Oportun Financial Corporation · NASDAQ:OPRT
Oportun Financial — Investor Presentation (March 2026)
41 slides from Oportun Financial's investor presentation, March 2026
Slide 1: Investor Presentation March 2026
Investor Presentation March 2026
Slide 2: Forward-looking statements
Forward-looking statements This presentation and the accompanying oral presentation contain forward-looking statements. All statements other than statements of historical fact contained in this presentation and the accompanying oral presentation, including statements as to future performance, result
Slide 3: Company Overview
Company Overview
Slide 4: Overview of Oportun Financial (Nasdaq: OPRT)
Company Overview Overview of Oportun Financial (Nasdaq: OPRT) We provide intelligent borrowing and savings capabilities to help our members build a better financial future • Oportun offers products that holistically address two of the most Select FY25 Financial Data fundamental challenges to financi
Slide 5: Mission and Target Market
Company Overview Borrowing, savings and budgeting for hardworking individuals Unsecured Secured Mission Empowering members to build a better future Personal Loans Personal Loans Savings Comprehensive Unique Servicing Strong Customer Proprietary Award Winning Physical and Digital and Collections Valu
Slide 6: Addressing the biggest challenges facing U.S. consumers
Company Overview Addressing the biggest challenges facing U.S. consumers of U.S. households struggle with 70% spending, saving, borrowing and planning(2) 59% would struggle to come up with 75% $1,000 in an emergency(3) 51% had bank-related account fees in the past year(4) of Americans do not feel th
Slide 7: Responsibly structured credit products
Company Overview Responsibly structured credit products Member Solution Unsecured Personal Loans Secured Personal Loans Simple-to-understand, affordable, Personal installment loan product Use Case unsecured, fully-amortizing installment secured by an automobile, allowing loans with fixed payments me
Slide 8: Compelling customer value proposition compared to the alternatives
Company Overview Compelling customer value proposition compared to the alternatives Cost of borrowing $1,500(6) Positive social impact Approx. $2,000 savings $3,562 $3,490 $3,141 $2,439 $1,310 $1,027 $2,495 1.3M $498 Credit histories Online-only Online Single-Pay Payday Rent to Own Installment Weigh
Slide 9: Credit Risk Platform Enables Highly Granular Decision Making and Competitive Advantage
Company Overview Credit Risk Platform Enables Highly Granular Decision Making and Competitive Advantage 100% centralized, automated underwriting with no overrides or exceptions Billions of data points analyzed using A.I. (machine learning) to develop credit and fraud models 1,000+ end nodes 3 indepe
Slide 10: Multi-channel loan originations
Company Overview Multi-channel loan originations... 53% of FY25 applicants used more than one channel to apply; 78% utilized Mobile / Digital channel for at least part of their applications, even if they initiated in Retail or with a Contact Center Loan Origination Channels* Mix Channel Scale • Reta
Slide 11: …and multi-channel loan servicing
Company Overview …and multi-channel loan servicing While 90% of payments received during 4Q25 were made via either debit or ACH, Oportun also offers over 100K partner payment locations, in addition to Oportun-branded retail stores Payment Channels Payment Channel Distribution * Partner Payment Locat
Slide 12: Savings remains a 2026 priority
Company Overview Savings remains a 2026 priority Problem #1 Savings App of 2025 59% according to Bankrate 9 Best Money-Saving of U.S. consumers would struggle to come up with $1,000 in the event of an emergency(3) Apps of 2025 Solution Excellent Personal Finance Apps A.I.-driven saving according to
Slide 13: Strategic Priorities
Strategic Priorities
Slide 14: Consistent strategic focus delivering measurable results
Strategic Priorities Consistent strategic focus delivering measurable results Improving Credit Strengthening Identifying Outcomes Business Economics High-Quality • Increased proportion of returning • FY25 Adjusted ROE of 17.5% up 10 Originations member originations from 64% in ppt; progressing towar
