Enova International Stock Earnings Reports

Enova reported a strong start to 2026 with originations up 33% year-over-year to ~$2.3B and total portfolio balances up 28% to ~$5.3B. Revenue reached a record $875M, up 17% YoY, and adjusted EPS rose 30% YoY to $3.87, driven by growth (particularly in SMB) and favorable credit trends (consolidated net charge-off rate improved to 7.6%, the lowest since Q2 2023). SMB originations were especially strong (+42% YoY to $1.7B) while consumer originations grew 10% YoY. Management emphasized resilient consumer and small business demand despite macro/geopolitical volatility and noted stable or improving credit metrics across portfolios. Enova is increasing marketing to capture attractive demand while maintaining unit economics; marketing was higher in Q1 (22% of revenue) but is expected around ~20% in Q2. Corporate priorities include continued investment in machine learning and generative AI to drive underwriting, efficiency and customer experience, and executing the pending Grasshopper Bank acquisition (expected to close in H2 2026) which management expects will lower funding costs and drive >25% adjusted EPS accretion from net synergies within ~2 years post-close. Near-term financial guidance: Q2 revenue +15%–20% YoY with a net revenue margin of 55%–60%; full-year originations growth ~20% with adjusted EPS growth of at least 25% (guidance excludes any contribution from Grasshopper). Balance sheet liquidity remained strong (~$1.1B) and funding markets were constructive, with multiple warehouse upsizes completed in Q1.