Oportun Financial Corporation provides financial services. It offers personal loans, auto loans, and credit cards. The company serves customers online and over-the-phone, as well as through retail locations. It operates in 24 states in the United States, which include Arkansas, Delaware, Indiana, Kentucky, Mississippi, Montana, North Dakota, New Hampshire, Oregon, South Carolina, South Dakota, and Virginia. Oportun Financial Corporation was founded in 2005 and is headquartered in San Carlos, California.

Oportun Financial Corporation

Oportun (Nasdaq: OPRT) is a mission-driven fintech that puts that puts its 2.1 million members' financial goals within reach. With intelligent borrowing, savings, and budgeting capabilities, Oportun empowers members with the confidence to build a better financial future. Since inception, Oportun has provided more than $17.2 billion in responsible and affordable credit, saved its members more than $2.4 billion in interest and fees, and helped its members save an average of more than $1,800 annually.

Castlelake

Neuberger Berman

WebBank

Fidelity

Fidelity Management and Research Company

Madrone Capital Partners

Core Innovation Capital

Adam Roddriguez

Greylock

Oportun

Proud of our Director of Data Security, Carlos Carlos, who was interviewed by Amazon Web Services (AWS) about how we are leveraging AWS Macie to reduce risks to our member’s sensitive data. Special recognition to our dedicated Data Security team for their unwavering commitment to ensuring the highest standards of data protection.

https://lnkd.in/gij68Jzp

Among BadCredit.org’s “10 Most Innovative Savings Products for 2023,” we are proud to report that the Oportun app was named the “#1 Savings Product for Spenders.” According to the reviewers:

“The app makes saving as effortless as possible by working within your financial limits and recommending strategies to increase your results...Along the way, you can count on the Oportun app to encourage you and celebrate your success. It’s almost like you have a friend standing by to hold you accountable, and everybody needs that.”

https://lnkd.in/gZnxsbSw

Yesterday was the conclusion of Hispanic Heritage Month (HHM) and we want to thank our hOLA ERG who organized a series of educational and engaging virtual and in-person activities to honor and celebrate the history, culture, and contributions of the U.S. Latino community.

Some of the celebration highlights included a conversation with Tina Fernandez, fellow at Harvard Advanced Leadership Initiative, on Latinidad, a fireside chat on purpose-driven leadership with our CEO, Raul Vazquez, and a “Cafecito” (Spanish-language coffee chat) with Gonzalo Palacio, our Chief Marketing Officer. Additionally, our team members were able to engage in a meaningful dialogue on the “Growing Latino Economic Power” with Lyanne Alfaro, founder of Moneda Moves.

Many thanks to our team members who joined in on this celebration and participated in our guacamole recipe challenge during our in-person socials in our San Carlos and Frisco offices!

In her own words, Tushara Bharathi Bharati, a Sr. Validation Analyst, tells us what it has been like to develop her career and strike the right balance in her life while helping Oportun to better serve its members and financially-inclusive mission.

Oportun is committed to positively impacting the communities in which we live and serve. Last month, along with more than 300 of our colleagues around the world, we again put words into action through our annual Oportun Volunteer Week. For the 5th year running, we committed a theme of “Greener Together” wherein most of our projects were focused on promoting sustainability, ecological health, and environmental stewardship through volunteerism.

Across the United States, India, and Mexico, we participated in more than 25 virtual and in-person projects that positively impacted thousands of lives globally. We are also grateful to our partner HandsOn Bay Area for helping us bridge to service projects in our own communities.

We appreciate the work everyone has done on this journey to solve the most pressing challenges in our communities, environmental or otherwise, and to pave a better path for this and our future generations.

