OppFi Inc

For the period ended Dec 31, 2023. Filed Mar 27, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 27, 2024

OPFI$6.03-2.4%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Balance Sheets as of December 31, 202 and

(in thousands, except share data)

	December 31,
	2023	2022
Assets
Cash(1)	$31,791	$16,239
Restricted cash(1)	42,152	33,431
Total cash and restricted cash	73,943	49,670
Finance receivables at fair value(1)	463,320	457,296
Finance receivables at amortized cost, net of allowance for credit losses of $346 and $96 as of December 31, 2023 and 2022, respectively	110	643
Settlement receivable(1)	1,904	2,000
Assets held for sale	—	550
Debt issuance costs, net(1)	3,834	4,049
Property, equipment and software, net	10,292	14,039
Operating lease right-of-use assets	12,180	13,587
Deferred tax asset	25,777	26,758
Other assets(1)	10,183	11,247
Total assets	$601,543	$579,839
Liabilities and Stockholders' Equity
Liabilities:
Accounts payable(1)	$4,442	$6,338
Accrued expenses(1)	22,006	23,220
Operating lease liabilities	15,061	16,558
Secured borrowing payable(1)	—	756
Senior debt, net(1)	332,667	344,688
Notes payable	1,449	1,616
Warrant liabilities	6,864	1,888
Tax receivable agreement liability	25,025	25,625
Total liabilities	407,514	420,689
Commitments and contingencies (Note 14)
Stockholders' equity:
Preferred stock, $0.0001 par value (1,000,000 shares authorized with no shares issued and outstanding as of December 31, 2023 and 2022, respectively)	—	—
Class A common stock, $0.0001 par value (379,000,000 shares authorized with 19,554,774 shares issued and 18,850,860 shares outstanding as of December 31, 2023 and 15,464,480 shares issued and 14,760,566 shares outstanding as of December 31, 2022)	2	2
Class B common stock, $0.0001 par value (6,000,000 shares authorized with no shares issued and outstanding as of December 31, 2023 and 2022, respectively)	—	—
Class V voting stock, $0.0001 par value (115,000,000 shares authorized with 91,898,193 and 94,937,285 shares issued and outstanding as of December 31, 2023 and 2022, respectively)	9	9
Additional paid-in capital	76,480	65,501
Accumulated deficit	(63,591)	(63,546)
Treasury stock at cost, 703,914 shares as of December 31, 2023 and 2022	(2,460)	(2,460)
Total OppFi Inc.'s stockholders' equity (deficit)	10,440	(494)
Noncontrolling interest	183,589	159,644
Total stockholders' equity	194,029	159,150
Total liabilities and stockholders' equity	$601,543	$579,839
(1) Includes amounts in consolidated variable interest entities ("VIEs") presented separately in the table below.
Continued on next page

(in thousands)

The following table summarizes the consolidated assets and liabilities of VIEs, which are included in the Consolidated Balance Sheets. The assets below may only be used to settle obligations of VIEs and are in excess of those obligations.
	December 31,
	2023	2022
Assets of consolidated VIEs, included in total assets above
Cash	$368	$—
Restricted cash	32,782	24,577
Total cash and restricted cash	33,150	24,577
Finance receivables at fair value	417,138	417,476
Settlement receivable	1,904	2,000
Debt issuance costs, net	3,834	4,049
Other assets	7	108
Total assets	$456,033	$448,210
Liabilities of consolidated VIEs, included in total liabilities above
Accounts payable	$5	$109
Accrued expenses	3,614	3,428
Secured borrowing payable	—	756
Senior debt, net	283,213	295,734
Total liabilities	$286,832	$300,027
See notes to consolidated financial statements.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.