Earnings Per Share (EPS) - Basic and diluted earnings per share (EPS) of $0.16 and $0.16, respectively, for the three months ended June 30, 2024[101] - Adjusted earnings per share (Adjusted EPS) of $0.29 for the three months ended June 30, 2024, an increase of $0.10 from $0.19 for the three months ended June 30, 2023[101] - Basic earnings per share increased to $0.44 for Q2 2024, up from $0.16 in Q2 2023[132] - Adjusted EPS for Q2 2024 was $0.29, up from $0.19 in Q2 2023, driven by higher adjusted net income[158] Net Income - Net income of $27.7 million for the three months ended June 30, 2024, an increase of $9.6 million from $18.1 million for the three months ended June 30, 2023[101] - Adjusted net income (Adjusted Net Income) of $24.8 million for the three months ended June 30, 2024, an increase of $8.9 million from $15.9 million for the three months ended June 30, 2023[101] - Net income increased by $9.6 million to $27.7 million for the three months ended June 30, 2024, from $18.1 million in 2023[129] - Net income attributable to OppFi Inc. increased to $3.1 million for Q2 2024, up from $2.1 million in Q2 2023[130] - Net income attributable to OppFi Inc. surged by 259.5% to $8.6 million for the six months ended June 30, 2024, from $2.4 million in the same period in 2023[134] - Net income for the three months ended June 30, 2024 increased by $9.6 million (53.1%) compared to the same period in 2023[153] - Net income for the six months ended June 30, 2024 increased by $15.8 million (71.8%) compared to the same period in 2023[155] - Net income for Q2 2024 increased to $27.7 million, compared to $18.1 million in Q2 2023[158] - Adjusted net income for H1 2024 was $33.6 million, up from $19.7 million in H1 2023[160] - Adjusted net income for the six months ended June 30, 2024 increased by $13.8 million (70.2%) compared to the same period in 2023[155] Revenue - Total revenue increased 3.1% to $126.3 million from $122.5 million for the three months ended June 30, 2024 and 2023, respectively[101] - Total revenue increased by $3.8 million, or 3.1%, to $126.3 million for the three months ended June 30, 2024, from $122.5 million in 2023[119] - Total revenue for the six months ended June 30, 2024, increased by 4.4% to $253.6 million compared to $242.9 million in the same period in 2023[135] - Net revenue increased by $11.7 million, or 15.7%, to $86.3 million for the three months ended June 30, 2024, from $74.6 million in 2023[124] - Net revenue rose by 13.5% to $149.5 million for the six months ended June 30, 2024, from $131.8 million in the same period in 2023[139] Originations and Receivables - Net originations increased 2.4% to $205.5 million from $200.6 million for the three months ended June 30, 2024 and 2023, respectively[101] - Ending receivables decreased 2.7% to $387.1 million from $397.8 million as of June 30, 2024 and 2023, respectively[101] - Total net originations by bank partners increased to 100.0% for the three months ended June 30, 2024 from 97.3% for the three months ended June 30, 2023[109] - Finance receivables at fair value decreased by $32.8 million (7.1%) as of June 30, 2024 compared to December 31, 2023[148] Credit and Charge-offs - Net charge-offs as a percentage of total revenue decreased to 32.5% for the three months ended June 30, 2024, from 36.2% in 2023, a decrease of 10.2%[115] - Net charge-offs as a percentage of average receivables decreased to 43.8% for the three months ended June 30, 2024, from 46.6% in 2023, a decrease of 6.0%[115] - Provision for credit losses on finance receivables decreased by 99.2% to $30.8 thousand for the six months ended June 30, 2024, from $3.9 million in the same period in 2023[138] Operational