OppFi (NYSE: OPFI) boosts Q1 2026 profit and launches $40M stock repurchase plan
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
OppFi Inc. reported record first-quarter 2026 revenue and sharply higher profits while announcing a major new buyback plan. Total revenue rose 8.3% year over year to $151.9 million, driven by higher receivables. Net income jumped to $54.0 million, with net income attributable to OppFi at $28.4 million, compared with a loss a year earlier.
On a non-GAAP basis, Adjusted net income declined 11.2% to $30.0 million and Adjusted EPS slipped to $0.35 as credit costs increased; net charge-offs rose to 42.5% of total revenue and 55.5% of average receivables, annualized. Free cash flow improved to $69.3 million.
During the quarter, OppFi repurchased 1,040,699 Class A shares for $9.9 million at an average price of $9.54. The board has approved a new share repurchase program authorizing up to $40 million of additional Class A common stock repurchases through May 2029, replacing the prior program. The company also issued full-year 2026 guidance, targeting total revenue of $650 million to $675 million, Adjusted net income of $153 million to $160 million, and Adjusted EPS of $1.76 to $1.84.
Positive
- Record revenue and profit growth: Total revenue reached $151.9 million, up 8.3% year over year, while net income rose 165.0% to $54.0 million, and net income attributable to OppFi improved from a loss to $28.4 million.
- Robust cash generation and capital return: Free cash flow increased to $69.3 million in Q1 2026, and the board authorized a new $40 million share repurchase program through May 2029 after buying back $9.9 million of stock in the quarter.
Negative
- Higher credit losses and softer non-GAAP earnings: Net charge-offs rose to 42.5% of total revenue and 55.5% of average receivables, annualized, contributing to an 11.2% decline in Adjusted net income to $30.0 million and a 9.3% drop in Adjusted EPS to $0.35.
- Pressure on underlying profitability: Despite higher total revenue, net revenue decreased 3.9% to $87.3 million, and total net originations fell 7.0% year over year to $176.0 million, signaling some volume and margin headwinds.
Insights
Strong GAAP earnings and cash generation offset by higher credit losses and softer non-GAAP profit.
OppFi delivered record Q1 2026 revenue of $151.9 million, up 8.3%, while net income climbed to $54.0 million. The swing from a prior-period loss attributable to OppFi Inc. to $28.4 million profit indicates much stronger headline profitability.
However, credit quality metrics weakened. Net charge-offs rose to 42.5% of total revenue and 55.5% of average receivables, annualized, contributing to an 11.2% decline in Adjusted net income to $30.0 million and Adjusted EPS of $0.35. Net revenue actually fell 3.9%, indicating higher loss content in the portfolio.
Capital deployment is notable: the company generated $69.3 million of free cash flow in Q1 and repurchased about 1.0 million shares for $9.9 million. The new $40 million repurchase authorization through May 2029, plus full-year 2026 guidance of $650–$675 million revenue and $153–$160 million Adjusted net income, underscores an internally funded growth and return-of-capital stance.
8-K Event Classification
4 items: 2.02, 7.01, 8.01, 9.01
4 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Total revenue Q1 2026: $151.9M
Net income Q1 2026: $54.0M
Adjusted net income Q1 2026: $30.0M
+5 more
8 metrics
Total revenue Q1 2026
$151.9M
Three months ended March 31, 2026; up 8.3% year over year
Net income Q1 2026
$54.0M
Three months ended March 31, 2026; up 165.0% year over year
Adjusted net income Q1 2026
$30.0M
Non-GAAP; down 11.2% versus Q1 2025
Adjusted EPS Q1 2026
$0.35
Non-GAAP diluted basis; down from $0.38 in Q1 2025
Net charge-offs vs revenue
42.5%
Net charge-offs as % of total revenue in Q1 2026; up from 34.6%
Free cash flow Q1 2026
$69.3M
Three months ended March 31, 2026; up 40.1% year over year
New repurchase authorization
$40M
Share repurchase program for Class A common stock, expiring May 2029
2026 revenue guidance
$650M–$675M
Full-year 2026 total revenue outlook
Key Terms
Adjusted net income, Adjusted EPS, Net charge-offs, share repurchase program, +2 more
6 terms
Adjusted net income financial
"Adjusted net income(2) $ 30,045 $ 33,817 (11.2) %"
Adjusted net income is a company's reported profit after removing unusual, one-time, or non-operational items so the number reflects the business’s regular earning power. Investors use it like a cleaned-up scorecard — similar to judging a player’s season performance without a few fluke games — to compare companies or assess trends without being misled by rare gains or losses that won’t affect future cash flow.
Adjusted EPS financial
"Adjusted EPS(2,3) $ 0.35 $ 0.38 (9.3) %"
Adjusted earnings per share (adjusted eps) is a measure of a company's profit per share that has been modified to exclude certain one-time or unusual items, such as costs from restructuring or asset sales. It provides a clearer picture of the company’s core performance by removing events that may distort the usual earnings. Investors use adjusted eps to better understand a company's ongoing profitability and compare it more accurately over time.
Net charge-offs financial
"Net charge-offs as % of total revenue(c) 42.5 % 34.6 %"
Net charge-offs are the amount of loans or credit a lender removes from its books as uncollectible after subtracting any money later recovered from previously written-off accounts. Think of it like a store writing off unpaid tabs but getting back a few dollars later — the net figure shows the real loss. Investors watch this to judge a lender’s loan quality, future profits and how much capital may be needed to cover bad debts.
non-GAAP financial measures financial
"Adjusted Net Income and Adjusted EPS are non-GAAP financial measures."
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
free cash flow financial
"Free cash flow 1 69,343$ 49,499$ 19,844$ 40.1%"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
Earnings Snapshot
Total revenue: $151.9M · Guidance included
Q1 2026
Total revenue
$151.9M
+8.3% year over year
Net income
$54.0M
+165.0% year over year
Net income attributable to OppFi Inc.
$28.4M
from $(11.4)M loss year over year
Adjusted net income
$30.0M
-11.2% year over year
Diluted EPS
$0.56
improved from $(0.48) year over year
Adjusted EPS
$0.35
-9.3% year over year
Guidance
For full-year 2026, OppFi guides to total revenue of $650M–$675M, Adjusted net income of $153M–$160M, and Adjusted EPS of $1.76–$1.84 based on approximately 87M diluted shares.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (Date of earliest event reported): May 6, 2026
(Exact Name of Registrant as Specified in its Charter)
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number, including area code: (312 ) 212-8079
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol | Name of Each Exchange on Which Registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On May 7, 2026, OppFi Inc. (“OppFi” or the “Company”) issued a press release announcing the financial results for the first quarter ended March 31, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
This information and the information contained in Exhibit 99.1 is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as may be expressly set forth by specific reference in any such filing, regardless of any general incorporation language in the filing.
Item 7.01 Regulation FD Disclosure.
On May 7, 2026, OppFi issued an earnings presentation to accompany the press release. A copy of the earnings presentation is furnished as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.
This information and the information contained in Exhibit 99.2 is furnished and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or incorporated by reference in any filing under the Securities Act or the Exchange Act, except as may be expressly set forth by specific reference in any such filing, regardless of any general incorporation language in the filing.
