OppFi (OPFI) 10-Q 11 May 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2023	May 09, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
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	Non-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		109,787,970
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
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		15,251,283
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		94,536,687

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
Assets
Cash	[1]	$ 32,185	$ 16,239
Restricted cash	[1]	39,189	33,431
Total cash and restricted cash		71,374	49,670
Finance receivables at fair value	[1]	417,489	457,296
Finance receivables at amortized cost, net of allowance for credit losses of $47 and $96 as of March 31, 2023 and December 31, 2022, respectively	[1]	464	643
Settlement receivable	[1]	2,843	2,000
Assets held for sale		478	550
Debt issuance costs, net	[1]	3,675	4,049
Property, equipment and software, net		12,763	14,039
Operating lease right of use asset		13,226	13,587
Deferred tax asset		26,644	26,758
Other assets	[1]	11,089	11,247
Total assets		560,045	579,839
Liabilities:
Accounts payable	[1]	3,711	6,338
Accrued expenses	[1]	16,871	23,220
Operating lease liability		16,182	16,558
Secured borrowing payable	[1]	0	756
Senior debt, net	[1]	330,744	344,688
Notes payable		808	1,616
Warrant liabilities		1,735	1,888
Tax receivable agreement liability		25,871	25,625
Total liabilities		395,922	420,689
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 March 31, 2023 and December 31, 2022)		0	0
Additional paid-in capital		67,179	65,501
Accumulated deficit		(63,292)	(63,546)
Treasury stock at cost, 703,914 shares as of March 31, 2023 and December 31, 2022		(2,460)	(2,460)
Total OppFi Inc.'s stockholders' equity (deficit)		1,438	(494)
Noncontrolling interest		162,685	159,644
Total stockholders' equity		164,123	159,150
Total liabilities and stockholders' equity		560,045	579,839
Variable Interest Entity, Primary Beneficiary
Assets
Cash		1	0
Restricted cash		30,321	24,577
Total cash and restricted cash		30,322	24,577
Finance receivables at fair value		407,808	417,476
Settlement receivable		2,843	2,000
Debt issuance costs, net		3,675	4,049
Other assets		68	108
Total assets		444,716	448,210
Liabilities:
Accounts payable		13	109
Accrued expenses		3,412	3,428
Secured borrowing payable		0	756
Senior debt, net		281,618	295,734
Total liabilities		285,043	300,027
Class A Common Stock
Stockholders' equity:
Common stock, value, issued		2	2
Class B Common Stock
Stockholders' equity:
Common stock, value, issued		0	0
Class V Voting Stock
Stockholders' equity:
Common stock, value, issued		$ 9	$ 9
[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	Mar. 31, 2023	Dec. 31, 2022
Allowance for credit losses	$ 47	$ 96
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
Treasury stock, shares (in shares)	703,914	703,914
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)	15,925,197	15,464,480
Common stock, shares, outstanding (in shares)	15,221,283	14,760,566
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)	94,566,687	94,937,285
Common stock, shares, outstanding (in shares)	94,566,687	94,937,285

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue:
Interest and loan related income	$ 119,942	$ 100,336
Other revenue	432	374
Interest and other income	120,374	100,710
Change in fair value of finance receivables	(63,118)	(49,525)
Provision for credit losses on finance receivables	(70)	(457)
Net revenue	57,186	50,728
Expenses:
Salaries and employee benefits	14,521	16,833
Interest expense and amortized debt issuance costs	11,371	7,448
Direct marketing costs	10,528	13,888
Professional fees	3,723	2,490
Depreciation and amortization	3,391	3,238
Technology costs	3,166	3,135
Payment processing fees	2,390	2,066
Occupancy	1,108	1,069
Loss on assets held for sale	147	0
General, administrative and other	3,111	2,722
Total expenses	53,456	52,889
Income (loss) from operations	3,730	(2,161)
Other income:
Change in fair value of warrant liabilities	153	2,404
Other income	193	0
Income before income taxes	4,076	243
Income tax expense	146	540
Net income (loss)	3,930	(297)
Net income (loss) attributable to noncontrolling interest	3,679	(1,373)
Net income attributable to OppFi Inc.	$ 251	$ 1,076
Earnings per common share:
Basic (in dollars per share)	$ 0.02	$ 0.08
Diluted (in dollars per share)	$ 0.02	$ 0
Weighted average common shares outstanding:
Basic (in shares)	15,037,326	13,581,828
Diluted (in shares)	15,189,895	84,473,957

Consolidated Statements of Stoc

Consolidated Statements of Stockholders’ Equity (Unaudited) - USD ($) $ in Thousands	Total	Class A Common Stock	Common Stock Class A Common Stock	Common Stock Class V Voting Stock	Additional Paid-in Capital	Accumulated Deficit	Treasury Stock	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2021			13,631,484	96,338,474
Beginning balance at Dec. 31, 2021	$ 157,878		$ 1	$ 10	$ 61,672	$ (70,723)	$ 0	$ 166,918
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	579				579
Repurchase of common stock (in shares)		(282,334)	(282,334)
Repurchase of common stock	(1,037)	$ (1,000)			(374)	(1,042)		379
Member distributions	(587)							(587)
Tax receivable agreement	54				54
Net income (loss)	(297)					1,076		(1,373)
Ending balance (in shares) at Mar. 31, 2022			13,349,150	96,338,474
Ending balance at Mar. 31, 2022	156,590		$ 1	$ 10	61,931	(70,689)	0	165,337
Beginning balance (in shares) at Dec. 31, 2022			14,760,566	94,937,285
Beginning balance at Dec. 31, 2022	159,150		$ 2	$ 9	65,501	(63,546)	(2,460)	159,644
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exchange of Class V shares (in shares)			370,598	(370,598)
Exchange of Class V shares	0				630	3		(633)
Issuance of common stock under employee stock purchase plan (in shares)			90,119
Issuance of common stock under employee stock purchase plan	157				157
Stock-based compensation	1,139				1,139
Member distributions	(5)							(5)
Tax receivable agreement	(187)				(187)
Deferred tax asset	(61)				(61)
Net income (loss)	3,930					251		3,679
Ending balance (in shares) at Mar. 31, 2023			15,221,283	94,566,687
Ending balance at Mar. 31, 2023	$ 164,123		$ 2	$ 9	$ 67,179	$ (63,292)	$ (2,460)	$ 162,685

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net income (loss)	$ 3,930	$ (297)
Adjustments to reconcile net income to net cash provided by operating activities:
Change in fair value of finance receivables	63,118	49,525
Provision for credit losses on finance receivables	70	457
Depreciation and amortization	3,391	3,238
Debt issuance cost amortization	764	609
Stock-based compensation expense	1,139	579
Loss on assets held for sale	147	0
Deferred income taxes	109	537
Change in fair value of warrant liabilities	(153)	(2,404)
Gain on forgiveness of debt	(113)	0
Changes in assets and liabilities:
Accrued interest and fees receivable	2,982	(44)
Settlement receivable	(843)	0
Operating lease, net	(15)	4
Assets held for sale	(75)	0
Other assets	158	356
Accounts payable	(2,627)	741
Accrued expenses	(6,345)	(8,570)
Net cash provided by operating activities	65,637	44,731
Cash flows from investing activities:
Finance receivables originated and acquired	(155,499)	(156,877)
Finance receivables repayments	129,314	108,447
Purchases of equipment and capitalized technology	(2,115)	(3,814)
Net cash used in investing activities	(28,300)	(52,244)
Cash flows from financing activities:
Member distributions	(5)	(587)
Net payments of secured borrowing payable	(643)	(3,267)
Net (payments) advances of senior debt	(14,116)	10,000
Payments of note payable	(808)	0
Payments for debt issuance costs	(218)	(12)
Proceeds from employee stock purchase plan	157	0
Repurchases of common stock	0	(1,037)
Net cash (used in) provided by financing activities	(15,633)	5,097
Net increase (decrease) in cash and restricted cash	21,704	(2,416)
Cash and restricted cash
Beginning	49,670	62,362
Ending	71,374	59,946
Supplemental disclosure of cash flow information:
Interest paid on borrowed funds	10,125	6,735
Income taxes paid	10	0
Supplemental disclosure of non-cash activities:
Adjustments to additional paid-in capital as a result of tax receivable agreement	(187)	54
Adjustments to additional paid-in capital as a result of adjustment to deferred tax asset	(61)	0
Operating lease right of use asset recognized from adoption of ASU 2016-02	0	15,459
Operating lease liability recognized from adoption of ASU 2016-02	$ 0	$ 17,972

