Welcome to our dedicated page for Oportun Financial news (Ticker: OPRT), a resource for investors and traders seeking the latest updates and insights on Oportun Financial stock.
Oportun Financial Corporation (Nasdaq: OPRT) is a mission-driven fintech company dedicated to providing responsible and affordable financial services, particularly to individuals with limited or no credit history. Formerly known as Progreso Financiero, Oportun focuses on empowering the underserved Hispanic community in the United States through advanced data analytics and technology.
Oportun’s suite of financial products includes personal loans, auto loans, unsecured personal loans, and secured personal loans. Additionally, the company offers deposit accounts, debit card services, and other transaction services to its customers. Oportun operates over 170 locations across California, Illinois, Texas, Utah, and Nevada, with a commitment to delivering a supportive service experience through bilingual staff and multi-channel support.
In recent news, Oportun entered into a $400 million whole loan flow sale agreement with Castlelake, an experienced investor in the consumer credit sector, to acquire personal loan production from Oportun over the next 12 months. This strategic relationship underscores the sustained strong demand for Oportun's lending products among institutional investors and is expected to bolster Oportun's mission of financial inclusion.
Since its inception, Oportun has provided over $17.8 billion in responsible credit, helping members save more than $2.4 billion in interest and fees. The company is also leveraging artificial intelligence to enhance its borrowing, saving, and budgeting capabilities, thereby aiding its 2.2 million members in building better financial futures.
Despite some challenges, including an 82% decline in stockholder return since its IPO in late 2019, Oportun's core business remains robust. The company’s leadership is under scrutiny from significant shareholders like Findell Capital Management, who are urging more decisive actions to unlock shareholder value.
For more detailed information on Oportun Financial Corporation and its latest developments, visit their website at Oportun.com.
Oportun (Nasdaq: OPRT), a fintech and digital banking platform, will present at the Southwest IDEAS Investor Conference on November 16, 2022, at 7:20 AM CT in Dallas, TX. CEO Raul Vazquez and CFO Jonathan Coblentz will lead the presentation, available via a live webcast on the conference website and Oportun's Investor Relations page. Since its founding, Oportun has disbursed over $14 billion in credit and saved members $2.3 billion in interest. Oportun is recognized as a Community Development Financial Institution, serving over 1.8 million members.
Oportun Financial Corporation (Nasdaq: OPRT) reported a strong Q3 2022 with total revenue of $250 million, a 57% year-over-year increase. Early-stage delinquencies declined following July credit tightening, and first payment defaults fell below 2019 levels. The company is raising its full year 2022 revenue guidance to between $946 million and $951 million, with adjusted EPS guidance of $2.19 to $2.25. However, net loss increased to $106 million due to a $108 million goodwill impairment charge.
Oportun (Nasdaq: OPRT) has announced the issuance of $300 million in Series 2022-3 fixed rate asset-backed notes, enabling its fifth major financing this year. This private securitization transaction is backed by a pool of unsecured and secured installment loans, demonstrating the company's strong access to capital markets despite current economic challenges. The notes received ratings ranging from AA (low) to BB from DBRS, Inc. and were distributed among institutional investors. Oportun aims to support its mission of providing affordable financial services to its 1.8 million members.
Oportun (Nasdaq: OPRT) will announce its third quarter 2022 financial results on November 7, 2022, after the market closes. A conference call to discuss these results is scheduled for the same day at 5:00 pm ET. Oportun, a digital banking platform, has provided over $14 billion in credit and saved members more than $2.3 billion in interest and fees. With a commitment to affordable financial services, Oportun has helped members set aside over $8.1 billion for savings. The call will be accessible via the investor relations website.
Oportun (Nasdaq: OPRT), a fintech and digital banking platform, will participate in the Sidoti September Virtual Investor Conference. CEO Raul Vazquez and CFO Jonathan Coblentz will present at 1:00 ET on September 21. The presentation will be accessible live via a provided link. A replay will be available for 90 days after the event. Oportun aims to enhance financial health for its 1.8 million members through affordable financial services, having provided over $14 billion in credit and saved members more than $2.3 billion in interest and fees.
Oportun (Nasdaq:OPRT), a fintech company, announced the granting of 330,460 restricted stock units to 56 new employees on September 10, 2022. These grants, made under the 2021 Inducement Equity Incentive Plan, have a four-year vesting term, with 25% vesting after one year and the remainder vesting quarterly. The grants align with Nasdaq Rule 5635(c)(4) and serve as material inducements for employment. Oportun, certified as a Community Development Financial Institution, provides inclusive financial services and has extended over $14 billion in credit since its inception.
Oportun Financial Corporation (Nasdaq: OPRT) announced the closure of a $150 million senior secured term loan maturing in 2026 from Neuberger Berman. This funding aims to bolster Oportun's growth and investment strategies amidst tighter credit standards. CFO Jonathan Coblentz emphasized that the loan will enhance capital and liquidity for future financing initiatives. Neuberger Berman's investment reflects confidence in Oportun's business model, which focuses on providing affordable financial services to underserved communities.
Oportun (Nasdaq: OPRT) will participate in the Barclays Global Financial Services Conference on September 13, 2022. CEO Raul Vazquez is set to engage in a fireside chat, available for streaming from 2:45 PM ET. This session will be accessible for 90 days via the company's investor relations website. Oportun, a fintech platform, has provided over $14 billion in responsible credit and helped members save more than $2.3 billion in fees since its inception. The firm is recognized as a Community Development Financial Institution, emphasizing affordable financial services.
Oportun Financial Corporation (Nasdaq: OPRT) reported strong second quarter results for 2022, with aggregate originations of $878 million, soaring 103% year-over-year. Total revenue reached $226 million, marking a 63% increase, driven by higher interest income. The company reported an annualized member growth of 38%, totaling 1.8 million members. However, Oportun revised its charge-off guidance upwards and lowered profit expectations due to a weakening macroeconomic backdrop. Despite a net loss of $9 million, the outlook remains positive for future profitable growth.
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