OppFi Results Presentation Deck
8
Quarterly Key Performance Indicators
($ in millions), except Total Marketing Cost
Net Originations¹
Ending Receivables²
% of Originations by Bank Partners
Net Charge-Offs as % of Avg.
Receivables3
Average Yield4
Automatic Approval Rate5
Total Marketing Cost per New Funded
Loan6
Total Marketing Cost per Funded Loan?
UNAUDITED QUARTER ENDED
6/30/2021
$144
$260
93%
28%
129%
51%
$245
$72
6/30/2022
$226
$402
95%
51%
118%
62%
$206
$82
Key Highlights
Net originations increased 57% year over year
Ending receivables increased 54% year over year as a result
of strong origination growth YoY
Net charge-offs as % of average receivables increased to 51%
versus 28% year over year, which is an improvement over Q1-2022
but continues to reflect elevated delinquencies from higher loss customer
segments that we have continued to cut throughout Q2-2022
Yield decreased year over year due to introduction
of personalized pricing and increased delinquency
Automatic approval rate increased to 62% from 51% year over
year, reflecting the continued application of algorithmic automation
projects that streamline the origination process
Total marketing cost per new funded loan decreased by 16% year
over year due to reduced investment in direct mail spend combined with
higher customer conversion rates
1. Net originations include both originations by bank partners on the OppFi platform, as well as direct originations by OppFi.
2. Receivables are defined as unpaid principal balances of both on- and off-balance sheet loans.
3. Net charge-offs as a percentage of average receivables (defined as unpaid principal of both on- and off-balance sheet loans) represents total charge offs from the period less recoveries as a percent of average receivables. OppFi charges off loans after
they are more than 90 days delinquent.
4. Average Yield is defined as annualized interest income from the period as a percent of average receivables
5. Auto-Approval Rate is calculated by taking the number of approved loans that are not decisioned by a loan advocate or underwriter (auto-approval) divided by the total number of loans approved.
6. Marketing Cost per New Funded Loan represents marketing cost per funded loan for new loans. This metric is the amount of direct marketing costs incurred during a period divided by the number of new funded loans originated during that same period.
7. Marketing Cost per Funded Loan represents marketing cost per funded loans (including new and returning customer loans). This metric is the amount of direct marketing costs incurred during a period divided by the number of funded loans originated
during that same period.
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