Organization and Nature of Oper

Organization and Nature of Operations	3 Months Ended
	Mar. 31, 2023
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 subsidiaries (“Company”), is a mission-driven fintech platform that helps everyday Americans gain access to credit with digital specialty finance products. OppFi’s primary products are offered by its installment loan product, OppLoans. OppFi’s products also include its payroll deduction secured installment loan product, SalaryTap, and credit card product, OppFi Card. On July 20, 2021 (the “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 (the “Members’ Representative”), in his capacity as the representative of the members of OppFi-LLC (“Members”) immediately prior to the closing (the “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 March 31, 2023 and December 31, 2022, OppFi owned approximately 13.9% and 13.5% of the OppFi Units, respectively, 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	3 Months Ended
	Mar. 31, 2023
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, 2022 included in the Company's Annual Report on Form 10-K ("Annual Report") for the year ended December 31, 2022, filed with the SEC on March 29, 2023. 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 months ended March 31, 2023 are not necessarily indicative of the results of operations that may be expected for the full year ending December 31, 2023. 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 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 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, 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. 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 three months ended March 31, 2023 and 2022, finance receivables originated through the bank partnership arrangements totaled 95% and 94%, respectively. As of March 31, 2023 and December 31, 2022, the unpaid principal balance of finance receivables outstanding for purchase was $10.2 million and $11.2 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 March 31, 2023 and December 31, 2022, 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 $2.0 million and $3.8 million for the three months ended March 31, 2023 and 2022, respectively. Amortization expense, which is included in depreciation and amortization on the consolidated statements of operations, totaled $3.2 million and $3.0 million for the three months ended March 31, 2023 and 2022, respectively. Noncontrolling interests: Noncontrolling interests are held by the Members, who retained 86.1% and 86.5% of the economic ownership percentage of OppFi-LLC as of March 31, 2023 and December 31, 2022, 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 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 adoption of ASU No. 2022-02 did not have a material impact on the Company’s consolidated financial statements and related disclosures. 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.

Finance Receivables

Finance Receivables	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Finance Receivables	Finance Receivables Finance receivables at fair value: The components of installment finance receivables at fair value as of March 31, 2023 and December 31, 2022 were as follows (in thousands): March 31, 2023 December 31, 2022 Unpaid principal balance of finance receivables - accrual $ 346,548 $ 369,643 Unpaid principal balance of finance receivables - non-accrual 23,167 32,537 Unpaid principal balance of finance receivables $ 369,715 $ 402,180 Finance receivables at fair value - accrual $ 401,295 $ 436,552 Finance receivables at fair value - non-accrual 3,372 4,944 Finance receivables at fair value, excluding accrued interest and fees receivable 404,667 441,496 Accrued interest and fees receivable 12,822 15,800 Finance receivables at fair value $ 417,489 $ 457,296 Difference between unpaid principal balance and fair value $ 34,952 $ 39,316 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 March 31, 2023, the aggregate unpaid principal balance and fair value of installment finance receivables 90 days or more past due on a contractual basis was $13.4 million and $2.0 million, respectively. As of December 31, 2022, the aggregate unpaid principal balance and fair value of installment finance receivables 90 days or more past due on a contractual basis was $17.6 million and $2.7 million, respectively. Changes in the fair value of installment finance receivables at fair value for the three months ended March 31, 2023 and 2022 were as follows (in thousands): Three Months Ended March 31, 2023 2022 Balance at the beginning of the period $ 457,296 $ 383,890 Originations 155,493 154,021 Repayments (129,204) (106,577) Accrued interest and fees receivable (2,978) 36 Charge-offs, net (1) (58,754) (47,171) Net change in fair value (1) (4,364) (2,354) Balance at the end of the period $ 417,489 $ 381,845 (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 at amortized cost as of March 31, 2023 and December 31, 2022 were as follows (in thousands): March 31, 2023 December 31, 2022 Finance receivables $ 506 $ 730 Accrued interest and fees 5 9 Allowance for credit losses (47) (96) Finance receivables at amortized cost, net $ 464 $ 643 Changes in the allowance for credit losses on finance receivables at amortized cost for the three months ended March 31, 2023 and 2022 were as follows (in thousands): Three Months Ended March 31, 2023 2022 Beginning balance $ 96 $ 803 Provisions for credit losses on finance receivables 70 457 Finance receivables charged off (119) (329) Ending balance $ 47 $ 931 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 March 31, 2023 and December 31, 2022 (in thousands): March 31, 2023 December 31, 2022 Recency delinquency Contractual delinquency Recency delinquency Contractual delinquency Current $ 459 $ 423 $ 638 $ 585 Delinquency 30-59 days 30 20 45 44 60-89 days 17 26 47 59 90+ days — 37 — 42 Total delinquency 47 83 92 145 Finance receivables $ 506 $ 506 $ 730 $ 730

Property, Equipment and Softwar

Property, Equipment and Software, Net	3 Months Ended
	Mar. 31, 2023
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): March 31, 2023 December 31, 2022 Capitalized technology $ 48,772 $ 46,760 Furniture, fixtures and equipment 3,783 3,680 Leasehold improvements 979 979 Total property, equipment and software 53,534 51,419 Less accumulated depreciation and amortization (40,771) (37,380) Property, equipment and software, net $ 12,763 $ 14,039 Depreciation and amortization expense for the three months ended March 31, 2023 and 2022 was $3.4 million and $3.2 million, respectively.

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses consisted of the following (in thousands): March 31, 2023 December 31, 2022 Accrual for services rendered and goods purchased $ 7,537 $ 8,589 Accrued payroll and benefits 3,002 8,646 Other 6,332 5,985 Total $ 16,871 $ 23,220

Leases

Leases	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Leases	Leases Operating lease cost, which is included in occupancy expense in the consolidated statements of operations, for the three months ended March 31, 2023 and 2022 totaled $1.1 million and $1.1 million, respectively, of which $0.6 million and $0.5 million, respectively, were related to variable lease payments. Sublease income, which is included in other income in the consolidated statements of operations, totaled $80 thousand for three months ended March 31, 2023. Cash paid for amounts included in the measurement of lease liabilities was $0.5 millions and $0.6 million for three months ended March 31, 2023 and 2022, respectively. As of March 31, 2023 and December 31, 2022, there were no outstanding balances on the letter of credit. The components of lease costs as of March 31, 2023 are as follows (in thousands): Amount Operating lease cost $ 1,100 Sublease income (80) Total lease cost $ 1,020 Future minimum lease payments as of March 31, 2023 are as follows (in thousands): Year Amount Remainder of 2023 $ 1,760 2024 2,410 2025 2,482 2026 2,557 2027 2,633 2028 2,713 Thereafter 4,937 Total lease payments 19,492 Less: imputed interest (3,310) Operating lease liability $ 16,182 The weighted average remaining lease term and discount rate as of March 31, 2023 are as follows: Weighted average remaining lease term (in years) 7.5 Weighted average discount rate 5 %

