Oportun Financial ( (OPRT) ) has shared an update.
Oportun Financial Corporation has completed the sale of its credit card receivables to Continental Finance, and reported its third-quarter financial results with a focus on cost reduction and improved credit performance. Despite a 7% drop in total revenue compared to the previous year, the company achieved significant improvements in its financial metrics, including a 17% decrease in operating expenses and doubling its Adjusted EBITDA to $31 million. With these advancements, Oportun is poised to enhance profitability and resume growth, aiming for GAAP profitability and improved credit performance in 2025.
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