2022 Q1 Form 10-Q Financial Statement

#000181850222000007 Filed on May 06, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2021 Q1
Revenue $50.73M $95.96M $61.86M
YoY Change -18.0% 3.94% -17.19%
Cost Of Revenue $2.100M $2.200M $1.600M
YoY Change 31.25% 69.23% 77.78%
Gross Profit $98.60M $93.80M $82.60M
YoY Change 19.37% 3.08% 12.08%
Gross Profit Margin 194.37% 97.75% 133.53%
Selling, General & Admin $16.61M $46.50M $9.397M
YoY Change 76.76% 15.59% -44.4%
% of Gross Profit 16.85% 49.58% 11.38%
Research & Development $3.800M $2.700M
YoY Change 40.74%
% of Gross Profit 3.85% 3.27%
Depreciation & Amortization $3.238M $2.993M $2.164M
YoY Change 49.63% 52.91% 54.57%
% of Gross Profit 3.28% 3.19% 2.62%
Operating Expenses $20.41M $52.41M $12.10M
YoY Change 68.72% -26.72% -76.0%
Operating Profit -$2.161M $41.39M $24.38M
YoY Change -108.86% 112.42% 4.65%
Interest Expense -$56.97M -$39.60M -$26.48M
YoY Change 115.19% 853.32% 307.32%
% of Operating Profit -95.67% -108.58%
Other Income/Expense, Net $2.404M $12.69M -$521.0K
YoY Change -561.42% -2670.75%
Pretax Income $200.0K $16.64M $24.38M
YoY Change -99.18% 2.98% 44.28%
Income Tax $500.0K -$392.0K $0.00
% Of Pretax Income 250.0% -2.36% 0.0%
Net Earnings $1.076M $11.43M -$3.086M
YoY Change -134.87% -29.27% -118.26%
Net Earnings / Revenue 2.12% 11.91% -4.99%
Basic Earnings Per Share $0.08
Diluted Earnings Per Share $0.08 $103.9K $221.7K
COMMON SHARES
Basic Shares Outstanding 13.58M shares
Diluted Shares Outstanding 13.64M shares

Balance Sheet

Concept 2022 Q1 2021 Q4 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.03M $25.06M $575.4K
YoY Change 4596.73% 2103.06%
Cash & Equivalents $27.03M $25.06M $95.97M
Short-Term Investments
Other Short-Term Assets $212.5K
YoY Change
Inventory
Prepaid Expenses
Receivables -$900.0K -$800.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $27.03M $25.06M $787.9K
YoY Change 3329.96% 1734.64%
LONG-TERM ASSETS
Property, Plant & Equipment $15.22M $14.64M
YoY Change 38.69%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $243.4M
YoY Change
Other Assets $57.98M $62.89M
YoY Change
Total Long-Term Assets $485.5M $477.0M $243.4M
YoY Change 99.48% 67.69%
TOTAL ASSETS
Total Short-Term Assets $27.03M $25.06M $787.9K
Total Long-Term Assets $485.5M $477.0M $243.4M
Total Assets $512.5M $502.1M $244.2M
YoY Change 109.91% 75.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.841M $6.100M $1.368M
YoY Change 399.93% 4396.93%
Accrued Expenses $36.20M $29.60M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $43.04M $35.70M $1.368M
YoY Change 3045.13% 26214.43%
LONG-TERM LIABILITIES
Long-Term Debt $280.9M $274.0M $0.00
YoY Change
Other Long-Term Liabilities $32.05M $34.51M $23.72M
YoY Change 35.15% 53.82%
Total Long-Term Liabilities $312.9M $308.5M $23.72M
YoY Change 1219.37% 1275.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $43.04M $35.70M $1.368M
Total Long-Term Liabilities $312.9M $308.5M $23.72M
Total Liabilities $356.0M $344.2M $25.09M
YoY Change 1318.97% 84.56%
SHAREHOLDERS EQUITY
Retained Earnings -$70.69M -$70.72M
YoY Change -176.61%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change
Treasury Stock Shares
Shareholders Equity -$8.747M -$9.040M $5.000M
YoY Change
Total Liabilities & Shareholders Equity $512.5M $502.1M $244.2M
YoY Change 109.91% 75.66%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2021 Q1
OPERATING ACTIVITIES
Net Income $1.076M $11.43M -$3.086M
YoY Change -134.87% -29.27% -118.26%
Depreciation, Depletion And Amortization $3.238M $2.993M $2.164M
YoY Change 49.63% 52.91% 54.57%
Cash From Operating Activities $44.73M $47.26M $45.36M
YoY Change -1.38% -2.95%
INVESTING ACTIVITIES
Capital Expenditures -$3.814M -$3.810M
YoY Change 47.14%
Acquisitions
YoY Change
Other Investing Activities -$48.43M -$85.68M -$6.000K
YoY Change 807066.67% 64.55%
Cash From Investing Activities -$52.24M -$89.49M -$4.642M
YoY Change 1025.46% 63.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.037M $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $5.097M 47.80M $9.594M
YoY Change -46.87% 545.22%
NET CHANGE
Cash From Operating Activities $44.73M 47.26M $45.36M
Cash From Investing Activities -$52.24M -89.49M -$4.642M
Cash From Financing Activities $5.097M 47.80M $9.594M
Net Change In Cash -$2.416M 5.560M $50.31M
YoY Change -104.8% 285.79%
FREE CASH FLOW
Cash From Operating Activities $44.73M $47.26M $45.36M
Capital Expenditures -$3.814M -$3.810M
Free Cash Flow $48.55M $51.07M
YoY Change -0.42%

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IncreaseDecreaseInOtherOperatingAssets
-356000 USD
CY2021Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
967000 USD
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
741000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-859000 USD
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-8570000 USD
CY2021Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-966000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
44731000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
45356000 USD
CY2022Q1 us-gaap Payments To Acquire Finance Receivables
PaymentsToAcquireFinanceReceivables
156877000 USD
CY2021Q1 us-gaap Payments To Acquire Finance Receivables
PaymentsToAcquireFinanceReceivables
105844000 USD
CY2022Q1 us-gaap Proceeds From Collection Of Finance Receivables
ProceedsFromCollectionOfFinanceReceivables
108447000 USD
