Oportun Financial reports preliminary Q1 revenue $248M-$250M, consensus $235.84M

Reports preliminary Q1 adjusted EBITDA flat to up $4M. “We are pleased to report preliminary indications of a strong first quarter,” said Raul Vazquez, CEO of Oportun. “We expect to deliver a resilient top-line performance with Total Revenue exceeding the top end of our guidance range by $10 to $12 million. Our tightened credit posture contributed to delivering annualized net charge-offs in the bottom half of our guidance range and below the net charge-off rate from last year. Additionally, our 30+ Day Delinquency Rate is 21 basis points lower than last year. On a GAAP basis, we expect Net Loss for the quarter to have improved by $72 to $76 million compared to last year. Given strong Total Revenue, improved credit performance and continued expense discipline, we also expect to be break-even to profitable on an Adjusted Net Income basis, an increase of $58 to $62 million over last year. We expect Adjusted EBITDA to be positive and $12 to $16 million above the top end of our guidance range, a $20 to $24 million increase compared to last year. As these results demonstrate, we continue to make significant progress towards driving sustainable, profitable earnings growth, and shareholder value.”