Oportun Financial (OPRT) investor relations material

Executive summary

• Achieved seventh consecutive quarter of GAAP profitability, with Q2 2026 net income of $8.5M, up 24% year-over-year, and Adjusted EBITDA of $49M, up 56% year-over-year.

• GAAP EPS rose 21% to $0.17; Adjusted EPS increased 35% to $0.42 year-over-year.

• Total revenue was $233M, nearly flat year-over-year but above guidance.

• Leadership transition completed with a new CEO and Chief Risk Officer, emphasizing operational precision and risk management.

• Focus remains on disciplined growth, expanding secured lending, and deepening member relationships in lower-risk segments.

Financial highlights

• Adjusted Net Income rose 40% year-over-year to $21M.

• Operating expenses declined 5% year-over-year to $90M; adjusted operating expense ratio improved to 12.8% from 13.3%.

• Interest expense dropped 29.6% year-over-year, aided by balance sheet optimization and lower cost of debt.

• Adjusted EBITDA for Q2 2026 was $49M, up from $31M in Q2 2025.

• Net charge-off (NCO) rate improved to 12.0%, better than guidance and down from 12.7% in Q1.

Outlook and guidance

• Q3 2026 guidance: revenue $235–$240M, annualized net charge-off rate 11.0% ±15 bps, Adjusted EBITDA $43–$48M.

• Full-year 2026 guidance: revenue $935–$955M, annualized net charge-off rate 11.7% ±30 bps, Adjusted EBITDA $160–$175M, Adjusted Net Income $74–$82M, Adjusted EPS $1.50–$1.65.

• Interest expense expected to decline by at least 15% in 2026.

• Operating expenses expected to remain substantially flat in 2026 compared to 2025.

• Guidance assumes continued tight credit posture and no credit expansion.