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.”

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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 '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23
net income	50.86M -	-10.21M 120.07%	123.39M 1,309.03%	61.60M 50.08%	-45.10M 173.21%	47.40M 205.10%	-77.70M 263.92%	-179.95M 131.60%
depreciation and amortization	8.38M -	10.59M 26.39%	11.82M 11.65%	14.10M 19.27%	20.22M 43.39%	27.11M 34.09%	47.53M 75.32%	54.88M 15.47%
deferred income tax	-36.37M -	8.29M 122.80%	42.02M 406.85%	10.42M 75.21%	-14.46M 238.82%	16.45M 213.74%	16.45M 0%	-104.59M 735.79%
stock based compensation	4.50M -	5.71M 26.69%	6.77M 18.70%	19.18M 183.27%	19.49M 1.59%	18.86M 3.24%	27.62M 46.47%	18.59M 32.68%
change in working capital	7.26M -	18.37M 152.90%	-29.88M 262.65%	15.10M 150.54%	-34.30M 327.15%	-10.40M 69.68%	-80.70M 675.96%	-21.05M 73.92%
accounts receivables				-7.13M -	-4.01M 43.74%
inventory
accounts payables
other working capital				22.23M -	-30.29M 236.27%
other non cash items	79.27M -	106.37M 34.19%	-15.76M 114.81%	98.00M 721.89%	207.06M 111.29%	63.98M 69.10%	314.70M 391.87%	616.40M 95.87%
net cash provided by operating activities	113.90M -	139.12M 22.14%	138.37M 0.53%	218.40M 57.83%	152.90M 29.99%	163.40M 6.87%	247.90M 51.71%	384.28M 55.01%
investments in property plant and equipment	-14.20M -	-12.02M 15.33%	-17.94M 49.27%	-26.20M 46.01%	-26.60M 1.53%	-26.50M 0.38%	-48.90M 84.53%	-31.26M 36.07%
acquisitions net						-111.70M -		1.33B -
purchases of investments								-1.58B -
sales maturities of investments							249.27M -	4.10M 98.36%
other investing activites	-295.56M -	-331.37M 12.11%	-453.48M 36.85%	-471.50M 3.97%	43M 109.12%	-746.60M 1,836.28%	-1.37B 83.75%	-1.53M 99.89%
net cash used for investing activites	-309.76M -	-343.39M 10.86%	-471.43M 37.29%	-497.70M 5.57%	16.40M 103.30%	-884.80M 5,495.12%	-1.17B 32.40%	-277.70M 76.30%
debt repayment	-364.28M -	-561.40M 54.11%	-974.88M 73.65%	-169.30M 82.63%	-644M 280.39%	-2.02B 214.01%	-2.29B 13.29%	-101.69M 95.56%
common stock issued				61.60M -		73.18M -	73.18M 0%
common stock repurchased					-2M -			-2.70M -
dividends paid
other financing activites	586.20M -	792.09M 35.12%	1.34B 69.55%	394M 70.66%	509.20M 29.24%	2.69B 429.21%	3.15B 16.98%	1K 100.00%
net cash used provided by financing activities	221.91M -	230.69M 3.95%	368.07M 59.55%	286.30M 22.22%	-136.80M 147.78%	745.70M 645.10%	934.50M 25.32%	-104.39M 111.17%
effect of forex changes on cash				-100K -		100K -	-100K 200%	-100K 0%
net change in cash	26.06M -	26.42M 1.39%	35.02M 32.56%	6.90M 80.30%	32.50M 371.01%	24.40M 24.92%	10.80M 55.74%	2.20M 79.64%
cash at beginning of period	41.68M -	67.74M 62.51%	94.16M 39.00%	129.20M 37.22%	136.10M 5.34%	168.60M 23.88%	193M 14.47%	203.82M 5.60%
cash at end of period	67.74M -	94.16M 39.00%	129.18M 37.19%	136.10M 5.36%	168.60M 23.88%	193M 14.47%	203.80M 5.60%	206.02M 1.09%
operating cash flow	113.90M -	139.12M 22.14%	138.37M 0.53%	218.40M 57.83%	152.90M 29.99%	163.40M 6.87%	247.90M 51.71%	384.28M 55.01%
capital expenditure	-14.20M -	-12.02M 15.33%	-17.94M 49.27%	-26.20M 46.01%	-26.60M 1.53%	-26.50M 0.38%	-48.90M 84.53%	-31.26M 36.07%
free cash flow	99.70M -	127.10M 27.47%	120.43M 5.25%	192.20M 59.59%	126.30M 34.29%	136.90M 8.39%	199M 45.36%	353.02M 77.40%

NASDAQ:OPRT

Oportun

Last Close

2.95

08/11 21:00

Market Cap

92.53M

Beta: 1.65

Volume Today

202.25K

Avg: 491.34K

PE Ratio

−0.87

PFCF: 0.34

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