Oportun Financial (OPRT) 10-Q 10 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	9 Months Ended
	Sep. 30, 2020	Nov. 05, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-39050
Entity Registrant Name	OPORTUN FINANCIAL CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-3361983
Entity Address, Address Line One	2 Circle Star Way
Entity Address, City or Town	San Carlos,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94070
City Area Code	650
Local Phone Number	810-8823
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	OPRT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		27,607,142
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001538716
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Cash and Cash Equivalents	$ 109,656	$ 72,179
Restricted Cash	53,824	63,962
Loans receivable at fair value	1,605,388	1,882,088
Loans receivable at amortized cost	0	42,546
Unamortized deferred origination costs and fees, net	0	(103)
Allowance for loan losses	0	3,972
Loans receivable at amortized cost, net	0	38,471
Loans Receivable Held-for-sale, Amount	1,046	715
Interest and fees receivable, net	16,535	17,185
Right of use assets - operating	48,762	50,503
Other Assets	82,312	76,771
Total assets	1,917,523	2,201,874
Secured financing	191,180	60,910
Asset-backed notes at fair value	1,125,444	1,129,202
Asset-backed notes at amortized cost	0	359,111
Amount due to whole loan buyer	26,810	33,354
Lease liabilities	51,692	53,357
Other liabilities	69,376	77,174
Total liabilities	1,464,502	1,713,108
Preferred stock, $0.0001 par value - 100,000,000 shares authorized at September 30, 2020 and December 31, 2019; 0 shares issued and outstanding at September 30, 2020 and December 31, 2019	0	0
Preferred stock, additional paid-in capital	0	0
Common stock, $0.0001 par value - 1,000,000,000 shares authorized at September 30, 2020 and December 31, 2019; 27,855,051 shares issued and 27,583,028 shares outstanding at September 30, 2020; 27,262,639 shares issued and 27,003,157 shares outstanding at December 31, 2019	6	6
Common stock, additional paid-in capital	431,673	418,299
Common stock warrants	0	63
Accumulated other comprehensive loss	(268)	(162)
Retained earnings	27,919	76,679
Treasury stock at cost, 272,023 and 259,482 shares at September 30, 2020 and December 31, 2019	(6,309)	(6,119)
Total stockholders' equity	453,021	488,766
Total liabilities and stockholders' equity	$ 1,917,523	$ 2,201,874

Consolidated Balance Sheets Bal

Consolidated Balance Sheets Balance Sheet Equity Captions (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Stockholders' Equity, Number of Shares, Par Value and Other Disclosures [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	100,000,000	100,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	1,000,000,000	1,000,000,000
Common Stock, Shares, Issued	27,855,051	27,262,639
Common Stock, Shares, Outstanding	27,583,028	27,003,157
Treasury Stock, Common, Shares	272,023	259,482

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Interest income	$ 128,739	$ 139,272	$ 415,525	$ 395,778
Non-interest income	8,028	14,608	27,377	39,026
Total revenue	136,767	153,880	442,902	434,804
Interest expense	13,408	15,499	44,879	44,751
Provision (release) for loan losses	0	(426)	0	(3,755)
Decrease in fair value	(29,633)	(24,339)	(177,584)	(78,567)
Net revenue	93,726	114,468	220,439	315,241
Technology and facilities	31,641	26,772	93,927	72,849
Sales and marketing	20,634	24,717	65,521	69,084
Personnel	26,662	28,637	79,925	66,414
Outsourcing and professional fees	11,491	16,041	36,232	42,797
General, administrative and other	11,138	3,886	17,591	10,816
Total operating expenses	101,566	100,053	293,196	261,960
Income (loss) before taxes	(7,840)	14,415	(72,757)	53,281
Income tax expense (benefit)	(1,794)	4,386	(19,162)	14,846
Net income (loss)	(6,046)	10,029	(53,595)	38,435
Change in post-termination benefit obligation	6	8	(106)	(36)
Total comprehensive income (loss)	(6,040)	10,037	(53,701)	38,399
Net income (loss) attributable to common stockholders	$ (6,046)	$ (27,427)	$ (53,595)	$ 0
Earnings Per Share, Basic	$ (0.22)	$ (6.39)	$ (1.97)	$ 0
Earnings Per Share, Diluted	$ (0.22)	$ (6.39)	$ (1.97)	$ 0
Weighted Average Number of Shares Outstanding, Basic	27,459,192	4,294,107	27,237,246	3,397,503
Weighted Average Number of Shares Outstanding, Diluted	27,459,192	4,294,107	27,237,246	3,397,503

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Redeemable Preferred Stock [Member]	Redeemable Preferred Stock [Member]Conversion of Preferred Stock to Common Stock	Warrant [Member]	Warrant [Member]Conversion of Common Stock Warrants to Common Stock	Warrant [Member]Issuance of Preferred and Conversion to Common Stock Upon Exercise of Warrants Net	Common Stock [Member]	Common Stock [Member]Conversion of Common Stock Warrants to Common Stock	Common Stock [Member]Conversion of Preferred Stock to Common Stock	Common Stock [Member]Issuance of Preferred and Conversion to Common Stock Upon Exercise of Warrants Net	Preferred Stock [Member]	Preferred Stock [Member]Conversion of Preferred Stock to Common Stock	APIC - Convertible Preferred Stock [Member]	APIC - Convertible Preferred Stock [Member]Conversion of Preferred Stock to Common Stock	Warrant [Member]	Warrant [Member]Conversion of Common Stock Warrants to Common Stock	Warrant [Member]Issuance of Preferred and Conversion to Common Stock Upon Exercise of Warrants Net	Common Stock [Member]	Common Stock [Member]Conversion of Preferred Stock to Common Stock	APIC - Common Stock [Member]	APIC - Common Stock [Member]Conversion of Common Stock Warrants to Common Stock	APIC - Common Stock [Member]Conversion of Preferred Stock to Common Stock	APIC - Common Stock [Member]Issuance of Preferred and Conversion to Common Stock Upon Exercise of Warrants Net	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Retained Earnings [Member]Conversion of Preferred Stock to Common Stock	Treasury Stock [Member]	Treasury Stock [Member]Conversion of Common Stock Warrants to Common Stock
Shares, Outstanding - Period Start at Dec. 31, 2018		14,043,977		24,959			2,935,249
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest - Period Start at Dec. 31, 2018	$ 346,549										$ 16		$ 257,887		$ 130			$ 3		$ 44,411				$ (132)	$ 52,662		$ (8,428)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period							7,317
Stock Issued During Period, Value, Stock Options Exercised	142																			142
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	1,980																			1,980
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	(125)																								(125)
Other Comprehensive Income (Loss), Net of Tax	(3)																							(3)
Net Income (Loss) Attributable to Parent	14,614																								14,614
Shares, Outstanding - Period End at Mar. 31, 2019		14,043,977		24,959			2,942,566
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest - Period End at Mar. 31, 2019	363,157										16		257,887		130			3		46,533				(135)	67,151		(8,428)
Shares, Outstanding - Period Start at Dec. 31, 2018		14,043,977		24,959			2,935,249
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest - Period Start at Dec. 31, 2018	346,549										16		257,887		130			3		44,411				(132)	52,662		(8,428)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends, Preferred Stock, Paid-in-kind	37,456
Net Income (Loss) Attributable to Parent	38,435
Shares, Outstanding - Period End at Sep. 30, 2019		0		15,869			27,001,251
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest - Period End at Sep. 30, 2019	461,117										0		0		63			6		416,196				(168)	53,516		(8,496)
Shares, Outstanding - Period Start at Mar. 31, 2019		14,043,977		24,959			2,942,566
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest - Period Start at Mar. 31, 2019	363,157										16		257,887		130			3		46,533				(135)	67,151		(8,428)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period							2,216
Stock Issued During Period, Value, Stock Options Exercised	4																			4
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	2,035																			2,035
Other Comprehensive Income (Loss), Net of Tax	(41)																							(41)
Net Income (Loss) Attributable to Parent	13,792																								13,792
Shares, Outstanding - Period End at Jun. 30, 2019		14,043,977		24,959			2,944,782
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest - Period End at Jun. 30, 2019	378,947										16		257,887		130			3		48,572				(176)	80,943		(8,428)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period							96,371
Stock Issued During Period, Value, Stock Options Exercised	645																			645
Adjustments to Additional Paid in Capital, Other	(86)																			(86)
Stock Issued During Period, Shares, New Issues							4,873,356
Stock Issued During Period, Value, New Issues	60,479																			60,479
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	11,163																			11,163
Dividends, Preferred Stock, Paid-in-kind	37,456																									$ (37,456)
Stockholders' Equity, Other Shares			(14,043,977)			(9,090)
Stockholders' Equity, Other												$ (16)		$ (257,887)			$ (67)
Stock Issued During Period, Shares, Conversion of Convertible Securities									19,075,167	3,969
Stock Issued During Period, Value, Conversion of Convertible Securities																			$ 3			$ 295,356	$ 67
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures							11,627
Shares Withheld, Value, Net Share Settlement	(68)																										(68)
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation							(4,021)
Other Comprehensive Income (Loss), Net of Tax	8																							8
Net Income (Loss) Attributable to Parent	10,029																								10,029
Shares, Outstanding - Period End at Sep. 30, 2019		0		15,869			27,001,251
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest - Period End at Sep. 30, 2019	461,117										0		0		63			6		416,196				(168)	53,516		(8,496)
Shares, Outstanding - Period Start at Dec. 31, 2019		0		23,512			27,003,157
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest - Period Start at Dec. 31, 2019	488,766										0		0		63			6		418,299				(162)	76,679		(6,119)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period							3,161
Stock Issued During Period, Value, Stock Options Exercised	20																			20
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	4,151																			4,151
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures							137,479
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	(813)																			(813)
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	4,835																								4,835
Other Comprehensive Income (Loss), Net of Tax	(117)																							(117)
Net Income (Loss) Attributable to Parent	(13,301)																								(13,301)
Shares, Outstanding - Period End at Mar. 31, 2020		0		23,512			27,143,797
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest - Period End at Mar. 31, 2020	483,541										0		0		63			6		421,657				(279)	68,213		(6,119)
Shares, Outstanding - Period Start at Dec. 31, 2019		0		23,512			27,003,157
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest - Period Start at Dec. 31, 2019	488,766										0		0		63			6		418,299				(162)	76,679		(6,119)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends, Preferred Stock, Paid-in-kind	0
Net Income (Loss) Attributable to Parent	(53,595)
Shares, Outstanding - Period End at Sep. 30, 2020		0		0			27,583,028
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest - Period End at Sep. 30, 2020	453,021										0		0		0			6		431,673				(268)	27,919		(6,309)
Shares, Outstanding - Period Start at Mar. 31, 2020		0		23,512			27,143,797
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest - Period Start at Mar. 31, 2020	483,541										0		0		63			6		421,657				(279)	68,213		(6,119)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period							22,407
Stock Issued During Period, Value, Stock Options Exercised	79																			79
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	4,972																			4,972
Stockholders' Equity, Other Shares					(23,512)
Stockholders' Equity, Other																$ (63)
Stock Issued During Period, Shares, Conversion of Convertible Securities								10,972
Stock Issued During Period, Value, Conversion of Convertible Securities																					$ 253
Treasury Stock, Value, Acquired, Cost Method																												$ (190)
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures							153,624
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	(17)																			(17)
Other Comprehensive Income (Loss), Net of Tax	5																							5
Net Income (Loss) Attributable to Parent	(34,248)																								(34,248)
Shares, Outstanding - Period End at Jun. 30, 2020		0		0			27,330,800
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest - Period End at Jun. 30, 2020	454,332										0		0		0			6		426,944				(274)	33,965		(6,309)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period							4,018
Stock Issued During Period, Value, Stock Options Exercised	24																			24
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	5,194																			5,194
Dividends, Preferred Stock, Paid-in-kind	0
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures							248,210
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	(489)																			(489)
Other Comprehensive Income (Loss), Net of Tax	6																							6
Net Income (Loss) Attributable to Parent	(6,046)																								(6,046)
Shares, Outstanding - Period End at Sep. 30, 2020		0		0			27,583,028
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest - Period End at Sep. 30, 2020	$ 453,021										$ 0		$ 0		$ 0			$ 6		$ 431,673				$ (268)	$ 27,919		$ (6,309)

