Enova International, Inc. reported a significant increase in financial performance for the first quarter of 2026, with total revenue reaching $875.1 million, a 17.4% increase from $745.5 million in the same period last year. The company's net revenue also rose to $529.0 million, up from $426.2 million, reflecting a net revenue margin of 60.4%, compared to 57.2% in the prior year. Net income for the quarter was $91.1 million, a 24.9% increase from $72.9 million, resulting in diluted earnings per share of $3.46, up from $2.69.
The growth in revenue was primarily driven by a 37.1% increase in revenue from small business loans, which totaled $417.5 million, and a 3.5% increase in revenue from consumer loans, which amounted to $445.8 million. The fair value of the company's loans and finance receivables increased to $5.87 billion, up from $4.57 billion a year earlier, with the outstanding principal balance rising to $5.1 billion from $3.96 billion. The company attributed these changes to higher levels of originations leading to increased loan balances across both consumer and small business portfolios.
In terms of operational developments, Enova has been actively expanding its market presence and product offerings. The company is in the process of acquiring Grasshopper Bancorp, Inc. for approximately $369 million, which is expected to enhance its banking capabilities and regulatory compliance. This acquisition is anticipated to close in the second half of 2026, pending regulatory approvals. Additionally, Enova has been focusing on optimizing its marketing strategies, resulting in increased marketing expenses to $189.4 million, reflecting the company's commitment to capturing market demand.
As of March 31, 2026, Enova's total assets stood at $6.88 billion, with total liabilities of $5.48 billion, leading to stockholders' equity of $1.40 billion. The company reported a cash and cash equivalents balance of $96.1 million, alongside $325.2 million in restricted cash. Enova's liquidity position remains strong, with sufficient cash flows from operations and available borrowing capacity to support its growth initiatives. The company expects to continue leveraging its technology and analytics capabilities to enhance customer acquisition and retention, while navigating regulatory changes and market conditions.
Looking ahead, Enova remains optimistic about its growth trajectory, driven by its diversified product offerings and strategic acquisitions. The company plans to continue expanding its services in both the U.S. and Brazil, while adapting to evolving regulatory landscapes. Enova's management believes that its innovative technology and customer-centric approach will position it well for future success in the online financial services market.
About Enova International, Inc.
Enova International is a technology-driven financial services company specializing in online lending and small business financing. It offers consumer installment loans, lines of credit, and small business loans through proprietary analytics, machine learning, and scalable platforms. Serving underbanked individuals and small businesses primarily in the U.S. and Brazil, Enova emphasizes customer convenience, rapid funding, regulatory compliance, and innovative digital solutions.
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