From The Motley Fool · Motley Fool Transcribing · · 2m
OppFi Q3 2026 Earnings Results
OppFi reports 3.8% revenue drop as it tests affordable credit products.
In brief
OppFi reports 3.8% revenue drop as it tests affordable credit products. OppFi's Q3 2026 earnings show 3.8% year-over-year revenue decline to $149.2 million with 22.5% adjusted net income drop, but the company maintains its long-term target of $3.00 EPS by 2028. Originally reported by The Motley Fool.
Q3 2026 Financial Results
OppFi reported total revenue of $149.2 million, a 3.8% decrease year over year.
Adjusted Net Income Decline
Adjusted net income fell to $31.6 million, a 22.5% decrease compared to Q3 2025.
Adjusted EPS Drop
Adjusted EPS decreased to $0.37 from $0.46 in the same quarter last year.
Total Net Originations
Total net originations decreased to $229.3 million, a 6.8% decline year over year.
Retained Net Originations
Total retained net originations dropped to $190.7 million, an 11.4% decrease versus prior year.
Ending Receivables
Ending receivables decreased to $458.6 million, a 4.7% drop from $481.0 million as of Sept. 30, 2025.
Net Charge-offs
Net charge-offs as a percentage of revenue rose to 40.1% from 35.1% in the prior year period.
Recoveries Growth
Recoveries increased to $15 million from $11 million in the prior year period.
Auto-approval Rate
Auto-approval rate improved to 80.1% from 79.1% in Q3 2025.
Operating Expenses
Adjusted operating expenses totaled $52 million, or 35% of revenue, compared to 34% in the prior year period.
Cash and Debt Position
Cash and restricted cash stood at $140.7 million with total debt at $349.6 million.
Bitty Funding Milestone
Bitty surpassed $1 billion in total funding since 2021, marking significant growth for small business funding.
New Credit Product Launch
OppFi launched a new line of credit product in Q3 2026 to expand credit access with flexible terms.
LOLA Platform Migration
OppFi migrated 100% of new customers to the LOLA technology platform for faster product development.
Model 7 Performance
Model 7 improved marketing accuracy by 20% in aligning prescreening scores with bank partners' underwriting criteria.
Full Year 2026 Guidance
OppFi guided full year 2026 revenue of $600 million to $610 million with adjusted net income of $115 million to $120 million.
The essence
OppFi's Q3 2026 earnings show 3.8% year-over-year revenue decline to $149.2 million with 22.5% adjusted net income drop, but the company maintains its long-term target of $3.00 EPS by 2028.
