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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.
OppFi (NYSE: OPFI), a tech-enabled finance platform, will announce its Q2 2024 financial results on August 7, 2024, before the market opens.
Management will host a conference call at 9:00 a.m. ET on the same day to discuss the results and business outlook. Investors can access the webcast via the Company's Investor Relations website. For those wishing to join via phone, the domestic dial-in number is (800) 225-9448 and the international dial-in number is (203) 518-9708. The Conference ID is OPPFI. An archived version of the webcast will also be available on the website.
Stonegate Capital Partners updates their coverage on OppFI, Inc. (NYSE: OPFI), highlighting a raised guidance, year-over-year revenue margin expansion of 213bps, and a special dividend paid in the quarter due to a strong Balance Sheet.
OppFi Inc. (NYSE: OPFI) reported financial results for Q1 2024, surpassing guidance. Total revenue increased 5.8% YoY to $127.3 million, with net income up 157.8% YoY to $10.1 million. Adjusted net income rose 127.8% to $8.8 million. EPS showed growth, with Basic EPS at $0.29 and Diluted EPS at $0.10. Unrestricted cash stood at $47.2 million. Full-year adjusted EPS guidance was raised to $0.58-$0.62.
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