OppFi, Inc. (NYSE: OPFI) has announced a remarkable second quarter for 2025, with record revenues and adjusted net income, underscoring the company's strong financial performance and operational efficiency. According to the updated report by Stonegate Capital Partners, OppFi reported revenue, adjusted net income, and adjusted EPS of $142.4M, $39.4M, and $0.45, respectively. These figures not only surpass consensus estimates but also highlight a significant year-over-year growth, with net revenue margin expanding by 206 basis points to 70.4%.
The company's performance was driven by a 12.8% increase in total revenue year-over-year, reaching $142.4M, complemented by higher receivables and portfolio yield. Despite a 58.5% decrease in net income to $11.5M, primarily due to a non-cash warrant revaluation, adjusted net income saw a 59.0% increase to $39.4M, setting a new quarterly record. Adjusted EPS also rose to $0.45 from $0.29 in the prior-year period, with the adjusted net income margin expanding by 810 basis points to 27.7%.
OppFi's liquidity and balance sheet remain robust, with $78.3M in cash and restricted cash at the end of 2Q25. The company has a total funding capacity of $603.3M, including $219.1M in undrawn debt. A highlight of the quarter was the generation of $64.0M in free cash flow during the first half of 2025, enabling continued investment in growth and a $28.1M special dividend paid in 2Q25.
Originations saw a 14% year-over-year increase to $233.9M, driven by strong refinancing activity and increased demand from returning customers. The auto-approval rate improved to 80%, reflecting enhancements in automation and risk stratification through OppFi’s Model 6 platform. Credit quality also improved, with the net charge-off rate declining to 31.9% of total revenue, down 60 basis points from the previous year.
In light of these strong results, OppFi has raised its FY25 revenue guidance to $578–$605M and adjusted net income guidance to $125–$130M. The company's valuation, based on a P/E multiple range of 9.0x to 11.0x, suggests a promising outlook for investors. For more details on OppFi's performance and future prospects, visit https://www.oppfi.com.
