Oportun Financial (OPRT) Q4 2025 earnings summary

Executive summary

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

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

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

• CEO Raul Vazquez announced his planned departure, with a transition to an advisory role through July 2026.

Financial highlights

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

• FY2025 GAAP net income was $25 million, reversing a $79 million loss in 2024; Adjusted EPS was $1.36, up 89% year-over-year.

• Adjusted EBITDA for FY2025 was $148 million, up 42% year-over-year; Q4 Adjusted EBITDA was $42 million.

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

• Operating expenses for Q4 were $84 million, the lowest as a public company.

Outlook and guidance

• FY2026 guidance: Adjusted EPS of $1.50–$1.65 (11–21% growth), total revenue of $935–$955 million, Adjusted EBITDA of $150–$165 million, and annualized net charge-off rate of 11.9% ± 50 bps.

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

• Full-year 2026 adjusted EPS expected to grow 16% at the midpoint; higher profitability anticipated in the second half.

• Focus on GAAP profitability growth, increased ROE, improved NCO rate, lower interest expense, and further deleveraging.