Enova International Inc. ( (ENVA) ) has released its Q4 earnings. Here is a breakdown of the information Enova International Inc. presented to its investors.
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Enova International Inc. is a prominent financial services company utilizing machine learning and analytics to provide online lending solutions to underserved small businesses and consumers. In its latest financial report, Enova announced impressive results for the fourth quarter and full year of 2024, demonstrating significant growth in originations and revenue, accompanied by substantial increases in earnings per share and adjusted EBITDA.
In the fourth quarter of 2024, Enova experienced a 25% increase in total revenue to $730 million compared to the same quarter in the previous year, with a net income surge of 83% to $64 million. The company’s net revenue margin remained stable at 57%, reflecting robust credit performance. For the full year, Enova reported a 26% rise in total revenue to $2.7 billion and a 20% increase in net income to $209 million. Adjusted earnings per share saw a significant boost, up 34% to $9.15 from the previous year.
Key financial metrics from the report include a 20% growth in combined loans and finance receivables to a record $4 billion by year-end. The company also completed $1.7 billion in originations during the fourth quarter alone. Enova’s liquidity position was strong, with $1.3 billion in cash and marketable securities and available capacity on facilities as of December 31, 2024. Additionally, Enova repurchased $51 million of common stock, showcasing confidence in its ongoing financial performance.
Looking ahead, Enova’s management remains optimistic about the company’s growth trajectory and market position. With a focus on meeting customer needs and delivering shareholder value, the company is poised to leverage its competitive strengths and technological capabilities to sustain its momentum into 2025 and beyond.
