OPFI-WT · OppFi Inc.

OppFi's Q1 2026 results reflect strong top-line growth driven by higher receivables balances, with total revenue reaching a record $151.9 million, up 8.3% year over year. Net income more than doubled to $54.0 million, benefiting from a lower tax rate and favorable comparisons, while net income attributable to OppFi swung from a loss of $11.4 million to a gain of $28.4 million. However, adjusted net income, which normalizes for tax and non-operating items, declined 11.2% to $30.0 million, as net charge-offs as a percentage of total revenue increased to 42.5% from 34.6% a year ago, reflecting elevated defaults. Management attributed the revenue growth to the strength of core operations and highlighted 2026 as a pivotal investment year, particularly with the planned acquisition of BNCCORP, which is expected to provide a national bank charter and enhance regulatory oversight. The company also announced a new $40 million share repurchase program, replacing the prior program, signaling confidence in long-term value. Operating expenses as a percentage of revenue improved slightly to 34.2%, demonstrating disciplined cost management. The earnings presentation reiterated the company's focus on financial inclusion and its large addressable market of underbanked consumers.