{"schema_version":"secwatch.filing_event.v1","accession":"0001538716-23-000029","form_type":"8-K","ticker":"OPRT","cik":"0001538716","company_name":"Oportun Financial Corp","filed_at":"2023-03-13T23:59:59+00:00","discovered_at":"2026-05-14T18:03:45.497022+00:00","generated_at":"2026-06-18T04:25:08.568191+00:00","sec_items":["1.01","2.02","2.03","3.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Oportun reports Q4 GAAP loss $8.4M; FY22 net loss $78M; amends credit with $25M loans and warrants","bullets":["Q4 GAAP: revenue $262M, net loss $8.4M ($0.25 diluted loss); FY22: revenue $953M (+52%), net loss $78M ($2.37 loss).","Adjusted: Q4 net income $4.6M ($0.14 EPS); FY22 adjusted net income $69M ($2.09 EPS); adjusted EBITDA -$34M Q4 vs +$23M prior year.","FY22 originations $2.9B (+27%); managed principal $3.4B (+32%); annualized net charge-off 10.1% vs 6.8% prior year; Q4 charge-off 12.8% expected to be peak.","Amended credit agreement: $25M committed term loans at SOFR+12%; warrants for ~1.98M shares at $0.01; new covenants: minimum liquidity $50M, asset coverage ratio.","Cost actions to save $48-53M annually; 2023 guidance expects improved performance from Q2 onward."],"urls":{"canonical":"https://secwatch.observer/filing/0001538716-23-000029","json":"https://secwatch.observer/filing/0001538716-23-000029.json","markdown":"https://secwatch.observer/filing/0001538716-23-000029.md","text":"https://secwatch.observer/filing/0001538716-23-000029.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1538716/000153871623000029/0001538716-23-000029-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1538716/000153871623000029/oprt-20230310.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-18T04:25:08.568191+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"1d9f9277a3dff1ba6eff6fd8dda3e48d3124bebf","claim":"Oportun Financial Corp incurred term loan of $20.8 million of incremental term loans with certain affiliates of Neuberger Berman Specialty Finance as lenders at 1-month term SOFR plus 9.00% plus an amount payable in cash or in kind, at the C maturing September 14, 2026.","evidence_excerpt":"On March 10, 2023 (the “Second Amendment Closing Date”), Oportun Financial Corporation (the “Company”) entered into an Amendment No. 2 to Credit Agreement (the “Second Amendment”), by and among the Company, as borrower, the subsidiaries of the Company party thereto as guarantors, certain affiliates of Neuberger Berman Specialty Finance as lenders, and Wilmington Trust, National Association, as administrative agent and collateral agent (the “Agent”), which amended the Credit Agreement, dated as of September 14, 2022 (as amended, supplemented or otherwise modified, including by the Second Amendment, the “Amended Credit Agreement”), by and among the Company, the lenders from time to time party thereto and the Agent. On the Second Amendment Closing Date, the Company borrowed $20.8 million of incremental term loans (the “Incremental Tranche A-1 Loans”) and intends to borrow an additional $4.2 million of incremental term loans (the “Incremental Tranche A-2 Loans”) on or about March 27, 2023,","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1538716/000153871623000029/0001538716-23-000029-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$20.8 million of incremental term loans"},{"label":"Counterparty","value":"certain affiliates of Neuberger Berman Specialty Finance as lenders"},{"label":"Rate","value":"1-month term SOFR plus 9.00% plus an amount payable in cash or in kind, at the C"},{"label":"Maturity","value":"September 14, 2026"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"c384280f6a1068ceafe591388c282f2bd47fdf67","claim":"Oportun Financial Corp reported financial results for the fourth quarter and full year ended December 31, 2022.","evidence_excerpt":"On March 13, 2023, the Company issued a press release regarding the Company’s financial results for its fiscal quarter and full year ended December 31, 2023.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1538716/000153871623000029/0001538716-23-000029-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fourth quarter and full year ended December 31, 2022"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"94bb607103838566a44561ddeb51cb34c3dee2c5","claim":"Oportun Financial Corp amended Amendment No. 2 to Credit Agreement with certain affiliates of Neuberger Berman Specialty Finance (effective 2023-03-10).","evidence_excerpt":"On March 10, 2023 (the “Second Amendment Closing Date”), Oportun Financial Corporation (the “Company”) entered into an Amendment No. 2 to Credit Agreement (the “Second Amendment”), by and among the Company, as borrower, the subsidiaries of the Company party thereto as guarantors, certain affiliates of Neuberger Berman Specialty Finance as lenders, and Wilmington Trust, National Association, as administrative agent and collateral agent (the “Agent”), which amended the Credit Agreement, dated as of September 14, 2022","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1538716/000153871623000029/0001538716-23-000029-index.htm","confidence":0.98,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"certain affiliates of Neuberger Berman Specialty Finance"},{"label":"Effective","value":"2023-03-10"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}