Borrowings

Borrowings	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Borrowings	Borrowings The following is a summary of the Company’s outstanding borrowings as of March 31, 2023 and December 31, 2022, including borrowing capacity as of March 31, 2023 (in thousands): Purpose Borrower Borrowing Capacity March 31, 2023 December 31, 2022 Interest Rate as of March 31, 2023 Maturity Date Secured borrowing payable Opportunity Funding SPE II, LLC $ — $ — $ 756 15.00% — Senior debt, net Revolving line of credit Opportunity Funding SPE V, LLC; Opportunity Funding SPE VII, LLC (Tranche A) $ 75,000 $ 37,500 $ 37,500 SOFR plus 7.36% April 2024 Revolving line of credit Opportunity Funding SPE V, LLC; Opportunity Funding SPE VII, LLC (Tranche B) 125,000 112,302 121,647 SOFR plus 6.75% June 2026 Revolving line of credit Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC — — — SOFR plus 0.11% plus 3.85% February 2024 Revolving line of credit Opportunity Funding SPE IX, LLC 150,000 91,871 91,871 SOFR plus 7.50% December 2026 Revolving line of credit Gray Rock SPV LLC 75,000 39,945 44,716 SOFR plus 7.25% April 2025 Total revolving lines of credit 425,000 281,618 295,734 Term loan, net OppFi-LLC 50,000 49,126 48,954 LIBOR plus 10.00% March 2025 Total senior debt, net $ 475,000 $ 330,744 $ 344,688 Notes payable OppFi-LLC $ 808 $ 808 $ 1,616 7.07% July 2023 Secured borrowing payable: On February 16, 2023, the borrowings under this secured borrowing payable were paid in full, of which borrowings totaling $0.1 million were forgiven. Subsequent to repayment, OppFi-LLC terminated the preferred return agreement. As of December 31, 2022, $165.0 million of finance receivables have been purchased with an active secured borrowing balance of $0.8 million. Interest expense related to secured borrowings was $10 thousand and $0.8 million for the three months ended March 31, 2023 and 2022, 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 months ended March 31, 2023 and 2022. As of March 31, 2023 and December 31, 2022, there were no unamortized debt issuance costs related to secured borrowings. Senior debt: Revolving line of credit - Opportunity Funding SPE III, LLC This facility was paid in full in December 2022. There was no interest expense associated with this facility for the three months ended March 31, 2023. Interest expense related to this facility was $2.5 million for the three months ended March 31, 2022. Additionally, the Company previously capitalized $2.2 million in debt issuance costs in connection with this facility. There was no amortized debt issuance costs associated with this facility for the three months ended March 31, 2023. Amortized debt issuance costs associated with this facility were $0.2 million for the three months ended March 31, 2022. As of March 31, 2023 and December 31, 2022, there were no unamortized debt issuance costs associated with this facility. Revolving line of credit - Opportunity Funding SPE V, LLC and Opportunity Funding SPE VII, LLC Interest expense related to this facility was $4.6 million and $1.1 million for the three months ended March 31, 2023 and 2022, respectively. Additionally, the Company previously capitalized $2.7 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 March 31, 2023 and 2022, respectively. As of March 31, 2023 and December 31, 2022, the remaining balance of unamortized debt issuance costs associated with this facility was $1.2 million and $1.3 million, respectively. Revolving line of credit - Opportunity Funding SPE VI, LLC This facility was paid in full in June 2022. There was no interest expense associated with this facility for the three months ended March 31, 2023. Interest expense related to this facility was $0.8 million for the three months ended March 31, 2022. Additionally, the Company previously capitalized $0.9 million in debt issuance costs in connection with this facility. There was no amortized debt issuance costs associated with this facility for the three months ended March 31, 2023. Amortized debt issuance costs associated with this facility were $0.1 million for the three months ended March 31, 2022. As of March 31, 2023 and December 31, 2022, there was no unamortized debt issuance costs associated with this facility. Revolving line of credit - Opportunity Funding SPE IV, LLC and SalaryTap Funding SPE, LLC On February 15, 2023, the Company terminated the revolving line of credit agreement upon the end of the revolving commitment period. Interest expense related to this facility was $6 thousand and $0.1 million for the three months ended March 31, 2023 and 2022, respectively. Additionally, the Company previously capitalized $1.1 million in debt issuance costs in connection with this facility. Amortized debt issuance costs associated with this facility were $0.2 million and $46 thousand for the three months ended March 31, 2023 and 2022, respectively. As of March 31, 2023, there was no unamortized debt issuance costs associated with this facility. As of December 31, 2022, unamortized debt issuance costs associated with this facility was $0.2 million. Revolving line of credit - Opportunity Funding SPE IX, LLC Interest expense related to this facility was $2.8 million for the three months ended March 31, 2023. Additionally, the Company previously capitalized $2.4 million in debt issuance costs in connection with this facility. Amortized debt issuance costs associated with this facility were $0.2 million for the three months ended March 31, 2023. As of March 31, 2023 and December 31, 2022, the remaining balance of unamortized debt issuance costs associated with this facility was $2.2 million and $2.2 million, respectively. Revolving line of credit - Gray Rock SPV LLC Interest expense related to this facility was $1.3 million for the three months ended March 31, 2023. Additionally, the Company previously capitalized $0.5 million in debt issuance costs in connection with this facility. Amortized debt issuance costs associated with this facility was $39 thousand for the three months ended March 31, 2023, respectively. As of March 31, 2023 and December 31, 2022, the remaining balance of unamortized debt issuance costs associated with this facility was $0.3 million and $0.4 million, respectively. Term loan, net As of March 31, 2023 and December 31, 2022, the outstanding balance of $50.0 million was net of unamortized debt issuance costs of $0.9 million and $1.0 million, respectively. Interest expense related to this facility was $1.8 million and $1.5 million for the three months ended March 31, 2023 and 2022, respectively. Additionally, the Company previously 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 March 31, 2023 and 2022, respectively. Notes payable: Interest expense related to this note payable was $26 thousand for the three months ended March 31, 2023. As of March 31, 2023, required payments for all borrowings, excluding revolving lines of credit, for each of the next five years are as follows (in thousands): Year Amount Remainder of 2023 $ 808 2024 — 2025 50,000 2026 — 2027 — 2028 — Total $ 50,808

Warrant Liabilities

Warrant Liabilities	3 Months Ended
	Mar. 31, 2023
Warrants and Rights Note Disclosure [Abstract]
Warrant Liabilities	Warrant LiabilitiesAs of March 31, 2023, there were 11,887,500 Public Warrants and 3,451,937 Private Placement Warrants outstanding. As of March 31, 2023 and December 31, 2022, the Company recorded warrant liabilities of $1.7 million and $1.9 million, respectively, in the consolidated balance sheets. The change in fair value of the Public Warrants and Private Placement Warrants was decreased by $0.1 million and $34 thousand, respectively, for the three months ended March 31, 2023. The change in fair value of the Public Warrants and Private Placement Warrants was decreased by $1.9 million and $0.5 million, respectively, for the three months ended March 31, 2022.

Stockholders_ Equity

Stockholders’ Equity	3 Months Ended
	Mar. 31, 2023
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. There were no repurchase activities during the three months ended March 31, 2023. During the three months ended March 31, 2022, OppFi repurchased 282,334 shares of Class A Common Stock at an average purchase price of $3.67 per share for an aggregate purchase price of $1.0 million. As of March 31, 2023, $17.5 million of the repurchase authorization under the Repurchase Program remained available.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based CompensationOn 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 March 31, 2023, the maximum aggregate number of shares of Class A Common Stock that may be issued under the Plan (including from outstanding awards) was 17,257,521 shares. As of March 31, 2023, OppFi had only granted awards in the form of options, restricted stock units (“RSU”), and performance stock units (“PSU”). Stock options: A summary of the Company’s stock option activity for the three months ended March 31, 2023 is as follows: Stock Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding as of December 31, 2022 1,978,972 $ 12.99 8.7 $ — Granted — — — — Exercised — — — — Forfeited — — — — Outstanding as of March 31, 2023 1,978,972 $ 12.99 8.4 $ — Exercisable as of March 31, 2023 1,181,774 $ 15.05 8.3 $ — For the three months ended March 31, 2023, the Company recognized stock-based compensation expense of $0.2 million related to stock options. For the three months ended March 31, 2022, the Company recognized negative stock-based compensation expense of $0.2 million related to stock options due to forfeitures. As of March 31, 2023 and December 31, 2022, the Company had unrecognized stock-based compensation related to unvested stock options of $1.6 million and $1.7 million, respectively, that is expected to be recognized over an estimated weighted average period of approximately 2.6 years and 2.8 years, respectively. Restricted stock units: A summary of the Company’s RSU activity for the three months ended March 31, 2023 is as follows: Shares Weighted- Average Grant Date Fair Value Unvested as of December 31, 2022 2,174,842 $ 4.23 Granted 121,660 2.00 Vested (104,912) 5.59 Forfeited (31,554) 3.89 Unvested as of March 31, 2023 2,160,036 $ 4.04 For the three months ended March 31, 2023 and 2022, the Company recognized stock-based compensation of $0.8 million and $0.8 million, respectively, related to RSUs. As of March 31, 2023 and December 31, 2022, total unrecognized compensation expense related to RSUs was $7.4 million and $8.1 million, respectively, which will be recognized over a weighted average vesting period of approximately 2.9 years and 2.9 years, respectively. Performance stock units: A summary of the Company’s PSU activity for the three months ended March 31, 2023 is as follows: Shares Weighted-Average Grant Date Fair Value Unvested as of December 31, 2022 329,738 $ 3.46 Granted — — Vested (1,466) 7.69 Forfeited — — Unvested as of March 31, 2023 328,272 $ 3.44 For the three months ended March 31, 2023 and 2022, the Company recognized stock-based compensation of $0.1 million and $0.1 million, respectively, related to PSUs. As of March 31, 2023 and December 31, 2022, total unrecognized compensation expense related to PSUs was $0.6 million and $0.7 million, respectively, which will be recognized over a weighted average vesting period of approximately 3.0 years and 3.4 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 March 31, 2023, the maximum aggregate number of shares of Class A Common Stock that may be issued under the ESPP (including from outstanding awards) was 1,483,919. 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 March 31, 2023, there were 134,746 shares of Class A Common Stock purchased under the ESPP. As of December 31, 2022, there were 44,627 shares of Class A Common Stock purchased under the ESPP. ESPP employee payroll contributions accrued as of March 31, 2023 were $0.1 million and are included within accrued expenses on the consolidated balance sheets. Payroll contributions accrued as of March 31, 2023 will be used to purchase shares at the end of the ESPP offering period ending on June 30, 2023. Payroll contributions ultimately used to purchase shares are reclassified to stockholders’ equity on the purchase date. During the three months ended March 31, 2023, the Company recognized ESPP compensation expense of $24 thousand.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended March 31, 2023, OppFi recorded an income tax expense of $0.1 million and reported consolidated income before income taxes of $4.1 million, resulting in a 3.6% effective income tax rate. For the three months ended March 31, 2022, OppFi recorded an income tax expense of $0.5 million and reported consolidated income before income taxes of $0.2 million, resulting in a 222.2% effective income tax rate. OppFi’s effective income tax rates 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 March 31, 2023, there was one discrete item recorded, which consist of a $7 thousand adjustment related to a prior period state tax adjustment, which increased the effective tax rates by 0.2%. Excluding the aforementioned discrete item, the effective tax rates for the three months ended March 31, 2023 would have been 3.4%. For the three months ended March 31, 2022, there was a discrete item recorded of $0.5 million related to a prior period stock compensation adjustment, which increased the effective rate by 219%. Excluding the aforementioned discrete item, the effective tax rate for the three months ended March 31, 2022 would have been 3.2%. 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 March 31, 2023 and 2022, OppFi owned 13.9% and 12.2% of the outstanding units of OppFi-LLC and considers appropriate tax accounting only on this portion of OppFi-LLC’s activity. 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. As of March 31, 2023 and December 31, 2022, OppFi recorded an unrecognized tax benefit of $40 thousand and $20 thousand, respectively, related to research and development credits allocated from OppFi-LLC. ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no amounts accrued for the payment of interest and penalties as of March 31, 2023 and December 31, 2022. 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	3 Months Ended
	Mar. 31, 2023
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 months ended March 31, (in thousands): Three Months Ended March 31, 2023 2022 Interest expense $ 10,607 $ 6,839 Amortized debt issuance costs 764 609 Interest expense and amortized debt issuance costs $ 11,371 $ 7,448

