PR Newswire
GAAP net income decreased 58.5% year over year to $11.5 million
Adjusted net income1 increased 59.0% year over year to $39.4 million, a Company record for any quarter
Total revenue increased 12.8% year over year to $142.4 million, a Company record for any quarter
Average yield, annualized increased by 130 basis points year over year to 136.1%, a Company record for any quarter
Net charge-off rate as a percentage of total revenue decreased 60 basis points year over year to 31.9%
Revenue guidance for the full year 2025 increased to $578 million to $605 million, from a previous range of $563 million to $594 million
Adjusted net income1 guidance for the full year 2025 increased to $125 million to $130 million, from $106 million to $113 million
CHICAGO
, Aug. 6, 2025 /PRNewswire/ — OppFi Inc. (NYSE: OPFI) (“OppFi” or the “Company”), a tech-enabled digital finance platform that partners with banks to offer financial products and services to everyday Americans, today reported financial results for the second quarter ended June 30, 2025.
“The significant improvements we’ve made in operations and credit have delivered another record quarter. Model 6 has continued to drive incremental origination growth while maintaining our risk standards. We also achieved a record auto-approval percentage for the quarter while maintaining strong customer satisfaction of 79 NPS. As a result of this momentum, we are raising our full-year guidance for both revenue and adjusted net income. We believe our differentiated approach to facilitating consumer lending continues to position us for sustainable growth and long-term value creation,” said Todd Schwartz, CEO and Executive Chairman of OppFi.
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Financial Summary
The following tables present a summary of OppFi’s results for the three and six months ended June 30, 2025 and 2024 (in thousands, except per share data). Certain columns and rows may not sum due to the use of rounded numbers for disclosure purposes. Percentages presented are calculated from the underlying whole-dollar amounts.
|
Three Months Ended June 30, |
Change |
|||||
|
(Unaudited) |
2025 |
2024 |
% |
|||
|
Total revenue |
$ 142,443 |
$ 126,304 |
12.8 % |
|||
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Net income |
$ 11,480 |
$ 27,676 |
(58.5) % |
|||
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Net (loss) income attributable to OppFi Inc. |
$ (20,780) |
$ 3,066 |
(777.7) % |
|||
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Adjusted net income(1) |
$ 39,401 |
$ 24,781 |
59.0 % |
|||
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Basic EPS |
$ (0.78) |
$ 0.16 |
(588.1) % |
|||
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Diluted EPS(2) |
$ (0.78) |
$ 0.16 |
(588.1) % |
|||
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Adjusted EPS(1,2) |
$ 0.45 |
$ 0.29 |
55.1 % |
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Six Months Ended June 30, |
Change |
|||||
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(Unaudited) |
2025 |
2024 |
% |
|||
|
Total revenue |
$ 282,711 |
$ 253,647 |
11.5 % |
|||
|
Net income |
$ 31,870 |
$ 37,807 |
(15.7) % |
|||
|
Net (loss) income attributable to OppFi Inc. |
$ (32,152) |
$ 8,603 |
(473.7) % |
|||
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Adjusted net income(1) |
$ 73,219 |
$ 33,562 |
118.2 % |
|||
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Basic EPS |
$ (1.28) |
$ 0.44 |
(390.4) % |
|||
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Diluted EPS(2) |
$ (1.28) |
$ 0.36 |
(455.0) % |
|||
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Adjusted EPS(1,2) |
$ 0.83 |
$ 0.39 |
113.1 % |
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Key Performance Metrics
The following tables represent key quarterly metrics (in thousands, except percentage metrics).
