Oportun Financial Company profile
About Oportun Financial Corp
Oportun Financial Corporation is a financial services company. The Company leverage its digital platform to provide consumer credit to people. It uses artificial intelligence (AI) models to provide its customers with alternatives to payday and auto title loans. The Company offers personal loans, credit cards and auto loans. Its personal loan consists of amortizing personal installment loan with fixed payments throughout the life of the loan. It offers Oportun Visa Credit Card product in over 33 states. The Company’s digital platform enables end-to-end process management, from loan application through disbursement, to servicing and collections, allowing its customers to interact with and move between online, over-the-phone, and in person experiences. It enables its customers to complete a loan application online through a mobile phone, tablet, or computer.
Financial summary
BRIEF: For the fiscal year ended 31 December 2021, Oportun Financial Corp revenues increased 58% to $530.5M. Net income before extraordinary items totaled $47.4M vs. loss of $43.6M. Revenues reflect Net decrease in fair value increase of 74% to -$48.6M, Interest on Loans increase of 5% to $566.2M, Interest expense increase of 18% to -$47.7M. Net Income reflects Stock-based Compensation in SGA decrease of 23% to $2.8M (expense).
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