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value on a nonrecurring basis : The Company’s financial assets that are measured at fair value on a nonrecurring basis as of March 31, 2023 and December 31, 2022 include assets held for sale. These assets are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances. Assets held for sale are measured at fair value on a nonrecurring basis using Level 3 inputs. 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 March 31, 2023 and December 31, 2022 are as follows (in thousands): Fair Value Measurements March 31, 2023 Level 1 Level 2 Level 3 Financial assets: Finance receivables at fair value, excluding accrued interest and fees receivable (1) $ 404,667 $ — $ — $ 404,667 Financial liabilities: Warrant liability - Public Warrants (2) 1,070 1,070 — — Warrant liability - Private Placement Warrants (3) 665 — — 665 Fair Value Measurements December 31, 2022 Level 1 Level 2 Level 3 Financial assets: Finance receivables at fair value, excluding accrued interest and fees receivable (1) $ 441,496 $ — $ — $ 441,496 Financial liabilities: Warrant liability - Public Warrants (2) 1,189 1,189 — — Warrant liability - Private Placement Warrants (3) 699 — — 699 During the three months ended March 31, 2023 and 2022, 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 March 31, 2023 and December 31, 2022: March 31, 2023 December 31, 2022 Interest rate on finance receivables 153.19 % 152.39 % Discount rate 26.19 % 25.89 % Servicing cost* 5.01 % 5.01 % Remaining life 0.60 years 0.59 years Default rate* 21.11 % 20.27 % Accrued interest* 3.47 % 3.93 % Prepayment rate* 21.85 % 21.33 % *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 Black-Scholes-Merton model; 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 March 31, 2023 and December 31, 2022: March 31, 2023 December 31, 2022 Input $11.50 Exercise $15 Exercise $11.50 Exercise $15 Exercise Risk-free interest rate 3.74 % 3.49 % 4.11 % 3.88 % Expected term (years) 3.3 years 8.3 years 3.5 years 8.5 years Expected volatility 55.00 % 55.00 % 53.90 % 53.90 % Exercise price $ 11.50 $ 15.00 $ 11.50 $ 15.00 Fair value of warrants $ 0.10 $ 0.45 $ 0.11 $ 0.46 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, 2022 $ 279 $ 420 $ 699 Change in fair value (25) (9) (34) Fair value as of March 31, 2023 $ 254 $ 411 $ 665 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 March 31, 2023 and December 31, 2022 (in thousands): Fair Value Measurements March 31, 2023 Level 1 Level 2 Level 3 Assets: Cash $ 32,185 $ 32,185 $ — $ — Restricted cash 39,189 39,189 — — Accrued interest and fees receivable 12,822 12,822 — — Finance receivables at amortized cost, net 464 — — 464 Settlement receivable 2,843 2,843 — — Liabilities: Senior debt, net 330,744 — — 330,744 Note payable 808 — — 808 Fair Value Measurements December 31, 2022 Level 1 Level 2 Level 3 Assets: Cash $ 16,239 $ 16,239 $ — $ — Restricted cash 33,431 33,431 — — Accrued interest and fees receivable 15,800 15,800 — — Finance receivables at amortized cost, net 643 — — 643 Settlement receivable 2,000 2,000 — — Liabilities: Secured borrowing payable 756 — — 756 Senior debt, net 344,688 — — 344,688 Note payable 1,616 — — 1,616

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies 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. During the three months ended March 31, 2022, the Company distributed refunds totaling $1.5 million to the District of Columbia consumers. The Company has fulfilled all terms of the Settlement as of December 31, 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 (“Court”). The

Concentration of Credit Risk

Concentration of Credit Risk	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023, consumers living primarily in Texas, Florida and Virginia made up approximately 15%, 13% and 11%, respectively, of the Company’s portfolio of finance receivables. As of March 31, 2023, there were no other states that made up more than 10% or more of the Company’s portfolio of finance receivables. As of December 31, 2022, consumers living primarily in Texas, Florida and Virginia made up approximately 14%, 13%, and 11%, respectively, 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	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 and 2022, respectively.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2023 and 2022 (in thousands, except share and per share data): Three Months Ended March 31, 2023 2022 Numerator: Net income attributable to OppFi Inc. $ 251 $ 1,076 Net income available to Class A common stockholders - Basic 251 1,076 Dilutive effect of warrants on net income to Class A common stockholders — — Net loss attributable to noncontrolling interest — (1,373) Income tax benefit — 331 Net income available to Class A common stockholders - Diluted $ 251 $ 34 Denominator: Weighted average Class A common stock outstanding - Basic 15,037,326 13,581,828 Effect of dilutive securities: Stock options — — Restricted stock units 122,571 53,655 Performance stock units 29,998 — Warrants — — Employee stock purchase plan — — Retained OppFi Units, excluding Earnout Units — 70,838,474 Dilutive potential common shares 152,569 70,892,129 Weighted average units outstanding - diluted 15,189,895 84,473,957 Earnings per share: Basic $ 0.02 $ 0.08 Diluted $ 0.02 $ — 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 months ended March 31, 2023 and 2022: Three Months Ended March 31, 2023 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 1,978,972 2,127,096 Restricted stock units 2,202,314 1,360,548 Performance stock units 307,070 78,907 Noncontrolling interest - Earnout Units 25,500,000 25,500,000 Noncontrolling interest - OppFi Units 69,066,687 — Potential common stock 114,394,480 44,405,988

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2023
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 and identified the following event that required disclosure.Assets held for sale. In May 2023, the Company made the decision to wind down the OppFi Card business; accordingly, the Company has discontinued its marketing of the OppFi Card finance receivables for sale. The OppFi Card finance receivables will no longer meet the held for sale criteria.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
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, 2022 included in the Company's Annual Report on Form 10-K ("Annual Report") for the year ended December 31, 2022, filed with the SEC on March 29, 2023. 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 months ended March 31, 2023 are not necessarily indicative of the results of operations that may be expected for the full year ending December 31, 2023. 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 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	Use of estimates: The preparation of the unaudited consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions 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, 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 three months ended March 31, 2023 and 2022, finance receivables originated through the bank partnership arrangements totaled 95% and 94%, respectively. As of March 31, 2023 and December 31, 2022, the unpaid principal balance of finance receivables outstanding for purchase was $10.2 million and $11.2 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 March 31, 2023 and December 31, 2022, 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 $2.0 million and $3.8 million for the three months ended March 31, 2023 and 2022, respectively. Amortization expense, which is included in depreciation and amortization on the consolidated statements of operations, totaled $3.2 million and $3.0 million for the three months ended March 31, 2023 and 2022, respectively.
Noncontrolling interests	Noncontrolling interests: Noncontrolling interests are held by the Members, who retained 86.1% and 86.5% of the economic ownership percentage of OppFi-LLC as of March 31, 2023 and December 31, 2022, 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	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 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 adoption of ASU No. 2022-02 did not have a material impact on the Company’s consolidated financial statements and related disclosures. 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.

