OppFi (OPFI) 10-Q 9 Aug 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2022	Aug. 05, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-39550
Entity Registrant Name	OppFi Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-1648122
Entity Address, Address Line One	130 E. Randolph Street
Entity Address, Address Line Two	Suite 3400
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60601
City Area Code	312
Local Phone Number	212-8079
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		109,343,992
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001818502
Class A Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Class A common stock, par value $0.0001 per share
Entity Trading Symbol	OPFI
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		13,664,296
Warrants
Entity Information [Line Items]
Title of 12(b) Security	Warrants, each whole warrant exercisable for one share of Class A common stock, each at an exercise price of $11.50 per share
Entity Trading Symbol	OPFI WS
Security Exchange Name	NYSE
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		0
Class V Voting Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		95,679,696

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands		Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Assets
Cash	[1]	$ 23,472	$ 25,064
Restricted cash	[1]	34,166	37,298
Total cash and restricted cash		57,638	62,362	$ 120,779
Finance receivables at fair value	[1]	450,703	383,890
Finance receivables at amortized cost, net of allowance for credit losses of $931 and $803 as of June 30, 2022 and December 31, 2021, respectively, and unearned income of $232 and $286 as of June 30, 2022 and December 31, 2021, respectively	[1]	4,579	4,220
Debt issuance costs, net	[1]	2,328	1,525
Property, equipment and software, net		14,949	14,643
Operating lease right of use asset		14,764
Deferred tax asset		24,831	25,593
Other assets	[1]	8,278	9,873
Total assets		578,070	502,106
Liabilities:
Accounts payable	[1]	10,229	6,100
Accrued expenses	[1]	19,355	29,595
Operating lease liability		17,285
Note payable		168	0
Secured borrowing payable	[1]	5,123	22,443
Senior debt, net	[1]	331,237	251,578
Warrant liabilities		5,539	11,240
Tax receivable agreement liability		23,636	23,272
Total liabilities		412,572	344,228
Commitments and contingencies (Note 14)
Stockholders' equity:
Preferred stock, $0.0001 par value (1,000,000 shares authorized with no shares issued and outstanding as of June 30, 2022 and December 31, 2021)		0	0
Additional paid-in capital		64,330	61,672
Accumulated deficit		(66,164)	(70,723)
Treasury stock at cost, 615,652 shares as of June 30, 2022		(2,153)		$ 0
Total OppFi Inc.'s stockholders' deficit		(3,976)	(9,040)
Noncontrolling interest		169,474	166,918
Total stockholders' equity		165,498	157,878
Total liabilities and stockholders' equity		578,070	502,106
Variable Interest Entity, Primary Beneficiary
Assets
Cash		77	46
Restricted cash		24,831	25,780
Total cash and restricted cash		24,908	25,826
Finance receivables at fair value		423,511	379,512
Finance receivables at amortized cost, net of allowance for credit losses of $931 and $803 as of June 30, 2022 and December 31, 2021, respectively, and unearned income of $232 and $286 as of June 30, 2022 and December 31, 2021, respectively		491	0
Debt issuance costs, net		2,328	1,525
Other assets		41	34
Total assets		451,279	406,897
Liabilities:
Accounts payable		32	25
Accrued expenses		1,950	2,008
Secured borrowing payable		5,123	22,443
Senior debt, net		282,442	203,000
Total liabilities		289,547	227,476
Class A Common Stock
Stockholders' equity:
Common stock, value, issued		$ 1	$ 1
Common stock, shares, issued (in shares)		14,247,912	13,631,484
Class B Common Stock
Stockholders' equity:
Common stock, value, issued		$ 0	$ 0
Common stock, shares, issued (in shares)		0	0
Class V Voting Stock
Stockholders' equity:
Common stock, value, issued		$ 10	$ 10
Common stock, shares, issued (in shares)		95,729,696	96,338,474
[1](1) Includes amounts in consolidated variable interest entities ("VIEs") presented separately in the table below.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Allowance for credit losses	$ 1,045	$ 803
Unearned annual fee income	$ (139)	$ (286)
Preferred stock, par or stated value per share (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, shares, outstanding (in shares)	13,632,260
Treasury stock, shares (in shares)	615,652
Variable Interest Entity, Primary Beneficiary
Allowance for credit losses	$ 50
Class A Common Stock
Common stock, par or stated value per share (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	379,000,000	379,000,000
Common stock, shares, issued (in shares)	14,247,912	13,631,484
Common stock, shares, outstanding (in shares)		13,631,484
Class B Common Stock
Common stock, par or stated value per share (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	6,000,000	6,000,000
Common stock, shares, issued (in shares)	0	0
Common stock, shares, outstanding (in shares)	0	0
Class V Voting Stock
Common stock, par or stated value per share (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	115,000,000	115,000,000
Common stock, shares, issued (in shares)	95,729,696	96,338,474
Common stock, shares, outstanding (in shares)	95,729,696	96,338,474

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue:
Interest and loan related income	$ 107,873	$ 78,030	$ 208,209	$ 162,133
Other income	2	346	376	500
Interest and other income	107,875	78,376	208,585	162,633
Change in fair value of finance receivables	(42,154)	(11,306)	(91,679)	(33,695)
Provision for credit losses on finance receivables	(569)	(31)	(1,026)	(38)
Net revenue	65,152	67,039	115,880	128,900
Expenses:
Direct marketing costs	19,079	11,439	32,967	18,922
Salaries and employee benefits	15,314	14,694	32,147	28,966
Interest expense and amortized debt issuance costs	7,878	6,385	15,326	10,856
Interest expense - related party	0	0	0	137
Depreciation and amortization	3,366	2,413	6,604	4,577
Technology costs	3,287	2,422	6,422	4,569
Professional fees	3,024	3,674	5,514	5,880
Payment processing fees	2,439	1,684	4,505	3,312
Occupancy	1,071	879	2,140	1,759
Management fees - related party	0	175	0	350
General, administrative and other	3,292	5,287	6,014	7,201
Total expenses	58,750	49,052	111,639	86,529
Income from operations	6,402	17,987	4,241	42,371
Other income:
Change in fair value of warrant liabilities	3,297	0	5,701	0
Income before income taxes	9,699	17,987	9,942	42,371
Provision for income taxes	202	0	742	0
Net income	9,497	17,987	9,200	42,371
Net income attributable to noncontrolling interest	6,039		4,666
Net income attributable to OppFi Inc.	$ 3,458		$ 4,534
Earnings Per Share [Abstract]
Basic (in dollars per share)	$ 0.26		$ 0.33
Diluted (in dollars per share)	$ 0.10		$ 0.10
Weighted average common shares outstanding:
Basic (in dollars per share)	13,525,101		13,553,308
Diluted (in dollars per share)	84,283,102		84,377,754
Pro forma:
Pro forma income tax expense (unaudited)	$ 202	0	$ 742	0
Pro forma net income (unaudited)	$ 9,497	17,987	$ 9,200	42,371
Pro Forma
Other income:
Provision for income taxes		541		1,228
Net income		17,446		41,143
Pro forma:
Pro forma income tax expense (unaudited)		541		1,228
Pro forma net income (unaudited)		$ 17,446		$ 41,143

Consolidated Statements of Stoc

Consolidated Statements of Stockholders’ Equity / Members’ Equity (Unaudited) - USD ($) $ in Thousands	Total	Preferred Units	Common Stock Class A Common Stock	Common Stock Class V Voting Stock	Treasury Stock	Additional Paid-in Capital	Accumulated (Deficit) Earnings	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2020		41,102,500	0	0
Beginning balance at Dec. 31, 2020	$ 99,332	$ 6,660	$ 0	$ 0	$ 0	$ 352	$ 92,320	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Member distributions	(34,028)						(34,028)
Net income	42,371						42,371	0
Effects of adopting fair value option	69,435						69,435
Profit interest compensation	229					229
Tax receivable agreement	0
Ending balance (in shares) at Jun. 30, 2021		41,102,500	0	0
Ending balance at Jun. 30, 2021	177,339	$ 6,660	$ 0	$ 0	0	581	170,098	0
Beginning balance (in shares) at Mar. 31, 2021		41,102,500	0	0
Beginning balance at Mar. 31, 2021	194,115	$ 6,660	$ 0	$ 0	0	401	187,054	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Member distributions	(33,126)						(33,126)
Net income	17,987						17,987
Effects of adopting fair value option	(1,817)						(1,817)
Profit interest compensation	180					180
Ending balance (in shares) at Jun. 30, 2021		41,102,500	0	0
Ending balance at Jun. 30, 2021	177,339	$ 6,660	$ 0	$ 0	0	581	170,098	0
Beginning balance (in shares) at Dec. 31, 2021		0	13,631,484	96,338,474
Beginning balance at Dec. 31, 2021	157,878	$ 0	$ 1	$ 10	0	61,672	(70,723)	166,918
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exchange of Class V shares (in shares)			609,000	(609,000)
Exchange of Class V shares	0					922	25	(947)
Vesting of restricted stock units (in shares)			7,650
Vesting of restricted stock units	0
Stock-based compensation	$ 1,629					1,629
Purchase of treasury stock (in shares)	(615,652)
Purchase of treasury stock	$ (2,153)				(2,153)
Member distributions	(1,163)						0	(1,163)
Net income	9,200						4,534	4,666
Tax receivable agreement	107					107
Ending balance (in shares) at Jun. 30, 2022		0	13,632,260	95,729,696
Ending balance at Jun. 30, 2022	165,498	$ 0	$ 1	$ 10	(2,153)	64,330	(66,164)	169,474
Beginning balance (in shares) at Mar. 31, 2022		0	13,349,150	96,338,474
Beginning balance at Mar. 31, 2022	156,590	$ 0	$ 1	$ 10	(1,037)	62,305	(69,647)	164,958
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exchange of Class V shares (in shares)			608,778	(608,778)
Exchange of Class V shares	0					922	25	(947)
Vesting of restricted stock units (in shares)			7,650
Vesting of restricted stock units	0
Stock-based compensation	1,050					1,050
Purchase of treasury stock (in shares)			(333,318)
Purchase of treasury stock	(1,116)				(1,116)
Member distributions	(576)						0	(576)
Net income	9,497						3,458	6,039
Tax receivable agreement	53					53
Ending balance (in shares) at Jun. 30, 2022		0	13,632,260	95,729,696
Ending balance at Jun. 30, 2022	$ 165,498	$ 0	$ 1	$ 10	$ (2,153)	$ 64,330	$ (66,164)	$ 169,474

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net income	$ 9,200	$ 42,371
Adjustments to reconcile net income to net cash provided by operating activities:
Change in fair value of finance receivables	91,679	33,695
Provision for credit losses on finance receivables	1,026	38
Depreciation and amortization	6,604	4,577
Debt issuance cost amortization	1,506	1,163
Profit interest and stock-based compensation expense	1,629	229
Amortization of operating lease	9
Loss on disposition of equipment	3	4
Deferred income taxes	762	0
Change in tax receivable agreement liability	364	0
Change in fair value of warrant liabilities	(5,701)	0
Changes in assets and liabilities:
Accrued interest and fees receivable	(2,252)	(1,512)
Other assets	1,595	(812)
Accounts payable	4,129	(753)
Accrued expenses	(7,769)	5,837
Net cash provided by operating activities	102,784	84,837
Cash flows from investing activities:
Finance receivables originated and acquired	(369,913)	(248,453)
Finance receivables repayments and recoveries	212,436	207,156
Purchases of equipment and capitalized technology	(6,913)	(6,581)
Net cash used in investing activities	(164,390)	(47,878)
Cash flows from financing activities:
Member distributions	(1,163)	(34,028)
Net (payments) advances of secured borrowing payable	(17,320)	1,624
Net advances of senior debt	79,442	76,228
Net advance of note payable	168	0
Payment of subordinated debt - related party	0	(4,000)
Payment for debt issuance costs	(2,092)	(1,661)
Repurchases of common stock	(2,153)	0
Net cash provided by financing activities	56,882	38,163
Net (decrease) increase in cash and restricted cash	(4,724)	75,122
Cash and restricted cash
Beginning	62,362	45,657
Ending	57,638	120,779
Supplemental disclosure of cash flow information:
Interest paid on borrowed funds	14,196	10,002
Income taxes paid	328	0
Supplemental disclosure of non-cash activities:
Non-cash change from adopting the fair value option on finance receivables	0	69,435
Increase in additional paid-in capital as a result of tax receivable agreement	107	$ 0
Operating lease right of use asset recognized from adoption of ASU 2016-02	15,459
Operating lease liability recognized from adoption of ASU 2016-02	$ 17,972

