Enova revenue +21.6%, operating income +29%; $369M Grasshopper bank acquisition pending

Filed July 23, 2026 · Period ending June 30, 2026 · Compared to 10-Q Jul 25, 2025 · ~2 min read

Key Changes

• high

  Announced $369M acquisition of Grasshopper Bancorp (digital bank offering Banking-as-a-Service and commercial lending); shareholder approval obtained, regulatory approvals pending, expected close H2 2026.

  MD&A: Grasshopper acquisition verify on EDGAR →
• high

  Q2 revenue $928.9M (+21.6% YoY); operating income $237.1M (+29% YoY); net income $105.1M ($4.00 EPS, +40% YoY). H1 revenue $1,804.1M (+19.5%); operating income $444.3M (+24.8%); net income $196.2M ($7.45 EPS, +35%).

  MD&A: Financial results verify on EDGAR →
• high

  Marketing expense surged 42.5% to $203.5M in Q2 (vs. revenue growth of 21.6%), driven by higher online advertising and small business commissions; prior year noted optimization efforts, current year does not.

  MD&A: Marketing expense verify on EDGAR →