The narrowing of full-year guidance, particularly the reduction in the top end of revenue and adjusted net income, signals continued pressure from elevated charge-offs and lower receivables. Monitor the Q4 2026 earnings for any further deterioration in credit metrics or stabilization from the new line of credit product and LOLA platform migration.
Price Chart
Executive Summary
OppFi reported Q3 2026 total revenue of $149.2M, down 3.8% YoY, and GAAP diluted EPS of $0.40, down from $0.77. Adjusted EPS was $0.37, down 20% YoY. The company narrowed its full-year 2026 guidance ranges, reducing the top end of revenue, adjusted net income, and adjusted EPS. Credit quality deteriorated further with net charge-offs rising to 40.1% of revenue from 35.1% a year ago.
Key Financial Metrics
Key Facts
- Q3 2026 total revenue of $149.2M, down 3.8% YoY from $155.1M
- GAAP diluted EPS of $0.40, down 47.6% from $0.77 in Q3 2025
- Adjusted EPS of $0.37, down 20.1% from $0.46 in Q3 2025
- Net charge-offs as % of total revenue increased to 40.1% from 35.1% YoY
- Full-year 2026 guidance narrowed: revenue $600M-$610M (from $600M-$625M), adjusted net income $115M-$120M (from $115M-$130M), adjusted EPS $1.34-$1.40 (from $1.34-$1.51)
- Ending receivables declined 4.7% YoY to $458.6M
- Total net originations fell 6.8% YoY to $229.3M
- Company repurchased $6.7M of stock in Q3, $17.9M YTD
- Launched new line of credit product and migrated all new customers to LOLA platform
Financial Impact
Revenue declined 3.8% YoY; GAAP net income attributable to OppFi fell 17.2% to $34.5M; adjusted net income fell 22.5% to $31.6M. Full-year guidance top ends reduced by $15M (revenue), $10M (adjusted net income), and $0.11 (adjusted EPS).
Risk Factors
- Elevated net charge-offs at 40.1% of revenue, up 500 bps YoY, indicating worsening credit performance
- Revenue decline of 3.8% YoY driven by lower receivables and yield
- Full-year guidance top ends reduced for revenue, adjusted net income, and adjusted EPS
- Ending receivables down 4.7% YoY, reflecting lower originations and higher charge-offs
- Pending acquisition of BNCC adds execution risk and integration complexity
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001818502-26-000084 |
| Document: opfi-20260930earningsrel.htm | 0001818502-26-000084 |
| Document: opfi-20261028.htm | 0001818502-26-000084 |
| Document: 0001818502-26-000084-index-headers.html | 0001818502-26-000084 |
| Document: 0001818502-26-000084-index.html | 0001818502-26-000084 |
| Document: 0001818502-26-000084.txt | 0001818502-26-000084 |
| 8-K Data (Synthetic) | 0001818502-26-000084 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 1d ago | 8-K | $5.41 | awaiting T+20 | awaiting T+20 | $5.64 (−4.25%) |
Oct 19, 2026 9d ago | Press Release | $5.63 | awaiting T+20 | awaiting T+20 | $5.64 (+0.18%) |
Sep 11, 2026 6w ago | Insider Buy | $7.78 $5.82 | ▼ −25.19% | ▼ −27.46% | $5.64 (−27.51%) |
Sep 10, 2026 6w ago | Insider Buy | $7.98 $5.93 | ▼ −25.69% | ▼ −27.56% | $5.64 (−29.32%) |
Sep 9, 2026 7w ago | Insider Buy | $7.59 $6.09 | ▼ −19.76% | ▼ −21.89% | $5.64 (−25.69%) |
Sep 8, 2026 7w ago | Insider Buy | $7.53 $6.06 | ▼ −19.52% | ▼ −21.47% | $5.64 (−25.10%) |
Sep 4, 2026 7w ago | Insider Buy | $7.40 $6.18 | ▼ −16.49% | ▼ −18.20% | $5.64 (−23.78%) |
Sep 3, 2026 7w ago | Insider Cluster | $7.42 $6.04 | ▼ −18.60% | ▼ −19.20% | $5.64 (−23.99%) |
Sep 2, 2026 8w ago | Insider Cluster | $7.32 $5.97 | ▼ −18.44% | ▼ −17.99% | $5.64 (−22.95%) |
Sep 1, 2026 8w ago | Insider Cluster | $7.24 $5.95 | ▼ −17.82% | ▼ −17.66% | $5.64 (−22.10%) |
US Market Status
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