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Dec 31, 2024
OppFi Q4 2024 Earnings Report
OppFi reported strong financial results for Q4 2024, with significant revenue growth and a sharp increase in net income.
Key Takeaways
OppFi delivered robust Q4 2024 results, surpassing expectations with a 2.1% increase in total revenue to $135.7 million. Net income soared by 619.7% year-over-year to $14.0 million, while adjusted net income grew 140.3% to $20.3 million. The company maintained solid profitability, supported by improved efficiency in credit performance and cost management. OppFi has raised its FY 2025 guidance, reflecting confidence in continued growth.
Total revenue increased by 2.1% YoY to $135.7 million.
Net income rose 619.7% YoY to $14.0 million.
Adjusted net income grew 140.3% to $20.3 million.
Auto-approval rate improved to 79% in Q4 2024 from 73% in Q4 2023.
OppFi
OppFi
Forward Guidance
OppFi expects continued revenue and net income growth in FY 2025, with total revenue projected to rise between 7% and 13% year-over-year. The company also expects adjusted net income to increase by 15% to 17%, supported by strong loan origination growth and cost efficiencies.
Positive Outlook
- Projected revenue growth between 7% and 13% in FY 2025.
- Adjusted net income forecasted to rise by 15% to 17%.
- Auto-approval rate continues to improve, enhancing efficiency.
- Net charge-offs as a percentage of revenue have declined, improving credit performance.
- Strong balance sheet with increased liquidity and available funding.
Challenges Ahead
- Macroeconomic uncertainties could impact loan origination growth.
- Regulatory risks remain a concern in the lending industry.
- Potential increases in funding costs due to interest rate volatility.
- Competitive pressures in the fintech lending space may require increased marketing expenses.
- Continued investment in technology and compliance may limit margin expansion.