Oportun Financial Corp (OPRT): restructuring charge — Oportun reports Q3 revenue $268M (+7% YoY), net loss $(21)M; announces 185 job cuts for $80M annual savings

million, we're well positioned for profitable, sustainable growth in service of our members." Third Quarter 2023 Results Metric GAAP Adjusted 1 3Q23 3Q22 3Q23 3Q22 Total revenue $268 $250 Net income (loss) $(21) $(106) ($18) $8.4 Diluted EPS $(0.55) $(3.21) $(0.46) $0.25 Adjusted EBITDA $16 $(6.2) Dollars in millions, except per share amounts. Business

Effective November 4, 2023, Mr. Carl Pascarella retired from his role as a director of the Company, as well as his roles as the lead independent director and member of the compensation and leadership committee, the credit risk and finance committee and the nominating, governance, and social responsibility committee.

Further, Mr. R. Neil Williams assumed the role of lead independent director.

On November 6 , 2023, the Company announced that it is taking a series of personnel and other cost saving measures to reduce expenses and streamline efficiency. These measures include a headcount reduction of 185 employees, representing approximately 18% of the Company's corporate staff, which excludes retail and contact center agents. The Company also announced additional measures to reduce its expenditures on external contractors and vendors. In relation to these and other personnel related activities, management expects to incur non-recurring, pre-tax charges of approximately $7 to $8 million in the fourth quarter of 2023 , consisting primarily of severance payments, employee benefits contributions and related costs associated with the Company's headcount reduction.