CY2021Q1 us-gaap Proceeds From Collection Of Finance Receivables
ProceedsFromCollectionOfFinanceReceivables
104200000 USD
CY2022Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
3814000 USD
CY2021Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
2998000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-52244000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4642000 USD
CY2022Q1 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
587000 USD
CY2021Q1 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
902000 USD
CY2022Q1 us-gaap Proceeds From Repayments Of Secured Debt
ProceedsFromRepaymentsOfSecuredDebt
-3267000 USD
CY2021Q1 us-gaap Proceeds From Repayments Of Secured Debt
ProceedsFromRepaymentsOfSecuredDebt
-171000 USD
CY2022Q1 opfi Proceeds From Repayments Of Senior Debt
ProceedsFromRepaymentsOfSeniorDebt
10000000 USD
CY2021Q1 opfi Proceeds From Repayments Of Senior Debt
ProceedsFromRepaymentsOfSeniorDebt
16199000 USD
CY2021Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
11779000 USD
CY2022Q1 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
0 USD
CY2022Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
12000 USD
CY2021Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1532000 USD
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1037000 USD
CY2021Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5097000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
9594000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-2416000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
50308000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
62362000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
45657000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
59946000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
95965000 USD
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
6735000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
4857000 USD
CY2022Q1 opfi Non Cash Change From Adopting Fair Value Option
NonCashChangeFromAdoptingFairValueOption
0 USD
CY2021Q1 opfi Non Cash Change From Adopting Fair Value Option
NonCashChangeFromAdoptingFairValueOption
71252000 USD
CY2022Q1 opfi Operating Lease Right Of Use Asset Recognized From Accounting Standard Update
OperatingLeaseRightOfUseAssetRecognizedFromAccountingStandardUpdate
15459000 USD
CY2022Q1 opfi Finance Receivables Originated Through Bank Partnership Arrangements Percentage
FinanceReceivablesOriginatedThroughBankPartnershipArrangementsPercentage
0.94
CY2022Q1 opfi Operating Lease Liability Recognized From Accounting Standard Update
OperatingLeaseLiabilityRecognizedFromAccountingStandardUpdate
17972000 USD
CY2022Q1 us-gaap Nature Of Operations
NatureOfOperations
Organization and Nature of Operations<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">OppFi Inc. (“OppFi”), formerly FG New America Acquisition Corp. (“FGNA”), collectively with its consolidated subsidiaries (“Company”), is a leading mission-driven financial technology platform that powers banks to offer accessible lending products to everyday consumers through its proprietary technology and artificial intelligence and a top-rated experience. OppFi’s platform facilitates credit access products primarily through its installment loan product, OppLoans. OppFi’s credit access products also include its payroll deduction secured installment loan product, SalaryTap, and credit card product, OppFi Card. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On July 20, 2021 (“Closing Date”), the Company completed a business combination pursuant to the Business Combination Agreement (“Business Combination Agreement”), dated as of February 9, 2021, by and among Opportunity Financial, LLC (“OppFi-LLC”), a Delaware limited liability company, OppFi Shares, LLC (“OFS”), a Delaware limited liability company, and Todd Schwartz (“Members’ Representative”), in his capacity as the representative of the members of OppFi-LLC (“Members”) immediately prior to the closing (“Closing”). The transactions contemplated by the Business Combination Agreement are referred to herein as the “Business Combination.” At the Closing, FGNA changed its name to “OppFi Inc.” OppFi’s Class A common stock, par value $0.0001 per share (“Class A Common Stock”) and redeemable warrants exercisable for Class A Common Stock (“Public Warrants”) are listed on the New York Stock Exchange (“NYSE”) under the symbols “OPFI” and “OPFI WS,” respectively.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Following the Closing, the Company is organized in an “Up-C” structure in which substantially all of the assets and the business of the Company are held by OppFi-LLC and its subsidiaries, and OppFi’s only direct assets consist of Class A common units of OppFi-LLC (“OppFi Units”). As of March 31, 2022, OppFi owned approximately 12.2% of the OppFi Units and controls OppFi-LLC as the sole manager of OppFi-LLC in accordance with the terms of the Third Amended and Restated Limited Liability Company Agreement of OppFi-LLC (“OppFi A&amp;R LLCA”). All remaining OppFi Units (“Retained OppFi Units”) are beneficially owned by the Members. OFS holds a controlling voting interest in OppFi through its ownership of shares of Class V common stock, par value $0.0001 per share, of OppFi (“Class V Voting Stock”) in an amount equal to the number of Retained OppFi Units and therefore has the ability to control OppFi-LLC.</span></div>
CY2022Q1 opfi Reverse Recapitalization Ownership Interest Held Percent
ReverseRecapitalizationOwnershipInterestHeldPercent
0.122
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Use of estimates: </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The preparation of the unaudited consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions, including those impacted by COVID-19, that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the unaudited consolidated financial statements and the reported amounts of revenues and expenses during the reporting period.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The judgements, assumptions, and estimates used by management are based on historical experience, management’s experience and qualitative factors. The areas subject to significant estimation techniques are the determination of fair value of installment finance receivables and warrants, the adequacy of the allowance for credit losses on finance receivables, operating lease right of use asset, operating lease liability, valuation allowance of deferred tax assets, stock-based compensation expense and income </span></div>tax provision. For the aforementioned estimates, it is reasonably possible the recorded amounts or related disclosures could significantly change in the near future as new information is available.
CY2021Q1 opfi Finance Receivables Originated Through Bank Partnership Arrangements Percentage
FinanceReceivablesOriginatedThroughBankPartnershipArrangementsPercentage
0.74
CY2022Q1 opfi Finance Receivables Originated Through Bank Partnership Arrangements
FinanceReceivablesOriginatedThroughBankPartnershipArrangements
11800000 USD
CY2021Q4 opfi Finance Receivables Originated Through Bank Partnership Arrangements
FinanceReceivablesOriginatedThroughBankPartnershipArrangements
9500000 USD
CY2022Q1 opfi Financing Receivable Nonaccrual Threshold Delinquency Period
FinancingReceivableNonaccrualThresholdDelinquencyPeriod
P60D
CY2022Q1 us-gaap Research And Development Expense Software Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost
3800000 USD
CY2021Q1 us-gaap Research And Development Expense Software Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost
2700000 USD
CY2022Q1 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
3000000 USD
CY2021Q1 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
1900000 USD
CY2022Q1 opfi Financing Receivable After Allowance For Credit Loss Before Fair Value Option Adjustment Accrual Status
FinancingReceivableAfterAllowanceForCreditLossBeforeFairValueOptionAdjustmentAccrualStatus
309971000 USD
CY2021Q4 opfi Financing Receivable After Allowance For Credit Loss Before Fair Value Option Adjustment Accrual Status
FinancingReceivableAfterAllowanceForCreditLossBeforeFairValueOptionAdjustmentAccrualStatus
307059000 USD
CY2022Q1 opfi Financing Receivable After Allowance For Credit Loss Before Fair Value Option Adjustment Nonaccrual Status
FinancingReceivableAfterAllowanceForCreditLossBeforeFairValueOptionAdjustmentNonaccrualStatus
22546000 USD
CY2021Q4 opfi Financing Receivable After Allowance For Credit Loss Before Fair Value Option Adjustment Nonaccrual Status
FinancingReceivableAfterAllowanceForCreditLossBeforeFairValueOptionAdjustmentNonaccrualStatus
25185000 USD
CY2022Q1 opfi Financing Receivable After Allowance For Credit Loss Before Fair Value Option Adjustment
FinancingReceivableAfterAllowanceForCreditLossBeforeFairValueOptionAdjustment
332517000 USD
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
43171000 USD
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
39357000 USD
CY2021Q4 opfi Financing Receivable After Allowance For Credit Loss Before Fair Value Option Adjustment
FinancingReceivableAfterAllowanceForCreditLossBeforeFairValueOptionAdjustment
332244000 USD
CY2022Q1 opfi Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss Fair Value Option Accrual
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLossFairValueOptionAccrual
367724000 USD
CY2021Q4 opfi Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss Fair Value Option Accrual
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLossFairValueOptionAccrual
369576000 USD
CY2022Q1 opfi Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss Fair Value Option Nonaccrual
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLossFairValueOptionNonaccrual
3448000 USD
CY2021Q4 opfi Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss Fair Value Option Nonaccrual
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLossFairValueOptionNonaccrual
3677000 USD
CY2022Q1 opfi Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss Fair Value Option
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLossFairValueOption
371172000 USD
CY2021Q4 opfi Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss Fair Value Option
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLossFairValueOption
373253000 USD
CY2022Q1 opfi Financing Receivables Accrued Interest And Fees After Allowance For Credit Loss
FinancingReceivablesAccruedInterestAndFeesAfterAllowanceForCreditLoss
10673000 USD
CY2021Q4 opfi Financing Receivables Accrued Interest And Fees After Allowance For Credit Loss
FinancingReceivablesAccruedInterestAndFeesAfterAllowanceForCreditLoss
10637000 USD
CY2022Q1 opfi Financing Receivable After Allowance For Credit Loss Fair Value Option
FinancingReceivableAfterAllowanceForCreditLossFairValueOption