Finance Receivables (Tables)

Finance Receivables (Tables)	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Schedule of Installment Finance Receivables at Fair Value	The components of installment finance receivables at fair value as of March 31, 2023 and December 31, 2022 were as follows (in thousands): March 31, 2023 December 31, 2022 Unpaid principal balance of finance receivables - accrual $ 346,548 $ 369,643 Unpaid principal balance of finance receivables - non-accrual 23,167 32,537 Unpaid principal balance of finance receivables $ 369,715 $ 402,180 Finance receivables at fair value - accrual $ 401,295 $ 436,552 Finance receivables at fair value - non-accrual 3,372 4,944 Finance receivables at fair value, excluding accrued interest and fees receivable 404,667 441,496 Accrued interest and fees receivable 12,822 15,800 Finance receivables at fair value $ 417,489 $ 457,296 Difference between unpaid principal balance and fair value $ 34,952 $ 39,316
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 months ended March 31, 2023 and 2022 were as follows (in thousands): Three Months Ended March 31, 2023 2022 Balance at the beginning of the period $ 457,296 $ 383,890 Originations 155,493 154,021 Repayments (129,204) (106,577) Accrued interest and fees receivable (2,978) 36 Charge-offs, net (1) (58,754) (47,171) Net change in fair value (1) (4,364) (2,354) Balance at the end of the period $ 417,489 $ 381,845 (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 at amortized cost as of March 31, 2023 and December 31, 2022 were as follows (in thousands): March 31, 2023 December 31, 2022 Finance receivables $ 506 $ 730 Accrued interest and fees 5 9 Allowance for credit losses (47) (96) Finance receivables at amortized cost, net $ 464 $ 643
Schedule of Changes in Allowance for Credit Losses on Finance Receivables at Amortized Cost	Changes in the allowance for credit losses on finance receivables at amortized cost for the three months ended March 31, 2023 and 2022 were as follows (in thousands): Three Months Ended March 31, 2023 2022 Beginning balance $ 96 $ 803 Provisions for credit losses on finance receivables 70 457 Finance receivables charged off (119) (329) Ending balance $ 47 $ 931
Schedule 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 March 31, 2023 and December 31, 2022 (in thousands): March 31, 2023 December 31, 2022 Recency delinquency Contractual delinquency Recency delinquency Contractual delinquency Current $ 459 $ 423 $ 638 $ 585 Delinquency 30-59 days 30 20 45 44 60-89 days 17 26 47 59 90+ days — 37 — 42 Total delinquency 47 83 92 145 Finance receivables $ 506 $ 506 $ 730 $ 730

Property, Equipment and Softw_2

Property, Equipment and Software, Net (Tables)	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property, Equipment and Software	Property, equipment and software consisted of the following (in thousands): March 31, 2023 December 31, 2022 Capitalized technology $ 48,772 $ 46,760 Furniture, fixtures and equipment 3,783 3,680 Leasehold improvements 979 979 Total property, equipment and software 53,534 51,419 Less accumulated depreciation and amortization (40,771) (37,380) Property, equipment and software, net $ 12,763 $ 14,039

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consisted of the following (in thousands): March 31, 2023 December 31, 2022 Accrual for services rendered and goods purchased $ 7,537 $ 8,589 Accrued payroll and benefits 3,002 8,646 Other 6,332 5,985 Total $ 16,871 $ 23,220

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Schedule of Components of Lease Costs/Weighted Average Remaining Lease Term and Discount Rate	The components of lease costs as of March 31, 2023 are as follows (in thousands): Amount Operating lease cost $ 1,100 Sublease income (80) Total lease cost $ 1,020 The weighted average remaining lease term and discount rate as of March 31, 2023 are as follows: Weighted average remaining lease term (in years) 7.5 Weighted average discount rate 5 %
Schedule of Future Minimum Lease Payments	Future minimum lease payments as of March 31, 2023 are as follows (in thousands): Year Amount Remainder of 2023 $ 1,760 2024 2,410 2025 2,482 2026 2,557 2027 2,633 2028 2,713 Thereafter 4,937 Total lease payments 19,492 Less: imputed interest (3,310) Operating lease liability $ 16,182

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Borrowings	The following is a summary of the Company’s outstanding borrowings as of March 31, 2023 and December 31, 2022, including borrowing capacity as of March 31, 2023 (in thousands): Purpose Borrower Borrowing Capacity March 31, 2023 December 31, 2022 Interest Rate as of March 31, 2023 Maturity Date Secured borrowing payable Opportunity Funding SPE II, LLC $ — $ — $ 756 15.00% — Senior debt, net Revolving line of credit Opportunity Funding SPE V, LLC; Opportunity Funding SPE VII, LLC (Tranche A) $ 75,000 $ 37,500 $ 37,500 SOFR plus 7.36% April 2024 Revolving line of credit Opportunity Funding SPE V, LLC; Opportunity Funding SPE VII, LLC (Tranche B) 125,000 112,302 121,647 SOFR plus 6.75% June 2026 Revolving line of credit Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC — — — SOFR plus 0.11% plus 3.85% February 2024 Revolving line of credit Opportunity Funding SPE IX, LLC 150,000 91,871 91,871 SOFR plus 7.50% December 2026 Revolving line of credit Gray Rock SPV LLC 75,000 39,945 44,716 SOFR plus 7.25% April 2025 Total revolving lines of credit 425,000 281,618 295,734 Term loan, net OppFi-LLC 50,000 49,126 48,954 LIBOR plus 10.00% March 2025 Total senior debt, net $ 475,000 $ 330,744 $ 344,688 Notes payable OppFi-LLC $ 808 $ 808 $ 1,616 7.07% July 2023
Summary of Required Payments for Borrowings, Excluding Secured Borrowing and Revolving Lines of Credit	As of March 31, 2023, required payments for all borrowings, excluding revolving lines of credit, for each of the next five years are as follows (in thousands): Year Amount Remainder of 2023 $ 808 2024 — 2025 50,000 2026 — 2027 — 2028 — Total $ 50,808

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Company's Stock Option, Activity	A summary of the Company’s stock option activity for the three months ended March 31, 2023 is as follows: Stock Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding as of December 31, 2022 1,978,972 $ 12.99 8.7 $ — Granted — — — — Exercised — — — — Forfeited — — — — Outstanding as of March 31, 2023 1,978,972 $ 12.99 8.4 $ — Exercisable as of March 31, 2023 1,181,774 $ 15.05 8.3 $ —
Schedule of Restricted Stock Unit, Activity	A summary of the Company’s RSU activity for the three months ended March 31, 2023 is as follows: Shares Weighted- Average Grant Date Fair Value Unvested as of December 31, 2022 2,174,842 $ 4.23 Granted 121,660 2.00 Vested (104,912) 5.59 Forfeited (31,554) 3.89 Unvested as of March 31, 2023 2,160,036 $ 4.04
Schedule of PSU Activity	A summary of the Company’s PSU activity for the three months ended March 31, 2023 is as follows: Shares Weighted-Average Grant Date Fair Value Unvested as of December 31, 2022 329,738 $ 3.46 Granted — — Vested (1,466) 7.69 Forfeited — — Unvested as of March 31, 2023 328,272 $ 3.44

Interest Expense and Amortize_2

Interest Expense and Amortized Debt Issuance Costs (Tables)	3 Months Ended
	Mar. 31, 2023
Interest Expense And Amortized Debt Issuance Costs [Abstract]
Schedule of Interest Expense and Amortized Debt Issuance Costs	The following table summarizes interest expense and amortized debt issuance costs for the three months ended March 31, (in thousands): Three Months Ended March 31, 2023 2022 Interest expense $ 10,607 $ 6,839 Amortized debt issuance costs 764 609 Interest expense and amortized debt issuance costs $ 11,371 $ 7,448

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 and December 31, 2022 are as follows (in thousands): Fair Value Measurements March 31, 2023 Level 1 Level 2 Level 3 Financial assets: Finance receivables at fair value, excluding accrued interest and fees receivable (1) $ 404,667 $ — $ — $ 404,667 Financial liabilities: Warrant liability - Public Warrants (2) 1,070 1,070 — — Warrant liability - Private Placement Warrants (3) 665 — — 665 Fair Value Measurements December 31, 2022 Level 1 Level 2 Level 3 Financial assets: Finance receivables at fair value, excluding accrued interest and fees receivable (1) $ 441,496 $ — $ — $ 441,496 Financial liabilities: Warrant liability - Public Warrants (2) 1,189 1,189 — — Warrant liability - Private Placement Warrants (3) 699 — — 699 During the three months ended March 31, 2023 and 2022, 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 Black-Scholes-Merton model; 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 March 31, 2023 and December 31, 2022: March 31, 2023 December 31, 2022 Interest rate on finance receivables 153.19 % 152.39 % Discount rate 26.19 % 25.89 % Servicing cost* 5.01 % 5.01 % Remaining life 0.60 years 0.59 years Default rate* 21.11 % 20.27 % Accrued interest* 3.47 % 3.93 % Prepayment rate* 21.85 % 21.33 % *Stated as a percentage of finance receivables The following table presents the significant assumptions used in the simulation at March 31, 2023 and December 31, 2022: March 31, 2023 December 31, 2022 Input $11.50 Exercise $15 Exercise $11.50 Exercise $15 Exercise Risk-free interest rate 3.74 % 3.49 % 4.11 % 3.88 % Expected term (years) 3.3 years 8.3 years 3.5 years 8.5 years Expected volatility 55.00 % 55.00 % 53.90 % 53.90 % Exercise price $ 11.50 $ 15.00 $ 11.50 $ 15.00 Fair value of warrants $ 0.10 $ 0.45 $ 0.11 $ 0.46
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, 2022 $ 279 $ 420 $ 699 Change in fair value (25) (9) (34) Fair value as of March 31, 2023 $ 254 $ 411 $ 665
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 March 31, 2023 and December 31, 2022 (in thousands): Fair Value Measurements March 31, 2023 Level 1 Level 2 Level 3 Assets: Cash $ 32,185 $ 32,185 $ — $ — Restricted cash 39,189 39,189 — — Accrued interest and fees receivable 12,822 12,822 — — Finance receivables at amortized cost, net 464 — — 464 Settlement receivable 2,843 2,843 — — Liabilities: Senior debt, net 330,744 — — 330,744 Note payable 808 — — 808 Fair Value Measurements December 31, 2022 Level 1 Level 2 Level 3 Assets: Cash $ 16,239 $ 16,239 $ — $ — Restricted cash 33,431 33,431 — — Accrued interest and fees receivable 15,800 15,800 — — Finance receivables at amortized cost, net 643 — — 643 Settlement receivable 2,000 2,000 — — Liabilities: Secured borrowing payable 756 — — 756 Senior debt, net 344,688 — — 344,688 Note payable 1,616 — — 1,616