|
As of and for the Three Months Ended |
||||||
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June 30, |
March 31, |
June 30, |
||||
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(Unaudited) |
2025 |
2025 |
2024 |
|||
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Total net originations(a) |
$ 233,873 |
$ 189,168 |
$ 205,549 |
|||
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Total retained net originations(a) |
$ 205,706 |
$ 168,963 |
$ 189,344 |
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Ending receivables(b) |
$ 437,750 |
$ 406,579 |
$ 387,086 |
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Net charge-offs as % of total revenue(c) |
32 % |
35 % |
33 % |
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Net charge-offs as % of average receivables, annualized(c) |
43 % |
47 % |
44 % |
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Average yield, annualized(d) |
136 % |
136 % |
135 % |
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Auto-approval rate(e) |
80 % |
79 % |
76 % |
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As of and for the Six Months Ended |
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(Unaudited) |
June 30, 2025 |
June 30, 2024 |
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Total net originations(a) |
$ 423,041 |
$ 369,045 |
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Total retained net originations(a) |
$ 374,669 |
$ 341,856 |
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Ending receivables(b) |
$ 437,750 |
$ 387,086 |
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Net charge-offs as % of total revenue(c) |
33 % |
40 % |
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Net charge-offs as % of average receivables, annualized(c) |
45 % |
53 % |
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Average yield, annualized(d) |
135 % |
131 % |
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Auto-approval rate(e) |
79 % |
75 % |
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Full Year 2025 Guidance Update
- Raise total revenue
- $578 million to $605 million, from a previous range of $563 million to $594 million;
- Raise adjusted net income1
- $125 million to $130 million, from a previous range of $106 to $113 million; and
- Raise adjusted earnings per share1
- $1.39 to $1.44 from a previous range of $1.18 to $1.26, based on approximate weighted average diluted share count of 90 million shares
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Conference Call
Management will host a conference call today at 9:00 a.m. ET to discuss OppFi’s financial results and business outlook. The webcast of the conference call will be made available on the Investor Relations page of the Company’s website.
The conference call can also be accessed with the following dial-in information:
- Domestic: (800) 343-4136
- International: (203) 518-9843
- Conference ID: OPPFI
An archived version of the webcast will be available on OppFi’s website.
About OppFi
OppFi (NYSE: OPFI) is a tech-enabled digital finance platform that partners with banks to offer financial products and services to everyday Americans. Through this transparent and responsible platform, which emphasizes financial inclusion and exceptional customer experience, the Company assists consumers who are underserved by traditional financing options in building improved financial health. OppLoans by OppFi maintains a 4.5/5.0 star rating on Trustpilot based on over 4,900 reviews, positioning the Company among the top consumer-rated financial platforms online. OppFi also holds a 35% equity interest in Bitty Holdings, LLC (“Bitty”), a credit access company that provides revenue-based financing and other working capital solutions to small businesses. For additional information, please visit oppfi.com.
Contacts:
Investor Relations:
Mike Gallentine
Head of Investor Relations
[email protected]
Media Relations:
[email protected]
