Enova(US:ENVA) Prnewswireยท2025-02-04 21:16Core Insights - Enova International reported record financial results for the full year 2024, with originations, revenue, and adjusted EPS all reaching the highest levels in the company's history [2][10] - The company's portfolio expanded to nearly $4 billion, driven by strong performance in both SMB and consumer segments [2][10] - Enova's CEO expressed confidence in the company's momentum heading into 2025, emphasizing the ability to meet customer needs and create shareholder value [2] Fourth Quarter 2024 Summary - Total revenue for Q4 2024 was $730 million, a 25% increase from $584 million in Q4 2023 [10] - Net income for Q4 2024 was $64 million, or $2.30 per diluted share, representing an 83% increase from $35 million, or $1.13 per diluted share, in Q4 2023 [10] - Adjusted earnings per share for Q4 2024 rose 43% to $2.61 from $1.83 in Q4 2023 [10] - The net revenue margin was 57% in Q4 2024, consistent with 56% in Q4 2023, reflecting strong credit performance [10] Full Year 2024 Summary - Total revenue for the full year 2024 was $2.7 billion, a 26% increase from $2.1 billion in 2023 [10] - Net income for the full year 2024 was $209 million, or $7.43 per diluted share, a 20% increase from $175 million, or $5.49 per diluted share, in 2023 [10] - Adjusted EBITDA for the full year 2024 was $657 million, up 31% from $503 million in 2023 [10] - Adjusted earnings per share for the full year 2024 increased 34% to $9.15 from $6.85 in 2023 [10] Financial Position - As of December 31, 2024, liquidity, including cash and marketable securities, totaled $1.3 billion [10] - The total combined loans and finance receivables increased 20% from the end of Q4 2023 to a record $4.0 billion [10] - The company repurchased $51 million of common stock under its share repurchase program [10] Operational Highlights - Originations rose 20% in Q4 2024 compared to Q4 2023, with total company originations of $1.7 billion in the quarter [10] - The company reported a net revenue margin of 56.3% for Q4 2024, slightly up from 55.4% in Q4 2023 [10] - Delinquencies over 30 days decreased to 7.5% of the loan and finance receivable balance, down from 8.0% in the previous year [20]