When looking at the business from a wide angle, it’s not too hard to see why financial technology firm OppFi (OPFI) — which specializes in providing everyday consumers with access to credit — has enjoyed blistering success. Over the past one-year period, OPFI stock has gained nearly 337% of equity value. So, unless there is strong evidence to the contrary, OPFI’s current red ink may just be a healthy corrective cycle.
In many ways, the results speak for themselves. In fiscal year 2023, OppFi generated total revenue of $508.9 million, representing a 12.4% lift from the prior year. Also, the company is consistently profitable, with fiscal 2023 being its ninth consecutive year of net income (totaling $39.5 million at the time).
