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 achieved its eighth consecutive year of profitability with a net income of $3.3 million for 2022. The company reported record total revenue of $452.9 million and demonstrated a 29.2% increase year-over-year. Despite its successes, net income decreased by 96.3% compared to 2021. The marketing cost per funded loan decreased 20% year-over-year, and a new $150 million credit facility was closed with Castlelake, enhancing funding capacity. For 2023, OppFi projects revenue growth of 10% to 15% and an adjusted net income of $22 million to $28 million.
OppFi Inc. (NYSE: OPFI) will report its financial results for Q4 and full year 2022 on March 23, 2023, after market close. A conference call will follow at 4:30 p.m. ET to discuss these results and the company's outlook. Investors can access a webcast and submit questions via email. OppFi, a fintech platform, aims to provide credit access to underserved Americans and boasts a 4.6/5.0 rating on Trustpilot. The company is also noted for its A+ rating from the Better Business Bureau. Forward-looking statements in the release caution that actual results may vary due to various risks and uncertainties.
OppFi (NYSE:OPFI) celebrates a significant milestone, surpassing 1 million unique customers and launching a same-day funding service on its OppLoans platform. This service allows qualified customers applying by 1:00 pm ET on business days to receive funds the same day. Approximately one-third of OppFi’s customers have benefited from this feature. The company emphasizes its commitment to enhancing customer financial health through partnerships with social impact organizations offering financial education and resources. CEO Todd Schwartz stated that these offerings cater to the financial needs of underserved Americans.
OppFi Inc. (NYSE:OPFI) has secured a $150 million credit facility with Castlelake L.P. and Hudson Cove Capital Management. This facility, with a 4-year term, aims to finance receivables growth and replace an existing facility due to mature in January 2024. CEO Todd Schwartz emphasized that this move will help expand credit access to 60 million underserved Americans and support profitable growth. The company is recognized for its strong consumer ratings, holding a 4.6/5.0 star rating on Trustpilot.
OppFi reported a 35% year-over-year revenue increase to $124.2 million for Q3 2022. Net originations rose 11% to $182.7 million, and ending receivables surged 39% to $407.7 million. Despite these gains, the company faced a net loss of $0.7 million with basic and diluted EPS at $(0.04). Adjusted net income fell 95.6% to $0.8 million, with adjusted EPS at $0.01. OppFi reaffirms a full-year revenue growth guidance of 20-25% and anticipates profitability improvements in 2023.
OppFi (NYSE: OPFI) provided a business update on its upcoming financial performance, projecting total revenue of approximately $124.2 million for Q3 2022, while estimating a net loss of around ($0.7) million. Adjusted net income is expected to be about $0.8 million. Despite the losses, the CEO expressed confidence in the company's ability to rebound in 2023 due to improved credit adjustments leading to lower delinquency rates. OppFi also scheduled its Q3 earnings call for November 9, 2022.
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.