---
schema_version: "secwatch.filing_event.v1"
accession: "0001538716-23-000014"
form_type: "8-K"
ticker: "OPRT"
cik: "0001538716"
company_name: "Oportun Financial Corp"
filed_at: "2023-02-09T23:59:59+00:00"
generated_at: "2026-06-19T20:13:30.006718+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Oportun cuts 10% of staff (~155 employees); expects $5-6M charge, $38M annual savings; provides preliminary Q4 results

## Summary
- Reducing corporate staff by 10%, impacting ~155 employees, and cutting external contractor spending.
- Expects non-recurring pre-tax charges of $5M to $6M in Q1 2023.
- Anticipates annualized run-rate savings of ~$38M in compensation and benefits beginning 2023.
- Announced preliminary Q4 2022 financial results; specific figures not disclosed in this release.

## SEC filing metadata
- accession: 0001538716-23-000014
- form_type: 8-K
- ticker: OPRT
- cik: 0001538716
- company_name: Oportun Financial Corp
- filed_at: 2023-02-09T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 2.05, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1538716/000153871623000014/0001538716-23-000014-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1538716/000153871623000014/oprt-20230209.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001538716-23-000014
- JSON: https://secwatch.observer/filing/0001538716-23-000014.json
- Plain text: https://secwatch.observer/filing/0001538716-23-000014.txt

## Key facts
- Earnings Releases
  Oportun Financial Corp reported preliminary financial results for the fourth quarter ended December 31, 2022.
  - Period: the fourth quarter ended December 31, 2022
  - Result: preliminary results
  source text: On February 9, 2023, Oportun Financial Corporation (the “Company”) issued a press release announcing select preliminary financial results and operating metrics for the fourth quarter ended December 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1538716/000153871623000014/0001538716-23-000014-index.htm
- Restructurings & Charges
  Oportun Financial Corp announced a restructuring with charges of $5 million to $6 million (approximately 155 employees).
  - Type: restructuring
  - Charge: $5 million to $6 million
  - Headcount: approximately 155 employees
  source text: In relation to these and other personnel related activities, management expects to incur non-recurring, pre-tax charges of $5 million to $6 million in the first quarter of 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1538716/000153871623000014/0001538716-23-000014-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.