OppFi Reports Financial Results for the Third Quarter of 2021

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OppFi Reports Financial Results for the Third Quarter of 2021

Ending Receivables for the third quarter of 2021 up 22% year over year and 13% sequentially

Adjusted Net Income of $17.4 million for the third quarter of 2021, $54.4 million for the first nine months of 2021, up 60% over the first nine months of 2020

Adjusted Basic and Diluted EPS of $0.21 for the third quarter of 2021

Basic and Diluted EPS of $1.06 for the third quarter of 2021

Story Highlights

  • Net Originations for the third quarter of 2021 up 25% year over year and 14% sequentially to a record $165 million

  • Net Income of $30.4 million for the third quarter of 2021, $72.8 million for the first nine months of 2021

CHICAGO, November 11, 2021–(BUSINESS WIRE)–OppFi Inc. (NYSE: OPFI) (“OppFi” and “the Company”), a leading financial technology platform that powers banks to help the everyday consumer gain access to credit, today reported financial results for the third quarter ended September 30, 2021.

“We are pleased with our results for the third quarter as growth continued to rebound with a record $165 million in quarterly originations together with strong revenue and profitability, ” said Jared Kaplan, Chief Executive Officer of OppFi. “We remain excited about our ability to scale the OppFi platform with a multi-product solution to serve the everyday consumer. Recently we secured financing for our SalaryTap and OppFi Card businesses which we plan to use to allow those businesses to scale. We are piloting a more personalized approach to pricing with our bank partners in our flagship installment business. We believe personalized pricing could allow us to serve an even larger portion of our addressable market and drive stronger growth over time. Furthermore, we delivered our inaugural Social Impact Report which highlights our mission of expanding credit access, while building financial health for our customers.”

Financial Summary Story continues

The following table presents a summary of OppFi’s results for the three and nine months ended September 30, 2021. (in Thousands, except per share values) Unaudited

Three Months Ended September 30, Variance

% Total revenue

2020 2021