Financial Performance - GAAP net income of $1.9 million, up from a net loss of $5.2 million year over year, and adjusted net income of $8.9 million, up from an adjusted net loss of $2.8 million year over year[2] - Net income for 2023 was $39.5 million, a significant increase from $3.3 million in 2022, representing a growth of $36.1 million[26] - Q4 2023 Net Income was $1.9 million, a significant improvement from a loss of $5.2 million in Q4 2022[39] - Adjusted Net Income for Full Year 2023 was $43.3 million, compared to $5.0 million in 2022[44] Revenue and Profitability - Total revenue increased by 10.7% year over year, with a 12.9 percentage point decrease in annualized net charge-off rate to 46.4%[2] - Total revenue for 2023 was $508.9 million, compared to $452.9 million in 2022, showing a $56.1 million increase[34] - Total Revenue for Full Year 2023 increased by 12% year-over-year to $509 million[42] - Q4 2023 Total Revenue increased by 11% year-over-year, driven by higher credit demand[51] - Adjusted EBITDA for 2023 reached $114.7 million, up from $53.9 million in 2022, reflecting a $60.8 million increase[26] - Adjusted EBITDA for Q4 2023 increased to $25.8 million, up from $9.9 million in Q4 2022[39] Loan and Receivables Metrics - Net originations increased by 3% year over year to $192 million, with ending receivables up 4% to $416 million[6][19] - Annualized net charge-offs as a percentage of average receivables decreased to 46% from 59% year over year[19] - Yield increased to 127% from 118% year over year, reflecting a decrease in delinquent loans and a shift in interest rates[19][20] - Net Originations for Full Year 2023 decreased by 1% to $748 million[42] - Ending Receivables for Full Year 2023 increased by 4% to $416 million[42] Cash and Debt Management - Total cash and restricted cash increased to $73.9 million from $49.7 million year over year[8][22] - Total debt decreased by $13 million to $334.1 million, driven by the repayment of revolving lines of credit[8][22] - Cash and restricted cash increased to $73.9 million in 2023 from $49.7 million in 2022, a $24.3 million rise[35] - Total debt decreased to $334.1 million in 2023 from $347.1 million in 2022, a reduction of $12.9 million[35] Earnings Per Share (EPS) - Adjusted EPS guidance for 2024 is projected to be between $0.53 and $0.57[24] - Adjusted earnings per share for 2023 was $0.51, compared to $0.06 in 2022[26] - Q4 2023 Adjusted Earnings Per Share was $0.10, compared to a loss of $0.19 in Q4 2022[39] - Full Year 2023 Adjusted Earnings Per Share was $0.51, compared to $0.06 in 2022[44] Operational Metrics - Real-time AI drove automation for 89% of decisions in 2023[3] - 63 million U.S. consumers are credit marginalized, and 62% of U.S. consumers live paycheck to paycheck[4] - OppFi facilitated over $5.8 billion in gross loan issuance since inception, covering more than 3.4 million loans[47] Cash Flow and Share Metrics - Net cash provided by operating activities in 2023 was $296.1 million, up from $243.3 million in 2022, an increase of $52.8 million[37] - Weighted average diluted shares outstanding for 2023 were 85.1 million, slightly up from 84.3 million in 2022[26] Interest and Asset Metrics - Interest expense for 2023 was $46.8 million, compared to $35.2 million in 2022, an increase of $11.6 million[34] - Total assets as of December 31, 2023, were $601.5 million, up from $579.8 million in 2022, reflecting a $21.7 million increase[35]

Market Leading Terms Total Revenue • Total revenue increased 13% year over year to $376M ▪ No prepayment penalties Net Originations2 • Net originations decreased 2% year over year to $556M Ending Receivables2 • Ending receivables increased 3% year over year at $416M 1. Non-GAAP Financial Measures: Adjusted Net Income and Adjusted EPS are financial measures that have not been prepared in accordance with GAAP. See the disclaimer on "Non-GAAP Financial Measures" on slide 1 for a detailed description of such No ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the quarterly period ended September 30, 2023 (Mark One) OR ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ 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 001-39550 __________________________________________________________________ OppFi Inc. (Exact name of registrant as specifi ...

OppFi Inc. (NYSE:OPFI) Q2 2023 Earnings Conference Call August 9, 2023 4:30 PM ET Company Participants Shaun Smolarz – Head-Investor Relations Todd Schwartz – Chief Executive Officer and Executive Chairman Pam Johnson – Chief Financial Officer Conference Call Participants David Scharf – JMP Securities Mike Grondahl – Northland Securities Operator Good afternoon and welcome to OppFi's Second Quarter 2023 Earnings Conference Call. All participants are in a listen-only mode. As a reminder, this conference call ...

Q2 2023 Earnings Presentation August 9, 2023 No representation or warranty, express or implied, is or will be given by the Company or any of its respective affiliates, directors, officers, employees or advisers or any other person as to the accuracy or completeness of the information in this Presentation, and no responsibility or liability whatsoever is accepted for the accuracy or sufficiency thereof or for any errors, omissions or misstatements, negligent or otherwise, relating thereto. The information co ...

Table of Contents 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, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from________ ...