Consolidated Statements of Cash

Consolidated Statements of Cash Flow - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Statement of Cash Flows [Abstract]
Net income (loss)	$ (53,595)	$ 38,435
Depreciation and amortization	14,878	9,658
Fair value adjustment, net	177,584	78,567
Origination fees for loans receivable at fair value, net	3,520	(2,172)
Gain (loss) on loans sale	(13,406)	(25,291)
Stock-based compensation expense	14,317	15,178
Provision (release) for loan losses	0	(3,755)
Deferred tax provision	(14,913)	5,082
Other, net	10,688	6,557
Origination of loans sold and held for sale	(134,552)	(248,441)
Proceeds from sale of loans	147,627	269,546
Interest and fee receivable, net	(3,678)	(3,407)
Increase (Decrease) in Other Assets	(8,242)	(23,283)
Increase (Decrease) in amount due to whole loan buyer	(6,544)	2,159
Increase (Decrease) in Other Liabilities	5,723	48,408
Net cash provided by operating activities	139,407	167,241
Origination of loans	(665,148)	(1,035,536)
Repayments of loan principal for loans	804,619	753,072
Purchase of fixed assets	(3,610)	(5,765)
Capitalization of system development costs	(16,492)	(11,734)
Net cash provided by (used in) investing activities	119,369	(299,963)
Borrowings under secured financing	414,000	82,000
Proceeds from Issuance Initial Public Offering	0	60,479
Borrowings under asset-backed notes	0	249,951
Payments of secured financing	(284,006)	(169,000)
Repayment of asset-backed notes	(360,001)	0
Repayments of capital lease obligations	(29)	(102)
Payments of Financing Costs	(205)	0
Net payments related to stock-based activities	(1,196)	638
Net cash provided by (used in) financing activities	(231,437)	223,966
Net increase in cash and cash equivalents and restricted cash	27,339	91,244
Cash and cash equivalents and restricted cash, beginning of period	136,141	129,175
Cash and cash equivalents and restricted cash, end of period	163,480	220,419
Total cash and cash equivalents and restricted cash	163,480	220,419
Cash paid for income taxes, net of refunds	2,443	2,786
Cash paid for interest and prepayment fees	44,219	42,845
Operating Lease, Payments	11,730	9,337
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	7,404	46,156
Dividends, Preferred Stock, Paid-in-kind	0	37,456
Purchases of fixed assets included in accounts payable and accrued liabilities	$ 491	$ 862

Organization and Description of

Organization and Description of the Business	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Organization and Description of Business	1. Organization and Description of Business Oportun Financial Corporation (together with its subsidiaries, "Oportun" or the " Company") is a technology-powered and mission-driven provider of inclusive, affordable financial services to customers who do not have a credit score, known as credit invisibles, or who may have a limited credit history and are "mis-scored," meaning that the Company believes that traditional credit scores do not properly reflect such customers’ credit worthiness. The Company's primary product offerings are small dollar, unsecured installment loans that are affordably priced and that help customers establish a credit history. The Company has begun to expand beyond its core offering into other financial services that a significant portion of its customers already use, such as auto loans and credit cards. The Company has developed a proprietary lending platform that enables the Company to underwrite the risk of low- and moderate-income customers that are credit invisible or mis-scored, leveraging data collected through the application process and data obtained from third-party data providers, and a technology platform for application processing, loan accounting and servicing. The Company is headquartered in San Carlos, California. The Company has been certified by the United States Department of the Treasury as a Community Development Financial Institution ("CDFI") since 2009. The Company uses securitization transactions, warehouse facilities and whole loan sales, to finance the principal amount of most of the loans it makes to its customers. Segments Segments are defined as components of an enterprise for which discrete financial information is available and evaluated regularly by the chief operating decision maker ("CODM") in deciding how to allocate resources and in assessing performance. The Company’s Chief Executive Officer and the Company's Chief Financial Officer are collectively considered to be the CODM. The CODM reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. The Company’s operations constitute a single reportable segment. Initial Public Offering On September 30, 2019, the Company completed its initial public offering (“IPO”), in which it issued and sold 4,873,356 shares of common stock and selling stockholders sold 2,314,144 shares of common stock, including the underwriters' over-allotment, at a price of $15.00 per share with net proceeds to the Company of approximately $60.5 million, after deducting underwriting discounts and commissions of $5.1 million and offering expenses paid by the Company of approximately $7.5 million. In connection with the IPO, all 14,043,977 shares of the Company’s outstanding redeemable convertible preferred stock automatically converted into 19,075,167 shares of common stock. Additionally, on September 26, 2019, 3,969 shares of common stock were issued in connection with the cashless exercise of 9,090 Series F-1 convertible preferred stock warrants. O n Se

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies [Text Block]	2. Summary of Significant Accounting Policies Basis of Presentation ‑ The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). These statements are unaudited and reflect all normal, recurring adjustments that are, in management's opinion, necessary for the fair presentation of results. The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Certain prior-period financial information has been reclassified to conform to current period presentation. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited consolidated financial statements and the related notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2019 ("the Annual Report"), filed with the Securities and Exchange Commission ("SEC") on February 28, 2020. All share and per share amounts for all periods presented in the accompanying condensed consolidated financial statements and notes thereto have been adjusted retroactively, where applicable, to reflect the Company's one-for-eleven reverse stock split. See "Initial Public Offering" above for additional information. Use of Estimates ‑ The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of income and expenses during the reporting period. These estimates are based on information available as of the date of the condensed consolidated financial statements; therefore, actual results could differ from those estimates and assumptions. Accounting Policies - There have been no changes to the Company's significant accounting policies from those described in Part II, Item 8 - Financial Statements and Supplementary Data in the Annual Report, except for the new accounting pronouncements subsequently adopted as noted below. Recently Adopted Accounting Standards Allowance for Loan Losses and Fair Value Option ‑ In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments. This guidance significantly changes the way entities are required to measure credit losses. Under the new standard, estimated credit losses are based upon an expected credit loss approach rather than an incurred loss approach that was previously required. In May 2019, the FASB issued ASU 2019-05, Financial Instruments-Credit Losses (Topic 326): Targeted Transition . This ASU provides an option to irrevocably elect the fair value option applied on an instrument-by-instrument basis for certain financial assets upon the adoption of Topic 326. In November 2019, the FASB issued ASU 2019-10, Financial Instruments - Credit Loss (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) , which deferred the effective date for public filers that are considered smaller reporting companies as defined by the SEC to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted in fiscal years beginning after December 15, 2018, including interim periods in those fiscal years. The Company elected to early adopt ASU 2016-13 and ASU 2019-05 effective January 1, 2020. The Company previously elected the fair value option for all loans originated after January 1, 2018. Upon adoption of ASU 2019-05, the Company elected the fair value option on all loans receivable originated prior to January 1, 2018 that were previously measured at amortized cost. As a result, adoption of ASU 2016-13 did not have impact on the Company's condensed consolidated financial statements and disclosures. The Company made an accounting policy election not to measure an allowance for credit losses on accrued interest receivable amounts as the Company writes off the uncollectible accrued interest receivable balance in a timely manner and makes relevant disclosures. The adoption of ASU 2019-05 and fair value election resulted in (i) the release of the remaining allowance for loan losses on Loans Receivable at Amortized Cost as of December 31, 2019; (ii) recognition of the unamortized net originations fee income as of December 31, 2019; and (iii) measurement of the remaining loans originated prior to January 1, 2018 at fair value. These adjustments resulted in an increase to opening retained earnings as of January 1, 2020 of approximately $4.8 million . ASU 2019-05 does not allow for the fair value option to be elected on the Company's asset-backed notes carried at amortized cost. Fair Value Disclosures ‑ In August 2018, the FASB issued ASU 2018-13, Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement , which amends ASC 820, Fair Value Measurement . This ASU simplifies the disclosure requirements for fair value measurements. The Company adopted this ASU effective January 1, 2020. The simplified disclosure requirements included a new disclosure for the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements and the narrative description of measurement uncertainty. These new disclosure requirements were applied prospectively. Cloud Computing Arrangements - In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use-Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. This ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The Company adopted the amendments of this ASU effective January 1, 2020 on a prospective basis with no impact upon adoption. All eligible implementation costs related to cloud computing arrangements are now recorded as part of "prepaid expenses" within "Other assets" on the Condensed Consolidated Balance Sheets (Unaudited). The amortization expense is presented in the same line on the income statement as the fees for the associated hosted service within "Operating expenses" on the Company's Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited), and the cash payments related to implementation of cloud computing arrangements are classified as "cash flows from operating activities" within the Condensed Consolidated Statements of Cash Flow (Unaudited). Accounting Standards to be Adopted Income Taxes - In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes . This ASU is intended to simplify the accounting for income taxes by removing certain exceptions to the general principles of accounting for income taxes and to improve the consistent application of GAAP for other areas of accounting for income taxes by clarifying and amending existing guidance. The ASU is effective for fiscal years beginning after December 15, 2020. Early adoption is permitted. The Company is currently evaluating the effect that the new guidance will have on its consolidated financial statements and disclosures. Reference Rate Reform - In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments in this ASU provide optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform if certain criteria are met. An entity may elect to apply the amendments for contract modifications as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020. The amendments in this ASU must be applied prospectively for all eligible contract modifications. The Company has evaluated the effect of the new guidance and determined it will not have a material impact on its consolidated financial statements and disclosures.

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	3. Earnings (Loss) per Share Basic and diluted earnings (loss) per share are calculated as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except share and per share data) 2020 2019 2020 2019 Net income (loss) $ (6,046) $ 10,029 $ (53,595) $ 38,435 Less: Additional common stock issued to Series G shareholders — (37,456) — (37,456) Less: Net income allocated to participating securities (1) — — — (979) Net (loss) income attributable to common stockholders $ (6,046) $ (27,427) $ (53,595) $ — Basic weighted-average common shares outstanding 27,459,192 4,294,107 27,237,246 3,397,503 Weighted average effect of dilutive securities: Stock options — — — — Restricted stock units — — — — Warrants — — — — Diluted weighted-average common shares outstanding 27,459,192 4,294,107 27,237,246 3,397,503 Earnings (loss) per share: Basic $ (0.22) $ (6.39) $ (1.97) $ — Diluted $ (0.22) $ (6.39) $ (1.97) $ — (1) In a period of net income, both earnings and dividends (if any) are allocated to participating securities. In a period of net loss, only dividends (if any) are allocated to participating securities. The following common share equivalent securities have been excluded from the calculation of diluted weighted-average common shares outstanding because the effect is anti-dilutive for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Stock options 4,462,158 4,571,154 4,352,649 4,705,200 Restricted stock units 2,331,678 1,325,166 2,120,068 779,776 Warrants — 24,880 13,866 24,933 Convertible preferred stock — 16,266,773 — 16,886,597 Total anti-dilutive common share equivalents 6,793,836 22,187,973 6,486,583 22,396,506

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entity Disclosure	4. Variable Interest Entities As part of the Company’s overall funding strategy, the Company transfers a pool of designated loans receivable to wholly owned special-purpose subsidiaries ("VIEs") to collateralize certain asset-backed financing transactions. The Company has determined that it is the primary beneficiary of these VIEs because it has the power to direct the activities that most significantly impact the VIEs’ economic performance and the obligation to absorb the losses or the right to receive benefits from the VIEs that could potentially be significant to the VIEs. Such power arises from the Company’s contractual right to service the loans receivable securing the VIEs’ asset-backed debt obligations. The Company has an obligation to absorb losses or the right to receive benefits that are potentially significant to the VIEs because it retains the residual interest of each asset-backed financing transaction either in the form of an asset-backed certificate or as an uncertificated residual interest. Accordingly, the Company includes the VIEs’ assets, including the assets securing the financing transactions, and related liabilities in its consolidated financial statements. Each VIE issues a series of asset-backed securities that are supported by the cash flows arising from the loans receivable securing such debt. Cash inflows arising from such loans receivable are distributed monthly to the transaction’s noteholders and related service providers in accordance with the transaction’s contractual priority of payments. The creditors of the VIEs above have no recourse to the general credit of the Company as the primary beneficiary of the VIEs and the liabilities of the VIEs can only be settled by the respective VIE’s assets. The Company retains the most subordinated economic interest in each financing transaction through its ownership of the respective residual interest in each VIE. The Company has no obligation to repurchase loans receivable that initially satisfied the financing transaction’s eligibility criteria but subsequently became delinquent or a defaulted loans receivable. The following table represents the assets and liabilities of consolidated VIEs recorded on the Company’s Condensed Consolidated Balance Sheets (Unaudited): September 30, December 31, (in thousands) 2020 2019 Consolidated VIE assets Restricted cash $ 25,004 $ 28,821 Loans receivable at fair value 1,488,861 1,745,465 Loans receivable at amortized cost — 41,747 Interest and fee receivable 15,352 15,874 Total VIE assets 1,529,217 1,831,907 Consolidated VIE liabilities Secured financing (1) 191,994 62,000 Asset-backed notes at fair value 1,125,444 1,129,202 Asset-backed notes at amortized cost (1) — 360,001 Total VIE liabilities $ 1,317,438 $ 1,551,203 (1) Amounts exclude deferred financing costs. See Note 8, Borrowings for additional information.