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
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 months ended March 31, 2023 and 2022 (in thousands, except share and per share data): Three Months Ended March 31, 2023 2022 Numerator: Net income attributable to OppFi Inc. $ 251 $ 1,076 Net income available to Class A common stockholders - Basic 251 1,076 Dilutive effect of warrants on net income to Class A common stockholders — — Net loss attributable to noncontrolling interest — (1,373) Income tax benefit — 331 Net income available to Class A common stockholders - Diluted $ 251 $ 34 Denominator: Weighted average Class A common stock outstanding - Basic 15,037,326 13,581,828 Effect of dilutive securities: Stock options — — Restricted stock units 122,571 53,655 Performance stock units 29,998 — Warrants — — Employee stock purchase plan — — Retained OppFi Units, excluding Earnout Units — 70,838,474 Dilutive potential common shares 152,569 70,892,129 Weighted average units outstanding - diluted 15,189,895 84,473,957 Earnings per share: Basic $ 0.02 $ 0.08 Diluted $ 0.02 $ —
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 months ended March 31, 2023 and 2022: Three Months Ended March 31, 2023 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 1,978,972 2,127,096 Restricted stock units 2,202,314 1,360,548 Performance stock units 307,070 78,907 Noncontrolling interest - Earnout Units 25,500,000 25,500,000 Noncontrolling interest - OppFi Units 69,066,687 — Potential common stock 114,394,480 44,405,988

Organization and Nature of Op_2

Organization and Nature of Operations (Details) - $ / shares	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Jul. 20, 2021
Class of Stock [Line Items]
Ownership interest held, percent	13.90%	13.50%	12.20%
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 Millions	3 Months Ended
	Mar. 31, 2023 USD ($) segment	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Accounting Policies [Abstract]
Number of reportable segments | segment	1
Finance receivables originated through the bank partnership arrangements, percentage	95%	94%
Finance receivables originated through the bank partnership arrangements	$ 10.2		$ 11.2
Accrual period for financing receivables	60 days
Development and capitalized software costs	$ 2	$ 3.8
Capitalized software costs, amortization expense	$ 3.2	$ 3
Existing Equity Holders
Schedule Of Reverse Recapitalization [Line Items]
Ownership interest retained	86.10%		86.50%

Finance Receivables - Schedule

Finance Receivables - Schedule of Components of Installment Finance Receivables At Fair Value (Details) - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Unpaid principal balance of finance receivables - accrual		$ 346,548	$ 369,643
Unpaid principal balance of finance receivables - non-accrual		23,167	32,537
Unpaid principal balance of finance receivables		369,715	402,180
Finance receivables at fair value - accrual		401,295	436,552
Finance receivables at fair value - non-accrual		3,372	4,944
Finance receivables at fair value, excluding accrued interest and fees receivable		404,667	441,496
Accrued interest and fees receivable		12,822	15,800
Finance receivables at fair value	[1]	417,489	457,296
Difference between unpaid principal balance and fair value		$ 34,952	$ 39,316
[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		3 Months Ended	12 Months Ended
		Mar. 31, 2023	Dec. 31, 2022
Accrual period for financing receivables		60 days
Aggregate unpaid principal balance		$ 369,715	$ 402,180
Fair value of receivables	[1]	417,489	457,296
Finance receivables at amortized cost in non-accrual status		$ 100	$ 100
Recency delinquency
Accrual period for financing receivables		60 days
Contractual delinquency
Accrual period for financing receivables		90 days	90 days
90+ days
Aggregate unpaid principal balance		$ 13,400	$ 17,600
Fair value of receivables		$ 2,000	$ 2,700
[1](1) Includes amounts in consolidated variable interest entities ("VIEs") presented separately in the table below.

Finance Receivables - Schedul_2

Finance Receivables - Schedule of Changes in Fair Value of Finance Installment Receivables (Details) - Financing Receivable - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at the beginning of the period	$ 457,296	$ 383,890
Originations	155,493	154,021
Repayments	(129,204)	(106,577)
Accrued interest and fees receivable	(2,978)	36
Charge-offs, net	(58,754)	(47,171)
Net change in fair value	(4,364)	(2,354)
Balance at the end of the period	$ 417,489	$ 381,845

Finance Receivables - Schedul_3

Finance Receivables - Schedule of Finance Receivables (Detail) - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Finance receivables		$ 506	$ 730
Accrued interest and fees		5	9
Allowance for credit losses		(47)	(96)	$ (931)	$ (803)
Finance receivables at amortized cost, net	[1]	$ 464	$ 643
[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 at Amortized Cost (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 96	$ 803
Provisions for credit losses on finance receivables	70	457
Finance receivables charged off	(119)	(329)
Ending balance	$ 47	$ 931

Finance Receivables - Summary_2

Finance Receivables - Summary of Credit Quality Finance Receivable Portfolio (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Finance receivables	$ 506	$ 730
Recency delinquency
Financing Receivable, Past Due [Line Items]
Finance receivables	506	730
Recency delinquency | Current
Financing Receivable, Past Due [Line Items]
Finance receivables	459	638
Recency delinquency | Total delinquency
Financing Receivable, Past Due [Line Items]
Finance receivables	47	92
Recency delinquency | 30-59 days
Financing Receivable, Past Due [Line Items]
Finance receivables	30	45
Recency delinquency | 60-89 days
Financing Receivable, Past Due [Line Items]
Finance receivables	17	47
Recency delinquency | 90+ days
Financing Receivable, Past Due [Line Items]
Finance receivables	0	0
Contractual delinquency
Financing Receivable, Past Due [Line Items]
Finance receivables	506	730
Contractual delinquency | Current
Financing Receivable, Past Due [Line Items]
Finance receivables	423	585
Contractual delinquency | Total delinquency
Financing Receivable, Past Due [Line Items]
Finance receivables	83	145
Contractual delinquency | 30-59 days
Financing Receivable, Past Due [Line Items]
Finance receivables	20	44
Contractual delinquency | 60-89 days
Financing Receivable, Past Due [Line Items]
Finance receivables	26	59
Contractual delinquency | 90+ days
Financing Receivable, Past Due [Line Items]
Finance receivables	$ 37	$ 42

Property, Equipment and Softw_3

Property, Equipment and Software, Net - Schedule of Property, Equipment and Software (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property, equipment and software	$ 53,534	$ 51,419
Less accumulated depreciation and amortization	(40,771)	(37,380)
Property, equipment and software, net	12,763	14,039
Capitalized technology
Property, Plant and Equipment [Line Items]
Property, equipment and software	48,772	46,760
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Property, equipment and software	3,783	3,680
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
	Mar. 31, 2023	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 3.4	$ 3.2

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrual for services rendered and goods purchased		$ 7,537	$ 8,589
Accrued payroll and benefits		3,002	8,646
Other		6,332	5,985
Total	[1]	$ 16,871	$ 23,220
[1](1) Includes amounts in consolidated variable interest entities ("VIEs") presented separately in the table below.

