OppFi Logs 8.3% Q1 Revenue Growth to $151.9M, Unveils $40M Buyback
OPFI•Total revenue increased 8.3% to $151.9 million in Q1 2026, marking a company record and lifting net income 165% to $54.0 million. Adjusted net income dipped 11.2% to $30.0 million, while the board approved a new $40 million share repurchase program.
1. Record Q1 Revenue and Net Income
OppFi reported first-quarter total revenue of $151.9 million, up 8.3% year-over-year to a corporate high, while GAAP net income surged 165% to $54.0 million. Adjusted net income fell 11.2% to $30.0 million, reflecting elevated investment and restructuring of the corporate structure post-quarter.
2. Credit Metrics and Originations
Total net originations reached $175.98 million, down from $189.17 million a year earlier, with retained originations at $151.45 million. Ending receivables rose to $444.92 million, while net charge-offs jumped to 42.5% of revenue and average yield eased to 130.7%, indicating tighter credit conditions.
3. $40M Share Repurchase Program
The board authorized a $40 million share buyback, citing confidence in long-term growth prospects and belief that the stock trades below intrinsic value. The program underscores management’s strategy to return capital and enhance shareholder value given upcoming regulatory unification under OCC and Federal Reserve oversight.
