OppFi Inc. reported its financial results for the first quarter of 2025, revealing a total revenue of $140.3 million, a 10.1% increase from $127.3 million in the same period last year. The company’s net income for the quarter was $20.4 million, up from $10.1 million in the prior year, marking a significant improvement in profitability. However, the net loss attributable to OppFi Inc. was $11.4 million, compared to a net income of $5.5 million in the first quarter of 2024, primarily due to changes in the fair value of warrant liabilities.
The company experienced a notable increase in net originations, which rose by 15.7% to $189.2 million, driven by higher demand from returning customers and enhancements to its credit model. Ending receivables also increased by 9.5% to $406.6 million, reflecting a higher balance at the start of the year and improved retention of net originations. The average yield on loans increased to 135.8%, up from 129.5% a year earlier, attributed to a decrease in delinquent loans and pricing initiatives.
Operationally, OppFi has focused on efficiency, resulting in a 16.6% reduction in total expenses, which fell to $48.3 million from $57.9 million in the previous year. This decrease was driven by lower salary expenses and interest costs, as well as reduced professional fees. The company’s auto-approval rate for loans improved to 78.6%, up from 73.4%, indicating enhanced efficiency in its loan processing.
Looking ahead, OppFi maintains a positive outlook, supported by its strong liquidity position, with $58.0 million in unrestricted cash and $237.0 million in undrawn debt capacity as of March 31, 2025. The company believes that its current cash reserves and operational income will be sufficient to meet its liquidity needs for at least the next 12 months. However, it acknowledges that future capital requirements may necessitate additional financing, which could impact its financial condition if not secured on favorable terms.
About OppFi Inc.
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