OPFI - OppFi expects Q3 revenue beat reiterates 2022 outlook amid strong demand

• OppFi ( NYSE: OPFI ) said Tuesday it expects to report Q3 total revenue of ~$124.2M, well above consensus estimate of $108.76M.
• Q3 net loss is estimated to be ~$0.7M, while adj. net income is expected to be ~$0.8M.
• Shares of OppFi ( OPFI ) rose 4.4% after the bell.
• OppFi ( OPFI ) also reiterated its 2022 guidance, which CEO Todd Schwartz said reflected strong demand, credit performance consistent with its outlook and disciplined cost management.
• "We remain confident that OppFi's ( OPFI ) profitability will rebound in 2023 based on strategic credit adjustments undertaken in July, which already generated substantially lower early delinquency rates that are near pre-pandemic levels for both new and refinanced loans," Schwartz added.
• The company will release its Q3 results after market close on Nov. 9.

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