OPFI - OppFi shares climb after Q3 beat reiterates full-year guidance
Shares of OppFi (NYSE:OPFI) surged as much as 15% in after-hours trading after the fintech tops Wall Street expectations and reiterates its 2021 outlook. OPFI has since erased about half of those gains. Q3 adjusted EPS of $0.21 beats the $0.15 consensus estimate; adjusted revenues of $92M also surpasses the $88.5M estimate, up from $73.6M in the year-ago quarter. Q3 total net originations of $164.6M increases from $144M in Q3 of last year. Ending receivables were $293.3M in Q3 vs. $260.4M in Q3 a year ago. Net charge-offs as a percentage of average receivables were 36%, compared with 28% in the year-ago quarter. Reiterates full-year revenue of $350M-360M in 2021, as well as adjusted EBITDA of $120M-125M for the year. Q3 adjusted EBITDA of $96.42M rises from $66.5M in the same year-ago period. "We believe personalized pricing could allow us to serve an even larger portion of our addressable market and drive
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OppFi shares climb after Q3 beat, reiterates full-year guidance