OppFi Inc. (NYSE:OPFI) Q3 2023 Earnings Conference Call November 9, 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

David Scharf – JMP Securities

Mike Grondahl – Northland Securities

Operator

Good afternoon, and welcome to OppFi’s Third Quarter 2023 Earnings Conference Call. All participants are in listen-only mode. As a reminder, this conference call is being recorded. After management’s presentation, there will be a question-and-answer session. [Operator Instructions]

It is now my pleasure to introduce your host, Shaun Smolarz, Head of Investor Relations. You may now 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 third quarter 2023 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 United States 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.

Todd Schwartz

Thanks, Shaun, and good afternoon, everyone. I’m very excited to discuss our third quarter results, which demonstrate that we are achieving the goals that we set out to accomplish. For the second consecutive quarter, our earnings significantly rebounded year-over-year while we generated solid revenue growth.

Throughout this year, we have continued to make impactful adjustments to credit models with our bank partners that have resulted in improved credit performance and accelerated earnings growth. We believe the portfolio is as strong as it has ever been from a credit profile perspective, which gives me confidence in continued credit performance and earnings growth prospectively.