OppFi Lowers 2026 Revenue Ceiling to $610 Million in Q3 Update

OppFi Inc. lowered the upper end of its 2026 revenue forecast by $15 million on Wednesday, while quarterly revenue fell year over year but remained above its second-quarter level.

OppFi now forecasts 2026 revenue of $600 million to $610 million, compared with its August range of $600 million to $625 million. The adjusted net income ceiling fell to $120 million from $130 million, while the top end of its adjusted earnings per share (EPS) range dropped to $1.40 from $1.51. The lower ends remain $115 million for adjusted net income, $1.34 for adjusted EPS and $600 million for revenue. The projections use an approximate weighted-average diluted share count of 86 million.

Revenue for the quarter ended Sept. 30 was $149.23 million, down 3.8% from $155.09 million a year earlier. It exceeded the $145.17 million recorded in the second quarter, so the reported decline was year over year rather than quarter over quarter. Revenue for the first nine months of 2026 rose 1.9% to $446.28 million from $437.80 million.

Net income under generally accepted accounting principles (GAAP) fell 54.6% to $34.48 million from $75.93 million. Adjusted net income, a non-GAAP measure, declined 22.5% to $31.56 million. Adjusted EPS was 37 cents, down from 46 cents a year earlier. The 2026 adjusted net income and EPS forecasts were not reconciled to GAAP.

Total net originations declined 6.8% to $229.35 million. Retained net originations fell 11.4% to $190.67 million, and ending receivables declined 4.7% to $458.63 million. Net charge-offs rose to 40.1% of total revenue from 35.1% a year earlier.

OppFi operates a digital finance platform and works with banks to provide financial products and services. Its total revenue includes interest on finance receivables and other revenue. The financial tables for the quarter were unaudited.

OppFi released its results at 5:45 a.m. ET Wednesday, Oct. 28. Its earnings call is scheduled for 8:30 a.m. ET that day.