Organization and Nature of Oper

Organization and Nature of Operations	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Operations	Organization and Nature of Operations OppFi Inc. (“OppFi”), formerly FG New America Acquisition Corp. (“FGNA”), collectively with its consolidated subsidiaries (“Company”), is a leading mission-driven financial technology platform that powers banks to offer accessible lending products to everyday consumers through its proprietary technology and artificial intelligence and a top-rated experience. OppFi’s platform facilitates credit access products primarily through its installment loan product, OppLoans. OppFi’s credit access products also include its payroll deduction secured installment loan product, SalaryTap, and credit card product, OppFi Card. On July 20, 2021 (“Closing Date”), the Company completed a business combination pursuant to the Business Combination Agreement (“Business Combination Agreement”), dated as of February 9, 2021, by and among Opportunity Financial, LLC (“OppFi-LLC”), a Delaware limited liability company, OppFi Shares, LLC (“OFS”), a Delaware limited liability company, and Todd Schwartz (“Members’ Representative”), in his capacity as the representative of the members of OppFi-LLC (“Members”) immediately prior to the closing (“Closing”). The transactions contemplated by the Business Combination Agreement are referred to herein as the “Business Combination.” At the Closing, FGNA changed its name to “OppFi Inc.” OppFi’s Class A common stock, par value $0.0001 per share (“Class A Common Stock”) and redeemable warrants exercisable for Class A Common Stock (“Public Warrants”) are listed on the New York Stock Exchange (“NYSE”) under the symbols “OPFI” and “OPFI WS,” respectively. Following the Closing, the Company is organized in an “Up-C” structure in which substantially all of the assets and the business of the Company are held by OppFi-LLC and its subsidiaries, and OppFi’s only direct assets consist of Class A common units of OppFi-LLC (“OppFi Units”). As of June 30, 2022, OppFi owned approximately 12.5% of the OppFi Units and controls OppFi-LLC as the sole manager of OppFi-LLC in accordance with the terms of the Third Amended and Restated Limited Liability Company Agreement of OppFi-LLC (“OppFi A&R LLCA”). All remaining OppFi Units (“Retained OppFi Units”) are beneficially owned by the Members. OFS holds a controlling voting interest in OppFi through its ownership of shares of Class V common stock, par value $0.0001 per share, of OppFi (“Class V Voting Stock”) in an amount equal to the number of Retained OppFi Units and therefore has the ability to control OppFi-LLC.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of presentation and consolidation: The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been omitted if they substantially duplicate the disclosures contained in the Company’s annual audited consolidated financial statements pursuant to such rules and regulations. These unaudited consolidated financial statements and related notes should be read in conjunction with the Company’s audited consolidated financial statements and the related notes as of and for the year ended December 31, 2021 included in the Company's Annual Report on Form 10-K ("Annual Report"), as amended, for the year ended December 31, 2021, filed with the SEC on March 11, 2022. In the opinion of the Company’s management, these unaudited consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary for the fair statement of the results and financial position for the periods presented. The results of operations for the three and six months ended June 30, 2022 are not necessarily indicative of the results of operations that may be expected for the full year ending December 31, 2022. The accompanying unaudited consolidated financial statements include the accounts of OppFi and OppFi-LLC with its wholly-owned subsidiaries and variable interest entities (“VIEs”) in which the Company is the primary beneficiary. The Company is considered to be the primary beneficiary of a VIE when it has both (i) the power to direct the activities that most significantly impact the VIE’s economic performance, and (ii) the obligation to absorb losses or receive benefits of a VIE that could potentially be significant to the VIE. All intercompany transactions and balances have been eliminated in consolidation. On April 15, 2022, OppFi-LLC entered into agreements with Midtown Madison Management LLC, an unrelated third party, and Gray Rock SPV LLC, an entity formed by third-party investors for the purpose of purchasing participation interests in receivables from Gray Rock Finance LLC. Under the terms of the agreements, OppFi-LLC serves as the servicer of these financial assets. As the servicer, OppFi-LLC is subject to various financial covenants, such as minimum tangible net worth, liquidity and debt-to-equity ratio. OppFi-LLC also entered into a total return swap transaction with Midtown Madison Management LLC, providing credit protection related to a reference pool of consumer receivables financed by Midtown Madison Management LLC. While Gray Rock SPV LLC is not owned by OppFi-LLC, Gray Rock SPV LLC was determined to be a VIE and OppFi-LLC is considered the primary beneficiary based on its power to direct activities through its role as a servicer and its obligations to absorb losses and right to receive benefits. 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. OppFi’s Chief Executive Officer is 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. Use of estimates: The preparation of the unaudited consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions, including those impacted by COVID-19, that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the unaudited consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The judgements, assumptions, and estimates used by management are based on historical experience, management’s experience and qualitative factors. The areas subject to significant estimation techniques are the determination of fair value of installment finance receivables and warrants, the adequacy of the allowance for credit losses on finance receivables, operating lease right of use asset, operating lease liability, valuation allowance of deferred tax assets, stock-based compensation expense and income tax provision. For the aforementioned estimates, it is reasonably possible the recorded amounts or related disclosures could significantly change in the near future as new information is available. 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 pronouncement subsequently adopted as noted below and the accounting for earnings per share as noted below and in Note 17. Participation rights purchase obligations : OppFi-LLC has entered into bank partnership arrangements with certain banks insured by the FDIC. As part of these bank partnership arrangements, the banks have the ability to retain a percentage of the finance receivables they have originated, and OppFi-LLC’s participation rights are reduced by the percentage of the finance receivables retained by the banks. For the six months ended June 30, 2022 and 2021, finance receivables originated through the bank partnership arrangements totaled 94% and 84%, respectively. As of June 30, 2022 and December 31, 2021, the unpaid principal balance of finance receivables outstanding for purchase was $18.6 million and $9.5 million, respectively. Troubled debt restructurings: As the terms of the receivables are typically not renegotiated and settlement offers are not typically made until after a receivable stops accruing interest income (up to 60 days delinquent), the only receivables considered to be impaired, or troubled debt restructurings, are: 1) those receivables where a settlement offer is made after receivables cease accruing interest, which may result in a modification of contractual terms, 2) the Company has received notification that a borrower is working with a third party to settle debt on his/her behalf and 3) customers who have entered into the Company’s short-term or long-term hardship programs. As of June 30, 2022 and December 31, 2021, management determined the balance of troubled debt restructuring receivables to be immaterial to the consolidated financial statements as a whole. As such, substantially all disclosures relating to impaired finance receivables, and troubled debt restructuring, have been omitted from these consolidated financial statements. Capitalized technology: The Company capitalized software costs associated with application development totaling $3.0 million and $3.4 million for the three months ended June 30, 2022 and 2021, respectively, and $6.8 million and $6.1 million for the six months ended June 30, 2022 and 2021, respectively. Amortization expense, which is included in depreciation and amortization on the consolidated statements of operations, totaled $3.1 million and $2.2 million for the three months ended June 30, 2022 and 2021, respectively, and $6.1 million and $4.1 million for the six months ended June 30, 2022 and 2021, respectively. Treasury stock: The Company accounts for treasury stock under the cost method and includes treasury stock as a component of stockholders’ equity on the consolidated balance sheets. The Company accounts for the reissuance of treasury stock on the first-in, first out (“FIFO”) method. Earnings per share: Basic earnings per share available to common stockholders is calculated by dividing the net income attributable to OppFi by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share available to common stockholders is computed using the more dilutive of a) the treasury stock method, which gives effect to potentially dilutive common stock equivalents of OppFi outstanding during the period, or b) the if-converted method, which gives effect to both the potentially dilutive common stock equivalents outstanding during the period as well as an assumed full exchange of Units of OppFi-LLC into Class A common shares of OppFi as of the beginning of the period. The if-converted method would also give effect to conversion of the Earnout Units in periods they would be deemed to vest. For the if-converted method, earnings is also adjusted to reflect all income of OppFi-LLC inuring to the benefit of OppFi and taxed accordingly. In periods in which the Company reports a net loss available attributable to OppFi, diluted earnings per share available to common stockholders would be the same as basic earnings per share available to common stockholders, since dilutive common shares are not assumed to have been issued if their effect is anti-dilutive. Noncontrolling interests: Noncontrolling interests are held by the Members, who retained 87.5% and 87.6% of the economic ownership percentage of OppFi-LLC as of June 30, 2022 and December 31, 2021, respectively. In accordance with the provisions of Accounting Standards Codification (“ASC”) 810, Consolidation , the Company classifies the noncontrolling interests as a component of stockholders’ equity in the consolidated balance sheets. Additionally, the Company has presented the net income attributable to OppFi and the noncontrolling ownership interests separately in the consolidated statements of operations. Emerging growth company: The Company is an emerging growth company as defined under the Jumpstart Our Business Startups Act of 2012 (“Jobs Act”). The Company is permitted to delay the adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements apply to private companies. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. Accounting pronouncements issued and adopted: In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) and issued certain transitional guidance and subsequent amendments between January 2018 and February 2020 (collectively, “Topic 842”). Under Topic 842, lessees are required to recognize lease assets and lease liabilities on the consolidated balance sheets for all leases with terms longer than twelve months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the consolidated statements of operations. Per ASU No. 2020-05, Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842): Effective Dates for Certain Entities , issued June 2020, Topic 842, as amended, is effective for private companies for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. As permitted for emerging growth companies, the Company adopted Topic 842 under the private company transition guidance, which was effective for the Company beginning on January 1, 2022. The Company utilized the effective date method, whereby the Company will continue to present prior period financial statements and disclosures under ASC 840. In addition, the Company has elected the package of practical expedients permitted under the transition guidance which, among other things, permits companies to not reassess prior conclusions on lease identification, lease classification, and initial direct costs. The Company also elected the practical expedient which permits the Company to combine lease and non-lease components and to exclude short-term leases, defined as having an initial term of twelve months or less, from the consolidated balance sheets. The adoption of Topic 842, as amended, resulted in the Company recording a right-of-use asset and lease liability related to the Company’s operating lease of its corporate headquarters totaling approximately $15.5 million and $18.0 million, respectively, on the Company’s consolidated balance sheet as of January 1, 2022. A decrease to deferred rent totaling approximately $2.5 million, which was previously included in accrued expenses on the consolidated balance sheet, was reclassified as an offset to the right-of-use asset upon adoption of Topic 842. The adoption of the standard did not materially affect the Company's consolidated statements of operations or cash flows. Accounting pronouncements issued and not yet adopted: I n March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . The purpose of ASU No. 2020-04 is to provide optional guidance for a period of time related to accounting for reference rate reform on financial reporting. It is intended to reduce the potential burden of reviewing contract modifications related to discontinued rates. In January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848): Scope . The purpose of ASU No. 2021-01 is to expand guidance on contract modifications and hedge accounting. The amendments and expedients in these updates are effective as of March 12, 2020 through December 31, 2022 and may be elected by topic. The Company is currently evaluating the impact of ASU No. 2020-04 and 2021-01 on the Company’s consolidated financial statements. In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures . The purpose of ASU No. 2022-02 is to provide guidance on troubled debt restructuring accounting model for creditors that have adopted Topic 326. Additionally, the guidance expands on vintage disclosure requirements. The guidance is effective for annual reporting periods beginning after December 15, 2022, including interim periods within the annual reporting period. The Company is currently evaluating the impact of ASU No. 2022-02 on the Company’s consolidated financial statements.

Finance Receivables

Finance Receivables	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
Finance Receivables	Finance Receivables Finance receivables at fair value: The components of installment finance receivables at fair value as of June 30, 2022 and December 31, 2021 were as follows (in thousands): June 30, 2022 December 31, 2021 Unpaid principal balance of finance receivables - accrual $ 362,734 $ 307,059 Unpaid principal balance of finance receivables - non-accrual 31,975 25,185 Unpaid principal balance of finance receivables $ 394,709 $ 332,244 Finance receivables at fair value - accrual $ 432,866 $ 369,576 Finance receivables at fair value - non-accrual 4,941 3,677 Finance receivables at fair value, excluding accrued interest and fees receivable 437,807 373,253 Accrued interest and fees receivable 12,896 10,637 Finance receivables at fair value $ 450,703 $ 383,890 Difference between unpaid principal balance and fair value $ 43,098 $ 41,009 The Company’s policy is to discontinue and reverse the accrual of interest income on installment finances receivables at the earlier of 60 days past due on a recency basis or 90 days past due on a contractual basis. As of June 30, 2022, the aggregate unpaid principal balance and fair value of installment finance receivables 90 days or more past due was $14.3 million and $2.2 million, respectively. As of December 31, 2021, the aggregate unpaid principal balance and fair value of installment finance receivables 90 days or more past due was $10.5 million and $1.5 million, respectively. Changes in the fair value of installment finance receivables at fair value for the three and six months ended June 30, 2022 and 2021 were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Balance at the beginning of the period $ 381,845 $ 269,782 $ 383,890 $ 289,166 Originations of principal 211,370 39,576 365,391 145,410 Repayments of principal and recoveries (102,581) — (209,158) (104,195) Accrued interest and fees receivable 2,223 146 2,259 1,512 Charge-offs, net (1) (46,599) (17,322) (93,770) (37,155) Adjustment to fair value — (1,817) — — Net change in fair value (1) 4,445 6,016 2,091 3,460 Balance at the end of the period $ 450,703 $ 296,381 $ 450,703 $ 296,381 (1) Included in "Change in fair value of finance receivables" in the consolidated statements of operations. Finance receivables at amortized cost, net: The components of finance receivables carried at amortized cost as of June 30, 2022 and December 31, 2021 were as follows (in thousands): June 30, 2022 December 31, 2021 Finance receivables $ 5,746 $ 5,285 Accrued interest and fees 17 24 Unearned annual fee income (139) (286) Allowance for credit losses (1,045) (803) Finance receivables at amortized cost, net $ 4,579 $ 4,220 Changes in the allowance for credit losses on finance receivables for the three and six months ended June 30, 2022 and 2021 were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Beginning balance $ 931 $ 7 $ 803 $ 55,031 Effects of adopting fair value option — — — (55,031) Provisions for credit losses on finance receivables 569 31 1,026 38 Finance receivables charged off (455) (27) (784) (27) Ending balance $ 1,045 $ 11 $ 1,045 $ 11 The following is an assessment of the credit quality of finance receivables at amortized cost and presents the recency and contractual delinquency of the finance receivable portfolio as of June 30, 2022 and December 31, 2021 (in thousands): June 30, 2022 December 31, 2021 Recency delinquency Contractual delinquency Recency delinquency Contractual delinquency Current $ 4,230 $ 4,170 $ 5,016 $ 4,993 Delinquency 30-59 days 374 359 152 171 60-89 days 392 403 102 104 90+ days 750 814 15 17 Total delinquency 1,516 1,576 269 292 Finance receivables $ 5,746 $ 5,746 $ 5,285 $ 5,285

Property, Equipment and Softwar

Property, Equipment and Software, Net	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property, Equipment and Software, Net	Property, Equipment and Software, Net Property, equipment and software consisted of the following (in thousands): June 30, 2022 December 31, 2021 Capitalized technology $ 41,371 $ 34,586 Furniture, fixtures and equipment 3,914 3,792 Leasehold improvements 979 979 Total property, equipment and software 46,264 39,357 Less accumulated depreciation and amortization (31,315) (24,714) Property, equipment and software, net $ 14,949 $ 14,643

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses consisted of the following (in thousands): June 30, 2022 December 31, 2021 Accrual for services rendered and goods purchased $ 8,532 $ 10,631 Accrued payroll and benefits 7,418 11,779 Deferred rent — 2,513 Other 3,405 4,672 Total $ 19,355 $ 29,595

Leases

Leases	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Leases	Leases The Company leases its office facilities under a non-cancelable operating lease agreement with an unrelated party through September 2030. Operating leases are included in "Operating lease right of use asset" and "Operating lease liability" in the consolidated balance sheets. Operating lease cost, which is included in occupancy expense in the consolidated statements of operations, totaled $1.1 million and $2.1 million, of which $0.5 million and $1.0 million was related to variable lease payments, for the three and six months ended June 30, 2022, respectively. Cash paid for amounts included in the measurement of lease liabilities totaled $0.6 million and $1.1 million for the three and six months ended June 30, 2022, respectively. Future minimum lease payments as of June 30, 2022 are as follows (in thousands): Year Amount Remainder of 2022 $ 1,147 2023 2,339 2024 2,410 2025 2,482 2026 2,557 2027 2,633 Thereafter 7,650 Total lease payments 21,218 Less: imputed interest (3,933) Operating lease liability $ 17,285 The weighted average remaining lease term and discount rate as of June 30, 2022 are as follows: Weighted average remaining lease term (in years) 8.3 Weighted average discount rate 5 % Supplemental cash flow information related to the lease for the three and six months ended June 30, 2022 are as follows (in thousands): Three Months Ended Six Months Ended Cash paid for amounts included in the measurement of lease liabilities: Cash paid for operating leases included in operating activities $ 562 $ 1,124 Disclosures under ASC 840, Leases Rent expense, which is included in occupancy expense in the consolidated statements of operations, totaled $0.9 million and $1.8 million for the three and six months ended June 30, 2021, respectively. Future minimum lease payments as of December 31, 2021 were as follows (in thousands): Year Amount 2022 $ 2,271 2023 2,339 2024 2,410 2025 2,482 2026 2,557 Thereafter 10,283 Total $ 22,342

