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Oportun Financial Corp (OPRT) provides responsible credit solutions and banking services to underserved communities through innovative fintech solutions. This news hub offers investors and stakeholders timely updates on company developments, financial performance, and strategic initiatives.
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Oportun (OPRT), a mission-driven financial services company, has scheduled its first quarter 2025 financial results release for Thursday, May 8, 2025, after market close. The company will host a conference call and earnings webcast on the same day at 5:00 pm ET / 2:00 pm PT.
Investors can access the live webcast through Oportun's investor relations website at investor.oportun.com, with a replay available for one year. For those joining via phone, the dial-in numbers are 1-888-396-8049 (toll-free) or 1-416-764-8646 (international). Participants are advised to join 10 minutes before the scheduled start time.
Additionally, the company has set Tuesday, May 27, 2025, as the record date for stockholder voting eligibility at its 2025 annual meeting.
Oportun (Nasdaq: OPRT) has successfully closed a new $187.5 million warehouse facility, increasing its total committed warehouse capacity to $954 million. The facility features a two-year revolving period and will be collateralized by Oportun's unsecured and secured personal loan originations.
The new facility is structured with Natixis Corporate & Investment Banking as the senior lender and Neuberger Berman, representing client funds, as the mezzanine lender. According to Paul Appleton, Interim CFO, this financing will support Oportun's responsible growth strategy. The company maintains diverse capital sources, including committed warehouse facilities, asset-backed securitizations, corporate-level debt financing, and whole loan sales.
Oportun (OPRT) has acknowledged receiving a notice from Findell Capital Management nominating two directors for election to the company's Board at the 2025 Annual Meeting of Shareholders. The Board highlighted its achievements over the past three years, including improved credit performance and high-quality originations.
The company emphasized its recent Board refreshment process, which included input from Findell and resulted in the appointment of four new independent directors in the last 14 months. The current Board members possess expertise in critical areas such as credit and risk management, finance, mobile technologies, software, marketing, and regulatory matters.
The Nominating and Governance Committee will evaluate Findell's nominees and make recommendations to shareholders. The company has retained Wilson Sonsini Goodrich & Rosati as legal advisor and FGS Global as strategic communications advisor.
Findell Capital Management, owning 9.2% of Oportun Financial (NASDAQ: OPRT), has nominated Sandra Bell and Warren Wilcox as independent director candidates to address governance issues at the company. Findell criticizes the current Board's performance, highlighting OPRT's stock price decline from $27.95 in November 2021 to below $3 in early 2023, before recovering to approximately $6.00 following Findell's involvement.
The activist investor disputes the Board's claims of success, noting that while operating expenses were reduced to $400 million, origination volume declined from $3 billion in 2022 to $1.8 billion in 2024, with income-producing assets falling by 10%. Findell argues that Oportun's $3 billion loan book, generating $1 billion in interest revenue, should produce over $250 million in pre-tax income if operated efficiently.
Oportun (OPRT) has responded to a public letter from Findell Capital Management, highlighting significant improvements in company performance. Key achievements include:
- Return to GAAP profitability in Q4
- 40% reduction in operating expenses, eliminating $240M in annualized costs
- Reduction of operating expenditures to $410M in 2024
- Nearly 200 basis points increase in portfolio yield
- Up to 500 basis points lower losses on front book vs. back-book
- Successful refinancing of corporate financing facility
- Divestment of non-core segments, including credit card portfolio
The company reported a 121% total shareholder return over the past 12 months. For 2025, Oportun projects a year-over-year net income increase of $102M-$112M and expects to achieve Adjusted ROE in the teens, up from 8% in 2024. The company has also appointed four independent directors since 2024.
Findell Capital Management, owning 9.1% of Oportun Financial (NASDAQ: OPRT), has issued an open letter demanding leadership changes and announcing plans to nominate two director candidates to replace CEO Raul Vasquez and Lead Director R. Neil Williams.
The activist investor criticizes the current board's lack of lending experience and poor performance, noting a 64% decline in share price under Williams' tenure. Findell highlights that OPRT trades at 0.75x tangible book value compared to peers at 1.5-2x, suggesting significant undervaluation.
The letter outlines specific operational improvements including:
- Reducing operating expenses by 20% to align with industry benchmarks
- Removing the voluntary 36% APR cap to increase finance charge revenue
- Using cashflows to reduce leverage
Oportun (Nasdaq: OPRT), a mission-driven financial services company, has announced its participation in the upcoming Sidoti March Virtual Investor Conference. The company's presentation is scheduled for March 20th at 4:00 pm ET.
Key executives participating in the event include:
- Raul Vazquez - Chief Executive Officer
- Jonathan Coblentz - Chief Financial Officer & Chief Administrative Officer
The presentation will be accessible live through a dedicated link and the company's Investor Relations website at investor.oportun.com. A replay will remain available for 90 days following the conference.
Oportun (NASDAQ: OPRT) reported strong Q4 2024 results, returning to GAAP profitability with $9 million net income, a $51 million year-over-year improvement. Q4 highlights include Adjusted EBITDA of $41 million (up 315% YoY), total revenue of $251 million (down 4% YoY), and originations growth of 19% to $522 million.
The company demonstrated improved credit performance with Q4 annualized net charge-off rate of 11.7%, the lowest since Q3 2022, and a 30+ Day Delinquency Rate of 4.8%. Operating expenses were reduced by 31% YoY to $89 million. For full year 2024, total revenue was $1.0 billion with a net loss of $79 million, improved from a $180 million loss in 2023.
Looking ahead, Oportun raised its 2025 guidance, projecting Adjusted EPS of $1.10 to $1.30 per share, implying 53-81% growth. The company also announced the retirement of CFO Jonathan Coblentz, effective March 28, 2025.
Oportun (OPRT), a mission-driven financial services company, has scheduled its fourth quarter 2024 financial results release for Wednesday, February 12, 2025, after market close. The company will host a conference call and earnings webcast at 5:00 pm ET / 2:00 pm PT on the same day.
Investors can access the live webcast through Oportun's investor relations website at investor.oportun.com, where a replay will be available for one year. For those joining by phone, the dial-in numbers are 1-866-604-1698 (toll-free) and 1-201-389-0844 (international), with participants advised to call in 10 minutes before the scheduled start time.
Oportun (OPRT) has successfully completed a $425 million asset-backed securitization of one-year revolving fixed rate notes, secured by unsecured and secured installment loans. The transaction was over seven times oversubscribed and achieved a 6.95% average yield, marking a 127 basis point improvement from their August 2024 ABS financing.
The offering included five classes of fixed rate notes (Class A through E), rated by KBRA from AA- to B-. The weighted average coupon was 6.15%, with individual class coupons ranging from 5.01% to 10.00%. Deutsche Bank Securities acted as the sole structuring agent and co-lead, alongside Goldman Sachs and Jefferies.
Since June 2023, including this transaction, Oportun has raised approximately $2.8 billion in diversified financings through whole loan sales, securitizations, and warehouse agreements from fixed income investors and banks.
