Oportun Q1 GAAP net loss shrinks to $26M; returns to adjusted profitability

Oportun Financial Corp

2024-Q1 EPS reported -$0.68 revenue$250,482,000

GAAP net loss of $26M vs -$102M YoY; adjusted net income of $3.6M vs -$58M YoY.
Total revenue $250M, down 4% YoY from $260M.
Operating expenses down 15% sequentially and 25% YoY.
Adjusted EBITDA $1.9M vs -$20M YoY; raised FY 2024 guidance (midpoint EBITDA uplift 31%).
Executed additional $150M whole loan sale agreement in May 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Oportun Financial Corp updated its first quarter ended March 31, 2024 guidance (raised).

Period: first quarter ended March 31, 2024
Guidance: raised
Result: reported results

Exact text from the filing

On May 9, 2024, Oportun Financial Corporation (the “Company”) issued a press release regarding the Company’s financial results for its fiscal quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0001538716-24-000058

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