Oportun Financial Corp (NAS:OPRT)
$ 3.74 0.08 (2.19%) Market Cap: 134.55 Mil Enterprise Value: 2.92 Bil PE Ratio: 0 PB Ratio: 0.41 GF Score: 59/100
Back to the Transcripts List

Q3 2024 Oportun Financial Corp Earnings Call Transcript

Nov 12, 2024 / 10:00 PM GMT
Release Date Price: $3.11 (-2.81%)

Key Points

Positve
  • Oportun Financial Corp (OPRT) reported lower charge-offs with an annualized net charge-off rate of 11.9%, which was better than the lower end of their guidance range.
  • The company achieved higher profitability, generating $31 million of adjusted EBITDA, more than doubling last year's level.
  • Operating expenses were reduced by 17% year over year, with expectations to further reduce GAAP operating expenses to $97.5 million or less by the fourth quarter.
  • Oportun Financial Corp (OPRT) successfully closed the sale of its credit card portfolio, which is expected to be accretive to adjusted EBITDA by $2 million this quarter and $11 million for the full year 2025.
  • The company executed an agreement for a $235 million four-year senior term loan facility, enhancing operational flexibility and strengthening the balance sheet.
Negative
  • Total revenue declined by 7% year over year, driven by a 7% decline in the average daily principal balance.
  • Interest expense increased by $9 million year over year, reflecting a higher cost of debt in the current rate environment.
  • The company recorded a GAAP net loss of $30 million for the quarter, driven by a $35 million non-cash mark on ABS notes.
  • Originations were virtually flat year over year, indicating challenges in achieving growth despite efforts to derisk the business.
  • The average loan size decreased by 18% year over year, which could impact revenue generation potential.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

OPRT.OQ - Oportun Financial Corp
Q3 2024 Oportun Financial Corp Earnings Call
Nov 12, 2024 / 10:00PM GMT

=====================
Presentation
--------------------------------------------------------------------------------
Unidentified_1 [1]
--------------------------------------------------------------------------------
Greetings and welcome to the opportunity. Financial third quarter, 2024 earnings call and webcast.

At this time. All participants are in listen-only mode. If anyone should require operator assistance, please press star zero on your telephone keypad. A question and answer session will follow the formal presentation.

You may be placed in the question queue at any time by pressing star one on your telephone keypad. As a reminder, this conference is being recorded. It's not my pleasure to turn the call over to Dorian Hair investor relations. Please go ahead Dorian.

--------------------------------------------------------------------------------
Unidentified_2 [2]
----------------------------------
Already have an account? Log in
Get the full story
Start 7-Day Free Trial
Access to All Earning Calls and Stock Analysis
30-Year Financial on one screen
All-in-one Stock Screener with unlimited filters
Customizable Stock Dashboard
Real Time Insider Trading Transactions
8,000+ Institutional investors’ 13F holdings
Powerful Excel Add-in and Google sheets Add-on
All data downloadable
Quick customer support
And much more...
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent
4.6 out of 5 Trustpilot
Research Tools
All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Discussion Board
Product
Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App 中文
Education
Financial Glossary Tutorials FAQ Schedule Free Session Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation
Company
About GuruFocus Career Contact Us Advertise Site Map Term of Use Privacy Policy Referral Program Partner Program
Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey
Follow Us
download GuruFocus on Apple store download GuruFocus on Google Play
Disclaimers
GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.
© 2004-2025 GuruFocus.com, LLC. All Rights Reserved.