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Mar 31, 2020
Oportun Q1 2020 Earnings Report
Oportun reported a net loss for Q1 2020, with revenue up 18 percent and managed principal balance at the end of the period up 20 percent.
Key Takeaways
Oportun Financial Corporation reported financial results for the first quarter ended March 31, 2020. Total revenue increased by 18% year-over-year, but the company experienced a net loss compared to net income in the prior-year period, primarily due to the economic changes associated with the COVID-19 pandemic.
Aggregate Originations were $432.8M, up 4% Y/Y
Active Customers of 777,194, up 11% Y/Y
Managed Principal Balance at End of Period was $2.2B, up 20% Y/Y
Total revenue of $163.4M, up 18% Y/Y
Oportun
Oportun
Forward Guidance
Given the ongoing uncertainty surrounding the duration and severity of COVID-19, Oportun is not providing forward-looking guidance at this time.