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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.
Access comprehensive coverage of OPRT's latest press releases, earnings reports, and market analyses. Track key announcements including loan product expansions, partnership agreements, regulatory updates, and technology advancements driving financial inclusion.
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Bookmark this page for continuous access to verified OPRT news updates. Stay informed about this fintech leader's progress in creating affordable financial solutions while maintaining responsible lending practices across its growing service network.
Oportun (Nasdaq: OPRT) is set to engage investors at the Jefferies Consumer Conference and East Coast Ideas Conference. CEO Raul Vazquez will lead a fireside chat on June 20, available for viewing at 8 AM ET, for 30 days. Additionally, Oportun will present at the East Coast Ideas Conference on June 22 at 6 AM ET, accessible for 90 days. The webcasts can be found on Oportun’s Investor Relations website. The company, recognized as a Community Development Financial Institution, emphasizes inclusive financial services, having provided over $13 billion in affordable credit.
Oportun (Nasdaq: OPRT) has successfully issued $400 million in two-year revolving asset-backed notes, supported by a pool of unsecured and secured installment loans. This offering features four classes of fixed-rate notes rated by DBRS, with Class A, B, and C attracting a weighted average yield of 5.68%. This transaction underscores Oportun's ability to secure growth capital in challenging markets, reflecting strong investor confidence in its A.I.-driven underwriting capabilities. The Class D bonds will be retained by Oportun, further supporting its existing financing facilities.
Oportun Financial Corporation (Nasdaq: OPRT) reported strong Q1 2022 results, achieving a 139% year-over-year growth in originations and a 59% rise in total revenues, reaching $215 million. Record diluted EPS stood at $1.37, while adjusted EPS was $1.58. The company raised its full-year revenue guidance to $910-$930 million and adjusted EPS guidance to $2.45-$2.56. Membership grew to 1.7 million, driven by increased product adoption. However, the 30+ Day Delinquency Rate rose to 4.5% from 3.0% year-over-year.
Oportun (Nasdaq: OPRT) will announce its first-quarter 2022 financial results on May 9, 2022, after market close. A conference call will follow at 5:00 PM ET, providing an opportunity for investors to discuss the results. Participants are advised to dial in 10 minutes prior to the start. Oportun is a fintech platform that aims to deliver inclusive financial services and has supported over 1.5 million members with more than $12 billion in affordable credit since its inception.
Oportun (Nasdaq: OPRT) announced the appointment of Dorian Hare as SVP of Investor Relations, bringing prior experience from Equifax and Moody's. CEO Raul Vazquez emphasized the importance of effective communication in driving shareholder value amidst the company’s growth potential. Additionally, Casey Mueller has been promoted to Senior VP and Principal Accounting Officer. Oportun reported record revenue of $627 million and Adjusted Net Income of $79 million for 2021, highlighting its successful digital banking strategy and commitment to providing affordable financial services.
Oportun (Nasdaq: OPRT) announced a sale of $228 million in loans through amortizing asset-backed notes, part of a $400 million total issuance. The transaction features loans secured by personal installment loans and achieved a yield of 6.75% on Oportun's share. Priced at a fixed interest rate of 3.83% per annum, the notes received favorable ratings from DBRS and Kroll. This strategic move allows Oportun to generate capital while reducing credit exposure. Oportun has provided over $12 billion in credit to its members since its inception.
Oportun Financial Corporation (OPRT) reported a robust performance for 4Q21, with aggregate originations of $865 million—up 93% year-over-year—bringing FY21 total to a record $2.3 billion. Total revenue for 4Q21 reached $194 million, a 38% increase, while net income rose to $14.2 million, or $0.46 per diluted share. Adjusted net income stood at $25.6 million, or $0.82 per diluted share. The company's member base grew to 1.48 million following the acquisition of Digit, boosting digital banking capabilities. Oportun forecasts continued growth in 2022 with projected revenue and originations increasing significantly.
Oportun Financial Corporation (Nasdaq: OPRT) will announce its financial results for the fourth quarter of 2021 on February 24, 2022, post-market close. A conference call and earnings webcast will occur at 5:00 pm ET. Interested participants can join via dial-in or through the company's investor relations website. Since its inception, Oportun has provided over $10 billion in loans to 1.4 million members, helping them save significantly on fees and interest. The firm is recognized as a Community Development Financial Institution (CDFI) since 2009.