Borrowings

Borrowings	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Borrowings	Borrowings The following is a summary of the Company’s outstanding borrowings as of June 30, 2022 and December 31, 2021, including borrowing capacity as of June 30, 2022 (in thousands): Purpose Borrower Borrowing Capacity June 30, 2022 December 31, 2021 Interest Rate as of June 30, 2022 Maturity Date Secured borrowing payable Opportunity Funding SPE II, LLC $ 5,123 $ 5,123 $ 22,443 15.00% — (1) Senior debt Revolving line of credit Opportunity Funding SPE III, LLC $ 175,000 $ 134,759 $ 119,000 LIBOR plus 6.00% January 2024 Revolving line of credit Opportunity Funding SPE V, LLC; Opportunity Funding SPE VII, LLC (Tranche A) 75,000 37,500 45,900 LIBOR plus 7.25% June 2025 Revolving line of credit Opportunity Funding SPE V, LLC; Opportunity Funding SPE VII, LLC (Tranche B) 125,000 70,000 — SOFR plus 6.75% June 2025 Revolving line of credit Opportunity Funding SPE VI, LLC — — 30,600 LIBOR plus 7.25% April 2023 Revolving line of credit Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC 45,000 7,500 7,500 SOFR plus 0.11% plus 3.85% February 2024 Revolving line of credit Gray Rock SPV LLC 75,000 32,683 — SOFR plus 7.25% April 2025 Total revolving lines of credit 495,000 282,442 203,000 Term loan, net OppFi-LLC 50,000 48,795 48,578 LIBOR plus 10.00% March 2025 Total senior debt $ 545,000 $ 331,237 $ 251,578 Note payable OppFi-LLC $ 168 $ 168 $ — 4.59% December 2022 (1) Maturity date extended indefinitely until borrowing capacity is depleted Secured borrowing payable: As of June 30, 2022 and December 31, 2021, $165.0 million and $148.9 million, respectively, of finance receivables have been purchased with an active secured borrowing balance of $5.1 million and $22.4 million, respectively. Interest expense related to secured borrowings was $0.4 million and $0.5 million for the three months ended June 30, 2022 and 2021, respectively, and $1.2 million and $1.4 million for the six months ended June 30, 2022 and 2021, respectively. Additionally, the Company has capitalized $0.2 million in debt issuance costs related to secured borrowings. There were no amortized debt issuance costs related to secured borrowings for the three and six months ended June 30, 2022. Amortized debt issuance costs related to secured borrowings were $13 thousand and $25 thousand, respectively, for the three and six months ended June 30, 2021. As of June 30, 2022 and December 31, 2021, there were no unamortized debt issuance costs related to secured borrowings. Senior debt: Corporate credit agreement On March 23, 2021, the borrowings under this revolving credit agreement were paid in full. Subsequent to repayment, OppFi-LLC terminated the revolving credit agreement. Interest expense related to the revolving credit agreement totaled $35 thousand for the six months ended June 30, 2021. Additionally, the Company has capitalized $0.3 million in debt issuance costs in connection with this facility. For the six months ended June 30, 2021, amortized debt issuance costs were $21 thousand. Revolving line of credit - Opportunity Funding SPE III, LLC Interest expense related to this facility was $2.6 million and $1.9 million for the three months ended June 30, 2022 and 2021, respectively, and $5.1 million and $3.2 million for the six months ended June 30, 2022 and 2021, respectively. Additionally, the Company has capitalized $2.1 million in debt issuance costs in connection with this facility. Amortized debt issuance costs associated with this facility were $0.2 million and $0.2 million for the three months ended June 30, 2022 and 2021, respectively, and $0.4 million and $0.4 million for the six months ended June 30, 2022 and 2021, respectively. As of June 30, 2022 and December 31, 2021, the remaining balance of unamortized debt issuance costs associated with the facility was $0.6 million and $0.8 million, respectively. Revolving line of credit - Opportunity Funding SPE V, LLC and Opportunity Funding SPE VII, LLC On June 14, 2022, this revolving credit agreement was amended to, among other things, increase the size of the facility from $75 million to $200 million and extend the revolving period for an additional three years to June 14, 2025. Under the amendment, this revolving credit agreement was bifurcated into two tranches: Tranche A, in amount of $75 million, and Tranche B, in an amount of $125 million. The amendment also replaced the use of Adjusted LIBOR Rate with Term Secured Overnight Financing Rate (“SOFR”) as the benchmark interest rate for Tranche B. Interest expense related to this facility was $1.5 million and $1.0 million for the three months ended June 30, 2022 and 2021, respectively, and $2.6 million and $1.6 million for the six months ended June 30, 2022 and 2021, respectively. Additionally, the Company has capitalized $1.5 million in debt issuance costs in connection with this facility. Amortized debt issuance costs associated with this facility were $0.1 million and $0.1 million for the three months ended June 30, 2022 and 2021, respectively, and $0.3 million and $0.2 million for the six months ended June 30, 2022 and 2021, respectively. As of June 30, 2022 and December 31, 2021, the remaining balance of unamortized debt issuance costs associated with this facility was $0.2 million and $0.4 million, respectively. Revolving line of credit - Opportunity Funding SPE VI, LLC On June 22, 2022, the borrowings under this revolving line of credit agreement were paid in full. Subsequent to repayment, OppFi-LLC terminated the revolving credit agreement. Interest expense related to this facility was $0.8 million and $0.6 million for the three months ended June 30, 2022 and 2021, respectively, and $1.6 million and $1.0 million for the six months ended June 30, 2022 and 2021, respectively. Additionally, the Company has capitalized $0.9 million in debt issuance costs in connection with this facility. Amortized debt issuance costs associated with this facility were $14.2 thousand and $0.1 million for the three months ended June 30, 2022 and 2021, respectively, and $0.1 million and $0.2 million for the six months ended June 30, 2022 and 2021, respectively. As of June 30, 2022 and December 31, 2021 , the remaining balance of unamortized debt issuance costs associated with this facility was $14 thousand and $0.1 million, respectively. Revolving line of credit - Opportunity Funding SPE IV, LLC and SalaryTap Funding SPE, LLC On March 31, 2022, this revolving credit agreement was amended to bear interest in accordance with the SOFR at a per annum rate equal to the applicable SOFR rate plus a credit spread adjustment of 0.11% plus 3.85%. Interest expense related to this facility was $0.1 million and $0.1 million for the three months ended June 30, 2022 and 2021, respectively, and $0.2 million and $0.2 million for the six months ended June 30, 2022 and 2021, respectively. Additionally, the Company has capitalized $0.9 million in debt issuance costs in connection with this facility. Amortized debt issuance costs associated with this facility were $0.1 million and $0.2 million for the three months ended June 30, 2022 and 2021, respectively, and $0.1 million and $0.2 million for the six months ended June 30, 2022 and 2021, respectively. As of June 30, 2022 and December 31, 2021, the remaining balance of unamortized debt issuance costs associated with this facility was $0.3 million and $0.3 million, respectively. Revolving line of credit - Gray Rock SPV LLC On April 15, 2022, Gray Rock SPV LLC entered into a revolving line of credit agreement that provides maximum borrowings of $75 million. Interest is payable monthly. Borrowings are secured by the assets of Gray Rock SPV LLC. The revolving line of credit agreement contains a financial covenant restricting dividend payments. For the three and six months ended June 30, 2022, interest expense related to this facility totaled $0.4 million. Term loan, net As of June 30, 2022 and December 31, 2021, the outstanding balance of $50.0 million was net of unamortized debt issuance costs of $1.3 million and $1.4 million, respectively. Interest expense related to this facility was $1.5 million and $1.6 million for the three months ended June 30, 2022 and 2021, respectively, and $3.0 million and $2.3 million for the six months ended June 30, 2022 and 2021, respectively. Additionally, the Company has capitalized $2.3 million in debt issuance costs in connection with this facility. Amortized debt issuance costs associated with this facility were $0.1 million and $0.1 million for the three months ended June 30, 2022 and 2021, respectively, and $0.2 million and $0.2 million for the six months ended June 30, 2022 and 2021, respectively. As of June 30, 2022, required payments for the term loan for each of the next five years are as follows (in thousands): Year Amount Remainder of 2022 $ — 2023 — 2024 — 2025 50,000 2026 — Total $ 50,000 Note payable: In March 2022, OppFi entered into a financing agreement for the financing of insurance premiums totaling $0.3 million payable in ten monthly installments of $28 thousand through December 23, 2022. Interest expense related to this note payable was $1.9 thousand for the three and six months ended June 30, 2022. Subordinated debt - related party: On March 30, 2021, the borrowings under this unsecured line of credit agreement were paid in full. Interest expense related to this related party transaction was $0.1 million for the six months ended June 30, 2021.

Warrant Liabilities

Warrant Liabilities	6 Months Ended
	Jun. 30, 2022
Warrants and Rights Note Disclosure [Abstract]
Warrant Liabilities	Warrant LiabilitiesAs of June 30, 2022, there were 11,887,500 Public Warrants and 3,451,937 Private Placement Warrants outstanding. As of June 30, 2022 and December 31, 2021, the Company recorded warrant liabilities of $5.5 million and $11.2 million, respectively, in the consolidated balance sheets. The change in fair value of the Public Warrants and Private Placement Warrants was $2.4 million and $0.9 million, respectively, for the three months ended June 30, 2022 and was $4.3 million and $1.4 million, respectively, for the six months ended June 30, 2022.

Stockholders_ Equity

Stockholders’ Equity	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Stockholders’ Equity	Stockholders’ Equity Share repurchase: On January 6, 2022, OppFi announced that its Board of Directors (“Board”) had authorized a program to repurchase (“Repurchase Program”) up to $20.0 million in the aggregate of shares of Class A Common Stock. Repurchases under the Repurchase Program may be made from time to time, on the open market, in privately negotiated transactions, or by other methods, at the discretion of the management of the Company and in accordance with the limitations set forth in Rule 10b-18 promulgated under the Securities Exchange Act of 1934, as amended, and other applicable legal requirements. The timing and amount of the repurchases will depend on market conditions and other requirements. The Repurchase Program does not obligate the Company to repurchase any dollar amount or number of shares and the Repurchase Program may be extended, modified, suspended, or discontinued at any time. For each share of Class A Common Stock that the Company repurchases under the Repurchase Program, OppFi-LLC will redeem one Class A common unit of OppFi-LLC held by OppFi, decreasing the percentage ownership of OppFi-LLC by OppFi and relatively increasing the ownership by the Members. The Repurchase Program will expire in December 2023. During the three months ended June 30, 2022, OppFi repurchased 333,318 shares of Class A Common Stock, which were held as treasury stock as of June 30, 2022, at an average purchase price of $3.31 per share for an aggregate purchase price of $1.1 million. During the six months ended June 30, 2022, OppFi repurchased 615,652 shares of Class A Common Stock, which were held as treasury stock as of June 30, 2022, at an average purchase price of $3.48 per share for an aggregate purchase price of $2.1 million. As of June 30, 2022, $17.9 million of the repurchase authorization under the Repurchase Program remained available.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2022
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation On July 20, 2021, OppFi established the OppFi Inc. 2021 Equity Incentive Plan (“Plan”), which provides for the grant of awards in the form of options, stock appreciation rights, restricted stock awards, restricted stock units, performance shares, performance units, cash-based awards, and other stock-based awards to employees, non-employee directors, officers, and consultants. As of June 30, 2022, the maximum aggregate number of shares of Class A Common Stock that may be issued under the Plan (including from outstanding awards) was 11,772,630 shares. As of June 30, 2022, OppFi had only granted awards in the form of options, restricted stock units, and performance stock units. Stock options: A summary of the Company’s stock option activity for the six months ended June 30, 2022 is as follows: Number of Common Stock Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding as of December 31, 2021 3,375,000 $ 15.23 — $ — Granted 553,794 3.94 — — Exercised — — — — Forfeited (1,499,822) 14.01 — — Outstanding as of June 30, 2022 2,428,972 $ 13.40 9.28 $ — Exercisable as of June 30, 2022 175,000 $ 15.23 9.06 $ — For the three and six months ended June 30, 2022, the Company recognized stock-based compensation expense of $0.3 million and $0.1 million, respectively. As of June 30, 2022 and December 31, 2021, the Company had unrecognized stock-based compensation related to unvested stock options of $3.2 million and $6.1 million, respectively, that is expected to be recognized over an estimated weighted average period of approximately 3.2 years and 3.5 years, respectively. The weighted average grant date fair value of stock options granted during the six months ended June 30, 2022 was $2.33. The fair value of each option grant during the six months ended June 30, 2022 was estimated on the grant date using the Black-Scholes option pricing model based on the following assumptions: Volatility (high) 60.00 % - 65.00 % Risk-free rate 1.71% - 3.02% Expected term (years) 6.1 years Dividend yield 0.00 % Restricted stock units: A summary of the Company’s restricted stock unit (“RSU”) activity for the six months ended June 30, 2022 is as follows: Shares Weighted Average Grant Date Fair Value Unvested - beginning of period 1,818,530 $ 7.58 Granted 1,532,592 3.48 Vested (27,159) 3.81 Forfeited (944,246) 5.53 Unvested - end of period 2,379,717 $ 5.30 There were 25,671 vested RSUs that remained unsettled as of June 30, 2022. For the three and six months ended June 30, 2022, the Company recognized stock-based compensation of $0.7 million and $1.5 million related to RSUs, respectively. As of June 30, 2022 and December 31, 2021, total unrecognized compensation expense related to RSUs was $9.9 million and $12.2 million, respectively, which will be recognized over a weighted average vesting period of approximately 3.5 years and 3.6 years, respectively. Performance stock units: A summary of the Company’s performance stock unit (“PSU”) activity for the six months ended June 30, 2022 is as follows: Shares Weighted Average Grant Date Fair Value Unvested - beginning of period 78,907 $ 7.69 Granted 425,264 3.81 Vested — — Forfeited (55,451) 7.69 Unvested - end of period 448,720 $ 4.01 For the three and six months ended June 30, 2022, the Company recognized negative stock-based compensation of $37.6 thousand due to forfeitures and stock-based compensation of $40.8 thousand related to PSUs, respectively. As of June 30, 2022 and December 31, 2021, total unrecognized compensation expense related to PSUs was $1.6 million and $0.5 million, respectively, which will be recognized over a weighted average vesting period of approximately 3.80 years and 3.75 years, respectively. Employee Stock Purchase Plan: On July 20, 2021, the Company established the OppFi Inc. 2021 Employee Stock Purchase Plan (“ESPP”). The ESPP permits eligible employees to contribute up to 10% of their compensation, not to exceed the IRS allowable limit, to purchase shares of Class A Common Stock during six month offerings. Eligible employees will purchase the shares at a price per share equal to the lesser of 85% of the fair market value of the Class A Common Stock on the first trading day of the offering period or the last trading day of the offering period. The offering periods begin each January 1 and July 1, with the initial offering period beginning on January 1, 2022. As of June 30, 2022, the maximum aggregate number of shares of Class A Common Stock that may be issued under the ESPP was 1,200,000 and consists of authorized but unissued or reacquired shares of Class A Common Stock. The maximum aggregate number of shares of Class A Common Stock that may be issued under the ESPP shall be cumulatively increased on each January 1, through and including January 1, 2030, by a number of shares equal to the smallest of (a) one percent of the number of shares of Class A Common Stock issued and outstanding on the immediately preceding December 31, (b) 2,400,000 shares, or (c) an amount determined by the Board. As of June 30, 2022 and December 31, 2021, no shares of Class A Common Stock have been purchased under the ESPP. ESPP employee payroll contributions accrued as of June 30, 2022 were $0.1 million and are included within accrued expenses on the consolidated balance sheets. Payroll contributions accrued as of June 30, 2022 were used to purchase shares at the end of the ESPP offering period ending on June 30, 2022. Payroll contributions ultimately used to purchase shares are reclassified to stockholders’ equity on the purchase date. During the three and six months ended June 30, 2022, the Company recognized ESPP compensation expense of $33.9 thousand. Profit unit interests: Prior to the Business Combination, OppFi-LLC issued profit unit interests, which were recapitalized as OppFi Units in connection with the adoption by the Members in accordance with the terms of the OppFi A&R LLCA immediately prior to the Closing. Total profit interest compensation expense for the three and six months ended June 30, 2021 was $0.2 million and $0.2 million, respectively. The compensation expense accounted for all vested units based on the following assumptions: Expected term 3 years Volatility 68.0 % Discount for lack of marketability 45.0 % Risk free rate 0.2 % A summary of the Company’s profit unit interests activity for the six months ended June 30, 2021 is as follows: Avg Fair Value Units at Grant Date Outstanding at December 31, 2020 12,202,135 $ 0.08 Granted — — Forfeited (54,800) 0.08 Outstanding at March 31, 2021 12,147,335 0.08 Granted — — Forfeited — — Outstanding at June 30, 2021 12,147,335 $ 0.08 A summary of the Company’s non-vested units activity for the six months ended June 30, 2021 is as follows: Avg Fair Value Units at Grant Date Non-vested units at December 31, 2020 4,738,333 $ 0.12 Granted — — Vested (325,835) 0.15 Forfeited (54,800) 0.08 Non-vested units at March 31, 2021 4,357,698 0.12 Granted — — Vested (2,522,476) 0.07 Forfeited — — Non-vested units at June 30, 2021 1,835,222 $ 0.20 Subsequent to the Business Combination, there was no unrecognized compensation expense related to profit unit interests.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended June 30, 2022, OppFi recorded an income tax expense of $0.2 million and reported consolidated income before income taxes of $9.7 million, resulting in a 2.1% effective income tax rate. For the six months ended June 30, 2022, OppFi recorded an income tax expense of $0.7 million and reported consolidated income before income taxes of $9.9 million, resulting in a 7.5% effective income tax rate. As OppFi-LLC was classified as a partnership for federal income tax purposes, OppFi-LLC did not record a federal income tax expense for the three and six months ended June 30, 2021. A pro forma income tax provision has been disclosed as if OppFi-LLC was owned by OppFi for the three and six months ended June 30, 2021 in the same proportion as it is as of June 30, 2022. For the three and six months ended June 30, 2021, the unaudited pro forma income tax expense was $0.5 million and $1.2 million, respectively, resulting in an effective tax rate of 3.0%. OppFi’s effective income tax rates for the three and six months ended June 30, 2022 and for the pro forma 2021 differ from the federal statutory income tax rate of 21% primarily due to the noncontrolling interest in the Up-C partnership structure, nondeductible expenses, state income taxes, and discrete tax items. For the three months ended June 30, 2022, Gray Rock SPV LLC’s income was included in the noncontrolling interest adjustment, because its activity was included in income before income taxes, but excluded from taxation at the Company as Gray Rock SPV LLC is not owned by the Company or OppFi-LLC. For the six months ended June 30, 2022, there was a discrete item recorded of $0.5 million related to a prior period stock compensation adjustment during the three months ended March 31, 2022, which increased the effective rate by 5.4%. Excluding the aforementioned discrete item, the effective tax rate for the six months ended June 30, 2022 would have been 2.1%. OppFi is subject to a 21% federal income tax rate on its activities and its distributive share of income from OppFi-LLC, as well as various state and local income taxes. As of June 30, 2022, OppFi owned 12.5% of the outstanding units of OppFi-LLC and considers appropriate tax accounting only on this portion of OppFi-LLC’s activity. The Company does not have an ownership interest in Gray Rock SPV LLC; as such, there is no tax accounting with regards to this VIE. Additionally, OppFi’s income tax rate varies from the 21% statutory federal income tax rate primarily due to a permanent difference related to the adjustment of the warrant liabilities recorded by OppFi. This fair value adjustment of the warrant liabilities represents a large portion of OppFi’s pre-tax book income or loss and is a permanent difference between GAAP and taxable income, which impacts OppFi’s effective income tax rate. The Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) was enacted on March 27, 2020 in the United States to provide emergency assistance to individuals and businesses affected by the COVID-19 pandemic. For the three and six months ended June 30, 2022, the impact of the CARES Act was immaterial to the Company’s tax provision. However, under the CARES Act, the Company is deferring the employer portion of payroll tax payments through December 31, 2022. There were no unrecognized tax benefits as of June 30, 2022 or December 31, 2021, and there were also no amounts accrued for the payment of interest and penalties as of June 30, 2022 or December 31, 2021. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviations from its position. The Company is subject to income tax examinations by major taxing authorities since inception.

