Oportun posts Q2 profit growth, raises full-year earnings outlook

Oportun Financial Corporation (Nasdaq: OPRT) reported second-quarter 2026 net income of $8.5 million, a 24% increase from $6.9 million in the same period a year earlier, according to a company press release.

Diluted earnings per share were $0.17, up from $0.14 in the prior-year quarter. Adjusted EBITDA rose 56% to $49 million from $31 million, while adjusted EPS grew 35% to $0.42 from $0.31.

Total revenue for the quarter was $233 million, roughly flat compared with $234 million a year earlier. Total operating expenses fell 5% to $90 million from $94 million, driven by reductions in technology, facilities, and general and administrative costs.

The company's 30-plus day delinquency rate stood at 4.0% at the end of the quarter, down from 4.4% in the prior-year period, which the company said was the lowest reading since the fourth quarter of 2021. The annualized net charge-off rate was 12.0%, compared with 11.9% a year earlier.

Aggregate originations for the quarter were $488 million, a 1% increase from $481 million in the prior-year quarter. The owned principal balance at quarter-end was $2.61 billion, down 1% from $2.64 billion a year earlier. Cost of debt declined to 6.3% from 8.6% in the prior-year quarter.

For the third quarter of 2026, Oportun guided for total revenue of $235 million to $240 million and adjusted EBITDA of $43 million to $48 million. For the full year, the company raised its adjusted EBITDA outlook to a range of $160 million to $175 million and projected adjusted net income of $74 million to $82 million, with adjusted EPS of $1.50 to $1.65. The company also narrowed its full-year annualized net charge-off rate expectation to 11.7%, plus or minus 30 basis points.

As of June 30, 2026, total cash was $212 million and the company had $880 million of undrawn capacity on its personal loan warehouse lines.

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