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. OppFi’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “possible,” “continue,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, without limitation, OppFi’s expectations with respect to its full year 2025 guidance, the future performance of OppFi’s platform, and expectations for OppFi’s growth and future financial performance. These forward-looking statements are based on OppFi’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside OppFi’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the impact of general economic conditions, including economic slowdowns, inflation, interest rate changes, recessions, the impact of tariffs, and tightening of credit markets on OppFi’s business; the impact of challenging macroeconomic and marketplace conditions; the impact of stimulus or other government programs; whether OppFi will be successful in obtaining declaratory relief against the Commissioner of the Department of Financial Protection and Innovation for the State of California; whether OppFi will be subject to AB 539; whether OppFi’s bank partners will continue to lend in California and whether OppFi’s financing sources will continue to finance the purchase of participation rights in loans originated by OppFi’s bank partners in California; OppFi’s ability to scale and grow the Bitty business; the impact that events involving financial institutions or the financial services industry generally, such as actual concerns or events involving liquidity, defaults, or non-performance, may have on OppFi’s business; risks related to any material weakness in OppFi’s internal controls over financial reporting; the ability of OppFi to grow and manage growth profitably and retain its key employees; risks related to new products; risks related to evaluating and potentially consummating acquisitions; concentration risk; risks related to OppFi’s ability to comply with various covenants in its corporate and warehouse credit facilities; risks related to potential litigation; changes in applicable laws or regulations, including, but not limited to, impacts from the One Big Beautiful Bill Act; the possibility that OppFi may be adversely affected by other economic, business, and/or competitive factors; risks related to management transitions; and other risks and uncertainties indicated from time to time in OppFi’s filings with the United States Securities and Exchange Commission, in particular, contained in the section or sections captioned “Risk Factors.” OppFi cautions that the foregoing list of factors is not exclusive, and readers should not place undue reliance upon any forward-looking statements, which speak only as of the date made. OppFi does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
Non-GAAP Financial Measures
This press release includes certain non-GAAP financial measures that are unaudited and do not conform to GAAP, such as Adjusted EBT, Adjusted Net Income, and Adjusted EPS. Adjusted EBT is defined as Net Income, adjusted for (1) income tax expense; (2) change in fair value of warrant liabilities; (3) other adjustments, net; and (4) other income. Adjusted Net Income is defined as Adjusted EBT as defined above, adjusted for taxes assuming a tax rate for each period presented that reflects the U.S. federal statutory rate of 21% and a blended statutory rate for state income taxes, in order to allow for a comparison with other publicly traded companies. Adjusted EPS is defined as Adjusted Net Income as defined above, divided by weighted average diluted shares outstanding, which represents shares of both classes of common stock outstanding and includes the impact of dilutive securities, such as restricted stock units, performance stock units, and stock options. The earnout units were not earned pursuant to the earnout provisions of the Business Combination Agreement on or prior to July 21, 2024, the third anniversary of the closing date of the Company’s business combination. Accordingly, on such date the earnout units and associated Class V Voting Stock were forfeited. These non-GAAP financial measures have not been prepared in accordance with accounting principles generally accepted in the United States and may be different from non-GAAP financial measures used by other companies. OppFi believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends. These non-GAAP measures with comparable names should not be considered in isolation from, or as an alternative to, financial measures determined in accordance with GAAP. See “Reconciliation of Non-GAAP Financial Measures” below for reconciliations for OppFi’s non-GAAP financial measures to the most directly comparable GAAP financial measures. A reconciliation of projected full year 2025 Adjusted Net Income and Adjusted EPS to the most directly comparable GAAP financial measures is not included in this press release because, without unreasonable efforts, the Company is unable to predict with reasonable certainty the amount or timing of non-GAAP adjustments that are used to calculate these measures.
