Loading...
•
Dec 31, 2022
OppFi Q4 2022 Earnings Report
OppFi's Q4 2022 financial results were reported, revealing a mix of challenges and achievements.
Key Takeaways
OppFi's Q4 2022 results showed a revenue increase of 25.1% compared to Q4 2021, but the company experienced a net loss and a decrease in adjusted net income. The company had its eighth consecutive year of profitability.
Total revenue increased by 25.1% compared to the same period last year.
Net income declined significantly, resulting in a net loss for the quarter.
Adjusted net income also decreased compared to the previous year.
Key performance metrics such as net charge-offs and auto-approval rates were reported.
OppFi
OppFi
Forward Guidance
OppFi provided full-year 2023 guidance, including total revenue of $500 million to $520 million, and adjusted net income of $22 million to $28 million. They expect to be approximately break-even on an adjusted basis for the first quarter of 2023.
Positive Outlook
- Total revenue of $500 million to $520 million, resulting in approximately 10% to 15% growth year over year
- Adjusted net income of $22 million to $28 million
- Adjusted earnings per share of $0.26 to $0.33 based on an approximate average weighted diluted share count of 84.3 million
Challenges Ahead
- Approximately break-even on an adjusted basis for Q1 2023