OppFi Results Presentation Deck
OppFi Quarterly Net Income to Adj. EBT, Adj. Net Income and
Adj. EBITDA Reconciliation.
17
(in thousands, except share and per share data)
Unaudited
Net income
Provision for income taxes
Debt amortization
Other addback and one-time expenses¹
Adjusted EBT
Less: pro forma taxes²
Adjusted net income
Pro forma taxes²
Depreciation and amortization
Interest expense
Business (non-income) taxes
Net gain/loss on fixed asset sale
Adjusted EBITDA
Adjusted EPS³:
Weighted average diluted shares outstanding:
10
2,
Three Months Ended June 30,
2021
2022
9,497
202
435
(1,145)
8,989
(2,170)
6,819
2,170
3,366
7,442
210
2
20,009
0.08
84,283,102
17,987
642
5,135
23,764
(5,941)
17,823
5,941
2,413
5,744
357
32,282
Variance (%)
(47.2%)
(32.2%)
(122.3%)
(62.2%)
(63.5%)
(61.7%)
(63.5%)
39.5%
29.6%
(41.2%)
(50.0%)
(38.0%)
For the three months ended June 30, 2022, addbacks and one-time expense of ($1.1 million) included a ($3.3 million) addback due to the change in fair value of the warrant liabilities, a $0.7 million expense
related to severance and retention bonuses, a $0.5 million one-time origination fee expense and $1.0 million in expenses related to stock compensation. For the three months ended June 30, 2021, addbacks
and one-time expenses of $5.1 million included a $3.3 million one-time warrant valuation expense, a $1.3 million expense related to one-time legal, accounting, and other costs related to the Company's
business combination, $0.2 million in expenses related to profit interest compensation, $0.2 million in management fees, and $0.1 million in severance.
Assumes a tax rate of 25% for the three months ended June 30, 2021 and a 24.14% tax rate for the three months ended June 30, 2022, 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 other publicly traded companies.
For the periods prior to July 20, 2021, earnings per share was not calculated, as net income prior to the Business Combination was attributable entirely to OppFi-LLC.
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