Oportun Financial Corporation(NASDAQ:OPRT) 
Oportun Financial Corporation provides financial services in the United States. It offers personal loans, auto loans, and credit cards. The company serves customers online and over-the-phone, as well as through retail locations. Oportun Financial Corporation was founded in 2005 and is headquartered ...
Website: https://oportun.com/
Founded: 2005
IPO Price: $15 (Sep 26, 2019)
Full Time Employees: 2,663
CEO: Raul Vazquez
Sector: Financial Services
Industry: Credit Services
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At a glance:
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Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 |
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revenue | ||||||||||||||||||||||||||
yoy | ||||||||||||||||||||||||||
qoq | ||||||||||||||||||||||||||
interest income | 215,665,000 | 232,380,000 | 222,340,000 | 218,281,000 | 220,221,000 | 233,461,000 | 230,044,000 | 231,373,000 | 230,590,000 | 242,156,000 | 243,258,000 | 240,463,000 | 237,619,000 | 244,107,000 | 232,115,000 | 192,237,000 | 174,615,000 | 145,444,000 | 128,589,000 | 127,191,000 | 129,941,000 | 128,739,000 | 136,086,000 | 150,700,000 | 148,348,000 | 139,272,000 |
non-interest income | 13,099,000 | 15,367,000 | 16,348,000 | 16,065,000 | 15,683,000 | 17,485,000 | 19,907,000 | 19,023,000 | 19,892,000 | 20,468,000 | 24,962,000 | 26,100,000 | 21,893,000 | 17,840,000 | 17,961,000 | 22,483,000 | 19,516,000 | 13,640,000 | 9,665,000 | 8,122,000 | 10,891,000 | 8,028,000 | 6,621,000 | 12,728,000 | 16,996,000 | 14,608,000 |
total revenue | 228,764,000 | 247,747,000 | 238,688,000 | 234,346,000 | 235,904,000 | 250,946,000 | 249,951,000 | 250,396,000 | 250,482,000 | 262,624,000 | 268,220,000 | 266,563,000 | 259,512,000 | 261,947,000 | 250,076,000 | 214,720,000 | 194,131,000 | 159,084,000 | 138,254,000 | 135,313,000 | 140,832,000 | 136,767,000 | 142,707,000 | 163,428,000 | 165,344,000 | 153,880,000 |
less: | ||||||||||||||||||||||||||
interest expense | 47,979,000 | 57,942,000 | 56,620,000 | 59,538,000 | 57,403,000 | 73,700,000 | 55,749,000 | 54,244,000 | 54,465,000 | 52,004,000 | 46,965,000 | 41,448,000 | 38,997,000 | 35,594,000 | 26,671,000 | 13,677,000 | 11,428,000 | 10,574,000 | 12,163,000 | 13,504,000 | 13,489,000 | 13,408,000 | 15,110,000 | 16,361,000 | 15,795,000 | 15,499,000 |
net decrease in fair value | -85,894,000 | -99,398,000 | -77,018,000 | -70,257,000 | -72,672,000 | -83,859,000 | -131,585,000 | -136,119,000 | -116,850,000 | -138,520,000 | -136,119,000 | -106,490,000 | -82,907,000 | -76,422,000 | -22,175,000 | -8,987,000 | -5,902,000 | |||||||||
net revenue | 94,891,000 | 90,407,000 | 105,050,000 | 104,551,000 | 105,829,000 | 93,387,000 | 62,617,000 | 60,033,000 | 79,167,000 | 72,100,000 | 85,136,000 | 118,625,000 | 4,805,000 | 143,446,000 | 146,983,000 | 205,014,000 | 160,528,000 | 139,523,000 | 120,189,000 | 110,241,000 | 114,621,000 | 93,726,000 | 46,115,000 | 80,598,000 | 131,607,000 | 114,468,000 |
operating expenses: | ||||||||||||||||||||||||||
technology and facilities | 34,140,000 | 33,975,000 | 35,380,000 | 36,649,000 | 36,437,000 | 37,886,000 | 40,561,000 | 40,625,000 | 47,105,000 | 54,753,000 | 52,663,000 | 55,116,000 | 56,874,000 | 58,030,000 | 56,113,000 | 49,189,000 | 39,290,000 | 34,226,000 | 33,124,000 | 32,924,000 | 35,868,000 | 31,641,000 | 31,512,000 | 30,774,000 | 29,132,000 | 26,772,000 |
sales and marketing | 15,949,000 | 16,135,000 | 16,502,000 | 18,077,000 | 19,882,000 | 17,309,000 | 17,403,000 | 16,258,000 | 16,003,000 | 18,055,000 | 18,852,000 | 19,195,000 | 19,182,000 | 21,343,000 | 21,781,000 | 34,541,000 | 37,139,000 | 32,102,000 | 23,748,000 | 23,893,000 | 23,854,000 | 20,634,000 | 20,060,000 | 24,827,000 | 28,069,000 | 24,717,000 |
personnel | 25,528,000 | 19,722,000 | 19,015,000 | 20,247,000 | 20,965,000 | 19,704,000 | 21,038,000 | 21,908,000 | 24,516,000 | 25,116,000 | 28,647,000 | 30,762,000 | 37,318,000 | 40,336,000 | 39,959,000 | 35,926,000 | 31,421,000 | 29,039,000 | 28,546,000 | 26,827,000 | 26,521,000 | 26,662,000 | 27,681,000 | 25,582,000 | 24,233,000 | 28,637,000 |
outsourcing and professional fees | 8,704,000 | 7,677,000 | 9,405,000 | 9,701,000 | 8,012,000 | 8,143,000 | 10,088,000 | 8,375,000 | 10,241,000 | 11,217,000 | 10,482,000 | 9,900,000 | 13,802,000 | 17,518,000 | 18,620,000 | 14,327,000 | 17,169,000 | 13,348,000 | 14,789,000 | 12,625,000 | 10,835,000 | 11,491,000 | 11,123,000 | 13,618,000 | 14,446,000 | 16,041,000 |
