Revenue growth reached 8.3% in 2026Q1, supported by an operating margin expansion to 42.9% that suggests effective management of customer acquisition costs.
| Sales/Revenue | 608.66M | 597.05M | 525.96M | 508.95M | 452.86M | 350.57M | 291.01M | 107.3M |
| Revenue Growth % | 12.95% | 13.52% | 3.34% | 12.39% | 29.18% | 20.46% | 171.22% | - |
| Cost of Goods Sold | 11.48M | 29.34M | 105.18M | 107.43M | 95.14M | 89.17M | 44.2M | 0 |
| COGS % of Revenue | - | 4.91% | 20% | 21.11% | 21.01% | 25.44% | 15.19% | - |
| Gross Profit | 597.18M | 567.71M | 420.78M | 401.52M | 357.72M | 261.4M | 246.82M | 107.3M |
| Gross Margin % | 98.11% | 95.09% | 80% | 78.89% | 78.99% | 74.56% | 84.81% | 100% |
| Gross Profit Growth % | - | 34.92% | 4.8% | 12.24% | 36.85% | 5.91% | 130.03% | - |
| Operating Expenses | 381.25M | 374.46M | 326.24M | 355.16M | 364.06M | 204.14M | 169.3M | 74.3M |
| OpEx % of Revenue | - | 62.72% | 62.03% | 69.78% | 80.39% | 58.23% | 58.18% | 69.25% |
| Selling, General & Admin | 90.92M | 87.58M | 89.86M | 86.66M | 87.54M | 88.94M | 38.11M | 29.34M |
| SG&A % of Revenue | - | 14.67% | 17.09% | 17.03% | 19.33% | 25.37% | 13.1% | 27.34% |
| Research & Development | 0 | 0 | 21.17M | 0 | 0 | 0 | 0 | 8.38M |
| R&D % of Revenue | - | - | 4.03% | - | - | - | - | 7.81% |
| Other Operating Expenses | 4M | 286.88M | 215.21M | 268.5M | 276.52M | 115.2M | 131.19M | 36.59M |
| Operating Income | 215.92M | 193.25M | 94.54M | 46.35M | -6.34M | 57.26M | 77.52M | 32.99M |
| Operating Margin % | 35.48% | 32.37% | 17.97% | 9.11% | -1.4% | 16.33% | 26.64% | 30.75% |
| Operating Income Growth % | - | 104.42% | 103.94% | 830.92% | -111.08% | -26.14% | 134.93% | - |
| EBITDA | 219.91M | 198.41M | 104.16M | 59.09M | 7.24M | 67.54M | 84.25M | 32.99M |
| EBITDA Margin % | 36.13% | 33.23% | 19.8% | 11.61% | 1.6% | 19.27% | 28.95% | 30.75% |
| EBITDA Growth % | 56.63% | 90.49% | 76.27% | 716.27% | -89.28% | -19.83% | 155.34% | - |
| D&A (Non-Cash Add-back) | 3.99M | 5.16M | 9.62M | 12.73M | 13.58M | 10.28M | 6.73M | 0 |
| EBIT | 170.07M | 195.5M | 298.98M | 277.77M | 231.19M | 90.24M | 96.8M | 0 |
| Net Interest Income | 438.23M | 557.68M | -182.23M | -46.75M | -35.16M | -137K | -21.23M | 0 |
| Interest Income | 466.22M | 597.05M | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 27.99M | 39.37M | 182.23M | 46.75M | 35.16M | 137K | 19.28M | 0 |
| Other Income/Expense | -23.82M | -37.12M | -6.48M | -4.54M | 9.4M | 32.85M | 0 | 0 |
| Pretax Income | 192.1M | 156.13M | 88.05M | 41.81M | 3.06M | 90.11M | 77.52M | 32.99M |
| Pretax Margin % | 31.56% | 26.15% | 16.74% | 8.21% | 0.68% | 25.7% | 26.64% | 30.75% |
| Income Tax | 12.21M | 9.88M | 4.21M | 2.33M | -277K | 311K | 0 | 0 |
| Effective Tax Rate % | 6.35% | 6.33% | 4.79% | 5.58% | -9.04% | 0.35% | 0% | 0% |
| Net Income | 66.1M | 26.33M | 7.26M | -1M | 7.1M | 25.55M | 77.52M | 32.99M |
| Net Margin % | 10.86% | 4.41% | 1.38% | -0.2% | 1.57% | 7.29% | 26.64% | 30.75% |
| Net Income Growth % | 784.92% | 262.76% | 822.19% | -114.16% | -72.22% | -67.03% | 134.93% | - |
| Net Income (Continuing) | 179.9M | 146.25M | 83.84M | 39.48M | 3.34M | 89.8M | 77.52M | 32.99M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 267.33M | 250.39M | 201.44M | 183.59M | 159.64M | 166.92M | 0 | 0 |
| EPS (Diluted) | 0.77 | 0.99 | 0.36 | -0.06 | 0.05 | 0.48 | 5.97 | 2.54 |
| EPS Growth % | 289.74% | 175% | 687.28% | -221.63% | -89.5% | -91.96% | 135.04% | - |
| EPS (Basic) | - | 0.99 | 0.36 | -0.06 | 0.51 | 1.93 | 5.97 | 2.54 |
| Diluted Shares Outstanding | 86.2M | 26.51M | 20.15M | 16.39M | 84.26M | 84.47M | 12.98M | 12.98M |
| Basic Shares Outstanding | 26.78M | 26.51M | 20.15M | 16.39M | 13.91M | 13.22M | 12.98M | 12.98M |
| Dividend Payout Ratio | - | 246.55% | 32.71% | - | 18.44% | 199.67% | 20.35% | 28.75% |
Regulatory and credit volatility
