OppFi Q3 2024 Earnings Report
Key Takeaways
OppFi reported record third-quarter results, with net income increasing by 106.4% year over year to $32.1 million and total revenue increasing by 2.6% year over year to $136.6 million. The company also raised its full-year earnings guidance for the third time this year.
Net income increased 106.4% year over year to $32.1 million, a Company record for any quarter.
Adjusted net income increased 116.2% year over year to $28.8 million, a Company record for any quarter.
Total revenue increased 2.6% year over year to $136.6 million, a Company record for any quarter.
Adjusted EPS guidance for full-year 2024 increased to $0.85 to $0.87 from $0.73 to $0.75.
OppFi
OppFi
Forward Guidance
OppFi affirmed total revenue guidance of $510 million to $530 million and raised adjusted net income guidance to $74 million to $76 million, and increased adjusted earnings per share guidance to $0.85 to $0.87.
Positive Outlook
- Affirm total revenue of $510 million to $530 million
- Raise adjusted net income to $74 million to $76 million, from previous range of $63 million to $65 million
- Increase adjusted earnings per share to $0.85 to $0.87 from previous range of $0.73 to $0.75
- Based on approximate weighted average diluted share count of 86.5 million