First Quarter Results of Operations
Consolidated Statements of Operations
The following tables present consolidated results of operations for the three and six months ended June 30, 2025 and 2024 (in thousands, except share and per share data). Certain columns and rows may not sum due to the use of rounded numbers for disclosure purposes. Percentages presented are calculated from the underlying whole-dollar amounts.
Comparison of the three months ended June 30, 2025 and 2024
|
Three Months Ended June 30, |
Change |
|||||||
|
(Unaudited) |
2025 |
2024 |
$ |
% |
||||
|
Interest and loan related income |
$ 141,144 |
$ 125,076 |
$ 16,068 |
12.8 % |
||||
|
Other revenue |
1,299 |
1,228 |
71 |
5.8 |
||||
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Total revenue |
142,443 |
126,304 |
16,139 |
12.8 |
||||
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Change in fair value of finance receivables |
(42,197) |
(40,019) |
(2,178) |
5.4 |
||||
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Provision for credit losses on finance receivables |
— |
(4) |
4 |
(100.0) |
||||
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Net revenue |
100,246 |
86,281 |
13,965 |
16.2 |
||||
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Expenses: |
||||||||
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Sales and marketing |
10,077 |
10,824 |
(747) |
(6.9) |
||||
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Customer operations |
11,299 |
11,608 |
(309) |
(2.7) |
||||
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Technology, products, and analytics |
7,721 |
9,148 |
(1,427) |
(15.6) |
||||
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General, administrative, and other |
16,702 |
14,250 |
2,452 |
17.2 |
||||
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Total expenses before interest expense |
45,799 |
45,830 |
(31) |
(0.1) |
||||
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Interest expense |
9,639 |
10,964 |
(1,325) |
(12.1) |
||||
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Total expenses |
55,438 |
56,794 |
(1,356) |
(2.4) |
||||
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Income from operations |
44,808 |
29,487 |
15,321 |
52.0 |
||||
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Change in fair value of warrant liabilities |
(33,304) |
(976) |
(32,328) |
3310.8 |
||||
|
Income from equity method investment |
1,121 |
— |
1,121 |
— |
||||
|
Other income |
79 |
79 |
— |
— |
||||
|
Income before income taxes |
12,704 |
28,590 |
(15,886) |
(55.6) |
||||
|
Income tax expense |
1,224 |
914 |
310 |
33.9 |
||||
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Net income |
11,480 |
27,676 |
(16,196) |
(58.5) |
||||
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Less: net income attributable to noncontrolling interest |
32,260 |
24,610 |
7,650 |
31.1 |
||||
|
Net (loss) income attributable to OppFi Inc. |
$ (20,780) |
$ 3,066 |
$ (23,846) |
(777.7) % |
||||
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(Loss) earnings per common share attributable to OppFi Inc.: |
||||||||
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(Loss) earnings per common share: |
||||||||
|
Basic |
$ (0.78) |
$ 0.16 |
||||||
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Diluted |
$ (0.78) |
$ 0.16 |
||||||
|
Weighted average common shares outstanding: |
||||||||
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Basic |
26,610,330 |
19,675,934 |
||||||
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Diluted |
26,610,330 |
19,675,934 |
||||||
Comparison of the six months ended June 30, 2025 and 2024
|
Six Months Ended June 30, |
Change |
|||||||
|
(Unaudited) |
2025 |
2024 |
$ |
% |
||||
|
Interest and loan related income |
$ 280,262 |
$ 251,355 |
$ 28,907 |
11.5 % |
||||
|
Other revenue |
2,449 |
2,292 |
157 |
6.9 |
||||
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Total revenue |
282,711 |
253,647 |
29,064 |
11.5 |
||||
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Change in fair value of finance receivables |
(91,655) |
(104,121) |
12,466 |
(12.0) |
||||
|
Provision for credit losses on finance receivables |
— |
(31) |
31 |