Item 8.01 Other Events.
On May 6, 2026, the Company’s Board of Directors approved a new share repurchase program (the “Repurchase Program”) under which the Company may repurchase up to $40 million of its Class A Common Stock (“Common Stock”). The Repurchase Program replaces the Company’s prior share repurchase program, which was terminated.
Repurchases under the Repurchase Program may be made from time to time on the open market, through privately negotiated transactions, or via other methods, at the discretion of the management of the Company and in accordance with the limitations set forth in Rule 10b-18 promulgated under the Exchange Act and other applicable securities laws and legal requirements, including restrictions in the Company’s existing credit facilities. Repurchases may be made pursuant to any trading plan that may be adopted in accordance with SEC Rule 10b5-1, which would permit Common Stock to be repurchased when the Company might otherwise be precluded from doing so under trading laws. The timing and amount of repurchases will depend on market conditions, share price, trading volume, and other factors. The Repurchase Program does not obligate the Company to repurchase any specific dollar amount or number of shares, and the Repurchase Program may be extended, modified, suspended, or discontinued at any time. The Repurchase Program will expire in May 2029.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit Index
| Exhibit Number | Description | |||||||
| 99.1 | Press Release from OppFi Inc. dated May 7, 2026, entitled “OppFi Reports First Quarter 2026 Results, Record Quarterly Revenue.” | |||||||
| 99.2 | OppFi Inc. Presentation dated May 7, 2026. | |||||||
| 104 | Cover Page Interactive Data File (the cover page tags are embedded within the Inline XBRL document). | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: May 7, 2026 | OppFi Inc. | |||||||
| By: | /s/ Pamela D. Johnson | |||||||
| Pamela D. Johnson | ||||||||
| Chief Financial Officer | ||||||||
NEWS RELEASE OppFi Reports First Quarter 2026 Results, Record Quarterly Revenue 2026-05-07 Total revenue increased 8.3% year over year to $151.9 million, a Company record for the �rst quarter Net income increased 165.0% year over year to $54.0 million Adjusted net income1 decreased 11.2% year over year to $30.0 million Board approves new $40 million Share Repurchase Program CHICAGO, May 7, 2026 /PRNewswire/ -- OppFi Inc. (NYSE: OPFI) ("OppFi" or the "Company"), a tech-enabled digital �nance platform that partners with banks to o�er �nancial products and services to everyday Americans, today reported �nancial results for the �rst quarter ended March 31, 2026. "Operationally, OppFi had a healthy start to 2026, generating record �rst-quarter revenue, which re�ects the strength of our core operations. Strategically, we believe 2026 is a pivotal year of investment for OppFi as we evolve the business with the transformative combination of OppFi's digital-�rst platform and BNC's national bank charter. This initiative unlocks signi�cant opportunities for growth and product diversi�cation. Combining our operations under uni�ed regulatory supervision by the OCC and Federal Reserve simpli�es and strengthens our compliance and risk management, which positions us for long-term scalability and sustainable growth," said Todd Schwartz, CEO and Executive Chairman of OppFi. Our new share repurchase program re�ects our continued con�dence in OppFi's long-term growth prospects, our commitment to returning value to our stockholders and belief that our stock currently trades at a signi�cant discount to its underlying value," Todd Schwartz added. 1
(1) Non-GAAP Financial Measures: Adjusted Net Income and Adjusted EPS are non-GAAP financial measures. See "Reconciliation of Non-GAAP Financial Measures" below for a detailed description and reconciliation of such non-GAAP financial measures to their most directly comparable GAAP financial measures. Financial Summary The following table presents a summary of OppFi's results for the three months ended March 31, 2026 and 2025 (in thousands, except per share data)†. Certain columns and rows may not sum due to the use of rounded numbers for disclosure purposes. Percentages presented are calculated from the underlying whole-dollar amounts. Three Months Ended March 31, Change (Unaudited) 2026 2025 % Total revenue(1) $ 151,881 $ 140,268 8.3 % Net income $ 54,038 $ 20,390 165.0 % Net income (loss) attributable to OppFi Inc. $ 28,401 $ (11,372) 349.7 % Adjusted net income(2) $ 30,045 $ 33,817 (11.2) % Basic EPS $ 1.06 $ (0.48) 321.0 % Diluted EPS(3) $ 0.56 $ (0.48) 215.7 % Adjusted EPS(2,3) $ 0.35 $ 0.38 (9.3) % † The financial results do not reflect the simplification of OppFi's corporate structure to collapse its prior Up-C structure, which occurred after the end of the quarter. (1) Total revenue is calculated as the sum of interest on finance receivables and other revenue. (2) Adjusted Net Income and Adjusted EPS are non-GAAP financial measures. See "Reconciliation of Non-GAAP Financial Measures" below for a detailed description and reconciliation of such non-GAAP financial measures to their most directly comparable GAAP financial measures. (3) Diluted EPS calculated on a GAAP basis excludes dilutive securities, including Class V Voting Stock, restricted stock units, performance stock units, and stock options in any periods in which their inclusion would have an antidilutive effect. Key Performance Metrics The following table represents key quarterly metrics as of and for the three months ended March 31, 2026 and 2025 (in thousands, except percentage metrics). As of and for the Three Months Ended (Unaudited) March 31, 2026 March 31, 2025 Total net originations(a) $ 175,975 $ 189,168 Total retained net originations(a) $ 151,449 $ 168,963 Ending receivables(b) $ 444,922 $ 406,579 Net charge-offs as % of total revenue(c) 42.5 % 34.6 % Net charge-offs as % of average receivables, annualized(c) 55.5 % 47.0 % Average yield, annualized(d) 130.7 % 135.8 % Auto-approval rate(e) 79 % 79 % 2
(a) Total net originations are defined as gross originations net of transferred balance on refinanced loans, while total retained net originations are defined as the portion of total net originations with respect to which the Company ultimately purchased a receivable from bank partners. (b) Ending receivables are defined as the unpaid principal balances of loans at the end of the reporting period. (c) Net charge-offs as a percentage of total revenue and net charge-offs as a percentage of average receivables represent total charge-offs from the period less recoveries as a percentage of total revenue and as a percentage of average receivables. Net charge-offs as a percentage of average receivables is presented as an annualized metric. Finance receivables are charged off at the earlier of the time when accounts reach 90 days past due on a recency basis, when OppFi receives notification of a customer bankruptcy or is otherwise deemed uncollectible. (d) Average yield is defined as total revenue from the period as a percent of average receivables and is presented as an annualized metric. (e) Auto-approval rate is calculated by taking the number of approved loans that are not decisioned by a loan processor or underwriter (auto- approval) divided by the total number of loans approved. Share Repurchase Program During the three months ended March 31, 2026, OppFi repurchased 1,040,699 shares of Class A Common Stock, which were held as treasury stock, for an aggregate purchase price of $9.9 million at an average purchase price per share of $9.54. As of March 31, 2026, $11.0 million of the repurchase authorization under the Company's prior repurchase program remained available. On May 6, 2026, the Board of Directors of OppFi approved a new share repurchase program under which the Company may repurchase up to $40 million of its Class A Common Stock. This new program replaces the Company's prior share repurchase program, which was terminated. Repurchases under the new program may be made from time to time on the open market, through privately negotiated transactions, or via other methods, in accordance with applicable securities laws and other relevant legal requirements. The timing and amount of repurchases will depend on market conditions, share price, trading volume and other factors. The new program does not obligate the Company to repurchase any speci�c dollar amount or number of shares, and it may be extended, modi�ed, suspended or discontinued at any time. Conference Call Management will host a conference call today at 9:00 a.m. ET to discuss OppFi's �nancial results and business outlook. The webcast of the conference call will be made available on the Investor Relations page of the Company's website. The conference call can also be accessed with the following dial-in information: Domestic: (800) 579-2543 International: (785) 424-1789 Conference ID: OPPFI An archived version of the webcast will be available on OppFi's website. About OppFi 3
