OppFi Results Presentation Deck
OppFi Quarterly Net Income to Adj. EBT, Adj. Net Income and
Adj. EBITDA Reconciliation.
18
(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:
2,
3.
Six Months Ended June 30,
2022
2021
9,200
742
1,044
(1,269)
9,717
(2,340)
7,377
2,340
6,604
14,282
589
2
31,194
0.09
84,377,754
42,371
1,163
5,902
49,436
(12,359)
37,077
12,359
4,577
9,830
792
4
64,639
Variance (%)
(78.3%)
(10.2%)
(121.5%)
(80.3%)
(81.1%)
(80.1%)
(81.1%)
44.3%
45.3%
(25.6%)
(51.7%)
For the six months ended June 30, 2022, addbacks and one-time expense of ($1.3 million) included a ($5.7 million) addback due to the change in fair value of the warrant liabilities, $2.1 million in expenses
related to severance and retention bonuses, $1.6 million in expenses related to stock compensation, a $0.5 million one-time origination fee expense, and $0.2 million in one-time legal expenses. For the six
months ended June 30, 2021, addbacks and one-time expenses of $5.9 million included a $3.3 million one-time warrant valuation expense, a $1.6 million expense related to one-time legal, accounting, and
other costs related to the Company's business combination, $0.4 million in expenses related to severance, $0.3 million in management fees, and $0.2 million in expenses related to profit interest
compensation.
Assumes a tax rate of 25% for the six months ended June 30, 2021 and a 24.08% tax rate for the six 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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