OppFi Inc Stock Price, News & Analysis

OppFi Inc. (NYSE: OPFI) has appointed Ms. Pamela Johnson as its new Chief Financial Officer, succeeding Mr. Shiven Shah, who held the position for five years. Johnson, who previously served as Chief Accounting Officer at OppFi, has over a decade of experience in finance, including roles at Heights Finance Corporation and Pioneer Financial Services. The transition is expected to be seamless as Shah will assist in an advisory role until the end of Q2 2022. This management change is anticipated to strengthen OppFi’s financial leadership amidst its mission for financial inclusion.

OppFi reported solid financial results for Q4 and full-year 2021 with net income of $17 million for Q4 and $90 million for the year. The company's adjusted net income rose by 19% year over year to $66 million. Revenue increased 4% to $95.96 million in Q4 and 20.5% to $350.57 million for the full year. Notable metrics include a 25% growth in net originations and a record total of $595 million for the year. Ending receivables also grew by 22% year over year. For 2022, the company anticipates revenue growth between 20% to 25% year-over-year.

OppFi (NYSE: OPFI) has filed a Complaint for Declaratory and Injunctive Relief against California's Department of Financial Protection and Innovation. The complaint, submitted on March 7, 2022, seeks to affirm that California's interest rate caps do not apply to loans from its bank partners. OppFi asserts that prior court rulings support its position, allowing it to serve approximately 7.2 million Californians needing credit. The company emphasizes its legal practices are compliant with both state and federal law.

OppFi (NYSE:OPFI) will release its fourth quarter and full year 2021 financial results on March 10, 2022, post-market. A conference call and webcast will follow at 5:00 pm ET to discuss these results, accessible via their Investor Relations page. The company is recognized for its financial technology services that help consumers access credit, with strong customer ratings and multiple accolades, including being part of the Inc. 5000 for six consecutive years.

OppFi Inc (NYSE: OPFI) has appointed Todd Schwartz as its new Chief Executive Officer, succeeding Neville Crawley, who has stepped down. Schwartz, a founder of the company, previously served as Executive Chairman. The Board believes Schwartz's experience uniquely positions him to lead OppFi in its next growth phase, focused on enhancing access to credit for consumers. The company has reaffirmed its financial outlook for 2021, projecting adjusted net income between $64 million and $66 million, alongside anticipated revenue of $350 million to $352 million.

OppFi Inc. has announced a share repurchase program allowing the purchase of up to $20 million of its Class A common stock, set to expire in December 2023. This initiative aims to support stockholders if the share price diverges from the company's perceived long-term value. The company's leadership emphasizes ongoing profitable growth and strategic investments to enhance customer experiences and market share.

OppFi has appointed Neville Crawley as the new CEO, effective December 31, 2021, succeeding Jared Kaplan. Crawley, who previously served as President since July 2021, is expected to lead the company's growth and expansion efforts in the fintech sector, focusing on providing credit access to underserved consumers. Kaplan will transition to an executive advisory role while remaining on the Board. Under Kaplan, OppFi has achieved significant milestones, including going public and receiving various accolades for growth and innovation.

OppFi Inc. (NYSE: OPFI) announces significant growth, surpassing two million issued OppLoans, utilizing alternative data for credit access. The platform has grown from 750,000 loans in 2019 to this milestone. With machine learning, auto approvals now reach 58%. New products, SalaryTap and OppFi Card, were launched, supported by expanded credit facilities. CEO Jared Kaplan emphasizes OppFi's commitment to enhancing financial services for underserved consumers, reflecting rapid market adaptation.

OppFi (NYSE: OPFI) has been recognized for the fourth consecutive year, ranking 335^th on the Deloitte Technology Fast 500™, which highlights the fastest-growing companies in North America. The company empowers everyday consumers by providing accessible credit through partnerships with banks. CEO Jared Kaplan emphasized their commitment to enhancing financial health for the 150 million consumers excluded from mainstream options. OppFi previously ranked higher in the Fast 500 list, showcasing its ongoing growth and innovation in the fintech space.