as specified in its charter) Delaware 45-3190813 (State or other jurisdic ...

Enova International, Inc. (NYSE:ENVA) Q2 2021 Earnings Conference Call July 29, 2021 5:00 PM ET Company Participants Lindsay Savarese - Investor Relations David Fisher - Chief Executive Officer Steve Cunningham - Chief Financial Officer Conference Call Participants David Scharf - JMP Securities John Hecht - Jefferies Operator Good day, and welcome to the Enova International Second Quarter 2021 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s pre ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-35503 Enova International, Inc. (Exact name of registrant as specified in its charter) Delaware 45-3190813 (State or other jurisdi ...

Financial Data and Key Metrics Changes - Revenue in Q1 2021 decreased 2% sequentially and 28% year-over-year, totaling $259 million [8][23] - Adjusted EBITDA rose 278% year-over-year to $137 million, marking a first-quarter record [8] - Adjusted EPS increased more than 8 times to $2.20, also a first-quarter record [8][43] - Total company originations were $506 million, a 7% increase from Q1 2020 [24] Business Line Data and Key Metrics Changes - Small business products represented 55% of the portfolio, with SMB originations increasing 11% sequentially to $322 million [15][25] - Revenue from SMB products increased 17% sequentially and more than tripled year-over-year to $76 million [15][23] - Consumer receivables decreased 9% sequentially and 41% year-over-year, totaling $572 million [25][26] - Consumer originations totaled $184 million, down 25% sequentially and 53% year-over-year [27] Market Data and Key Metrics Changes - U.S. retail sales jumped 9.8% in March 2021, indicating positive economic recovery [14] - Jobless claims dropped sharply to 576,000, a new low since the pandemic began [14] Company Strategy and Development Direction - The company is focusing on increasing its presence in SMB lending, anticipating a surge in demand as the economy reopens [13][15] - The integration of OnDeck is largely complete, with expected annual cost synergies of over $50 million [16][17] - The acquisition of Pangea Universal Holdings aims to enhance the company's offerings in the mobile international money transfer market [18][19] Management's Comments on Operating Environment and Future Outlook - Management expects growth in originations to continue as economic recovery accelerates [14][21] - The company remains committed to helping consumers access credit, with a strong credit quality outlook [22][40] - Management anticipates that consumer spending will increase as the economy reopens, benefiting small businesses [12][13] Other Important Information - The effective tax rate for Q1 2021 was 27%, down from 34% in Q1 2020 [42] - The company ended the quarter with $392 million in cash and marketable securities [43] - The cost of funds for the quarter was 8.6%, reflecting a slight increase from the previous quarter [44] Q&A Session Summary Question: What is the impact of PPP loans on small business demand? - Management noted that demand for small business loans rebounded quickly after the previous round of PPP, but emphasized that PPP primarily supports payroll, not inventory or rent [50] Question: Will marketing spend increase as demand rises? - Management indicated a willingness to spend more on marketing to capture demand, while maintaining discipline in spending [53][54] Question: How does the company view competition in the current environment? - Management observed that competition has decreased, particularly among storefront lenders, which have been significantly impacted by the pandemic [68][69] Question: What is the expected trend for G&A expenses in 2021? - Management expects G&A expenses to decline in absolute dollars and as a percentage of revenue throughout 2021 due to synergies from the OnDeck acquisition [62][63]