Key Points
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Oportun returned to year-over-year growth in Q3, with revenue up 3% to $246 million and adjusted net income up 38% to $26 million. Adjusted EBITDA rose 37% to $56 million, and GAAP profitability continued for an eighth consecutive quarter.
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Management raised its full-year outlook for originations toward the high end of mid-single-digit growth and expects 2026 adjusted EBITDA of $183 million to $188 million. Its Oportun Forward strategy emphasizes durable growth, stronger member relationships, and using data and AI to improve lending and operations.
Oportun Financial (NASDAQ:OPRT) reported third-quarter 2026 results that marked a return to year-over-year revenue growth, with lower funding costs, improving credit performance and higher profitability supporting an increased full-year outlook.
Chief Executive Officer Doug Bland said revenue increased 3% from the prior-year period, the company’s first year-over-year revenue growth since the fourth quarter of 2023. Originations rose 12%, while interest expense declined 27% and net charge-off dollars fell 10% year over year.
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“Q3 was a strong quarter, and it’s clear that our momentum is building,” Bland said. He added that the company’s annualized GAAP return on equity reached 21.6%, its highest level since the first quarter of 2022.
Quarterly Results and Credit Trends
Oportun recorded net income of $23 million, compared with an $18 million lower result a year earlier, marking its eighth consecutive quarter of GAAP profitability. Diluted earnings per share were $0.45. Adjusted net income rose 38% year over year to $26 million, while adjusted EPS increased 31% to $0.51 from $0.39.
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Total revenue was $246 million, up $7.6 million, or 3%, from the prior-year quarter. Chief Financial Officer Bill Franklin said the increase reflected higher originations and a 136-basis-point improvement in loan yield to 34.4%. The average daily principal balance was essentially flat, as a larger mix of returning members contributed to higher payment rates.
Third-quarter interest expense declined $15 million year over year to $41 million. Franklin attributed the reduction to balance-sheet optimization efforts, including corporate debt repayments and actions involving asset-backed securities notes and warehouse facilities.
