OppFi Inc. (OPFI) shares went up 5.88% in after-hours on Friday, November 05, 2021, and closed the daily trading at $7.20. Even in the regular trading session, OPFI’s stock gained 2.26%. OPFI shares have moved up 6.25% in the past week. Over the past three months, the stock has lost 17.87%, while over the past six months, it has declined 32.67%.

Let’s have a look at its recent news and developments.

OPFI upcoming financial results announcement

OppFi Inc. (OPFI) will release financial results for the third quarter ended September 30, 2021, after the market close on Thursday, November 11, 2021.

OPFI Amended $75 Million Credit Facility

On October 19, 2021, OppFi Inc (OPFI) amended its existing $75 million credit facility with Atalaya Capital Management to support the growth of the newly launched OppFi Card. OppFi recently launched OppFi Card, its first-ever credit card designed to enable the company to serve a segment of the $21 billion non-prime credit card market.

OPFI expanded Bank Credit Facility

On October 05, 2021, OppFi Inc. (OPFI) expanded its existing $25 million bank credit facility to $45 million. OppFi plans to use the expanded facility in part to support the growth and expansion of its SalaryTap product, an employer payroll-linked loan product, that is available in 33 states.

OPFI welcome recent Federal court decision

On September 02, 2021, OppFi Inc. (OPFI) applauds the recent decision by the federal district court in the Western District of Texas granting the Consumer Financial Protection Bureau’s motion for summary judgment and denying the Community Financial Services Association’s challenge to the CFPB’s Payday, Vehicle Title, and Certain High-Cost Installment Loans Rule.

OPFI latest financial results announcement

On August 10, 2021, OppFi Inc. (OPFI) reported financial results for Opportunity Financial, LLC for the second quarter ended June 30, 2021.

Q2 2021 financial highlights

• OPFI reported total revenue of $78.38 million in Q2 2021 compared to $61.3 million in Q2 2020.
• Total expenses were $17.9 million in Q2 2021 compared to $7.36 million in Q2 2020.
• It earned a net income of $17.98 million in Q2 2021 compared to a net income of $25.11 in Q2 2020.
• Adjusted EBITDA was $32.32 million in Q2 2021 compared to $9.1 million in Q2 2020.
• The company ended the quarter with $121 million of total cash

FY 2021 financial outlook

For FY 2021, the company is expecting

• Revenue to be in the range of $350 million to $360 million.
• Adjusted EBITDA in the range of $120 million to $125 million.
• Adjusted Net Income between $62 million and $66 million.

Conclusion

Well, there is no recent development which could be the reason behind OPFI good performance on Friday. we hope that it will continue its positive momentum after the weekend as well.