OppFi reports Q2 revenue up 38% to $107.9M, but net income drops 47%; cuts FY guidance to break-even

OppFi Inc.

2022-Q2 EPS reported $0.10

Revenue $107.9M (+37.6% YoY); net income $9.5M (-47.2%); adjusted EBITDA $20.0M (-38%).
Net originations $226.2M (+57%); ending receivables $401.5M (+54%); annualized net charge-offs 51% vs 28% YoY.
Marketing cost per new funded loan down to $206 from $245; auto-approval rate 62% vs 51%.
Reaffirms FY22 revenue growth 20-25%, but now expects break-even to modest adjusted net loss due to inflation/credit.
Repurchased 333K shares for $1.1M in Q2; withdrew prior guidance for other metrics.

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