Slide 15: Disciplined credit stance reflects member stability
Strategic Priorities Disciplined credit stance reflects member stability Strong employment and residential stability, with 95% of loans disbursed to U.S. bank accounts Income Verified 100% Of applicants, ~$56K median gross income Loan Disbursement 95% Of borrowers receive in U.S. bank accounts Emplo
Slide 16: Fourth quarter 2025 credit performance
Strategic Priorities Fourth quarter 2025 credit performance Annualized NCO rate of 12.3% increased as anticipated, yet landed at the low end of guidance range; 30+ Day DQ rate increased modestly year-over-year NCO Rate 30+ Day Delinquency Rate 60bps 13bps 12.3%-12.6% 12.3% 4.8% 4.7% 4.9% 11.7% 11.8%
Slide 17: Financial Overview
Financial Overview
Slide 18: 4Q25 earnings overview
Financial Overview 4Q25 earnings overview FY26 Adjusted EPS guidance range reflects 16% growth at the midpoint FY25 performance • Adjusted EPS guidance range of provides strong $1.50-$1.65 momentum • Adjusted EBITDA guidance range of Consistently GAAP • Met or outperformed each fourth quarter $150-$
Slide 19: Attractive unit economic model
Financial Overview Attractive unit economic model FY 2025 Adjusted ROE of 17.5% was nearly a 10 percentage point Y/Y improvement from 7.7% in FY 2024 FY 2025 Metric Target Illustrative Unit Economics as a % of Average Daily Principal Balance Corporate Level Profitability 35% 36% Fair Value Marks: 1%
Slide 20: Fourth quarter and full year 2025 capital and liquidity
Financial Overview Fourth quarter and full year 2025 capital and liquidity Reduced FY25 corporate debt outstanding by $70M (30%) while increasing unrestricted cash by $46M (76%); $485M February 2026 ABS transaction is fourth consecutive to achieve sub-6% funding cost Sources of Liquidity ($M) Fixed
Slide 21: First quarter and Full Year 2026 guidance
Financial Overview First quarter and Full Year 2026 guidance 1Q 2026E FY 2026E Total Revenue $225 - $230M $935 - $955M Annualized Net Charge-off Rate (%) 12.65% +/- 15 bps 11.9% +/- 50 bps Adjusted EBITDA* $25 - $30M $150 - $165M Adjusted Net Income* — $74 - $82M Adjusted EPS* — $1.50 - $1.65 * See
Slide 22: Management Team
Management Team
Slide 23: Expertise Across Products and Industries
Management Team Expertise Across Products and Industries Raul Vazquez Patrick Kirscht Kathleen Layton Paul Appleton Chief Executive Officer and Chief Credit Officer Chief Legal Officer Treasurer, Head of Capital Markets Board Member 15+ years in Corporate and and Interim Chief Financial Officer 25+
Slide 24: Appendix
Appendix
Slide 25: Key definitions
Appendix Key definitions • 30+ Day Delinquency Rate is the unpaid principal balance for our owned loans and credit cards receivable that are 30 or more calendar days contractually past due as of the end of the period divided by Owned Principal Balance as of such date • Adjusted EBITDA is a non-GAAP
Slide 26: Key definitions (cont’d)
Appendix Key definitions (cont’d) • Customer Acquisition Cost (or "CAC") is calculated as sales and marketing expenses, which include the costs associated with various paid marketing channels, including direct mail, digital marketing and brand marketing and the costs associated with our telesales an
Slide 27: Key financial & operating metrics
Appendix Key financial & operating metrics Quarter Ended Year Ended December 31 Change Change 4Q25 3Q25 2Q25 1Q25 4Q24 Y/Y 2025 2024 Y/Y Aggregate Originations (Millions) $494.9 $511.8 $480.8 $469.4 $522.2 (5.2)% $1,956.8 $1,775.3 10.2% Portfolio Yield (%) 33.3% 33.0% 32.8% 33.0% 34.2% (87)bps 33.1%
Slide 28: Condensed consolidated income statement
Appendix Condensed consolidated income statement Quarter Ended Year Ended December 31 Change Change ($ Millions, except per share data. Shares in Millions) 4Q25 3Q25 2Q25 1Q25 4Q24 Y/Y 2025 2024 Y/Y Interest income $232.4 $222.3 $218.3 $220.2 $233.5 (0.5)% $893.2 $925.5 (3.5)% Non-interest income 15
Slide 29: Condensed consolidated balance sheet
Appendix Condensed consolidated balance sheet Quarter Ended Change ($ Millions) 4Q25 3Q25 2Q25 1Q25 4Q24 Y/Y Cash and cash equivalents $105.5 $104.6 $96.8 $78.5 $60.0 76.0% Restricted cash 93.4 119.3 131.4 152.4 154.7 (39.6)% Total cash $198.9 $224.0 $228.2 $231.0 $214.6 (7.3)% Loans receivable at f
