Enova International (ENVA) investor relations material

Executive summary

• Q2 2026 originations grew 27% year-over-year to $2.3 billion, with strong credit performance and diversified product offerings driving results.

• Total revenue for Q2 2026 increased 22% year-over-year to $929 million, with adjusted EPS up 33% to $4.31 and net income reaching $105 million.

• Portfolio grew 28% year-over-year to $5.5 billion, with small business products comprising about 69% and consumer products 31%.

• Announced definitive agreement to acquire Grasshopper Bank, expected to close in the second half of 2026, aiming to expand digital banking capabilities and drive EPS accretion of over 15% in the first year post-closing and over 25% once synergies are realized.

• Leveraged advanced analytics and technology for underwriting and customer acquisition, serving both non-prime consumers and small businesses.

Financial highlights

• Adjusted EPS for Q2 2026 was $4.31, up 33% year-over-year; diluted EPS reached $4.00, up from $2.86 in Q2 2025.

• Net revenue margin improved to 61% from 58% year-over-year.

• Adjusted EBITDA for Q2 2026 was $256 million, with a margin of 27.5%.

• Small business lending revenue grew 35% to $439 million; consumer revenue rose 11% to $477 million.

• Annualized quarterly return on equity exceeded 30%.

Outlook and guidance

• Full-year 2026 revenue growth forecasted at 20%-25% over 2025, with adjusted EPS growth of 30%-35%.

• Grasshopper acquisition expected to generate adjusted EPS accretion of over 15% in the first year post-closing and over 25% once synergies are fully realized.

• Guidance does not include any contribution from the pending Grasshopper Bank acquisition.

• Management expects continued growth in both consumer and SMB lending, supported by technology and expanded product offerings.

• Raised full-year outlook based on Q2 performance.