general, administrative and other | 7,009,000 | 6,333,000 | 10,504,000 | 9,769,000 | 7,374,000 | 6,434,000 | 12,991,000 | 22,016,000 | 11,777,000 | 20,238,000 | 11,862,000 | 21,123,000 | 19,162,000 | 14,140,000 | 14,401,000 | 13,361,000 | 14,618,000 | 2,686,000 | 10,179,000 | 9,997,000 | 2,880,000 | 11,138,000 | 2,640,000 | 3,813,000 | 4,576,000 | 3,886,000 |
total operating expenses | 91,330,000 | 83,842,000 | 90,806,000 | 94,443,000 | 92,670,000 | 89,476,000 | 102,081,000 | 109,182,000 | 109,642,000 | 129,379,000 | 122,506,000 | 136,096,000 | 146,338,000 | 151,367,000 | 259,346,000 | 147,344,000 | 139,637,000 | 111,401,000 | 110,386,000 | 106,266,000 | 99,958,000 | 101,566,000 | 93,016,000 | 98,614,000 | 100,456,000 | 100,053,000 |
income before taxes | 3,561,000 | 6,565,000 | 14,244,000 | 10,108,000 | 13,159,000 | 3,911,000 | -39,464,000 | -49,149,000 | -30,475,000 | -57,279,000 | -37,370,000 | -17,471,000 | -141,533,000 | -7,921,000 | -112,363,000 | 57,670,000 | 20,891,000 | 28,122,000 | 9,803,000 | 3,975,000 | 14,663,000 | -7,840,000 | -46,901,000 | -18,016,000 | 31,151,000 | 14,415,000 |
income tax expense | 1,216,000 | 3,161,000 | 9,046,000 | 3,231,000 | 3,392,000 | -15,455,000 | -16,232,000 | -2,572,000 | -39,443,000 | 502,000 | -6,536,000 | 12,007,000 | 6,725,000 | 5,143,000 | 2,553,000 | 956,000 | 6,150,000 | -1,794,000 | -12,653,000 | -4,715,000 | 7,988,000 | 4,386,000 | ||||
net income | 2,345,000 | 3,404,000 | 5,198,000 | 6,877,000 | 9,767,000 | 8,738,000 | -29,956,000 | -31,025,000 | -26,439,000 | -41,824,000 | -21,138,000 | -14,899,000 | -102,090,000 | -8,423,000 | -105,827,000 | 45,663,000 | 14,166,000 | 22,979,000 | 7,250,000 | 3,019,000 | 8,513,000 | -6,046,000 | -34,248,000 | -13,301,000 | 23,163,000 | 10,029,000 |
yoy | -75.99% | -61.04% | -117.35% | -122.17% | -136.94% | -120.89% | 41.72% | 108.24% | -74.10% | 396.55% | -80.03% | -132.63% | -820.67% | -136.66% | -1559.68% | 1412.52% | 66.40% | -480.07% | -121.17% | -122.70% | -63.25% | -160.29% | ||||
qoq | -31.11% | -34.51% | -24.41% | -29.59% | 11.78% | -129.17% | -3.45% | 17.35% | -36.79% | 97.86% | 41.88% | -85.41% | 1112.04% | -92.04% | -331.76% | 222.34% | -38.35% | 216.95% | 140.15% | -64.54% | -240.80% | -82.35% | 157.48% | -157.42% | 130.96% | |
net income margin % | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | -Infinity% | -Infinity% | -Infinity% | Infinity% | Infinity% |
net income attributable to common stockholders | 2,345,000 | 3,404,000 | 5,198,000 | 6,877,000 | 9,767,000 | -21,855,000 | -29,956,000 | -31,025,000 | -26,439,000 | -41,824,000 | -21,138,000 | -14,899,000 | -102,090,000 | -8,423,000 | -105,827,000 | 45,663,000 | 14,166,000 | 22,979,000 | 7,250,000 | 3,019,000 | 8,513,000 | -6,046,000 | -34,248,000 | -13,301,000 | -27,427,000 | |
share data: | ||||||||||||||||||||||||||
earnings per share: | ||||||||||||||||||||||||||
basic | 0.05 | 0.07 | 0.11 | 0.15 | 0.21 | 0.26 | -0.75 | -0.78 | -0.68 | -1.08 | -0.55 | -0.41 | -3 | -0.25 | -3.21 | 1.42 | 0.49 | 0.82 | 0.26 | 0.11 | 0.32 | -0.22 | -1.26 | -0.49 | -6.39 | |
diluted | 0.05 | 0.07 | 0.11 | 0.14 | 0.21 | 0.26 | -0.75 | -0.78 | -0.68 | -1.08 | -0.55 | -0.41 | -3 | -0.25 | -3.21 | 1.37 | 0.45 | 0.75 | 0.24 | 0.1 | 0.32 | -0.22 | -1.26 | -0.49 | -6.39 | |
weighted-average common shares outstanding: | ||||||||||||||||||||||||||
basic | 47,436,155 | 46,418,934 | 46,711,134 | 46,571,524 | 45,496,705 | 40,356,025 | 39,964,322 | 39,816,996 | 38,900,876 | 36,875,950 | 38,283,071 | 36,691,291 | 33,979,050 | 32,825,772 | 33,010,107 | 32,216,641 | 28,191,610 | 28,167,686 | 28,004,699 | 27,770,063 | 27,333,271 | 27,459,192 | 27,233,394 | 27,015,730 | 9,347,103 | 4,294,107 |
diluted | 48,498,763 | 47,858,631 | 48,310,110 | 47,893,172 | 47,037,799 | 40,356,025 | 39,964,322 | 39,816,996 | 38,900,876 | 36,875,950 | 38,283,071 | 36,691,291 | 33,979,050 | 32,825,772 | 33,010,107 | 33,323,134 | 30,323,194 | 30,503,773 | 30,050,847 | 29,620,034 | 27,333,271 | 27,459,192 | 27,233,394 | 27,015,730 | 10,761,852 | 4,294,107 |
income tax benefit | -4,827,000 | -9,508,000 | -18,124,000 | -4,036,000 | ||||||||||||||||||||||
goodwill impairment | 108,472,000 | |||||||||||||||||||||||||
