Enova International, Inc. · NYSE:ENVA
Enova International — Q3 2025 Earnings Presentation
36 slides from Enova International's earnings presentation, Oct 23, 2025
Slide 1: Investor Presentation Q3 2025
Investor Presentation Q3 2025 © Enova International, Inc.
Slide 2: Safe Harbor Statement
Safe Harbor Statement Cautionary Statement Regarding Risks and Uncertainties That May Affect Future Results This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about the business, financial condition and prospects of Enova.
Slide 3: Enova at a Glance
Enova at a Glance Founded in 2004, Enova is a leading financial services company providing online lending through its world-class analytics and machine learning algorithms. Enova has been listed on the New York Stock Exchange since 2014. 13M+ $65B+ $2.7B Customers Loans made 2024 served since since
Slide 4: Consistent Shareholder Returns and Value Opportunity
Consistent Shareholder Returns and Value Opportunity Strong Long-Term Shareholder Returns1 50% 10-Year Average Annual Total Shareholder Return 37% 2016-2025 40% 30% 20% 9% 12% 9% 7% 7% 10% 0% ENVA S&P 600 Small Cap S&P 600 Financial S&P 600 Cons. Russell 2000 Index Russell 2000 Index Sector Index Fi
Slide 5: Q3 2025 #WINS!
Balanced Growth and Execution Reflected in Financial Performance Q3 2025 #WINS! $2B $4.5B $3.36 28% Total company Ending receivables1 Q3 Adjusted EPS Q3 2025 Quarterly originations in Q3 Annualized ROE Meeting customer demand with 20% year-over-year growth 37% year-over-year growth in Third consecut
Slide 6: Our Mission Our Vision
Our Mission Helping hardworking people get access to fast, trustworthy credit. Our Vision Closing the world’s credit gap. © Enova International, Inc. 6
Slide 7: Enova Investment Highlights
Enova Investment Highlights Focus on Non–Prime Borrowers, a large, expanding market segment where we have deep experience Diversified Product Offerings unmatched across both underserved non-prime consumers and small businesses Approach to Unit Economics and deploying capital that has delivered indus
Slide 8: Our Products Meet the Needs of Underserved Populations
Our Products Meet the Needs of Underserved Populations Non-Prime consumers are frequently Non-Prime consumers have unexpected turned down by traditional banks and expenses and limited savings. credit unions. 37% 1 in 3 34% 4x Americans rejection rate of Americans cannot cover an 37% of US Adults of
Slide 9: Large Growth Opportunities in Non-Prime Markets
Large Growth Opportunities in Non-Prime Markets Total Unsecured Personal Loan Balances, by Risk Tier $269B1 Q3 2024 Q3 2025 U.S. Consumer Loans 12% 12% Subprime Enova < 1% of Loan Balances 22% 23% Near Prime 18% 18% Prime 23% 23% Prime Plus $279B 2 U.S. 25% 24% SMB Super Prime Loans Enova < 1% of Lo
Slide 10: Highly Flexible Online-Only Business Model
Highly Flexible Online-Only Business Model “More than half of U.S. consumers are conducting their banking via mobile apps more often than any other method. Consumers continue to embrace digital banking channels in 2024 with 55% of bank customers using apps on phones or other mobile devices as their
Slide 11: Enova Uses Diversified Multichannel Marketing
USER EXPERIENCE & CONVERSION Enova measures and monitors website visitor usage metrics Enova Uses and regularly tests website design strategies to improve customer experience and conversion rates. Diversified Multichannel DIGITAL ACQUISITION Online marketing efforts include PPC, display, Marketing S
Slide 12: Machine Learning Models and Automation Across the Customer Life Cycle
