OppFi Inc
For the period ended Mar 31, 2024. Filed May 9, 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.
Mar 31, 2024 · Filed May 9, 2024
OPFI$6.03-2.4%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 Flows
Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income | $10,131 | $3,930 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Change in fair value of finance receivables | 64,102 | 63,118 |
| Provision for credit losses on finance receivables | 27 | 70 |
| Depreciation and amortization | 2,725 | 3,391 |
| Debt issuance cost amortization | 550 | 764 |
| Stock-based compensation expense | 1,004 | 1,139 |
| Loss on disposition of equipment | 2 | — |
| Loss on assets held for sale | — | 147 |
| Deferred income taxes | 354 | 109 |
| Change in fair value of warrant liabilities | (5,171) | (153) |
| Gain on forgiveness of debt | — | (113) |
| Changes in assets and liabilities: | ||
| Accrued interest and fees receivable | 3,091 | 2,982 |
| Settlement receivable | 138 | (843) |
| Operating lease, net | (35) | (15) |
| Assets held for sale | — | (75) |
| Other assets | (55) | 158 |
| Accounts payable | (458) | (2,627) |
| Accrued expenses | (1,978) | (6,345) |
| Net cash provided by operating activities | 74,427 | 65,637 |
| Cash flows from investing activities: | ||
| Finance receivables originated and acquired | (152,548) | (155,499) |
| Finance receivables repayments | 136,672 | 129,314 |
| Purchases of equipment and capitalized technology | (2,129) | (2,115) |
| Net cash used in investing activities | (18,005) | (28,300) |
| Cash flows from financing activities: | ||
| Member distributions | (8,372) | (5) |
| Payments of secured borrowing payable | — | (643) |
| Net payments of senior debt - revolving lines of credit | (32,477) | (14,116) |
| Payments of note payable | (725) | (808) |
| Payments for debt issuance costs | — | (218) |
| Proceeds from employee stock purchase plan | 119 | 157 |
| Payments of tax withholding on vesting of restricted stock units | (189) | — |
| Net cash used in financing activities | (41,644) | (15,633) |
| Net increase in cash and restricted cash | 14,778 | 21,704 |
| Cash and restricted cash | ||
| Beginning | 73,943 | 49,670 |
| Ending | $88,721 | $71,374 |
| Supplemental disclosure of cash flow information: | ||
| Interest paid on borrowed funds | $11,142 | $10,125 |
| Income taxes paid | $146 | $10 |
| Non-cash financing activities: | ||
| Adjustments to additional paid-in capital as a result of tax receivable agreement | $346 | $(187) |
| Adjustments to additional paid-in capital as a result of adjustment to deferred tax asset | $224 | $(61) |
| See notes to consolidated financial statements. | ||
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