Oportun Financial Corp reported third quarter ended September 30, 2022 results: revenue $250, net income ($106), EPS $(3.21). Guidance raised.
“$946 to $951 million, and our Adjusted EPS guidance to a range between $2.19 to $2.25." Third Quarter 2022 Results Metric GAAP Adjusted 1 3Q22 3Q21 3Q22 3Q21 Total revenue $250 $159 Net income (loss) ($106) $23 $8 $24 Diluted EPS $(3.21) $0.75 $0.25 $0.78 Adjusted EBITDA ($6) $18 Dollars in millions, except per share amounts. Business Highlights ◦”
Aida Alvarez resigned as Director at Oportun Financial Corp.
“On November 1, 2022, the Honorable Aida Alvarez notified the Corporate Secretary and the Board of Directors of the Company that she intended to resign from her position as a director of the Company, as well as her roles as the chair of the nominating, governance and social responsibility committee and member of the compensation and leadership committee.”
Debt Financings
Oportun Financial Corp incurred senior notes of $300 million with Wilmington Trust, National Association at weighted average interest rate of 9.505% per annum maturing two years.
“The Notes were issued pursuant to the Indenture dated as of November 3, 2022 (the “2022-3 Indenture”) entered into between the Issuer and Wilmington Trust, National Association, as indenture trustee, as securities intermediary and as depositary bank.”
Material Agreements
Oportun Financial Corp entered into 2022-3 Indenture with Wilmington Trust, National Association valued at $300 million (effective 2022-11-03).
“The Notes were issued pursuant to the Indenture dated as of November 3, 2022 (the “2022-3 Indenture”) entered into between the Issuer and Wilmington Trust, National Association”
Casey Mueller was appointed as Principal Accounting Officer at Oportun Financial Corp.
“On April 15, 2022, the board of directors of Oportun Financial Corporation (the "Company") appointed Mr. Casey Mueller, who currently serves as the Company's Global Controller, to serve as the Company's Principal Accounting Officer.”
Frederic (Rick) Welts was appointed as Director at Oportun Financial Corp.
“appointed Mr. Roy Banks and Mr. Frederic (Rick) Welts to serve as members of the Board.”
Roy Banks was appointed as Director at Oportun Financial Corp.
“appointed Mr. Roy Banks and Mr. Frederic (Rick) Welts to serve as members of the Board.”
Sandra Smith was appointed as Director at Oportun Financial Corp.
“approved an increase in the number of directors on the Board from seven to nine and appointed Ginny Lee and Sandra Smith to serve as members of the Board.”
Ginny Lee was appointed as Director at Oportun Financial Corp.
“approved an increase in the number of directors on the Board from seven to nine and appointed Ginny Lee and Sandra Smith to serve as members of the Board.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.