Stonegate Capital Partners updated its coverage on OppFi, Inc. (NYSE: OPFI) following the company's strong fourth-quarter and full-year 2025 results. OppFi reported record revenue of $597.1 million, adjusted net income of $139.8 million, and adjusted EPS of $1.59 for FY25, representing year-over-year increases of 13.5%, 69.1%, and $0.64, respectively. GAAP net income rose 74.4% to $146.2 million. The performance was driven by the company's Model 6 initiative, broader adoption of risk-based pricing, and solid operating discipline, which improved unit economics and margin conversion.
Management also returned capital to shareholders, repurchasing $15.5 million of shares at an average price of $10.04, with $20.9 million remaining under the existing authorization. According to the full announcement, FY25 marked a meaningful step forward in profitability, underwriting, and capital return capacity. Key takeaways include that FY25 was a breakout year with record revenue, earnings, and margin expansion, highlighting stronger scale, pricing discipline, and operating efficiency. Capital flexibility improved meaningfully due to strong free cash flow, ample liquidity, lower funding costs, and share buybacks. FY26 guidance supports continued momentum, with management expecting solid growth, while recent credit pressure appears temporary rather than structural.
OppFi's results underscore the success of its strategic initiatives and operational focus. The company's ability to generate record earnings while returning capital to shareholders positions it well for sustained growth. For further details, refer to the full update from Stonegate Capital Partners.