net increase in fair value | -215,710,000 | 3,971,000 | -18,670,000 | -24,339,000 | ||||||||||||||||||||||
change in post-termination benefit obligation | 22,250 | 77,000 | 6,000 | 6,000 | 7,000 | 6,000 | 5,000 | -117,000 | ||||||||||||||||||
total comprehensive income | 8,334,250 | 23,056,000 | 7,256,000 | 3,025,000 | 8,520,000 | -6,040,000 | -34,243,000 | -13,418,000 | 23,169,000 | 10,037,000 | ||||||||||||||||
decrease in fair value | -11,568,000 | -44,396,000 | -29,633,000 | -81,482,000 | -66,469,000 | |||||||||||||||||||||
provision (release) for loan losses | -728,000 | -426,000 | ||||||||||||||||||||||||
change in post-termination benefit obligation, net of tax | -9,000 | 8,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 |
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assets | ||||||||||||||||||||||||||
cash and cash equivalents | 130,384,000 | 105,525,000 | 104,611,000 | 96,816,000 | 78,542,000 | 59,968,000 | 71,838,000 | 72,871,000 | 69,200,000 | 91,187,000 | 81,886,000 | 73,371,000 | 74,075,000 | 98,817,000 | 175,857,000 | 109,864,000 | 130,959,000 | 168,407,000 | 138,429,000 | 140,416,000 | 136,187,000 | 109,656,000 | 139,218,000 | 144,836,000 | 72,179,000 | 154,512,000 |
restricted cash | 79,470,000 | 93,409,000 | 119,345,000 | 131,406,000 | 152,431,000 | 154,657,000 | 156,699,000 | 163,765,000 | 127,353,000 | 114,829,000 | 117,759,000 | 128,964,000 | 127,846,000 | 105,000,000 | 96,350,000 | 60,694,000 | 62,001,000 | 55,348,000 | 219,540,000 | 42,765,000 | 32,403,000 | 53,824,000 | 58,742,000 | 61,258,000 | 63,962,000 | 65,907,000 |
loans receivable at fair value | 2,771,836,000 | 2,874,092,000 | 2,759,661,000 | 2,755,470,000 | 2,770,486,000 | 2,778,523,000 | 2,728,515,000 | 2,714,410,000 | 2,841,525,000 | 2,962,352,000 | 2,940,858,000 | 2,985,129,000 | 3,012,726,000 | 3,143,653,000 | 2,991,334,000 | 2,450,987,000 | 2,386,807,000 | 1,971,375,000 | 1,726,914,000 | 1,670,251,000 | 1,696,526,000 | 1,605,388,000 | 1,635,684,000 | 1,760,481,000 | 1,882,088,000 | 1,681,889,000 |
capitalized software and other intangibles | 69,412,000 | 71,698,000 | 74,832,000 | 78,279,000 | 81,884,000 | 86,588,000 | 92,045,000 | 99,688,000 | 106,370,000 | 114,735,000 | 127,293,000 | 133,012,000 | 137,856,000 | 139,801,000 | 139,069,000 | 133,093,000 | 131,181,000 | |||||||||
right of use assets - operating | 10,486,000 | 9,441,000 | 9,621,000 | 9,718,000 | 9,324,000 | 9,775,000 | 9,666,000 | 9,947,000 | 18,915,000 | 21,105,000 | 23,186,000 | 26,515,000 | 28,708,000 | 30,448,000 | 32,080,000 | 36,689,000 | 38,403,000 | 34,952,000 | 35,968,000 | 40,323,000 | 46,820,000 | 48,762,000 | 48,253,000 | 50,973,000 | 50,503,000 | 39,170,000 |
other assets | 105,950,000 | 103,691,000 | 118,109,000 | 129,397,000 | 133,638,000 | 137,592,000 | 139,954,000 | 133,960,000 | 114,138,000 | 107,680,000 | 109,929,000 | 94,200,000 | 89,094,000 | 64,180,000 | 74,699,000 | 74,239,000 | 72,344,000 | 101,507,000 | 87,583,000 | 84,984,000 | 80,531,000 | 82,312,000 | 72,151,000 | 80,116,000 | 75,208,000 | 62,014,000 |
total assets | 3,167,538,000 | 3,257,856,000 | 3,186,179,000 | 3,201,086,000 | 3,226,305,000 | 3,227,103,000 | 3,251,298,000 | 3,250,361,000 | 3,277,501,000 | 3,411,888,000 | 3,429,932,000 | 3,472,043,000 | 3,502,057,000 | 3,613,695,000 | 3,539,994,000 | 2,992,551,000 | 2,946,625,000 | 2,347,881,000 | 2,221,483,000 | 1,992,061,000 | 2,009,051,000 | 1,917,523,000 | 1,974,622,000 | 2,117,320,000 | 2,201,874,000 | 2,092,587,000 |
liabilities and stockholders' equity | ||||||||||||||||||||||||||
liabilities | ||||||||||||||||||||||||||
secured financing | 212,465,000 | 199,384,000 | 161,947,000 | 331,081,000 | 445,495,000 | 535,469,000 | 125,393,000 | 156,436,000 | 72,106,000 | 289,951,000 | 423,166,000 | 486,453,000 | 403,225,000 | 317,568,000 | 365,147,000 | 473,311,000 | 393,889,000 | 525,471,000 | 64,806,000 | 246,385,000 | 191,180,000 | 96,175,000 | 279,064,000 | 60,910,000 | ||
asset-backed notes at fair value | 194,339,000 | 263,799,000 | 352,799,000 | 617,904,000 | 863,859,000 | 1,080,690,000 | 1,386,695,000 | 1,583,088,000 | 1,701,854,000 | 1,780,005,000 | 1,958,273,000 | 2,118,786,000 | 2,300,201,000 | 2,387,674,000 | 2,238,331,000 | 1,593,435,000 | 1,651,706,000 | 1,162,948,000 | 1,613,649,000 | 1,340,782,000 | 1,167,309,000 | 1,125,444,000 | 1,097,929,000 | 999,113,000 | 1,129,202,000 | 1,133,095,000 |
