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Sep 30, 2021
Oportun Q3 2021 Earnings Report
Oportun's growth accelerated in aggregate originations, revenue, and earnings while maintaining a strong credit profile.
Key Takeaways
Oportun Financial Corporation reported strong financial results for the third quarter ended September 30, 2021. The company saw significant growth in aggregate originations, revenue, and earnings. Oportun's AI-driven digital platform now reaches 45 states, contributing to robust production across all channels and partnerships.
Aggregate originations increased by 119% year-over-year.
Managed principal balance at the end of the period increased by 17% year-over-year, reaching $2.15 billion.
Active customers increased by 24% year-over-year, totaling 772,361.
GAAP earnings per share was $0.75 and adjusted earnings per share was $0.78.
Forward Guidance
Oportun is providing the following guidance for 4Q 2021 and full year 2021
Positive Outlook
- Aggregate Originations: $800 M (4Q 2021), $2.23 B (Full Year 2021)
- Total Revenue: $183 - $185 M (4Q 2021), $616 - $618 M (Full Year 2021)
- Adjusted EBITDA: $8 - $10 M (4Q 2021), $31 - $33 M (Full Year 2021)
- Adjusted Net Income: $20 - $22 M (4Q 2021), $73 - $75 M (Full Year 2021)
- Adjusted EPS: $0.66 - $0.73 (4Q 2021), $2.42 - $2.49 (Full Year 2021)
Challenges Ahead
- Annualized Net Charge-Off Rate: 7.3% +/- 10 bps (4Q 2021), 7.1% +/- 10 bps (Full Year 2021)
Historical Earnings Impact
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Avg. Return Before/After Earnings
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