OppFi reported lower revenue and earnings for the third quarter of 2026 compared with a year earlier, while continuing to broaden its lending products. The digital finance company said it launched a line of credit, advanced the migration to its LOLA technology platform and repurchased $6.7 million of its common stock during the quarter.
For the nine months through September, revenue was modestly higher than in 2025, but adjusted earnings and adjusted earnings per share were lower. The company’s reported net income attributable to OppFi rose sharply for the nine-month period, though the prior-year figure was substantially smaller.
Key details
- Third-quarter revenue declined 3.8% to $149.2 million from $155.1 million a year earlier.
- Net income was $34.5 million, down 54.6% from $75.9 million. Net income attributable to OppFi was $34.5 million, compared with $41.6 million a year earlier, a 17.2% decline.
- Adjusted net income, a non-GAAP measure, fell 22.5% to $31.6 million from $40.7 million. Adjusted EPS declined 20.1% to $0.37.
- Third-quarter GAAP EPS was $0.41 basic and $0.40 diluted. A year earlier, basic EPS was $1.48 and diluted EPS was $0.77.
- For the first nine months of 2026, revenue increased 1.9% to $446.3 million from $437.8 million. Net income was $104.1 million, down 3.4% from $107.8 million.
- Nine-month net income attributable to OppFi was $77.7 million, compared with $9.5 million in the same period of 2025. Basic EPS rose to $1.29 from $0.36, and diluted EPS rose to $1.14 from $0.36.
- Adjusted results were weaker over the nine-month period: adjusted net income fell 20.7% to $90.4 million, while adjusted EPS declined 18.6% to $1.05.
- OppFi repurchased $6.7 million of common stock during the third quarter under its share repurchase program. The company did not state in the announcement the number of shares bought or the average price paid.
- The new line of credit expands OppFi’s product offering. The company described the launch as a milestone in broadening its suite of financial products and said it is also pursuing product and pricing initiatives intended to widen customer choice.
- The company is continuing its migration to the LOLA platform and other product-development work, which it says are part of its effort to build a more diversified, technology-enabled financial platform.
Plain-English implications
OppFi is pairing investment in new products and technology with share repurchases. The quarter’s results show that this expansion came alongside lower year-over-year revenue and earnings; for the first nine months, revenue growth was slight and adjusted earnings declined.