OppFi drops after slashing 2026 revenue, profit forecasts

Oppfi

11/08/2026 15:13

** Shares of digital finance platform OppFi OPFI.N slump 18% to $7.16 in early trading
** On Monday after markets closed, co lowered its total revenue forecast to $600 million-$625 million from $650 million-$675 million and adj. net income forecast lowered to $115 million-$130 million from $153 million-$160 million for full year 2026
** Reported Q2 adj EPS of 33 cents per share below analysts' estimates of 45 cents per share
** Analyst at Citizens says, "Credit tightening was not directly a consequence of credit performance but rather a response to competitive pressures" 
** "We understand that OPFI’s core short-term installment lending product, even with lower risk-based pricing, is losing more share against longer-term products and lines of credit with smaller monthly payments as borrowers are prioritizing monthly cost"    
** Including session's move, stock down 31.5% YTD

 (Reporting by Pragyan Kalita in Bengaluru)
 ((Pragyan.Kalita@thomsonreuters.com;))