Loans Receivable at Amortized C

Loans Receivable at Amortized Cost, Net	9 Months Ended
	Sep. 30, 2020
Receivables [Abstract]
Loans Receivable at Amortized Cost	5. Loans Receivable at Amortized Cost, Net

Loans Held for Sale

Loans Held for Sale	9 Months Ended
	Sep. 30, 2020
Transfers and Servicing [Abstract]
Transfers and Servicing of Financial Assets [Text Block]	6. Loans Held for Sale Whole Loan Sale Program ‑ In November 2014, the Company entered into a whole loan sale agreement with an institutional investor, which agreement has been amended from time to time. The term of the current agreement was set to expire on November 10, 2020. The parties have agreed to extend the agreement on the same terms through December 10, 2020. Additional extensions may be considered on a month-to-month basis. Pursuant to the agreement, the Company sells at least 10% of its unsecured loan originations, with an option to sell an additional 5%, subject to certain eligibility criteria and minimum and maximum volumes. In addition, from July 2017 to August 2020, the Company was party to a separate whole loan sale arrangement with an institutional investor providing for a commitment to sell 100% of the Company’s loans originated under its Access Loan Program. The Company chose not to renew the arrangement and allowed the agreement to expire on its terms on August 5, 2020.

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets Disclosure [Text Block]	7. Other Assets Other assets consist of the following: September 30, December 31, (in thousands) 2020 2019 Fixed assets Computer and office equipment $ 10,993 $ 10,432 Furniture and fixtures 11,030 10,768 Purchased software 4,945 4,527 Vehicles 79 171 Leasehold improvements 28,987 27,701 Total cost 56,034 53,599 Less: Accumulated depreciation (37,298) (30,765) Total fixed assets, net $ 18,736 $ 22,834 System development costs: System development costs $ 53,186 $ 36,795 Less: Accumulated amortization (26,071) (18,456) Total system development costs, net $ 27,115 $ 18,339 Servicer fee and whole loan receivables 1,102 6,621 Prepaid expenses 13,318 12,217 Deferred tax assets 1,346 1,563 Tax assets and other 20,695 15,197 Total other assets $ 82,312 $ 76,771 Fixed Assets Depreciation and amortization expense for the three months ended September 30, 2020 and 2019 was $2.2 million and $2.3 million, respectively, and for the nine months ended September 30, 2020 and 2019 it was $7.3 million, and $6.2 million, respectively. System Development Costs Amortization of system development costs for the three months ended September 30, 2020 and 2019 was $2.9 million and $1.3 million, respectively, and for the nine months ended September 30, 2020 and 2019 they were $7.6 million and $3.2 million, respectively. System development costs capitalized in the three months ended September 30, 2020 and 2019, were $5.3 million and $5.1 million, respectively, and for the nine months ended September 30, 2020 and 2019 they were $16.4 million and $12.2 million, respectively.

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	8. Borrowings The following table presents information regarding the Company's Secured Financing facility: September 30, 2020 Variable Interest Entity Current Balance Commitment Amount Maturity Date Interest Rate (in thousands) Oportun Funding V, LLC $ 191,180 $ 400,000 October 1, 2021 LIBOR (minimum of 0.00%) + 2.45% December 31, 2019 Variable Interest Entity Current Balance Commitment Amount Maturity Date Interest Rate (in thousands) Oportun Funding V, LLC $ 60,910 $ 400,000 October 1, 2021 LIBOR (minimum of 0.00%) + 2.45% The Company elected the fair value option for all asset-backed notes issued on or after January 1, 2018. The following table presents information regarding asset-backed notes: September 30, 2020 Variable Interest Entity Initial note amount issued (1) Initial collateral balance (2) Current balance (1) Current collateral balance (2) Weighted average interest rate (3) Original revolving period (in thousands) Asset-backed notes recorded at fair value: Oportun Funding XIII, LLC (Series 2019-A) $ 279,412 $ 294,118 $ 252,049 $ 299,659 3.22 % 3 years Oportun Funding XII, LLC (Series 2018-D) 175,002 184,213 177,768 187,641 4.50 % 3 years Oportun Funding X, LLC (Series 2018-C) 275,000 289,474 278,618 294,913 4.39 % 3 years Oportun Funding IX, LLC (Series 2018-B) 225,001 236,854 216,490 241,294 4.09 % 3 years Oportun Funding VIII, LLC (Series 2018-A) 200,004 222,229 200,519 226,632 3.83 % 3 years Total asset-backed notes recorded at fair value $ 1,154,419 $ 1,226,888 $ 1,125,444 $ 1,250,139 December 31, 2019 Variable Interest Entity Initial note amount issued (1) Initial collateral balance (2) Current balance (1) Current collateral balance (2) Weighted average interest rate (3) Original revolving period (in thousands) Asset-backed notes recorded at fair value: Oportun Funding XIII, LLC (Series 2019-A) $ 279,412 $ 294,118 $ 251,090 $ 299,813 3.22 % 3 years Oportun Funding XII, LLC (Series 2018-D) 175,002 184,213 178,980 187,447 4.50 % 3 years Oportun Funding X, LLC (Series 2018-C) 275,000 289,474 280,852 294,380 4.39 % 3 years Oportun Funding IX, LLC (Series 2018-B) 225,001 236,854 216,306 241,000 4.09 % 3 years Oportun Funding VIII, LLC (Series 2018-A) 200,004 222,229 201,974 225,945 3.83 % 3 years Total asset-backed notes recorded at fair value $ 1,154,419 $ 1,226,888 $ 1,129,202 $ 1,248,585 Asset-backed notes recorded at amortized cost: Oportun Funding VII, LLC (Series 2017-B) $ 200,000 $ 222,231 $ 199,413 $ 225,925 3.51 % 3 years Oportun Funding VI, LLC (Series 2017-A) 160,001 188,241 159,698 191,223 3.36 % 3 years Total asset-backed notes recorded at amortized cost $ 360,001 $ 410,472 $ 359,111 $ 417,148 (1) Initial note amount issued includes notes retained by the Company as applicable. The current balances are measured at fair value for asset-backed notes recorded at fair value and measured at carrying amount for asset-back notes recorded at amortized cost. (2) Includes the unpaid principal balance of loans receivable, cash, cash equivalents and restricted cash pledged by the Company. (3) Weighted average interest rate excludes notes retained by the Company. On July 8, 2020, the Company redeemed its 2017-B asset-backed notes. The redemption was funded by drawing upon the Company's Secured Financing facility for $149.0 million and using $51.0 million of unrestricted cash. On March 9, 2020, the Company redeemed its Series 2017-A asset-backed notes. Advances under the Company’s Secured Financing facility were the primary source of funds for the redemption. After the redemptions of our Series 2017-B and 2017-A asset-back notes, the Company did not have any asset-backed notes recorded at amortized cost as of September 30, 2020. As of September 30, 2020, and December 31, 2019, the Company was in compliance with all covenants and requirements of the Secured Financing facility and asset-backed notes. In October 2020, the Company raised $39.8 million, net of fees and expenses, by selling $41.3 million of retained bonds related to our 2019-A and 2018-B asset-backed notes.

Other Liabilities

Other Liabilities	9 Months Ended
	Sep. 30, 2020
Other Liabilities Disclosure [Abstract]
Other Liabilities Disclosure [Text Block]	9. Other Liabilities Other liabilities consist of the following: September 30, December 31, (in thousands) 2020 2019 Accounts payable $ 2,579 $ 5,919 Accrued compensation 25,983 22,226 Accrued expenses 23,139 12,965 Accrued interest 3,067 3,842 Deferred tax liabilities 9,738 24,868 Current tax liabilities and other 4,870 7,354 Total other liabilities $ 69,376 $ 77,174

Stockholders' Equity (Notes)

Stockholders' Equity (Notes)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	10. Stockholders' Equity Convertible Preferred Stock - Immediately prior to the completion of the IPO, all 14,043,977 shares of convertible preferred stock were converted into 19,075,167 shares of the Company's common stock. The conversion of all of the Company's convertible preferred stock included an additional 1,873,355 shares of common stock issued for the conversion of the Series G convertible preferred stock to reflect the conversion rate of the Series G convertible preferred stock. The additional 1,873,355 shares issued to Series G convertible preferred stock holders resulted in a $37.5 million reduction to retained earnings and a corresponding increase to additional paid-in capital. There were no shares of convertible preferred stock issued or outstanding as of September 30, 2020 or December 31, 2019. Preferred Stock - The Board has the authority, without further action by the Company's stockholders, to issue up to 100,000,000 shares of undesignated preferred stock with rights and preferences, including voting rights, designated from time to time by the Board. There were no shares of undesignated preferred stock issued or outstanding as of September 30, 2020 or December 31, 2019. Common Stock - As of September 30, 2020 and December 31, 2019, the Company was authorized to issue 1,000,000,000 shares of common stock with a par value of $0.0001 per share. As of September 30, 2020, 27,855,051 and 27,583,028 shares were issued and outstanding, respectively, and 272,023 shares were held in treasury stock. As of December 31, 2019, 27,262,639 and 27,003,157 shares were issued and outstanding, respectively, and 259,482 shares were held in treasury stock. Warrants - On September 26, 2019, 3,969 shares of convertible preferred stock were issued in connection with the cashless exercise of 9,090 Series F-1 convertible preferred stock warrants. All 3,969 shares of convertible preferred stock were converted to common stock in connection with the IPO. On June 9, 2020, 10,972 shares of common stock were issued in connection with the cashless exercise of the outstanding common stock warrants. No warrants were outstanding as of September 30, 2020.

