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Get filing alertsOportun reports Q1 net income of $2.3M, sixth straight profitable quarter; reaffirms 2026 guidance
Filed May 7, 2026 · Period ending May 7, 2026 · ~1 min read
Key Changes
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Q1 GAAP net income $2.3M ($0.05/share), down from $10M ($0.21/share) in Q1 2025, driven by higher fair value marks and lower revenue; adjusted net income $10M ($0.21/share) vs. $19M ($0.40/share) prior year.
Exhibit 99.1 view on EDGAR → -
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Total revenue declined 3% to $229M; originations fell 11% to $417M reflecting tight credit posture. Management expects mid-single-digit origination growth for full year 2026.
Exhibit 99.1 view on EDGAR → -
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Annualized net charge-off rate rose 50 bps to 12.7%; net charge-offs up 4% to $85M. Full-year 2026 charge-off rate expected at 11.9% ±50 bps.
Exhibit 99.1 view on EDGAR → -
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Reaffirmed full-year 2026 guidance: revenue $935-$955M, adjusted EBITDA $150-$165M, adjusted EPS $1.50-$1.65 (16% growth at midpoint).
Exhibit 99.1 view on EDGAR → -
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New CEO Doug Bland, who joined in April 2026, acknowledged disciplined execution while noting work remains on credit performance and rebuilding profitable growth.
Exhibit 99.1 view on EDGAR →
Summary
Oportun reported its sixth consecutive quarter of GAAP profitability in Q1 2026, though earnings declined year-over-year as the company maintained a conservative credit stance. Net income of $2.3 million ($0.05 per share) was down from $10 million in Q1 2025, driven by higher fair value marks and a 3% revenue decline to $229 million.
Originations fell 11% to $417 million as management prioritized credit quality over volume. The annualized net charge-off rate ticked up 50 basis points to 12.7%, with net charge-offs rising 4% to $85 million. The company reaffirmed full-year 2026 guidance calling for revenue of $935-$955 million and adjusted EPS of $1.50-$1.65, representing 16% growth at the midpoint.
Management expects mid-single-digit origination growth for the year and a full-year charge-off rate of 11.9% plus or minus 50 basis points. New CEO Doug Bland, who joined in April, acknowledged the company's progress on profitability and liquidity while noting that improving through-cycle credit performance and rebuilding durable growth remain priorities. For retail holders, the key question is whether Oportun can expand originations while keeping credit losses within guided ranges as it transitions leadership.
Section-by-Section Diff
Event · Exhibit 99.1
Oportun reported Q1 2026 earnings with sixth consecutive quarter of GAAP profitability, reiterating full-year guidance.
Added in current filing · view on EDGAR →
Annualized Net Charge-Off Rate for the quarter was 12.7%, compared to 12.2% for the prior-year quarter. Net Charge-offs in dollars for the quarter were up 4% to $85 million, compared to $81 million for the prior-year quarter.
The annualized net charge-off rate increased 50 basis points year-over-year to 12.7%, with net charge-offs rising 4% to $85 million. The 30+ day delinquency rate improved slightly to 4.5% from 4.7%. Management expects full-year 2026 annualized net charge-off rate of 11.9% plus or minus 50 basis points.
Added in current filing · view on EDGAR →
Total Revenue $227 - $232M $935 - $955M | Annualized Net Charge-Off Rate12.2% +/- 15 bps11.9% +/- 50 bps | Adjusted EBITDA1 $34 - $39M $150 - $165M | Adjusted Net Income1 $74 - $82M | Adjusted EPS1 $1.50 - $1.65
Oportun reiterated full-year 2026 guidance with total revenue of $935-$955 million, adjusted EBITDA of $150-$165 million, and adjusted EPS of $1.50-$1.65 (representing 16% year-over-year growth at the midpoint). The company also provided Q2 2026 guidance for total revenue of $227-$232 million and adjusted EBITDA of $34-$39 million.
Added in current filing · view on EDGAR →
"Having joined Oportun last month, I’m encouraged by the team’s disciplined execution in the first quarter,” said Doug Bland, CEO of Oportun.
Doug Bland joined as CEO last month (April 2026). He acknowledged the company's progress on GAAP profitability and liquidity while noting more work is needed to improve through-cycle credit performance and rebuild durable, profitable growth.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 23, 2026 · How we verify