OppFi Q1 revenue up 20% to $100.7M; net loss $0.3M as charge-offs hit 56% annualized

OppFi Inc.

2022-Q1 EPS reported $0.08

Q1 revenue $100.7M (+20% YoY); GAAP net loss of $0.3M vs net income $24.4M a year ago.
Net originations $162.8M (+63% YoY); ending receivables $338.5M (+38%).
Annualized net charge-offs as % of avg receivables rose to 56% from 30% a year ago.
Auto-approval rate improved to 61% vs 41%; marketing cost per new loan fell to $221 from $266.
Re-affirmed FY2022 guidance: 20-25% revenue growth, 20-25% adj. EBITDA margin.

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