Interest Expense and Amortized

Interest Expense and Amortized Debt Issuance Costs	6 Months Ended
	Jun. 30, 2022
Interest Expense And Amortized Debt Issuance Costs [Abstract]
Interest Expense and Amortized Debt Issuance Costs	Interest Expense and Amortized Debt Issuance Costs The following table summarizes interest expense and amortized debt issuance costs for the three and six months ended June 30, 2022 and 2021 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Interest expense $ 7,443 $ 5,743 $ 14,282 $ 9,693 Amortized debt issuance costs 435 642 1,044 1,163 Interest expense and amortized debt issuance costs $ 7,878 $ 6,385 $ 15,326 $ 10,856

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value on a nonrecurring basis : The Company has no assets or liabilities measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances. Fair value measurement on a recurring basis : The Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021 are as follows (in thousands): Carrying Value Fair Value Measurements June 30, 2022 Level 1 Level 2 Level 3 Financial assets: Finance receivables at fair value, excluding accrued interest and fees receivable (1) $ 437,807 $ — $ — $ 437,807 Financial liabilities: Warrant liability - Public Warrants (2) 3,804 3,804 — — Warrant liability - Private Placement Warrants (3) 1,735 — — 1,735 Carrying Value Fair Value Measurements December 31, 2021 Level 1 Level 2 Level 3 Financial assets: Finance receivables at fair value, excluding accrued interest and fees receivable (1) $ 373,253 $ — $ — $ 373,253 Financial liabilities: Warrant liability - Public Warrants (2) 8,083 8,083 — — Warrant liability - Private Placement Warrants (3) 3,157 — — 3,157 During the three and six months ended June 30, 2022 and 2021, there were no transfers of assets or liabilities in or out of Level 3 fair value measurements. (1) The Company primarily estimates the fair value of its installment finance receivables portfolio using discounted cash flow models that have been internally developed. The models use inputs that are unobservable but reflect the Company’s best estimates of the assumptions a market participant would use to calculate fair value. The following table presents quantitative information about the significant unobservable inputs used for the Company’s installment finance receivables fair value measurements as of June 30, 2022 and December 31, 2021: June 30, 2022 December 31, 2021 Interest rate on finance receivables 149.90 % 147.60 % Discount rate 24.90 % 21.80 % Servicing cost* 5.00 % 5.00 % Remaining life 0.64 years 0.62 years Default rate* 19.46 % 17.70 % Accrued interest* 3.27 % 3.20 % Prepayment rate* 16.39 % 21.00 % *Stated as a percentage of finance receivables (2) The fair value measurement for the Public Warrants is categorized as Level 1 due to the use of an observable market quote in an active market under the ticker OPFI WS. (3) The fair value of the Private Placement Warrants is measured using a Monte Carlo simulation; accordingly, the fair value measurement for the Private Placement Warrants is categorized as Level 3. The following table presents the significant assumptions used in the simulation at June 30, 2022 and December 31, 2021, the Closing Date: June 30, 2022 December 31, 2021 Input $11.50 Exercise $15 Exercise $11.50 Exercise $15 Exercise Risk-free interest rate 2.98 % 2.98 % 1.19 % 1.50 % Expected term (years) 4.1 9.1 4.6 9.6 Expected volatility 50.30 % 50.30 % 48.40 % 48.40 % Exercise price $ 11.50 $ 15.00 $ 11.50 $ 15.00 Fair value of warrants $ 0.36 $ 0.90 $ 0.74 $ 1.40 The following table presents the changes in the fair value of the warrant liability - Private Placement Warrants (in thousands): $11.50 Exercise $15 Exercise Total Fair value as of December 31, 2021 $ 1,879 $ 1,278 $ 3,157 Change in fair value (356) (146) (502) Fair value as of March 31, 2022 1,523 1,132 2,655 Change in fair value (609) (311) (920) Fair value as of June 30, 2022 $ 914 $ 821 $ 1,735 Financial assets and liabilities not measured 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 as of June 30, 2022 and December 31, 2021 (in thousands): Carrying Value Fair Value Measurements June 30, 2022 Level 1 Level 2 Level 3 Assets: Cash $ 23,472 $ 23,472 $ — $ — Restricted cash 34,166 34,166 — — Accrued interest and fees receivable 12,896 12,896 — — Finance receivables at amortized cost, net 4,579 — — 4,579 Liabilities: Secured borrowing payable 5,123 — — 5,123 Senior debt, net 331,237 — — 331,237 Carrying Value Fair Value Measurements December 31, 2021 Level 1 Level 2 Level 3 Assets: Cash $ 25,064 $ 25,064 $ — $ — Restricted cash 37,298 37,298 — — Accrued interest and fees receivable 10,637 10,637 — — Finance receivables at amortized cost, net 4,220 — — 4,220 Liabilities: Secured borrowing payable 22,443 — — 22,443 Senior debt, net 251,578 — — 251,578

Commitments, Contingencies and

Commitments, Contingencies and Related Party Transactions	6 Months Ended
	Jun. 30, 2022
Commitments Contingencies And Related Party Transactions [Abstract]
Commitments, Contingencies and Related Party Transactions	Commitments, Contingencies and Related Party Transactions Legal contingencies: Due to the nature of its business activities, the Company is subject to extensive regulations and legal actions and is currently involved in certain legal proceedings, including class action allegations, and regulatory matters, which arise in the normal course of business. In accordance with applicable accounting guidance, the Company establishes an accrued liability for legal proceedings and regulatory matters when those matters present loss contingencies which are both probable and reasonably estimable. The Company has received inquiries from certain agencies and states on its lending compliance, the validity of the bank partnership model, and its ability to facilitate the servicing of bank originated loans. Management is confident that its lending practices and the bank partnership structure, in addition to the Company’s technologies, services, and overall relationship with its bank partners, complies with state and federal laws. However, the inquiries are still in process and the outcome is unknown at this time. The Company is vigorously defending all legal proceedings and regulatory matters. Except as described below, management does not believe that the resolution of any currently pending legal proceedings and regulatory matters will have a material adverse effect on the Company’s financial condition, results of operations, or cash flows. On November 18, 2021, the Company entered into a Consent Judgement and Order (“Settlement”) with the Attorney General of the District of Columbia (“District”) to resolve all matters in a dispute related to the action previously filed against the Company by the District (“Action”). The Company denies the allegations in the Action and denies that it has violated any law or engaged in any deceptive or unfair practices. The Action was resolved to avoid the expense of protracted litigation. As part of the Settlement, the Company agreed to, among other things, refrain from certain business activities in the District of Columbia, pay $0.3 million to the District of Columbia and provide refunds totaling $1.5 million to certain District of Columbia consumers. As of December 31, 2021, unpaid refunds due to certain District of Columbia consumers totaled $1.5 million, which is included in accrued expenses on the consolidated balance sheet as of such date. During the six months ended June 30, 2022, the Company distributed refunds totaling $1.5 million to the District of Columbia consumers and there were no unpaid refunds due as of June 30, 2022. On March 7, 2022, the Company filed a complaint for declaratory and injunctive relief (“Complaint”) against the Commissioner (in her official capacity) of the Department of Financial Protection and Innovation of the State of California (“Defendant”) in the Superior Court of the State of California, County of Los Angeles, Central Division. The Complaint seeks a declaration that the interest rate caps set forth in the California Financing Law, as amended by the Fair Access to Credit Act, a/ k/a AB 539 (“CFL”), do not apply to loans that are originated by the Company’s federally-insured state-chartered bank partners and serviced through the Company’s technology and service platform pursuant to a contractual arrangement with each such bank (“Program”). The Complaint further seeks injunctive relief against the Defendant, preventing the Defendant from enforcing interest rate caps under the CFL against the Company based on activities related to the Program. On April 8, 2022, the Defendant filed a cross-complaint against the Company attempting to enforce the CFL against the Company and, among other things, void loans that are originated by the Company’s federally-insured state-chartered bank partners through the Program in California and seek financial penalties against the Company. On May 10, 2022, the Company filed a Demurrer to the cross-complaint of the Defendant. On July 7, 2022, the Defendant filed its opposition to the Company’s Demurrer to the cross-complaint of the Defendant. The Company intends to aggressively prosecute the claims set forth in the Complaint and vigorously defend itself against the cross-complaint as the Company believes that the Defendant’s position is without merit as explained in the Company’s initial Complaint. Related party transactions: OppFi-LLC previously had an unsecured line of credit agreement with Schwartz Capital Group (“SCG”) with a maximum available amount of $4.0 million, which was paid in full on March 30, 2021. Interest expense related to this related party transaction was $0.1 million for the three and six months ended June 30, 2021. In August 2020, OppFi-LLC entered into a Management Fee Agreement (“Management Fee Agreement”) with SCG. Pursuant to the terms of the Management Fee Agreement, SCG provided board and advisory services. Effective upon the Closing, OppFi-LLC terminated the Management Fee Agreement. For the three and six months ended June 30, 2021, management fees under the Management Fee Agreement totaled $0.2 million and $0.4 million, respectively. Severance agreements: The Company entered into Severance Agreements and General Releases (“Severance Agreements”) with the Company’s former Chief Executive Officer and other key employees. In connection with these Severance Agreements, the Company agreed to, among other things, pay certain severance benefits for one year. Severance expense, which is included in salaries and employee benefits in the consolidated statements of operations, totaled $0.5 million and $0.1 million for the three months ended June 30, 2022 and 2021, respectively, and $2.0 million and $0.4 million for the six months ended June 30, 2022 and 2021, respectively.

Concentration of Credit Risk

Concentration of Credit Risk	6 Months Ended
	Jun. 30, 2022
Risks and Uncertainties [Abstract]
Concentration of Credit Risk	Concentration of Credit RiskFinancial instruments that potentially subject the Company to significant concentration of credit risk consist primarily of finance receivables. As of June 30, 2022, consumers living primarily in Texas, Florida and California made up approximately 13%, 13%, and 12%, respectively, of the gross amount of the Company’s portfolio of finance receivables. As of June 30, 2022, there were no other states that made up more than 10% or more of the gross amount of the Company’s portfolio of finance receivables. As of December 31, 2021, consumers living primarily in Florida, Texas and California made up approximately 14%, 14% and 11%, respectively, of the gross amount of the Company’s portfolio of finance receivables. Furthermore, such consumers’ ability to honor their installment contracts may be affected by economic conditions in these areas. The Company is also exposed to a concentration of credit risk inherent in providing alternate financing programs to borrowers who cannot obtain traditional bank financing.

