OppFi (OPFI) NobleCon 20 Conference summary

Business Overview and Mission

• Operates as a mission-driven specialty finance platform enabling community banks to provide credit to underserved Americans, focusing on the 60 million with limited credit access.

• Partners with three Utah-based industrial loan banks to originate loans, with a digital, nationwide reach.

• Emphasizes transparency, no-fee term loans, and strong customer service, maintaining a high Net Promoter Score (NPS) of 78.

• Utilizes advanced technology and 15 billion data points for underwriting and product development.

• Founder-led management team with 80+ years of specialty finance experience.

Product Offerings and Customer Value

• Provides a more affordable, transparent alternative to payday and title loans for underbanked consumers.

• Interest rates are significantly lower than many competitors, with a focus on customer education.

• 4,500 paid-in-full customers return monthly, and customer reviews highlight ease of process and support.

• Maintains high customer satisfaction through transparent, easy-to-understand products and no prepayment penalties.

• Automated decisioning covers 74% of applications, enabling fast and efficient service.

Financial Performance and Strategy

• Facilitated nearly $7 billion in loan issuance across almost 4 million loans, maintaining profitability over nine cycles.

• Record total revenue in 2023, with further EPS growth expected in 2024.

• 2024 full-year guidance raised: revenue of $510M–$530M, adjusted net income of $74M–$76M, and adjusted EPS of $0.85–$0.87.

• Free cash flow generation in 2024 YTD reached $74.6M, more than double 2023 levels.

• Average customer lifetime revenue is $2,325, with an average loan size of $1,500 and an 11-month term.