$OPFI
OppFi Inc.

2023 Q2 Form 10-Q Financial Statement

#000181850223000007 Filed on May 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $74.58M $57.19M
YoY Change -30.87% 12.73%
Cost Of Revenue $2.383M $2.390M
YoY Change -2.3% 13.81%
Gross Profit $123.2M $118.0M
YoY Change 16.88% 19.66%
Gross Profit Margin 165.24% 206.32%
Selling, General & Admin $16.74M $13.64M
YoY Change -62.86% -17.89%
% of Gross Profit 13.58% 11.56%
Research & Development $2.500M $2.000M
YoY Change -16.67% -47.37%
% of Gross Profit 2.03% 1.7%
Depreciation & Amortization $3.317M $3.391M
YoY Change -1.46% 4.73%
% of Gross Profit 2.69% 2.87%
Operating Expenses $19.24M $15.64M
YoY Change -62.6% -23.38%
Operating Profit $18.33M $3.730M
YoY Change -66.05% -272.61%
Interest Expense -$11.23M -$11.37M
YoY Change -77.55% -80.04%
% of Operating Profit -61.26% -304.85%
Other Income/Expense, Net $430.0K $346.0K
YoY Change -86.96% -85.61%
Pretax Income $18.80M $4.100M
YoY Change 93.83% 1950.0%
Income Tax $700.0K $100.0K
% Of Pretax Income 3.72% 2.44%
Net Earnings $2.142M $251.0K
YoY Change -38.06% -76.67%
Net Earnings / Revenue 2.87% 0.44%
Basic Earnings Per Share $0.14 $0.02
Diluted Earnings Per Share $0.14 $0.02
COMMON SHARES
Basic Shares Outstanding 109.8M shares 15.04M shares
Diluted Shares Outstanding 15.87M shares 15.19M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.80M $32.19M
YoY Change 14.17% 19.09%
Cash & Equivalents $26.80M $32.19M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables -$2.411M -$47.00K
Other Receivables $2.511M $2.843M
Total Short-Term Assets $26.90M $34.98M
YoY Change 14.6% 29.44%
LONG-TERM ASSETS
Property, Plant & Equipment $11.96M $12.76M
YoY Change -59.74% -16.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $61.35M $66.31M
YoY Change 3.98% 14.37%
Total Long-Term Assets $550.5M $525.1M
YoY Change -0.74% 8.14%
TOTAL ASSETS
Total Short-Term Assets $26.90M $34.98M
Total Long-Term Assets $550.5M $525.1M
Total Assets $577.4M $560.0M
YoY Change -0.12% 9.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.059M $3.711M
YoY Change -60.32% -45.75%
Accrued Expenses $38.70M $33.05M
YoY Change 5.63% -8.69%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $808.0K
YoY Change
Total Short-Term Liabilities $42.76M $37.57M
YoY Change -8.76% -12.7%
LONG-TERM LIABILITIES
Long-Term Debt $331.9M $330.7M
YoY Change -1.38% 17.76%
Other Long-Term Liabilities $25.75M $27.61M
YoY Change -11.76% -13.88%
Total Long-Term Liabilities $357.6M $358.4M
YoY Change -2.21% 14.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $42.76M $37.57M
Total Long-Term Liabilities $357.6M $358.4M
Total Liabilities $400.4M $395.9M
YoY Change -31.21% 11.23%
SHAREHOLDERS EQUITY
Retained Earnings -$60.99M -$63.29M
YoY Change -10.46%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.447M $1.438M
YoY Change
Total Liabilities & Shareholders Equity $577.4M $560.0M
YoY Change -0.12% 9.27%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $2.142M $251.0K
YoY Change -38.06% -76.67%
Depreciation, Depletion And Amortization $3.317M $3.391M
YoY Change -1.46% 4.73%
Cash From Operating Activities $72.93M $65.64M
YoY Change 25.62% 46.74%
INVESTING ACTIVITIES
Capital Expenditures $2.518M $2.115M
YoY Change -181.25% -155.45%
Acquisitions
YoY Change
Other Investing Activities -$72.38M -$26.19M
YoY Change -33.62% -45.93%
Cash From Investing Activities -$74.90M -$28.30M
YoY Change -33.21% -45.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.296M -$15.63M
YoY Change -114.09% -406.71%
NET CHANGE
Cash From Operating Activities 72.93M $65.64M
Cash From Investing Activities -74.90M -$28.30M
Cash From Financing Activities -7.296M -$15.63M
Net Change In Cash -9.266M $21.70M
YoY Change 301.47% -998.34%
FREE CASH FLOW
Cash From Operating Activities $72.93M $65.64M
Capital Expenditures $2.518M $2.115M
Free Cash Flow $70.41M $63.52M
YoY Change 15.14% 30.85%

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457000 usd
CY2023Q1 us-gaap Depreciation And Amortization
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CY2022Q1 us-gaap Depreciation And Amortization
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3238000 usd
CY2023Q1 opfi Debt Issuance Cost Amortization
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CY2022Q1 opfi Debt Issuance Cost Amortization
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CY2023Q1 us-gaap Share Based Compensation
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CY2022Q1 us-gaap Share Based Compensation
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CY2023Q1 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
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CY2022Q1 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
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CY2023Q1 us-gaap Deferred Income Tax Expense Benefit
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CY2022Q1 us-gaap Deferred Income Tax Expense Benefit
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537000 usd
CY2023Q1 us-gaap Fair Value Adjustment Of Warrants
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CY2022Q1 us-gaap Fair Value Adjustment Of Warrants
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CY2023Q1 us-gaap Gains Losses On Extinguishment Of Debt
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113000 usd
CY2022Q1 us-gaap Gains Losses On Extinguishment Of Debt
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CY2023Q1 us-gaap Increase Decrease In Accrued Investment Income Receivable