Leases - Additional Information

Leases - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Leases [Abstract]
Operating lease cost	$ 1,100,000	$ 1,100,000
Variable lease payment	600,000	500,000
Sublease income	80,000
Cash paid for amounts included in the measurement of lease liabilities, operating cash flows from operating leases	500,000	$ 600,000
Letters of credit outstanding, amount	$ 0		$ 0

Leases - Schedule of Components

Leases - Schedule of Components of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Operating lease cost	$ 1,100	$ 1,100
Sublease income	(80)
Total lease cost	$ 1,020

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Remainder of 2023	$ 1,760
2024	2,410
2025	2,482
2026	2,557
2027	2,633
2028	2,713
Thereafter	4,937
Total lease payments	19,492
Less: imputed interest	(3,310)
Operating lease liability	$ 16,182	$ 16,558

Leases - Schedule of Weighted A

Leases - Schedule of Weighted Average Remaining Lease Term and Discount Rate (Details)	Mar. 31, 2023
Leases [Abstract]
Weighted average remaining lease term (in years)	7 years 6 months
Weighted average discount rate	5%

Borrowings - Schedule of Borrow

Borrowings - Schedule of Borrowings (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Term loan, net
Debt Instrument [Line Items]
Total	$ 50,808
Secured borrowing payable
Debt Instrument [Line Items]
Borrower	Opportunity Funding SPE II, LLC
Borrowing Capacity	$ 0
Total	$ 0	$ 756
Interest rate	15%
Senior debt, net
Debt Instrument [Line Items]
Borrowing Capacity	$ 475,000
Total	330,744	344,688
Senior debt, net | Revolving Credit Facility
Debt Instrument [Line Items]
Borrowing Capacity	425,000
Total	$ 281,618	295,734
Senior debt, net | Revolving Line Of Credit, Tranche A, Maturing April 2024, 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
Total	$ 37,500	37,500
Maturity Date	April 2024
Senior debt, net | Revolving Line Of Credit, Tranche B, Maturing June 2026, 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
Total	$ 112,302	121,647
Maturity Date	June 2026
Senior debt, net | 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	$ 0
Total	$ 0	0
Basis spread on variable rate	3.85%
Maturity Date	February 2024
Senior debt, net | Revolving Line Of Credit, Maturing December 2026, Opportunity Funding SPE IX, LLC
Debt Instrument [Line Items]
Borrower	Opportunity Funding SPE IX, LLC
Borrowing Capacity	$ 150,000
Total	$ 91,871	91,871
Maturity Date	December 2026
Senior debt, net | Revolving Line Of Credit, Maturing April 2025, Gray Rock SPV, LLC
Debt Instrument [Line Items]
Borrower	Gray Rock SPV LLC
Borrowing Capacity	$ 75,000
Total	$ 39,945	44,716
Maturity Date	April 2025
Senior debt, net | Term loan, net
Debt Instrument [Line Items]
Borrower	OppFi-LLC
Borrowing Capacity	$ 50,000
Total	$ 49,126	48,954
Maturity Date	March 2025
Notes payable
Debt Instrument [Line Items]
Borrower	OppFi-LLC
Borrowing Capacity	$ 808
Total	$ 808	$ 1,616
Interest rate	7.07%
Maturity Date	July 2023
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Senior debt, net | Revolving Line Of Credit, Tranche A, Maturing April 2024, Opportunity Funding SPE V, LLC; Opportunity Funding SPE VII, LLC
Debt Instrument [Line Items]
Basis spread on variable rate	7.36%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Senior debt, net | Revolving Line Of Credit, Tranche B, Maturing June 2026, 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, net | 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, net | Revolving Line Of Credit, Maturing December 2026, Opportunity Funding SPE IX, LLC
Debt Instrument [Line Items]
Basis spread on variable rate	7.50%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Senior debt, net | Revolving Line Of Credit, Maturing April 2025, Gray Rock SPV, LLC
Debt Instrument [Line Items]
Basis spread on variable rate	7.25%
London Interbank Offered Rate (LIBOR) | Senior debt, net | Term loan, net
Debt Instrument [Line Items]
Basis spread on variable rate	10%

Borrowings - Additional Informa

Borrowings - Additional Information (Detail) - USD ($)			3 Months Ended
		Feb. 16, 2023	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Short-term Debt [Line Items]
Secured borrowing payable held by variable interest entity	[1]		$ 0		$ 756,000
Interest expense			10,607,000	$ 6,839,000
Amortized debt issuance costs			764,000	609,000
Debt issuance costs, net	[1]		3,675,000		4,049,000
Secured borrowing payable
Short-term Debt [Line Items]
Extinguishment of debt, amount		$ 100,000
Finance receivable purchased					165,000,000
Secured borrowing payable held by variable interest entity					800,000
Interest expense			10,000	800,000
Capitalized issuance costs			200,000
Amortized debt issuance costs			0	0
Debt issuance costs, net			0		0
Senior debt, net | Revolving Line Of Credit, Maturing January 2024, Opportunity Funding SPE III, LLC
Short-term Debt [Line Items]
Interest expense			0	2,500,000
Capitalized issuance costs			2,200,000
Amortized debt issuance costs			0	200,000
Debt issuance costs, net			0		0
Senior debt, net | Revolving Line Of Credit, Maturing April 2024, Opportunity Funding SPE V, LLC; Opportunity Funding SPE VII, LLC
Short-term Debt [Line Items]
Interest expense			4,600,000	1,100,000
Capitalized issuance costs			2,700,000
Amortized debt issuance costs			100,000	200,000
Debt issuance costs, net			1,200,000		1,300,000
Senior debt, net | Revolving Line Of Credit, Maturing April 2023, Opportunity Funding SPE VI, LLC
Short-term Debt [Line Items]
Interest expense			0	800,000
Capitalized issuance costs			900,000
Amortized debt issuance costs			0	100,000
Debt issuance costs, net			0		0
Senior debt, net | Revolving Line Of Credit, Maturing February 2024, Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC
Short-term Debt [Line Items]
Interest expense			6,000	100,000
Capitalized issuance costs			1,100,000
Amortized debt issuance costs			200,000	46,000
Debt issuance costs, net			0		200,000
Senior debt, net | Revolving Line Of Credit, Maturing December 2026, Opportunity Funding SPE IX, LLC
Short-term Debt [Line Items]
Interest expense			2,800,000
Capitalized issuance costs			2,400,000
Amortized debt issuance costs			200,000
Debt issuance costs, net			2,200,000		2,200,000
Senior debt, net | Revolving Line Of Credit, Maturing April 2025, Gray Rock SPV, LLC
Short-term Debt [Line Items]
Interest expense			1,300,000
Capitalized issuance costs			500,000
Amortized debt issuance costs			39,000
Debt issuance costs, net			300,000		400,000
Senior debt, net | Term loan, net
Short-term Debt [Line Items]
Interest expense			1,800,000	1,500,000
Capitalized issuance costs			2,300,000
Amortized debt issuance costs			100,000	$ 100,000
Debt issuance costs, net			900,000		$ 1,000,000
Principal amount of debt			50,000,000
Notes payable
Short-term Debt [Line Items]
Interest expense			$ 26,000
[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	Mar. 31, 2023 USD ($)
Debt Instrument [Line Items]
Remainder of 2023	$ 808
2024	0
2025	50,000
2026	0
2027	0
2028	0
Total	$ 50,808

Warrant Liabilities - Additiona

Warrant Liabilities - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Class of Warrant or Right [Line Items]
Warrant liabilities	$ 1,735		$ 1,888
Change in fair value of warrant liabilities	$ (153)	$ (2,404)
Public Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	11,887,500
Change in fair value of warrant liabilities	$ (100)	(1,900)
Private Unit Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	3,451,937
Change in fair value of warrant liabilities		$ (500)

Stockholders_ Equity - Addition

Stockholders’ Equity - Additional information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Jan. 06, 2022
Class of Stock [Line Items]
Stock repurchased during period, value		$ 1,037,000
Class A Common Stock
Class of Stock [Line Items]
Stock repurchase program, authorized amount			$ 20,000,000
Number of shares redeemed per share repurchased (in shares)	1
Stock repurchased during period (in shares)		282,334
Stock repurchased, average cost per share (in dollars per share)		$ 3.67
Stock repurchased during period, value		$ 1,000,000
Remaining authorized repurchase amount	$ 17,500,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
	Jul. 20, 2021	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP employee payroll contributions		$ 100
ESPP compensation expense		24
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expenses		200	$ (200)
Stock-based compensation not yet recognized related to unvested options		$ 1,600		$ 1,700
Unvested award, cost not yet recognized, period for recognition		2 years 7 months 6 days		2 years 9 months 18 days
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expenses		$ 800	800
Unvested award, cost not yet recognized, period for recognition		2 years 10 months 24 days		2 years 10 months 24 days
Unrecognized compensation expense		$ 7,400		$ 8,100
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expenses		$ 100	$ 100
Unvested award, cost not yet recognized, period for recognition		3 years		3 years 4 months 24 days
Unrecognized compensation expense		$ 600		$ 700
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum eligible employee compensation contribution percentage	10%
Offering period	6 months
Fair market value share purchase percentage	85%
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)		1,483,919
Percentage of outstanding stock maximum		1%
Outstanding stock maximum (in shares)		2,400,000
Shares purchased under the ESPP (in shares)		134,746		44,627
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)		17,257,521

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Stock Options
Outstanding beginning balance (in shares)	1,978,972
Granted (in shares)	0
Exercised (in shares)	0
Forfeited (in shares)	0
Outstanding ending balance (in shares)	1,978,972	1,978,972
Vested and exercisable (in shares)	1,181,774
Weighted- Average Exercise Price
Outstanding beginning balance (in dollars per share)	$ 12.99
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Forfeited (in dollars per share)	0
Outstanding ending balance (in dollars per share)	12.99	$ 12.99
Vested and exercisable (in dollars per share)	$ 15.05
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted- Average Remaining Contractual Life (Years)	8 years 4 months 24 days	8 years 8 months 12 days
Exercisable, Weighted-Average Remaining Contractual Life (Years)	8 years 3 months 18 days
Aggregate Intrinsic Value	$ 0	$ 0
Exercisable, Aggregate Intrinsic Value	$ 0

