Oportun Financial (OPRT) Q4 2025 earnings summary

Executive summary

• Achieved fifth consecutive GAAP profitable quarter in Q4 2025, meeting or exceeding all guidance metrics, with sustained profitability, solid credit performance, disciplined expense management, and reduced cost of capital.

• Full-year 2025 GAAP net income was $25 million, up $104 million year-over-year, and Adjusted EPS grew 89%.

• Originations grew 10% in 2025, with a strategic shift to returning members and focus on high-quality channels.

• CEO Raul Vazquez announced his planned departure, transitioning to an advisory role through July 2026.

Financial highlights

• FY2025 total revenue was $957 million, down $45 million year-over-year due to the credit card portfolio sale and credit tightening.

• Q4 GAAP net income was $3.4 million; full-year GAAP net income reached $25 million.

• Adjusted EPS for 2025 was $1.36, up 89% year-over-year; Q4 Adjusted EPS was $0.27.

• Adjusted EBITDA for FY2025 was $148 million, up 42% year-over-year.

• Operating expenses for Q4 were $84 million, the lowest as a public company, and full-year OpEx was down $49 million or 12% from 2024.

Outlook and guidance

• FY2026 guidance: Adjusted EPS of $1.50–$1.65, total revenue of $935–$955 million, Adjusted EBITDA of $150–$165 million, and annualized net charge-off rate of 11.9% ±50 bps.

• Expect mid-single-digit originations growth, 1–2% decline in average daily principal balance, and flat to slightly declining revenue.

• Interest expense projected to decline by over 10% in 2026; operating expenses expected to remain flat.

• Higher profitability anticipated in the second half of 2026 as originations ramp and loss rates improve.

• Q1 2026 guidance: Total revenue of $225–$230 million, Adjusted EBITDA of $25–$30 million, and Adjusted EPS of $0.50–$0.55.