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CY2022Q1 us-gaap Increase Decrease In Accrued Investment Income Receivable
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CY2023Q1 us-gaap Increase Decrease In Insurance Settlements Receivable
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CY2022Q1 us-gaap Increase Decrease In Insurance Settlements Receivable
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CY2023Q1 us-gaap Increase Decrease In Operating Lease Liability
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CY2022Q1 us-gaap Increase Decrease In Operating Lease Liability
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4000 usd
CY2023Q1 us-gaap Increase Decrease In Assets Held For Sale
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75000 usd
CY2022Q1 us-gaap Increase Decrease In Assets Held For Sale
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CY2022Q1 us-gaap Increase Decrease In Other Operating Assets
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741000 usd
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
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CY2023Q1 us-gaap Payments To Acquire Finance Receivables
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129314000 usd
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CY2023Q1 us-gaap Payments To Acquire Productive Assets
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CY2022Q1 us-gaap Payments To Acquire Productive Assets
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CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022Q1 us-gaap Payments Of Distributions To Affiliates
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CY2022Q1 us-gaap Proceeds From Repayments Of Secured Debt
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CY2023Q1 opfi Proceeds From Repayments Of Senior Debt
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CY2022Q1 opfi Proceeds From Repayments Of Senior Debt
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CY2023Q1 opfi Proceeds From Repayment Of Note Payable
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CY2022Q1 opfi Proceeds From Repayment Of Note Payable
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CY2022Q1 us-gaap Payments Of Debt Issuance Costs
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CY2022Q1 us-gaap Proceeds From Stock Plans
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CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
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CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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21704000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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49670000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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62362000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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71374000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q1 us-gaap Interest Paid Net
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CY2022Q1 us-gaap Interest Paid Net
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CY2023Q1 us-gaap Income Taxes Paid
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CY2022Q1 us-gaap Income Taxes Paid
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CY2022Q1 opfi Adjustments To Additional Paid In Capital Tax Receivable Agreement Liability
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CY2023Q1 opfi Adjustments To Additional Paid In Capital As A Result Of Adjustment To Deferred Tax Asset
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CY2022Q1 opfi Adjustments To Additional Paid In Capital As A Result Of Adjustment To Deferred Tax Asset
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CY2023Q1 opfi Operating Lease Right Of Use Asset Recognized From Accounting Standard Update
OperatingLeaseRightOfUseAssetRecognizedFromAccountingStandardUpdate
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CY2022Q1 opfi Operating Lease Right Of Use Asset Recognized From Accounting Standard Update
OperatingLeaseRightOfUseAssetRecognizedFromAccountingStandardUpdate
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CY2023Q1 opfi Operating Lease Liability Recognized From Accounting Standard Update
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CY2022Q1 opfi Operating Lease Liability Recognized From Accounting Standard Update
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CY2023Q1 us-gaap Nature Of Operations
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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 subsidiaries (“Company”), is a mission-driven fintech platform that helps everyday Americans gain access to credit with digital specialty finance products. OppFi’s primary products are offered by its installment loan product, OppLoans. OppFi’s 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 (the “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 (the “Members’ Representative”), in his capacity as the representative of the members of OppFi-LLC (“Members”) immediately prior to the closing (the “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, 2023 and December 31, 2022, OppFi owned approximately 13.9% and 13.5% of the OppFi Units, respectively, 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>
