Stonegate Capital Partners Updates Coverage on OppFi, Inc. (OPFI) 4Q25

Core Insights - OppFi, Inc. (NYSE: OPFI) reported record revenue of $597.1 million for FY25, with adjusted net income of $139.8 million and adjusted EPS of $1.59, reflecting year-over-year increases of 13.5%, 69.1%, and $0.64 respectively [1] - GAAP net income rose by 74.4% to $146.2 million, driven by Model 6, risk-based pricing, and improved operating discipline [1] - The company repurchased $15.5 million of shares at an average price of $10.04, with $20.9 million remaining under authorization, indicating a strong capital return strategy [1] Financial Performance - FY25 was characterized as a breakout year with record revenue, earnings, and margin expansion, highlighting stronger scale and pricing discipline [8] - The company demonstrated improved capital flexibility, strong free cash flow, ample liquidity, and lower funding costs, which enhanced financial flexibility [8] - FY26 guidance indicates continued momentum with expectations of solid growth, despite recent credit pressures being viewed as temporary [8]