Equity Compensation and Other B

Equity Compensation and Other Benefits	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Shareholders' Equity and Share-based Payments [Text Block]	11. Equity Compensation and Other Benefits The Company's stock-based plans are described and informational disclosures are provided in the Notes to the Consolidated Financial Statements included in the Annual Report. Stock-based Compensation - Total stock-based compensation expense included in the Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Technology and facilities $ 1,010 $ 1,310 $ 2,693 $ 2,068 Sales and marketing 32 43 92 95 Personnel 4,152 9,810 11,532 13,015 Total stock-based compensation $ 5,194 $ 11,163 $ 14,317 $ 15,178 As of September 30, 2020, and December 31, 2019, the Company’s total unrecognized compensation cost related to nonvested stock-based option awards granted to employees was $11.0 million and $10.1 million, respectively, which will be recognized over a weighted-average vesting period of approximately 2.8 years and 2.4 years, respectively. As of September 30, 2020 and December 31, 2019, the Company's total unrecognized compensation cost related to nonvested restricted stock unit awards granted to employees was $41.6 million and $21.2 million, respectively, which will be recognized over a weighted average vesting period of approximately 3.1 years and 3.0 years, respectively. The Company capitalized compensation expense related to stock-based compensation of $0.3 million and $0.7 million for the three and nine months ended September 30, 2020, respectively, and capitalized $0.4 million and $0.6 million for the three and nine months ended September 30, 2019, respectively.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	12. Revenue Interest Income - Total interest income included in the Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Interest income Interest on loans $ 127,267 $ 136,803 $ 410,124 $ 389,104 Fees on loans 1,472 2,469 5,401 6,674 Total interest income 128,739 139,272 415,525 395,778 Non-interest Income - Total non-interest income included in the Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Non-interest income Gain on loan sales $ 3,882 $ 9,495 $ 13,406 $ 25,291 Servicing fees 3,515 3,932 12,003 11,149 Other income 631 1,181 1,968 2,586 Total non-interest income $ 8,028 $ 14,608 $ 27,377 $ 39,026

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	13. Income Taxes

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	14. Fair Value of Financial Instruments Financial Instruments at Fair Value The Company previously elected the fair value option to account for all loans receivable held for investment that were originated on or after January 1, 2018 (the "Initial Fair Value Loans"), and for all asset-backed notes issued on or after January 1, 2018 (the "Fair Value Notes"). Upon adoption of ASU 2019-05, effective January 1, 2020, the Company elected the fair value option on all loans receivable previously measured at amortized cost (the "Subsequent Fair Value Loans" and together with the Initial Fair Value Loans, the "Fair Value Loans"). Accordingly, for the nine months ended September 30, 2020, the Company did not have any loans receivable measured at amortized cost. Asset-backed notes issued prior to January 1, 2018 are accounted for at amortized cost, net. After the redemption of our Series 2017-B asset-back notes on July 8, 2020, we did not have any asset-backed notes at amortized cost as of September 30, 2020. Loans that the Company designates for sale will continue to be accounted for as held for sale and recorded at the lower of cost or fair value until the loans receivable are sold. The table below compares the fair value of loans receivable and asset-backed notes to their contractual balances for the periods shown: September 30, 2020 December 31, 2019 (in thousands) Unpaid Principal Balance Fair Value Unpaid Principal Balance Fair Value Assets Loans receivable $ 1,575,183 $ 1,605,388 $ 1,800,418 $ 1,882,088 Liabilities Asset-backed notes 1,113,165 1,125,444 1,113,165 1,129,202 The Company calculates the fair value of the Fair Value Notes using independent pricing services and broker price indications, which are based on quoted prices for identical or similar notes, which are Level 2 input measures. The Company primarily uses a discounted cash flow model to estimate the fair value of Level 3 instruments based on the present value of estimated future cash flows. This model uses inputs that are inherently judgmental and reflect management’s best estimates of the assumptions a market participant would use to calculate fair value. With the impact of COVID-19 on the securities market, the Company has included some expected market degradation in its model to reflect the possibility of delinquency rates increasing in the near term (and the corresponding increase in charge-offs and decrease in payments), deviating from what historical trends would suggest. The impact of COVID-19 on the economy continues to be a fluid situation and the Company will continue to adapt accordingly. The following tables present quantitative information about the significant unobservable inputs used for the Company’s Level 3 fair value measurements: September 30, 2020 December 31, 2019 Minimum Maximum Weighted Average (2) Minimum (3) Maximum (3) Weighted Average Remaining cumulative charge-offs (1) 6.52% 64.07% 10.61% — — 9.61% Remaining cumulative prepayments (1) —% 34.71% 28.34% — — 34.95% Average life (years) 0.21 1.30 0.78 — — 0.81 Discount rate — — 7.84% — — 7.77% (1) Figure disclosed as a percentage of outstanding principal balance. (2) Unobservable inputs were weighted by outstanding principal balance, which are grouped by risk (type of customer, original loan maturity terms). (3) The Company adopted ASU 2018-13 on a prospective basis, effective January 1, 2020, therefore, these disclosures are not required as of December 31, 2019. Fair value adjustments related to financial instruments where the fair value option has been elected are recorded through earnings for the nine months ended September 30, 2020 and 2019. Certain unobservable inputs may (in isolation) have either a directionally consistent or opposite impact on the fair value of the financial instrument for a given change in that input. When multiple inputs are used within the valuation techniques for loans, a change in one input in a certain direction may be offset by an opposite change from another input. The Company developed an internal model to estimate the Fair Value Loans. To generate future expected cash flows, the model combines receivable characteristics with assumptions about borrower behavior based on the Company’s historical loan performance. These cash flows are then discounted using a required rate of return that management estimates would be used by a market participant. The Company tested the fair value model by comparing modeled cash flows to historical loan performance to ensure that the model was complete, accurate and reasonable for the Company’s use. The Company also engaged a third party to create an independent fair value estimate for the Fair Value Loans, which provides a set of fair value marks using the Company’s historical loan performance data and whole loan sale prices to develop independent forecasts of borrower behavior. Their model generates expected cash flows which were then aggregated and compared to the Company’s actual cash flows within an acceptable range. The Company's internal valuation committee provides governance and oversight over the fair value pricing calculations and related financial statement disclosures. Additionally, this committee provides a challenge of the assumptions used and outputs of the model, including the appropriateness of such measures and periodically reviews the methodology and process to determine the fair value pricing. Any significant changes to the process must be approved by the committee. The table below presents a reconciliation of loans receivable at fair value on a recurring basis using significant unobservable inputs: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Balance – beginning of period $ 1,635,684 $ 1,513,413 $ 1,882,088 $ 1,227,469 Adjustment upon adoption of ASU 2019-05 — — 43,323 — Principal disbursements 283,894 459,227 804,767 1,216,582 Principal payments from customers (305,883) (266,663) (927,175) (696,173) Gross charge-offs (48,135) (31,229) (145,373) (82,275) Net increase (decrease) in fair value 39,828 7,141 (52,242) 16,286 Balance – end of period $ 1,605,388 $ 1,681,889 $ 1,605,388 $ 1,681,889 As of September 30, 2020, the aggregate fair value of loans that are 90 days or more past due and in non-accrual status was $2.0 million, and the aggregate unpaid principal balance for loans that are 90 days or more past due was $11.6 million. As of December 31, 2019, the aggregate fair value of loans that are 90 days or more past due and in non-accrual status was $3.6 million, and the aggregate unpaid principal balance for loans that are 90 days or more past due was $15.8 million. Financial Instruments Disclosed But Not Carried at Fair Value The following table presents the carrying value and estimated fair values of financial assets and liabilities disclosed but not carried at fair value and the level within the fair value hierarchy: September 30, 2020 Carrying value Estimated fair value Estimated fair value (in thousands) Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 109,656 $ 109,656 $ 109,656 $ — $ — Restricted cash 53,824 53,824 53,824 — — Loans receivable at amortized cost, net (Note 5) — — — — — Loans held for sale (Note 6) 1,046 1,046 — — 1,046 Liabilities Accounts payable 2,579 2,579 2,579 — — Secured financing (Note 8) 191,994 189,716 — 189,716 — December 31, 2019 Carrying value Estimated fair value Estimated fair value (in thousands) Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 72,179 $ 72,179 $ 72,179 $ — $ — Restricted cash 63,962 63,962 63,962 — — Loans receivable at amortized cost, net (Note 5) 38,471 43,482 — — 43,482 Loans held for sale (Note 6) 715 772 — — 772 Liabilities Accounts payable 5,919 5,919 5,919 — — Secured financing (Note 8) 62,000 62,000 — 62,000 — Asset-backed notes at amortized cost (Note 8) 359,111 360,668 — 360,668 — The Company uses the following methods and assumptions to estimate fair value: • Cash, cash equivalents, restricted cash and accounts payable ‑ The carrying values of certain of the Company’s financial instruments, including cash and cash equivalents, restricted cash and accounts payable, approximate Level 1 fair values of these financial instruments due to their short-term nature. • Loans receivable ‑ The fair value of loans receivable recorded at amortized cost were estimated by discounting the future expected cash flows using a required rate of return that management estimates would be used by a market participant. • Loans held for sale ‑ The fair values of loans held for sale are based on a negotiated agreement with the purchaser. • Secured financing and asset-backed notes ‑ The fair values of secured financing and asset-backed notes recorded at carrying value have been calculated using discount rates equivalent to the weighted-average market yield of comparable debt securities. The Company's asset-backed notes are valued by independent pricing services and brokers using quoted prices for identical or similar notes, which are Level 2 input measures. There were no transfers in or out of Level 3 assets and liabilities for the three and nine months ended September 30, 2020 and 2019 and the year ended December 31, 2019.

