Oportun Financial Corp Stock Price, News & Analysis

Oportun Financial Corporation (Nasdaq: OPRT) announced the closure of a $150 million senior secured term loan maturing in 2026 from Neuberger Berman. This funding aims to bolster Oportun's growth and investment strategies amidst tighter credit standards. CFO Jonathan Coblentz emphasized that the loan will enhance capital and liquidity for future financing initiatives. Neuberger Berman's investment reflects confidence in Oportun's business model, which focuses on providing affordable financial services to underserved communities.

Oportun (Nasdaq: OPRT) will participate in the Barclays Global Financial Services Conference on September 13, 2022. CEO Raul Vazquez is set to engage in a fireside chat, available for streaming from 2:45 PM ET. This session will be accessible for 90 days via the company's investor relations website. Oportun, a fintech platform, has provided over $14 billion in responsible credit and helped members save more than $2.3 billion in fees since its inception. The firm is recognized as a Community Development Financial Institution, emphasizing affordable financial services.

Oportun Financial Corporation (Nasdaq: OPRT) reported strong second quarter results for 2022, with aggregate originations of $878 million, soaring 103% year-over-year. Total revenue reached $226 million, marking a 63% increase, driven by higher interest income. The company reported an annualized member growth of 38%, totaling 1.8 million members. However, Oportun revised its charge-off guidance upwards and lowered profit expectations due to a weakening macroeconomic backdrop. Despite a net loss of $9 million, the outlook remains positive for future profitable growth.

Oportun (Nasdaq: OPRT) will announce its financial results for Q2 2022 on August 8, 2022, after market close. A conference call to discuss the results will take place at 5:00 PM ET, accessible via dial-in or webcast. Oportun, a fintech platform, aims to enhance financial health for approximately 1.7 million members, providing over $13 billion in responsible credit since inception. Oportun has saved members $2.2 billion in interest and fees, highlighting its mission of offering inclusive financial services. It has been a certified Community Development Financial Institution since 2009.

Oportun (Nasdaq: OPRT) has priced $400 million of Series 2022-2 fixed rate asset-backed notes in a private securitization secured by a pool of installment loans. The transaction reflects investor confidence in Oportun’s financial strength and A.I. underwriting. The offering includes Class A, B, C, and D notes rated by DBRS, with a weighted average yield of 7.996% and interest rate of 7.77%. The closing is expected on July 22, 2022, subject to customary conditions. Oportun aims to leverage this funding for responsible growth in the asset-backed and debt capital markets.

Oportun (Nasdaq: OPRT) is set to engage investors at the Jefferies Consumer Conference and East Coast Ideas Conference. CEO Raul Vazquez will lead a fireside chat on June 20, available for viewing at 8 AM ET, for 30 days. Additionally, Oportun will present at the East Coast Ideas Conference on June 22 at 6 AM ET, accessible for 90 days. The webcasts can be found on Oportun’s Investor Relations website. The company, recognized as a Community Development Financial Institution, emphasizes inclusive financial services, having provided over $13 billion in affordable credit.