OppFi (NYSE: OPFI) is a tech-enabled digital �nance platform that partners with banks to o�er �nancial products and services to everyday Americans. Through this transparent and responsible platform, which emphasizes �nancial inclusion and exceptional customer experience, the Company assists consumers who are underserved by traditional �nancing options in building improved �nancial health. OppLoans by OppFi maintains a 4.4/5.0 star rating on Trustpilot based on over 5,500 reviews, positioning the Company among the top consumer-rated �nancial platforms online. OppFi also holds a 35% equity interest in Bitty Holdings, LLC ("Bitty"), a credit access company that provides revenue-based �nancing and other working capital solutions to small businesses. For additional information, please visit opp�.com. Important Additional Information will be Filed with the SEC In connection with the proposed transaction between OppFi and BNCCORP, Inc. ("BNCC"), OppFi will �le with the U.S. Securities and Exchange Commission (the "SEC") a registration statement on Form S-4 (the "registration statement"), which will contain a proxy statement of BNCC and a prospectus of OppFi (the "proxy statement/prospectus"), and OppFi may �le with the SEC other relevant documents regarding the proposed transaction. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT AND THE PROXY STATEMENT/PROSPECTUS CAREFULLY AND IN THEIR ENTIRETY AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC BY OPPFI, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT OPPFI, BNC AND THE PROPOSED TRANSACTION. A de�nitive copy of the proxy statement/prospectus will be mailed to stockholders of BNCC when that document is �nal. Investors and security holders will be able to obtain the registration statement and the proxy statement/prospectus, as well as other �lings containing information about OppFi, free of charge from OppFi or from the SEC's website when they are �led by OppFi. The documents �led by OppFi with the SEC may be obtained free of charge at OppFi's website, at https://investors.opp�.com/�nancials/sec-�lings/default.aspx, or by requesting them by mail at 130 E. Randolph Street, Suite 3400, Chicago, IL 60601 or by email at corporate.secretary@opp�.com. Participants in a Solicitation This communication is not a solicitation of a proxy from any security holder of BNCC or OppFi. However, OppFi, BNCC and certain of their respective directors and executive o�cers may be deemed to be participants in a solicitation of proxies from the stockholders of BNCC in respect of the proposed transaction. Information about OppFi's directors and executive o�cers is available in its Annual Report on Form 10-K for the year ended December 31, 2025 and other documents �led by OppFi with the SEC. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be �led with the SEC when they become available. Free copies of this document may be obtained as 4
described in the preceding paragraph. This communication shall not constitute an o�er to sell or the solicitation of an o�er to buy any securities of OppFi or a solicitation of any vote or approval with respect to the proposed transaction by OppFi or BNCC, nor shall there be any sale of securities in any jurisdiction in which such o�er, solicitation or sale would be unlawful prior to registration or quali�cation under the securities laws of any such jurisdiction. No o�ering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended. Contacts: Investor Relations: Mike Gallentine Head of Investor Relations mgallentine@opp�.com Media Relations: media@opp�.com Forward-Looking Statements This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. OppFi's actual results may di�er from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "opportunity," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "possible," "continue," "positions," and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, without limitation, OppFi's expectations with respect to its full year 2026 guidance, the future performance of OppFi's platform and underwriting models, statements regarding OppFi's proposed acquisition of BNCC, including the anticipated timing, structure, bene�ts and strategic rationale of such transactions, OppFi's expectations with respect to the geographic expansion and product diversi�cation that may come from the acquisition, and expectations for OppFi's growth and future �nancial performance. These forward-looking statements are based on OppFi's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. These forward-looking statements involve signi�cant risks and uncertainties that could cause the actual results to di�er materially from the expected results. Most of these factors are outside OppFi's control and are di�cult to predict. Factors that may cause such di�erences 5
include, but are not limited to, the impact of general economic conditions, including economic slowdowns, in�ation, interest rate changes, recessions, the impact of tari�s, and tightening of credit markets on OppFi's business; the impact of challenging macroeconomic and marketplace conditions; the impact of stimulus or other government programs; risks related to the proposed acquisition of BNCC including the risk that the transactions may not be completed in a timely manner or at all and the risk of integration or execution challenges; whether OppFi will be successful in obtaining declaratory relief against the Commissioner of the Department of Financial Protection and Innovation for the State of California; whether OppFi will be subject to AB 539; whether OppFi's bank partners will continue to lend in California and whether OppFi's �nancing sources will continue to �nance the purchase of participation rights in loans originated by OppFi's bank partners in California; OppFi's ability to scale and grow the Bitty business; the impact that events involving �nancial institutions or the �nancial services industry generally, such as actual concerns or events involving liquidity, defaults, or non-performance, may have on OppFi's business; risks related to any material weakness in OppFi's internal controls over �nancial reporting; the ability of OppFi to grow and manage growth pro�tably and retain its key employees; risks related to new products; risks related to evaluating and potentially consummating acquisitions; concentration risk; risks related to OppFi's ability to comply with various covenants in its corporate and warehouse credit facilities; risks related to potential litigation; changes in applicable laws or regulations, including, but not limited to, impacts from the One Big Beautiful Bill Act; the possibility that OppFi may be adversely a�ected by other economic, business, and/or competitive