Oportun Financial Corp
For the period ended Dec 31, 2023. Filed Mar 15, 2024.
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FY2023 · Filed Mar 15, 2024
OPRT$11.65+0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flow
(in thousands)
| Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities | ||
| Net loss | $(179,951) | $(77,744) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Depreciation and amortization | 54,885 | 47,533 |
| Goodwill impairment | — | 108,472 |
| Fair value adjustment, net | 596,839 | 218,842 |
| Origination fees for loans receivable at fair value, net | (23,360) | (26,845) |
| Gain on loan sales | (8,481) | (5,703) |
| Stock-based compensation expense | 18,593 | 27,620 |
| Other, net | (53,195) | 30,336 |
| Originations of loans sold and held for sale | (56,603) | (52,742) |
| Proceeds from sale of loans | 65,088 | 58,844 |
| Changes in operating assets and liabilities | (21,050) | (80,738) |
| Net cash provided by operating activities | 392,765 | 247,875 |
| Cash flows from investing activities | ||
| Originations and purchases of loans held for investment | (1,580,134) | (2,762,828) |
| Proceeds from loan sales originated as held for investment | 4,055 | 249,271 |
| Repayments of loan principal | 1,322,601 | 1,396,896 |
| Capitalization of system development costs | (31,261) | (48,892) |
| Other, net | (1,442) | (5,995) |
| Net cash used in investing activities | (286,181) | (1,171,548) |
| Cash flows from financing activities | ||
| Borrowings under secured financing | 245,700 | 1,972,000 |
| Repayments of secured financing | (274,751) | (2,050,000) |
| Borrowings under asset-backed notes at fair value | — | 1,262,059 |
| Repayments of asset-backed notes at fair value | (707,619) | (232,675) |
| Borrowings under asset-backed borrowings at amortized cost | 626,405 | — |
| Repayments of asset-backed borrowings at amortized cost | (33,615) | — |
| Borrowings under acquisition and corporate financing | 73,355 | — |
| Repayments of acquisition and corporate financing | (28,442) | — |
| Payments of deferred financing costs | (2,719) | (8,189) |
| Net payments related to stock-based activities | (2,699) | (8,665) |
| Net cash provided by (used in) financing activities | (104,385) | 934,530 |
| Net increase in cash and cash equivalents and restricted cash | 2,199 | 10,857 |
| Cash and cash equivalents and restricted cash, beginning of period | 203,817 | 192,960 |
| Cash and cash equivalents and restricted cash, end of period | $206,016 | $203,817 |
| Supplemental disclosure of cash flow information | ||
| Cash and cash equivalents | $91,187 | $98,817 |
| Restricted cash | 114,829 | 105,000 |
| Total cash and cash equivalents and restricted cash | $206,016 | $203,817 |
| Cash paid for income taxes, net of refunds | $(1,860) | $(3,457) |
| Cash paid for interest | $183,973 | $85,775 |
| Cash paid for amounts included in the measurement of operating lease liabilities | $14,070 | $15,696 |
| Supplemental disclosures of non-cash investing and financing activities | ||
| Right of use assets obtained in exchange for operating lease obligations | $1,835 | $4,161 |
| Non-cash investment in capitalized assets | $(305) | $2,672 |
| Non-cash financing activities | $17,807 | $1,550 |
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