381845000 USD
CY2021Q4 opfi Financing Receivable After Allowance For Credit Loss Fair Value Option
FinancingReceivableAfterAllowanceForCreditLossFairValueOption
383890000 USD
CY2022Q1 us-gaap Fair Value Option Aggregate Differences Loans And Long Term Receivables
FairValueOptionAggregateDifferencesLoansAndLongTermReceivables
38655000 USD
CY2021Q4 us-gaap Fair Value Option Aggregate Differences Loans And Long Term Receivables
FairValueOptionAggregateDifferencesLoansAndLongTermReceivables
41009000 USD
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
27952000 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
24714000 USD
CY2022Q1 opfi Accrual For Services Rendered And Goods Purchased
AccrualForServicesRenderedAndGoodsPurchased
7352000 USD
CY2021Q4 opfi Accrual For Services Rendered And Goods Purchased
AccrualForServicesRenderedAndGoodsPurchased
10631000 USD
CY2022Q1 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
7030000 USD
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15219000 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14643000 USD
CY2022Q1 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
3200000 USD
CY2021Q1 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
2200000 USD
CY2022Q1 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
5942000 USD
CY2021Q4 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
5285000 USD
CY2022Q1 opfi Financing Receivables Accrued Interest And Fees Before Allowance For Credit Loss
FinancingReceivablesAccruedInterestAndFeesBeforeAllowanceForCreditLoss
32000 USD
CY2021Q4 opfi Financing Receivables Accrued Interest And Fees Before Allowance For Credit Loss
FinancingReceivablesAccruedInterestAndFeesBeforeAllowanceForCreditLoss
24000 USD
CY2022Q1 us-gaap Financing Receivable Deferred Income
FinancingReceivableDeferredIncome
232000 USD
CY2021Q4 us-gaap Financing Receivable Deferred Income
FinancingReceivableDeferredIncome
286000 USD
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
931000 USD
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
803000 USD
CY2022Q1 us-gaap Notes Receivable Net
NotesReceivableNet
4811000 USD
CY2021Q4 us-gaap Notes Receivable Net
NotesReceivableNet
4220000 USD
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
803000 USD
CY2022Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
457000 USD
CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
55031000 USD
CY2022Q1 us-gaap Financing Receivable Change In Method Credit Loss Expense Reversal
FinancingReceivableChangeInMethodCreditLossExpenseReversal
0 USD
CY2021Q1 us-gaap Financing Receivable Change In Method Credit Loss Expense Reversal
FinancingReceivableChangeInMethodCreditLossExpenseReversal
-55031000 USD
CY2021Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
7000 USD
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
329000 USD
CY2021Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
0 USD
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
931000 USD
CY2021Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
7000 USD
CY2021Q1 us-gaap Securities Purchased Under Agreements To Resell Allowance For Credit Loss
SecuritiesPurchasedUnderAgreementsToResellAllowanceForCreditLoss
0 USD
CY2022Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
500000 USD
CY2021Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
100000 USD
CY2021Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
2513000 USD
CY2022Q1 us-gaap Accrued Rent Current And Noncurrent
AccruedRentCurrentAndNoncurrent
4184000 USD
CY2021Q4 us-gaap Accrued Rent Current And Noncurrent
AccruedRentCurrentAndNoncurrent
4672000 USD
CY2022Q1 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
18566000 USD
CY2021Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
29595000 USD
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1100000 USD
CY2022Q1 us-gaap Variable Lease Payment
VariableLeasePayment
500000 USD
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
600000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1709000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2339000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2410000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2482000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2557000 USD
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
2482000 USD
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
2557000 USD
CY2022Q1 opfi Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
10283000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
21780000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4149000 USD
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
17631000 USD
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
22342000 USD
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y6M
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
562000 USD
CY2021Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
900000 USD
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
2271000 USD
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
2339000 USD
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
2410000 USD
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
10283000 USD
CY2022Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
8800000 USD
CY2021Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
11200000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