Leases, Commitments and Conting

Leases, Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	15. Leases, Commitments and Contingencies Leases - The Company’s leases are primarily for real property consisting of retail locations and office space and have remaining lease terms of 10 years or less. The Company has elected the practical expedient to keep leases with terms of 12 months or less off the balance sheet as no recognition of a lease liability and a right-of-use asset is required. Operating lease expense is recognized on a straight-line basis over the lease term in "Technology and facilities" in the Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited). Most of the Company’s existing lease arrangements are classified as operating leases. At the inception of a contract, the Company determines if the contract is or contains a lease. At the commencement date of a lease, the Company recognizes a lease liability equal to the present value of the lease payments and a right-of-use asset representing the Company's right to use the underlying asset for the duration of the lease term. The Company’s leases include options to extend or terminate the arrangement at the end of the original lease term. The Company generally does not include renewal or termination options in its assessment of the leases unless extension or termination for certain assets is deemed to be reasonably certain. Variable lease payments and short-term lease costs were deemed immaterial. The Company’s leases do not provide an explicit rate. The Company uses its contractual borrowing rate to determine lease discount rates. As of September 30, 2020, maturities of lease liabilities, excluding short-term leases and leases on a month-to-month basis, were as follows: (in thousands) Operating Leases Lease expense 2020 (remaining three months) $ 4,148 2021 14,767 2022 11,971 2023 10,117 2024 8,615 2025 6,562 Thereafter 1,443 Total lease payments 57,623 Imputed interest (5,499) Total leases $ 52,124 Sublease income 2020 (remaining three months) $ (435) 2021 and thereafter — Total lease payments (435) Imputed interest 3 Total sublease income $ (432) Net lease liabilities $ 51,692 Weighted average remaining lease term 4.6 years Weighted average discount rate 4.46 % As of December 31, 2019, maturities of lease liabilities, excluding short-term leases and leases on a month-to-month basis, were as follows: (in thousands) Operating Leases Lease expense 2020 15,227 2021 12,439 2022 9,663 2023 8,340 2024 7,488 Thereafter 7,293 Total lease payments 60,450 Imputed interest (6,240) Total leases $ 54,210 Sublease income 2020 (861) 2021 and thereafter — Total lease payments (861) Imputed interest 8 Total sublease income $ (853) Net lease liabilities $ 53,357 Weighted average remaining lease term 5.0 years Weighted average discount rate 4.49 % Purchase Commitment ‑ The Company has commitments to purchase information technology and communication services in the ordinary course of business, with various terms through 2023. These amounts are not reflective of the Company’s entire anticipated purchases under the related agreements; rather, they are determined based on the non-cancelable amounts to which the Company is contractually obligated. The Company’s purchase obligations are $2.1 million for the remainder of 2020, $10.8 million in 2021, $7.0 million in 2022, $1.1 million in 2023, and $0.0 million thereafter. Whole Loan Sale Program ‑ The Company has a commitment to sell to a third-party institutional investor 10% of its unsecured loan originations that satisfy certain eligibility criteria, and an additional 5% at the Company’s sole option. For details regarding the whole loan sale program, refer to Note 6, Loans Held for Sale . Access Loan Sale Program ‑ From July 2017 to August 2020, the Company was party to a separate whole loan sale arrangement with an institutional investor with a commitment to sell 100% of the originations pursuant to the Company’s Access Loan Program and service the sold loans. For details regarding the Access Loan Sale Program, refer to Note 6, Loans Held for Sale . Unfunded Loan and Credit Card Commitments - Unfunded loan and credit card commitments at September 30, 2020 and December 31, 2019 were $8.0 million and $2.3 million, respectively. Litigation - On June 13, 2017, a complaint, captioned Atinar Capital II, LLC and James Gutierrez v. David Strohm, et. al., CGC 17-559515, (the "Atinar Lawsuit"), was filed by plaintiffs James Gutierrez and Atinar Capital II, LLC (an LLC controlled by Gutierrez) (the "Gutierrez Plaintiffs"), in the Superior Court of the State of California, County of San Francisco, against certain of the Company's current and former directors and officers, and certain of the Company's stockholders alleging that the defendants breached their fiduciary duties to the Company's common stockholders in their capacities as officers, directors and/or controlling stockholders by approving certain of the Company's convertible preferred stock financing rounds that diluted the ownership of the Company's common stockholders, and that certain defendants allegedly aided and abetted such breaches. On October 17, 2019, after being given leave by the court to amend its complaint, the plaintiffs filed a second amended complaint that added Gutierrez Family Holdings, LLC (another entity controlled by Gutierrez) as an additional plaintiff, and pleading the case in the alternative as a derivative shareholder suit. As part of the derivative shareholder suit, Oportun Financial Corporation was added as a nominal defendant only. The second amended complaint sought unspecified monetary damages and other relief. On November 18, 2019, the Company filed a demurrer of the second amended complaint. On April 1, 2020, the Court issued an order sustaining the Company's demurrer in part, by dismissing Gutierrez Family Holdings, LLC from the case, and denying it in part. The Court subsequently ordered the parties to mediation. While the Company believes the claims in the Atinar lawsuit were without merit, the Company wanted to avoid the costs and management distraction of litigation and at mediation the parties have agreed to settle this matter. The Company has indemnified the current and former directors, officers and shareholders to whom it has indemnification obligations. On January 2, 2018, a complaint, captioned Opportune LLP v. Oportun, Inc. and Oportun, LLC, Civil Action No. 4:18-cv-00007 (the "Opportune Lawsuit"), was filed by plaintiff Opportune LLP in the United States District Court for the Southern District of Texas, against the Company and its wholly-owned subsidiary, Oportun, LLC. The complaint alleged various claims for trademark infringement, unfair competition, trademark dilution and misappropriation against the Company and Oportun, LLC and called for injunctive relief requiring the Company and Oportun, LLC to cease using its marks, as well as monetary damages related to the claims. In addition, on January 2, 2018, the plaintiff initiated a cancellation proceeding, Proceeding No. 92067634, before the Trademark Trial and Appeal Board seeking to cancel certain of the Company's trademarks, (the "Cancellation Proceeding" and, together with the Opportune Lawsuit, the "Opportune Matter"). On March 5, 2018, the Trademark Trial and Appeal Board granted the Company's motion to suspend the Cancellation Proceeding pending final disposition of the Opportune Lawsuit. On April 24, 2018, the District Court granted the Company's motion to partially dismiss the complaint, dismissing the plaintiff's misappropriation claim. On February 22, 2019, the plaintiff filed an amended complaint adding an additional claim under the Anti-Cybersquatting Protection Act to the remaining claims in the original complaint. On August 30, 2019, the Company filed a motion for summary judgment on all of the plaintiff's claims. On January 22, 2020, the District Court issued its decision denying the Company's motion for summary judgment. No trial date has been set. In connection with discussions regarding settlement of the Opportune Matter, the Company has recorded a liability of $1.9 million within Other liabilities and a corresponding insurance recovery receivable of $1.0 million within Other assets on the Condensed Consolidated Balance Sheets as of December 31, 2019. The income statement impact of $0.9 million was recorded through General, administrative and other on the Condensed Consolidated Statements of Operations and Comprehensive Income for the year ended December 31, 2019. Actual results could differ from these estimates. See Part II. Item 1. Legal Proceedings for additional information regarding legal proceedings in which the Company is involved.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	16. Subsequent Events In late October 2020, the Company executed a settlement agreement regarding the Atinar Lawsuit. As a result, the Company established an $8.8 million litigation reserve as of September 30, 2020 and reported a liability of $8.8 million within Other liabilities on the Condensed Consolidated Balance Sheets as of September 30, 2020. The income statement impact of $8.8 million was reported as part of General, administrative and other on the Condensed Consolidated Statements of Operations and Comprehensive Income for the three and nine months ended September 30, 2020. In October 2020, the Company raised $39.8 million, net of fees and expenses, by selling $41.3 million of retained bonds related to its 2019-A and 2018-B asset-backed notes.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation ‑ The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). These statements are unaudited and reflect all normal, recurring adjustments that are, in management's opinion, necessary for the fair presentation of results. The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Certain prior-period financial information has been reclassified to conform to current period presentation. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited consolidated financial statements and the related notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2019 ("the Annual Report"), filed with the Securities and Exchange Commission ("SEC") on February 28, 2020. All share and per share amounts for all periods presented in the accompanying condensed consolidated financial statements and notes thereto have been adjusted retroactively, where applicable, to reflect the Company's one-for-eleven reverse stock split. See "Initial Public Offering" above for additional information.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates ‑ The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of income and expenses during the reporting period. These estimates are based on information available as of the date of the condensed consolidated financial statements; therefore, actual results could differ from those estimates and assumptions.
New Accounting Pronouncements, Policy [Policy Text Block]	Allowance for Loan Losses and Fair Value Option ‑ In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments. This guidance significantly changes the way entities are required to measure credit losses. Under the new standard, estimated credit losses are based upon an expected credit loss approach rather than an incurred loss approach that was previously required. In May 2019, the FASB issued ASU 2019-05, Financial Instruments-Credit Losses (Topic 326): Targeted Transition . This ASU provides an option to irrevocably elect the fair value option applied on an instrument-by-instrument basis for certain financial assets upon the adoption of Topic 326. In November 2019, the FASB issued ASU 2019-10, Financial Instruments - Credit Loss (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) , which deferred the effective date for public filers that are considered smaller reporting companies as defined by the SEC to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted in fiscal years beginning after December 15, 2018, including interim periods in those fiscal years. The Company elected to early adopt ASU 2016-13 and ASU 2019-05 effective January 1, 2020. The Company previously elected the fair value option for all loans originated after January 1, 2018. Upon adoption of ASU 2019-05, the Company elected the fair value option on all loans receivable originated prior to January 1, 2018 that were previously measured at amortized cost. As a result, adoption of ASU 2016-13 did not have impact on the Company's condensed consolidated financial statements and disclosures. The Company made an accounting policy election not to measure an allowance for credit losses on accrued interest receivable amounts as the Company writes off the uncollectible accrued interest receivable balance in a timely manner and makes relevant disclosures. The adoption of ASU 2019-05 and fair value election resulted in (i) the release of the remaining allowance for loan losses on Loans Receivable at Amortized Cost as of December 31, 2019; (ii) recognition of the unamortized net originations fee income as of December 31, 2019; and (iii) measurement of the remaining loans originated prior to January 1, 2018 at fair value. These adjustments resulted in an increase to opening retained earnings as of January 1, 2020 of approximately $4.8 million . ASU 2019-05 does not allow for the fair value option to be elected on the Company's asset-backed notes carried at amortized cost. Fair Value Disclosures ‑ In August 2018, the FASB issued ASU 2018-13, Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement , which amends ASC 820, Fair Value Measurement . This ASU simplifies the disclosure requirements for fair value measurements. The Company adopted this ASU effective January 1, 2020. The simplified disclosure requirements included a new disclosure for the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements and the narrative description of measurement uncertainty. These new disclosure requirements were applied prospectively. Cloud Computing Arrangements - In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use-Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. This ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The Company adopted the amendments of this ASU effective January 1, 2020 on a prospective basis with no impact upon adoption. All eligible implementation costs related to cloud computing arrangements are now recorded as part of "prepaid expenses" within "Other assets" on the Condensed Consolidated Balance Sheets (Unaudited). The amortization expense is presented in the same line on the income statement as the fees for the associated hosted service within "Operating expenses" on the Company's Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited), and the cash payments related to implementation of cloud computing arrangements are classified as "cash flows from operating activities" within the Condensed Consolidated Statements of Cash Flow (Unaudited). Income Taxes - In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes . This ASU is intended to simplify the accounting for income taxes by removing certain exceptions to the general principles of accounting for income taxes and to improve the consistent application of GAAP for other areas of accounting for income taxes by clarifying and amending existing guidance. The ASU is effective for fiscal years beginning after December 15, 2020. Early adoption is permitted. The Company is currently evaluating the effect that the new guidance will have on its consolidated financial statements and disclosures. Reference Rate Reform - In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments in this ASU provide optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform if certain criteria are met. An entity may elect to apply the amendments for contract modifications as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020. The amendments in this ASU must be applied prospectively for all eligible contract modifications. The Company has evaluated the effect of the new guidance and determined it will not have a material impact on its consolidated financial statements and disclosures.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Policies)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair value adjustments related to financial instruments where the fair value option has been elected are recorded through earnings for the nine months ended September 30, 2020 and 2019. Certain unobservable inputs may (in isolation) have either a directionally consistent or opposite impact on the fair value of the financial instrument for a given change in that input. When multiple inputs are used within the valuation techniques for loans, a change in one input in a certain direction may be offset by an opposite change from another input. The Company developed an internal model to estimate the Fair Value Loans. To generate future expected cash flows, the model combines receivable characteristics with assumptions about borrower behavior based on the Company’s historical loan performance. These cash flows are then discounted using a required rate of return that management estimates would be used by a market participant. The Company tested the fair value model by comparing modeled cash flows to historical loan performance to ensure that the model was complete, accurate and reasonable for the Company’s use. The Company also engaged a third party to create an independent fair value estimate for the Fair Value Loans, which provides a set of fair value marks using the Company’s historical loan performance data and whole loan sale prices to develop independent forecasts of borrower behavior. Their model generates expected cash flows which were then aggregated and compared to the Company’s actual cash flows within an acceptable range. The Company's internal valuation committee provides governance and oversight over the fair value pricing calculations and related financial statement disclosures. Additionally, this committee provides a challenge of the assumptions used and outputs of the model, including the appropriateness of such measures and periodically reviews the methodology and process to determine the fair value pricing. Any significant changes to the process must be approved by the committee.

Leases, Commitments and Conti_2

Leases, Commitments and Contingencies (Policies)	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Short-term Leases	The Company has elected the practical expedient to keep leases with terms of 12 months or less off the balance sheet as no recognition of a lease liability and a right-of-use asset is required. Operating lease expense is recognized on a straight-line basis over the lease term in "Technology and facilities" in the Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited).

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Basic and diluted earnings (loss) per share are calculated as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except share and per share data) 2020 2019 2020 2019 Net income (loss) $ (6,046) $ 10,029 $ (53,595) $ 38,435 Less: Additional common stock issued to Series G shareholders — (37,456) — (37,456) Less: Net income allocated to participating securities (1) — — — (979) Net (loss) income attributable to common stockholders $ (6,046) $ (27,427) $ (53,595) $ — Basic weighted-average common shares outstanding 27,459,192 4,294,107 27,237,246 3,397,503 Weighted average effect of dilutive securities: Stock options — — — — Restricted stock units — — — — Warrants — — — — Diluted weighted-average common shares outstanding 27,459,192 4,294,107 27,237,246 3,397,503 Earnings (loss) per share: Basic $ (0.22) $ (6.39) $ (1.97) $ — Diluted $ (0.22) $ (6.39) $ (1.97) $ — (1) In a period of net income, both earnings and dividends (if any) are allocated to participating securities. In a period of net loss, only dividends (if any) are allocated to participating securities.
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	The following common share equivalent securities have been excluded from the calculation of diluted weighted-average common shares outstanding because the effect is anti-dilutive for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Stock options 4,462,158 4,571,154 4,352,649 4,705,200 Restricted stock units 2,331,678 1,325,166 2,120,068 779,776 Warrants — 24,880 13,866 24,933 Convertible preferred stock — 16,266,773 — 16,886,597 Total anti-dilutive common share equivalents 6,793,836 22,187,973 6,486,583 22,396,506

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The following table represents the assets and liabilities of consolidated VIEs recorded on the Company’s Condensed Consolidated Balance Sheets (Unaudited): September 30, December 31, (in thousands) 2020 2019 Consolidated VIE assets Restricted cash $ 25,004 $ 28,821 Loans receivable at fair value 1,488,861 1,745,465 Loans receivable at amortized cost — 41,747 Interest and fee receivable 15,352 15,874 Total VIE assets 1,529,217 1,831,907 Consolidated VIE liabilities Secured financing (1) 191,994 62,000 Asset-backed notes at fair value 1,125,444 1,129,202 Asset-backed notes at amortized cost (1) — 360,001 Total VIE liabilities $ 1,317,438 $ 1,551,203 (1) Amounts exclude deferred financing costs. See Note 8, Borrowings for additional information.

