Oportun Financial Corp
For the period ended Mar 31, 2025. Filed May 9, 2025.
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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.
Mar 31, 2025 · Filed May 9, 2025
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Key Financial and Operating Metrics
We monitor and evaluate the following key metrics in order to measure our current performance, develop and refine our growth strategies, and make strategic decisions.
| As of or for the Three Months Ended March 31, | ||
|---|---|---|
| (in thousands of dollars) | 2025 | 2024 |
| Key Financial and Operating Metrics | ||
| Aggregate Originations | $469,396 | $338,216 |
| Portfolio Yield | 33.0% | 32.5% |
| 30+ Day Delinquency Rate | 4.7% | 5.2% |
| Annualized Net Charge-Off Rate | 12.2% | 12.0% |
| Other Metrics | ||
| Managed Principal Balance at End of Period | $2,954,967 | $3,027,508 |
| Owned Principal Balance at End of Period | $2,659,446 | $2,752,389 |
| Average Daily Principal Balance | $2,705,218 | $2,851,657 |
See “Glossary” at the end of Part II of this report for formulas and definitions of our key performance metrics.
Aggregate Originations
Aggregate Originations increased to $469.4 million for the three months ended March 31, 2025 from $338.2 million for the three months ended March 31,2024, representing a 38.8% increase. The increase was primarily driven by additional marketing efforts to new members resulting in anincrease in the number of loans originated, 142,843 and 115,912 for the three months ended March 31, 2025 and 2024, respectively.
Portfolio Yield
Portfolio yield increased to 33.0% for the three months ended March 31, 2025, from 32.5% for the three months ended March 31,2024, primarily attributable to higher pricing on our personal loan products.
30+ Day Delinquency Rate
Our 30+ Day Delinquency Rate was 4.7% and 5.2% as of March 31, 2025 and 2024, respectively. Thedecrease was primarily due to improved credit performance as a result of our incremental credit tightening efforts beginning with significantly tightened underwriting standards in 2022.
Annualized Net Charge-Off Rate
Annualized Net Charge-Off Rate for the three months ended March 31, 2025 and 2024 was 12.2% and 12.0%, respectively, up 16 basis points. Theincrease was primarily driven byadecrease in our Average Daily Principal Balance of 5% to $2.7 billion from$2.9 billionfor the three months ended March 31, 2025 and 2024, respectively. This was partially offset by a $4.0 million decrease in Net Charge-offsas loans from our back-book decreased as a percentage of our owned receivables. We expect the back book to become less impactful in 2025.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.