asset-backed borrowings at amortized cost | 2,154,405,000 | 2,192,649,000 | 2,040,076,000 | 1,605,597,000 | 1,281,274,000 | 984,333,000 | 1,109,370,000 | 836,893,000 | 787,524,000 | 581,468,000 | 244,421,000 | 25,600,000 | ||||||||||||||
corporate financing | 145,053,000 | 175,695,000 | 193,944,000 | 199,669,000 | ||||||||||||||||||||||
lease liabilities | 11,389,000 | 11,468,000 | 13,285,000 | 14,969,000 | 16,124,000 | 18,200,000 | 19,728,000 | 21,734,000 | 25,472,000 | 28,376,000 | 30,895,000 | 33,124,000 | 35,669,000 | 37,947,000 | 40,149,000 | 44,959,000 | 47,699,000 | 43,498,000 | 45,682,000 | 47,025,000 | 49,684,000 | 51,692,000 | 51,221,000 | 53,825,000 | 53,357,000 | 41,844,000 |
other liabilities | 53,604,000 | 56,811,000 | 58,523,000 | 61,602,000 | 53,785,000 | 50,851,000 | 66,859,000 | 67,712,000 | 65,160,000 | 68,938,000 | 63,711,000 | 78,175,000 | 74,500,000 | 100,028,000 | 105,416,000 | 127,041,000 | 135,358,000 | 104,545,000 | 77,820,000 | 58,867,000 | 72,525,000 | 69,376,000 | 44,053,000 | 44,250,000 | 52,306,000 | 48,149,000 |
total liabilities | 2,771,255,000 | 2,867,774,000 | 2,802,325,000 | 2,825,097,000 | 2,860,206,000 | 2,873,294,000 | 2,923,742,000 | 2,896,245,000 | 2,895,529,000 | 3,007,484,000 | 2,988,569,000 | 3,013,645,000 | 3,045,911,000 | 3,066,096,000 | 2,990,881,000 | 2,342,615,000 | 2,342,744,000 | 1,836,462,000 | 1,737,151,000 | 1,520,068,000 | 1,542,684,000 | 1,464,502,000 | 1,520,290,000 | 1,633,779,000 | 1,713,108,000 | 1,631,470,000 |
stockholders' equity | ||||||||||||||||||||||||||
common stock | 8,000 | 8,000 | 8,000 | 8,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 |
accumulated deficit | -224,940,000 | -227,285,000 | -230,689,000 | -235,887,000 | -242,764,000 | -252,531,000 | -261,269,000 | -231,313,000 | ||||||||||||||||||
treasury stock | -6,309,000 | -6,309,000 | -6,309,000 | -6,309,000 | -6,309,000 | -6,309,000 | -6,309,000 | -6,309,000 | -6,309,000 | -6,309,000 | -6,309,000 | -6,309,000 | -6,309,000 | -6,309,000 | -6,309,000 | -6,309,000 | -6,309,000 | -6,309,000 | -6,309,000 | -6,309,000 | -6,309,000 | -6,309,000 | -6,309,000 | -6,119,000 | -6,119,000 | -8,496,000 |
total stockholders’ equity | 396,283,000 | 390,082,000 | 383,854,000 | 375,989,000 | 366,099,000 | 353,809,000 | 327,556,000 | 354,116,000 | 381,972,000 | 404,404,000 | 441,363,000 | 458,398,000 | 456,146,000 | 547,599,000 | 549,113,000 | 649,936,000 | 603,881,000 | 511,419,000 | 484,332,000 | 471,993,000 | 466,367,000 | 453,021,000 | 454,332,000 | 483,541,000 | 488,766,000 | 461,117,000 |
total liabilities and stockholders' equity | 3,167,538,000 | 3,257,856,000 | 3,186,179,000 | 3,201,086,000 | 3,226,305,000 | 3,227,103,000 | 3,251,298,000 | 3,250,361,000 | 3,277,501,000 | 3,411,888,000 | 3,429,932,000 | 3,472,043,000 | 3,502,057,000 | 3,613,695,000 | 3,539,994,000 | 2,992,551,000 | 2,946,625,000 | 2,347,881,000 | 2,221,483,000 | 1,992,061,000 | 2,009,051,000 | 1,917,523,000 | 1,974,622,000 | 2,117,320,000 | 2,201,874,000 | 2,092,587,000 |
acquisition and corporate financing | 143,663,000 | 203,751,000 | 215,697,000 | 230,382,000 | 243,413,000 | 258,746,000 | 268,103,000 | 271,507,000 | 232,316,000 | 222,879,000 | 241,838,000 | |||||||||||||||
note 15 leases, commitments and contingencies | ||||||||||||||||||||||||||
credit cards receivable held for sale | 52,581,000 | 55,720,000 | ||||||||||||||||||||||||
retained deficit | -200,288,000 | |||||||||||||||||||||||||
retained earnings | -173,849,000 | -132,025,000 | -110,887,000 | -95,988,000 | 6,102,000 | 14,525,000 | 129,509,000 | 83,846,000 | 69,680,000 | 46,701,000 | 39,451,000 | 36,432,000 | 27,919,000 | 33,965,000 | 68,213,000 | 76,679,000 | 53,516,000 | |||||||||
interest and fees receivable | 29,021,000 | 30,852,000 | 31,752,000 | 31,796,000 | 30,605,000 | 22,823,000 | 20,916,000 | 16,292,000 | 13,049,000 | 13,322,000 | 15,426,000 | 16,535,000 | 20,206,000 | 18,254,000 | 17,185,000 | 14,366,000 | ||||||||||
goodwill | 104,162,000 | 104,014,000 | ||||||||||||||||||||||||
acquisition financing | 103,869,000 | 114,092,000 | ||||||||||||||||||||||||
accumulated other comprehensive loss | -172,000 | -249,000 | -255,000 | -261,000 | -268,000 | -274,000 | -279,000 | -162,000 | -168,000 | |||||||||||||||||
