Enova International, Inc. · NYSE:ENVA
Enova International — Q1 2025 Earnings Presentation
36 slides from Enova International's earnings presentation, Apr 29, 2025
Slide 1: Investor Presentation Q1 2025
Investor Presentation Q1 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. 12.3M+ $61.6B+ $2.7B Customers served Loans made 2024 since 20
Slide 4: Consistent Shareholder Returns and Value Opportunity
Consistent Shareholder Returns and Value Opportunity Strong Long-Term Shareholder Returns 10-Year Average Annual Total Shareholder Return 39% 2015-2024 40% 30% 20% 12% 10% 8% 7% 7% 7% 0% ENVA S&P 600 Small Cap Russell 2000 Index S&P 600 Consumer S&P 600 Financial Russell 2000 Index Finance Index Sec
Slide 5: Q1 2025 #WINS!
Balanced Growth and Execution Reflected in Financial Performance Q1 2025 #WINS! $1.7B+ $4.1B $746M $2.98 Total company originations Ending receivables1 Q1 2025 Revenue Q1 Adjusted EPS in Q1 Meeting customer 20% year-over-year Revenue grew 22% year- 56% year-over-year demand with strong unit growth o
Slide 6: Helping hardworking people get access to fast, trustworthy credit
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– Diversified Product Approach to Unit Highly Flexible Prime Borrowers, Offerings Economics Online-Only a large, expanding market unmatched across both and deploying capital that Business Model segment where we have deep underserved nonprime has delivered indu
Slide 8: Our Products Meet the Needs of Underserved Populations
Our Products Meet the Needs of Underserved Populations Non-Prime consumers have Non-Prime consumers are frequently unexpected expenses and limited turned down by traditional banks and savings. credit unions. 37% +3x 34% 4x per rejection year rate of Americans cannot Over half of non-prime of small b
Slide 9: Large Growth Opportunities in Non-Prime Markets
Large Growth Opportunities in Non-Prime Markets 2 $253B $271B 1 U.S. Consumer Loans U.S. SMB Loans Enova < 1% of Loan Balances Enova < 1% of Loan Balances Total Unsecured Personal Loan Balances, by Risk Tier Q1 2024 Q1 2025 13% 12% 20% 23% Subprime Near Prime 18% 19% Prime Prime Plus 23% 23% Super P
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
Enova Uses Diversified Multichannel Marketing Multichannel marketing creates flexibility to optimize customer acquisition and builds longer-term customer relationships USER EXPERIENCE & CONVERSION Enova measures and monitors website visitor usage metrics and regularly test website design strategies
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 powerful competitive advantage ACQUISITION ML models trained on 40+ ACQUISITION million data points predict likelihood of acquiring a new customer FRAUD COLLECTIONS DE
Slide 13: Proprietary Technology With Better Predictive Performance Than Traditional Credit Models
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% Adjusted EBITD
Slide 16: Demonstrated Ability to Diversify while Delivering Returns
Demonstrated Ability to Diversify while Delivering Returns ($ in Millions) Combined Receivables and Returns1,2 $4,500 45% $4,000 40% $3,500 35% $3,000 30% $2,500 25% $2,000 20% $1,500 15% $1,000 10% $500 5% $0 0% 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q1 2025 Consumer Installment Loans Consume
Slide 17: Small Business
Small Business © Enova International, Inc. 17
Slide 18: Diverse Portfolio of Established Small Businesses
Diverse Portfolio of Established Small Businesses 287K+ $600K 11.3yrs Unique small Median annual Weighted avg. business clients revenue time in business Diversified Broad Across 900+ Industry Presence industries Portfolio Balance by Industry1 Reasons for Seeking Business Funding2 \ Construction Gene
Slide 19: SMB Total Addressable Market (TAM)
SMB Total Addressable Market (TAM) U.S. Small & Medium-Sized U.S. Commercial & Industrial Businesses Loan Portfolio (at FDIC-insured institutions only) +34M $271B 4 Business loans under $250K 99.9% of Businesses in the U.S. are SMBs1 2 “75% of loan applications are less than $250K” +287K $2.6B 3 Eno