According to the latest financial disclosures, OppFi achieved a revenue growth rate of 8.3% in 2026Q1, building upon a consistent trend of double-digit expansion throughout 2025, which suggests that the platform's core installment loan products continue to capture demand despite broader macroeconomic uncertainty in the subprime sector.
The revenue trajectory appears to be supported by the company's ability to scale loan originations through its bank-partner model. Investors should monitor whether this growth remains sustainable as the company shifts focus toward lower-yield, payroll-deducted products like SalaryTap, which may alter the overall revenue mix.
Based on reported figures, OppFi maintains a headline gross margin of 95.9% as of 2026Q1, though this metric warrants caution as it excludes the underlying provision for credit losses and interest expenses that are fundamental to the true unit economics of a subprime lending platform.
The wide variance in gross margins, which dipped to 80.8% in 2025Q2 before recovering, highlights the sensitivity of the business to credit cycle fluctuations. Analysts should interpret these margins as a reflection of platform facilitation rather than traditional lending profitability, as the provision for loan losses remains the primary driver of margin compression.
As reported in recent income statements, OppFi has demonstrated significant operating leverage, with operating margins expanding to 42.9% in 2026Q1 from 18.2% in 2024Q4, indicating that the company is successfully managing its customer acquisition costs relative to the growth in its loan portfolio.
The ability to scale operating income faster than revenue suggests that the company's digital marketing and direct mail strategies are becoming more efficient. However, this efficiency may be tested if competitive pressures in the subprime space force an increase in marketing spend to maintain current origination volumes.
Based on the provided data, net income has exhibited extreme volatility, swinging from a $20.8 million loss in 2025Q2 to a $28.4 million profit in 2026Q1, which appears to be driven by non-operating items and fair value adjustments rather than purely operational performance.
The inconsistency in bottom-line results suggests that investors should focus on operating income as a more reliable proxy for core business health. The impact of stock-based compensation and periodic fair value adjustments to the loan portfolio warrants further investigation to determine the underlying cash-generating capability of the firm.
While the company reports strong operating margins, the potential for federal regulatory intervention regarding interest rate caps and the 'true lender' doctrine poses a significant threat to the sustainability of the current bank-partner model, as evidenced by the sensitivity of the firm's geographic revenue concentration.
Short-sellers may focus on the reliance on high-interest installment loans, which are increasingly under scrutiny by the CFPB. Any legislative shift that limits the platform's ability to facilitate loans through FDIC-insured partners could lead to a rapid contraction in both volume and profitability.
Quick answers to the most common questions about buying OPFI stock.
For fiscal year 2025, OppFi Inc. (OPFI) reported total revenue of $597.0M. This represents a 456.4% increase compared to $107.3M in 2019.
OppFi Inc. (OPFI) is profitable, generating $26.3M in net income for the fiscal year ending 2025 with a net profit margin of 4.4%.
OppFi Inc. (OPFI) reported an operating income of $193.2M, resulting in an operating profit margin of 32.4%. This margin reflects the operational efficiency of the business before interest and taxes.
OppFi Inc. (OPFI) generated $567.7M in gross profit for the year, representing a gross profit margin of 95.1%. This demonstrates the company's core pricing power and production efficiency.