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OPRT Oportun Financial

Oportun Financial Corp. is a holding company, which engages in the provision of financial services for customers with credit invisibles. It offers small dollar, unsecured instalment loans through its proprietary lending platform. The company was founded in August 2005 and is headquartered in San Carlos, CA.

Company profile

Ticker
OPRT
Exchange
Website
CEO
Raul Vazquez
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
Progreso Financiero Holdings, Inc.
SEC CIK
IRS number
453361983

OPRT stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

22 Feb 21
19 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 168.59M 168.59M 168.59M 168.59M 168.59M 168.59M
Cash burn (monthly) (positive/no burn) (positive/no burn) (positive/no burn) 4.84M 19.59M 5.64M
Cash used (since last report) n/a n/a n/a 17.52M 70.92M 20.43M
Cash remaining n/a n/a n/a 151.07M 97.67M 148.16M
Runway (months of cash) n/a n/a n/a 31.2 5.0 26.3

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
31 Mar 21 Williams R Neil Common Stock Grant Aquire A No No 0 794 0 18,627
31 Mar 21 Pascarella Carl Common Stock Grant Aquire A No No 0 993 0 135,231
31 Mar 21 Strohm David N Common Stock Grant Aquire A No No 0 755 0 18,397
30 Mar 21 Joan Aristei Common Stock Payment of exercise Dispose F No No 20.24 293 5.93K 64,681
30 Mar 21 Joan Aristei Common Stock Option exercise Aquire M No No 0 847 0 64,974
30 Mar 21 Joan Aristei RSU Common Stock Option exercise Dispose M No No 0 847 0 0
30 Mar 21 David Anthony Needham Common Stock Payment of exercise Dispose F No No 20.24 40 809.6 43,530
30 Mar 21 David Anthony Needham Common Stock Option exercise Aquire M No No 0 114 0 43,570
30 Mar 21 David Anthony Needham RSU Common Stock Option exercise Dispose M No No 0 114 0 0

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

81.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 75 66 +13.6%
Opened positions 12 3 +300.0%
Closed positions 3 7 -57.1%
Increased positions 32 22 +45.5%
Reduced positions 13 21 -38.1%
13F shares
Current Prev Q Change
Total value 435.49M 190.17M +129.0%
Total shares 22.48M 16.13M +39.4%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Institutional Venture Management XIV 3.85M $74.55M 0.0%
Kayne Anderson Rudnick Investment Management 3.57M $69.12M -1.1%
Greylock XII Limited Partnership 2.88M $55.88M NEW
BLK Blackrock 1.97M $38.17M +5.3%
Madrone Partners 1.54M $29.84M NEW
Ashford Capital Management 1.2M $23.29M +29.8%
GLYNN Capital Management 1.19M $22.98M 0.0%
Vanguard 958.86K $18.57M +5.2%
Clearbridge Advisors 831.42K $16.11M +3.9%
CRV 819.76K $15.88M NEW
Largest transactions
Shares Bought/sold Change
Greylock XII Limited Partnership 2.88M +2.88M NEW
Madrone Partners 1.54M +1.54M NEW
CRV 819.76K +819.76K NEW
Ashford Capital Management 1.2M +276.2K +29.8%
Wellington Management 257.49K +257.49K NEW
Bridgeway Capital Management 120K +120K NEW
BLK Blackrock 1.97M +98.56K +5.3%
Union Square Park Capital Management 90K +90K NEW
STT State Street 340.7K +82.92K +32.2%
EJF Capital 78K +64.01K +457.5%

Financial report summary

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Risks
  • The global COVID-19 pandemic has and may continue to adversely impact our business operations, financial performance and results of operations.
  • Our business may be adversely affected by disruptions in the credit markets, including reduction in our ability to finance our business.
  • We may change our strategy or underwriting and servicing practices, which may adversely affect our business.
  • You may be diluted by the future issuance of additional common stock in connection with our equity incentive plans, acquisitions or otherwise.
  • The price of our common stock may be volatile, and you could lose all or part of your investment.
  • If financial or industry analysts do not publish research or reports about our business, or if they issue an adverse or misleading opinion regarding our stock, our stock price and trading volume could decline.
  • Our directors, officers, and principal stockholders have substantial control over our company, which could limit your ability to influence the outcome of key transactions, including a change of control.
  • The requirements of being a public company may strain our resources, divert management’s attention and affect our ability to attract and retain qualified Board members.
  • Our amended and restated certificate of incorporation provides that the Court of Chancery of the State of Delaware or the U.S. federal district courts will be the exclusive forums for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or other employees.
Management Discussion
  • Total Revenue. Total revenue decreased by $16.4 million, or 2.7%, from $600.1 million for 2019 to $583.7 million for 2020.
  • Interest income. Total interest income increased by $1.3 million, or 0.2%, from $544.1 million for 2019 to $545.5 million for 2020. The increase is primarily attributable to growth in our Average Daily Principal Balance, which grew from $1.62 billion for 2019 to $1.70 billion for 2020, an increase of 4.8%. The increase is the result of the stabilization of the portfolio subsequent to the issuance of shelter in place orders which began in March 2020 as a result of the onset of the COVID-19 pandemic and a strong rebound in originations beginning in the second quarter of 2020 and continuing through year-end. This was offset by a decrease in portfolio yield of 143 basis points as we originated more loans to returning customers, who generally receive lower rates, due to having tightened our underwriting criteria in response to the COVID-19 pandemic and our decision to cap the APR at 36% on all new originations as of August 6, 2020, which reduced the interest rates and origination fees on new loans.
  • Non-interest income. Total non-interest income decreased by $17.8 million, or 31.7%, from $56.0 million for 2019 to $38.3 million for 2020. Under our whole loan sale programs, gain on loans sold decreased by $16.2 million, or 44.4% due to a decline in loans sold resulting from lower originations as a result of the impact of the COVID-19 pandemic and our decision to sell 10% versus 15% of originated loans.
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