Employee Statistics and Engagement - As of December 31, 2024, the company had 2,312 full-time and 117 part-time employees worldwide, including 361 corporate employees in the United States[61] - Approximately 75% of employees participated in the 2024 engagement survey, with 80% reporting satisfaction and 84% expressing pride in working at the company[64] - The company has been recognized as a Greater Bay Area Top Workplace for the past six years due to its employee engagement efforts[64] Cost-Saving Measures - The company reduced its corporate staff by approximately 47% in the United States, India, and Mexico as part of cost-saving measures[61] Diversity and Inclusion - The company has nine employee resource groups focused on various underrepresented communities, reflecting its commitment to diversity and inclusion[64] Cybersecurity and Business Continuity - The company maintains a comprehensive cybersecurity program, including mandatory employee training and real-time monitoring of security events[54] - The company has implemented disaster recovery and business continuity plans to ensure service availability across critical functions[55] Intellectual Property - The company has no patent applications on its proprietary risk model or underwriting process, considering them trade secrets[57] - The company has trademark rights in its name and logo, with registrations in the United States and other jurisdictions[58] Compensation and Benefits - The company regularly reviews its compensation against market practices to ensure competitiveness, offering various benefits including annual bonuses and a 401(k) plan[64]

Core Insights - Oportun Financial Corporation reported significant improvements in its Q4 and full year 2024 financial results, indicating a turnaround in operational performance and credit quality [1][2][6]. Financial Highlights - Total originations for Q4 2024 reached $522.1 million, reflecting a 19.4% increase year-over-year, marking a recovery after previous declines [2]. - Total revenue for Q4 was $251 million, with adjusted EPS for Q4 at $0.49, a significant improvement from $(0.21) in Q4 2023 [6]. - Full year 2024 adjusted EPS was $0.69, compared to $(1.93) in 2023, showcasing a strong recovery [6]. Operational Analysis - The annualized net charge-off rate improved to 11.7%, the lowest since Q3 2022, indicating better credit performance [2]. - Adjusted operating expenses decreased to $89.2 million, down 17% year-over-year, with operating expenses as a percentage of average daily principal balance improving by 141 basis points to 13.1% in Q4 2024 [3]. Credit Quality - The front book's annualized net charge-off rate was 10.5% in Q4 2024, within the target range of 9% to 11%, suggesting improving credit quality [4]. 2025 Outlook - Management provided guidance for FY 2025, projecting revenue between $945-$970 million and adjusted EBITDA between $135-$145 million [7]. - Adjusted EPS is forecasted between $1.10-$1.30, with loan originations growth projected at 10-15% year-over-year and a net charge-off rate expected at 11.5% (±50 basis points) [7]. - The company's business model aims for a long-term Return on Equity in the range of 20%-28% as operational efficiencies continue to improve [5].

Oportun Financial Corporation (NASDAQ:OPRT) Q4 2024 Earnings Conference Call February 12, 2025 5:00 PM ET Company Participants Dorian Hare - SVP, IR Raul Vazquez - CEO Jonathan Coblentz - CFO & CAO Conference Call Participants Rick Shane - JP Morgan John Hecht - Jefferies Hal Goetsch - B. Riley Securities Gowshi Sri - Singular Research Brendan McCarthy - Sidoti Vincent Caintic - BTIG Operator Good afternoon, and welcome to Oportun Financial's Fourth Quarter 2024 Earnings Call. At this time, all participants ...

4Q 2024 Earnings Presentation February 12, 2025 1 Forward-looking statements This presentation and the accompanying oral presentation contain forward-looking statements. All statements other than statements of historical fact contained in this presentation and the accompanying oral presentation, including statements as to future performance, results of operations and financial position; achievement of our strategic priorities and goals; our expectations regarding loan origination growth; our expectation reg ...

