Welcome to our dedicated page for OppFi news (Ticker: OPFI), a resource for investors and traders seeking the latest updates and insights on OppFi stock.
OppFi Inc (NYSE: OPFI) is a technology-driven specialty finance platform expanding credit access through innovative partnerships with community banks. This page aggregates official announcements, financial disclosures, and market developments related to OppFi's mission of modernizing inclusive lending solutions.
Investors and industry observers will find timely updates on earnings reports, strategic partnerships, product launches, and regulatory filings. The curated collection serves as a historical record and real-time tracker of OppFi's evolving position in the fintech sector.
Key content categories include quarterly financial results, leadership updates, technology enhancements to its lending platform, and analyses of credit market trends impacting OppFi's operations. All materials are sourced directly from company filings and authorized communications.
Bookmark this page for streamlined access to OppFi's latest developments in specialty finance, including progress on initiatives like SalaryTap loans and digital underwriting innovations. Check back regularly for verified updates presented in chronological order.
OppFi Inc. (NYSE: OPFI), a tech-enabled specialty finance platform, has announced its participation in the Sidoti Micro-Cap Virtual Conference on August 14-15, 2024. The company's CFO, Pam Johnson, and Head of Investor Relations, Shaun Smolarz, will present on August 15 at 1:45 p.m. ET and engage in one-on-one meetings with investors.
OppFi aims to broaden credit access for everyday Americans through community banks. The company maintains a 4.5/5.0 star rating on Trustpilot with over 4,400 reviews. Additionally, OppFi holds a 35% equity interest in Bitty Advance, a company offering revenue-based financing to small businesses.
Stonegate Capital Partners has updated its coverage on OppFi, Inc. (NYSE: OPFI) for Q2 2024. The report highlights several key developments for the company:
1. OppFi has raised its guidance, indicating improved financial outlook.
2. The company achieved a significant year-over-year revenue margin expansion of 743 basis points, demonstrating substantial improvement in profitability.
3. OppFi has completed the acquisition of a 35% equity interest in BittyAdvance, potentially expanding its market presence and service offerings.
These updates suggest positive momentum for OppFi's financial performance and strategic growth initiatives.
OppFi Inc. (NYSE: OPFI) reported record second quarter profitability and revenue for 2024, prompting a significant increase in full-year earnings outlook. Key highlights include:
- Net income up 53.1% YoY to $27.7 million
- Adjusted net income up 56.2% YoY to $24.8 million
- Total revenue increased 3.1% YoY to $126.3 million
- Basic and diluted EPS of $0.16
- Adjusted EPS up 53.5% YoY to $0.29
The company raised its full-year 2024 adjusted EPS guidance to $0.73-$0.75 from $0.58-$0.62. OppFi also issued its first special dividend, repurchased $2.5 million of Class A common stock, and paid down $10 million of senior debt, demonstrating strong financial performance and balance sheet strength.
OppFi Inc. (NYSE: OPFI) has acquired a 35% equity interest in Bitty Advance, a profitable and growing platform that provides credit access to underserved small businesses. The transaction implies a 6.0x purchase multiple on adjusted net income for the trailing twelve months ending March 31, 2024, and is expected to be immediately accretive to OppFi earnings. Bitty, led by industry leader Craig Hecker, has facilitated funding to over 29,000 small businesses since 2020, with products ranging from $2,000 to $250,000.
The acquisition aligns with OppFi's mission to facilitate credit access to everyday Americans and provides a foundation for OppFi's new vertical in small business financing. OppFi anticipates that Bitty would contribute approximately $0.03 in adjusted earnings per share to its consolidated results on an annualized basis.
OppFi (NYSE: OPFI), a tech-enabled finance platform, will announce its Q2 2024 financial results on August 7, 2024, before the market opens.
Management will host a conference call at 9:00 a.m. ET on the same day to discuss the results and business outlook. Investors can access the webcast via the Company's Investor Relations website. For those wishing to join via phone, the domestic dial-in number is (800) 225-9448 and the international dial-in number is (203) 518-9708. The Conference ID is OPPFI. An archived version of the webcast will also be available on the website.
Stonegate Capital Partners updates their coverage on OppFI, Inc. (NYSE: OPFI), highlighting a raised guidance, year-over-year revenue margin expansion of 213bps, and a special dividend paid in the quarter due to a strong Balance Sheet.
OppFi Inc. (NYSE: OPFI) reported financial results for Q1 2024, surpassing guidance. Total revenue increased 5.8% YoY to $127.3 million, with net income up 157.8% YoY to $10.1 million. Adjusted net income rose 127.8% to $8.8 million. EPS showed growth, with Basic EPS at $0.29 and Diluted EPS at $0.10. Unrestricted cash stood at $47.2 million. Full-year adjusted EPS guidance was raised to $0.58-$0.62.
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