secwatch.observer — SEC 8-K summary
======================================

Issuer:     OppFi Inc. (OPFI)
CIK:        0001818502
Form:       8-K
Filed at:   2022-08-10T23:59:59+00:00
Accession:  0001818502-22-000012
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1818502/000181850222000012/0001818502-22-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1818502/000181850222000012/opfi-20220809.htm
  HTML page:      https://secwatch.observer/filing/0001818502-22-000012

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer