OppFi Inc

oppfi.com

What Do They Do?

Facilitates digital installment loans for consumers underserved by traditional lenders and provides partner banks with marketing, underwriting and servicing technology. Also holds an interest in a company offering working-capital financing to small businesses.

How Do They Make Money?

OppFi earns interest from consumers on installment loans over the loans’ contractual lives; banks pay OppFi for technology and services used to facilitate loan origination and servicing.

FY2025 revenue

Who Are Their Customers?

Consumers underserved by traditional financing options apply online for loans offered by partner banks; those banks use OppFi’s technology and services to acquire, underwrite, and service borrowers.

Do Revenues Turn Into Profits?

Yes. It kept 7 cents of every revenue dollar as net income in FY2025 and turned 100 cents into free cash flow.

Operating income, FY2025

44% of revenue

▲ +76% vs FY2024 ($94.5M, 29%)

Net income, FY2025

7% of revenue

▲ +263% vs FY2024 ($7.3M, 2%)

Free cash flow, FY2025

100% of revenue

▲ +23% vs FY2024 ($310.8M, 97%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▼ −14%; vs $100.2M in Q2 FY2025
Net income: ▲ Now profitable; vs −$20.8M in Q2 FY2025

Apr 29, 2026 Agreed to acquire BNCC and its bank subsidiary After closing, OppFi plans to contribute substantially all assets, liabilities and operations to BNC, which would be renamed OppFi Bank, N.A.

Growing. Revenue grew 45% in 4 years, from $263.7M in FY2021 to $381.2M in FY2025, about 10% a year.

Small-business financing The newer report describes an equity interest in Bitty, which offers revenue-based financing and working-capital solutions for small businesses; the older report describes OppFi as focused on lending to consumers.

Comments