factors; and other risks and uncertainties indicated from time to time in OppFi's �lings with the United States Securities and Exchange Commission, in particular, contained in the section captioned "Risk Factors." OppFi cautions that the foregoing list of factors is not exclusive, and readers should not place undue reliance upon any forward-looking statements, which speak only as of the date made. OppFi does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to re�ect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based. Non-GAAP Financial Measures This press release includes certain non-GAAP �nancial measures that are unaudited and do not conform to GAAP, such as Adjusted EBT, Adjusted Net Income, and Adjusted EPS. Adjusted EBT is de�ned as Net Income, adjusted for (1) income tax expense; (2) change in fair value of warrant liabilities; (3) other adjustments, net; and (4) other income. Adjusted Net Income is de�ned as Adjusted EBT as de�ned above, adjusted for taxes assuming a tax rate for each period presented that re�ects the U.S. federal statutory rate of 21% and a blended statutory rate for state income taxes, in order to allow for a comparison with other publicly traded companies. Adjusted EPS is de�ned as Adjusted Net Income as de�ned above, divided by weighted average diluted shares outstanding, which represents shares of both classes of common stock outstanding and includes the impact of dilutive securities, such as restricted stock units, performance stock units, and stock options. These non-GAAP �nancial measures have not been prepared in accordance with accounting principles generally accepted in the United States and may be di�erent from non-GAAP �nancial measures used by other companies. OppFi believes that the use of these non- 6
GAAP �nancial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends. These non-GAAP measures with comparable names should not be considered in isolation from, or as an alternative to, �nancial measures determined in accordance with GAAP. See "Reconciliation of Non-GAAP Financial Measures" below for reconciliations for OppFi's non-GAAP �nancial measures to the most directly comparable GAAP �nancial measures. First Quarter Results of Operations Consolidated Statements of Operations The following table present consolidated results of operations for the three months ended March 31, 2026 and 2025 (in thousands, except share and per share data). Certain columns and rows may not sum due to the use of rounded numbers for disclosure purposes. Percentages presented are calculated from the underlying whole-dollar amounts. Three Months Ended March 31, Change (Unaudited) 2026 2025 $ % Revenue: Interest and loan related income $ 150,526 $ 139,118 $ 11,408 8.2 % Other revenue 1,355 1,150 205 17.8 151,881 140,268 11,613 8.3 Change in fair value of finance receivables (64,583) (49,458) (15,125) 30.6 Net revenue 87,298 90,810 (3,512) (3.9) Expenses: Salaries and employee benefits 14,254 13,778 476 3.5 Direct marketing costs 10,385 10,288 97 0.9 Interest expense and amortized debt issuance costs 8,510 10,247 (1,737) (17.0) Professional fees 7,264 4,199 3,065 73.0 Technology costs 3,329 2,961 368 12.4 Payment processing fees 1,658 1,630 28 1.7 Occupancy 871 1,039 (168) (16.2) Depreciation and amortization 591 1,760 (1,169) (66.4) General, administrative and other 5,074 2,416 2,658 110.0 Total expenses 51,936 48,318 3,618 7.5 Income from operations 35,362 42,492 (7,130) (16.8) Other income (expense): Change in fair value of warrant liabilities 21,295 (21,607) 42,902 198.6 Income from equity method investment 1,120 1,076 44 4.1 Other income 232 80 152 191.1 Income before income taxes 58,009 22,041 35,968 163.2 Income tax expense 3,971 1,651 2,320 140.5 Net income 54,038 20,390 33,648 165.0 Less: net income attributable to noncontrolling interest 25,637 31,762 (6,125) (19.3) Net income (loss) attributable to OppFi Inc. $ 28,401 $ (11,372) $ 39,773 349.7 % Earnings (loss) per common share attributable to OppFi Inc.: Earnings (loss) per common share: Basic $ 1.06 $ (0.48) Diluted $ 0.56 $ (0.48) Weighted average common shares outstanding: Basic 26,778,432 23,691,769 Diluted 86,195,269 23,691,769 Condensed Consolidated Balance Sheets 7
The following table presents consolidated balance sheets as of March 31, 2026 and December 31, 2025 (in thousands). Certain columns and rows may not sum due to the use of rounded numbers for disclosure purposes. Percentages presented are calculated from the underlying whole-dollar amounts. (Unaudited) March 31, December 31, Change 2026 2025 $ % Assets Cash and restricted cash $ 99,920 $ 93,263 $ 6,657 7.1 % Finance receivables at fair value 502,558 546,236 (43,678) (8.0) Equity method investment 19,145 19,076 69 0.4 Other assets 98,364 95,515 2,849 3.0 Total assets $ 719,987 $ 754,090 $ (34,103) (4.5) % Liabilities and stockholders' equity Accounts payable and accrued expenses $ 41,610 $ 46,171 $ (4,561) (9.9) % Other liabilities 45,975 51,235 (5,260) (10.3) Total debt 284,260 321,353 (37,093) (11.5) Warrant liabilities 5,160 26,455 (21,295) (80.5) Total liabilities 377,005 445,214 (68,209) (15.3) Total stockholders' equity 342,982 308,876 34,106 11.0 Total liabilities and stockholders' equity $ 719,987 $ 754,090 $ (34,103) (4.5) % Condensed Consolidated Statement of Cash Flows The following table presents the consolidated statement of cash �ows for the three months ended March 31, 2026 and 2025 (in thousands). Certain columns and rows may not sum due to the use of rounded numbers for disclosure purposes. Percentages presented are calculated from the underlying whole-dollar amounts. Three Months Ended March 31, Change (Unaudited) 2026 2025 $ % Net cash provided by operating activities $ 90,779 $ 83,740 $ 7,039 8.4 % Net cash used in investing activities (21,436) (34,241) 12,805 (37.4) Net cash used in financing activities (62,686) (47,019) (15,667) 33.3 Net increase in cash and restricted cash $ 6,657 $ 2,480 $ 4,177 168.4 % Financial Capacity and Capital Resources As of March 31, 2026, OppFi had $63.9 million in unrestricted cash, an increase of $14.4 million from December 31, 2025. As of March 31, 2026, OppFi had an additional $240.7 million of unused debt capacity under our �nancing facilities for future availability, representing a 46% overall undrawn capacity, an increase from $203.6 million as of December 31, 2025. The increase in undrawn debt was driven primarily by a decrease in the utilization of revolving lines of credit. Including total �nancing commitments of $525.0 million and cash and restricted cash on the balance sheet of $99.9 million, OppFi had approximately $624.9 million in funding capacity as of March 31, 2026. 8
Reconciliation of Non-GAAP Financial Measures The following tables present reconciliations of non-GAAP �nancial measures for the three months ended March 31, 2026 and 2025 (in thousands, except share and per share data). Certain columns and rows may not sum due to the use of rounded numbers for disclosure purposes. Percentages presented are calculated from the underlying whole- dollar amounts. Adjusted EBT and Adjusted Net Income Comparison of the three months ended March 31, 2026 and 2025 Three Months Ended March 31, Change (Unaudited) 2026 2025 $ % Net income $ 54,038 $ 20,390 $ 33,648 165.0 % Income tax expense 3,971 1,651 2,320 140.5 Other income (232) (80) (152) 191.1 Change in fair value of warrant liabilities (21,295) 21,607 (42,902) (198.6) Other adjustments, net(a) 3,035 609 2,426 398.4 Adjusted EBT 39,517 44,177 (4,660) (10.5) Less: pro forma taxes(b) 9,472 10,360 (888) (8.6) Adjusted net income $ 30,045 $ 33,817 $ (3,772) (11.2) % Adjusted earnings per share $ 0.35 $ 0.38 Weighted average diluted shares outstanding 86,195,269 87,991,698 (a) For the three months ended March 31, 2026, other adjustments, net of $3.0 million included $1.7 million in expenses related to stock