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.

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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
revenue	248.75M -	324.56M 30.47%	473.56M 45.91%	442.40M 6.58%	335.10M 24.25%	530.40M 58.28%	640.70M 20.80%	1.06B 64.96%
cost of revenue								19K -
gross profit	248.75M -	324.56M 30.47%	473.56M 45.91%	442.40M 6.58%	335.10M 24.25%	530.40M 58.28%	640.70M 20.80%	1.06B 64.96%
selling and marketing expenses	39.84M -	58.06M 45.71%	77.62M 33.68%	97.20M 25.23%	89.40M 8.02%	116.90M 30.76%	110M 5.90%	75.28M 31.56%
general and administrative expenses	48.63M -	64.04M 31.70%	74.12M 15.73%	106M 43.01%	126.90M 19.72%	153.30M 20.80%	213.70M 39.40%	194.23M 9.11%
selling general and administrative expenses	88.47M -	122.10M 38.01%	151.74M 24.27%	203.20M 33.92%	216.30M 6.45%	270.20M 24.92%	323.70M 19.80%	269.51M 16.74%
research and development expenses				4.90M -	10.80M 120.41%	16.90M 56.48%	34.20M 102.37%
other expenses	-292.39M -	-408.19M 39.60%	-543.86M 33.24%	-561.20M 3.19%	-609.50M 8.61%	-737.80M 21.05%	479.44M 164.98%	-407.59M 185.01%
cost and expenses	-203.92M -	-286.09M 40.29%	-256.55M 10.33%	-358M 39.55%	-393.20M 9.83%	-467.60M 18.92%	715.94M 253.11%	1.31B 83.06%
operating expenses	-203.92M -	-286.09M 40.29%	-256.55M 10.33%	-358M 39.55%	-393.20M 9.83%	-467.60M 18.92%	715.94M 253.11%	407.59M 43.07%
interest expense	28.77M -	36.40M 26.50%	46.92M 28.90%	60.50M 28.95%	58.40M 3.47%	47.70M 18.32%	93M 94.97%	179.41M 92.92%
ebitda	53.21M -	49.06M 7.80%	228.84M 366.47%	98.50M 56.96%	-37.88M 138.46%	89.91M 337.36%	65.29M 27.38%	-253.70M 488.56%
operating income	44.83M -	38.47M 14.19%	217.01M 464.14%	84.40M 61.11%	-58.10M 168.84%	62.80M 208.09%	17.76M 71.72%	-253.70M 1,528.49%
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%
total other income expenses net	-28.77M -	-36.40M 26.50%	-46.92M 28.90%	84.43M 279.95%	-58.09M 168.81%	62.79M 208.09%	-93.06M 248.21%	-253.65M 172.57%
income before tax	16.06M -	2.07M 87.11%	170.09M 8,121.12%	84.40M 50.38%	-58.10M 168.84%	62.80M 208.09%	-75.30M 219.90%	-253.65M 236.86%
income tax expense	-34.80M -	12.28M 135.27%	46.70M 280.46%	22.80M 51.18%	-13M 157.02%	15.40M 218.46%	2.50M 83.77%	-73.70M 3,048.08%
net income	50.86M -	-10.21M 120.07%	123.39M 1,309.03%	61.60M 50.08%	-45.10M 173.21%	47.41M 205.13%	-77.80M 264.09%	-179.95M 131.30%
weighted average shs out	21.98M -	22.02M 0.15%	22.02M 0%	9.35M 57.54%	27.33M 192.43%	28.19M 3.14%	32.83M 16.44%	36.88M 12.34%
weighted average shs out dil	23.11M -	22.06M 4.54%	22.06M 0%	10.76M 51.22%	27.33M 153.98%	30.32M 10.94%	32.83M 8.25%	36.88M 12.34%
eps	2.31 -	-0.46 119.91%	5.60 1,317.39%	0.46 91.79%	-1.65 458.70%	1.68 201.82%	-2.37 241.07%	-4.88 105.91%
epsdiluted	2.20 -	-0.46 120.91%	5.59 1,315.22%	0.40 92.84%	-1.65 512.50%	1.56 194.55%	-2.37 251.92%	-4.88 105.91%

NASDAQ:OPRT

Oportun

Last Close

3.28

26/07 16:43

Market Cap

92.53M

Beta: 1.65

Volume Today

26.20K

Avg: 491.34K

PE Ratio

−0.87

PFCF: 0.34

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