Machine Learning Models and Automation Are Applied Extensively Across the Customer Life Cycle The Colossus™ Analytics Engine creates a powerful competitive advantage ACQUISITION ML models trained on 40+ million data points predict likelihood of acquiring a new customer 90% COLLECTIONS FRAUD DETECTIO
Slide 13: Proprietary Technology With Better Predictive Performance
Proprietary Technology With Better Predictive Performance Than Traditional Credit Models Enova Credit Modeling: Performance vs Standard Scoring 1. ROC Curves—Receiver Operating Characteristics Curves (True Positives versus False Positives). This graph should not be considered to be an indicator of f
Slide 14: Strong Credit Performance Through Economic Downturn
Strong Credit Performance Through Economic Downturn Enova’s consistent performance, even amid recent unprecedented times, reflects our solid risk management capabilities on our world-class analytics and technology. Consumer Loans1,2,3,4 20.0% 15.0% 10.0% 5.0% —% >30 days delinquent as a % of combine
Slide 15: Improved Portfolio Risk Profile
Improved Portfolio Risk Profile Enova’s powerful combination of diversified product offerings, world-class risk management capabilities and sophisticated unit economics framework has led to a reduced risk profile while maintaining healthy margins. Total Company Metrics1,2,3 20.0% 80.0% Total Company
Slide 16: Demonstrated Ability to Diversify While Delivering Returns
Demonstrated Ability to Diversify While Delivering Returns Combined Receivables and Returns1,2 $5,000 45% $4,500 40% $4,000 35% $3,500 30% $3,000 25% $2,500 20% $2,000 15% $1,500 10% $1,000 $500 5% $0 0% 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q3 2025 Consumer Installment Loans Consumer Line of
Slide 17: Small Business
Small Business © Enova International, Inc. 17
Slide 18: Diverse Portfolio of Established Small Businesses
Diverse Portfolio of Established Small Businesses ~315K $583K 11.5yrs Diversified Broad Unique small business Median annual revenue Weighted avg. time in Across 900+ industries National Presence clients business Portfolio Balance by Industry1 Reasons for Seeking Business Funding2 Construction Genera
Slide 19: SMB Total Addressable Market (TAM)
SMB Total Addressable Market (TAM) U.S. Small & Medium-Sized Businesses U.S. Commercial & Industrial Loan Portfolio (at FDIC-insured institutions only) +34M $279B 4 99.9% of Businesses Business loans under $250K in the U.S. are SMBs1 +314K +$2.8B3 “75% of loan applications are less than $250K” 2 Eno
Slide 20: Enova Helps Small Business Owners Gain Access to Capital
Enova Helps Small Business Owners Gain Access to Capital Small Business Gross Accounts Receivable1,2 ($ in Millions) $2,974 $2,484 $2,352 $2,050 $1,797 $1,017 $691 $181 $86 $80 $85 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q3 2024 Q3 2025 1. Includes OnDeck originations beginning Q4 2020 after ac
Slide 21: Consumer
Consumer © Enova International, Inc. 21
Slide 22: Enova Is A Market-Leading U.S. Non-Prime Lender
Enova Is A Market-Leading U.S. Non-Prime Lender 10.6M+ 589 $42K 33% Diversified Broad Total Consumers Weighted Average Average Personal Homeownership Across Non-Prime National Presence Served To Date Vantage® Score Income Consumers Top Non-Prime Loan Use: Customer response to ”How would you describe
Slide 23: U.S. Consumer Total Addressable Market (TAM)
U.S. Consumer Total Addressable Market (TAM) U.S. Subprime Unsecured U.S. Commercial & Industrial Loan Portfolio (at FDIC-insured institutions only) +$32B 1 +$49B 1 Over 12% of U.S. Borrowers Over 18% of U.S. Borrowers Have Subprime Credit1 ~1% ~2% Have Near Prime Credit1 Estimated Estimated NetCred
