OppFi Inc’s recent news and performance

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Shares of OppFi Inc. (OPFI) rose 5.88% after hours on Friday November 5, 2021 and closed daily trading at $ 7.20. Even during the regular trading session, OPFI stock gained 2.26%. OPFI stock rose 6.25% last week. In the past three months the stock has lost 17.87%, while in the past six months it has fallen 32.67%.

Let’s take a look at his latest news and developments.

OPFI’s forthcoming financial results announced

OppFi Inc. (OPFI) Release financial results for the third quarter ended September 30, 2021, after market close on November 11, 2021.

$ 75 million credit facility modified by OPFI

On October 19, 2021, OppFi Inc (OPFI) amended its existing $ 75 million credit facility with Atalaya Capital Management to support the growth of the new OppFi card. OppFi recently launched OppFi Card, its very first credit card designed to enable the company to serve a $ 21 billion non-premium credit card market segment.

Bank credit facility extended to OPFI

On October 05, 2021, OppFi Inc. (OPFI) extended its existing $ 25 million to $ 45 million bank credit facility. OppFi plans to use the expanded facility in part to support the growth and expansion of its SalaryTap product, an employer payroll-related loan product, available in 33 states.

OPFI welcomes recent Federal Court decision

On September 02, 2021, OppFi Inc. (OPFI) applauds the recent Federal District Court ruling for the West District of Texas upholding the Consumer Financial Protection Bureau’s motion for summary judgment and dismissing the Community Financial Services Association’s challenge to the CFPB’s day-to-day rule payroll, vehicle title and some high cost installment loans.

Announcement of the latest financial results of the OPFI

On August 10, 2021, OppFi Inc. (OPFI) reported Financial results of Opportunity Financial, LLC for the second quarter ended June 30, 2021.

Q2 2021 Financial Highlights

  • OPFI reported total revenue of $ 78.38 million in the second quarter of 2021, compared to $ 61.3 million in the second quarter of 2020.
  • Total spending was $ 17.9 million in the second quarter of 2021, compared to $ 7.36 million in the second quarter of 2020.
  • It achieved net income of $ 17.98 million in the second quarter of 2021, compared to net income of $ 25.11 million in the second quarter of 2020.
  • Adjusted EBITDA was $ 32.32 million in the second quarter of 2021, compared to $ 9.1 million in the second quarter of 2020.
  • The company ended the quarter with $ 121 million in total cash

Financial outlook for fiscal year 2021

For fiscal 2021, the company expects to

  • The turnover must be between 350 and 360 million dollars.
  • Adjusted EBITDA between $ 120 million and $ 125 million.
  • Adjusted net income between $ 62 million and $ 66 million.

Conclusion

Well, there is no recent development that could be the reason for OPFI’s strong performance on Friday. we hope it will continue its positive momentum after the weekend as well.


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