(100.0) |
||||
|
Net revenue |
191,056 |
149,495 |
41,561 |
27.8 |
||||
|
Expenses: |
||||||||
|
Sales and marketing |
18,556 |
19,002 |
(446) |
(2.3) |
||||
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Customer operations |
22,708 |
22,971 |
(263) |
(1.1) |
||||
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Technology, products, and analytics |
15,165 |
18,927 |
(3,762) |
(19.9) |
||||
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General, administrative, and other |
27,441 |
31,430 |
(3,989) |
(12.7) |
||||
|
Total expenses before interest expense |
83,870 |
92,330 |
(8,460) |
(9.2) |
||||
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Interest expense |
19,886 |
22,394 |
(2,508) |
(11.2) |
||||
|
Total expenses |
103,756 |
114,724 |
(10,968) |
(9.6) |
||||
|
Income from operations |
87,300 |
34,771 |
52,529 |
151.1 |
||||
|
Change in fair value of warrant liabilities |
(54,911) |
4,195 |
(59,106) |
(1409.1) |
||||
|
Income from equity method investment |
2,197 |
— |
2,197 |
— |
||||
|
Other income |
159 |
159 |
— |
— |
||||
|
Income before income taxes |
34,745 |
39,125 |
(4,380) |
(11.2) |
||||
|
Income tax expense |
2,875 |
1,318 |
1,557 |
118.1 |
||||
|
Net income |
31,870 |
37,807 |
(5,937) |
(15.7) |
||||
|
Less: net income attributable to noncontrolling interest |
64,022 |
29,204 |
34,818 |
119.2 |
||||
|
Net (loss) income attributable to OppFi Inc. |
$ (32,152) |
$ 8,603 |
$ (40,755) |
(473.7) % |
||||
|
(Loss) earnings per common share attributable to OppFi Inc.: |
||||||||
|
(Loss) earnings per common share: |
||||||||
|
Basic |
$ (1.28) |
$ 0.44 |
||||||
|
Diluted |
$ (1.28) |
$ 0.36 |
||||||
|
Weighted average common shares outstanding: |
||||||||
|
Basic |
25,158,196 |
19,440,680 |
||||||
|
Diluted |
25,158,196 |
86,148,477 |
||||||
Condensed Consolidated Balance Sheets
Comparison as of June 30, 2025 and December 31, 2024(in thousands):
|
(Unaudited) |
||||||||
|
June 30, |
December 31, |
Change |
||||||
|
2025 |
2024 |
$ |
% |
|||||
|
|
||||||||
|
Cash and restricted cash |
$ 78,265 |
$ 88,288 |
$ (10,023) |
(11.4) % |
||||
|
Finance receivables at fair value |
491,488 |
473,696 |
17,792 |
3.8 |
||||
|
Equity method investment |
18,574 |
19,194 |
(620) |
(3.2) |
||||
|
Other assets |
85,048 |
59,993 |
25,055 |
41.8 |
||||
|
Total assets |
$ 673,375 |
$ 641,171 |
$ 32,204 |
5.0 % |
||||
|
|
||||||||
|
Accounts payable and accrued expenses |
$ 29,840 |
$ 33,290 |
$ (3,450) |
(10.4) % |
||||
|
Total debt |
305,897 |
318,758 |
(12,861) |
(4.0) |
||||
|
Warrant liabilities |
70,019 |
15,108 |
54,911 |
363.5 |
||||
|
Other liabilities |
49,914 |
39,802 |
10,112 |
25.4 |
||||
|
Total liabilities |
455,670 |
406,958 |
48,712 |
12.0 |
||||
|
Total stockholders’ equity |
217,705 |
234,213 |
(16,508) |
(7.0) |
||||
|
Total liabilities and stockholders’ equity |
$ 673,375 |
$ 641,171 |
$ 32,204 |
5.0 % |
||||
Financial Capacity and Capital Resources
As of June 30, 2025, OppFi had $45.2 million in unrestricted cash, a decrease of $16.1 million from December 31, 2024. As of June 30, 2025, OppFi had an additional $219.1 million of unused debt capacity under its financing facilities for future availability, representing a 42% overall undrawn capacity, an increase from $206.2 million as of December 31, 2024. The increase in undrawn debt was driven primarily by using excess cash to pay down debt on our term loan and adding an additional $50.0 million in capacity to one of our revolving lines of credit. Including total financing commitments of $525.0 million and cash and restricted cash on the balance sheet of $78.3 million, OppFi had approximately $603.3 million in funding capacity as of June 30, 2025.
Reconciliation of Non-GAAP Financial Measures
The following tables present reconciliations of non-GAAP financial measures for the three and six months ended June 30, 2025 and 2024 (in thousands, except share and per share data). Certain columns and rows may not sum due to the use of rounded numbers for disclosure purposes. Percentages presented are calculated from the underlying whole-dollar amounts.
Adjusted EBT and Adjusted Net Income
Comparison of the three months ended June 30, 2025 and 2024
|
Three Months Ended June 30, |
Variance |
|||||||
|
(Unaudited) |
2025 |
2024 |
$ |
% |
||||
|
Net income |
$ 11,480 |
$ 27,676 |
$ (16,196) |
(58.5) % |
||||
|
Income tax expense |
1,224 |
914 |
310 |
33.9 |
||||
|
