Oportun Q4 GAAP net loss $42M, FY23 revenue $1.1B (+11%); guides improved FY24 profitability

Oportun Financial Corp

GAAP net loss $42M in Q4 ($1.09 diluted EPS) vs $8.4M loss a year ago; FY23 net loss $180M ($4.88 diluted EPS).
Total revenue $263M in Q4, FY23 revenue $1.1B, up 11% YoY.
Adjusted net loss $21M in Q4 ($0.54 diluted EPS); FY23 adjusted net loss $124M ($3.37 diluted EPS).
Adjusted EBITDA $6.1M in Q4 vs negative $34M in Q4 2022; FY23 adjusted EBITDA $1.7M vs negative $10M in FY22.
Announced additional $30M in run-rate opex savings by Q4 2024; completed $200M ABS in February at 160 bps lower pricing.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Oportun Financial Corp reported fourth quarter and full year ended December 31, 2023 results: revenue Total revenue of $263 million, bringing FY23 to $1.1 billion, net income Net income (loss) ($42) million for 4Q23; ($180) million for FY23, EPS Diluted EPS ($1.09) for 4Q23; ($4.88) for FY23.

Period: fourth quarter and full year ended December 31, 2023
Revenue: Total revenue of $263 million, bringing FY23 to $1.1 billion
Net income: Net income (loss) ($42) million for 4Q23; ($180) million for FY23
EPS: Diluted EPS ($1.09) for 4Q23; ($4.88) for FY23
Result: reported results

Exact text from the filing

Oportun Reports Fourth Quarter and Full Year 2023 Financial Results 4Q23 Total revenue of $263 million, bringing FY23 to $1.1 billion, up 11% year-over-year

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Oportun Financial Corp reported fiscal quarter and full year ended December 31, 2023 results: revenue $263 million for the fourth quarter; full year $1.1 billion. Guidance reaffirmed.

Period: fiscal quarter and full year ended December 31, 2023
Revenue: $263 million for the fourth quarter; full year $1.1 billion
Guidance: reaffirmed
Result: reported results

Exact text from the filing

as expressly stated by specific reference in such filing. --- EX-99.1 (EX-99.1) --- Oportun Reports Fourth Quarter and Full Year 2023 Financial Results 4Q23 Total revenue of $263 million, bringing FY23 to $1.1 billion, up 11% year-over-year Quarterly operating expense down 15% $30 million in additional operating expense reductions announced $200 million February

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3 earnings releases filed in the last 30 days. Browse all earnings releases →

Oportun Financial Corp filing history →

Source: SEC EDGAR

accession 0001538716-24-000025

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