Category Leader: Thrilled to report that Bankrate placed the Oportun app at #1 on a list of the “8 best money savings apps of 2023,” going on to say that Oportun is “Best for: Outsourcing savings decisions.” In our own words, that means Oportun does all the hard math, budgeting, and money transferring that present the sort of daily obstacles that inhibit many people from having adequate savings when they most need it. The net result is that the average Oportun Savings member has effortlessly set aside more than $1,800 in savings annually, even as Bankrate also reports that more than half of Americans do not have enough savings to cover an unplanned expense of $1,000. This is what impact at scale can look like.

https://lnkd.in/dV7FERrU

We are proud to announce that the San Francisco Chronicle has named Oportun a Winner of the Greater Bay Area Top Workplaces 2023 Award. 

This award is particularly meaningful, as the list is based solely on employee feedback gathered through a third-party survey administered by employee engagement technology partner Energage LLC.

As Energage CEO, Eric Rubino put it “Earning a Top Workplaces award is a badge of honor for companies, especially because it comes authentically from their employees.”

https://lnkd.in/gQXA8mWM

This week Oportun reported strong Q2 earnings. We had record revenue in tandem with an improving credit loss outlook and our lowest quarterly operating expenses since 2021. We also surpassed 2 million members for the first time and closed two new whole loan flow sale agreements to fund future growth.

We are grateful for the millions of Oportun members who trust us with their financial health. Thank you to the entire Oportun team for driving these impressive results.

https://lnkd.in/gRY9-g-w
 
[This post includes forward-looking statements. Please see our full earnings presentation (link above) for a discussion on forward-looking statements, including factors that could cause actual results to differ from such forward-looking statements, and more information, including a reconciliation of non-GAAP financial measures to the most comparable GAAP measures.]

“This transaction highlights continued strong investor demand for Oportun’s high-quality personal loan assets,” said Jonathan Coblentz, Chief Financial Officer of Oportun. “Through this strategic relationship with Castlelake, we are also demonstrating our ability to access diverse sources of capital to drive continued profitable growth in our business.”

Working remotely without feeling isolated requires connection and engagement with your colleagues. The teams working in our India Development Center have built a high-functioning remote work culture that has enabled Oportun to significantly expand and scale our financially-inclusive mission. Hear from Praga, one of our Sr. Software Engineers, describe what it’s like to work for Oportun in India.

