Oportun Financial (OPRT) investor relations material

Executive summary

• Revenue returned to YoY growth for the first time since Q4 2023, rising 3.2% to $246.3M as originations grew 11.7% to $571.8M.

• GAAP net income rose to $22.9M from $5.2M; diluted EPS was $0.45, and Adjusted EBITDA increased 37% to $56.5M.

• Eighth consecutive quarter of GAAP profitability; Q3 revenue, Adjusted EBITDA and annualized NCO rate beat guidance, and FY26 outlook increased.

• Lower interest expense and net charge-offs, alongside improved credit metrics, supported higher earnings and 21.6% GAAP ROE.

Financial highlights

• Total revenue was $246.3M, up 3.2% YoY; net revenue was $126.6M, up 20.5%, reflecting lower interest expense.

• Adjusted net income rose 37.8% to $25.9M; Adjusted EPS was $0.51 versus $0.39, and Adjusted EBITDA was $56.5M versus $41.2M.

• Interest expense was $41.1M, down 27.4% YoY; nine-month revenue was $708.3M, down 0.1%.

• Operating expenses were $92.0M versus $90.8M; Adjusted Operating Expense was $92.4M, up 9%, primarily on higher marketing and personnel costs.

• Q3 G&A was $2.2M versus $10.5M, including a $5.6M non-recurring receipt tied to the Mexico VAT refund resolution and lower shareholder-activism costs.

Outlook and guidance

• FY26 revenue guidance: $955M–$960M; annualized NCO rate: 11.6% ±10 bps.

• FY26 Adjusted EBITDA guidance: $183M–$188M; Adjusted net income: $80M–$85M; Adjusted EPS: $1.60–$1.70, implying 21% YoY growth at midpoint.

• Q4 guidance: revenue $247M–$252M, annualized NCO rate 11.05% ±15 bps, Adjusted EBITDA $49M–$54M, Adjusted net income $21.8M–$26.2M and Adjusted EPS $0.43–$0.51.

• FY26 originations growth is expected toward the higher end of the mid-single-digit range; operating expenses are expected to increase at a low-single-digit rate.