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Sep 30, 2023
OppFi Q3 2023 Earnings Report
OppFi's financial performance improved in Q3 2023, with increased revenue, net income, and adjusted EPS, leading to raised full-year earnings outlook.
Key Takeaways
OppFi reported a 7% year-over-year increase in total revenue, reaching $133.2 million for Q3 2023. Net income stood at $15.5 million, with an adjusted net income of $13.8 million. The company raised its full-year adjusted net income and adjusted earnings per share guidance for the third time this year.
Total revenue increased by 7% year-over-year to $133.2 million.
Net income reached $15.5 million.
Adjusted net income was reported at $13.8 million.
Adjusted EPS was $0.16 for the quarter.
Forward Guidance
OppFi affirmed total revenue guidance and raised adjusted net income and adjusted earnings per share guidance for the full year 2023.
Positive Outlook
- Affirm total revenue $500 million to $520 million, resulting in approximately 10% to 15% growth year over year
- Raise adjusted net income $40 million to $42 million, from previous range of $29 million to $35 million
- Increase adjusted earnings per share $0.47 to $0.49 based on approximate weighted average diluted share count of 85.5 million
- Previous range of adjusted net income was $29 million to $35 million
- Previous range of adjusted EPS was $0.34 to $0.41
Challenges Ahead
- The guidance is based on current expectations and assumptions about future events
- The guidance involves significant risks and uncertainties that could cause the actual results to differ materially from the expected results
- Economic slowdowns could impact OppFi's business
Historical Earnings Impact
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Avg. Return Before/After Earnings
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