Retirement Plan

Retirement Plan	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Retirement Plan	Retirement Plan The Company sponsors a 401(k) retirement plan (“401(k) Plan”) for its employees. Full time employees (except certain non-resident aliens) who are age 21 and older are eligible to participate in the 401(k) Plan. The 401(k) Plan participants may elect to contribute a portion of their eligible compensation to the 401(k) Plan. The Company has elected a matching contribution up to 4% on eligible employee compensation. The Company’s contribution, which is included in salaries and employee benefits in the consolidated statements of operations, totaled $0.4 million and $0.4 million for the three months ended June 30, 2022 and 2021, respectively, and $0.8 million and $0.7 million for the six months ended June 30, 2022 and 2021, respectively.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per SharePrior to the reverse recapitalization in connection with the Closing (“Reverse Recapitalization”), all net income was attributable to the noncontrolling interest. For the periods prior to July 20, 2021, earnings per share was not calculated because net income prior to the Business Combination was attributable entirely to OppFi-LLC. The following table sets forth the computation of basic and diluted earnings per share for the three and six months ended June 30, 2022 (in thousands, except share and per share data): Three Months Ended Six Months Ended June 30, 2022 June 30, 2022 Numerator: Net income attributable to OppFi Inc. $ 3,458 $ 4,534 Net income available to Class A common stockholders - Basic 3,458 4,534 Dilutive effect of warrants on net income to Class A common stockholders — — Net income attributable to noncontrolling interest 6,039 4,666 Income tax provision (1,451) (1,120) Net income available to Class A common stockholders - Diluted $ 8,046 $ 8,080 Denominator: Weighted average Class A common stock outstanding - Basic 13,525,101 13,553,308 Effect of dilutive securities: Stock options — — Restricted stock units 125,383 89,519 Performance stock units 18,245 9,123 Warrants — — Employee stock purchase plan — — Units, excluding Earnout Units 70,614,373 70,725,804 Dilutive potential common shares 70,758,001 70,824,446 Weighted average units outstanding - diluted 84,283,102 84,377,754 Earnings per share: Basic EPS $ 0.26 $ 0.33 Diluted EPS $ 0.10 $ 0.10 The following table presents securities that have been excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive for the three and six months ended June 30, 2022: Three Months Ended Six Months Ended June 30, 2022 June 30, 2022 Public Warrants 11,887,500 11,887,500 Private Unit Warrants 231,250 231,250 $11.50 Exercise Price Warrants 2,248,750 2,248,750 $15 Exercise Price Warrants 912,500 912,500 Underwriter Warrants 59,437 59,437 Stock Options 2,428,972 2,278,034 Restricted stock units 1,248,203 1,304,376 Performance stock units 125,564 102,236 Noncontrolling interest - Earnout Units 25,500,000 25,500,000 Potential common stock 44,642,176 44,524,083

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsThe Company has evaluated the impact of events that have occurred through the date these financial statements were issued.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of presentation	The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been omitted if they substantially duplicate the disclosures contained in the Company’s annual audited consolidated financial statements pursuant to such rules and regulations.
Consolidation	These unaudited consolidated financial statements and related notes should be read in conjunction with the Company’s audited consolidated financial statements and the related notes as of and for the year ended December 31, 2021 included in the Company's Annual Report on Form 10-K ("Annual Report"), as amended, for the year ended December 31, 2021, filed with the SEC on March 11, 2022. In the opinion of the Company’s management, these unaudited consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary for the fair statement of the results and financial position for the periods presented. The results of operations for the three and six months ended June 30, 2022 are not necessarily indicative of the results of operations that may be expected for the full year ending December 31, 2022. The accompanying unaudited consolidated financial statements include the accounts of OppFi and OppFi-LLC with its wholly-owned subsidiaries and variable interest entities (“VIEs”) in which the Company is the primary beneficiary. The Company is considered to be the primary beneficiary of a VIE when it has both (i) the power to direct the activities that most significantly impact the VIE’s economic performance, and (ii) the obligation to absorb losses or receive benefits of a VIE that could potentially be significant to the VIE. All intercompany transactions and balances have been eliminated in consolidation.
Segments	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
Use of estimates	Use of estimates: The preparation of the unaudited consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions, including those impacted by COVID-19, that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the unaudited consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The judgements, assumptions, and estimates used by management are based on historical experience, management’s experience and qualitative factors. The areas subject to significant estimation techniques are the determination of fair value of installment finance receivables and warrants, the adequacy of the allowance for credit losses on finance receivables, operating lease right of use asset, operating lease liability, valuation allowance of deferred tax assets, stock-based compensation expense and income tax provision. For the aforementioned estimates, it is reasonably possible the recorded amounts or related disclosures could significantly change in the near future as new information is available.
Participation rights purchase obligation	Participation rights purchase obligations : OppFi-LLC has entered into bank partnership arrangements with certain banks insured by the FDIC. As part of these bank partnership arrangements, the banks have the ability to retain a percentage of the finance receivables they have originated, and OppFi-LLC’s participation rights are reduced by the percentage of the finance receivables retained by the banks. For the six months ended June 30, 2022 and 2021, finance receivables originated through the bank partnership arrangements totaled 94% and 84%, respectively. As of June 30, 2022 and December 31, 2021, the unpaid principal balance of finance receivables outstanding for purchase was $18.6 million and $9.5 million, respectively.
Troubled debt restructurings	Troubled debt restructurings: As the terms of the receivables are typically not renegotiated and settlement offers are not typically made until after a receivable stops accruing interest income (up to 60 days delinquent), the only receivables considered to be impaired, or troubled debt restructurings, are: 1) those receivables where a settlement offer is made after receivables cease accruing interest, which may result in a modification of contractual terms, 2) the Company has received notification that a borrower is working with a third party to settle debt on his/her behalf and 3) customers who have entered into the Company’s short-term or long-term hardship programs. As of June 30, 2022 and December 31, 2021, management determined the balance of troubled debt restructuring receivables to be immaterial to the consolidated financial statements as a whole. As such, substantially all disclosures relating to impaired finance receivables, and troubled debt restructuring, have been omitted from these consolidated financial statements.
Capitalized technology	Capitalized technology: The Company capitalized software costs associated with application development totaling $3.0 million and $3.4 million for the three months ended June 30, 2022 and 2021, respectively, and $6.8 million and $6.1 million for the six months ended June 30, 2022 and 2021, respectively. Amortization expense, which is included in depreciation and amortization on the consolidated statements of operations, totaled $3.1 million and $2.2 million for the three months ended June 30, 2022 and 2021, respectively, and $6.1 million and $4.1 million for the six months ended June 30, 2022 and 2021, respectively.
Earnings per share	Earnings per share: Basic earnings per share available to common stockholders is calculated by dividing the net income attributable to OppFi by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share available to common stockholders is computed using the more dilutive of a) the treasury stock method, which gives effect to potentially dilutive common stock equivalents of OppFi outstanding during the period, or b) the if-converted method, which gives effect to both the potentially dilutive common stock equivalents outstanding during the period as well as an assumed full exchange of Units of OppFi-LLC into Class A common shares of OppFi as of the beginning of the period. The if-converted method would also give effect to conversion of the Earnout Units in periods they would be deemed to vest. For the if-converted method, earnings is also adjusted to reflect all income of OppFi-LLC inuring to the benefit of OppFi and taxed accordingly. In periods in which the Company reports a net loss available attributable to OppFi, diluted earnings per share available to common stockholders would be the same as basic earnings per share available to common stockholders, since dilutive common shares are not assumed to have been issued if their effect is anti-dilutive.
Noncontrolling interests	Noncontrolling interests: Noncontrolling interests are held by the Members, who retained 87.5% and 87.6% of the economic ownership percentage of OppFi-LLC as of June 30, 2022 and December 31, 2021, respectively. In accordance with the provisions of Accounting Standards Codification (“ASC”) 810, Consolidation , the Company classifies the noncontrolling
Emerging growth company	Emerging growth company: The Company is an emerging growth company as defined under the Jumpstart Our Business Startups Act of 2012 (“Jobs Act”). The Company is permitted to delay the adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements apply to private companies. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.
Accounting pronouncements issued and adopted and Accounting pronouncements issued and not yet adopted	Accounting pronouncements issued and adopted: In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) and issued certain transitional guidance and subsequent amendments between January 2018 and February 2020 (collectively, “Topic 842”). Under Topic 842, lessees are required to recognize lease assets and lease liabilities on the consolidated balance sheets for all leases with terms longer than twelve months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the consolidated statements of operations. Per ASU No. 2020-05, Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842): Effective Dates for Certain Entities , issued June 2020, Topic 842, as amended, is effective for private companies for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. As permitted for emerging growth companies, the Company adopted Topic 842 under the private company transition guidance, which was effective for the Company beginning on January 1, 2022. The Company utilized the effective date method, whereby the Company will continue to present prior period financial statements and disclosures under ASC 840. In addition, the Company has elected the package of practical expedients permitted under the transition guidance which, among other things, permits companies to not reassess prior conclusions on lease identification, lease classification, and initial direct costs. The Company also elected the practical expedient which permits the Company to combine lease and non-lease components and to exclude short-term leases, defined as having an initial term of twelve months or less, from the consolidated balance sheets. The adoption of Topic 842, as amended, resulted in the Company recording a right-of-use asset and lease liability related to the Company’s operating lease of its corporate headquarters totaling approximately $15.5 million and $18.0 million, respectively, on the Company’s consolidated balance sheet as of January 1, 2022. A decrease to deferred rent totaling approximately $2.5 million, which was previously included in accrued expenses on the consolidated balance sheet, was reclassified as an offset to the right-of-use asset upon adoption of Topic 842. The adoption of the standard did not materially affect the Company's consolidated statements of operations or cash flows. Accounting pronouncements issued and not yet adopted: I n March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . The purpose of ASU No. 2020-04 is to provide optional guidance for a period of time related to accounting for reference rate reform on financial reporting. It is intended to reduce the potential burden of reviewing contract modifications related to discontinued rates. In January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848): Scope . The purpose of ASU No. 2021-01 is to expand guidance on contract modifications and hedge accounting. The amendments and expedients in these updates are effective as of March 12, 2020 through December 31, 2022 and may be elected by topic. The Company is currently evaluating the impact of ASU No. 2020-04 and 2021-01 on the Company’s consolidated financial statements. In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures . The purpose of ASU No. 2022-02 is to provide guidance on troubled debt restructuring accounting model for creditors that have adopted Topic 326. Additionally, the guidance expands on vintage disclosure requirements. The guidance is effective for annual reporting periods beginning after December 15, 2022, including interim periods within the annual reporting period. The Company is currently evaluating the impact of ASU No. 2022-02 on the Company’s consolidated financial statements.

Finance Receivables (Tables)

Finance Receivables (Tables)	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
Schedule of Installment Finance Receivables at Fair Value	The components of installment finance receivables at fair value as of June 30, 2022 and December 31, 2021 were as follows (in thousands): June 30, 2022 December 31, 2021 Unpaid principal balance of finance receivables - accrual $ 362,734 $ 307,059 Unpaid principal balance of finance receivables - non-accrual 31,975 25,185 Unpaid principal balance of finance receivables $ 394,709 $ 332,244 Finance receivables at fair value - accrual $ 432,866 $ 369,576 Finance receivables at fair value - non-accrual 4,941 3,677 Finance receivables at fair value, excluding accrued interest and fees receivable 437,807 373,253 Accrued interest and fees receivable 12,896 10,637 Finance receivables at fair value $ 450,703 $ 383,890 Difference between unpaid principal balance and fair value $ 43,098 $ 41,009
Schedule of Changes in Fair Value of Installment Finance Receivables	Changes in the fair value of installment finance receivables at fair value for the three and six months ended June 30, 2022 and 2021 were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Balance at the beginning of the period $ 381,845 $ 269,782 $ 383,890 $ 289,166 Originations of principal 211,370 39,576 365,391 145,410 Repayments of principal and recoveries (102,581) — (209,158) (104,195) Accrued interest and fees receivable 2,223 146 2,259 1,512 Charge-offs, net (1) (46,599) (17,322) (93,770) (37,155) Adjustment to fair value — (1,817) — — Net change in fair value (1) 4,445 6,016 2,091 3,460 Balance at the end of the period $ 450,703 $ 296,381 $ 450,703 $ 296,381 (1) Included in "Change in fair value of finance receivables" in the consolidated statements of operations.
Schedule of Finance Receivables	The components of finance receivables carried at amortized cost as of June 30, 2022 and December 31, 2021 were as follows (in thousands): June 30, 2022 December 31, 2021 Finance receivables $ 5,746 $ 5,285 Accrued interest and fees 17 24 Unearned annual fee income (139) (286) Allowance for credit losses (1,045) (803) Finance receivables at amortized cost, net $ 4,579 $ 4,220
Summary of Changes in Allowance for Credit Losses on Finance Receivables	Changes in the allowance for credit losses on finance receivables for the three and six months ended June 30, 2022 and 2021 were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Beginning balance $ 931 $ 7 $ 803 $ 55,031 Effects of adopting fair value option — — — (55,031) Provisions for credit losses on finance receivables 569 31 1,026 38 Finance receivables charged off (455) (27) (784) (27) Ending balance $ 1,045 $ 11 $ 1,045 $ 11
Summary of Credit Quality Finance Receivable Portfolio	The following is an assessment of the credit quality of finance receivables at amortized cost and presents the recency and contractual delinquency of the finance receivable portfolio as of June 30, 2022 and December 31, 2021 (in thousands): June 30, 2022 December 31, 2021 Recency delinquency Contractual delinquency Recency delinquency Contractual delinquency Current $ 4,230 $ 4,170 $ 5,016 $ 4,993 Delinquency 30-59 days 374 359 152 171 60-89 days 392 403 102 104 90+ days 750 814 15 17 Total delinquency 1,516 1,576 269 292 Finance receivables $ 5,746 $ 5,746 $ 5,285 $ 5,285

Property, Equipment and Softw_2

Property, Equipment and Software, Net (Tables)	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property, Equipment and Software	Property, equipment and software consisted of the following (in thousands): June 30, 2022 December 31, 2021 Capitalized technology $ 41,371 $ 34,586 Furniture, fixtures and equipment 3,914 3,792 Leasehold improvements 979 979 Total property, equipment and software 46,264 39,357 Less accumulated depreciation and amortization (31,315) (24,714) Property, equipment and software, net $ 14,949 $ 14,643

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consisted of the following (in thousands): June 30, 2022 December 31, 2021 Accrual for services rendered and goods purchased $ 8,532 $ 10,631 Accrued payroll and benefits 7,418 11,779 Deferred rent — 2,513 Other 3,405 4,672 Total $ 19,355 $ 29,595

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Lessee, Operating Lease, Liability, Maturity	Future minimum lease payments as of June 30, 2022 are as follows (in thousands): Year Amount Remainder of 2022 $ 1,147 2023 2,339 2024 2,410 2025 2,482 2026 2,557 2027 2,633 Thereafter 7,650 Total lease payments 21,218 Less: imputed interest (3,933) Operating lease liability $ 17,285
Schedule of Weighted Average Lease Term/Discount and Supplemental Cash Flow Information Related to Leases	The weighted average remaining lease term and discount rate as of June 30, 2022 are as follows: Weighted average remaining lease term (in years) 8.3 Weighted average discount rate 5 % Supplemental cash flow information related to the lease for the three and six months ended June 30, 2022 are as follows (in thousands): Three Months Ended Six Months Ended Cash paid for amounts included in the measurement of lease liabilities: Cash paid for operating leases included in operating activities $ 562 $ 1,124
Schedule of Future Minimum Lease Payments	Future minimum lease payments as of December 31, 2021 were as follows (in thousands): Year Amount 2022 $ 2,271 2023 2,339 2024 2,410 2025 2,482 2026 2,557 Thereafter 10,283 Total $ 22,342

Borrowings (Tables)

Borrowings (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Borrowings	The following is a summary of the Company’s outstanding borrowings as of June 30, 2022 and December 31, 2021, including borrowing capacity as of June 30, 2022 (in thousands): Purpose Borrower Borrowing Capacity June 30, 2022 December 31, 2021 Interest Rate as of June 30, 2022 Maturity Date Secured borrowing payable Opportunity Funding SPE II, LLC $ 5,123 $ 5,123 $ 22,443 15.00% — (1) Senior debt Revolving line of credit Opportunity Funding SPE III, LLC $ 175,000 $ 134,759 $ 119,000 LIBOR plus 6.00% January 2024 Revolving line of credit Opportunity Funding SPE V, LLC; Opportunity Funding SPE VII, LLC (Tranche A) 75,000 37,500 45,900 LIBOR plus 7.25% June 2025 Revolving line of credit Opportunity Funding SPE V, LLC; Opportunity Funding SPE VII, LLC (Tranche B) 125,000 70,000 — SOFR plus 6.75% June 2025 Revolving line of credit Opportunity Funding SPE VI, LLC — — 30,600 LIBOR plus 7.25% April 2023 Revolving line of credit Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC 45,000 7,500 7,500 SOFR plus 0.11% plus 3.85% February 2024 Revolving line of credit Gray Rock SPV LLC 75,000 32,683 — SOFR plus 7.25% April 2025 Total revolving lines of credit 495,000 282,442 203,000 Term loan, net OppFi-LLC 50,000 48,795 48,578 LIBOR plus 10.00% March 2025 Total senior debt $ 545,000 $ 331,237 $ 251,578 Note payable OppFi-LLC $ 168 $ 168 $ — 4.59% December 2022 (1) Maturity date extended indefinitely until borrowing capacity is depleted
Summary of Required Payments for Borrowings, Excluding Secured Borrowing and Revolving Lines of Credit	As of June 30, 2022, required payments for the term loan for each of the next five years are as follows (in thousands): Year Amount Remainder of 2022 $ — 2023 — 2024 — 2025 50,000 2026 — Total $ 50,000