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Restricted Stock Unit Activity (Details) - Restricted stock units	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Shares
Outstanding beginning balance (in shares) | shares	2,174,842
Granted (in shares) | shares	121,660
Vested (in shares) | shares	(104,912)
Forfeited (in shares) | shares	(31,554)
Outstanding ending balance (in shares) | shares	2,160,036
Weighted- Average Grant Date Fair Value
Outstanding beginning balance (in dollars per share) | $ / shares	$ 4.23
Granted (in dollars per share) | $ / shares	2
Vested (in dollars per share) | $ / shares	5.59
Forfeited (in dollars per share) | $ / shares	3.89
Outstanding ending balance (in dollars per share) | $ / shares	$ 4.04

Stock-Based Compensation - Sc_3

Stock-Based Compensation - Schedule of PSU Activity (Details) - Performance stock units	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Shares
Outstanding beginning balance (in shares) | shares	329,738
Granted (in shares) | shares	0
Vested (in shares) | shares	(1,466)
Forfeited (in shares) | shares	0
Outstanding ending balance (in shares) | shares	328,272
Weighted- Average Grant Date Fair Value
Outstanding beginning balance (in dollars per share) | $ / shares	$ 3.46
Granted (in dollars per share) | $ / shares	0
Vested (in dollars per share) | $ / shares	7.69
Forfeited (in dollars per share) | $ / shares	0
Outstanding ending balance (in dollars per share) | $ / shares	$ 3.44

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income tax expense	$ 146,000	$ 540,000
Income before income taxes	$ 4,076,000	$ 243,000
Effective income tax rate, percent	3.60%	222.20%
Statutory income tax rate, percent	21%
Effective income tax rate, stock compensation adjustment, amount	$ 7,000	$ 500,000
Effective income tax rate, stock compensation adjustment, percent	0.20%	219%
Effective income tax rate, excluding tax expense, stock compensation adjustment, percent	3.40%	3.20%
Ownership interest held, percent	13.90%	12.20%	13.50%
Unrecognized tax benefits	$ 40,000		$ 20,000
Income tax examination, penalties and interest accrued	$ 0		$ 0

Interest Expense and Amortize_3

Interest Expense and Amortized Debt Issuance Costs - Schedule of Interest Expense And Amortized Debt Issuance Costs (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Interest Expense And Amortized Debt Issuance Costs [Abstract]
Interest expense	$ 10,607	$ 6,839
Amortized debt issuance costs	764	609
Interest expense and amortized debt issuance costs	$ 11,371	$ 7,448

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	Mar. 31, 2023	Dec. 31, 2022
Financial assets:
Finance receivables at fair value, excluding accrued interest and fees receivable	$ 404,667	$ 441,496
Financial liabilities:
Warrant liabilities	1,735	1,888
Fair Value, Recurring | Reported Value Measurement
Financial assets:
Finance receivables at fair value, excluding accrued interest and fees receivable	404,667	441,496
Fair Value, Recurring | Reported Value Measurement | Public Warrants
Financial liabilities:
Warrant liabilities	1,070	1,189
Fair Value, Recurring | Reported Value Measurement | Private Placement Warrants
Financial liabilities:
Warrant liabilities	665	699
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	1,070	1,189
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	404,667	441,496
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	$ 665	$ 699

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Fair Value Measurement Input and Valuation Techniques of Installment Financing Receivables (Detail)	Mar. 31, 2023	Dec. 31, 2022
Interest rate on finance receivables
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	1.5319	1.5239
Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.2619	0.2589
Servicing cost
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.0501	0.0501
Remaining life
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.6	0.59
Default rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.2111	0.2027
Accrued interest
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.0347	0.0393
Prepayment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.2185	0.2133

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	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
$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	0.0374	0.0411
$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	3,300	3,500
$11.50 Exercise Price Warrants | Expected volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	0.5500	0.5390
$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	0.10	0.11
$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	0.0349	0.0388
$15 Exercise Price Warrants | Expected term (years)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	8,300	8,500
$15 Exercise Price Warrants | Expected volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	0.5500	0.5390
$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	0.45	0.46

Fair Value Measurements - Sch_4

Fair Value Measurements - Schedule of Changes in Fair Value of Private Placement Warrants (Detail) - Level 3 - Warrants $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Private Placement Warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 699
Change in fair value	(34)
Ending Balance	665
$11.50 Exercise Price Warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	279
Change in fair value	(25)
Ending Balance	254
$15 Exercise Price Warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	420
Change in fair value	(9)
Ending Balance	$ 411

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		Mar. 31, 2023	Dec. 31, 2022
Assets
Cash	[1]	$ 32,185	$ 16,239
Restricted cash	[1]	39,189	33,431
Accrued interest and fees receivable		12,822	15,800
Finance receivables at amortized cost, net	[1]	464	643
Settlement receivable	[1]	2,843	2,000
Liabilities:
Senior debt, net	[1]	330,744	344,688
Note payable		808	1,616
Secured debt	[1]	0	756
Level 1
Assets
Cash		32,185	16,239
Restricted cash		39,189	33,431
Accrued interest and fees receivable		12,822	15,800
Finance receivables at amortized cost, net		0	0
Settlement receivable		2,843	2,000
Liabilities:
Senior debt, net		0	0
Note payable		0	0
Secured debt			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
Settlement receivable		0	0
Liabilities:
Senior debt, net		0	0
Note payable		0	0
Secured debt			0
Level 3
Assets
Cash		0	0
Restricted cash		0	0
Accrued interest and fees receivable		0	0
Finance receivables at amortized cost, net		464	643
Settlement receivable		0	0
Liabilities:
Senior debt, net		330,744	344,688
Note payable		$ 808	1,616
Secured debt			$ 756
[1](1) Includes amounts in consolidated variable interest entities ("VIEs") presented separately in the table below.

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions		3 Months Ended
	Nov. 18, 2021	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Litigation settlement, amount awarded to other party	$ 0.3
Unpaid settlement funds	$ 1.5
Damages paid, value		$ 1.5

Concentration of Credit Risk -

Concentration of Credit Risk - Additional Information (Detail) - Financing Receivable - Geographic Concentration Risk	Mar. 31, 2023	Dec. 31, 2022
Texas
Concentration Risk [Line Items]
Concentration risk, percentage	15%	14%
Florida
Concentration Risk [Line Items]
Concentration risk, percentage	13%	13%
Virginia
Concentration Risk [Line Items]
Concentration risk, percentage	11%	11%

Retirement Plan - Additional In

Retirement Plan - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Retirement Benefits [Abstract]
Employer matching contribution, percent of match	4%
Salaries and employee benefits	$ 0.4	$ 0.4

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
	Mar. 31, 2023	Mar. 31, 2022
Numerator:
Net income attributable to OppFi Inc.	$ 251	$ 1,076
Net income available to Class A common stockholders - Basic	251	1,076
Dilutive effect of warrants on net income to Class A common stockholders	0	0
Net loss attributable to noncontrolling interest	3,679	(1,373)
Income tax benefit	0	331
Net income available to Class A common stockholders - Diluted	$ 251	$ 34
Denominator:
Weighted average Class A common stock outstanding - Basic (in shares)	15,037,326	13,581,828
Effect of dilutive securities:
Dilutive potential common shares (in shares)	152,569	70,892,129
Weighted average units outstanding - diluted (in shares)	15,189,895	84,473,957
Earnings per share:
Basic (in dollars per share)	$ 0.02	$ 0.08
Diluted (in dollars per share)	$ 0.02	$ 0
Previously Reported
Numerator:
Net loss attributable to noncontrolling interest	$ 0	$ (1,373)
Stock Options
Effect of dilutive securities:
Dilutive securities (in shares)	0	0
Restricted stock units
Effect of dilutive securities:
Dilutive securities (in shares)	122,571	53,655
Performance stock units
Effect of dilutive securities:
Dilutive securities (in shares)	29,998	0
Warrants
Effect of dilutive securities:
Warrants (in shares)	0	0
Employee stock purchase plan
Effect of dilutive securities:
Dilutive securities (in shares)	0	0
Retained OppFi Units, excluding Earnout Units
Effect of dilutive securities:
Dilutive securities (in shares)	0	70,838,474

Earnings Per Share - Schedule_2

Earnings Per Share - Schedule of Securities Excluded from Calculation of Diluted Earnings Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	114,394,480	44,405,988
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)	1,978,972	2,127,096
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	2,202,314	1,360,548
Performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	307,070	78,907
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
Noncontrolling interest - OppFi Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	69,066,687	0