OPRTHIGH SIGNALFINANCIAL10-K

OPRT achieved a dramatic turnaround from a $78.7M net loss to $25.2M profit while significantly expanding its lending footprint and geographic reach.

This represents a complete operational turnaround for Oportun, demonstrating the company has successfully pivoted from losses to profitability while simultaneously scaling its business. The combination of massive cost reduction (36% SG&A decrease) with business expansion suggests strong operational leverage and improved unit economics that could drive sustained profitability.

Comparing 2026-02-27 vs 2025-02-20View on EDGAR →
FINANCIAL ANALYSIS

OPRT delivered exceptional financial performance with a $103.9M improvement in net income from negative $78.7M to positive $25.2M, while dramatically reducing operating expenses by 36% and strengthening its balance sheet with 76% cash growth to $105.5M. The company simultaneously reduced capital expenditures by 51% while expanding operations, indicating highly efficient capital allocation and strong cash generation. This financial transformation, combined with expanded lending volume ($19.7B to $21.8B) and geographic footprint, signals OPRT has achieved sustainable operational leverage and profitability.

FINANCIAL STATEMENT CHANGES
Net Income
P&L
+132.1%
-$78.7M→$25.2M

Net income grew 132.1% — bottom-line growth signals improving overall business health.

Cash & Equivalents
Balance Sheet
+76%
$60.0M→$105.5M

Cash position surged 76% — strong cash generation or capital raise providing significant financial cushion.

Capital Expenditure
Cash Flow
-51.2%
$12.3M→$6.0M

Capex reduced 51.2% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

SG&A Expense
P&L
-36.1%
$53.2M→$34.0M

SG&A reduced 36.1% — improved cost efficiency or headcount reduction improving operating margins.

Stockholders Equity
Balance Sheet
+10.3%
$353.8M→$390.1M

Equity base grew 10.3% — retained earnings accumulation or equity issuance strengthening the balance sheet.

LANGUAGE CHANGES
NEW — 2026-02-27
PRIOR — 2025-02-20
ADDED
34 ) 57 Consolidated Balance Sheets 59 Consolidated Statements of Operations 60 Consolidated Statements of Changes in Stockholders' Equity 61 Consolidated Statements of Cash Flow 62 Notes to the Consolidated Financial Statements 63 Item 9.
Credit Products Since our founding in 2005, we have extended more than $21.8 billion in responsible credit through more than 8.0 million loans and credit cards, and helped over 1.3 million people who came to Oportun without a FICO score to begin establishing a credit history.
While many of the people who come to us are not well served by mainstream financial institutions due to limited credit history, we use billions of proprietary data points to score 100% of our loan applicants and offer our members responsibly designed and affordable credit products that are often otherwise unavailable to them.
Available only in California as of the end of 2023, Oportun now also offers secured personal loans ("SPL") in Texas, Florida, Arizona, New Jersey, Illinois, Nevada and Utah; however, through our partnership with Pathward, we have the opportunity to expand the coverage of our Secured Personal Loans up to approximately an additional 33 states.
We may seek to add additional Lending as a Service partners in the future, similar to our current partnerships with DolEx Dollar Express, Inc., Barri Financial Group (now consolidated into a single company DolFinTech ), and Western Union where we collect leads from 465 of their retail locations.
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REMOVED
34 ) 60 Consolidated Balance Sheets 62 Consolidated Statements of Operations 63 Consolidated Statements of Changes in Stockholders' Equity 64 Consolidated Statements of Cash Flow 65 Notes to the Consolidated Financial Statements 66 Item 9.
Our business has in the past been subject to the regulatory framework applicable to registered investment advisers, including regulation by the Securities and Exchange Commission (the SEC ).
In 2024, the Financial Health Network ("FHN") reported that more than two-thirds of U.S.
households "struggle with spending, saving, borrowing and planning" according to its Financial Health Pulse 2024 U.S.
Credit Products Since our founding in 2005, we have extended more than $19.7 billion in responsible credit through more than 7.4 million loans and credit cards, and helped over 1.2 million people who came to Oportun without a FICO score to begin establishing a credit history .
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