Stonegate Capital Partners Updates Coverage on OppFi, Inc. (OPFI) 4Q25

Rhea-AI Summary

OppFi (NYSE: OPFI) reported a strong FY25 with record revenue of $597.1M, adjusted net income of $139.8M (up 69.1% y/y) and adjusted EPS of $1.59 (up $0.64 y/y). GAAP net income rose 74.4% to $146.2M.

Management cited Model 6, risk-based pricing, and operating discipline for margin improvement. The company repurchased $15.5M of shares at an average $10.04, with $20.9M still available. FY26 guidance supports continued momentum while recent credit pressure is described as temporary.

Positive

• Record revenue of $597.1M in FY25
• Adjusted net income $139.8M (+69.1% y/y)
• GAAP net income $146.2M (+74.4% y/y)
• Repurchased $15.5M of shares at $10.04 average
• Management reports improved unit economics and margin conversion

Negative

• Recent credit pressure noted as a potential near-term headwind

Key Figures

FY25 revenue: $597.1M FY25 adjusted net income: $139.8M FY25 adjusted EPS: $1.59 +5 more

8 metrics

FY25 revenue $597.1M Record FY25 revenue, up 13.5% year-over-year

FY25 adjusted net income $139.8M Record FY25 adjusted net income, up 69.1% year-over-year

FY25 adjusted EPS $1.59 FY25 adjusted EPS, up $0.64 year-over-year

FY25 GAAP net income $146.2M FY25 GAAP net income, up 74.4% year-over-year

Adjusted EPS increase $0.64 Year-over-year increase in adjusted EPS

Share repurchases $15.5M Capital returned via FY25 share repurchases

Average buyback price $10.04 Average price paid for repurchased shares in FY25

Remaining authorization $20.9M Unutilized share repurchase authorization after FY25 buybacks

Market Reality Check

Price: $8.30 Vol: Volume 1,381,728 is 2.94x...

high vol

$8.30 Last Close

Volume Volume 1,381,728 is 2.94x the 20-day average of 470,069, indicating elevated interest into this update. high

Technical Shares at $8.66 trade below the $10.73 200-day MA and are 42.38% below the $15.03 52-week high, but 14.85% above the $7.54 52-week low.

Peers on Argus

OPFI declined 5.87%, a larger move than key Credit Services peers, where names l...

OPFI declined 5.87%, a larger move than key Credit Services peers, where names like WRLD, LX, ATLC, and EZPW were down between roughly 0.34% and 2.82%, while GDOT was slightly positive. This points to a more company-specific reaction.

Historical Context

5 past events · Latest: Mar 11 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 11	Full-year earnings	Positive	-5.9%	Record 2025 revenue, net income and raised 2026 guidance.
Feb 26	Earnings call notice	Neutral	+0.3%	Announcement of date and time for 4Q25 earnings call.
Nov 06	Conference appearance	Positive	+5.2%	Participation in Stephens investment conference highlighting the business model.
Oct 30	Research update	Positive	-7.2%	Stonegate 3Q25 report citing record revenue and raised FY25 guidance.
Oct 29	Quarterly earnings	Positive	+3.8%	Record 3Q25 revenue and earnings with higher full-year guidance.

Pattern Detected

Recent history shows OPFI occasionally selling off on fundamentally strong updates, with notable declines after positive 3Q25 and FY25 results, while other positive news (record 3Q25 earnings, conference appearance) saw gains.

Recent Company History

Over the past several months, OppFi has reported multiple periods of record revenue and earnings, including strong 3Q25 results and raised FY25 guidance, followed by FY25 record revenue and net income. Stonegate has periodically updated coverage around these milestones. Price reactions have been mixed: some positive earnings and guidance news led to gains, while other strong fundamental updates coincided with selloffs. Today’s coverage update reiterates the FY25 strength and capital returns highlighted in the recent 8-K and earnings release.

