Oppfi Stock Earnings Reports

OppFi announced a strategic acquisition of BNCC Corp and BNC National Bank in a cash-and-stock deal valued at ~ $130 million, expected to close in Q4 2026 subject to regulatory approvals. The transaction gives OppFi a national bank charter, ~ $1 billion in deposits (80% <2% cost), broader geographic reach (from 40 toward 50 states), and expected funding and revenue synergies. Management expects the acquisition to be accretive to adjusted EPS (management: ≥25% year 1, 40% year 2, 50% year 3) and projected synergy dollars (Pam: $60M year 1, $90M year 2, $115M+ year 3). OppFi is investing over $150 million in 2026 (LOLA platform, BNC acquisition/integration, corporate simplification) and has converted from an Up-C to a C-corp (terminating the TRA and creating ~$466M tax-amortizable goodwill, with ~ $111M future cash tax savings estimated). Product and technology initiatives include full deployment of Model 6.1, development of Model 7 (launch expected fall 2026), launch/initial migration to the LOLA origination/servicing system (initial migration planned this month; substantial completion expected Q3 2026), and a new OpLoans line-of-credit product targeted to launch summer 2026. Capital allocation: Board approved a new $40 million share repurchase program (replacing prior program); Q1 repurchases totaled ~1M shares for $9.9M. Q1 2026 results: revenue $152M (+8% YoY), receivables $445M (+9% YoY), originations $176M (-7% YoY), adjusted net income $30M (-11% YoY), adjusted EPS $0.35 vs $0.38 prior year, net charge-offs elevated (net charge-offs/revenue 42% vs 35% prior year; NCOs/receivables 55% vs 47% prior year). Balance sheet and liquidity: cash & equivalents ~ $100M, total debt $284M, stockholders' equity $343M, total funding capacity $625M (including $241M unused debt capacity). Free cash flow in Q1 was $69M. Management is prioritizing long-term, sustainable growth and maintaining full-year 2026 guidance while executing investments and M&A.