Oportun Reports First Quarter 2026 Results; Extends GAAP Profitability Streak

About this update from Oportun Financial Corporation

Achieves all first quarter guidance metrics Delivers sixth consecutive quarter of GAAP profitability Strengthens balance sheet and liquidity position Reiterates full-year 2026 guidance SAN MATEO, Calif., May 07, 2026 (GLOBE NEWSWIRE) -- Oportun Financial Corporation (Nasdaq: OPRT) (“Oportun”, or the "Company") today reported financial results for the first quarter ended March 31, 2026. “Having joined Oportun last month, I’m encouraged by the team’s disciplined execution in the first quarter,” said Doug Bland, CEO of Oportun. “The business has made meaningful progress strengthening its foundation, including continued GAAP profitability, lower funding costs and improved liquidity. At the same time, it is clear there is more work ahead to improve through-cycle credit performance and rebuild durable, profitable growth. Based on my review to date, we are reiterating our full year 2026 guidance.” Added Paul Appleton, Oportun's Interim Chief Financial Officer: “We expect to ramp originations from first quarter levels through the remainder of the year while maintaining credit discipline and reducing our loss rates. We are also advancing our risk-based pricing initiative, which we expect to launch in the second half of the year, expanding access to customers we are not able to serve today. I am pleased that our full year 2026 Adjusted EPS guidance of $1.50 to $1.65 continues to reflect 16% year-over-year growth at the midpoint.” First Quarter 2026 Results Financial and Operating Results All figures are as of or for the quarter ended March 31, 2026, unless otherwise noted. Operational Drivers Originations – In line with expectations under a tight credit posture, Aggregate Originations for the first quarter were $417 million, a decrease of 11% compared to $469 million in the prior-year quarter. Management continues to expect to grow originations in the mid-single-digits range over the course of full year 2026. Owned Principal Balance - Owned Principal Balance at the end of the first quarter was $2.6 billion, compared to $2.7 billion in the prior-year quarter. Portfolio Yield - Portfolio Yield for the first quarter was 32.1%, compared to 33.0% in the prior-year quarter. This decrease was driven by reduced originations and therefore lower origination fees, as we continued to operate under a conservative credit posture. Net Interest Margin Ratio - Net Int...

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