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets [Table Text Block]	Other assets consist of the following: September 30, December 31, (in thousands) 2020 2019 Fixed assets Computer and office equipment $ 10,993 $ 10,432 Furniture and fixtures 11,030 10,768 Purchased software 4,945 4,527 Vehicles 79 171 Leasehold improvements 28,987 27,701 Total cost 56,034 53,599 Less: Accumulated depreciation (37,298) (30,765) Total fixed assets, net $ 18,736 $ 22,834 System development costs: System development costs $ 53,186 $ 36,795 Less: Accumulated amortization (26,071) (18,456) Total system development costs, net $ 27,115 $ 18,339 Servicer fee and whole loan receivables 1,102 6,621 Prepaid expenses 13,318 12,217 Deferred tax assets 1,346 1,563 Tax assets and other 20,695 15,197 Total other assets $ 82,312 $ 76,771

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2020
Line of Credit [Member]
Debt Instrument [Line Items]
Schedule of Debt [Table Text Block]	The following table presents information regarding the Company's Secured Financing facility: September 30, 2020 Variable Interest Entity Current Balance Commitment Amount Maturity Date Interest Rate (in thousands) Oportun Funding V, LLC $ 191,180 $ 400,000 October 1, 2021 LIBOR (minimum of 0.00%) + 2.45% December 31, 2019 Variable Interest Entity Current Balance Commitment Amount Maturity Date Interest Rate (in thousands) Oportun Funding V, LLC $ 60,910 $ 400,000 October 1, 2021 LIBOR (minimum of 0.00%) + 2.45%
Secured Debt [Member]
Debt Instrument [Line Items]
Schedule of Debt [Table Text Block]	The Company elected the fair value option for all asset-backed notes issued on or after January 1, 2018. The following table presents information regarding asset-backed notes: September 30, 2020 Variable Interest Entity Initial note amount issued (1) Initial collateral balance (2) Current balance (1) Current collateral balance (2) Weighted average interest rate (3) Original revolving period (in thousands) Asset-backed notes recorded at fair value: Oportun Funding XIII, LLC (Series 2019-A) $ 279,412 $ 294,118 $ 252,049 $ 299,659 3.22 % 3 years Oportun Funding XII, LLC (Series 2018-D) 175,002 184,213 177,768 187,641 4.50 % 3 years Oportun Funding X, LLC (Series 2018-C) 275,000 289,474 278,618 294,913 4.39 % 3 years Oportun Funding IX, LLC (Series 2018-B) 225,001 236,854 216,490 241,294 4.09 % 3 years Oportun Funding VIII, LLC (Series 2018-A) 200,004 222,229 200,519 226,632 3.83 % 3 years Total asset-backed notes recorded at fair value $ 1,154,419 $ 1,226,888 $ 1,125,444 $ 1,250,139 December 31, 2019 Variable Interest Entity Initial note amount issued (1) Initial collateral balance (2) Current balance (1) Current collateral balance (2) Weighted average interest rate (3) Original revolving period (in thousands) Asset-backed notes recorded at fair value: Oportun Funding XIII, LLC (Series 2019-A) $ 279,412 $ 294,118 $ 251,090 $ 299,813 3.22 % 3 years Oportun Funding XII, LLC (Series 2018-D) 175,002 184,213 178,980 187,447 4.50 % 3 years Oportun Funding X, LLC (Series 2018-C) 275,000 289,474 280,852 294,380 4.39 % 3 years Oportun Funding IX, LLC (Series 2018-B) 225,001 236,854 216,306 241,000 4.09 % 3 years Oportun Funding VIII, LLC (Series 2018-A) 200,004 222,229 201,974 225,945 3.83 % 3 years Total asset-backed notes recorded at fair value $ 1,154,419 $ 1,226,888 $ 1,129,202 $ 1,248,585 Asset-backed notes recorded at amortized cost: Oportun Funding VII, LLC (Series 2017-B) $ 200,000 $ 222,231 $ 199,413 $ 225,925 3.51 % 3 years Oportun Funding VI, LLC (Series 2017-A) 160,001 188,241 159,698 191,223 3.36 % 3 years Total asset-backed notes recorded at amortized cost $ 360,001 $ 410,472 $ 359,111 $ 417,148 (1) Initial note amount issued includes notes retained by the Company as applicable. The current balances are measured at fair value for asset-backed notes recorded at fair value and measured at carrying amount for asset-back notes recorded at amortized cost. (2) Includes the unpaid principal balance of loans receivable, cash, cash equivalents and restricted cash pledged by the Company. (3) Weighted average interest rate excludes notes retained by the Company.

Other Liabilities (Tables)

Other Liabilities (Tables)	9 Months Ended
	Sep. 30, 2020
Other Liabilities Disclosure [Abstract]
Other Liabilities [Table Text Block]	Other liabilities consist of the following: September 30, December 31, (in thousands) 2020 2019 Accounts payable $ 2,579 $ 5,919 Accrued compensation 25,983 22,226 Accrued expenses 23,139 12,965 Accrued interest 3,067 3,842 Deferred tax liabilities 9,738 24,868 Current tax liabilities and other 4,870 7,354 Total other liabilities $ 69,376 $ 77,174

Equity Compensation and Other_2

Equity Compensation and Other Benefits (Tables)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Stock-based Compensation - Total stock-based compensation expense included in the Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Technology and facilities $ 1,010 $ 1,310 $ 2,693 $ 2,068 Sales and marketing 32 43 92 95 Personnel 4,152 9,810 11,532 13,015 Total stock-based compensation $ 5,194 $ 11,163 $ 14,317 $ 15,178

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Interest Income and Interest Expense Disclosure [Table Text Block]	Interest Income - Total interest income included in the Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Interest income Interest on loans $ 127,267 $ 136,803 $ 410,124 $ 389,104 Fees on loans 1,472 2,469 5,401 6,674 Total interest income 128,739 139,272 415,525 395,778
Interest and Other Income [Table Text Block]	Non-interest Income - Total non-interest income included in the Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Non-interest income Gain on loan sales $ 3,882 $ 9,495 $ 13,406 $ 25,291 Servicing fees 3,515 3,932 12,003 11,149 Other income 631 1,181 1,968 2,586 Total non-interest income $ 8,028 $ 14,608 $ 27,377 $ 39,026

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Option, Disclosures [Table Text Block]	The table below compares the fair value of loans receivable and asset-backed notes to their contractual balances for the periods shown: September 30, 2020 December 31, 2019 (in thousands) Unpaid Principal Balance Fair Value Unpaid Principal Balance Fair Value Assets Loans receivable $ 1,575,183 $ 1,605,388 $ 1,800,418 $ 1,882,088 Liabilities Asset-backed notes 1,113,165 1,125,444 1,113,165 1,129,202
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]	The following tables present quantitative information about the significant unobservable inputs used for the Company’s Level 3 fair value measurements: September 30, 2020 December 31, 2019 Minimum Maximum Weighted Average (2) Minimum (3) Maximum (3) Weighted Average Remaining cumulative charge-offs (1) 6.52% 64.07% 10.61% — — 9.61% Remaining cumulative prepayments (1) —% 34.71% 28.34% — — 34.95% Average life (years) 0.21 1.30 0.78 — — 0.81 Discount rate — — 7.84% — — 7.77% (1) Figure disclosed as a percentage of outstanding principal balance. (2) Unobservable inputs were weighted by outstanding principal balance, which are grouped by risk (type of customer, original loan maturity terms). (3) The Company adopted ASU 2018-13 on a prospective basis, effective January 1, 2020, therefore, these disclosures are not required as of December 31, 2019.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	The table below presents a reconciliation of loans receivable at fair value on a recurring basis using significant unobservable inputs: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Balance – beginning of period $ 1,635,684 $ 1,513,413 $ 1,882,088 $ 1,227,469 Adjustment upon adoption of ASU 2019-05 — — 43,323 — Principal disbursements 283,894 459,227 804,767 1,216,582 Principal payments from customers (305,883) (266,663) (927,175) (696,173) Gross charge-offs (48,135) (31,229) (145,373) (82,275) Net increase (decrease) in fair value 39,828 7,141 (52,242) 16,286 Balance – end of period $ 1,605,388 $ 1,681,889 $ 1,605,388 $ 1,681,889
Fair Value, by Balance Sheet Grouping [Table Text Block]	The following table presents the carrying value and estimated fair values of financial assets and liabilities disclosed but not carried at fair value and the level within the fair value hierarchy: September 30, 2020 Carrying value Estimated fair value Estimated fair value (in thousands) Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 109,656 $ 109,656 $ 109,656 $ — $ — Restricted cash 53,824 53,824 53,824 — — Loans receivable at amortized cost, net (Note 5) — — — — — Loans held for sale (Note 6) 1,046 1,046 — — 1,046 Liabilities Accounts payable 2,579 2,579 2,579 — — Secured financing (Note 8) 191,994 189,716 — 189,716 — December 31, 2019 Carrying value Estimated fair value Estimated fair value (in thousands) Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 72,179 $ 72,179 $ 72,179 $ — $ — Restricted cash 63,962 63,962 63,962 — — Loans receivable at amortized cost, net (Note 5) 38,471 43,482 — — 43,482 Loans held for sale (Note 6) 715 772 — — 772 Liabilities Accounts payable 5,919 5,919 5,919 — — Secured financing (Note 8) 62,000 62,000 — 62,000 — Asset-backed notes at amortized cost (Note 8) 359,111 360,668 — 360,668 —

Leases, Commitments and Conti_3

Leases, Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	As of September 30, 2020, maturities of lease liabilities, excluding short-term leases and leases on a month-to-month basis, were as follows: (in thousands) Operating Leases Lease expense 2020 (remaining three months) $ 4,148 2021 14,767 2022 11,971 2023 10,117 2024 8,615 2025 6,562 Thereafter 1,443 Total lease payments 57,623 Imputed interest (5,499) Total leases $ 52,124 Sublease income 2020 (remaining three months) $ (435) 2021 and thereafter — Total lease payments (435) Imputed interest 3 Total sublease income $ (432) Net lease liabilities $ 51,692 Weighted average remaining lease term 4.6 years Weighted average discount rate 4.46 % As of December 31, 2019, maturities of lease liabilities, excluding short-term leases and leases on a month-to-month basis, were as follows: (in thousands) Operating Leases Lease expense 2020 15,227 2021 12,439 2022 9,663 2023 8,340 2024 7,488 Thereafter 7,293 Total lease payments 60,450 Imputed interest (6,240) Total leases $ 54,210 Sublease income 2020 (861) 2021 and thereafter — Total lease payments (861) Imputed interest 8 Total sublease income $ (853) Net lease liabilities $ 53,357 Weighted average remaining lease term 5.0 years Weighted average discount rate 4.49 %