compensation, $1.0 million in expenses related to corporate development, $0.2 million in expenses related to severance, and $0.1 million in expenses related to legal matters. For the three months ended March 31, 2025, other adjustments, net of $0.6 million included $1.3 million in expenses related to stock compensation, $0.3 million in expenses related to severance, $0.3 million in expenses related to legal matters, and $0.2 million in expenses related to an adjustment to the Company's outstanding lease obligations, partially offset by a $1.4 million addback related to the partial forgiveness of remaining expenses related to OppFi Card's exit activities. The sum of the individual components of other adjustments, net may not equal the total presented due to the use of rounded numbers for disclosure purposes. (b) Assumes a tax rate of 23.97% for the three months ended March 31, 2026 and 23.45% for the three months ended March 31, 2025, reflecting the U.S. federal statutory rate of 21% and a blended statutory rate for state income taxes. Adjusted Earnings Per Share Comparison of the three months ended March 31, 2026 and 2025 Three Months Ended March 31, (Unaudited) 2026 2025 Weighted average Class A common stock outstanding 26,778,432 23,691,769 Weighted average Class V voting stock outstanding 58,694,615 62,698,935 Dilutive impact of restricted stock units 556,584 1,341,739 Dilutive impact of performance stock units 12,994 62,377 9
Dilutive impact of stock options 152,644 196,878 Weighted average diluted shares outstanding 86,195,269 87,991,698 Three Months Ended March 31, (In thousands, except share and per share data) 2026 2025 (Unaudited) $ Per Share $ Per Share Weighted average diluted shares outstanding 86,195,269 87,991,698 Net income $ 54,038 $ 0.63 $ 20,390 $ 0.23 Income tax expense 3,971 0.05 1,651 0.02 Other income (232) — (80) — Change in fair value of warrant liabilities (21,295) (0.25) 21,607 0.25 Other adjustments, net(a) 3,035 0.04 609 0.01 Adjusted EBT 39,517 0.46 44,177 0.50 Less: pro forma taxes(b) 9,472 0.11 10,360 0.12 Adjusted net income $ 30,045 $ 0.35 $ 33,817 $ 0.38 (a) For the three months ended March 31, 2026, other adjustments, net of $3.0 million included $1.7 million in expenses related to stock compensation, $1.0 million in expenses related to corporate development, $0.2 million in expenses related to severance, and $0.1 million in expenses related to legal matters. For the three months ended March 31, 2025, other adjustments, net of $0.6 million included $1.3 million in expenses related to stock compensation, $0.3 million in expenses related to severance, $0.3 million in expenses related to legal matters, and $0.2 million in expenses related to an adjustment to the Company's outstanding lease obligations, partially offset by a $1.4 million addback related to the partial forgiveness of remaining expenses related to OppFi Card's exit activities. The sum of the individual components of other adjustments, net may not equal the total presented due to the use of rounded numbers for disclosure purposes. (b) Assumes a tax rate of 23.97% for the three months ended March 31, 2026 and 23.45% for the three months ended March 31, 2025, reflecting the U.S. federal statutory rate of 21% and a blended statutory rate for state income taxes. View original content to download multimedia:https://www.prnewswire.com/news-releases/opp�-reports-�rst- quarter-2026-results-record-quarterly-revenue-302764741.html SOURCE OppFi 10
Q1 2026 Earnings Presentation May 7, 2026
This presentation (the “Presentation”) of OppFi Inc. (“OppFi” or the “Company”) is for information purposes only. Certain information contained herein has been derived from sources prepared by third parties. While such information is believed to be reliable for the purposes used herein, the Company makes no representation or warranty with respect to the accuracy of such information. Trademarks and trade names referred to in this Presentation are the property of their respective owners. The information contained herein does not purport to be all-inclusive. This Presentation does not constitute investment, tax, or legal advice. No representation or warranty, express or implied, is or will be given by the Company or any of its respective affiliates, directors, officers, employees or advisers or any other person as to the accuracy or completeness of the information in this Presentation, and no responsibility or liability whatsoever is accepted for the accuracy or sufficiency thereof or for any errors, omissions or misstatements, negligent or otherwise, relating thereto. The information contained in this Presentation is preliminary in nature and is subject to change, and any such changes may be material. The Company disclaims any duty to update the information contained in this Presentation, which information is given only as of the date of this Presentation unless otherwise stated herein. Forward-Looking Statements This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. OppFi’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “opportunity,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “possible,” “continue,” “positions,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, without limitation, OppFi’s expectations with respect to its full year 2026 guidance, the future performance of OppFi’s platform and underwriting models, statements regarding OppFi’s proposed acquisition of BNCC, including the anticipated timing, structure, benefits and strategic rationale of such transactions, OppFi’s expectations with respect to the geographic expansion and product diversification that may come from the acquisition, and expectations for OppFi’s growth and future financial performance. These forward-looking statements are based on OppFi’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside OppFi’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to, the impact of general economic conditions, including economic slowdowns, inflation, interest rate changes, recessions, the impact of tariffs, and tightening of credit markets on OppFi’s business; the impact of challenging macroeconomic and marketplace conditions; the impact of stimulus or other government programs; risks related to the proposed acquisition of BNCC including the risk that the transactions may not be completed in a timely manner or at all and the risk of integration or execution challenges; whether OppFi will be successful in obtaining declaratory relief against the Commissioner of the Department of Financial Protection and Innovation for the State of California; whether OppFi will be subject to AB 539; whether OppFi’s bank partners will continue to lend in California and whether OppFi’s financing sources will continue to finance the purchase of participation rights in loans originated by OppFi’s bank partners in California; OppFi’s ability to scale and grow the Bitty business; the impact that events involving financial institutions or the financial services industry generally, such as actual concerns or events involving liquidity, defaults, or non-performance, may have on OppFi’s business; risks related to any material weakness in OppFi’s internal controls over financial reporting; the ability of OppFi to grow and manage growth profitably and retain its key employees; risks related to new products; risks related to evaluating and potentially consummating acquisitions; concentration risk; risks related to OppFi’s ability to comply with various covenants in its corporate and warehouse credit facilities; risks related to potential litigation; changes in applicable laws or regulations, including, but not limited to, impacts from the One Big Beautiful Bill Act; the possibility that OppFi may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties indicated from time to time in OppFi’s filings with the United States Securities and Exchange Commission, in particular, contained in the section captioned “Risk Factors.” OppFi cautions that the foregoing list of factors is not exclusive, and readers should not place undue reliance upon any forward-looking statements, which speak only as of the date made. OppFi does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based. Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures that are unaudited and do not conform to GAAP, such as Adjusted EBT, Adjusted Net Income, and Adjusted EPS. Adjusted EBT is defined as Net Income, adjusted for (1) income tax expense; (2) change in fair value of warrant liabilities; (3) other adjustments, net; and (4) other income. Adjusted Net Income is defined as Adjusted EBT as defined above, adjusted for taxes assuming a tax rate for each period presented that reflects the U.S. federal statutory rate of 21% and a blended statutory rate for state income taxes, in order to allow for a comparison with other publicly traded companies. Adjusted EPS is defined as Adjusted Net Income as defined above, divided by weighted average diluted shares outstanding, which represents shares of both classes of common stock outstanding and includes the impact of dilutive securities, such as restricted stock units, performance stock units, and stock options. These non-GAAP financial measures have not been prepared in accordance with accounting principles generally accepted in the United States and may be different from non-GAAP financial measures used by other companies. OppFi believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends. These non-GAAP measures with comparable names should not be considered in isolation from, or as an alternative to, financial measures determined in accordance with GAAP. See “Reconciliation of Non-GAAP Financial Measures” below for reconciliations for OppFi’s non-GAAP financial measures to the most directly comparable GAAP financial measures. A reconciliation of projected full year 2026 Adjusted Net Income and Adjusted EPS to the most directly comparable GAAP financial measures is not included in this press release because, without unreasonable efforts, the Company is unable to predict with reasonable certainty the amount or timing of non-GAAP adjustments that are used to calculate these measures. No Offer or Solicitation This Presentation does not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act. Website This Presentation contains reproductions and references to the Company’s website and mobile content. Website and mobile content are not incorporated into this Presentation. Any references to URLs for the websites are intended to be inactive textual references only. Disclaimer 2
Q1 2026 Earnings Highlights : Net Income of $54.0 million, an increase of 165% year over year, and Net Income margin of 35.6%, up from 14.5% Total Revenue of $151.9 million, an increase of 8.3% year over year Ending Receivables as of the quarter end of $444.9 million, up 9.4% year over year Adjusted Net Income of $30.0 million2, a decrease of 11.2% year over year, and Adjusted Net Income margin of 19.8%1, down from 24.1% Total Expenses as a percentage of Total Revenue decreased 20 basis points year over year to 34.2% Total Net Originations of $176.0 million, a 7.0% decrease year over year 1. Reported financial results for Q1 2026 and comparison periods do not reflect the simplification of OppFi’s Up-C corporate structure. The change to a traditional C Corp was made post-Q1 2026, and changes will be reflected in future periods. 2. Adjusted net income and margin thereof are non-GAAP financial measures. See the disclaimer on “Non-GAAP Financial Measures” on slide 2 for a detailed description of such non-GAAP financial measures and the appendix for a reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measures.3 1
4 A tech-enabled digital finance platform that partners with banks to offer financial products and services for everyday Americans. At-A-Glance 1. For Q1 2026 at the time of loan approval. 2. As of March 31, 2026. 3. 2015-2025. 4. Based on 19.0 million underbanked households and average household size of 2.51. Federal Deposit Insurance Corporation (FDIC), 2023 FDIC National Survey of Unbanked and Underbanked Households (November 2024); U.S. Census Bureau, “Average Number of People per Household, by Race and Hispanic Origin, Marital Status, Age, and Education of Householder: 2023”, Table AVG1, November 2023 Mission-driven Platform Significant Economic Scale Strong Fundamentals and Balance Sheet Providing best-in-class products and customer service with a 75 NPS Score1 Profitable Across Business Cycles Large Addressable Market Facilitated more than $8.9 billion in gross loan issuance covering over 4.8 million loans, since inception2 Operating efficiency drives strong free cash flow and a robust balance sheet which positions OppFi for growth 11 consecutive years of positive net income3 48 million Americans are underbanked and lack traditional credit options4
5 Outstanding Customer Satisfaction 75 Net Promoter Score (NPS) Results Selected Customer Testimonials “They are amazing!!! Great customer service! Tons of knowledge, and willing to help. Easy application process! Fast funding!! And Great Customer Service!!! I will recommend, and personally use again! Thank you for everything OppLoans!” March 2026, Trustpilot “I submitted 10 because your customer service and online services are so accurate. This company addresses your request with proficiency and delivery. I will continue to use OppLoans in the future.” January 2026, NPS “The application is straightforward and you get a response almost immediately. And depending on the time of day, you receive the funds the same day. Thank you for making things easy when people have financial emergencies!” March 2026, Trustpilot 4.7 12,000 reviews 4.4 5,542 reviews A+ Rating 1. Note: NPS is for Q1 2026 at the time of approval. Ratings reflect data as of April 16, 2026.
Financial Highlights
7 Q1 2026 Financial Highlights Adjusted Net Income1 ($M) Adjusted EPS1 Healthy Adjusted Net Income generation impacted by expected increase in defaults $54.0M Net Income $28.4M Net Income Attributable to OppFi Inc. $30.0M Adj. Net Income1 $1.06 Basic EPS $0.56 Diluted EPS $0.35 Adjusted EPS1 1. Adjusted Net Income and Adjusted EPS are non-GAAP financial measures. See the disclaimer on “Non-GAAP Financial Measures” on slide 2 for a detailed description of such non- GAAP financial measures and the appendix for a reconciliation of such non-GAAP financial measures to their most directly comparable GAAP financial measures. 2. Percentages presented are calculated from the underlying whole-dollar amounts. $9 $34 $30 Q1 2024 Q1 2025 Q1 2026 -11% $0.10 $0.38 $0.35 Q1 2024 Q1 2025 Q1 2026 -9%
Total Revenue1 ($M) Total revenue increased 8.3% YoY driven by higher receivables balances over the period 8 Net Charge-Off Rate2 Net charge-offs as a percentage of total revenue increased 790 bps YoY as a result of elevated charge-offs offsetting higher recoveries of previously charged off loans Operating Expense Margin Prudent expense management kept total expenses as a percentage of total revenue roughly flat, dropping 20 bps YoY Q1 2026 Performance: Improvement in Both Total Revenue and Operating Expense Margin 1. Total Revenue is calculated as the sum of Interest on Finance Receivables and Other Revenue. 2. Percentages presented are calculated from the underlying whole-dollar amounts. $127 $140 $152 Q1 2024 Q1 2025 Q1 2026 +8% 47.9% 34.6% 42.5% Q1 2024 Q1 2025 Q1 2026 +790bps 45.5% 34.4% 34.2% Q1 2024 Q1 2025 Q1 2026 -20bps
