OppFi (US:OPFI)2025-11-06 22:22Financial Performance - Total revenue for Q3 2025 reached $155.1 million, a 13.5% increase from $136.6 million in Q3 2024[18] - Net income attributable to OppFi Inc. for Q3 2025 was $41.6 million, compared to $4.3 million in Q3 2024, representing a significant increase[18] - The company reported a net revenue of $104.6 million for Q3 2025, up from $91.2 million in Q3 2024, marking a 14.8% growth[18] - Earnings per diluted share for Q3 2025 were $0.77, compared to $0.21 in Q3 2024, showing a substantial improvement[18] - Net income for the nine months ended September 30, 2025, was $107.8 million, compared to $69.9 million for the same period in 2024, representing a 54% increase[27] - Total revenue for the three months ended September 30, 2025, was $155.1 million, an increase of 13.5% from $136.6 million in the same period of 2024[101] - Net income attributable to OppFi Inc. for the three months ended September 30, 2025, was $41.6 million, compared to $4.3 million in the same period of 2024, representing a significant increase[101] - Basic earnings per share for the three months ended September 30, 2025, was $1.48, compared to $0.21 for the same period in 2024[14] - Diluted earnings per share for the three months ended September 30, 2025, was $0.77, up from $0.21 in the same period of 2024[14] Assets and Liabilities - Total assets increased to $720.6 million as of September 30, 2025, compared to $641.2 million at the end of 2024, reflecting a growth of 12.4%[13] - The company’s total liabilities increased to $443.4 million as of September 30, 2025, compared to $407.0 million at the end of 2024, a rise of 8.9%[13] - Total stockholders' equity increased to $277.3 million as of September 30, 2025, compared to $234.2 million at the end of 2024, reflecting a growth of 18.4%[13] - As of September 30, 2025, the unpaid principal balance of installment finance receivables was $481.0 million, an increase from $425.2 million as of December 31, 2024, representing a growth of 13.1%[52] - The total finance receivables at fair value reached $541.9 million as of September 30, 2025, compared to $473.7 million at the end of 2024, indicating a year-over-year increase of 14.4%[52] Cash Flow and Investments - Cash provided by operating activities for the nine months ended September 30, 2025, was $284.5 million, up from $229.3 million in 2024, indicating a 24% growth[27] - The company reported a net cash used in investing activities of $218.4 million for the nine months ended September 30, 2025, compared to $170.6 million in 2024[27] - The ending cash and restricted cash balance as of September 30, 2025, was $75.2 million, down from $74.2 million at the end of September 2024[27] - Cash and restricted cash as of September 30, 2025, totaled $75.2 million, with cash at $45.5 million and restricted cash at $29.7 million[98] Finance Receivables - Finance receivables at fair value rose to $541.9 million in Q3 2025, up from $473.7 million in Q4 2024, indicating a 14.4% increase[13] - Total finance receivables originated and acquired for the nine months ended September 30, 2025, amounted to $587.3 million, compared to $538.4 million in 2024, reflecting a 9% increase[27] - For the three months ended September 30, 2025, the company originated $219.5 million in finance receivables, up from $201.5 million in the same period of 2024, reflecting an increase of 8.9%[53] - The net charge-offs for the nine months ended September 30, 2025, were $148.4 million, slightly down from $148.9 million in the same period of 2024, showing a decrease of 0.3%[53] - Charge-offs, net for the three months ended September 30, 2025, were $54.4 million, up from $46.8 million in the same period of 2024[101] Expenses and Compensation - Total expenses for the three months ended September 30, 2025, were $56.1 million, slightly up from $56.1 million in the same period of 2024[101] - Stock-based compensation expense for the nine months ended September 30, 2025, was $8.3 million, compared to $4.2 million in 2024, indicating a 97% increase[27] - The Company recognized stock-based compensation expense related to stock options of $50 thousand for the three months ended September 30, 2025[78] - For the nine months ended September 30, 2025, the Company recognized stock-based compensation related to RSUs of $7.8 million[80] Legal and Regulatory Matters - The company is currently involved in legal proceedings and regulatory matters, which may impact its financial condition, but management does not believe these will have a material adverse effect[103] Shareholder Information - The company repurchased 710,430 shares of Class A Common Stock for $7.4 million at an average price of $10.33 per share during the three months ended September 30, 2025[73] - The company has $29 million remaining under its share repurchase authorization as of September 30, 2025[73] - The Board declared a dividend of $0.25 per share for Class A Common Stock, payable to stockholders of record as of April 8, 2025[74] Accounting and Reporting - The company is currently evaluating the impact of new accounting standards on its disclosures, which may affect future financial reporting[49] - The Company has not provided additional market risk disclosures as it qualifies as a "smaller reporting company" under Regulation S-K[17]