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OppFi Inc. (NYSE: OPFI) is a technology-driven, mission-focused specialty finance platform dedicated to expanding credit access for everyday Americans. Leveraging advanced technology, OppFi connects with community banks, enabling them to offer installment loans and SalaryTap contracts designed to meet the needs of underserved consumers. By recognizing revenue through finance charges on these contracts via the interest method, OppFi has carved out a significant niche in the fintech industry.
OppFi's core business revolves around providing accessible financial solutions that promote financial inclusion. The company’s innovative platform allows for efficient and responsible lending, ensuring customers have access to credit while managing risk effectively. Recent achievements include the initiation of coverage by Stonegate Capital Partners, a testament to OppFi's growing presence and influence in the market.
Currently, OppFi is working on several projects aimed at enhancing their product offerings and expanding their market reach. These initiatives include partnerships with various financial institutions to broaden their service capabilities and improve customer experience. Financially, OppFi maintains a stable condition, with consistent revenue growth driven by their unique business model and strategic collaborations.
OppFi's commitment to innovation and customer-centric services positions it as a significant player in the fintech space, continually striving to bridge the credit gap for those often overlooked by traditional financial services. For investors and stakeholders, OppFi presents a promising opportunity, backed by a robust business model and a clear mission to make credit more accessible to all.
LawFi, a Legal Fintech Lender, has announced that Pamela Johnson, the current CFO of OppFi Inc. (NYSE: OPFI), has joined as an Advisor. Johnson will guide LawFi's financial team and activities, leveraging her extensive experience in consumer lending, financial management, and public company operations.
Johnson, who holds a Master of Accountancy and Bachelor of Business from Western Illinois University, will help LawFi develop banking relationships and secure funding for their innovative 'Legal Fee Loan' product. This new asset class aims to increase financial inclusion in the legal system by providing point-of-need legal fee loans and Retain-Now-Pay-Later™ options.
LawFi's mission focuses on addressing the Access-to-Justice Gap by creating financing options for legal fees and related costs, making legal representation more accessible regardless of financial situation.
OppFi (NYSE: OPFI) announced that CFO Pam Johnson and COO Manny Chagas will present at NobleCon20, Noble Capital Markets' Twentieth Annual Emerging Growth Equity Conference. The presentation is scheduled for December 4 at 11:00 a.m. ET at Florida Atlantic University in Boca Raton, FL.
A video webcast will be available the following day on OppFi's investor website and will remain archived for 90 days. OppFi is a tech-enabled specialty finance platform that partners with community banks to provide credit access to everyday Americans. The company's OppLoans platform maintains a 4.5/5.0 star rating on Trustpilot with over 4,400 reviews.
OppFi (NYSE: OPFI) reported strong financial results for Q3 2024, with total revenue reaching $136.6M, representing a 2.6% year-over-year increase. The company achieved record-breaking performance with net income of $32.1M, marking a 106.4% year-over-year growth. Adjusted net income rose 116.2% to $28.8M. The company's net revenue margin expanded by 992 basis points to 66.7% compared to Q3 2023. These results significantly exceeded both Stonegate Capital Partners and consensus estimates for revenue, adjusted net income, and adjusted EPS.
OppFi (NYSE: OPFI) reported record-breaking third quarter results with net income increasing 106.4% year over year to $32.1 million. Total revenue rose 2.6% to $136.6 million, while adjusted net income grew 116.2% to $28.8 million. The company achieved basic and diluted EPS of $0.21, with adjusted EPS increasing 112.4% to $0.33. Net charge-off rate decreased 810 basis points to 34.3%, and average yield increased to 133.9%. Based on strong performance, OppFi raised its full-year 2024 adjusted EPS guidance to $0.85-$0.87 from $0.73-$0.75.
OppFi (NYSE: OPFI), a tech-enabled specialty finance platform, has scheduled its third quarter 2024 earnings release for Thursday, November 7, 2024, before market opening. The company will host a conference call at 9:00 a.m. ET on the same day to discuss financial results and business outlook. Investors can access the webcast through OppFi's Investor Relations website at investors.oppfi.com or join via phone using the provided dial-in numbers.
OppFi Inc (NYSE:OPFI), a tech-enabled specialty finance platform, is set to participate in the August 20th Virtual Investor Summit Microcap Event. The company will present at 2:00 pm ET and be available for 1-on-1 meetings throughout the day. OppFi recently reported record Q2-24 results and has raised its full-year 2024 earnings guidance by over 20%. Additionally, the company has diversified its business by acquiring a minority stake in Bitty Advance to expand into small business financing. The event, focusing on 50 micro-cap companies with catalysts or strong market performance, offers live Q&A sessions and is complimentary for qualified investors.
OppFi Inc. (NYSE: OPFI), a tech-enabled specialty finance platform, has announced its participation in the Sidoti Micro-Cap Virtual Conference on August 14-15, 2024. The company's CFO, Pam Johnson, and Head of Investor Relations, Shaun Smolarz, will present on August 15 at 1:45 p.m. ET and engage in one-on-one meetings with investors.
OppFi aims to broaden credit access for everyday Americans through community banks. The company maintains a 4.5/5.0 star rating on Trustpilot with over 4,400 reviews. Additionally, OppFi holds a 35% equity interest in Bitty Advance, a company offering revenue-based financing to small businesses.
Stonegate Capital Partners has updated its coverage on OppFi, Inc. (NYSE: OPFI) for Q2 2024. The report highlights several key developments for the company:
1. OppFi has raised its guidance, indicating improved financial outlook.
2. The company achieved a significant year-over-year revenue margin expansion of 743 basis points, demonstrating substantial improvement in profitability.
3. OppFi has completed the acquisition of a 35% equity interest in BittyAdvance, potentially expanding its market presence and service offerings.
These updates suggest positive momentum for OppFi's financial performance and strategic growth initiatives.
OppFi Inc. (NYSE: OPFI) reported record second quarter profitability and revenue for 2024, prompting a significant increase in full-year earnings outlook. Key highlights include:
- Net income up 53.1% YoY to $27.7 million
- Adjusted net income up 56.2% YoY to $24.8 million
- Total revenue increased 3.1% YoY to $126.3 million
- Basic and diluted EPS of $0.16
- Adjusted EPS up 53.5% YoY to $0.29
The company raised its full-year 2024 adjusted EPS guidance to $0.73-$0.75 from $0.58-$0.62. OppFi also issued its first special dividend, repurchased $2.5 million of Class A common stock, and paid down $10 million of senior debt, demonstrating strong financial performance and balance sheet strength.
OppFi Inc. (NYSE: OPFI) has acquired a 35% equity interest in Bitty Advance, a profitable and growing platform that provides credit access to underserved small businesses. The transaction implies a 6.0x purchase multiple on adjusted net income for the trailing twelve months ending March 31, 2024, and is expected to be immediately accretive to OppFi earnings. Bitty, led by industry leader Craig Hecker, has facilitated funding to over 29,000 small businesses since 2020, with products ranging from $2,000 to $250,000.
The acquisition aligns with OppFi's mission to facilitate credit access to everyday Americans and provides a foundation for OppFi's new vertical in small business financing. OppFi anticipates that Bitty would contribute approximately $0.03 in adjusted earnings per share to its consolidated results on an annualized basis.
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