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Jun 30, 2020
Oportun Q2 2020 Earnings Report
Reported financial results with month-over-month originations growth in May, June and July.
Key Takeaways
Oportun Financial Corporation reported second quarter 2020 financial results. The company's CEO noted improving credit trends, steadily increasing originations, and a continued strong balance sheet due to actions taken during the quarter. The company remains committed to financial inclusion and affordable financial services, innovating with technology to serve customers during the economic uncertainty.
Total revenue was $142.7 million, comparable with the prior-year quarter.
Net loss was $(34.2) million, as compared to $13.8 million in the prior-year quarter.
GAAP net loss per share, basic and diluted, were both $(1.26).
Adjusted EBITDA was $4.8 million, down from $19.9 million in the prior-year quarter.
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 for 2020 or 2021.