OppFi Inc. Reports Record Earnings and Positive Outlook

Oppfi Inc ( (OPFI) ) has released its Q4 earnings. Here is a breakdown of the information Oppfi Inc presented to its investors.

OppFi Inc. is a tech-enabled, mission-driven specialty finance platform that broadens the reach of community banks to extend credit access to everyday Americans, focusing on financial inclusion and excellent customer service.

In its latest earnings report, OppFi Inc. announced a significant increase in net income for the full year 2024, marking a 112% rise year-over-year to $83.8 million. The company also reported a record adjusted net income of $82.7 million, reflecting a 99.2% increase from the previous year.

Key financial metrics highlighted in the report include a basic and diluted earnings per share of $0.36, a notable improvement from a loss per share of $0.06 in 2023. The company’s net charge-offs as a percentage of total revenue fell by 440 basis points to 39.1%, while the average yield increased by 416 basis points to 131.4%. For the fourth quarter of 2024, OppFi’s net income surged by 619.7% to $14.0 million, with adjusted net income rising by 140.3% to $20.3 million.

Looking ahead, OppFi’s management has raised its adjusted net income guidance for the first quarter of 2025 to between $22 million and $24 million, with expectations for full-year growth of 15% to 17% year-over-year. The company is optimistic about continuing its strong performance into 2025, driven by its commitment to operational excellence and customer service.