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Share-based Payment Arrangement [Abstract]
Summary of Company's Stock Option, Activity	A summary of the Company’s stock option activity for the six months ended June 30, 2022 is as follows: Number of Common Stock Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding as of December 31, 2021 3,375,000 $ 15.23 — $ — Granted 553,794 3.94 — — Exercised — — — — Forfeited (1,499,822) 14.01 — — Outstanding as of June 30, 2022 2,428,972 $ 13.40 9.28 $ — Exercisable as of June 30, 2022 175,000 $ 15.23 9.06 $ —
Schedule of Valuation Assumptions, Options	The fair value of each option grant during the six months ended June 30, 2022 was estimated on the grant date using the Black-Scholes option pricing model based on the following assumptions: Volatility (high) 60.00 % - 65.00 % Risk-free rate 1.71% - 3.02% Expected term (years) 6.1 years Dividend yield 0.00 %
Summary of Restricted Stock Unit, Activity	A summary of the Company’s restricted stock unit (“RSU”) activity for the six months ended June 30, 2022 is as follows: Shares Weighted Average Grant Date Fair Value Unvested - beginning of period 1,818,530 $ 7.58 Granted 1,532,592 3.48 Vested (27,159) 3.81 Forfeited (944,246) 5.53 Unvested - end of period 2,379,717 $ 5.30
Summary of PSU Activity	A summary of the Company’s performance stock unit (“PSU”) activity for the six months ended June 30, 2022 is as follows: Shares Weighted Average Grant Date Fair Value Unvested - beginning of period 78,907 $ 7.69 Granted 425,264 3.81 Vested — — Forfeited (55,451) 7.69 Unvested - end of period 448,720 $ 4.01
Schedule of Valuation Assumptions, Profit Unit Interests	The compensation expense accounted for all vested units based on the following assumptions: Expected term 3 years Volatility 68.0 % Discount for lack of marketability 45.0 % Risk free rate 0.2 %
Schedule of Profit Unit Interest	A summary of the Company’s profit unit interests activity for the six months ended June 30, 2021 is as follows: Avg Fair Value Units at Grant Date Outstanding at December 31, 2020 12,202,135 $ 0.08 Granted — — Forfeited (54,800) 0.08 Outstanding at March 31, 2021 12,147,335 0.08 Granted — — Forfeited — — Outstanding at June 30, 2021 12,147,335 $ 0.08
Schedule of Non-vested Units	A summary of the Company’s non-vested units activity for the six months ended June 30, 2021 is as follows: Avg Fair Value Units at Grant Date Non-vested units at December 31, 2020 4,738,333 $ 0.12 Granted — — Vested (325,835) 0.15 Forfeited (54,800) 0.08 Non-vested units at March 31, 2021 4,357,698 0.12 Granted — — Vested (2,522,476) 0.07 Forfeited — — Non-vested units at June 30, 2021 1,835,222 $ 0.20

Interest Expense and Amortize_2

Interest Expense and Amortized Debt Issuance Costs (Tables)	6 Months Ended
	Jun. 30, 2022
Interest Expense And Amortized Debt Issuance Costs [Abstract]
Summary of Interest Expense and Amortized Debt Issuance Costs	The following table summarizes interest expense and amortized debt issuance costs for the three and six months ended June 30, 2022 and 2021 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Interest expense $ 7,443 $ 5,743 $ 14,282 $ 9,693 Amortized debt issuance costs 435 642 1,044 1,163 Interest expense and amortized debt issuance costs $ 7,878 $ 6,385 $ 15,326 $ 10,856

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	The Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021 are as follows (in thousands): Carrying Value Fair Value Measurements June 30, 2022 Level 1 Level 2 Level 3 Financial assets: Finance receivables at fair value, excluding accrued interest and fees receivable (1) $ 437,807 $ — $ — $ 437,807 Financial liabilities: Warrant liability - Public Warrants (2) 3,804 3,804 — — Warrant liability - Private Placement Warrants (3) 1,735 — — 1,735 Carrying Value Fair Value Measurements December 31, 2021 Level 1 Level 2 Level 3 Financial assets: Finance receivables at fair value, excluding accrued interest and fees receivable (1) $ 373,253 $ — $ — $ 373,253 Financial liabilities: Warrant liability - Public Warrants (2) 8,083 8,083 — — Warrant liability - Private Placement Warrants (3) 3,157 — — 3,157 During the three and six months ended June 30, 2022 and 2021, there were no transfers of assets or liabilities in or out of Level 3 fair value measurements. (1) The Company primarily estimates the fair value of its installment finance receivables portfolio using discounted cash flow models that have been internally developed. The models use inputs that are unobservable but reflect the Company’s best estimates of the assumptions a market participant would use to calculate fair value. (2) The fair value measurement for the Public Warrants is categorized as Level 1 due to the use of an observable market quote in an active market under the ticker OPFI WS. (3) The fair value of the Private Placement Warrants is measured using a Monte Carlo simulation; accordingly, the fair value measurement for the Private Placement Warrants is categorized as Level 3.
Schedule of Fair Value Measurement Input and Valuation Techniques	The following table presents quantitative information about the significant unobservable inputs used for the Company’s installment finance receivables fair value measurements as of June 30, 2022 and December 31, 2021: June 30, 2022 December 31, 2021 Interest rate on finance receivables 149.90 % 147.60 % Discount rate 24.90 % 21.80 % Servicing cost* 5.00 % 5.00 % Remaining life 0.64 years 0.62 years Default rate* 19.46 % 17.70 % Accrued interest* 3.27 % 3.20 % Prepayment rate* 16.39 % 21.00 % *Stated as a percentage of finance receivables The following table presents the significant assumptions used in the simulation at June 30, 2022 and December 31, 2021, the Closing Date: June 30, 2022 December 31, 2021 Input $11.50 Exercise $15 Exercise $11.50 Exercise $15 Exercise Risk-free interest rate 2.98 % 2.98 % 1.19 % 1.50 % Expected term (years) 4.1 9.1 4.6 9.6 Expected volatility 50.30 % 50.30 % 48.40 % 48.40 % Exercise price $ 11.50 $ 15.00 $ 11.50 $ 15.00 Fair value of warrants $ 0.36 $ 0.90 $ 0.74 $ 1.40
Schedule of Changes in Fair Value of Liabilities	The following table presents the changes in the fair value of the warrant liability - Private Placement Warrants (in thousands): $11.50 Exercise $15 Exercise Total Fair value as of December 31, 2021 $ 1,879 $ 1,278 $ 3,157 Change in fair value (356) (146) (502) Fair value as of March 31, 2022 1,523 1,132 2,655 Change in fair value (609) (311) (920) Fair value as of June 30, 2022 $ 914 $ 821 $ 1,735
Schedule of Carrying Value and Estimated Fair Values of Financial Assets and Liabilities	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 as of June 30, 2022 and December 31, 2021 (in thousands): Carrying Value Fair Value Measurements June 30, 2022 Level 1 Level 2 Level 3 Assets: Cash $ 23,472 $ 23,472 $ — $ — Restricted cash 34,166 34,166 — — Accrued interest and fees receivable 12,896 12,896 — — Finance receivables at amortized cost, net 4,579 — — 4,579 Liabilities: Secured borrowing payable 5,123 — — 5,123 Senior debt, net 331,237 — — 331,237 Carrying Value Fair Value Measurements December 31, 2021 Level 1 Level 2 Level 3 Assets: Cash $ 25,064 $ 25,064 $ — $ — Restricted cash 37,298 37,298 — — Accrued interest and fees receivable 10,637 10,637 — — Finance receivables at amortized cost, net 4,220 — — 4,220 Liabilities: Secured borrowing payable 22,443 — — 22,443 Senior debt, net 251,578 — — 251,578

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share for the three and six months ended June 30, 2022 (in thousands, except share and per share data): Three Months Ended Six Months Ended June 30, 2022 June 30, 2022 Numerator: Net income attributable to OppFi Inc. $ 3,458 $ 4,534 Net income available to Class A common stockholders - Basic 3,458 4,534 Dilutive effect of warrants on net income to Class A common stockholders — — Net income attributable to noncontrolling interest 6,039 4,666 Income tax provision (1,451) (1,120) Net income available to Class A common stockholders - Diluted $ 8,046 $ 8,080 Denominator: Weighted average Class A common stock outstanding - Basic 13,525,101 13,553,308 Effect of dilutive securities: Stock options — — Restricted stock units 125,383 89,519 Performance stock units 18,245 9,123 Warrants — — Employee stock purchase plan — — Units, excluding Earnout Units 70,614,373 70,725,804 Dilutive potential common shares 70,758,001 70,824,446 Weighted average units outstanding - diluted 84,283,102 84,377,754 Earnings per share: Basic EPS $ 0.26 $ 0.33 Diluted EPS $ 0.10 $ 0.10
Schedule of Antidilutive Securities Excluded from Calculation of Earnings Per Share	The following table presents securities that have been excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive for the three and six months ended June 30, 2022: Three Months Ended Six Months Ended June 30, 2022 June 30, 2022 Public Warrants 11,887,500 11,887,500 Private Unit Warrants 231,250 231,250 $11.50 Exercise Price Warrants 2,248,750 2,248,750 $15 Exercise Price Warrants 912,500 912,500 Underwriter Warrants 59,437 59,437 Stock Options 2,428,972 2,278,034 Restricted stock units 1,248,203 1,304,376 Performance stock units 125,564 102,236 Noncontrolling interest - Earnout Units 25,500,000 25,500,000 Potential common stock 44,642,176 44,524,083

Organization and Nature of Op_2

Organization and Nature of Operations (Details) - $ / shares	Jun. 30, 2022	Dec. 31, 2021	Jul. 20, 2021
Class of Stock [Line Items]
Ownership interest held, percent	12.50%
Class A Common Stock
Class of Stock [Line Items]
Common stock, par or stated value per share (in dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001
Class V Voting Stock
Class of Stock [Line Items]
Common stock, par or stated value per share (in dollars per share)	$ 0.0001	$ 0.0001

Significant Accounting Polici_3

Significant Accounting Policies - Additional Information (Detail) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) segment	Jun. 30, 2021 USD ($)	Jan. 01, 2022 USD ($)	Dec. 31, 2021 USD ($)
Accounting Policies [Abstract]
Number of reportable segments | segment			1
Finance receivables originated through the bank partnership arrangements, percentage			94%	84%
Finance receivables originated through the bank partnership arrangements	$ 18,600		$ 18,600			$ 9,500
Accrual period for financing receivables			60 days
Development and capitalized software costs	3,000	$ 3,400	$ 6,800	$ 6,100
Capitalized software costs, amortization expense	3,100	$ 2,200	6,100	$ 4,100
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right of use asset	14,764		14,764
Operating lease liability	17,285		17,285
Decrease in deferred rent	$ (3,405)		$ (3,405)			$ (4,672)
Pro Forma
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right of use asset					$ 15,500
Operating lease liability					18,000
Pro Forma | Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease in deferred rent					$ 2,500
Existing Equity Holders
Schedule Of Reverse Recapitalization [Line Items]
Ownership interest retained	87.50%		87.50%			87.60%

Finance Receivables - Schedule

Finance Receivables - Schedule of Components of Installment Finance Receivables At Fair Value (Details) - USD ($) $ in Thousands		Jun. 30, 2022	Dec. 31, 2021
Receivables [Abstract]
Unpaid principal balance of finance receivables - accrual		$ 362,734	$ 307,059
Unpaid principal balance of finance receivables - non-accrual		31,975	25,185
Unpaid principal balance of finance receivables		394,709	332,244
Finance receivables at fair value - accrual		432,866	369,576
Finance receivables at fair value - non-accrual		4,941	3,677
Finance receivables at fair value, excluding accrued interest and fees receivable		437,807	373,253
Accrued interest and fees receivable		12,896	10,637
Finance receivables at fair value	[1]	450,703	383,890
Difference between unpaid principal balance and fair value		$ 43,098	$ 41,009
[1](1) Includes amounts in consolidated variable interest entities ("VIEs") presented separately in the table below.

Finance Receivables - Additiona

Finance Receivables - Additional Information (Detail) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2022	Dec. 31, 2021
Accrual period for financing receivables		60 days
Aggregate unpaid principal balance		$ 394,709	$ 332,244
Fair value of receivables	[1]	450,703	383,890
Finance receivables in non-accrual status		$ 1,200	100
Recency delinquency
Accrual period for financing receivables		60 days
Contractual delinquency
Accrual period for financing receivables		90 days
90+ days
Aggregate unpaid principal balance		$ 14,300	10,500
Fair value of receivables		$ 2,200	$ 1,500
[1](1) Includes amounts in consolidated variable interest entities ("VIEs") presented separately in the table below.

Finance Receivables - Changes i

Finance Receivables - Changes in Fair Value of Finance Installment Receivables (Details) - Financing Receivable - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at the beginning of the period	$ 381,845	$ 269,782	$ 383,890	$ 289,166
Originations of principal	211,370	39,576	365,391	145,410
Repayments of principal and recoveries	(102,581)	0	(209,158)	(104,195)
Accrued interest and fees receivable	2,223	146	2,259	1,512
Charge-offs, net	(46,599)	(17,322)	(93,770)	(37,155)
Adjustment to fair value	0	(1,817)	0	0
Net change in fair value	4,445	6,016	2,091	3,460
Balance at the end of the period	$ 450,703	$ 296,381	$ 450,703	$ 296,381

Finance Receivables - Schedul_2

Finance Receivables - Schedule of Finance Receivables (Detail) - USD ($) $ in Thousands		Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Finance receivables		$ 5,746		$ 5,285
Accrued interest and fees		17		24
Unearned annual fee income		(139)		(286)
Allowance for credit losses		(1,045)	$ (931)	(803)	$ (11)	$ (7)	$ (55,031)
Finance receivables at amortized cost, net	[1]	$ 4,579		$ 4,220
[1](1) Includes amounts in consolidated variable interest entities ("VIEs") presented separately in the table below.

