Oportun Financial Corp
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 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
Condensed Consolidated Statements of Cash Flow
Condensed Consolidated Statements of Cash Flow (Unaudited)
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities | ||
| Net loss | $(87,420) | $(138,127) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Depreciation and amortization | 39,677 | 41,102 |
| Fair value adjustment, net | 384,554 | 458,319 |
| Origination fees for loans receivable at fair value, net | (12,610) | (19,348) |
| Gain on loan sales | (4,266) | (6,140) |
| Stock-based compensation expense | 10,141 | 13,709 |
| Other, net | (19,980) | (41,344) |
| Originations of loans sold and held for sale | (82,984) | (41,562) |
| Proceeds from sale of loans | 87,297 | 47,128 |
| Changes in operating assets and liabilities | (12,332) | (27,283) |
| Net cash provided by operating activities | 302,077 | 286,454 |
| Cash flows from investing activities | ||
| Originations and purchases of loans held for investment | (1,104,309) | (1,179,886) |
| Proceeds from loan sales originated as held for investment | 2,840 | 2,758 |
| Repayments of loan principal | 977,891 | 1,014,147 |
| Capitalization of system development costs | (13,129) | (25,180) |
| Other, net | (555) | (1,207) |
| Net cash used in investing activities | (137,262) | (189,368) |
| Cash flows from financing activities | ||
| Borrowings under secured financing | 278,266 | 185,100 |
| Repayments of secured financing | (440,494) | (80,581) |
| Repayments of asset-backed notes at fair value | (456,923) | (505,778) |
| Borrowings under asset-backed borrowings at amortized cost | 767,313 | 257,639 |
| Repayments of asset-backed borrowings at amortized cost | (231,580) | (9,839) |
| Borrowings under acquisition and corporate financing | — | 73,355 |
| Repayments of acquisition and corporate financing | (51,442) | (17,275) |
| Payments of deferred financing costs | (7,162) | (1,550) |
| Net payments related to stock-based activities | (272) | (2,329) |
| Net cash used in financing activities | (142,294) | (101,258) |
| Net increase (decrease) in cash and cash equivalents and restricted cash | 22,521 | (4,172) |
| Cash and cash equivalents and restricted cash, beginning of period | 206,016 | 203,817 |
| Cash and cash equivalents and restricted cash, end of period | $228,537 | $199,645 |
| Supplemental disclosure of cash flow information | ||
| Cash and cash equivalents | $71,838 | $81,886 |
| Restricted cash | 156,699 | 117,759 |
| Total cash and cash equivalents and restricted cash | $228,537 | $199,645 |
| Cash paid for income taxes, net of refunds | $556 | $1,420 |
| Cash paid for interest | $160,492 | $126,724 |
| Cash paid for amounts included in the measurement of operating lease liabilities | $9,601 | $10,772 |
| Supplemental disclosures of non-cash investing and financing activities | ||
| Right of use assets obtained in exchange for operating lease obligations | $(5,589) | $1,382 |
| Non-cash investments in capitalized assets | $1,108 | $100 |
| Non-cash financing activities | $29,144 | $19,431 |
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