Organization and Description _2

Organization and Description of the Business Initial Public Offering (Details) $ / shares in Units, $ in Thousands	Jun. 09, 2020shares	Sep. 30, 2019USD ($)$ / sharesshares	Sep. 26, 2019shares	Sep. 09, 2019	Sep. 30, 2019$ / sharesshares	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)$ / shares
Subsidiary, Sale of Stock [Line Items]
Shares Sold by Others Outside the Company		2,314,144
Proceeds from Issuance Initial Public Offering | $						$ 0	$ 60,479
Stockholders' Equity Note, Stock Split, Conversion Ratio				11
Preferred Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Conversion of Stock, Shares Converted		14,043,977
Conversion of Stock, Shares Issued			3,969
Common Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Stock Issued During Period, Shares, New Issues					4,873,356
Conversion of Stock, Shares Issued	10,972	19,075,167	3,969
Warrant [Member] | Series F-1 Preferred [Member]
Subsidiary, Sale of Stock [Line Items]
Conversion of Stock, Shares Converted			9,090
IPO [Member]
Subsidiary, Sale of Stock [Line Items]
Stock Issued During Period, Shares, New Issues		4,873,356
Shares Issued, Price Per Share | $ / shares		$ 15			$ 15		$ 15
Proceeds from Issuance Initial Public Offering | $		$ 60,500
Payments for Underwriting Expense | $		5,100
Payments of Stock Issuance Costs | $		$ 7,500

Summary of Significant Accoun_3

Summary of Significant Accounting Policies Details (Details) $ in Millions	Jan. 01, 2020USD ($)
Accounting Policies [Abstract]
Cumulative Effect of New Accounting Principle in Period of Adoption	$ 4.8

Earnings per Share Earnings Per

Earnings per Share Earnings Per Share Calculation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss)	$ (6,046)	$ (34,248)	$ (13,301)	$ 10,029	$ 13,792	$ 14,614	$ (53,595)	$ 38,435
Dividends, Preferred Stock, Paid-in-kind	0			(37,456)			0	(37,456)
Net income allocated to participating securities	0			0			0	(979)
Net (loss) income attributable to common stockholders	$ (6,046)			$ (27,427)			$ (53,595)	$ 0
Weighted Average Number of Shares Outstanding, Basic	27,459,192			4,294,107			27,237,246	3,397,503
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants	0			0			0	0
Weighted Average Number of Shares Outstanding, Diluted	27,459,192			4,294,107			27,237,246	3,397,503
Earnings Per Share, Basic, Undistributed	$ (0.22)			$ (6.39)			$ (1.97)	$ 0
Earnings Per Share, Diluted, Undistributed	$ (0.22)			$ (6.39)			$ (1.97)	$ 0
Equity Option [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	0			0			0	0
Restricted Stock Units (RSUs) [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	0			0			0	0

Earnings per Share Anti-dilutiv

Earnings per Share Anti-dilutive Securities (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	6,793,836	22,187,973	6,486,583	22,396,506
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,462,158	4,571,154	4,352,649	4,705,200
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,331,678	1,325,166	2,120,068	779,776
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	24,880	13,866	24,933
Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	16,266,773	0	16,886,597

Variable Interest Entities (Det

Variable Interest Entities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Variable Interest Entity, Consolidated, Assets, Pledged	$ 1,529,217	$ 1,831,907
Variable Interest Entity, Consolidated, Liabilities, No Recourse	1,317,438	1,551,203
Restricted Cash [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Consolidated, Assets, Pledged	25,004	28,821
Loans Receivable [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Consolidated, Assets, Pledged	1,488,861	1,745,465
Loans Receivable at Amortized Cost [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Consolidated, Assets, Pledged	0	41,747
Financing Receivable [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Consolidated, Assets, Pledged	15,352	15,874
Secured Financing [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Consolidated, Liabilities, No Recourse	191,994	62,000
Liabilities at Fair Value [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Consolidated, Liabilities, No Recourse	1,125,444	1,129,202
Asset-backed Notes at Amortized Cost [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Consolidated, Liabilities, No Recourse	$ 0	$ 360,001

Loans Receivable at Amortized_2

Loans Receivable at Amortized Cost, Net Loans Receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Receivables [Abstract]
Loans receivable at amortized cost, net	$ 0	$ 38,471
Loans receivable at amortized cost	0	42,546
Unamortized deferred origination costs and fees, net	0	(103)
Allowance for loan losses	$ 0	$ (3,972)

Loans Held for Sale (Details)

Loans Held for Sale (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Transfers and Servicing [Abstract]
Originations of loans sold and held for sale	$ 39,800	$ 95,200	$ 134,552	$ 248,441
Gain (Loss) on Sales of Consumer Loans	3,900	9,500	13,406	25,291
Servicing fees	$ 3,515	$ 3,932	$ 12,003	$ 11,149
Minimum Loan Sale Rate, Whole Loan Sale Program	10.00%		10.00%
Incremental Optional Loan Sale Rate, Whole Loan Sale Program	5.00%		5.00%
Minimum Loan Sale Rate, Access Loan Program	100.00%		100.00%

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Computer and office equipment	$ 10,993		$ 10,993		$ 10,432
Furniture and fixtures	11,030		11,030		10,768
Purchased software	4,945		4,945		4,527
Vehicles	79		79		171
Leasehold improvements	28,987		28,987		27,701
Total cost	56,034		56,034		53,599
Property, plant, and equipment, accumulated depreciation	(37,298)		(37,298)		(30,765)
Total fixed assets, net	18,736		18,736		22,834
System Development Costs	53,186		53,186		36,795
System development costs, accumulated amortization	(26,071)		(26,071)		(18,456)
Total system development costs, net	27,115		27,115		18,339
Servicer fee and whole loan receivables	1,102		1,102		6,621
Prepaid expenses	13,318		13,318		12,217
Deferred Income Tax Assets, Net	1,346		1,346		1,563
Other	20,695		20,695		15,197
Other Assets	82,312		82,312		$ 76,771
Depreciation	2,200	$ 2,300	7,300	$ 6,200
Capitalized Computer Software, Amortization	2,900	1,300	7,600	3,200
Capitalized Computer Software, Additions	$ 5,300	$ 5,100	$ 16,400	$ 12,200

Borrowings (Details)

Borrowings (Details) - USD ($) $ in Thousands

Jul. 08, 2020

Aug. 01, 2019

Dec. 10, 2018

Dec. 07, 2018

Oct. 22, 2018

Jul. 09, 2018

Mar. 08, 2018

Oct. 11, 2017

Jun. 08, 2017

Oct. 31, 2020

Mar. 31, 2020

Sep. 30, 2020

Sep. 30, 2019

Dec. 31, 2019

Debt Instrument [Line Items]

Warehouse Agreement Borrowings

$ 191,180

$ 60,910

Asset-backed notes at fair value

1,125,444

1,129,202

Asset-backed notes at amortized cost

0

359,111

Repayments of Secured Debt

360,001

$ 0

Proceeds from sale of loans

147,627

$ 269,546

Subsequent Event [Member]

Debt Instrument [Line Items]

Proceeds from sale of loans

$ 39,800

Loan Principal Sold

$ 41,300

Warehouse Agreement Borrowings [Member]

Debt Instrument [Line Items]

Repayments of Secured Debt

$ 149,000

Cash [Member]

Debt Instrument [Line Items]

Repayments of Secured Debt

$ 51,000

Line of Credit [Member] | Secured Warehouse Facility [Member]

Debt Instrument [Line Items]

Warehouse Agreement Borrowings

191,180

60,910

Line of Credit Facility, Maximum Borrowing Capacity

$ 400,000

400,000

Line of Credit Facility, Expiration Date

Oct. 1, 2021

Debt Instrument, Description of Variable Rate Basis

LIBOR (minimum of 0.00%) + 2.45%

LIBOR (minimum of 0.00%) + 2.45%

Fair Value [Member] | Secured Debt [Member]

Debt Instrument [Line Items]

Debt Instrument, Face Amount

$ 1,154,419

1,154,419

Asset-backed notes at fair value

1,125,444

1,129,202

Fair Value [Member] | Secured Debt [Member] | Initial Collateral [Member]

Debt Instrument [Line Items]

Debt Instrument, Collateral Amount

1,226,888

1,226,888

Fair Value [Member] | Secured Debt [Member] | Current Collateral [Member]

Debt Instrument [Line Items]

Debt Instrument, Collateral Amount

1,250,139

1,248,585

Fair Value [Member] | Secured Debt [Member] | Asset-backed Notes Series 2019-A [Member]

Debt Instrument [Line Items]

Debt Instrument, Face Amount

$ 279,412

Asset-backed notes at fair value

252,049

251,090

Debt, Weighted Average Interest Rate

3.22%

Debt Instrument, Term

3 years

Fair Value [Member] | Secured Debt [Member] | Asset-backed Notes Series 2019-A [Member] | Initial Collateral [Member]

Debt Instrument [Line Items]

Debt Instrument, Collateral Amount

$ 294,118

Fair Value [Member] | Secured Debt [Member] | Asset-backed Notes Series 2019-A [Member] | Current Collateral [Member]

Debt Instrument [Line Items]

Debt Instrument, Collateral Amount

299,659

299,813

Fair Value [Member] | Secured Debt [Member] | Asset-Backed Notes Series 2018-D [Member]

Debt Instrument [Line Items]

Debt Instrument, Face Amount

$ 175,002

Asset-backed notes at fair value

177,768

178,980

Debt, Weighted Average Interest Rate

4.50%

Debt Instrument, Term

3 years

Fair Value [Member] | Secured Debt [Member] | Asset-Backed Notes Series 2018-D [Member] | Initial Collateral [Member]

Debt Instrument [Line Items]

Debt Instrument, Collateral Amount

$ 184,213

Fair Value [Member] | Secured Debt [Member] | Asset-Backed Notes Series 2018-D [Member] | Current Collateral [Member]

Debt Instrument [Line Items]

Debt Instrument, Collateral Amount

187,641

187,447

Fair Value [Member] | Secured Debt [Member] | Asset-Backed Notes Series 2018-C [Member]

Debt Instrument [Line Items]

Debt Instrument, Face Amount

$ 275,000

Asset-backed notes at fair value

278,618

280,852

Debt, Weighted Average Interest Rate

4.39%

Debt Instrument, Term

3 years

Fair Value [Member] | Secured Debt [Member] | Asset-Backed Notes Series 2018-C [Member] | Initial Collateral [Member]

Debt Instrument [Line Items]

Debt Instrument, Collateral Amount

$ 289,474

Fair Value [Member] | Secured Debt [Member] | Asset-Backed Notes Series 2018-C [Member] | Current Collateral [Member]

Debt Instrument [Line Items]

Debt Instrument, Collateral Amount

294,913

294,380

Fair Value [Member] | Secured Debt [Member] | Asset-Backed Notes Series 2018-B [Member]

Debt Instrument [Line Items]

Debt Instrument, Face Amount

$ 225,001

Asset-backed notes at fair value

216,490

216,306

Debt, Weighted Average Interest Rate

4.09%

Debt Instrument, Term

3 years

Fair Value [Member] | Secured Debt [Member] | Asset-Backed Notes Series 2018-B [Member] | Initial Collateral [Member]

Debt Instrument [Line Items]

Debt Instrument, Collateral Amount

$ 236,854

Fair Value [Member] | Secured Debt [Member] | Asset-Backed Notes Series 2018-B [Member] | Current Collateral [Member]

Debt Instrument [Line Items]

Debt Instrument, Collateral Amount

241,294

241,000

Fair Value [Member] | Secured Debt [Member] | Asset-Backed Notes Series 2018-A [Member]

Debt Instrument [Line Items]

Debt Instrument, Face Amount

$ 200,004

Asset-backed notes at fair value

200,519

201,974

Debt, Weighted Average Interest Rate

3.83%

Debt Instrument, Term

3 years

Fair Value [Member] | Secured Debt [Member] | Asset-Backed Notes Series 2018-A [Member] | Initial Collateral [Member]

Debt Instrument [Line Items]

Debt Instrument, Collateral Amount

$ 222,229

Fair Value [Member] | Secured Debt [Member] | Asset-Backed Notes Series 2018-A [Member] | Current Collateral [Member]

Debt Instrument [Line Items]

