Enova International (ENVA) investor relations material

Executive summary

• Q3 revenue was $1.009B, up 25.7%; originations reached $2.57B (+31%), receivables a record $5.9B (+30%), and adjusted EPS $4.48 (+33%); credit was stable or improving.

• Growth spanned consumer and small-business lending, supported by larger portfolios and resilient demand, while operating expenses grew faster than revenue.

Financial highlights

• Q3 revenue was $1.009B, up 25.7% YoY; net revenue was $614.4M, operating income $247.2M and net income $107.3M.

• Diluted EPS was $4.06, up 34% YoY; adjusted diluted EPS was $4.48, up 33%.

• Q3 adjusted EBITDA was $268.6M, up from $217.7M; adjusted EBITDA margin was 26.6% versus 27.1%.

• 9M revenue rose 21.7% to $2.813B and net income rose 32.3% to $303.5M; adjusted earnings were $333.7M and adjusted diluted EPS $12.64.

Outlook and guidance

• Q4 2026 revenue is expected to rise ~25% YoY; adjusted EPS is expected to increase 30%-35%, subject to macro conditions, demand, payment rates and origination level, timing and mix.

• Q4 net revenue margin guidance is 55%-60%; SMB margin is expected in its typical 60%-70% range, while consumer margin is expected to trend toward ~50% as recent vintages season.

• Q4 expense guidance: marketing ~20% of revenue, operations and technology 8%-8.5%, and G&A 4.5%-5%, excluding one-time costs.

• Liquidity needs are expected to be met through operating cash flow, available cash, the revolving Credit Agreement, and securitization or sale of receivables; no recourse debt maturities are scheduled before Dec. 2028.