Oportun Reports Fourth Quarter and Full Year 2024 Financial Results Returned to GAAP profitability with net income of $9 million in fourth quarter Fourth Quarter and Full Year 2024 Results | Metric | GAAP | | | | Adjusted | 1 | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 4Q24 | 4Q23 | FY24 | FY23 | 2 4Q24 4Q23 | FY24 | 2 FY23 | | Total revenue | $251 | $263 | $1,002 | $1,057 | | | | | Net income (loss) | $9 | $(42) | ($79) | ($180) | $22 $(8.2) | $29 | $(71) | | Diluted EPS | $0.20 | $(1.09) | ( ...

Returned to GAAP profitability with net income of $9 million in fourth quarter Adjusted EBITDA of $41 million, up 315% year-over-year Quarterly annualized net charge-off rate of 11.7%, lowest since third quarter of 2022 Total quarterly operating expenses of $89 million, reduced 31% year-over-year Raising full year 2025 expectations   SAN CARLOS, Calif., Feb. 12, 2025 (GLOBE NEWSWIRE) -- Oportun Financial Corporation (NASDAQ:OPRT) ("Oportun", or the "Company") reported financial results today for the fourth ...

SAN CARLOS, Calif., Jan. 29, 2025 (GLOBE NEWSWIRE) -- Oportun (Nasdaq: OPRT), a mission-driven financial services company, will release financial results for its fourth quarter 2024 on Wednesday, February 12, 2025, after market close. Oportun will host a conference call and earnings webcast to discuss results on Wednesday, February 12, 2025, at 5:00 pm ET / 2:00 pm PT. A live webcast of the call will be accessible from Oportun’s investor relations website at investor.oportun.com, and a webcast replay of the ...

Transaction over seven times oversubscribed 6.95% average yield 127 basis points lower than prior August 2024 ABS financing SAN CARLOS, Calif., Jan. 16, 2025 (GLOBE NEWSWIRE) -- Oportun (Nasdaq: OPRT), a mission-driven financial services company, today announced the issuance of $425 million of one-year revolving fixed rate asset-backed notes secured by a pool of unsecured and secured installment loans. The offering included five classes of fixed rate notes: Class A, Class B, Class C, Class D, and Class E. K ...

I believe that Oportun Financial (NASDAQ: OPRT ) is one of the most attractive risk rewards in the market. Due to a unique series of events, the company now finds itself below tangible book, on the cusp of profitable, and likely to grow revenues andAnalyst’s Disclosure: I/we have a beneficial long position in the shares of OPRT either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ...

Core Insights - Singular Research highlights Oportun Financial Corp as a leading financial services provider focused on credit solutions for underserved markets, showcasing significant financial improvements and operational efficiencies following an exceptional Q3 2024 performance [2][3]. Financial Performance - Oportun achieved $31 million in adjusted EBITDA for Q3 2024, representing a 117% increase year-over-year, driven by lower net charge-offs and cost reductions [3]. - Adjusted net income reached $0.9 million, or $0.02 per share, indicating a return to profitability [3]. - The annualized net charge-off rate decreased to 11.9%, with front book loans performing within the target range of 9%-11% [3]. Operational Metrics - Loan originations for the quarter totaled $480 million, remaining flat year-over-year but marking a milestone after previous declines [4]. - Adjusted operating expenses decreased by 17% year-over-year, reflecting strong cost management [4]. Future Outlook - For Q4 2024, loan originations are projected to grow by 10% year-over-year, with revenues estimated between $246 million and $250 million [5]. - Adjusted EBITDA guidance for Q4 is set at $28 million to $30 million [5]. - Preliminary guidance for FY:25 anticipates continued growth in loan originations, positioning Oportun for significant expansion [5]. Investment Thesis - Oportun Financial Corp utilizes AI-driven technology and proprietary credit assessment algorithms to fill a significant gap in financial services for low-to-moderate-income individuals, enabling cost-effective and scalable credit solutions [6]. - The company's robust financial turnaround, strong credit quality, and long-term target return on equity (ROE) are identified as key drivers of value [7].