OppFi Results Presentation Deck
25
OppFi Quarterly EBT to Adj. EBT and Adj. EBITDA Reconciliation
($ in thousands)
EBT¹
Fair Value Adjustment
Debt Amortization
Other Addback and One-Time Expenses²
Adjusted EBT
Less: Pro Forma Taxes³
Adjusted Net Income
Pro Forma Taxes³
Depreciation and Amortization
Interest Expense
Business (Non-income) Taxes
Adjusted EBITDA
Unaudited
Three Months Ended June 30,
2021
2020
$25,119
(23,682)
$17,987
642
5,181
$23,810
(5,952)
$17,858
5,952
2,413
5,744
357
$32,324
458
220
$2,115
(529)
$1,586
529
1,579
4,924
483
$9,101
Variance (%)
(28.4%)
40.1%
2,251.7%
1,025.9%
1,025.9%
1,025.9%
1,025.9%
52.8%
16.6%
(25.9%)
255.2%
1. Represents Net Income as reported in the Company's consolidated financial statements, as prior to the business combination OppFi did not have tax provision under its pass-through structure as a limited liability company.
2. One time expense includes a $3.3 million impact in 2021 from an increase in warrant liability, $1.2 million in costs related to the business combination, and $0.7 million in stock compensation, management fees, and other addbacks.
3. Assumes a tax rate of 25% reflecting the U.S. federal statutory rate of 21% and a blended statutory rate for state income taxes, in order to allow for a comparison with publicly traded companies.
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