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Dec 31, 2022
Oportun Q4 2022 Earnings Report
Profitable quarter delivered on an adjusted basis, total revenues of $262 million achieved, and platform launched to build long-term relationships with members.
Key Takeaways
Oportun Financial Corporation reported a resilient fourth quarter amidst macroeconomic challenges, delivering a profitable quarter on an adjusted basis. Total revenue reached $262 million, driven by sequential growth in the average daily principal balance. The company focused on returning borrowers and driving down first payment defaults to pre-pandemic levels.
Members grew to 1.9 million, up from 1.5 million in the prior-year quarter.
Products grew to 2.0 million, up from 1.5 million in the prior-year quarter.
Aggregate Originations were $610 million, down 29% over the prior-year period.
Annualized Net Charge-Off Rate of 12.8% as compared to 6.8% for the prior-year period.
Oportun
Oportun
Forward Guidance
Oportun provided guidance for Q1 2023 and full year 2023.