OppFi Inc. (NYSE:OPFI) Q1 2023 Earnings Conference Call May 11, 2023 4:30 PM ET Company Participants Shaun Smolarz - Head, Investor Relations Todd Schwartz - Chief Executive Officer & Executive Chairman Pam Johnson - Chief Financial Officer Conference Call Participants David Scharf - JMP Securities Operator Good afternoon and welcome to OppFi’s First Quarter 2023 Earnings Conference Call. All participants are in a listen-only mode. As a reminder, this conference call is being recorded. After management's pr ...

Table of Contents 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, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_______ ...

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Financial Performance - Total revenue for the year ended December 31, 2022, was approximately $453 million, representing a 29% increase from $351 million in 2021[32] - OppFi generated a net income of approximately $3 million for the year ended December 31, 2022, down from $90 million in 2021[32] - For the years ended December 31, 2020, 2021, and 2022, OppFi's revenue was approximately $291 million, $351 million, and $453 million, representing year-over-year revenue growth of approximately 20% from 2020 to 2021 and 29% from 2021 to 2022[109] - Net income for the years ended December 31, 2020, 2021, and 2022 was approximately $77.5 million, $89.8 million, and $3.3 million, reflecting an increase of approximately 16% from 2020 to 2021 and a decrease of approximately 96% from 2021 to 2022[115] Loan Issuance and Customer Base - OppFi facilitated over $4.4 billion in gross loan issuance covering more than 2.6 million loans since inception[23] - The company has served more than 1 million unique customers since inception[32] - OppFi's average installment loan amount is approximately $1,500, with an average contractual term of 11 months[22] - Total Net Originations on the platform were approximately $483.4 million in 2020, $595.1 million in 2021, and $758.2 million in 2022, representing growth rates of approximately 23.1% from 2020 to 2021 and 27.4% from 2021 to 2022[114] Credit Access and Underwriting - Approximately 85% of OppFi's underwriting decisions were automated in 2022, providing a streamlined application experience[28] - OppFi's platform serves approximately 60 million Americans who lack traditional credit access[43] - OppFi employs machine learning and real-time data analytics for credit decisioning, ignoring traditional credit scores[55] - OppFi's credit models evaluate over 500 attributes and have learned from approximately 1 million loans, improving credit and business performance over time[56] Marketing and Customer Acquisition - For the year ended December 31, 2022, 17.7% of loans originated were generated through SEO, email marketing, and customer referrals, while 75.1% were sourced from strategic partners[58] - OppFi's marketing costs from strategic partners are based on fixed price agreements, allowing for higher quality, lower cost customer acquisition[58] - The company continues to invest in new marketing channels to enhance competitive advantages and support ongoing growth[58] Compliance and Regulatory Environment - The company is committed to compliance with extensive regulations, including the Truth in Lending Act and the Equal Credit Opportunity Act, to ensure fair lending practices[64][68] - OppFi's internal collection team and third-party agents are required to comply with the Fair Debt Collection Practices Act (FDCPA) to ensure ethical debt collection practices[72] - The company has implemented a detailed privacy policy in compliance with the Gramm-Leach-Bliley Act (GLBA) to safeguard consumer information[73] - OppFi's compliance management system is designed to minimize compliance-related risks, although no compliance program can guarantee the absence of violations[95] Economic and Market Conditions - Economic conditions, including interest rates and inflation, significantly impact borrowers' willingness to incur loan obligations and make payments[128] - Increased inflation and interest rates may lead borrowers to allocate more income to necessities, increasing the risk of default on loans facilitated on the platform[129] - The demand for loan products may decline due to regulatory restrictions, competition, or changes in borrowers' financial conditions, potentially leading to a significant decrease in revenues[133] Technology and Innovation - The company intends to continue significant investments in developing proprietary machine learning models and enhancing marketing efforts to increase borrower numbers[115] - The company utilizes machine learning for innovation, but failure to keep pace with technological advancements could harm profitability and market acceptance of its products[154] - The software used by the company is complex and may contain undetected errors, which could negatively impact creditworthiness predictions and compliance with regulations[212] Risks and Challenges - The company faces risks related to the effectiveness of its machine learning models, which are crucial for evaluating borrowers' creditworthiness[119] - The company may experience fluctuations in quarterly operating results due to various factors, including loan volumes and economic conditions[116] - Fraudulent activity poses a significant risk, with potential increases in fraud rates during economic downturns, which could adversely affect the company's reputation and financial results[155] - The company faces risks from changing regulations targeting the unsecured personal loan market, which could adversely affect its business and financial condition[139] Internal Controls and Governance - The company identified a material weakness in internal control over financial reporting as of December 31, 2022, which could impair the accuracy of financial statements and investor confidence[189] - The company has implemented a remediation plan for the identified material weakness, but ongoing review and evidence of effectiveness are required to ensure controls operate effectively[192] - The company has expended significant resources to improve internal controls and compliance with financial reporting requirements, which may strain personnel and resources[195] Strategic Initiatives - The company aims to serve 60 million underserved consumers by leveraging organic and inorganic growth opportunities, including new strategic partnerships and potential acquisitions[60] - The company is conducting a strategic review of its loan products, which may impact its growth prospects and market acceptance of new offerings[140] - The company may pursue acquisitions to grow its business, which could divert management attention and resources, and pose integration challenges[180]