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175000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
15.23
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.86
CY2021Q1 us-gaap Unrecognized Tax Benefits
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0 USD
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P9Y3M18D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
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0 USD
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
2800000 USD
CY2021Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
6100000 USD
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3375000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
15.23
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
251918 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.77
CY2022Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
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0 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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0
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1499822 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
14.01
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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2127096 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.85
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y4M2D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 USD
CY2022Q1 us-gaap Accrued Employee Benefits Current And Noncurrent
AccruedEmployeeBenefitsCurrentAndNoncurrent
100000 USD
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
500000 USD
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
200000 USD
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
2.222
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.028
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
500000 USD
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
2.19
CY2022Q1 opfi Effective Income Tax Rate Reconciliation Excluding Tax Expense Benefit Share Based Payment Arrangement Percent
EffectiveIncomeTaxRateReconciliationExcludingTaxExpenseBenefitShareBasedPaymentArrangementPercent
0.032
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022Q1 opfi Reverse Recapitalization Ownership Interest Held Percent
ReverseRecapitalizationOwnershipInterestHeldPercent
0.122
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2022Q1 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0 USD
CY2022Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
6839000 USD
CY2021Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
3950000 USD
CY2022Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
609000 USD
CY2021Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
521000 USD
CY2022Q1 opfi Interest Expense And Amortized Debt Issuance Costs
InterestExpenseAndAmortizedDebtIssuanceCosts
7448000 USD
CY2021Q1 opfi Interest Expense And Amortized Debt Issuance Costs
InterestExpenseAndAmortizedDebtIssuanceCosts
4471000 USD
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
27025000 USD
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
32921000 USD
CY2022Q1 opfi Financing Receivables Accrued Interest And Fees After Allowance For Credit Loss
FinancingReceivablesAccruedInterestAndFeesAfterAllowanceForCreditLoss
10673000 USD
CY2022Q1 us-gaap Notes Receivable Net
NotesReceivableNet
4811000 USD
CY2022Q1 us-gaap Secured Debt
SecuredDebt
19176000 USD
CY2022Q1 us-gaap Senior Notes
SeniorNotes
261687000 USD
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
25064000 USD
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
37298000 USD
CY2021Q4 opfi Financing Receivables Accrued Interest And Fees After Allowance For Credit Loss
FinancingReceivablesAccruedInterestAndFeesAfterAllowanceForCreditLoss
10637000 USD
CY2021Q4 us-gaap Notes Receivable Net
NotesReceivableNet
4220000 USD
CY2021Q4 us-gaap Secured Debt
SecuredDebt
22443000 USD
CY2021Q4 us-gaap Senior Notes
SeniorNotes
251578000 USD
CY2021Q4 us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
300000 USD
CY2021Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
1500000 USD
CY2021Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
1500000 USD
CY2021Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
1500000 USD
CY2021Q1 us-gaap Management Fee Expense
ManagementFeeExpense
200000 USD
CY2022Q1 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
2000000 USD
CY2021Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
1300000 USD
CY2022Q1 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
0.04
CY2022Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
400000 USD
CY2021Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
300000 USD
CY2022Q1 us-gaap Profit Loss
ProfitLoss
-297000 USD
CY2022Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-1373000 USD
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1076000 USD
CY2022Q1 us-gaap Dilutive Securities
DilutiveSecurities
0 USD
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1076000 USD
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13581828 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
CY2022Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
53655 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13635483 shares
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18905988 shares

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