amount due to whole loan buyer | 8,588,000 | 6,781,000 | 26,810,000 | 31,119,000 | 33,259,000 | 33,354,000 | 30,100,000 | |||||||||||||||||||
loans receivable at amortized cost | 42,546,000 | 76,167,000 | ||||||||||||||||||||||||
less: | ||||||||||||||||||||||||||
unamortized deferred origination costs and fees | -103,000 | -264,000 | ||||||||||||||||||||||||
allowance for loan losses | -3,972,000 | -6,922,000 | ||||||||||||||||||||||||
loans held for sale | 1,158,000 | 1,046,000 | 368,000 | 141,000 | 715,000 | 4,186,000 | ||||||||||||||||||||
asset-backed notes at amortized cost | 199,793,000 | 199,602,000 | 359,111,000 | 358,753,000 | ||||||||||||||||||||||
common stock warrants | 63,000 | |||||||||||||||||||||||||
preferred stock, 0.0001 par value - 100,000,000 shares authorized at september 30, 2020 and december 31, 2019; 0 shares issued and outstanding at september 30, 2020 and december 31, 2019 | ||||||||||||||||||||||||||
preferred stock, additional paid-in capital | ||||||||||||||||||||||||||
preferred stock, 0.0001 par value - 100,000,000 shares authorized at june 30, 2020 and december 31, 2019; 0 shares issued and outstanding at june 30, 2020 and december 31, 2019 | ||||||||||||||||||||||||||
deferred tax assets | 1,261,000 | 1,563,000 | ||||||||||||||||||||||||
deferred tax liabilities | 24,666,000 | 24,868,000 | 19,529,000 | |||||||||||||||||||||||
preferred stock, 0.0001 par value - 100,000,000 shares authorized at march 31, 2020 and december 31, 2019; 0 shares issued and outstanding at march 31, 2020 and december 31, 2019 | ||||||||||||||||||||||||||
convertible preferred stock | ||||||||||||||||||||||||||
convertible preferred stock, additional paid-in capital | ||||||||||||||||||||||||||
preferred stock, 0.0001 par value - 100,000,000 and 0 shares authorized at december 31, 2019 and december 31, 2018; 0 shares issued and outstanding at december 31, 2019 and december 31, 2018, respectively | ||||||||||||||||||||||||||
convertible preferred and common stock warrants | 63,000 | |||||||||||||||||||||||||
deferred tax asset | 1,562,000 | |||||||||||||||||||||||||
preferred stock, 0.0001 par value - 100,000,000 and 16,550,904 shares authorized at september 30, 2019 (unaudited) and december 31, 2018; 0 and 14,043,977 shares issued and outstanding (liquidation preference of 0 and 261,343) at september 30, 2019 (unaudited) and december 31, 2018, respectively | ||||||||||||||||||||||||||
common and convertible preferred stock warrants | 63,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | ||||||||||||||||||||||
net income | 2,345,000 | 3,404,000 | 5,198,000 | 6,877,000 | 9,767,000 | -14,899,000 | -102,090,000 | -8,423,000 | 45,663,000 | 14,166,000 | 22,979,000 | 7,250,000 | 3,019,000 | 8,513,000 | -6,046,000 | -34,248,000 | -13,301,000 | 23,163,000 | ||||
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||||||||
depreciation and amortization | 9,000,000 | 9,469,000 | 10,160,000 | 10,715,000 | 11,068,000 | 13,006,000 | 13,198,000 | 13,783,000 | 13,944,000 | 13,769,000 | 13,389,000 | 12,909,000 | 10,697,000 | 6,722,000 | 5,689,000 | 7,744,000 | 6,957,000 | 5,342,000 | 5,117,000 | 5,103,000 | 4,658,000 | 4,443,000 |
fair value adjustment | 85,894,000 | 99,398,000 | 77,018,000 | 70,257,000 | 72,672,000 | 136,119,000 | 116,850,000 | 138,520,000 | 136,119,000 | 106,490,000 | 215,710,000 | 82,907,000 | -3,971,000 | 22,175,000 | 8,987,000 | 5,902,000 | 11,568,000 | 29,633,000 | 81,482,000 | 66,469,000 | ||
origination fees for loans receivable at fair value | -258,000 | -8,275,000 | -8,387,000 | -9,094,000 | -11,836,000 | -8,543,000 | -1,597,000 | -4,012,000 | -2,367,000 | -12,238,000 | -4,743,000 | -9,146,000 | -4,685,000 | -6,766,000 | -2,393,000 | -5,255,000 | -1,422,000 | -4,420,000 | -1,296,000 | 3,274,000 | 1,542,000 | -1,605,000 |
gain on loan sales | -1,394,000 | -1,193,000 | -1,468,000 | -1,479,000 | -1,500,000 | -2,107,000 | -1,501,000 | -2,341,000 | -2,447,000 | -2,341,000 | -1,352,000 | 5,000 | -5,715,000 | -9,667,000 | -7,328,000 | -5,321,000 | -4,434,000 | -6,902,000 | -3,882,000 | -1,992,000 | -7,532,000 | |
stock-based compensation expense | 4,143,000 | 2,659,000 | 2,488,000 | 2,708,000 | 2,831,000 | 2,942,000 | 3,982,000 | 4,884,000 | 4,362,000 | 4,469,000 | 4,878,000 | 6,868,000 | 6,773,000 | 4,315,000 | 4,088,000 | 5,366,000 | 5,088,000 | 5,171,000 | 5,194,000 | 4,972,000 | 4,151,000 | 4,005,000 |
