OppFi Q3 2022 Earnings Report
Key Takeaways
OppFi reported a 35% increase in revenue to $124.2 million, but experienced a net loss of $0.7 million. The company saw an 11% increase in net originations and a 39% increase in ending receivables. Adjusted net income was $0.8 million, and adjusted EPS was $0.01.
Revenue increased 35% year over year to $124.2 million.
Net originations increased 11% year over year to $182.7 million.
Ending receivables increased 39% year over year to $407.7 million.
Net loss of $(0.7) million and Adjusted Net Income of $0.8 million were reported.
OppFi
OppFi
Forward Guidance
OppFi reaffirms its full-year 2022 financial guidance: Total revenue growth of 20% to 25% year over year; Operating expenses as a percentage of total revenue of 43% to 47%, excluding interest expense, add backs, and one-time items; and Break-even or a modest net loss, on an adjusted basis.