OppFi Inc (NYSE:OPFI) Q4 2022 Earnings Conference Call March 23, 2023 4:30 PM ET

Company Participants

Shaun Smolarz - Head, Investor Relations

Todd Schwartz - Chief Executive Officer and Executive Chairman

Pam Johnson - Chief Financial Officer

Conference Call Participants

Mike Grondahl - Northland Securities

David Scharf - JMP Securities

Chris Brendler - D.A. Davidson

Operator

Good afternoon and welcome to OppFi’s Fourth Quarter 2022 Earnings Conference Call. All participants are in a listen-only mode. As a reminder, this conference call is being recorded. [Operator Instructions] And it is now my pleasure to introduce your host, Shaun Smolarz, Head of Investor Relations. Thank you, sir. You may begin.

Shaun Smolarz

Thank you, operator. Good afternoon. On today’s call are Todd Schwartz, Chief Executive Officer and Executive Chairman, and Pam Johnson, Chief Financial Officer. Our fourth quarter 2022 earnings press release and supplemental presentation can be found at investors.oppfi.com.

During this call, OppFi will discuss certain forward-looking information. These forward-looking statements are based on assumptions and assessments made by OppFi’s management in light of their experience and assessment of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Any forward-looking statements made during this call are made as of today and OppFi undertakes no duty to update or revise any such statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results, developments and business decisions to differ materially from forward-looking statements are described in the company’s filings with the Securities and Exchange Commission, including the sections entitled Risk Factors.

In today’s remarks by management, the company will discuss certain non-GAAP financial metrics. A reconciliation of these non-GAAP financial measures to the most comparable GAAP measures can be found in the earnings press release issued earlier this afternoon. This call is being webcast live and will be available for replay on our website.

I would now like to turn the call over to Todd Schwartz.

Todd Schwartz

Thanks, Shaun and good afternoon everyone. We’re excited to begin 2023, and we believe our business continues to stabilize and strengthen. As founder of OppFi, I returned as CEO a year ago and immediately took steps to enhance our leadership team as well as talent in key roles throughout the company.

While the macro environment in 2022 was challenging in many ways, we persevered with resiliency, focus, and a relentless emphasis on improvement. As a result, despite significant economic headwinds, including a 40-year peak in inflation, we delivered record net originations, total revenue, and ending receivables for the full year. As a result, we achieved our eighth consecutive year of profitability, exceeding our profitability guidance for 2022.