Slide 30: Adjusted EBITDA reconciliation
Appendix Adjusted EBITDA reconciliation Quarter Ended Year Ended December 31, Change Change ($ Millions) 4Q25 3Q25 2Q25 1Q25 4Q24 Y/Y 2025 2024 Y/Y Net income (loss) $3.4 $5.2 $6.9 $9.8 $8.7 (61.0)% $25.2 $(78.7) NM Adjustments: Income tax expense (benefit) 3.2 9.0 3.2 3.4 (4.8) NM 18.8 (36.5) NM In
Slide 31: Adjusted net income reconciliation
Appendix Adjusted net income reconciliation Quarter Ended Year Ended December 31, Change Change ($ Millions) 4Q25 3Q25 2Q25 1Q25 4Q24 Y/Y 2025 2024 Y/Y Net income (loss) $3.4 $5.2 $6.9 $9.8 $8.7 (61.0)% $25.2 $(78.7) NM Adjustments: Income tax expense (benefit) 3.2 9.0 3.2 3.4 (4.8) NM 18.8 (36.5) N
Slide 32: Adjusted operating expense and adjusted operating expense ratio reconciliation
Appendix Adjusted operating expense and adjusted operating expense ratio reconciliation Quarter Ended Year Ended December 31, Change Change ($ Millions) 4Q25 3Q25 2Q25 1Q25 4Q24 Y/Y 2025 2024 Y/Y OpEx Ratio 12.0% 13.5% 14.2% 13.9% 13.1% 13.4% 14.8% Total operating expense $83.8 $90.8 $94.4 $92.7 $89
Slide 33: Risk adjusted net interest margin reconciliation
Appendix Risk adjusted net interest margin reconciliation Quarter Ended Year Ended December 31, Change Change ($ Millions) 4Q25 3Q25 2Q25 1Q25 4Q24 Y/Y 2025 2024 Y/Y Total Revenue 247.7 238.7 234.3 235.9 250.9 (1.3)% 956.7 1,001.8 (4.5)% Less: Interest Expense 57.9 56.6 59.5 57.4 57.1 (1) 1.5% 231.5
Slide 34: Basic and diluted earnings per share reconciliation
Appendix Basic and diluted earnings per share reconciliation Quarter Ended Year Ended December 31 Change Change ($ Millions, except per share data. Shares in Millions) 4Q25 3Q25 2Q25 1Q25 4Q24 Y/Y 2025 2024 Y/Y Net income (loss) $3.4 $5.2 $6.9 $9.8 $8.7 (61.0)% $25.2 $(78.7) NM Net income (loss) att
Slide 35: Adjusted earnings per share reconciliation
Appendix Adjusted earnings per share reconciliation Quarter Ended Year Ended December 31 Change Change ($ Millions, except per share data. Shares in Millions) 4Q25 3Q25 2Q25 1Q25 4Q24 Y/Y 2025 2024 Y/Y Diluted earnings (loss) per share $0.07 $0.11 $0.14 $0.21 $0.20 (65.0)% $0.53 $(1.95) NM Adjusted
Slide 36: Net change in fair value
Appendix Quarter Ended Change $ Millions 4Q25 3Q25 4Q24 3Q24 Q/Q Y/Y Net change Loan Portfolio Drivers Discount rate 6.3% 6.3% 7.9% 8.3% —% (1.7)% in fair value Remaining cumulative charge-offs as a % of principal balance Average life in years 12.3% 1.06 12.2% 1.07 11.7% 1.11 11.9% 1.11 —% -0.01 0.6
Slide 37: Net lifetime loan loss rates by vintage
Appendix Net lifetime loan loss rates by vintage Cumulative Net Principal Charge-offs Year of Origination 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Dollar Weighted Average Original Term for Vintage (Months) 22.3 24.2 26.3 29.0 30.0 32.0 33.3 37.8 39.2 35.6 Net Lifetime Loan Losses as % of Or
Slide 38: Forward-looking adjusted EBITDA reconciliation
Appendix Forward-looking adjusted EBITDA reconciliation 1Q 2026 FY 2026 ($ Millions) Low High Low High Net income $1.0 * $4.9 * $51.4 $59.8 Adjustments: Income tax expense (benefit) 0.3 1.5 15.4 17.9 Interest on corporate financing 7.7 7.7 28.7 28.7 Depreciation and amortization 9.0 9.0 35.4 35.4 St
Slide 39: Forward-looking adjusted net income and adjusted earnings per share reconciliation
Appendix Forward-looking adjusted net income and adjusted earnings per share reconciliation FY 2026 ($ Millions, except per share data. Shares in Millions) Low High Net Income $51.4 $59.8 Adjustments: Income tax expense (benefit) 15.4 17.9 Stock-based compensation expense 13.8 13.8 Other non-recurri
Slide 40: Endnotes
Appendix Endnotes 1. Bankrate’s Financial Freedom survey, July 2024 2. Financial Health Network (FHN): “Financial Health Pulse™ 2024 U.S. Trends Report” 3. Bankrate’s 2025 Annual Emergency Savings Report, February 2025 4. Financial Health Network: “The FinHealth Spend Report 2023” 5. Yahoo Finance/M
Slide 41: Investor Contact
Investor Contact Dorian Hare 650-590-4323 ir@oportun.com
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