Debt Instrument, Collateral Amount

$ 226,632

225,945

Amortized Cost [Member] | Secured Debt [Member]

Debt Instrument [Line Items]

Debt Instrument, Face Amount

360,001

Asset-backed notes at amortized cost

359,111

Amortized Cost [Member] | Secured Debt [Member] | Initial Collateral [Member]

Debt Instrument [Line Items]

Debt Instrument, Collateral Amount

410,472

Amortized Cost [Member] | Secured Debt [Member] | Current Collateral [Member]

Debt Instrument [Line Items]

Debt Instrument, Collateral Amount

417,148

Amortized Cost [Member] | Secured Debt [Member] | Asset-Backed Notes Series 2017-B [Member]

Debt Instrument [Line Items]

Debt Instrument, Face Amount

$ 200,000

Asset-backed notes at amortized cost

199,413

Debt, Weighted Average Interest Rate

3.51%

Debt Instrument, Term

3 years

Amortized Cost [Member] | Secured Debt [Member] | Asset-Backed Notes Series 2017-B [Member] | Initial Collateral [Member]

Debt Instrument [Line Items]

Debt Instrument, Collateral Amount

$ 222,231

Amortized Cost [Member] | Secured Debt [Member] | Asset-Backed Notes Series 2017-B [Member] | Current Collateral [Member]

Debt Instrument [Line Items]

Debt Instrument, Collateral Amount

225,925

Amortized Cost [Member] | Secured Debt [Member] | Asset-Backed Notes Series 2017-A [Member]

Debt Instrument [Line Items]

Debt Instrument, Face Amount

$ 160,001

Asset-backed notes at amortized cost

159,698

Debt, Weighted Average Interest Rate

3.36%

Debt Instrument, Term

3 years

Amortized Cost [Member] | Secured Debt [Member] | Asset-Backed Notes Series 2017-A [Member] | Initial Collateral [Member]

Debt Instrument [Line Items]

Debt Instrument, Collateral Amount

$ 188,241

Amortized Cost [Member] | Secured Debt [Member] | Asset-Backed Notes Series 2017-A [Member] | Current Collateral [Member]

Debt Instrument [Line Items]

Debt Instrument, Collateral Amount

$ 191,223

Other Liabilities (Details)

Other Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Other Liabilities Disclosure [Abstract]
Accounts payable	$ 2,579	$ 5,919
Accrued compensation	25,983	22,226
Accrued expenses	23,139	12,965
Accrued interest	3,067	3,842
Deferred Income Tax Liabilities, Net	9,738	24,868
Other	4,870	7,354
Other Liabilities	$ 69,376	$ 77,174

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 09, 2020	Sep. 30, 2019	Sep. 26, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Class of Stock [Line Items]
Dividends, Preferred Stock, Paid-in-kind				$ 0	$ 37,456	$ 0	$ 37,456
Preferred Stock, Shares Authorized				100,000,000		100,000,000		100,000,000
Common Stock, Shares Authorized				1,000,000,000		1,000,000,000		1,000,000,000
Common Stock, Par or Stated Value Per Share				$ 0.0001		$ 0.0001		$ 0.0001
Common Stock, Shares, Issued				27,855,051		27,855,051		27,262,639
Common Stock, Shares, Outstanding				27,583,028		27,583,028		27,003,157
Treasury Stock, Common, Shares				272,023		272,023		259,482
Preferred Stock [Member]
Class of Stock [Line Items]
Conversion of Stock, Shares Converted		14,043,977
Conversion of Stock, Shares Issued			3,969
Common Stock [Member]
Class of Stock [Line Items]
Conversion of Stock, Shares Issued	10,972	19,075,167	3,969
Common Stock [Member] | Series G Preferred [Member]
Class of Stock [Line Items]
Conversion of Stock, Shares Issued		1,873,355
Dividends, Preferred Stock, Paid-in-kind		$ 37,500
Warrant [Member] | Series F-1 Preferred [Member]
Class of Stock [Line Items]
Conversion of Stock, Shares Converted			9,090

Equity Compensation and Other_3

Equity Compensation and Other Benefits Share-based Payments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based Payment Arrangement, Expense	$ 5,194	$ 11,163	$ 14,317	$ 15,178
Share-based Payment Arrangement, Amount Capitalized	300	400	700	600
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation	1,200	0	2,400	$ 0
Option on Securities [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	11,000		$ 11,000		$ 10,100
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition			2 years 9 months 18 days	2 years 4 months 24 days
Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition			3 years 1 month 6 days	3 years
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount	41,600		$ 41,600		$ 21,200
Technology and Facilities [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based Payment Arrangement, Expense	1,010	1,310	2,693	$ 2,068
Sales and Marketing [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based Payment Arrangement, Expense	32	43	92	95
Personnel [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based Payment Arrangement, Expense	$ 4,152	$ 9,810	$ 11,532	$ 13,015

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Interest income	$ 127,267	$ 136,803	$ 410,124	$ 389,104
Fees on loans	1,472	2,469	5,401	6,674
Total interest income	128,739	139,272	415,525	395,778
Gain on loan sales	3,882	9,495	13,406	25,291
Servicing fees	3,515	3,932	12,003	11,149
Other Income	631	1,181	1,968	2,586
Total non-interest income	$ 8,028	$ 14,608	$ 27,377	$ 39,026

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Tax Expense (Benefit)	$ (1,794)	$ 4,386	$ (19,162)	$ 14,846
Effective tax rate	22.90%	30.40%	26.30%	27.90%
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	$ 0	$ 0	$ 0	$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments Financial Instruments at Fair Value (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Loans receivable, unpaid principal balance	$ 1,575,183		$ 1,575,183		$ 1,800,418
Loans receivable, fair value	1,605,388		1,605,388		1,882,088
Asset-backed notes, unpaid principal balance	1,113,165		1,113,165		1,113,165
Asset-backed notes, fair value	1,125,444		1,125,444		1,129,202
Fair Value, Option, Loans Held as Assets, 90 Days or More Past Due	2,000		2,000		3,600
Fair Value, Option, Principal Balance of Loans Held as Assets, 90 Days or More Past Due	$ 11,600		$ 11,600		$ 15,800
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Default Rate [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans Held as Assets, Measurement Input	0.0652		0.0652
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Default Rate [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans Held as Assets, Measurement Input	0.6407		0.6407
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Default Rate [Member] | Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans Held as Assets, Measurement Input	0.1061		0.1061		0.0961
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Prepayment Rate [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans Held as Assets, Measurement Input	0		0
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Prepayment Rate [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans Held as Assets, Measurement Input	0.3471		0.3471
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Prepayment Rate [Member] | Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans Held as Assets, Measurement Input	0.2834		0.2834		0.3495
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Expected Term [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans Held as Assets, Measurement Input	0.21		0.21
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Expected Term [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans Held as Assets, Measurement Input	1.30		1.30
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Expected Term [Member] | Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans Held as Assets, Measurement Input	0.78		0.78		0.81
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Discount Rate [Member] | Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans Held as Assets, Measurement Input	0.0784		0.0784		0.0777
Loans Receivable [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance - beginning of period	$ 1,635,684	$ 1,513,413	$ 1,882,088	$ 1,227,469
Adjustment upon adoption of ASU 2019-05	0	0	43,323	0
Principal disbursements of loans receivable at fair value	283,894	459,227	804,767	1,216,582
Principal payments from customers	(305,883)	(266,663)	(927,175)	(696,173)
Charge-offs	(48,135)	(31,229)	(145,373)	(82,275)
Net increase in fair value	39,828	7,141	(52,242)	16,286
Balance - end of period	$ 1,605,388	$ 1,681,889	$ 1,605,388	$ 1,681,889

Fair Value of Financial Instr_5

Fair Value of Financial Instruments Financial Instruments at Amortized Cost (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 109,656	$ 72,179
Restricted cash	53,824	63,962
Loans receivable at amortized cost	0	38,471
Loans held for sale	1,046	715
Accounts payable	2,579	5,919
Secured financing	191,994	62,000
Asset-backed notes at amortized cost		359,111
Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	109,656	72,179
Restricted cash	53,824	63,962
Loans receivable at amortized cost	0	43,482
Loans held for sale	1,046	772
Accounts payable	2,579	5,919
Secured financing	189,716	62,000
Asset-backed notes at amortized cost		360,668
Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	109,656	72,179
Restricted cash	53,824	63,962
Loans receivable at amortized cost	0	0
Loans held for sale	0	0
Accounts payable	2,579	5,919
Secured financing	0	0
Asset-backed notes at amortized cost		0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Restricted cash	0	0
Loans receivable at amortized cost	0	0
Loans held for sale	0	0
Accounts payable	0	0
Secured financing	189,716	62,000
Asset-backed notes at amortized cost		360,668
Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Restricted cash	0	0
Loans receivable at amortized cost	0	43,482
Loans held for sale	1,046	772
Accounts payable	0	0
Secured financing	$ 0	0
Asset-backed notes at amortized cost		$ 0

Leases, Commitments and Conti_4

Leases, Commitments and Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Maximum Remaining Lease Term, Retail and Office			10 years
2020 (remaining three months)	$ 4,148		$ 4,148
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months	14,767		14,767		$ 15,227
Lessee, Operating Lease, Liability, Payments, Due Year Two	11,971		11,971		12,439
Lessee, Operating Lease, Liability, Payments, Due Year Three	10,117		10,117		9,663
Lessee, Operating Lease, Liability, Payments, Due Year Four	8,615		8,615		8,340
Lessee, Operating Lease, Liability, Payments, Due Year Five	6,562		6,562		7,488
Lessee, Operating Lease, Liability, Payments, Due after Year Five	1,443		1,443		7,293
Total lease payments	57,623		57,623		60,450
Lessee, Operating Lease, Liability, Imputed Interest	(5,499)		(5,499)		(6,240)
Lessee, Operating Lease, Liability, Payments, Due Net of Imputed Interest	52,124		52,124		54,210
2020 (remaining three months)	(435)		(435)
Lessor, Operating Lease, Payments to be Received, Next Twelve Months					(861)
Lessor, Operating Lease, Payments to be Received, Thereafter	0		0		0
Total sublease income	(435)		(435)		(861)
Lessor, Operating Lease, Imputed Interest	3		3		8
Lessor, Operating Lease, Payments to be Received Net of Imputed Interest	(432)		(432)		(853)
Operating Lease, Liability	$ 51,692		$ 51,692		$ 53,357
Operating Lease, Weighted Average Remaining Lease Term	4 years 7 months 6 days		4 years 7 months 6 days		5 years
Operating Lease, Weighted Average Discount Rate, Percent	4.46%		4.46%		4.49%
Operating Lease, Expense	$ 5,200	$ 4,500	$ 15,500	$ 13,200
Purchase Obligation, Future Minimum Payments, Remainder of Fiscal Year	2,100		2,100
Purchase Obligation, Due in Next Twelve Months	10,800		10,800
Purchase Obligation, Due in Second Year	7,000		7,000
Purchase Obligation, Due in Third Year	1,100		1,100
Purchase Obligation, Due after Fifth Year	$ 0		$ 0
Minimum Loan Sale Rate, Whole Loan Sale Program	10.00%		10.00%
Incremental Optional Loan Sale Rate, Whole Loan Sale Program	5.00%		5.00%
Minimum Loan Sale Rate, Access Loan Program	100.00%		100.00%
Other Commitment	$ 8,000		$ 8,000		$ 2,300
Estimated Litigation Liability	$ 8,800		$ 8,800		1,900
Insurance Settlements Receivable					1,000
Litigation Settlement, Expense					$ 900

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended		12 Months Ended
	Oct. 31, 2020	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Debt Instrument [Line Items]
Proceeds from sale of loans		$ 147,627	$ 269,546
Estimated Litigation Liability		$ 8,800		$ 1,900
Litigation Settlement, Expense				$ 900
Subsequent Event [Member]
Debt Instrument [Line Items]
Proceeds from sale of loans	$ 39,800
Loan Principal Sold	$ 41,300