Finance Receivables - Summary o

Finance Receivables - Summary of Changes in Allowance for Credit Losses on Finance Receivables (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 931	$ 7	$ 803	$ 55,031
Effects of adopting fair value option	0	0	0	(55,031)
Provisions for credit losses on finance receivables	569	31	1,026	38
Finance receivables charged off	(455)	(27)	(784)	(27)
Ending balance	$ 1,045	$ 11	$ 1,045	$ 11

Finance Receivables - Summary_2

Finance Receivables - Summary of Credit Quality Finance Receivable Portfolio (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Recency delinquency
Financing Receivable, Past Due [Line Items]
Finance receivables	$ 5,746	$ 5,285
Recency delinquency | Current
Financing Receivable, Past Due [Line Items]
Finance receivables	4,230	5,016
Recency delinquency | Total delinquency
Financing Receivable, Past Due [Line Items]
Finance receivables	1,516	269
Recency delinquency | 30-59 days
Financing Receivable, Past Due [Line Items]
Finance receivables	374	152
Recency delinquency | 60-89 days
Financing Receivable, Past Due [Line Items]
Finance receivables	392	102
Recency delinquency | 90+ days
Financing Receivable, Past Due [Line Items]
Finance receivables	750	15
Contractual delinquency
Financing Receivable, Past Due [Line Items]
Finance receivables	5,746	5,285
Contractual delinquency | Current
Financing Receivable, Past Due [Line Items]
Finance receivables	4,170	4,993
Contractual delinquency | Total delinquency
Financing Receivable, Past Due [Line Items]
Finance receivables	1,576	292
Contractual delinquency | 30-59 days
Financing Receivable, Past Due [Line Items]
Finance receivables	359	171
Contractual delinquency | 60-89 days
Financing Receivable, Past Due [Line Items]
Finance receivables	403	104
Contractual delinquency | 90+ days
Financing Receivable, Past Due [Line Items]
Finance receivables	$ 814	$ 17

Property, Equipment and Softw_3

Property, Equipment and Software, Net - Schedule of Property, Equipment and Software (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, equipment and software	$ 46,264	$ 39,357
Less accumulated depreciation and amortization	(31,315)	(24,714)
Property, equipment and software, net	14,949	14,643
Capitalized technology
Property, Plant and Equipment [Line Items]
Property, equipment and software	41,371	34,586
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Property, equipment and software	3,914	3,792
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, equipment and software	$ 979	$ 979

Property, Equipment and Softw_4

Property, Equipment and Software, Net - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 3.4	$ 2.4	$ 6.6	$ 4.6

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands		Jun. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrual for services rendered and goods purchased		$ 8,532	$ 10,631
Accrued payroll and benefits		7,418	11,779
Deferred rent		0	2,513
Other		3,405	4,672
Total	[1]	$ 19,355	$ 29,595
[1](1) Includes amounts in consolidated variable interest entities ("VIEs") presented separately in the table below.

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Operating lease cost	$ 1,100		$ 2,100
Variable lease payment	500		1,000
Operating cash flows for operating leases included in operating activities	$ 562		$ 1,124
Rent expense		$ 900		$ 1,800

Leases - Maturities of Operatin

Leases - Maturities of Operating Lease Liabilities (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Leases [Abstract]
Remainder of 2022	$ 1,147
2023	2,339
2024	2,410
2025	2,482
2026	2,557
2027	2,633
Thereafter	7,650
Total lease payments	21,218
Less: imputed interest	(3,933)
Operating lease liability	$ 17,285

Leases - Schedule of Weighted A

Leases - Schedule of Weighted Average Lease Term/Discount and Supplemental Cash Flow Information Related to Leases (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)
Leases [Abstract]
Weighted average remaining lease term (in years)	8 years 3 months 18 days	8 years 3 months 18 days
Weighted average discount rate	5%	5%
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases included in operating activities	$ 562	$ 1,124

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments (Detail) $ in Thousands	Dec. 31, 2021 USD ($)
Leases [Abstract]
2022	$ 2,271
2023	2,339
2024	2,410
2025	2,482
2026	2,557
Thereafter	10,283
Total	$ 22,342

Borrowings - Schedule of Borrow

Borrowings - Schedule of Borrowings (Detail) - USD ($) $ in Thousands		6 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Jun. 14, 2022	Apr. 15, 2022	Dec. 31, 2021
Term loan, net
Debt Instrument [Line Items]
Total		$ 50,000
Secured borrowing payable
Debt Instrument [Line Items]
Borrower		Opportunity Funding SPE II, LLC
Borrowing Capacity		$ 5,123
Total		$ 5,123			$ 22,443
Interest rate		15%
Senior debt
Debt Instrument [Line Items]
Borrowing Capacity		$ 545,000
Total		331,237			251,578
Senior debt | Revolving Credit Facility
Debt Instrument [Line Items]
Borrowing Capacity		495,000
Total		$ 282,442			203,000
Senior debt | Revolving Line Of Credit, Maturing January 2024, Opportunity Funding SPE III, LLC
Debt Instrument [Line Items]
Borrower		Opportunity Funding SPE III, LLC
Borrowing Capacity		$ 175,000
Total		$ 134,759			119,000
Maturity Date		January 2024
Senior debt | Revolving Line Of Credit, Tranche A, Maturing June 2025, Opportunity Funding SPE V, LLC; Opportunity Funding SPE VII, LLC
Debt Instrument [Line Items]
Borrower		Opportunity Funding SPE V, LLC; Opportunity Funding SPE VII, LLC (Tranche A)
Borrowing Capacity		$ 75,000	$ 75,000
Total		$ 37,500			45,900
Maturity Date		June 2025
Senior debt | Revolving Line Of Credit, Tranche B, Maturing June 2025, Opportunity Funding SPE V, LLC; Opportunity Funding SPE VII, LLC
Debt Instrument [Line Items]
Borrower		Opportunity Funding SPE V, LLC; Opportunity Funding SPE VII, LLC (Tranche B)
Borrowing Capacity		$ 125,000	$ 125,000
Total		$ 70,000			0
Maturity Date		June 2025
Senior debt | Revolving Line Of Credit, Maturing April 2023, Opportunity Funding SPE VI, LLC
Debt Instrument [Line Items]
Borrower		Opportunity Funding SPE VI, LLC
Borrowing Capacity		$ 0
Total		$ 0			30,600
Maturity Date		April 2023
Senior debt | Revolving Line Of Credit, Maturing February 2024, Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC
Debt Instrument [Line Items]
Borrower		Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC
Borrowing Capacity		$ 45,000
Total		$ 7,500			7,500
Maturity Date		February 2024
Senior debt | Revolving Line Of Credit, Maturing April 2025, Gray Rock SPV, LLC
Debt Instrument [Line Items]
Borrower		Gray Rock SPV LLC
Borrowing Capacity		$ 75,000		$ 75,000
Total		$ 32,683			0
Maturity Date		April 2025
Senior debt | Term loan, net
Debt Instrument [Line Items]
Borrower		OppFi-LLC
Borrowing Capacity		$ 50,000
Total		$ 48,795			48,578
Maturity Date		March 2025
Note payable
Debt Instrument [Line Items]
Borrower		OppFi-LLC
Borrowing Capacity		$ 168
Total		$ 168			$ 0
Interest rate		4.59%
Maturity Date		December 2022
London Interbank Offered Rate (LIBOR) | Senior debt | Revolving Line Of Credit, Maturing January 2024, Opportunity Funding SPE III, LLC
Debt Instrument [Line Items]
Basis spread on variable rate		6%
London Interbank Offered Rate (LIBOR) | Senior debt | Revolving Line Of Credit, Tranche A, Maturing June 2025, Opportunity Funding SPE V, LLC; Opportunity Funding SPE VII, LLC
Debt Instrument [Line Items]
Basis spread on variable rate		7.25%
London Interbank Offered Rate (LIBOR) | Senior debt | Revolving Line Of Credit, Maturing April 2023, Opportunity Funding SPE VI, LLC
Debt Instrument [Line Items]
Basis spread on variable rate		7.25%
London Interbank Offered Rate (LIBOR) | Senior debt | Revolving Line Of Credit, Maturing February 2024, Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC
Debt Instrument [Line Items]
Basis spread on variable rate	3.85%	3.85%
London Interbank Offered Rate (LIBOR) | Senior debt | Term loan, net
Debt Instrument [Line Items]
Basis spread on variable rate		10%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Senior debt | Revolving Line Of Credit, Tranche B, Maturing June 2025, Opportunity Funding SPE V, LLC; Opportunity Funding SPE VII, LLC
Debt Instrument [Line Items]
Basis spread on variable rate		6.75%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Senior debt | Revolving Line Of Credit, Maturing February 2024, Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC
Debt Instrument [Line Items]
Basis spread on variable rate	0.11%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Senior debt | Revolving Line Of Credit, Maturing April 2025, Gray Rock SPV, LLC
Debt Instrument [Line Items]
Basis spread on variable rate		7.25%

Borrowings - Additional Informa

Borrowings - Additional Information (Detail) - USD ($)				1 Months Ended	3 Months Ended		6 Months Ended
		Jun. 14, 2022	Mar. 31, 2022	Mar. 31, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 13, 2022	Apr. 15, 2022	Dec. 31, 2021	Mar. 29, 2021
Short-term Debt [Line Items]
Secured debt	[1]				$ 5,123,000		$ 5,123,000				$ 22,443,000
Interest expense					7,443,000	$ 5,743,000	14,282,000	$ 9,693,000
Amortized debt issuance costs					435,000	642,000	1,044,000	1,163,000
Debt issuance costs, net	[1]				2,328,000		2,328,000				1,525,000
Interest expense paid							14,196,000	10,002,000
Interest expense paid to related party					0	0	0	137,000
Secured borrowing payable
Short-term Debt [Line Items]
Finance receivable purchased					165,000,000		165,000,000				148,900,000
Secured debt					5,100,000		5,100,000				22,400,000
Interest expense					400,000	500,000	1,200,000	1,400,000
Capitalized issuance costs							200,000
Amortized debt issuance costs					0	13,000	0	25,000
Debt issuance costs, net					0		0				0
Borrowing Capacity					5,123,000		5,123,000
Senior debt
Short-term Debt [Line Items]
Borrowing Capacity					545,000,000		545,000,000
Senior debt | Revolving Line Of Credit, Maturing February 2022, OppFi-LLC
Short-term Debt [Line Items]
Capitalized issuance costs								300,000
Amortized debt issuance costs								21,000
Interest expense paid								35,000
Senior debt | Revolving Line Of Credit, Maturing January 2024, Opportunity Funding SPE III, LLC
Short-term Debt [Line Items]
Interest expense					2,600,000	1,900,000	5,100,000	3,200,000
Capitalized issuance costs							2,100,000
Amortized debt issuance costs					200,000	200,000	400,000	400,000
Debt issuance costs, net					600,000		600,000				800,000
Borrowing Capacity					175,000,000		175,000,000
Senior debt | Revolving Line Of Credit, Maturing June 2025, Opportunity Funding SPE V, LLC; Opportunity Funding SPE VII, LLC
Short-term Debt [Line Items]
Interest expense					1,500,000	1,000,000	2,600,000	1,600,000
Capitalized issuance costs							1,500,000
Amortized debt issuance costs					100,000	100,000	300,000	200,000
Debt issuance costs, net					200,000		200,000				400,000
Borrowing Capacity		$ 200,000,000							$ 75,000,000
Term of extension		3 years
Senior debt | Revolving Line Of Credit, Tranche A, Maturing June 2025, Opportunity Funding SPE V, LLC; Opportunity Funding SPE VII, LLC
Short-term Debt [Line Items]
Borrowing Capacity		$ 75,000,000			75,000,000		75,000,000
Senior debt | Revolving Line Of Credit, Tranche B, Maturing June 2025, Opportunity Funding SPE V, LLC; Opportunity Funding SPE VII, LLC
Short-term Debt [Line Items]
Borrowing Capacity		$ 125,000,000			125,000,000		125,000,000
Senior debt | Revolving Line Of Credit, Maturing April 2023, Opportunity Funding SPE VI, LLC
Short-term Debt [Line Items]
Interest expense					800,000	600,000	1,600,000	1,000,000
Capitalized issuance costs							900,000
Amortized debt issuance costs					14,200	100,000	100,000	200,000
Debt issuance costs, net					14,000		14,000				100,000
Borrowing Capacity					0		0
Senior debt | Revolving Line Of Credit, Maturing February 2024, Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC
Short-term Debt [Line Items]
Interest expense					100,000	100,000	200,000	200,000
Capitalized issuance costs							900,000
Amortized debt issuance costs					100,000	200,000	100,000	200,000
Debt issuance costs, net					300,000		300,000				300,000
Borrowing Capacity					45,000,000		45,000,000
Senior debt | Revolving Line Of Credit, Maturing April 2025, Gray Rock SPV, LLC
Short-term Debt [Line Items]
Interest expense					400,000		400,000
Borrowing Capacity					75,000,000		75,000,000			$ 75,000,000
Senior debt | Term loan, net
Short-term Debt [Line Items]
Interest expense					1,500,000	1,600,000	3,000,000	2,300,000
Capitalized issuance costs							2,300,000
Amortized debt issuance costs					100,000	100,000	200,000	200,000
Debt issuance costs, net					1,300,000		1,300,000				$ 1,400,000
Borrowing Capacity					50,000,000		50,000,000
Principal amount of debt					50,000,000		$ 50,000,000
Senior debt | London Interbank Offered Rate (LIBOR) | Revolving Line Of Credit, Maturing January 2024, Opportunity Funding SPE III, LLC
Short-term Debt [Line Items]
Basis spread on variable rate							6%
Senior debt | London Interbank Offered Rate (LIBOR) | Revolving Line Of Credit, Tranche A, Maturing June 2025, Opportunity Funding SPE V, LLC; Opportunity Funding SPE VII, LLC
Short-term Debt [Line Items]
Basis spread on variable rate							7.25%
Senior debt | London Interbank Offered Rate (LIBOR) | Revolving Line Of Credit, Maturing April 2023, Opportunity Funding SPE VI, LLC
Short-term Debt [Line Items]
Basis spread on variable rate							7.25%
Senior debt | London Interbank Offered Rate (LIBOR) | Revolving Line Of Credit, Maturing February 2024, Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC
Short-term Debt [Line Items]
Basis spread on variable rate			3.85%				3.85%
Senior debt | London Interbank Offered Rate (LIBOR) | Term loan, net
Short-term Debt [Line Items]
Basis spread on variable rate							10%
Senior debt | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Revolving Line Of Credit, Tranche B, Maturing June 2025, Opportunity Funding SPE V, LLC; Opportunity Funding SPE VII, LLC
Short-term Debt [Line Items]
Basis spread on variable rate							6.75%
Senior debt | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Revolving Line Of Credit, Maturing February 2024, Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC
Short-term Debt [Line Items]
Basis spread on variable rate			0.11%
Senior debt | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Revolving Line Of Credit, Maturing April 2025, Gray Rock SPV, LLC
Short-term Debt [Line Items]
Basis spread on variable rate							7.25%
Subordinated debt
Short-term Debt [Line Items]
Borrowing Capacity												$ 4,000,000
Interest expense paid to related party						$ 100,000		$ 100,000
Note payable
Short-term Debt [Line Items]
Interest expense					1,900		$ 1,900
Borrowing Capacity					$ 168,000		$ 168,000
Financing of insurance premiums				$ 300,000
Monthly installments				$ 28,000
[1](1) Includes amounts in consolidated variable interest entities ("VIEs") presented separately in the table below.

