Oportun Financial (OPRT) Q4 2025 earnings summary

Executive summary

• Achieved fifth consecutive quarter of GAAP profitability in Q4 2025, meeting or exceeding all guidance metrics, with full-year GAAP net income up $104 million year-over-year to $25 million and Adjusted EPS up 89%.

• Originations grew 10% for the year, while operating expenses declined 12% and interest expense fell 3%.

• Strategic focus on improving credit outcomes, strengthening business economics, and identifying high-quality originations drove performance.

• CEO Raul Vazquez announced his planned departure, with a transition to an advisory role through July 2024.

Financial highlights

• FY2025 total revenue was $957 million, down $45 million year-over-year due to the credit card portfolio sale and credit tightening, but net revenue rose $111 million (37%) to $406 million.

• Adjusted EPS for FY2025 was $1.36, up 89% year-over-year; Adjusted Net Income was $65 million, up 122%.

• Adjusted EBITDA for FY2025 was $148 million, up 42% year-over-year.

• Q4 2025 total revenue was $248 million, down 1% year-over-year due to the absence of credit card revenue after portfolio sale.

• Q4 net income was $3.4 million; Q4 Adjusted EPS was $0.27.

Outlook and guidance

• FY2026 guidance: Adjusted EPS of $1.50–$1.65, total revenue of $935–$955 million, Adjusted EBITDA of $150–$165 million, and annualized net charge-off rate of 11.9% ± 50 bps.

• Expect mid-single-digit originations growth, 1–2% decline in average daily principal balance, and at least 10% reduction in interest expense.

• Anticipate higher profitability in the second half of 2026 as originations ramp and loss rates improve.

• Modest incremental profit expected from risk-based pricing initiatives in 2026, with greater impact anticipated in 2027.

• Q1 2026 guidance: Total revenue of $225–$230 million, Adjusted EBITDA of $25–$30 million, and Adjusted EPS of $0.50–$0.55.