Oportun Financial Corporation · Q2 2023 earnings

Briefing

Reported strong top-line performance with lowest quarterly operating expenses since mid-2021, and met or exceeded each of its guidance metrics.

Oportun Financial Corporation reported a record revenue of $267 million, representing an 18% year-over-year growth. The company's operating expenses were the lowest since mid-2021, with a 14% year-over-year decline. Oportun executed two new whole loan flow sale agreements totaling up to $700 million and has over 2 million members.

• Achieved record total revenue of $267 million, an 18% year-over-year increase.
• Operating expenses were the lowest since mid-2021, declining 14% year-over-year.
• Completed two new financing agreements to sell up to $700 million in personal loan production.
• Total membership exceeded 2 million, representing a 10% increase year-over-year.

Headline financials

Revenue & EPS history

Oportun is providing the following guidance for 3Q 2023 and full year 2023. Total Revenue for 3Q 2023 is expected to be $260 - $265 M and $1,045 - $1,055 M for the full year 2023. Adjusted EBITDA is expected to be $35 - $40 M for 3Q 2023 and $70 - $75 M for the full year 2023.