Borrowings - Summary of Require

Borrowings - Summary of Required Payments for Borrowings, Excluding Secured Borrowing and Revolving Lines of Credit (Detail) - Term loan, net $ in Thousands	Jun. 30, 2022 USD ($)
Debt Instrument [Line Items]
Remainder of 2022	$ 0
2023	0
2024	0
2025	50,000
2026	0
Total	$ 50,000

Warrant Liabilities - Additiona

Warrant Liabilities - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Class of Warrant or Right [Line Items]
Warrant liabilities	$ 5,539		$ 5,539		$ 11,240
Change in fair value of warrant liabilities	$ 3,297	$ 0	$ 5,701	$ 0
Public Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	11,887,500		11,887,500
Change in fair value of warrant liabilities	$ (2,400)		$ (4,300)
Private Unit Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	3,451,937		3,451,937
Change in fair value of warrant liabilities	$ (900)		$ (1,400)

Stockholders_ Equity - Addition

Stockholders’ Equity - Additional information (Details) - Class A Common Stock - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Jan. 06, 2022
Class of Stock [Line Items]
Stock repurchase program, authorized amount			$ 20,000,000
Repurchase and retirement of common stock (in shares)	333,318	615,652
Average purchase price (in dollars per share)	$ 3.31	$ 3.48
Repurchase of common stock	$ 1,100,000	$ 2,100,000
Remaining authorized repurchase amount	$ 17,900,000	$ 17,900,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($)				3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021	Jul. 20, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation not yet recognized related to unvested options	$ 3,200,000	$ 6,100,000		$ 3,200,000		$ 3,200,000		$ 6,100,000
Weighted-average grant date fair value of stock options (in dollars per share)						$ 2.33
ESPP employee payroll contributions	$ 100,000			100,000		$ 100,000
ESPP compensation expense				33,900		33,900
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense				300,000		$ 100,000
Unvested award, cost not yet recognized, period for recognition						3 years 2 months 12 days		3 years 6 months
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense				$ 700,000		$ 1,500,000
Vested in period, not settled (in shares)	25,671			25,671		25,671
Unrecognized compensation expense	$ 9,900,000	12,200,000		$ 9,900,000		$ 9,900,000		$ 12,200,000
Award vesting period						3 years 6 months		3 years 7 months 6 days
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense				(37,600)		$ 40,800
Unvested award, cost not yet recognized, period for recognition						3 years 9 months 18 days		3 years 9 months
Unrecognized compensation expense	1,600,000	500,000		1,600,000		$ 1,600,000		$ 500,000
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum eligible employee compensation contribution percentage			10%
Fair market value share purchase percentage			85%
Profit Unit Interest
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense					$ 200,000		$ 200,000
Unrecognized compensation expense	$ 0	$ 0		$ 0		$ 0		$ 0
Class A Common Stock | Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance (in shares)	1,200,000			1,200,000		1,200,000
Percentage of outstanding stock maximum						1%
Outstanding stock maximum (in shares)						2,400,000
Shares purchased under the ESPP (in shares)	0	0
Class A Common Stock | Equity Incentive Plan 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance (in shares)	11,772,630			11,772,630		11,772,630

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Number of Common Stock Options
Outstanding beginning balance (in shares)	3,375,000
Granted (in shares)	553,794
Exercised (in shares)	0
Forfeited (in shares)	(1,499,822)
Outstanding ending balance (in shares)	2,428,972
Vested and exercisable (in shares)	175,000
Weighted Average Exercise Price
Outstanding beginning balance (in dollars per share)	$ 15.23
Granted (in dollars per share)	3.94
Exercised (in dollars per share)	0
Forfeited (in dollars per share)	14.01
Outstanding ending balance (in dollars per share)	13.40
Vested and exercisable (in dollars per share)	$ 15.23
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted Average Remaining Contractual Life (Years)	9 years 3 months 10 days
Vested and exercisable, Weighted-Average Remaining Contractual Life (Years)	9 years 21 days
Aggregate Intrinsic Value	$ 0	$ 0
Vested and exercisable, Aggregate Intrinsic Value	$ 0

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Valuation Assumptions, Options (Details)	6 Months Ended
	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility, minimum	60%
Volatility, maximum	65%
Risk-free rate, minimum	1.71%
Risk-free rate, maximum	302%
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	6 years 1 month 6 days
Dividend yield	0%

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs)	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Shares
Outstanding beginning balance (in shares) | shares	1,818,530
Granted (in shares) | shares	1,532,592
Vested (in shares) | shares	(27,159)
Forfeited (in shares) | shares	(944,246)
Outstanding ending balance (in shares) | shares	2,379,717
Weighted Average Grant Date Fair Value
Outstanding beginning balance (in dollars per share) | $ / shares	$ 7.58
Granted (in dollars per share) | $ / shares	3.48
Vested (in dollars per share) | $ / shares	3.81
Forfeited (in dollars per share) | $ / shares	5.53
Outstanding ending balance (in dollars per share) | $ / shares	$ 5.30

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of PSU Activity (Details) - Performance stock units	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Shares
Outstanding beginning balance (in shares) | shares	78,907
Granted (in shares) | shares	425,264
Vested (in shares) | shares	0
Forfeited (in shares) | shares	(55,451)
Outstanding ending balance (in shares) | shares	448,720
Weighted Average Grant Date Fair Value
Outstanding beginning balance (in dollars per share) | $ / shares	$ 7.69
Granted (in dollars per share) | $ / shares	3.81
Vested (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	7.69
Outstanding ending balance (in dollars per share) | $ / shares	$ 4.01

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Valuation Assumptions, Profit Unit Interests (Detail) - Profit Unit Interest	6 Months Ended
	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	3 years
Volatility (high)	68%
Discount for lack of marketability	45%
Risk-free rate	0.20%

Stock-Based Compensation - Sc_3

Stock-Based Compensation - Schedule of Profit Unit Interest (Detail) - Profit Unit Interest - $ / shares	3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021
Units
Outstanding beginning balance (in shares)	12,147,335	12,202,135
Granted (in shares)	0	0
Forfeited (in shares)	0	(54,800)
Outstanding ending balance (in shares)	12,147,335	12,147,335
Avg Fair Value at Grant Date
Outstanding beginning balance (in dollars per share)	$ 0.08	$ 0.08
Granted (in dollars per share)	0	0
Forfeited (in dollars per share)	0	0.08
Outstanding ending balance (in dollars per share)	$ 0.08	$ 0.08

Stock-Based Compensation - Sc_4

Stock-Based Compensation - Schedule of Non-vested Units (Detail) - Non-vested Units - $ / shares	3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021
Units
Outstanding beginning balance (in shares)	4,357,698	4,738,333
Granted (in shares)	0	0
Vested (in shares)	(2,522,476)	(325,835)
Forfeited (in shares)	0	(54,800)
Outstanding ending balance (in shares)	1,835,222	4,357,698
Avg Fair Value at Grant Date
Outstanding beginning balance (in dollars per share)	$ 0.12	$ 0.12
Granted (in dollars per share)	0	0
Vested (in dollars per share)	0.07	0.15
Forfeited (in dollars per share)	0	0.08
Outstanding ending balance (in dollars per share)	$ 0.20	$ 0.12

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Income Tax Examination [Line Items]
Provision for income taxes	$ 202,000	$ 0	$ 742,000	$ 0
Income before income taxes	$ 9,699,000	$ 17,987,000	$ 9,942,000	$ 42,371,000
Effective income tax rate, percent	2.10%	3%	7.50%	3%
Statutory income tax rate, percent			21%
Effective income tax rate, stock compensation adjustment, amount			$ 500,000
Effective income tax rate, stock compensation adjustment, percent			5.40%
Effective income tax rate, excluding tax expense, stock compensation adjustment, percent			2.10%
Ownership interest held, percent	12.50%		12.50%
Unrecognized tax benefits	$ 0		$ 0		$ 0
Income tax examination, penalties and interest accrued	$ 0		$ 0		$ 0
Pro Forma
Income Tax Examination [Line Items]
Provision for income taxes		$ 541,000		$ 1,228,000

Interest Expense and Amortize_3

Interest Expense and Amortized Debt Issuance Costs - Summary of Interest Expense And Amortized Debt Issuance Costs (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Interest Expense And Amortized Debt Issuance Costs [Abstract]
Interest expense	$ 7,443	$ 5,743	$ 14,282	$ 9,693
Amortized debt issuance costs	435	642	1,044	1,163
Interest expense and amortized debt issuance costs	$ 7,878	$ 6,385	$ 15,326	$ 10,856

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Assets and Liabilities that are Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Financial assets:
Finance receivables at fair value, excluding accrued interest and fees receivable	$ 437,807	$ 373,253
Financial liabilities:
Warrant liabilities	5,539	11,240
Fair Value, Recurring | Carrying Value
Financial assets:
Finance receivables at fair value, excluding accrued interest and fees receivable	437,807	373,253
Fair Value, Recurring | Carrying Value | Public Warrants
Financial liabilities:
Warrant liabilities	3,804	8,083
Fair Value, Recurring | Carrying Value | Private Placement Warrants
Financial liabilities:
Warrant liabilities	1,735	3,157
Fair Value, Recurring | Fair Value Measurements | Level 1
Financial assets:
Finance receivables at fair value, excluding accrued interest and fees receivable	0	0
Fair Value, Recurring | Fair Value Measurements | Level 1 | Public Warrants
Financial liabilities:
Warrant liabilities	3,804	8,083
Fair Value, Recurring | Fair Value Measurements | Level 1 | Private Placement Warrants
Financial liabilities:
Warrant liabilities	0	0
Fair Value, Recurring | Fair Value Measurements | Level 2
Financial assets:
Finance receivables at fair value, excluding accrued interest and fees receivable	0	0
Fair Value, Recurring | Fair Value Measurements | Level 2 | Public Warrants
Financial liabilities:
Warrant liabilities	0	0
Fair Value, Recurring | Fair Value Measurements | Level 2 | Private Placement Warrants
Financial liabilities:
Warrant liabilities	0	0
Fair Value, Recurring | Fair Value Measurements | Level 3
Financial assets:
Finance receivables at fair value, excluding accrued interest and fees receivable	437,807	373,253
Fair Value, Recurring | Fair Value Measurements | Level 3 | Public Warrants
Financial liabilities:
Warrant liabilities	0	0
Fair Value, Recurring | Fair Value Measurements | Level 3 | Private Placement Warrants
Financial liabilities:
Warrant liabilities	$ 1,735	$ 3,157

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Fair Value Measurement Input and Valuation Techniques of Installment Financing Receivables (Detail)	Jun. 30, 2022	Dec. 31, 2021
Interest rate on finance receivables
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	1.4990	1.4760
Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.2490	0.2180
Servicing cost
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.0500	0.0500
Remaining life
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.64	0.62
Default rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.1946	0.1770
Accrued interest
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.0327	0.0320
Prepayment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.1639	0.2100

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Fair Value Measurement Input and Valuation Techniques of Private Placement Warrants (Detail) - Level 3 - Warrants	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
$11.50 Exercise Price Warrants | Risk-free interest rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	0.0298	0.0119
$11.50 Exercise Price Warrants | Expected term (years)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	4,100	4,600
$11.50 Exercise Price Warrants | Expected volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	0.5030	0.4840
$11.50 Exercise Price Warrants | Exercise price
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	11.50	11.50
$11.50 Exercise Price Warrants | Fair value of warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	0.36	0.74
$15 Exercise Price Warrants | Risk-free interest rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	0.0298	0.0150
$15 Exercise Price Warrants | Expected term (years)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	9,100	9,600
$15 Exercise Price Warrants | Expected volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	0.5030	0.4840
$15 Exercise Price Warrants | Exercise price
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	15	15
$15 Exercise Price Warrants | Fair value of warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	0.90	1.40

Fair Value Measurements - Sch_4

Fair Value Measurements - Schedule of Changes in Fair Value of Private Placement Warrants (Detail) - Level 3 - Warrants - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022
Private Placement Warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 2,655	$ 3,157
Change in fair value	(920)	(502)
Ending Balance	1,735	2,655
$11.50 Exercise Price Warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	1,523	1,879
Change in fair value	(609)	(356)
Ending Balance	914	1,523
$15 Exercise Price Warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	1,132	1,278
Change in fair value	(311)	(146)
Ending Balance	$ 821	$ 1,132

Fair Value Measurements - Sch_5

Fair Value Measurements - Schedule of Carrying Value and Estimated Fair Values of Financial Assets and Liabilities (Detail) - USD ($) $ in Thousands		Jun. 30, 2022	Dec. 31, 2021
Assets
Cash	[1]	$ 23,472	$ 25,064
Restricted cash	[1]	34,166	37,298
Accrued interest and fees receivable		12,896	10,637
Finance receivables at amortized cost, net	[1]	4,579	4,220
Liabilities:
Secured debt	[1]	5,123	22,443
Senior debt, net	[1]	331,237	251,578
Level 1
Assets
Cash		23,472	25,064
Restricted cash		34,166	37,298
Accrued interest and fees receivable		12,896	10,637
Finance receivables at amortized cost, net		0	0
Liabilities:
Secured debt		0	0
Senior debt, net		0	0
Level 2
Assets
Cash		0	0
Restricted cash		0	0
Accrued interest and fees receivable		0	0
Finance receivables at amortized cost, net		0	0
Liabilities:
Secured debt		0	0
Senior debt, net		0	0
Level 3
Assets
Cash		0	0
Restricted cash		0	0
Accrued interest and fees receivable		0	0
Finance receivables at amortized cost, net		4,579	4,220
Liabilities:
Secured debt		5,123	22,443
Senior debt, net		$ 331,237	$ 251,578
[1](1) Includes amounts in consolidated variable interest entities ("VIEs") presented separately in the table below.

Commitments, Contingencies an_2

Commitments, Contingencies and Related Party Transactions - Additional Information (Detail) - USD ($)		3 Months Ended		6 Months Ended
	Nov. 18, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Mar. 29, 2021
Loss Contingencies [Line Items]
Litigation settlement, amount awarded to other party	$ 300,000
Unpaid settlement funds						$ 1,500,000
Interest expense - related party		$ 0	$ 0	$ 0	$ 137,000
Management fees		0	175,000	0	350,000
Severance costs		$ 500,000	100,000	$ 2,000,000	400,000
Subordinated debt
Loss Contingencies [Line Items]
Debt agreement, maximum available amount							$ 4,000,000
Interest expense - related party			$ 100,000		$ 100,000

Concentration of Credit Risk -

Concentration of Credit Risk - Additional Information (Detail) - Financing Receivable - Geographic Concentration Risk	Jun. 30, 2022	Dec. 31, 2021
Texas
Concentration Risk [Line Items]
Concentration risk, Percentage	13%	14%
Florida
Concentration Risk [Line Items]
Concentration risk, Percentage	13%	14%
California
Concentration Risk [Line Items]
Concentration risk, Percentage	12%	11%

Retirement Plan - Additional In

Retirement Plan - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Retirement Benefits [Abstract]
Employer matching contribution, percent of match			4%
Salaries and employee benefits	$ 0.4	$ 0.4	$ 0.8	$ 0.7

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Numerator:
Net income attributable to OppFi Inc.	$ 3,458	$ 4,534
Net income available to Class A common stockholders - Basic	3,458	4,534
Dilutive effect of warrants on net income to Class A common stockholders	0	0
Net income attributable to noncontrolling interest	6,039	4,666
Provision for income taxes	(1,451)	(1,120)
Net income available to Class A common stockholders - Diluted	$ 8,046	$ 8,080
Denominator:
Weighted average Class A common stock outstanding - Basic (in shares)	13,525,101	13,553,308
Effect of dilutive securities:
Dilutive common unit equivalents (in shares)	70,758,001	70,824,446
Weighted average units outstanding - diluted (in shares)	84,283,102	84,377,754
Basic EPS (in dollars per share)	$ 0.26	$ 0.33
Diluted EPS (in dollars per share)	$ 0.10	$ 0.10
Stock Options
Effect of dilutive securities:
Dilutive securities (in shares)	0	0
Restricted Stock Units (RSUs)
Effect of dilutive securities:
Dilutive securities (in shares)	125,383	89,519
Performance stock units
Effect of dilutive securities:
Dilutive securities (in shares)	18,245	9,123
Warrants
Effect of dilutive securities:
Warrants (in shares)	0	0
Employee Stock
Effect of dilutive securities:
Dilutive securities (in shares)	0	0
Units, Excluding Earnout Units
Effect of dilutive securities:
Dilutive securities (in shares)	70,614,373	70,725,804

Earnings Per Share - Schedule_2

Earnings Per Share - Schedule of Securities Excluded from Calculation of Diluted Earnings Per Share (Details) - shares	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	44,642,176	44,524,083
Warrants | Public Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	11,887,500	11,887,500
Warrants | Private Unit Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	231,250	231,250
Warrants | $11.50 Exercise Price Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	2,248,750	2,248,750
Warrants | $15 Exercise Price Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	912,500	912,500
Warrants | Underwriter Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	59,437	59,437
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	2,428,972	2,278,034
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	1,248,203	1,304,376
Performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	125,564	102,236
Noncontrolling Interest, Earnout Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	25,500,000	25,500,000