Performance - Income from operations increased by $11.2 million to $29.5 million for the three months ended June 30, 2024, from $18.3 million in 2023[127] - Income from operations increased by 57.6% to $34.8 million for the six months ended June 30, 2024, compared to $22.1 million in the same period in 2023[142] - Income before income taxes increased by $9.8 million, or 52.4%, to $28.6 million for the three months ended June 30, 2024, from $18.8 million in 2023[128] - Income before income taxes rose by 71.3% to $39.1 million for the six months ended June 30, 2024, from $22.8 million in the same period in 2023[144] - Adjusted EBT for the three months ended June 30, 2024 increased by $11.5 million (55.0%) compared to the same period in 2023[153] - Adjusted EBT for the six months ended June 30, 2024 increased by $17.9 million (68.8%) compared to the same period in 2023[155] Cash and Liquidity - Total cash and restricted cash increased by $6.9 million (9.3%) as of June 30, 2024 compared to December 31, 2023[148] - Unrestricted cash as of June 30, 2024, was $46.6 million, a $14.8 million increase from December 31, 2023[161] - Undrawn debt capacity reached $223.2 million as of June 30, 2024, representing a 43% overall undrawn capacity[161] - Total funding capacity as of June 30, 2024, was approximately $605.8 million, including cash and financing commitments[161] - Net cash provided by operating activities for H1 2024 was $151.7 million, a 9.5% increase from H1 2023[163] - Net cash used in investing activities for H1 2024 decreased by 25.1% to $77.3 million compared to H1 2023[163] - Net cash used in financing activities for H1 2024 increased by 194.4% to $67.5 million compared to H1 2023[163] Debt and Liabilities - Total debt decreased by $32.3 million (9.7%) as of June 30, 2024 compared to December 31, 2023[149] - Warrant liabilities decreased by $4.2 million (61.1%) as of June 30, 2024 compared to December 31, 2023[149] - Change in fair value of warrant liabilities totaled $4.2 million for the six months ended June 30, 2024, compared to $0.5 million in the same period in 2023[143] - Total revolving lines of credit amount to $475,000, with $262,100 utilized as of June 30, 2024[170] - Opportunity Funding SPE V, LLC (Tranche B) has a borrowing capacity of $125,000, with $62,500 utilized as of June 30, 2024[170] - Opportunity Funding SPE V, LLC (Tranche C) has a borrowing capacity of $125,000, with $62,500 utilized as of June 30, 2024[170] - Opportunity Funding SPE IX, LLC (Castlelake) has a borrowing capacity of $150,000, with $85,871 utilized as of June 30, 2024[170] - Gray Rock SPV LLC has a borrowing capacity of $75,000, with $51,229 utilized as of June 30, 2024[170] - All LIBOR-based credit facilities have been transitioned to SOFR as of June 30, 2024[171] - The transition from LIBOR to SOFR did not materially affect the company's liquidity or financial terms of credit facilities[171] Expenses - Expenses increased by 4.6% to $114.7 million for the six months ended June 30, 2024, compared to $109.7 million in the same period in 2023[141] Share Repurchase - The company repurchased 769,715 shares of Class A Common Stock for an aggregate purchase price of $2.5 million at an average purchase price per share of $3.27[102] Yield and Approval Rates - Average yield increased to 134.8% for the three months ended June 30, 2024 from 128.8% for the three months ended June 30, 2023[113] - Auto-approval rate increased to 75.8% for the three months ended June 30, 2024, from 72.1% in 2023, an increase of 5.1%[116] Shares Outstanding - Weighted average diluted shares outstanding for Q2 2024 were 86.3 million, compared to 84.8 million in Q2 2023[158]

