OppFi Inc Stock Price, News & Analysis

OppFi (NYSE: OPFI) announced its participation in the 4th Annual Needham Virtual FinTech & Digital Transformation 1x1 Conference on August 17, 2022. CEO Todd Schwartz and CFO Pam Johnson will meet with institutional investors. Interested parties can contact Needham or OppFi's investor relations for scheduling details. OppFi is a financial technology platform focused on providing credit access to consumers often overlooked by traditional banks. The company boasts a 4.7/5.0 star rating on Trustpilot and an A+ rating from the Better Business Bureau.

OppFi reported a 38% year-over-year revenue increase to $107.9 million for Q2 2022, alongside a 57% rise in net originations to $226.2 million. However, net income fell by 47% to $9.5 million, and adjusted net income dropped 61.7% to $6.8 million. EPS was reported at $0.26 basic and $0.10 diluted. The company anticipates 20% to 25% revenue growth for the full year, while adjusting guidance due to inflation-related credit deterioration.

OppFi (NYSE:OPFI) announced it will release its financial results for Q2 2022 on August 9, 2022, after market close. Management will discuss results and future outlook during a conference call at 4:30 p.m. ET on the same day. OppFi is recognized for providing consumers access to credit, and it has received accolades from the Deloitte North America Technology Fast 500 for multiple consecutive years. The company holds a high customer satisfaction rating of 4.7/5.0 on Trustpilot, reflecting its dedication to service.

OppFi (NYSE: OPFI) has been added to the Russell 2000 Index, along with the Russell 3000 and Russell Microcap Indexes. This addition marks a significant milestone in the company's first year as a publicly-traded entity. CEO Todd Schwartz expressed optimism that this inclusion will elevate OppFi's visibility among investors, aligning with their mission to provide credit access to 60 million underserved Americans. Russell indexes are crucial for investment managers and institutional investors.

Ryan Williams, Founder of Cadre, transitions to Executive Chairman as Jared Kaplan, former CEO of OppFi, is appointed as the new CEO. Kaplan brings extensive fintech experience, aiming to accelerate Cadre's growth and expand its investment offerings for diverse investors. Cadre has achieved a significant milestone, closing over $5 billion in real estate transactions and a 75% year-over-year growth in individual investors. This leadership change is expected to strategically enhance partnerships and product development at Cadre.

OppFi Inc. (NYSE: OPFI) announced a significant expansion of its credit facility with Atalaya Capital Management, increasing it from $75 million to $200 million. This enhancement will support the company's strategy for profitable growth and fund receivables growth while refinancing existing debt. CEO Todd Schwartz noted record consumer demand, indicating a robust market position. This upsized facility comes amid inflationary pressures impacting consumers, emphasizing OppFi's commitment to meet increasing credit demand.

OppFi (NYSE: OPFI) announced a $20 million share repurchase program, implementing a 10b5-1 trading plan effective June 10, 2022, to buy back Class A common stock during its quarterly earnings blackout. The Schwartz family purchased $1.9 million of shares at an average price of $3.13, totaling 608,217 shares, believing the stock price is undervalued. These actions reflect confidence in the company's growth prospects, as OppFi emphasizes its commitment to facilitating credit access to underserved consumers.

OppFi reported a 20% revenue increase year-over-year to $100.7 million for Q1 2022, alongside a remarkable 63% growth in net originations to $162.8 million. Ending receivables grew 38% to $338.5 million. The company experienced a net loss of $(0.3 million, with adjusted net income at $0.6 million and basic EPS at $0.08. OppFi reaffirms its full-year 2022 guidance, anticipating 20% to 25% growth in revenue and receivables, with a target adjusted EBITDA margin between 20% and 25%.

OppFi Inc. (NYSE: OPFI) has appointed Manuel Chagas as Chief Operating Officer and Shaun Smolarz as Head of Investor Relations. Chagas will oversee operations and banking partnerships, aiming for improved productivity and employee engagement. He brings valuable experience from Discover Financial Services. Smolarz, with over a decade in capital markets, will enhance investor relations and expand analyst coverage. Both appointments are expected to bolster OppFi's growth strategy and shareholder value.