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OPFI-WT

OppFi Inc. WT

OPFI-WT

OppFi Inc. WT • NYSE
$1.34 ▲ 12.06% (+0.14)
Market Cap $590.99 M
52w High $1.82
52w Low $1.12
Dividend Yield 0%
P/E 0
Volume 20.18K
Outstanding Shares 441.04M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $155.089M ▲ $82.052M ▲ $41.635M ▲ 26.846% ▲ $45.73 ▲ $100.11M ▲
Q2-2025 $142.443M ▲ $70.242M ▼ $-20.78M ▼ -14.588% ▼ $-0.78 ▼ $88.507M ▼
Q1-2025 $140.268M ▲ $73.751M ▼ $-11.372M ▼ -8.107% ▼ $-0.48 ▼ $93.71M ▲
Q4-2024 $135.723M ▼ $85.574M ▲ $-5.609M ▼ -4.133% ▼ $-0.26 ▼ $81.696M ▼
Q3-2024 $136.593M $76.413M $4.264M 3.122% $0.21 $82.797M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $45.45M ▲ $720.615M ▲ $443.361M ▼ $49.423M ▲
Q2-2025 $45.227M ▼ $673.375M ▲ $455.67M ▲ $13.351M ▼
Q1-2025 $57.954M ▼ $640.072M ▼ $403.308M ▼ $22.55M ▼
Q4-2024 $61.344M ▲ $641.171M ▲ $406.958M ▲ $32.774M ▼
Q3-2024 $44.838M $619.266M $398.96M $34.888M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $75.933M ▲ $105.124M ▲ $-102.858M ▼ $-5.338M ▲ $-3.072M ▲ $99.938M ▲
Q2-2025 $11.48M ▼ $95.617M ▲ $-81.32M ▼ $-26.8M ▲ $-12.503M ▼ $90.977M ▲
Q1-2025 $20.39M ▲ $83.74M ▼ $-34.241M ▲ $-47.019M ▼ $2.48M ▼ $79.35M ▼
Q4-2024 $13.973M ▼ $94.507M ▲ $-72.835M ▲ $-7.617M ▼ $14.055M ▲ $90.104M ▲
Q3-2024 $61.261M $77.567M $-93.263M $9.092M $-6.604M $73.681M

Revenue by Products

Product Q2-2025Q3-2025
Reportable Segment
Reportable Segment
 $100.00M ▲$100.00M ▲

Five-Year Company Overview

Income Statement

Income Statement OppFi’s income statement shows a business that has grown steadily and become more efficient, but with only modest profitability so far. Revenue has climbed each year, and gross profit has kept pace, which suggests the core lending and fee engine is scaling reasonably well. Operating income has shifted from roughly breakeven a few years ago to clearly positive more recently, indicating better cost control and improved underwriting economics. However, net income remains thin and somewhat uneven over time, implying that credit costs, funding costs, and overhead can still swing results. The pattern suggests a company that has moved beyond early-stage losses and is now consistently generating operating profits, but where bottom-line earnings are still vulnerable to credit cycles, regulation, and execution missteps. Overall, the trend is positive, but the margin of safety on earnings remains fairly narrow.

Balance Sheet

Balance Sheet The balance sheet points to a lender that has grown its asset base steadily while relying meaningfully on debt financing. Total assets have expanded over the period, consistent with a growing loan book and platform. Cash balances have improved but are still modest relative to the overall size of the business, which means liquidity needs careful management. Debt levels are significant and have risen alongside the business, while equity is relatively thin and only recently turned clearly positive after a period of being barely above, or even below, zero. This mix tells you the company is leveraged and does not have a large capital cushion, which can amplify both upside and downside in a stressed environment. In short, the balance sheet supports growth, but it also increases sensitivity to credit losses, funding costs, and regulatory changes.

Cash Flow

Cash Flow Cash flow is a relative bright spot. OppFi has produced solid positive cash from operations year after year, and free cash flow has been consistently positive as well. Capital spending is low, which is typical for an asset-light, technology-driven lender, so most of the cash generated by the business is not being consumed by heavy physical investment. This pattern suggests that, despite thin accounting profits, the underlying cash engine is healthy and fairly predictable, as long as credit performance remains under control. Strong operating and free cash flow also give management some flexibility to invest in technology, product expansion, and risk management without constantly needing fresh external capital. The key risk is that a severe downturn or spike in defaults could pressure this cash flow profile.

Competitive Edge

Competitive Edge OppFi operates in a specialized and controversial niche: non-prime consumer lending. Its competitive position rests on serving customers that traditional banks often avoid, using a technology-heavy approach. The company leans on proprietary AI underwriting, a digital-first experience, and a partnership model with banks that originate the loans. This structure helps it operate across many states and navigate a patchwork of rules. The combination of fast approvals, tailored products, and high reported customer satisfaction gives OppFi a tangible edge versus traditional payday lenders and some legacy finance companies. At the same time, the space is crowded with other fintechs, and the “rent-a-bank” approach can attract regulatory scrutiny. The moat appears to be built on data, underwriting models, and customer experience, but it sits in a segment where legal, reputational, and political risks are structurally high.

Innovation and R&D

Innovation and R&D Innovation is a core part of OppFi’s story. The company’s AI-based underwriting platform, including its latest model iterations, is designed to better separate good risks from bad within an inherently risky borrower pool. High automation in approvals helps lower operating costs and improve customer convenience, while tweaks to the models aim to keep credit losses in check even as volumes grow. On top of this, OppFi is rolling out a new loan origination and management system (LOLA), which should make it easier to launch products, refine pricing, and improve the user experience. The product set itself is evolving beyond a single loan type to include installment loans, payroll-linked loans, and a credit card focused on credit building, plus early steps into small-business lending through a partner. Overall, the company appears to be investing meaningfully in technology and product design rather than in physical infrastructure, which aligns with a scalable fintech model. The upside is faster innovation and better risk tools; the risk is execution—if the models or platforms fail to perform as expected, credit costs could rise quickly.

Summary

Putting it all together, OppFi looks like a growing, technology-driven lender that has moved into sustainable operating profitability, with strong cash generation but a relatively thin capital base. The business benefits from a focused niche, proprietary AI underwriting, and a partnership structure that helps it reach non-prime borrowers nationwide. Its product set and technology roadmap suggest continued innovation and attempts to diversify revenue. On the other hand, the company is exposed to meaningful risks: leverage on the balance sheet, reliance on non-prime borrowers, and a regulatory environment that can shift abruptly for high-cost lending models. Earnings are positive but not yet robust, leaving less room for error if credit conditions worsen. For holders of OPFI-related securities, the key dynamics to watch are credit performance, regulatory developments, and the real-world impact of its AI and platform investments on both growth and loan losses over time.