Market Pulse Summary

This announcement highlights Stonegate’s updated coverage following OppFi’s FY25 breakout year, with...

Analysis

This announcement highlights Stonegate’s updated coverage following OppFi’s FY25 breakout year, with record revenue of $597.1M, adjusted net income of $139.8M, and adjusted EPS of $1.59. The note emphasizes improved unit economics, margin expansion, and $15.5M of share repurchases with $20.9M remaining authorized. In context of recent earnings and 8-K disclosures, investors may focus on the durability of credit performance, funding costs, and ongoing capital return capacity.

Key Terms

risk-based pricing

1 terms

risk-based pricing financial

"Results were driven by Model 6, broader use of risk-based pricing, and solid..."

Risk-based pricing is a method lenders use to determine the interest rate or cost they charge a borrower based on the level of risk they pose. If someone is considered higher risk—perhaps due to a less stable financial situation—they will be charged a higher rate, similar to how insurance premiums increase with greater perceived danger. This approach helps lenders balance potential losses with the opportunity to earn fair compensation for the risk taken.

AI-generated analysis. Not financial advice.

Dallas, Texas--(Newsfile Corp. - March 12, 2026) - OppFi, Inc. (NYSE: OPFI): Stonegate Capital Partners Updates Coverage on OppFi (NYSE: OPFI). OppFi exited FY25 with strong momentum, delivering record revenue of $597.1M, adj net income of $139.8M, and adj EPS of $1.59, up 13.5%, 69.1%, and $0.64 y/y, respectively, while GAAP net income rose 74.4% to $146.2M. Results were driven by Model 6, broader use of risk-based pricing, and solid operating discipline, which improved unit economics and margin conversion. Management also returned capital, repurchasing $15.5M of shares at an average price of $10.04, with $20.9M remaining under authorization. Overall, FY25 marked a meaningful step forward in profitability, underwriting, and capital return capacity.

To view the full announcement, including downloadable images, bios, and more, click here.

Key Takeaways:

• FY25 was a breakout year. Record revenue, earnings, and margin expansion highlighted stronger scale, pricing discipline, and operating efficiency.
• Capital flexibility improved meaningfully. Strong free cash flow, ample liquidity, lower funding costs, and buybacks strengthened financial flexibility.
• FY26 guidance supports continued momentum. Management expects solid growth, while recent credit pressure appears temporary rather than structural.

Click image above to view full announcement.

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About Stonegate

Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking, equity research and capital raising for public and private companies.

Contacts:

Stonegate Capital Partners
(214) 987-4121
info@stonegateinc.com

Source: Stonegate, Inc.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288257

FAQ

What were OppFi's FY25 revenue and earnings results (OPFI)?

OppFi reported $597.1M revenue and adjusted net income of $139.8M for FY25. According to OppFi, GAAP net income rose to $146.2M, driven by Model 6, risk-based pricing and improved operating discipline.

How did OppFi's adjusted EPS change in FY25 and what does it mean for OPFI shareholders?

Adjusted EPS reached $1.59, up $0.64 year-over-year, signaling margin expansion. According to OppFi, stronger unit economics and pricing discipline fueled EPS growth and profitability improvement for shareholders.

How much share repurchase did OppFi complete and what buyback capacity remains for OPFI?

OppFi repurchased $15.5M of shares at an average price of $10.04. According to OppFi, approximately $20.9M remains available under the current authorization for future buybacks.

What drove OppFi's FY25 performance and how sustainable are those drivers for OPFI in FY26?

Management attributes performance to Model 6, broader risk-based pricing, and operating discipline. According to OppFi, these drivers improved margins and the FY26 guidance supports continued momentum, while credit pressure is seen as temporary.

Does OppFi's FY26 guidance indicate continued growth for OPFI?

Yes, FY26 guidance supports continued momentum and expects solid growth. According to OppFi, improved free cash flow, liquidity, lower funding costs, and buybacks underpin ongoing financial flexibility and growth potential.