other | 7,482,000 | 14,295,000 | 17,391,000 | 13,390,000 | 9,990,000 | -11,498,000 | -2,693,000 | -11,851,000 | -11,434,000 | 4,654,000 | -34,564,000 | -1,847,000 | 20,226,000 | 6,960,000 | 2,849,000 | 9,471,000 | 11,287,000 | 7,313,000 | 3,621,000 | 3,546,000 | 3,521,000 | 3,171,000 |
originations of loans sold and held for sale | -25,819,000 | -30,014,000 | -38,084,000 | -39,897,000 | -32,352,000 | -28,429,000 | -22,235,000 | -15,041,000 | -15,884,000 | -15,646,000 | -10,032,000 | -2,099,000 | -48,665,000 | -78,313,000 | -61,262,000 | -41,559,000 | -33,464,000 | -53,969,000 | -39,820,000 | -20,202,000 | -74,530,000 | -107,176,000 |
proceeds from sale of loans | 27,213,000 | 31,207,000 | 39,552,000 | 41,376,000 | 35,392,000 | 30,461,000 | 23,355,000 | 17,960,000 | 18,032,000 | 17,971,000 | 11,125,000 | 2,044,000 | 54,872,000 | 90,091,000 | 67,450,000 | 46,102,000 | 38,372,000 | 60,758,000 | 43,023,000 | 21,968,000 | 82,636,000 | 121,892,000 |
changes in operating assets and liabilities | -4,877,000 | -12,087,000 | -4,827,000 | 9,675,000 | 4,945,000 | 6,801,000 | -17,038,000 | |||||||||||||||
net cash from operating activities | 103,729,000 | 108,863,000 | 99,041,000 | 104,528,000 | 100,977,000 | 107,727,000 | 85,882,000 | 106,311,000 | 107,097,000 | 102,543,000 | 76,814,000 | 88,532,000 | 38,565,000 | 59,719,000 | 49,890,000 | 35,682,000 | 18,156,000 | 13,462,000 | 45,390,000 | 41,895,000 | 52,122,000 | 51,133,000 |
capital expenditures | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
free cash flows | 103,729,000 | 108,863,000 | 99,041,000 | 104,528,000 | 100,977,000 | 107,727,000 | 85,882,000 | 106,311,000 | 107,097,000 | 102,543,000 | 76,814,000 | 88,532,000 | 38,565,000 | 59,719,000 | 49,890,000 | 35,682,000 | 18,156,000 | 13,462,000 | 45,390,000 | 41,895,000 | 52,122,000 | 51,133,000 |
cash flows from investing activities | ||||||||||||||||||||||
originations and purchases of loans held for investment | -318,127,000 | -567,514,000 | -422,340,000 | -391,005,000 | -381,907,000 | -381,599,000 | -298,139,000 | |||||||||||||||
repayments of loan principal | 332,772,000 | 384,938,000 | 355,961,000 | 345,235,000 | 332,208,000 | 322,804,000 | 336,428,000 | 308,454,000 | 319,184,000 | 346,859,000 | 348,104,000 | 341,783,000 | 351,324,000 | 290,007,000 | 265,168,000 | 274,016,000 | 278,659,000 | 250,202,000 | 262,729,000 | 259,678,000 | 282,212,000 | 262,574,000 |
capitalization of system development costs | -6,510,000 | -6,202,000 | -6,117,000 | -6,433,000 | -5,578,000 | -5,254,000 | -3,097,000 | -6,081,000 | -6,449,000 | -6,988,000 | -11,743,000 | -12,068,000 | -10,641,000 | -7,969,000 | -6,376,000 | -6,481,000 | -5,651,000 | -5,280,000 | -5,366,000 | -5,665,000 | -5,461,000 | -5,614,000 |
net cash from investing activities | 7,982,000 | -189,233,000 | -72,630,000 | -52,342,000 | -55,520,000 | -63,439,000 | 36,461,000 | -96,813,000 | -85,347,000 | -64,373,000 | -39,648,000 | -255,671,000 | -122,496,000 | -568,045,000 | -259,590,000 | -66,138,000 | 8,987,000 | -102,990,000 | 25,795,000 | 132,922,000 | -39,348,000 | -197,717,000 |
cash flows from financing activities | ||||||||||||||||||||||
borrowings under secured financing | 76,700,000 | 237,063,000 | 210,520,000 | 265,088,000 | 325,441,000 | 60,600,000 | 13,800,000 | 83,400,000 | 87,900,000 | 284,950,000 | 699,000,000 | 396,260,000 | 745,535,000 | 55,000,000 | 179,000,000 | 0 | 235,000,000 | 62,000,000 | ||||
repayments of secured financing | -64,113,000 | -198,036,000 | -380,050,000 | -378,689,000 | -415,707,000 | -5,947,000 | -218,246,000 | -194,170,000 | -77,441,000 | -526,000 | -2,614,000 | -332,950,000 | -620,000,000 | -219,000,000 | -215,214,000 | -181,780,000 | -84,200,000 | -182,805,000 | -17,001,000 | |||
repayments of asset-backed notes at fair value | -70,890,000 | -91,000,000 | -269,670,000 | -249,326,000 | -224,715,000 | -120,677,000 | -105,273,000 | -201,841,000 | -175,372,000 | |||||||||||||
borrowings under asset-backed borrowings at amortized cost | 482,239,000 | 438,796,000 | 535,727,000 | 437,350,000 | 419,929,000 | 137,642,000 | 260,265,000 | 368,766,000 | 232,095,000 | |||||||||||||
repayments of asset-backed borrowings at amortized cost | -524,228,000 | -291,928,000 | -107,206,000 | -120,763,000 | -127,287,000 | -88,039,000 | -48,746,000 | -23,776,000 | ||||||||||||||
