Earnings Rebound and Credit Performance
Credit Performance:
Substantial Decline Year-Over-Year in Net Charge-Off Rate
11
Disciplined underwriting
led by adjustments and
enhancements to credit
models
Net Charge-Off Rate as a % of Total Revenue¹
43.5%
Q2 2022A
16.7%
improvement
I
36.2%
Q2 2023A
22.6%
improvement
54.8%
Q3 2022A
I
42.4%
Q3 2023A
1. Annualized net charge-offs as a percentage of total revenue represents total charge offs from the period less recoveries as a percent of total revenue for the OppLoans product only. Finance receivables are charged off at the earlier of the
time when accounts reach 90 days past due on a recency basis, when OppFi receives notification of a customer bankruptcy or when finance receivables are otherwise deemed uncollectible.
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