UNAUDITED QUARTER ENDED ($ in millions) 3/31/2025 3/31/2026 Total Net Originations1 $189 $176 Total Retained Net Originations1 $169 $151 Ending Receivables2 $407 $445 Net Charge-Off Rate as % of Total Revenue3 34.6% 42.5% Net Charge-Off Rate as % of Avg. Receivables, Annualized3 47.0% 55.5% Average Yield, Annualized4 136% 131% Automatic Approval Rate5 79% 79% Q1 2026 Key Performance Indicators • Total net originations decreased 7% year over year as a result of lower net originations from refinance customers, as the prior year period benefited from changes to our credit model that increased the maximum loan amount those customers could refinance, outweighing higher originations from new customers, while total retained net originations decreased 10% year over year, attributed to the decrease in total net originations, furthered by the growth in the percentage of loans retained by our bank partners • Ending receivables increased 9% year over year as a result of a higher balance to start the year, partially offset by lower retained net originations and higher gross charge-offs for the period • Net charge-off rate as percentage of total revenue increased to 42% from 35% year over year, and the annualized net charge off rate as a percentage of average receivables increased to 55% from 47% year over year, as a result of elevated charge-offs offsetting higher recoveries of previously charged off loans • Average yield decreased to 131% from 136% year over year, as elevated delinquency in the portfolio outweighed the increase in the average statutory rate during the period • Automatic approval rate was steady year over year at 79%, reflecting the continued application of algorithmic automation projects that streamline the origination process 1. Total net originations are defined as gross originations net of transferred balance on refinanced loans, while total retained net originations are defined as the portion of total net originations with respect to which the Company ultimately purchased a receivable from bank partners. 2. Ending receivables are defined as the unpaid principal balances of loans at the end of the reporting period. 3. Net charge-offs as a percentage of total revenue and net charge-offs as a percentage of average receivables represent total charge-offs from the period less recoveries as a percentage of total revenue and as a percentage of average receivables. Net charge-offs as a percentage of average receivables is presented as an annualized metric. Finance receivables are charged off at the earlier of the time when accounts reach 90 days past due on a recency basis, when OppFi receives notification of a customer bankruptcy or is otherwise deemed uncollectible. 4. Average yield is defined as total revenue from the period as a percent of average receivables and is presented as an annualized metric. 5. Automatic approval rate is calculated by taking the number of approved loans that are not decisioned by a loan processor or underwriter (auto- approval) divided by the total number of loans approved. 9
10 Free Cash Flow Generation & Capital Allocation Optionality 2026 Key Liquidity and Capital Allocation Highlights • $9.9M in share repurchases at an average price of $9.54 (Q1-26) • On April 15, OppFi terminated the GrayRock funding facility, which reduces each of the Total Funding Capacity and Undrawn Debt by $75M. • Board authorized a $40 million repurchase plan for Class A common stock (Q2-26) 1. 1. Free cash flow is a non-GAAP financial measure. See the disclaimer on "Non-GAAP Financial Measures" on slide 2 for a detailed description of such non-GAAP financial measures and the appendix for a reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measures. Free Cash Flow Generation ($M)1 $69M of Free Cash Flow generated in Q1 2026 Total Funding Capacity ($M) $284.3 $240.7 $99.9 3/31/2026 Restricted and Unrestricted Cash Undrawn Debt Drawn Debt $624.9 $49.5 $69.3 Q1 2025 Q1 2026
11 Full Year 2026 Earnings Guidance $650M $675M to Total Revenue Adjusted Net Income1 Adjusted EPS1,2 $153M $160M to $1.76 $1.84 to Up 9% - 13% YoY Up 9% - 14% YoY Up 11% - 16% YoY 1. Adjusted Net Income and Adjusted EPS are non-GAAP financial measures. See the disclaimer on “Non-GAAP Financial Measures” on slide 2 for a detailed description of such non-GAAP financial measures. A reconciliation of projected 2026 Adjusted Net Income and Adjusted EPS to the most directly comparable GAAP financial measure is not included in this presentation because, without unreasonable efforts, the Company is unable to predict with reasonable certainty the amount or timing of non-GAAP adjustments that are used to calculate these measures. 2. Adjusted EPS of $1.76 to $1.84 is based on weighted average diluted shares outstanding of approximately 87 million.
Appendix
13 Income Statement 13 1. Certain columns and rows may not sum due to the use of rounded numbers for disclosure purposes. Percentages presented are calculated from the underlying whole-dollar amounts. (in Thousands, except share and per share data) (Unaudited) 2026 2025 $ % Revenue: Interest on finance receivables 150,526$ 139,118$ 11,408$ 8.2% Other revenue 1,355 1,150 205 17.8% 151,881 140,268 11,613 8.3% Change in fair value of finance receivables (64,583) (49,458) (15,125) 30.6% Net revenue 87,298 90,810 (3,512) (3.9%) Expenses: Salaries and employee benefits 14,254 13,778 476 3.5% Direct marketing costs 10,385 10,288 97 0.9% Interest expense and amortized debt issuance costs 8,510 10,247 (1,737) (17.0%) Professional fees 7,264 4,199 3,065 73.0% Technology costs 3,329 2,961 368 12.4% Payment processing fees 1,658 1,630 28 1.7% Occupancy 871 1,039 (168) (16.2%) Depreciation and amortization 591 1,760 (1,169) (66.4%) General, administrative and other 5,074 2,416 2,658 110.0% Total expenses 51,936 48,318 3,618 7.5% Income from operations 35,362 42,492 (7,130) (16.8%) Other income (expense): Change in fair value of warrant liabilities 21,295 (21,607) 42,902 198.6% Income from equity method investment 1,120 1,076 44 4.1% Other income 232 80 152 191.1% Income before income taxes 58,009 22,041 35,968 163.2% Income tax expense 3,971 1,651 2,320 140.5% Net income 54,038 20,390 33,648 165.0% Less: net income attributable to noncontrolling interest 25,637 31,762 (6,125) (19.3%) Net income (loss) attributable to OppFi Inc. 28,401$ (11,372)$ 39,773$ 349.7% Earnings (loss) per common share attributable to OppFi Inc.: Earnings (loss) per common share: Basic 1.06$ (0.48)$ Diluted 0.56$ (0.48)$ Weighted average common shares outstanding: Basic 26,778,432 23,691,769 Diluted 86,195,269 23,691,769 Three Months Ended March 31, Variance
14 March 31, December 31, (in Thousands) 2026 2025 $ % Unaudited Assets Cash and restricted cash 99,920$ 93,263$ 6,657$ 7.1% Finance receivables at fair value 502,558 546,236 (43,678) (8.0%) Equity method investment 19,145 19,076 69 0.4% Other assets 98,364 95,515 2,849 3.0% Total assets 719,987$ 754,090$ (34,103)$ (4.5%) Liabilities and stockholders’ equity Accounts payable and accrued expenses 41,610$ 46,171$ (4,561)$ (9.9%) Total debt 284,260 321,353 (37,093) (11.5%) Warrant liabilities 5,160 26,455 (21,295) (80.5%) Other liabilities 45,975 51,235 (5,260) (10.3%) Total liabilities 377,005 445,214 (68,209) (15.3%) Total stockholders’ equity 342,982 308,876 34,106 11.0% Total liabilities and stockholders’ equity 719,987$ 754,090$ (34,103)$ (4.5%) Variance Condensed Balance Sheet 14 1. Certain columns and rows may not sum due to the use of rounded numbers for disclosure purposes. Percentages presented are calculated from the underlying whole-dollar amounts.
15 (in Thousands) (Unaudited) 2026 2025 $ % Net cash provided by operating activities 90,779$ 83,740$ 7,039$ 8.4% Net cash used in investing activities (21,436) (34,241) 12,805 (37.4%) Net cash used in financing activities (62,686) (47,019) (15,667) 33.3% Net increase in cash and restricted cash 6,657$ 2,480$ 4,177$ 168.4% Three Months Ended March 31, Variance Condensed Cash Flow Statement 15 1. Certain columns and rows may not sum due to the use of rounded numbers for disclosure purposes. Percentages presented are calculated from the underlying whole-dollar amounts.