. Stonegate Capital Partners Updates 2Q24 Report on OppFi, Inc. (OPFI) August 08, 2024 9:16 AM EDT | Source: Reportable, Inc. Dallas, Texas--(Newsfile Corp. - August 8, 2024) - OppFi, Inc. (NYSE: OPFI) : Stonegate Capital Partners Updates Coverage on OppFi (NYSE: OPFI). To view the full announcement, including downloadable images, bios, and more, click here. Key Takeaways: Guidance Raised Year-over-year revenue margin expansion of 743bps Acquisition completed of a 35% equity interest in BittyAdvance Click i ...

A Tech-Enabled, Mission-Driven Specialty Finance Platform that Broadens the Reach of Community Banks to Extend Credit Access to Everyday Americans Q2 2024 Earnings Presentation August 7, 2024 This presentation (the "Presentation") of OppFi Inc. ("OppFi" or the "Company") is for information purposes only. Certain information contained herein has been derived from sources prepared by third parties. While such information is believed to be reliable for the purposes used herein, the Company makes no representat ...

Financial Data and Key Metrics Changes - Total revenue increased by 3.1% year-over-year to $126.3 million, marking a company record for a second quarter [5][11] - GAAP net income grew by 53.1% to $27.7 million, another record for a second quarter [5] - Adjusted net income increased by 56.2% year-over-year to $24.8 million, also a record for a second quarter [5] - Net income margin increased by 710 basis points to 21.9%, while adjusted net income margin expanded by 660 basis points to 19.6% [5] - Free cash flow generated in Q2 was $18 million, contributing to a solid balance sheet [6] Business Line Data and Key Metrics Changes - Total net originations increased by 2.4% to $205.5 million, with a 600 basis point improvement in total revenue yield to 134.8% [11] - Retained net originations decreased by 3.1% to $189.3 million due to a bank partner retaining a larger portion of loans [11] - New customer originations increased by 4.4% year-over-year, while existing customer originations increased by 0.9% [12] Market Data and Key Metrics Changes - The annualized net charge-off rate as a percentage of average receivables decreased by 280 basis points to 43.8% [12] - The annualized net charge-off rate as a percentage of total revenue decreased by 370 basis points to 32.5% [12] Company Strategy and Development Direction - The company is focusing on expanding into adjacent verticals, including small business financing, to facilitate credit access [6][10] - The recent investment in Bitty Advance is seen as a foundational step in establishing a small business financing vertical [8][10] - The company aims to build a leading credit access and financial services business with a suite of digital financial service products [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in growth opportunities due to improved credit performance and operational efficiencies [3][9] - The company raised its full-year earnings guidance by more than 20% and expects adjusted net income of $63 million to $65 million [14] - Management is monitoring macroeconomic factors such as inflation and unemployment, which could impact underwriting and credit performance [26] Other Important Information - The company paid down $10 million of debt and returned cash to stockholders through a special dividend and share repurchases [9][10] - The company has a healthy balance sheet with $80.8 million in cash and $301.8 million in total debt as of the end of Q2 [13] Q&A Session Summary Question: How much of the yield increase was due to mix versus pricing? - Management indicated that the yield increase was largely due to improved credit performance and strong repayment rates, along with the cessation of certain pricing tests [17] Question: Does the lower credit losses mean the company can accelerate growth? - Management confirmed that they are starting to feel confident about growth in the second half of the year, supported by a new underwriting model [18] Question: Any updates on the competitive environment? - Management noted ongoing competition but emphasized their focus on core customers and delivering value [19] Question: Are there any synergies expected from the Bitty transaction? - Management expressed optimism about synergies from the Bitty acquisition, highlighting complementary skill sets and potential for growth in the small business financing market [22][23] Question: What does the acquisition cost look like for new customers? - Management reported a 3% decrease in acquisition costs year-over-year, indicating disciplined spending [25] Question: How does the company factor macroeconomic changes into underwriting? - Management acknowledged inflation as a concern but noted potential benefits from lower interest costs if the Fed cuts rates [26]

OppFi Inc. (OPFI) came out with quarterly earnings of $0.29 per share, beating the Zacks Consensus Estimate of $0.17 per share. This compares to earnings of $0.19 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 70.59%. A quarter ago, it was expected that this company would post earnings of $0.05 per share when it actually produced earnings of $0.10, delivering a surprise of 100%. Over the last four quarters, the company has su ...

TA Tech-Enabled, Mission-Driven Specia that Broadens the Reach of Community Credit Access to Everyday Americans Q2 2024 Earnings Presentati August 7, 2024 Disclaimer This presentation (the "Presentation") of Oppli" or the "Company") is for mformation purposes soly. Certain information on the internation on the betweel from bourse reserv information contained herein does not purport to be all-inclusive. This Presentation does not consititute investment, tax, or legal advice. to representation or warranty, ex ...

This article is an excerpt from the InvestorPlace Digest newsletter. To get news like this delivered straight to your inbox, click here. "We have all this hot air in Washington," David Blitzer, S&P Dow Jones Indices chairman, said in a CNBC interview at the time. "But the rest of the economy is growing reasonably well… And that's probably what's behind the stock market's good track record." But Plug Power also has enormous dreams to become America's first one-stop shop for green hydrogen… and it now has sig ...

OppFi Inc. (OPFI) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company. Analysts' growing optimism on the earnings prospects of this company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisi ...

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, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________to__________ Co ...

OppFi Inc. (NYSE:OPFI) Q1 2024 Earnings Conference Call May 8, 2024 9:00 AM 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 - Citizens JMP Dave Storms - Stonegate Ross Davisson - Banneton Capital Operator Good morning and welcome to OppFi’s First Quarter 2024 Earnings Conference Call. [Operator Instructions] It is now my pleasure to introduce your ho ...