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SEC filingOppFi Inc. WT (OPFI) reported strong FY 2025 results with net revenue of $381.2M, up 18.6% YoY from $321.5M in 2024, driven by interest on finance receivables rising 13.5% to $591.8M and other revenue increasing 11.5% to $5.3M. Total expenses declined 5.5% to $214.5M, primarily due to lower interest expense ($39.4M, down 11.9%) and depreciation ($5.2M, down 46.4%), boosting income from operations 76.3% to $166.7M. Net income surged 74.4% to $146.2M, with net income attributable to OppFi Inc. at $26.3M (basic/diluted EPS $0.99 vs. $0.36 prior year). Balance sheet strengthened with total assets at $754.1M (up from $641.2M), finance receivables at fair value $546.2M, and total stockholders’ equity $308.9M. Operating cash flow hit $401.3M, supporting net cash increase of $5.0M to $93.3M. Key drivers included 12.2% higher net originations ($899.3M) and improved credit performance (net charge-offs 49.4% of average receivables vs. 51.4%). Forward-looking, OppFi focuses on scaling OppLoans, enhancing machine learning models, and expanding via bank partnerships amid regulatory and economic risks.
OppFi Inc. delivered robust FY 2025 performance with net revenue of $381.2M, up 18.6% from $321.5M in 2024, fueled by 13.5% growth in interest on finance receivables to $591.8M. Change in fair value of finance receivables was -$215.9M, up 5.6% YoY in magnitude. Total expenses fell 5.5% to $214.5M, driven by lower interest expense ($39.4M, -11.9%) and depreciation ($5.2M, -46.4%). Income from operations soared 76.3% to $166.7M. Net income reached $146.2M (+74.4% YoY), with OppFi-attributable net income $26.3M (EPS $0.99 vs. $0.36). Total assets grew to $754.1M, supported by finance receivables at $546.2M.
Revenue totaled $597.0M (+13.5% YoY), with interest on finance receivables at $591.8M (+13.5%) and other revenue $5.3M (+11.5%). Net revenue $381.2M reflects -$215.9M fair value change. Growth tied to 12.2% higher net originations ($899.3M vs. $801.5M) and 16.0% increase in ending receivables ($493.1M). Average yield rose to 133.5% from 131.4%. No segment breakdowns disclosed; operates as single reportable segment focused on OppLoans via bank partnerships in 40 states.
Operating margin improved significantly to 43.8% from 29.4%, due to expense leverage. Salaries stable at $60.7M (15.9% of net revenue), direct marketing $50.9M (13.4%). Net charge-offs as % of average receivables fell to 49.4% from 51.4%, aiding profitability. Income before taxes $156.1M (+77.3% YoY), tax expense $9.9M. Equity method income from Bitty $5.0M contributed positively.
Operating cash flow $401.3M, driven by $146.2M net income and $215.9M fair value change. Investing used $307.8M (net $1.28B originations offset by $989.3M repayments). Financing used $88.5M (member distributions $58.5M, treasury $15.5M, dividend $6.4M). Cash/restricted cash $93.3M. Senior debt $321.4M; total liabilities $445.2M, equity $308.9M (OppFi equity $58.5M, noncontrolling $250.4M). VIE assets $498.1M collateralize $324.7M liabilities.
Management highlights scaling OppLoans, Model 6.1 rollout in H2 2026 for risk/pricing precision, LOLA platform for AI enhancements. Growth via multi-channel marketing (80.6% partner-sourced), financial education (OppU/Zogo). Risks include regulatory scrutiny (true lender challenges, CFL appeal), economic downturns untested on models, bank partner concentration (FinWise 31.3%, FEB 26.3%, CCB 42.3% of originations). Focus on compliance, customer NPS 78, 93.7% automated decisions.