OppFi (OPFI) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $149.2M, down 3.8% YoY; Adjusted Net Income was $31.6M, down 22.5%, while GAAP net income fell 54.6% to $34.5M.

• Net originations declined 6.8% to $229.3M and ending receivables fell 4.7% to $458.6M; net charge-off ratios increased YoY.

• Launched a line of credit product and expanded LOLA platform use; FY2026 guidance was reduced at the top end, with new products and technology positioned to support 2027 growth.

Financial highlights

• Q3 total revenue was $149.2M, down 3.8% YoY; net revenue was $92.8M, down 11.3%, and operating income was $37.0M, down 23.5%.

• Net income was $34.5M versus $75.9M; diluted EPS was $0.40 versus $0.77. Adjusted EPS was $0.37 versus $0.46.

• 9M revenue increased 1.9% to $446.3M; net income was $104.1M versus $107.8M and Adjusted Net Income was $90.4M versus $113.9M.

• Q3 direct marketing costs fell 10.1% YoY and salaries and benefits fell 12.4%; professional fees rose 23.6% and technology costs rose 25.6%.

Outlook and guidance

• FY2026 guidance: revenue of $600M–$610M, Adjusted Net Income of $115M–$120M, and Adjusted EPS of $1.34–$1.40; the top ends were reduced from $625M, $130M, and $1.51, respectively.

• Adjusted EPS guidance is based on ~86M weighted-average diluted shares.

• LOC scaling, pricing changes and Model 7 are expected to support originations in Q4 and into 2027; management expects a return to unit and origination growth trends in 2027.

• Liquidity sources are expected to cover needs, including potential acquisition costs and current debt maturities, for at least 12 months from the report date.