Oportun Financial Corp. Reports Strong 2024 Earnings

Oportun Financial Corp. ( (OPRT) ) has released its Q4 earnings. Here is a breakdown of the information Oportun Financial Corp. presented to its investors.

Oportun Financial Corp. is a financial services company focused on providing responsible and affordable credit to its members, aiming to help them achieve their financial goals. The company operates primarily in the financial services sector with a mission-driven approach.

Oportun Financial Corp. reported strong fourth-quarter and full-year 2024 financial results, showcasing a return to GAAP profitability. The company achieved a net income of $9 million in the fourth quarter and adjusted EBITDA significantly increased by 315% year-over-year, highlighting effective cost management and strategic initiatives.

Key financial metrics from the fourth quarter include a 19% increase in aggregate originations, a 34.2% portfolio yield, and a reduction in operating expenses by 31% year-over-year. The annualized net charge-off rate improved to 11.7%, indicating better credit performance. For the full year, total revenue was $1 billion, with adjusted net income reaching $29 million, a significant improvement from the previous year’s loss of $71 million.

The company is optimistic about 2025, raising its full-year expectations for adjusted EPS to between $1.10 and $1.30 per share, suggesting growth between 53% and 81%. Management is confident in their strategic priorities and expects continued improvement in financial performance.

Looking ahead, Oportun Financial Corp. is well-positioned to capitalize on its momentum. The company aims to advance its strategic priorities, maintaining a focus on cost discipline and improving credit performance to drive growth in 2025 and beyond.