OppFi Results Presentation Deck
2Q21 KPIs Highlight Growth, Credit, and Efficiency Improvements
Unaudited
Three Months Ended
3/31/2021
($ in 000s)
Net Originations¹
Ending Receivables²
% of Originations by
Bank Partners
Net Charge-Offs as % of
Average Receivables3
Total Revenue Yield
Automatic Approval
Rate4
Total Marketing Cost per
Funded Loan5
Total Marketing Cost per
New Funded Loan5
16
6/30/2021
$143,983
$260,377
93%
28%
129%
51%
$72
$245
$99,809
$245,293
76%
30%
130%
41%
$56
$266
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.
6/30/2020
$78,098
$218,767
62%
40%
124%
19%
$91
$454
Key Highlights
Net originations increased 84% for the second quarter of
2021 vs. 2020, and 44% sequential quarter over quarter
•
U
•
Ending receivables increased 19% year over year, and
6% quarter over quarter as a result of strong origination
growth in Q221
Net charge-offs as % of average receivables declined to
28% versus 40% for Q220, demonstrating continued
credit quality improvement
Automatic approval rate increased Q/Q to 51% from 41%,
reflecting execution of auto-decisioning and efficiency
projects
Total marketing cost per new funded loan improved as
2020 was adversely impacted from the government
stimulus impact on direct mail response rate
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. 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.
5. Marketing Cost per Funded Loan represents marketing cost per funded loan for new and refinanced loans. This metric is the amount of direct marketing costs incurred during a period divided by the number loans originated during that same period.
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