Oportun Financial reports preliminary Q4 revenue $262M, consensus $275.55M

The company said, "For the fourth quarter of 2022, Aggregate Originations totaled $610 million. The fourth quarter Annualized Net Charge-Off Rate was 12.8%. Management continues to expect that the Annualized Net Charge-Off Rate will start decreasing in the first quarter of 2023 and return to Oportun’s target 7% to 9% range by the third quarter of 2023. Management currently expects fourth quarter Total Revenue to be approximately $262 million, and Adjusted Net Income to be within the range of $3 million to $5 million."