CY2023Q1 opfi Reverse Recapitalization Ownership Interest Held Percent
ReverseRecapitalizationOwnershipInterestHeldPercent
0.139
CY2022Q4 opfi Reverse Recapitalization Ownership Interest Held Percent
ReverseRecapitalizationOwnershipInterestHeldPercent
0.135
CY2023Q1 us-gaap Use Of Estimates
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<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 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, valuation allowance of deferred tax assets, stock-based compensation expense and income 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.</span></div>
CY2023Q1 opfi Finance Receivables Originated Through Bank Partnership Arrangements Percentage
FinanceReceivablesOriginatedThroughBankPartnershipArrangementsPercentage
0.95
CY2022Q1 opfi Finance Receivables Originated Through Bank Partnership Arrangements Percentage
FinanceReceivablesOriginatedThroughBankPartnershipArrangementsPercentage
0.94
CY2023Q1 opfi Finance Receivables Originated Through Bank Partnership Arrangements
FinanceReceivablesOriginatedThroughBankPartnershipArrangements
10200000 usd
CY2022Q4 opfi Finance Receivables Originated Through Bank Partnership Arrangements
FinanceReceivablesOriginatedThroughBankPartnershipArrangements
11200000 usd
CY2023Q1 opfi Financing Receivable Nonaccrual Threshold Delinquency Period
FinancingReceivableNonaccrualThresholdDelinquencyPeriod
P60D
CY2023Q1 us-gaap Research And Development Expense Software Excluding Acquired In Process Cost
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3800000 usd
CY2023Q1 us-gaap Capitalized Computer Software Amortization1
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3200000 usd
CY2022Q1 us-gaap Capitalized Computer Software Amortization1
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CY2023Q1 opfi Financing Receivable After Allowance For Credit Loss Before Fair Value Option Adjustment Accrual Status
FinancingReceivableAfterAllowanceForCreditLossBeforeFairValueOptionAdjustmentAccrualStatus
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CY2023Q1 opfi Financing Receivable After Allowance For Credit Loss Before Fair Value Option Adjustment Nonaccrual Status
FinancingReceivableAfterAllowanceForCreditLossBeforeFairValueOptionAdjustmentNonaccrualStatus
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FinancingReceivableAfterAllowanceForCreditLossBeforeFairValueOptionAdjustmentNonaccrualStatus
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CY2023Q1 opfi Financing Receivable After Allowance For Credit Loss Before Fair Value Option Adjustment
FinancingReceivableAfterAllowanceForCreditLossBeforeFairValueOptionAdjustment
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CY2022Q4 opfi Financing Receivable After Allowance For Credit Loss Before Fair Value Option Adjustment
FinancingReceivableAfterAllowanceForCreditLossBeforeFairValueOptionAdjustment
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CY2023Q1 opfi Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss Fair Value Option Accrual
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CY2022Q4 opfi Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss Fair Value Option Accrual
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CY2023Q1 opfi Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss Fair Value Option Nonaccrual
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLossFairValueOptionNonaccrual
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CY2022Q4 opfi Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss Fair Value Option Nonaccrual
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLossFairValueOptionNonaccrual
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CY2023Q1 opfi Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss Fair Value Option
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLossFairValueOption
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CY2023Q1 opfi Financing Receivables Accrued Interest And Fees After Allowance For Credit Loss
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CY2022Q4 opfi Financing Receivables Accrued Interest And Fees After Allowance For Credit Loss
FinancingReceivablesAccruedInterestAndFeesAfterAllowanceForCreditLoss
15800000 usd
CY2023Q1 opfi Financing Receivable After Allowance For Credit Loss Fair Value Option
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CY2022Q4 opfi Financing Receivable After Allowance For Credit Loss Fair Value Option
FinancingReceivableAfterAllowanceForCreditLossFairValueOption
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CY2023Q1 us-gaap Fair Value Option Aggregate Differences Loans And Long Term Receivables
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34952000 usd
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CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
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506000 usd
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CY2023Q1 opfi Financing Receivables Accrued Interest And Fees Before Allowance For Credit Loss
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5000 usd
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96000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
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464000 usd
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643000 usd
CY2022Q4 us-gaap Warrants And Rights Outstanding
