Credit losses - Net charge-offs as a percentage of total revenue and average receivables rose significantly year over year, indicating higher credit losses impacted results.
Higher expenses - Professional fees and other adjustments rose due to acquisition and corporate restructuring costs.
Analyst coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell".
The average consensus recommendation for the software peer group is "buy".
Wall Street's median 12-month price target for OppFi Inc is $15.00, about 59.6% above its August 7 closing price of $9.40.
The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 5 three months ago.
Q2 results and guidance
U.S. digital finance platform's Q2 revenue rose 1.9% year over year to a record for the second quarter.
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