repayments of corporate financing | ||||||||||||||||||||||
payments of deferred financing costs | -34,000 | -2,046,000 | 0 | 0 | -2,427,000 | -1,169,000 | 0 | -775,000 | -775,000 | -1,686,000 | 0 | |||||||||||
net payments related to stock-based activities | -465,000 | -1,000 | 2,000 | 110,000 | -511,000 | 0 | -232,000 | -370,000 | -603,000 | -362,000 | -1,364,000 | -441,000 | -7,076,000 | 375,000 | -836,000 | -284,000 | -2,487,000 | -345,000 | -465,000 | 62,000 | -793,000 | 474,000 |
net cash from financing activities | -100,791,000 | 55,348,000 | -30,677,000 | -54,937,000 | -29,109,000 | -4,205,000 | -131,806,000 | -3,127,000 | -24,440,000 | -37,756,000 | -39,062,000 | 98,749,000 | 61,529,000 | 477,531,000 | 75,486,000 | 205,244,000 | -12,552,000 | 94,638,000 | -105,665,000 | -182,951,000 | 57,179,000 | 62,306,000 |
net increase in cash and cash equivalents and restricted cash | 10,920,000 | -25,022,000 | -4,266,000 | -2,751,000 | 16,348,000 | 6,371,000 | -68,390,000 | -22,402,000 | -30,795,000 | -134,214,000 | 174,788,000 | 14,591,000 | 5,110,000 | -34,480,000 | -8,134,000 | 69,953,000 | -84,278,000 | |||||
cash and cash equivalents and restricted cash, beginning of period | 198,934,000 | 0 | 0 | 0 | 214,625,000 | 0 | 206,016,000 | 0 | 0 | 0 | 203,817,000 | 0 | 192,960,000 | 0 | 0 | 0 | 168,590,000 | 0 | 0 | 0 | 136,141,000 | 0 |
cash and cash equivalents and restricted cash, end of period | 209,854,000 | -25,022,000 | -4,266,000 | -2,751,000 | 230,973,000 | 40,083,000 | 196,553,000 | 6,371,000 | -2,690,000 | 414,000 | 201,921,000 | -68,390,000 | 170,558,000 | -30,795,000 | -134,214,000 | 174,788,000 | 183,181,000 | 5,110,000 | -34,480,000 | -8,134,000 | 206,094,000 | -84,278,000 |
supplemental disclosure of cash flow information | ||||||||||||||||||||||
cash and cash equivalents | 130,384,000 | 914,000 | 7,795,000 | 18,274,000 | 78,542,000 | 3,671,000 | 69,200,000 | 9,301,000 | 8,515,000 | -704,000 | 74,075,000 | -77,040,000 | 109,864,000 | -37,448,000 | 29,978,000 | -1,987,000 | 140,416,000 | 26,531,000 | -29,562,000 | -5,618,000 | 144,836,000 | -82,333,000 |
restricted cash | 79,470,000 | -25,936,000 | -12,061,000 | -21,025,000 | 152,431,000 | 36,412,000 | 127,353,000 | -2,930,000 | -11,205,000 | 1,118,000 | 127,846,000 | 8,650,000 | 60,694,000 | 6,653,000 | -164,192,000 | 176,775,000 | 42,765,000 | -21,421,000 | -4,918,000 | -2,516,000 | 61,258,000 | -1,945,000 |
total cash and cash equivalents and restricted cash | 209,854,000 | -25,022,000 | -4,266,000 | -2,751,000 | 230,973,000 | 40,083,000 | 196,553,000 | 6,371,000 | -2,690,000 | 414,000 | 201,921,000 | -68,390,000 | 170,558,000 | -30,795,000 | -134,214,000 | 174,788,000 | 183,181,000 | 5,110,000 | -34,480,000 | -8,134,000 | 206,094,000 | -84,278,000 |
cash paid for income taxes, net of refunds | 512,000 | 1,067,000 | 386,000 | 1,078,000 | 317,000 | 1,506,000 | -680,000 | -3,280,000 | 249,000 | 864,000 | 307,000 | 487,000 | 328,000 | 1,836,000 | 239,000 | 1,569,000 | 240,000 | 386,000 | 1,723,000 | 265,000 | 455,000 | 147,000 |
cash paid for interest | 44,954,000 | 47,118,000 | 47,238,000 | 49,917,000 | 50,447,000 | 50,283,000 | 56,657,000 | 57,249,000 | 49,271,000 | 39,994,000 | 37,459,000 | 34,266,000 | 13,816,000 | 10,249,000 | 10,994,000 | 11,963,000 | 13,625,000 | |||||
cash paid for amounts included in the measurement of operating lease liabilities | 2,337,000 | 2,823,000 | 2,792,000 | 2,790,000 | 2,818,000 | 3,135,000 | 3,328,000 | 3,298,000 | 3,342,000 | 3,705,000 | 3,725,000 | 7,924,000 | 4,238,000 | 3,801,000 | 4,282,000 | 5,228,000 | 4,292,000 | 4,514,000 | 3,826,000 | 3,853,000 | 4,051,000 | 3,422,000 |
supplemental disclosures of non-cash investing and financing activities | ||||||||||||||||||||||
right of use assets obtained in exchange for operating lease obligations | 2,056,000 | 786,000 | 907,000 | 1,392,000 | 537,000 | -6,675,000 | 164,000 | 453,000 | -597,000 | 800,000 | 1,179,000 | 1,330,000 | 1,064,000 | 5,715,000 | 1,490,000 | 4,094,000 | 1,093,000 | 1,422,000 | 3,721,000 | 254,000 | 3,429,000 | 13,408,000 |
non-cash investments in capitalized assets | 143,000 | 89,000 | 205,000 | 173,000 | 197,000 | 62,000 | 739,000 | 607,000 | 636,000 | -1,143,000 | 565,000 | 1,154,000 | 181,000 | 625,000 | -78,000 | -133,000 | 702,000 | |||||
