OppFi Inc Stock Price, News & Analysis

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.

OppFi reported a 47% increase in revenue for Q3 2021, reaching $91.98 million. Adjusted revenue also grew by 25% year-on-year. Net income was $30.4 million, marking a 57% rise from the previous year. The company achieved a record $165 million in net originations, up 25% year-over-year. Despite these gains, adjusted net income fell 10.9% to $17.36 million. Full-year 2021 guidance remains at $350-$360 million in revenue, with expected adjusted EBITDA of $120-$125 million.

OppFi (NYSE: OPFI), a financial technology platform, is set to release its third-quarter financial results for the period ended September 30, 2021, post-market on November 11, 2021. Management will host a conference call and webcast to discuss the results at 5:00 pm ET on the same day. Investors can access a replay of the call on the company’s website until November 25, 2021. OppFi's platform facilitates various credit products and has received numerous accolades, including being listed on America's Best Startup Employers by Forbes.

OppFi has launched its first credit card, the OppFi Card, targeting the $21 billion non-prime credit card market. The initiative is supported by an amended $75 million credit facility from Atalaya Capital Management. This mobile-first card enables users to build credit history with instant issuance, allowing immediate access to card information for online and in-app purchases. CEO Jared Kaplan emphasized the card's role in providing access to underserved consumers, while the collaboration with Atalaya aims to broaden OppFi's services in the consumer finance sector.

OppFi (NYSE: OPFI) has successfully expanded its bank credit facility from $25 million to $45 million. This increase will support the growth of its SalaryTap product, which offers payroll-linked loans and is now available in 33 states. CEO Jared Kaplan highlighted the financial milestone and the growing market opportunity for SalaryTap. The company plans to further expand this product in the fourth quarter of 2021. Additional details can be found in the Current Report on Form 8-K filed with the SEC.

OppFi (NYSE: OPFI) will present at the JMP Securities Fintech Forum: Artificial Intelligence on September 10, 2021, at 1:30 PM EDT. CEO Jared Kaplan and Chief Risk and Analytics Officer Chris McKay will engage in a fireside chat. Interested parties can access the live audio webcast through the conference link or on the OppFi investor relations site. OppFi is a financial technology platform enabling banks to offer accessible credit products like OppLoans and OppFi Card. The company has received multiple accolades, including recognition from Inc. 5000 and Forbes in 2021.