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CY2022Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
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CY2021Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
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803000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
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70000 usd
CY2022Q1 us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal
457000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
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CY2022Q1 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
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CY2023Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
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CY2022Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
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CY2023Q1 us-gaap Property Plant And Equipment Gross
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CY2022Q4 us-gaap Property Plant And Equipment Gross
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CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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40771000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
37380000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
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12763000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
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14039000 usd
CY2023Q1 us-gaap Depreciation Amortization And Accretion Net
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3400000 usd
CY2022Q1 us-gaap Depreciation Amortization And Accretion Net
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3200000 usd
CY2023Q1 us-gaap Variable Lease Payment
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CY2022Q1 us-gaap Variable Lease Payment
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500000 usd
CY2023Q1 opfi Accrual For Services Rendered And Goods Purchased
AccrualForServicesRenderedAndGoodsPurchased
7537000 usd
CY2022Q4 opfi Accrual For Services Rendered And Goods Purchased
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8589000 usd
CY2023Q1 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
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CY2022Q4 us-gaap Employee Related Liabilities Current And Noncurrent
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CY2023Q1 us-gaap Accrued Rent Current And Noncurrent
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6332000 usd
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5985000 usd
CY2023Q1 us-gaap Accrued Liabilities Current And Noncurrent
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16871000 usd
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
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23220000 usd
CY2023Q1 us-gaap Operating Lease Cost
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1100000 usd
CY2022Q1 us-gaap Operating Lease Cost
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1100000 usd
CY2023Q1 us-gaap Sublease Income
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80000 usd
CY2023Q1 us-gaap Operating Lease Payments
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500000 usd
CY2022Q1 us-gaap Operating Lease Payments
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600000 usd
CY2023Q1 us-gaap Letters Of Credit Outstanding Amount
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0 usd
CY2022Q4 us-gaap Letters Of Credit Outstanding Amount
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0 usd
CY2023Q1 us-gaap Operating Lease Cost
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1100000 usd
CY2023Q1 us-gaap Sublease Income
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80000 usd
CY2023Q1 us-gaap Lease Cost
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1020000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1760000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2410000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2482000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2557000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2633000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
2713000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
4937000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
19492000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3310000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
16182000 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y6M
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05
CY2023Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
1700000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1978972 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.99
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y8M12D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1978972 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.99
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y4M24D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1181774 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
15.05
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P8Y3M18D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
0 usd
CY2023Q1 us-gaap Accrued Employee Benefits Current And Noncurrent
AccruedEmployeeBenefitsCurrentAndNoncurrent
100000 usd
CY2023Q1 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
