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Mar 31, 2022
Oportun Q1 2022 Earnings Report
Reported strong financial results driven by growth in members and product adoption.
Key Takeaways
Oportun reported a strong first quarter in 2022, with significant growth in originations, revenue, and EPS. The company's member base and product adoption also saw substantial increases. Oportun is raising its full-year 2022 guidance for revenue and adjusted EPS.
Aggregate originations increased by 139% year-over-year.
Total revenue grew by 59% year-over-year.
Diluted EPS reached a record of $1.37, and Adjusted EPS was $1.58.
Full-year 2022 revenue guidance raised to $910 million to $930 million, and Adjusted EPS guidance raised to $2.45 to $2.56.
Oportun
Oportun
Forward Guidance
Oportun is providing guidance for Q2 2022 and full year 2022.
Positive Outlook
- Aggregate Originations for Q2 2022 are expected to be $825 - $850 million.
- Aggregate Originations for full year 2022 are expected to be $3.45 - $3.50 billion.
- Total Revenue for Q2 2022 is expected to be $214 - $218 million.
- Total Revenue for full year 2022 is expected to be $910 - $930 million.
- Adjusted Net Income for full year 2022 is expected to be $83 - $87 million.
Challenges Ahead
- Adjusted Net Income for Q2 2022 is expected to be $2 - $4 million.
- Adjusted EPS for Q2 2022 is expected to be $0.06 - $0.12.
- Adjusted EPS for full year 2022 is expected to be $2.45 - $2.56.
- Annualized Net Charge-Off Rate for Q2 2022 is expected to be 8.6% +/- 10 bps.
- Annualized Net Charge-Off Rate for full year 2022 is expected to be 8.8% +/- 15 bps.