Slide 20: Enova Helps Small Business Owners Gain Access to Capital
Enova Helps Small Business Owners Gain Access to Capital Small Business Gross Accounts Receivable1,2 ($ in Millions) $2,668 $2,484 $2,230 $2,050 $1,797 $1,017 $691 $181 $86 $80 $85 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q1 2024 Q1 2025 © Enova International, Inc. 20
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 9.6M+ 588 $40K 33% Total Consumers Weighted Average Average Personal Homeownership Served To Date Vantage® Score Income Diversified Broad Across Non-Prime National Presence 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. Near Prime +$30B +$45B 1 1 Over 12% of U.S. Over 18% of U.S. Borrowers Have Subprime Borrowers Have Near Credit1 Prime Credit1 ~1% ~2% Estimated Estimated CashNetUSA share NetCredit share of Subprime of Near Prime market marke
Slide 24: High Quality Consumer Products to Close the Credit Gap
High Quality Consumer Products to Close the Credit Gap ($ in Millions) Consumer Gross Accounts Receivable1,2 $1,507 $1,467 $1,263 $1,222 $1,086 $1,056 $941 $869 $782 $607 $629 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q1 2024 Q1 2025 © Enova International, Inc. 24
Slide 25: Trusted Products Drive High-Rated Reviews
Trusted Products Drive High-Rated Reviews Online Reviews via Trust Pilot as of January 2025 © Enova International, Inc. 25
Slide 26: Financial Performance
Financial Performance © Enova International, Inc. 26
Slide 27: History of Consistent Revenue and Profit Growth
History of Consistent Revenue and Profit Growth 1,2.3 ($ in Millions) Gross Revenue For All Brands $3,000 $2,500 $2,000 $1,500 $2,658 $2,793 $1,000 $2,118 $1,736 $500 $1,175 $1,084 $1,208 $746 $844 $973 $0 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 LTM Q1 2025 ($ in Mill
Slide 28: Demonstrated Operating Leverage
Demonstrated Operating Leverage 1,2,3 ($ in Millions) Enova Key Metrics $4,250 $4,000 $3,750 $3,500 CAGR: 26% $3,250 $3,000 $2,750 $2,500 $2,250 $2,000 CAGR: 20% $1,750 $1,500 $1,250 $1,000 CAGR: 12% $750 $500 $250 $0 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 LTM Q1 202
Slide 29: Balance Sheet Flexibility is a Source of Strength
Balance Sheet Flexibility is a Source of Strength Funding Mix and Capacity1 Enova Debt Maturities2 ($ in Millions) $944 $810 ($ in Millions) $1,400 $659 $1,044 $1,273 $1,200 $606 $1,000 $533 $300 $800 $1,061 $1,195 $1,161 $488 $600 $1,031 $309 $453 $320 $357 $454 $453 $215 $73 $87 $249 $400 $93 $225
Slide 30: Appendix
Appendix © Enova International, Inc. 30
Slide 31: Proactive Global Compliance Capabilities
Proactive Global Compliance Capabilities Enova has a compliance framework that includes: Focus on tone from the top to instill an ethical culture Centralized team led by experienced compliance professionals: - Chief Compliance Officer reports directly to Board of Directors - Multiple CRCM/CAMS accre
Slide 32: Key Changes to Financial Reporting Under Fair Value
Key Changes to Financial Reporting Under Fair Value Balance Sheet Income Statement (+) Day 1 Gain on Originations Revenue (-) - Change in Fair Value (-) Net Charge Realized Value on Offs Net Revenue Existing Receivables Net Revenue Margin % (+) (-) Change in FV Assumptions Net Revenue margin % (+) H
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) December 31, December 31, December 31, December 31, December 31, March 31, 20201 20211 20221 20231 20241 20251,3 Revenue $1,084 $1,208 $1,736 $2,118 $2,
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) December 31, December 31, December 31, December 31, December 31, March 31, 20202 20212 20222 20232 20242 20252,3 Assets Cash and restricted cash $369 $226 $178 $377 $323 $312 Loans and finance r
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) December 31, December 31, December 31, December 31, December 31, March 31, (unaudited) 20206 20216 20226 20236 20246 20256 Net incom
Slide 36: Thank You
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