Stonegate Capital Partners has updated its coverage on OppFi, Inc. (NYSE: OPFI) following the company's first-quarter 2026 results. While first-quarter results were steady, the key development was OppFi's strategic shift toward a bank-enabled, deposit-funded model through the pending acquisition of BNCC. This move is expected to add approximately $1.0 billion in low-cost deposits, support national expansion, and drive over 25% adjusted EPS accretion in the first year.
Despite a 7.0% year-over-year decline in net originations to $176.0 million, OppFi's receivables grew 9.4% to $444.9 million, and revenue increased 8.3% to a record $151.9 million. The company attributed lower originations to tighter credit conditions, inflation, weaker consumer sentiment, and higher average tax refunds temporarily reducing loan demand. Higher charge-offs pressured adjusted earnings, but expense discipline held as management invested across multiple growth initiatives.
According to the update, OppFi is prioritizing credit discipline and long-term platform expansion over near-term volume growth. Key product and technology investments include the LOLA migration beginning in May 2026, Model 7 expected in fall 2026, and the launch of LOC this summer. The company's fiscal year 2026 guidance remains intact, with revenue projected between $650 million and $675 million and adjusted EPS in the range of $1.76 to $1.84.
For more details, the full announcement is available here. Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies.
