OppFi Inc
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
View on SEC.govAbout this filing
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 8, 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)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income | $69,864 | $37,538 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Change in fair value of finance receivables | 149,546 | 164,463 |
| Provision for credit losses on finance receivables | 34 | 4,131 |
| Depreciation and amortization | 7,495 | 9,827 |
| Debt issuance cost amortization | 1,759 | 1,872 |
| Stock-based compensation expense | 4,182 | 3,070 |
| Loss on disposition of equipment | 5 | 1 |
| Lower of cost or market adjustment on transfer of finance receivables from held for sale to held for investment | — | (2,983) |
| Deferred income taxes | 1,638 | 248 |
| Tax receivable agreement liability adjustment | 52 | — |
| Change in fair value of warrant liabilities | (2,750) | (838) |
| Gain on forgiveness of debt | — | (113) |
| Income from equity method investment | (627) | — |
| Changes in assets and liabilities: | ||
| Accrued interest and fees receivable | (1,544) | (600) |
| Settlement receivable | (3,208) | (902) |
| Operating lease, net | (114) | (54) |
| Other assets | (968) | 1,398 |
| Accounts payable | 206 | (2,769) |
| Accrued expenses | 3,729 | (701) |
| Net cash provided by operating activities | 229,299 | 213,588 |
| Cash flows from investing activities: | ||
| Finance receivables originated and acquired | (538,447) | (540,313) |
| Finance receivables repayments | 392,376 | 367,217 |
| Purchases of equipment and capitalized technology | (8,607) | (6,887) |
| Acquisition of equity method investment | (15,929) | — |
| Net cash used in investing activities | (170,607) | (179,983) |
| Cash flows from financing activities: | ||
| Member distributions | (42,050) | (10,240) |
| Payments of secured borrowing payable | — | (643) |
| Net advance (payments) of senior debt - revolving lines of credit | 2,554 | (2,907) |
| Payment of senior debt - term loan | (10,000) | — |
| Payments of note payable | (1,449) | (1,857) |
| Payments for debt issuance costs | (822) | (1,649) |
| Proceeds from employee stock purchase plan | 294 | 328 |
| Payments of tax withholding on vesting of restricted stock units | (1,004) | (280) |
| Purchase of treasury stock | (3,551) | — |
| Dividend paid on common stock | (2,374) | — |
| Net cash used in financing activities | (58,402) | (17,248) |
| Net increase in cash and restricted cash | 290 | 16,357 |
| Cash and restricted cash | ||
| Beginning | 73,943 | 49,670 |
| Ending | $74,233 | $66,027 |
| Supplemental disclosure of cash flow information: | ||
| Interest paid on borrowed funds | $32,185 | $32,276 |
| Income taxes paid | $461 | $73 |
| Continued on next page | ||
Consolidated Statements of Cash Flows (Unaudited) - Continued
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Non-cash investing and financing activities: | ||
| Adjustments to additional paid-in capital as a result of tax receivable agreement | $(33) | $938 |
| Adjustments to additional paid-in capital as a result of adjustment to deferred tax asset | $(1,887) | $(671) |
| Issuance of Class V shares related to equity investment | $2,836 | $— |
| Accrued transaction costs associated with equity investment, not yet paid | $37 | $— |
| Forfeitures of Class V shares related to forfeiture of earnout units | $2 | $— |
| Operating lease right of use asset recognized | $— | $159 |
| Operating lease liability recognized | $— | $159 |
| Reclassification of finance receivables held for sale to held for investment | $— | $2,637 |
| Prepaid insurance financed with promissory notes | $— | $2,414 |
| See notes to consolidated financial statements. | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.