16 (in Thousands, except share and per share data) (Unaudited) 2026 2025 $ % Net income 54,038$ 20,390$ 33,648$ 165.0% Income tax expense 3,971 1,651 2,320 140.5% Other income (232) (80) (152) 191.1% Change in fair value of warrant liabilities (21,295) 21,607 (42,902) (198.6%) Other adjustments, net 1 3,035 609 2,426 398.4% Adjusted EBT 2 39,517 44,177 (4,660) (10.5%) Less: pro forma taxes 3 9,472 10,360 (888) (8.6%) Adjusted net income 2 30,045$ 33,817$ (3,772)$ (11.2%) Adjusted earnings per share 2 0.35$ 0.38$ Weighted average diluted shares outstanding 86,195,269 87,991,698 Total revenue 151,881$ 140,268$ Net income margin 35.6% 14.5% Adjusted net income margin 2 19.8% 24.1% Three Months Ended March 31, Variance Adjusted Net Income Reconciliation 16 1. For the three months ended March 31, 2026, other adjustments, net of $3.0 million included $1.7 million in expenses related to stock compensation, $1.0 million in expenses related to corporate development, $0.2 million in expenses related to severance, and $0.1 million in expenses related to legal matters. For the three months ended March 31, 2025, other adjustments, net of $0.6 million included $1.3 million in expenses related to stock compensation, $0.3 million in expenses related to severance, $0.3 million in expenses related to legal matters, and $0.2 million in expenses related to an adjustment to the Company’s outstanding lease obligations, partially offset by a $1.4 million addback related to the partial forgiveness of remaining expenses related to OppFi Card’s exit activities. The sum of the individual components of other adjustments, net may not equal the total presented due to the use of rounded numbers for disclosure purposes. 2. Adjusted EBT, Adjusted Net Income (and margin thereof), and Adjusted EPS are non-GAAP financial measures. See the disclaimer on “Non-GAAP Financial Measures” on slide 2 for a detailed description of such non-GAAP financial measures. 3. Assumes a tax rate of 23.97% for the three months ended March 31, 2026 and 23.45% for the three months ended March 31, 2025, reflecting the U.S. federal statutory rate of 21% and a blended statutory rate for state income taxes. 4. Certain columns and rows may not sum due to the use of rounded numbers for disclosure purposes. Percentages presented are calculated from the underlying whole-dollar amounts.
17 (in Thousands, except share and per share data) (Unaudited) $ Per Share $ Per Share Weighted average diluted shares outstanding 86,195,269 87,991,698 Net income 54,038$ 0.63$ 20,390$ 0.23$ Income tax expense 3,971 0.05 1,651 0.02 Other income (232) (0.00) (80) (0.00) Change in fair value of warrant liabilities (21,295) (0.25) 21,607 0.25 Other adjustments, net 1 3,035 0.04 609 0.01 Adjusted EBT 2 39,517 0.46 44,177 0.50 Less: pro forma taxes 3 9,472 0.11 10,360 0.12 Adjusted net income 2 30,045$ 0.35$ 33,817$ 0.38$ Three Months Ended March 31, 2026 Three Months Ended March 31, 2025 Adjusted Earnings per Share Reconciliation 17 (Unaudited) 2026 2025 Weighted average Class A common stock outstanding 26,778,432 23,691,769 Weighted average Class V voting stock outstanding 58,694,615 62,698,935 Dilutive impact of restricted stock units 556,584 1,341,739 Dilutive impact of performance stock units 12,994 62,377 Dilutive impact of stock options 152,644 196,878 Weighted average diluted shares outstanding 86,195,269 87,991,698 Three Months Ended March 31, 1. For the three months ended March 31, 2026, other adjustments, net of $3.0 million included $1.7 million in expenses related to stock compensation, $1.0 million in expenses related to corporate development, $0.2 million in expenses related to severance, and $0.1 million in expenses related to legal matters. For the three months ended March 31, 2025, other adjustments, net of $0.6 million included $1.3 million in expenses related to stock compensation, $0.3 million in expenses related to severance, $0.3 million in expenses related to legal matters, and $0.2 million in expenses related to an adjustment to the Company’s outstanding lease obligations, partially offset by a $1.4 million addback related to the partial forgiveness of remaining expenses related to OppFi Card’s exit activities. The sum of the individual components of other adjustments, net may not equal the total presented due to the use of rounded numbers for disclosure purposes. 2. Adjusted EBT, Adjusted Net Income, and Adjusted EPS are non-GAAP financial measures. See the disclaimer on “Non-GAAP Financial Measures” on slide 2 for a detailed description of such non-GAAP financial measures. 3. Assumes a tax rate of 23.97% for the three months ended March 31, 2026 and 23.45% for the three months ended March 31, 2025, reflecting the U.S. federal statutory rate of 21% and a blended statutory rate for state income taxes. 4. Certain columns and rows may not sum due to the use of rounded numbers for disclosure purposes. Percentages presented are calculated from the underlying whole-dollar amounts.
18 (in Thousands) (Unaudited) 2026 2025 $ % Net cash provided by operating activities 90,779$ 83,740$ 7,039$ 8.4% Less: Net cash used in investing activities (21,436) (34,241) 12,805 (37.4%) Free cash flow 1 69,343$ 49,499$ 19,844$ 40.1% Three Months Ended March 31, Variance Free Cash Flow Reconciliation 18 1. Free cash flow is a non-GAAP financial measure. See the disclaimer on "Non-GAAP Financial Measures" on slide 2 for a detailed description of such Non-GAAP financial measures. 2. Certain columns and rows may not sum due to the use of rounded numbers for disclosure purposes. Percentages presented are calculated from the underlying whole-dollar amounts.
Thank You
FAQ
How did OppFi (OPFI) perform financially in Q1 2026?
OppFi delivered record first-quarter revenue of $151.9 million, up 8.3% year over year. Net income rose to $54.0 million, with $28.4 million attributable to OppFi Inc. Adjusted net income was $30.0 million, down 11.2% as higher credit losses weighed on non-GAAP results.
What are the key profitability metrics for OppFi (OPFI) in Q1 2026?
Net income reached $54.0 million and net income margin was 35.6%. Adjusted net income was $30.0 million, giving an Adjusted net income margin of 19.8%. Diluted EPS was $0.56, while Adjusted EPS, which includes dilutive securities, came in at $0.35 for the quarter.
How did credit performance trend for OppFi (OPFI) in Q1 2026?
Credit costs increased meaningfully. Net charge-offs were 42.5% of total revenue versus 34.6% a year earlier. Net charge-offs as a percentage of average receivables, annualized, rose to 55.5% from 47.0%, reflecting elevated charge-offs despite higher recoveries on previously charged-off loans.
What is OppFi’s (OPFI) liquidity and funding capacity as of March 31, 2026?
As of March 31, 2026, OppFi held $99.9 million of cash and restricted cash, including $63.9 million of unrestricted cash. It also had $240.7 million of unused debt capacity under financing facilities, supporting approximately $624.9 million in total funding capacity when combined with cash balances.
What full-year 2026 guidance did OppFi (OPFI) provide?
OppFi projected full-year 2026 total revenue between $650 million and $675 million. It guided to Adjusted net income of $153 million to $160 million and Adjusted EPS of $1.76 to $1.84, based on approximately 87 million weighted average diluted shares outstanding during the year.