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 tech-enabled digital finance platform that partners with banks to offer financial products and services to everyday Americans, particularly consumers underserved by traditional financing options. The OppFi news feed on Stock Titan aggregates company announcements, earnings updates, capital markets activity, and other disclosures that the company releases through press wires and regulatory channels.
Readers can use this page to follow OppFi’s quarterly and year-to-date financial results, including total revenue, net income, adjusted net income, and related non-GAAP metrics that the company highlights in its earnings press releases. OppFi also reports key operating indicators such as total net originations, retained net originations, ending receivables, net charge-off ratios, average yield, and auto-approval rates, which are often discussed in its quarterly updates.
In addition to earnings news, OppFi issues press releases on topics such as new or amended revolving credit facilities designed to support growth in finance receivables, changes to its share repurchase program for Class A common stock, and supplemental information about outstanding public warrants. The company also announces participation in investor conferences and schedules for upcoming earnings conference calls, often providing webcast details and references to investor presentations.
This news page provides a centralized view of these developments so that investors and observers can track how OppFi describes its financial performance, capital structure, funding arrangements, and strategic priorities over time. For deeper detail on any headline, users can review the underlying press release or associated SEC filing linked from individual news items.
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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