24000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
100000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4100000 usd
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.036
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
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
7000 usd
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0.002
CY2023Q1 opfi Effective Income Tax Rate Reconciliation Excluding Tax Expense Benefit Share Based Payment Arrangement Percent
EffectiveIncomeTaxRateReconciliationExcludingTaxExpenseBenefitShareBasedPaymentArrangementPercent
0.034
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
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q1 opfi Reverse Recapitalization Ownership Interest Held Percent
ReverseRecapitalizationOwnershipInterestHeldPercent
0.139
CY2022Q1 opfi Reverse Recapitalization Ownership Interest Held Percent
ReverseRecapitalizationOwnershipInterestHeldPercent
0.122
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
40000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
20000 usd
CY2023Q1 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0 usd
CY2022Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0 usd
CY2023Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
10607000 usd
CY2022Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
6839000 usd
CY2023Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
764000 usd
CY2022Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
609000 usd
CY2023Q1 opfi Interest Expense And Amortized Debt Issuance Costs
InterestExpenseAndAmortizedDebtIssuanceCosts
11371000 usd
CY2022Q1 opfi Interest Expense And Amortized Debt Issuance Costs
InterestExpenseAndAmortizedDebtIssuanceCosts
7448000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
32185000 usd
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
39189000 usd
CY2023Q1 opfi Financing Receivables Accrued Interest And Fees After Allowance For Credit Loss
FinancingReceivablesAccruedInterestAndFeesAfterAllowanceForCreditLoss
12822000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
464000 usd
CY2023Q1 us-gaap Insurance Settlements Receivable
InsuranceSettlementsReceivable
2843000 usd
CY2023Q1 us-gaap Senior Notes
SeniorNotes
330744000 usd
CY2023Q1 us-gaap Other Long Term Debt
OtherLongTermDebt
808000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
16239000 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
33431000 usd
CY2022Q4 opfi Financing Receivables Accrued Interest And Fees After Allowance For Credit Loss
FinancingReceivablesAccruedInterestAndFeesAfterAllowanceForCreditLoss
15800000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
643000 usd
CY2022Q4 us-gaap Insurance Settlements Receivable
InsuranceSettlementsReceivable
2000000 usd
CY2022Q4 us-gaap Secured Debt
SecuredDebt
756000 usd
CY2022Q4 us-gaap Senior Notes
SeniorNotes
344688000 usd
CY2022Q4 us-gaap Other Long Term Debt
OtherLongTermDebt
1616000 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
CY2022Q1 us-gaap Loss Contingency Damages Paid Value
LossContingencyDamagesPaidValue
1500000 usd
CY2023Q1 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
0.04
CY2023Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
400000 usd
CY2022Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
400000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
251000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
1076000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
251000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1076000 usd
CY2023Q1 us-gaap Dilutive Securities
DilutiveSecurities
0 usd
CY2022Q1 us-gaap Dilutive Securities
DilutiveSecurities
0 usd
CY2023Q1 opfi Income Tax Expense Benefit Portion Attributable To Noncontrolling Interest
IncomeTaxExpenseBenefitPortionAttributableToNoncontrollingInterest
0 usd
CY2022Q1 opfi Income Tax Expense Benefit Portion Attributable To Noncontrolling Interest
IncomeTaxExpenseBenefitPortionAttributableToNoncontrollingInterest
-331000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
251000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
34000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15037326 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13581828 shares
CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
152569 shares
CY2022Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
70892129 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15189895 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
84473957 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
114394480 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
44405988 shares

Files In Submission

Name View Source Status
opfi-20230331_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
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0001818502-23-000007-index.html Edgar Link pending
0001818502-23-000007.txt Edgar Link pending
0001818502-23-000007-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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opfi-20230331.htm Edgar Link pending
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opfi-20230331x10xqex311.htm Edgar Link pending
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opfi-20230331_cal.xml Edgar Link unprocessable
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opfi-20230331_htm.xml Edgar Link completed
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