OppFi: 3 Key Takeaways for Long-Term Investors

On its third-quarter 2026 earnings call, held on Oct. 28, 2026, OppFi (NYSE:OPFI) announced it invested over $150 million this year to build a tech-enabled banking platform with a goal of $500 million in long-term adjusted net income. For long-term investors, shifting borrower preferences and tight credit filters require proof that new software and credit products can drive profitable originations.

Management shares three takeaways on how the strategy is unfolding.

1. Flexible Credit Products Expand Customer Reach

Management launched a line of credit product (LOC) to complement traditional installment loans and reach borrowers who prefer flexible options. Built on LOLA, the company's new cloud software architecture that speeds up product development, the structure opens marketing funnels in new states.

LOC expands credit access while responding to consumers' growing preference for more flexible products. We are beginning to scale it in new geographies and we will test it in existing markets to give customers more flexible options.
-- Todd G. Schwartz, Executive Chairman and Chief Executive Officer

2. Upgraded Underwriting Models Boost Approval Conversion

Marketing partner screening criteria tightened during the quarter, so origination volume fell 7% year over year. Management designed Model 7, its latest proprietary credit scoring algorithm, to match pre-screening filters with partner banks and boost application conversion.

Early results show a 20% improvement in aligning marketing prescreening scores with our bank partners' established underwriting criteria, enabling us to make more accurate and better targeted offers to potential customers.
-- Todd G. Schwartz, Executive Chairman and Chief Executive Officer

3. Share Buybacks Target Equity Valuation Discount

Management views the current stock price as an unwarranted discount relative to industry peers and long-term earnings potential. It activated a $40 million share repurchase program to buy back equity directly from the open market.

When the market is not getting us credit for our investment, and long term earnings potential, we intend to utilize our board authorized $40 million repurchase program when we believe repurchases represent an attractive use of capital.
-- Todd G. Schwartz, Executive Chairman and Chief Executive Officer

Looking Ahead

Macroeconomic pressures strain subprime borrowers, yet internal recovery systems cushion credit performance.

While credit losses are elevated compared with the prior year period, net charge offs as a percentage of average receivables remain broadly in line with the historical averages. Driven in part by our strong recoveries.
-- Pamela D. Johnson, Chief Financial Officer

Proprietary debt collections, cloud platform migration, and the pending acquisition of BNCC Corp, a bank holding company, anchor long-term efficiency as leadership maintains pricing discipline.

We continue to believe OppFi is building a stronger, more diversified, and more valuable platform. We remain confident in our path toward achieving our long term objective of approximately $3 of earnings per share by the end of 28.
-- Pamela D. Johnson, Chief Financial Officer

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