	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23
account payables	8.18M -	10.64M 30.09%	9.76M 8.30%	5.25M 46.22%	11.62M 121.36%	18.11M 55.91%	5.29M 70.81%
accumulated other comprehensive income loss	-142K -	-132K 7.04%	-200K 51.52%	-300K 50%
cash and cash equivalents	48.35M -	70.47M 45.76%	72.20M 2.45%	136.20M 88.64%	131M 3.82%	98.80M 24.58%	91.19M 7.71%
cash and short term investments	48.35M -	70.47M 45.76%	72.20M 2.45%	136.20M 88.64%	131M 3.82%	98.82M 24.57%	91.19M 7.72%
common stock	3K -	3K 0%	6K 100%	6K 0%	6K 0%	7K 16.67%	7K 0%
deferred revenue
deferred revenue non current	1.49M -	2.21M 47.99%
deferrred tax liabilities non current		13.93M -	24.90M 78.82%	10.56M 57.60%	28.42M 169.24%	30.57M 7.57%
goodwill					104M -	108.47M 4.30%
goodwill and intangible assets	5.66M -	5.49M 2.90%	18.34M 233.92%	27.42M 49.51%	235.20M 757.80%	139.80M 40.56%	114.73M 17.93%
intangible assets	5.66M -	5.49M 2.90%	18.34M 233.92%	27.42M 49.51%	131.20M 378.50%	139.80M 6.55%	114.73M 17.93%
inventory							-99.97M -
long term debt	779.66M -	1.22B 57.12%	1.54B 25.86%	1.22B 21.06%	1.81B 49.01%	2.65B 46.04%	2.91B 9.88%
long term investments			67.28M -				9.31M -
net debt	885.64M -	1.24B 39.99%	1.53B 23.44%	1.33B 13.28%	2.08B 56.45%	2.87B 38.09%	2.85B 0.70%
net receivables	16.26M -	43.54M 167.73%	17.20M 60.50%	15.40M 10.47%	20.90M 35.71%	31.80M 52.15%	8.78M 72.39%
other assets	1.13B -	1.60B 41.65%	2.04B 27.95%	1.78B 12.74%	2.52B 41.37%	3.28B 30.10%
other current assets							230.56M -
other current liabilities	-162.51M -	-95.93M 40.97%	-70.66M 26.34%	-251.65M 256.14%	-405.52M 61.14%	-339.17M 16.36%	55.70M 116.42%
other liabilities	54.65M -	56.35M 3.10%	75.84M 34.60%	63.59M 16.15%	95.36M 49.95%	3.05B 3,102.56%
other non current assets	-22.82M -	-28.69M 25.72%	-68.84M 139.97%	-74.22M 7.82%	-273.60M 268.64%	-57.57M 78.96%	2.98B 5,278.44%
other non current liabilities	-781.15M -	-1.24B 58.88%	-1.57B 26.23%	-1.23B 21.64%	-1.84B 50.05%	-2.66B 44.60%	26.90M 101.01%
othertotal stockholders equity	19.61M -	36.11M 84.17%	412.23M 1,041.50%	430.19M 4.36%	519.99M 20.87%	541.49M 4.13%	578.25M 6.79%
preferred stock	267.99M -	257.90M 3.76%	63K 99.98%
property plant equipment net	17.16M -	23.20M 35.15%	50.50M 117.72%	46.80M 7.33%	38.40M 17.95%	30.40M 20.83%	28.10M 7.58%
retained earnings	-70.73M -	52.66M 174.45%	76.70M 45.65%	36.40M 52.54%	83.80M 130.22%	6.10M 92.72%	-173.85M 2,949.98%
short term debt	154.33M -	85.29M 44.73%	60.90M 28.60%	246.40M 304.60%	393.90M 59.86%	317.60M 19.37%	12.79M 95.97%
short term investments						17K -
tax assets			1.56M -				48.12M -
tax payables	1.11M -	1.61M 45.05%	4.23M 162.92%	6.21M 46.66%	8.37M 34.86%	9.57M 14.31%	7.14M 25.40%
total assets	1.22B -	1.74B 43.20%	2.20B 26.55%	2.01B 8.76%	2.95B 46.66%	3.61B 22.64%	3.41B 5.58%
total current assets	64.61M -	114.02M 76.46%	89.40M 21.59%	151.60M 69.57%	151.90M 0.20%	221.03M 45.51%	230.56M 4.31%
total current liabilities	162.51M -	95.93M 40.97%	70.66M 26.34%	251.65M 256.14%	405.52M 61.14%	-3.46M 100.85%	73.78M 2,234.16%
total debt	933.99M -	1.31B 40.29%	1.60B 22.31%	1.46B 8.69%	2.21B 50.84%	2.97B 34.37%	2.94B 0.93%
total investments			67.28M -			17K -	9.31M 54,647.06%
total liabilities	998.31M -	1.39B 39.57%	1.71B 22.94%	1.54B 9.94%	2.34B 51.85%	3.07B 30.87%	3.01B 1.80%
total liabilities and stockholders equity	1.22B -	1.74B 43.20%	2.20B 26.55%	2.01B 8.76%	2.95B 46.66%	3.61B 22.64%	3.42B 5.49%
total non current assets	22.82M -	28.69M 25.72%	68.84M 139.97%	74.22M 7.82%	273.60M 268.64%	112.63M 58.83%	3.18B 2,724.51%
total non current liabilities	781.15M -	1.24B 58.88%	1.57B 26.23%	1.23B 21.64%	1.84B 50.05%	15.70M 99.15%	2.94B 18,612.21%
total stockholders equity	216.73M -	346.55M 59.90%	488.80M 41.05%	466.30M 4.60%	603.80M 29.49%	547.60M 9.31%	404.40M 26.15%

NASDAQ:OPRT

Oportun

Last Close

3.04

30/08 20:00

Market Cap

92.53M

Beta: 1.65

Volume Today

71.17K

Avg: 491.34K

PE Ratio

−0.87

PFCF: 0.34

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