BUZZ-OppFi drops after slashing 2026 revenue, profit forecasts
OPFI•Stock performance
Including the session's move, the stock is down 31.5% year to date.
Shares slump after outlook cut
Shares of digital finance platform OppFi OPFI.N slump 18% to $7.16 in early trading.
On Monday after markets closed, the company lowered its total revenue forecast to $600 million-$625 million from $650 million-$675 million and its adjusted net income forecast to $115 million-$130 million from $153 million-$160 million for full-year 2026.
Quarterly results missed estimates
OppFi reported second-quarter adjusted earnings per share of 33 cents, below analysts' estimates of 45 cents per share.
Analyst commentary on credit tightening
An analyst at Citizens said, "Credit tightening was not directly a consequence of credit performance but rather a response to competitive pressures."
"We understand that OPFI’s core short-term installment lending product, even with lower risk-based pricing, is losing more share against longer-term products and lines of credit with smaller monthly payments as borrowers are prioritizing monthly cost."