Slide 24: High Quality Consumer Products to Close the Credit Gap
High Quality Consumer Products to Close the Credit Gap ($ in Millions) Consumer Gross Accounts Receivable1,2 $1,547 $1,507 $1,413 $1,263 $1,086 $1,056 $941 $869 $782 $607 $629 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q3 2024 Q3 2025 1. Gross Accounts Receivables are end of period balances. 2. Da
Slide 25: Trusted Products Drive High-Rated Reviews
Trusted Products Drive High-Rated Reviews Online Reviews via TrustPilot as of October 2025 © Enova International, Inc. 25
Slide 26: Financial Performance
Financial Performance © Enova International, Inc. 26
Slide 27: History of Consistent Revenue and Profit Growth
History of Consistent Revenue and Profit Growth $3,000 Gross Revenue For All Brands1,2,3 $2,500 ($ in Millions) $2,000 $1,500 $3,042 $2,658 $1,000 $2,118 $1,736 $500 $973 $1,175 $1,084 $1,208 $746 $844 $- FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 LTM Q3 2025 $800 Adjust
Slide 28: Demonstrated Operating Leverage
Demonstrated Operating Leverage Enova Key Metrics1,2,3 $4,500 $4,250 $4,000 $3,750 CAGR: 25% $3,500 $3,250 $3,000 $2,750 $2,500 $2,250 CAGR: 19% $2,000 $1,750 $1,500 $1,250 CAGR: $1,000 12% $750 $500 $250 $0 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 LTM Q3 2025 Loans an
Slide 29: Balance Sheet Flexibility Is a Source of Strength
Balance Sheet Flexibility Is a Source of Strength Funding Mix and Capacity1 Enova Debt Maturities2 $816 $1,400 $944 $1,200 $1,346 $659 $1,000 $1,044 $533 $606 $800 $300 $1,344 $600 $1,061 $1,195 $215 $488 $24 $225 $1,031 $111 $400 $561 $309 $453 $320 $357 $454 $542 $93 $87 $249 $201 $310 $400 $500 $
Slide 30: Appendix
Appendix © Enova International, Inc. 30
Slide 31: Proactive Global Compliance Capabilities
Enova has a compliance framework that includes: Proactive ● Focus on tone from the top to instill an ethical culture Global ● Centralized team led by experienced compliance professionals: Compliance ○ Chief Compliance Officer reports directly to Board of Directors Capabilities ○ Multiple CRCM/CAMS a
Slide 32: Key Changes to Financial Reporting Under Fair Value
Key Changes to Financial Reporting Under Fair Value Balance Sheet Income Statement (+) Day 1 (-) Realized Revenue (-) Net (+) (-) Change in Gain on Value on Existing – Change in Fair Value Charge Offs FV Assumptions Originations Receivables Net Revenue Net Revenue Margin % (+) Higher originated prin
Slide 33: Consolidated Income Statements
Consolidated Income Statements Consolidated Statements of Income 12 Mo. Ended 12 Mo. Ended 12 Mo. Ended 12 Mo. Ended 12 Mo. Ended YTD (in millions) Dec. 31, Dec. 31, Dec. 31, Dec. 31, Dec. 31, Sept. 30, 2020 2021 2022 2023 2024 20252 Revenue $1,084 $1,208 $1,736 $2,118 $2,658 $2,312 Cost of Revenue
Slide 34: Consolidated Balance Sheets
Consolidated Balance Sheets Consolidated Balance Sheets As of As of As of As of As of As of (in millions) Dec. 31, Dec. 31, Dec. 31, Dec. 31, Dec. 31, Sept. 30, 2020 2021 2022 2023 2024 20252 Assets Cash and restricted cash $369 $226 $178 $377 $323 $357 Loans and finance receivables, net 1,242 1,965
Slide 35: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Net Income to Adjusted EBITDA 12 Mo. Ended 12 Mo. Ended 12 Mo. Ended 12 Mo. Ended 12 Mo. Ended 12 Mo. Ended (in millions) Dec. 31, Dec. 31, Dec. 31, Dec. 31, Dec. 31, Sept. 30, (unaudited) 2020 2021 2022 2023 2024 2025 Net income $378.1 $253.7 $207.4 $17
Slide 36: Thank you
Customer first. Best answer wins. Operate as an owner. Thank you. Accountable for results. Top talent and teamwork.