OppFi Inc. 2026 Q2 Earnings Call
Review the key takeaways and the transcript of this earnings call.
- OppFi reported second quarter 2026 revenue of $145 million, a 1.9% increase over Q2 2025, setting a company record for any second quarter.
- Originations decreased by approximately 9% to $212 million compared to the prior year quarter due to tightened underwriting in less attractive risk segments.
- Net charge offs as a percentage of revenue increased to approximately 40% from 32% in the prior year period, and net charge offs as a percentage of receivables increased to approximately 52% from 43%.
- Recoveries improved to approximately $15 million from $11 million in the prior year period, partially offsetting charge offs.
- Adjusted operating expenses were approximately $49 million or 34% of revenue, slightly down from 35% in the prior year period; unadjusted expenses were 43% of revenue due to one-time costs related to the BNC transaction and corporate simplification.
- Adjusted net income decreased by 27% to approximately $29 million, and adjusted earnings per share decreased to $0.33 from $0.45 year over year.
- OppFi ended the quarter with approximately $92 million in cash and equivalents, $277 million in total debt, and $414 million in total stockholders equity, with total funding capacity of $541.8 million including $173.5 million of unused debt capacity.
- The company began repurchasing shares under a $40 million board authorized repurchase program during the quarter.
STOCKNOW INSIGHTS
Continue with outlook and guidance.
Log in to unlock executive comments and Q&A highlights.
Log in for the full summaryStockNow uses AI to translate and summarize earnings calls. Accuracy and completeness are not guaranteed.
Transcript
Preview the first five paragraphs, organized by speaker.
Good afternoon, and welcome to OppFi's second quarter 2026 earnings conference call. As a reminder, this conference is being recorded. I am pleased to introduce your host, Jared Polak.
You may begin. Thank you, operator.
Good afternoon, and welcome to OppFi's second quarter 2026 earnings call. Today, our Executive Chairman and CEO, Todd Schwartz, and CFO, Pam Johnson, will present our financial results, followed by a question and answer session. You can access the earnings presentation on our website at investors.oppfi.com. During this call, OppFi may discuss certain forward-looking information. The company's filings with the SEC describe factors that could cause actual results, developments, and business decisions to differ materially from forward-looking statements. Please refer to slide 2 of the earnings presentation and press release for our disclaimer statement covering forward-looking statements and references to information about non-GAAP financial measures, which will be discussed throughout today's call. Reconciliations of those measures to GAAP measures can be found in the appendix to our earnings presentation and press release.
In addition, certain important information related to the BNCC transaction is included in the registration statement on Form S-4 filed by OppFi in conjunction with the transaction. Investors are encouraged to read the Form S-4 and other documents filed with the SEC in conjunction with the transaction. Additionally, OppFi and BNCC and their directors and officers may be deemed to be participating in a solicitation of proxies in favor of the proposed merger. Please refer to the disclaimer information included in our earnings release. With that, I'd like to turn the call over to Todd.
Thanks, Jared, and good afternoon, everyone. Thank you for joining us today. I'll first share a business update, and then Pam will review our strategic investments and Q2 financial performance in detail. While Q2 fell short of our original financial expectations, we believe it was one of our most productive quarters from a strategic standpoint. We invested meaningfully in testing new products and improving existing products with the goal of strengthening our competitive positioning. We also took the additional time needed to refine our LOLA system, laying what we believe to be a strong foundation for future growth and efficiency. That work pushed back rollout by a few months, but we're encouraged by the results and remain confident in our ability to hit our long-term financial targets. I will provide more detail on new product initiatives later in my remarks.
FULL TRANSCRIPT
Continue the full translated transcript in StockNow.
Log in to unlock every statement, the English original, and speaker-by-speaker history.
Log in for the full transcriptCall participants
7 people spoke on this call — only 1 are shown here.
PARTICIPANT LIST
View participant details in StockNow.
Log in to see executives and analysts, their roles, and complete speaking history.
Log in to view all participantsKeep exploring