Other income |
(79) |
(79) |
— |
— |
||||
|
Change in fair value of warrant liabilities |
33,304 |
976 |
32,328 |
3310.8 |
||||
|
Other adjustments, net(a) |
5,542 |
2,932 |
2,610 |
89.0 |
||||
|
Adjusted EBT |
51,471 |
32,419 |
19,052 |
58.8 |
||||
|
Less: pro forma taxes(b) |
12,070 |
7,638 |
4,432 |
58.0 |
||||
|
Adjusted net income |
$ 39,401 |
$ 24,781 |
$ 14,620 |
59.0 % |
||||
|
Adjusted earnings per share |
$ 0.45 |
$ 0.29 |
||||||
|
Weighted average diluted shares outstanding |
88,419,961 |
86,268,511 |
||||||
|
|
||||||||
|
|
Comparison of the six months ended June 30, 2025 and 2024
|
Six Months Ended June 30, |
Change |
|||||||
|
(Unaudited) |
2025 |
2024 |
$ |
% |
||||
|
Net income |
$ 31,870 |
$ 37,807 |
$ (5,937) |
(15.7) % |
||||
|
Income tax expense |
2,875 |
1,318 |
1,557 |
118.1 |
||||
|
Other income |
(159) |
(159) |
— |
— |
||||
|
Change in fair value of warrant liabilities |
54,911 |
(4,195) |
59,106 |
1409.1 |
||||
|
Other adjustments, net(a) |
6,152 |
9,136 |
(2,984) |
(32.7) |
||||
|
Adjusted EBT |
95,649 |
43,907 |
51,742 |
117.8 |
||||
|
Less: pro forma taxes(b) |
22,430 |
10,345 |
12,085 |
116.8 |
||||
|
Adjusted net income |
$ 73,219 |
$ 33,562 |
$ 39,657 |
118.2 % |
||||
|
Adjusted earnings per share |
$ 0.83 |
$ 0.39 |
||||||
|
Weighted average diluted shares outstanding |
88,208,125 |
86,148,477 |
||||||
|
|
||||||||
|
|
Adjusted Earnings Per Share
Comparison of the three months ended June 30, 2025 and 2024
|
Three Months Ended June 30, |
|||
|
(Unaudited) |
2025 |
2024 |
|
|
Weighted average Class A common stock outstanding |
26,610,330 |
19,675,934 |
|
|
Weighted average Class V voting stock outstanding |
60,251,993 |
91,380,789 |
|
|
Elimination of earnouts at period end |
— |
(25,500,000) |
|
|
Dilutive impact of restricted stock units |
1,304,191 |
642,306 |
|
|
Dilutive impact of performance stock units |
41,427 |
69,482 |
|
|
Dilutive impact of stock options |
212,020 |
— |
|
|
Weighted average diluted shares outstanding |
88,419,961 |
86,268,511 |
|
|
Three Months Ended |
Three Months Ended |
||||||
|
(In thousands, except share and per share data) |
June 30, 2025 |
June 30, 2024 |
|||||
|
(Unaudited) |
$ |
Per Share |
$ |
Per Share |
|||
|
Weighted average diluted shares outstanding |
88,419,961 |
86,268,511 |
|||||
|
Net income |
$ 11,480 |
$ 0.13 |
$ 27,676 |
$ 0.32 |
|||
|
Income tax expense |
1,224 |
0.01 |
914 |
0.01 |
|||
|
Other income |
(79) |
— |
(79) |
— |
|||
|
Change in fair value of warrant liabilities |
33,304 |
0.38 |
976 |
0.01 |
|||
|
Other adjustments, net(a) |
5,542 |
0.06 |
2,932 |
0.03 |
|||
|
Adjusted EBT |
51,471 |
0.58 |
32,419 |
0.38 |
|||
|
Less: pro forma taxes(b) |
12,070 |
0.14 |
7,638 |
0.09 |
|||
|
Adjusted net income |
$ 39,401 |
$ 0.45 |
$ 24,781 |
$ 0.29 |
|||
|
|
|||||||
|
|
Comparison of the six months ended June 30, 2025 and 2024
|
Six Months Ended June 30, |
|||
|
(Unaudited) |
2025 |
2024 |
|
|
Weighted average Class A common stock outstanding |
25,158,196 |
19,440,680 |
|
|
Weighted average Class V voting stock outstanding |
61,470,613 |
91,531,964 |
|
|
Elimination of earnouts at period end |
— |
(25,500,000) |
|
|
Dilutive impact of restricted stock units |
1,322,965 |
602,628 |
|
|
Dilutive impact of performance stock units |
51,902 |
73,205 |
|
|
Dilutive impact of stock options |
204,449 |
— |
|
|
Weighted average diluted shares outstanding |
88,208,125 |
86,148,477 |
|
|
Six Months Ended |
Six Months Ended |
||||||
|
(In thousands, except share and per share data) |
June 30, 2025 |
June 30, 2024 |
|||||
|
(Unaudited) |
$ |
Per Share |
$ |
Per Share |
|||
|
Weighted average diluted shares outstanding |
88,208,125 |
86,148,477 |
|||||
|
Net income |
$ 31,870 |
$ 0.36 |
$ 37,807 |
$ 0.44 |
|||
|
Income tax expense |
2,875 |
0.03 |
1,318 |
0.02 |
|||
|
Other income |
(159) |
— |
(159) |
— |
|||
|
Change in fair value of warrant liabilities |
54,911 |
0.62 |
(4,195) |
(0.05) |
|||
|
Other adjustments, net(a) |
6,152 |
0.07 |
9,136 |
0.11 |
|||
|
Adjusted EBT |
95,649 |
1.08 |
43,907 |
0.51 |
|||
|
Less: pro forma taxes(b) |
22,430 |
0.25 |
10,345 |
0.12 |
|||
|
Adjusted net income |
$ 73,219 |
$ 0.83 |
$ 33,562 |
$ 0.39 |
|||
|
|
|||||||
|
|
View original content:https://www.prnewswire.com/news-releases/oppfi-reports-record-quarterly-revenue-and-adjusted-net-income-and-increases-full-year-revenue-and-adjusted-net-income-guidance-302522578.html
SOURCE OppFi
