Oportun Financial Corporation reported its fourth quarter and full year 2024 financial results on February 12, 2025, announcing a return to GAAP profitability with a net income of $9 million in Q4, a $51 million year-over-year increase. Adjusted EBITDA for the quarter reached $41 million, up 315% year-over-year.
The company achieved its lowest annualized net charge-off rate since Q3 2022 at 11.7% and reduced total operating expenses by 31% year-over-year to $89 million, falling below its $97.5 million target. Originations also returned to growth, increasing 19% year-over-year to $522 million.
For the full year 2024, Oportun reported an Adjusted Net Income of $29 million, a significant improvement from a $71 million Adjusted Net Loss in 2023. The company raised its full year 2025 Adjusted EPS guidance to $1.10 to $1.30 per share, implying 53% to 81% growth.
Additionally, Oportun announced that Jonathan Coblentz, Chief Financial Officer and Chief Administrative Officer, plans to retire effective March 28, 2025. Casey Mueller, the company’s Principal Accounting Officer and Global Controller, will serve as interim CFO during the search for a permanent successor.
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