non-cash financing activities | 10,003,000 | 12,688,000 | 13,651,000 | 16,162,000 | 17,097,000 | 18,252,000 | -1,649,000 | -1,624,000 | 0 | 12,759,000 | 6,672,000 | -775,000 | -1,088,000 | |||||||||
proceeds from loan sales originated as held for investment | 847,000 | 1,393,000 | 1,297,000 | 1,105,000 | 612,000 | 1,041,000 | 1,328,000 | |||||||||||||||
borrowings under acquisition and corporate financing | 0 | 0 | 55,632,000 | 17,723,000 | ||||||||||||||||||
repayments of acquisition and corporate financing | -37,500,000 | -20,000,000 | -7,500,000 | -6,259,000 | -17,124,000 | -17,147,000 | -11,167,000 | -7,080,000 | 0 | -10,195,000 | ||||||||||||
net loss | -31,025,000 | -26,439,000 | -41,824,000 | |||||||||||||||||||
adjustments to reconcile net loss to net cash from operating activities: | ||||||||||||||||||||||
borrowings under asset-backed notes at fair value | ||||||||||||||||||||||
non-cash investment in capitalized assets | ||||||||||||||||||||||
borrowings allocated to warrants | 6,632,000 | |||||||||||||||||||||
net decrease in cash and cash equivalents and restricted cash | -9,463,000 | 414,000 | -1,896,000 | |||||||||||||||||||
goodwill impairment | 0 | |||||||||||||||||||||
changes in other assets and other liabilities | -12,090,000 | 314,000 | -15,507,000 | -36,630,000 | ||||||||||||||||||
originations of loans | -398,974,000 | -404,632,000 | -376,280,000 | -584,153,000 | -707,108,000 | -728,696,000 | -517,666,000 | -332,701,000 | -263,148,000 | -346,697,000 | -231,133,000 | -119,531,000 | -314,484,000 | -451,567,000 | ||||||||
repayments of asset-backed notes | -136,369,000 | -450,002,000 | -225,001,000 | -200,004,000 | -200,000,000 | 0 | -160,001,000 | |||||||||||||||
deferred tax provision | 2,449,000 | 5,518,000 | 4,446,000 | 4,038,000 | 449,000 | 7,489,000 | -22,503,000 | 101,000 | 5,337,000 | |||||||||||||
acquisition of digit, net of acquirer's cash received | ||||||||||||||||||||||
borrowings under asset-backed notes, acquisition and corporate financing | 294,298,000 | |||||||||||||||||||||
repayments of asset-backed notes, acquisition and corporate financing | -145,422,000 | |||||||||||||||||||||
net issuance of stock related to digit acquisition | ||||||||||||||||||||||
proceeds from structured loan sale | 245,019,000 | |||||||||||||||||||||
borrowings under asset-backed notes and acquisition financing | ||||||||||||||||||||||
repayments of asset-backed notes and acquisition financing | -10,395,000 | |||||||||||||||||||||
changes in operating assets and liabilities: | ||||||||||||||||||||||
interest and fee receivable | -5,360,000 | -3,773,000 | -281,000 | 1,183,000 | -332,000 | 1,550,000 | -3,241,000 | -1,987,000 | -3,721,000 | |||||||||||||
other assets | -5,689,000 | -10,437,000 | -2,461,000 | -5,326,000 | -1,684,000 | -13,195,000 | 10,771,000 | -5,818,000 | -24,345,000 | |||||||||||||
other liabilities | 22,578,000 | 15,313,000 | 4,354,000 | -20,518,000 | 530,000 | 18,311,000 | -4,895,000 | -7,693,000 | 16,019,000 | |||||||||||||
payments of secured financing | 0 | |||||||||||||||||||||
repayment of asset-backed notes | ||||||||||||||||||||||
amount due to whole loan buyer | 2,210,000 | -76,000 | 1,808,000 | -20,029,000 | -4,309,000 | -2,140,000 | -95,000 | 3,254,000 | ||||||||||||||
purchase of fixed assets | -716,000 | -972,000 | -873,000 | -1,215,000 | -435,000 | -1,560,000 | -1,615,000 | -3,110,000 | ||||||||||||||
borrowings under asset-backed notes | -211,000 | 495,743,000 | 371,719,000 | 0 | ||||||||||||||||||
repayments of capital lease obligations | 0 | -3,000 | -26,000 | -168,000 | ||||||||||||||||||
net decrease in fair value | ||||||||||||||||||||||
provision (release) for loan losses | -728,000 | |||||||||||||||||||||
proceeds from initial public offering, net of offering costs | 0 | |||||||||||||||||||||
additional common stock issued to series g shareholders upon initial public offering | 0 | |||||||||||||||||||||
cash paid for interest and prepayment fees | 13,185,000 | 14,656,000 | 16,378,000 | |||||||||||||||||||
secured non-recourse affiliate note settled with common stock | ||||||||||||||||||||||
gain on loans sale | ||||||||||||||||||||||
system development costs included in accounts payable and accrued liabilities | ||||||||||||||||||||||
purchases of fixed assets included in accounts payable and accrued liabilities |