OppFi (OPFI) 10-Q 9 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Nov. 07, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 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		110,669,080
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001818502
Class A common stock, par value $0.0001 per share
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		17,725,951
Warrants, each whole warrant exercisable for one share of Class A common stock, each at an exercise price of $11.50 per share
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		92,943,129

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands		Sep. 30, 2023	Dec. 31, 2022
Assets
Cash	[1]	$ 31,125	$ 16,239
Restricted cash	[1]	34,902	33,431
Total cash and restricted cash		66,027	49,670
Finance receivables at fair value	[1]	466,465	457,296
Finance receivables at amortized cost, net of allowance for credit losses of $2,083 and $96 as of September 30, 2023 and December 31, 2022, respectively, and unearned income of $66 as of September 30, 2023		209	643
Settlement receivable	[1]	2,902	2,000
Assets held for sale		0	550
Debt issuance costs, net	[1]	4,217	4,049
Property, equipment and software, net		11,098	14,039
Operating lease right of use asset		12,587	13,587
Deferred tax asset		24,691	26,758
Other assets	[1]	12,396	11,247
Total assets		600,592	579,839
Liabilities:
Accounts payable	[1]	3,569	6,338
Accrued expenses	[1]	21,903	23,220
Operating lease liability		15,504	16,558
Secured borrowing payable	[1]	0	756
Senior debt, net	[1]	342,172	344,688
Notes payable		2,173	1,616
Warrant liabilities		1,050	1,888
Tax receivable agreement liability		24,388	25,625
Total liabilities		410,759	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 September 30, 2023 and December 31, 2022)		0	0
Additional paid-in capital		72,383	65,501
Accumulated deficit		(58,521)	(63,546)
Treasury stock at cost, 703,914 shares as of September 30, 2023 and December 31, 2022		(2,460)	(2,460)
Total OppFi Inc.'s stockholders' equity (deficit)		11,413	(494)
Noncontrolling interest		178,420	159,644
Total stockholders' equity		189,833	159,150
Total liabilities and stockholders' equity		600,592	579,839
Variable Interest Entity, Primary Beneficiary
Assets
Cash		258	0
Restricted cash		25,881	24,577
Total cash and restricted cash		26,139	24,577
Finance receivables at fair value		445,968	417,476
Settlement receivable		2,902	2,000
Debt issuance costs, net		4,217	4,049
Other assets		60	108
Total assets		479,286	448,210
Liabilities:
Accounts payable		10	109
Accrued expenses		3,550	3,428
Secured borrowing payable		0	756
Senior debt, net		292,827	295,734
Total liabilities		296,387	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 (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Allowance for credit losses	$ 2,083	$ 96
Unearned annual fee income	$ 66	$ 0
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)	18,115,756	15,464,480
Common stock, shares, outstanding (in shares)	17,411,842	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)	93,180,736	94,937,285
Common stock, shares, outstanding (in shares)	93,180,736	94,937,285

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue:
Interest and loan related income	$ 132,090	$ 123,605	$ 373,615	$ 331,814
Other revenue	1,075	639	2,410	1,015
Interest and other income	133,165	124,244	376,025	332,829
Change in fair value of finance receivables	(57,302)	(70,601)	(164,463)	(162,280)
Provision for credit losses on finance receivables	(195)	(1,017)	(4,131)	(2,043)
Net revenue	75,668	52,626	207,431	168,506
Expenses:
Salaries and employee benefits	14,761	14,600	45,407	46,747
Direct marketing costs	14,075	12,861	38,003	45,828
Interest expense and amortized debt issuance costs	12,077	9,095	34,679	24,421
Professional fees	5,067	3,443	13,984	8,957
Depreciation and amortization	3,119	3,452	9,827	10,056
Technology costs	3,141	3,301	9,587	9,723
Payment processing fees	2,989	2,772	7,762	7,738
Occupancy	1,108	1,091	3,322	3,231
Lower of cost or market adjustment on transfer of finance receivables from held for sale to held for investment	0	0	(2,983)	0
General, administrative and other	3,750	2,980	10,198	8,533
Total expenses	60,087	53,595	169,786	165,234
Income (loss) from operations	15,581	(969)	37,645	3,272
Other income:
Change in fair value of warrant liabilities	334	1,323	838	7,024
Other income	80	0	352	0
Income before income taxes	15,995	354	38,835	10,296
Income tax expense	463	1,015	1,297	1,757
Net income (loss)	15,532	(661)	37,538	8,539
Net income (loss) attributable to noncontrolling interest	13,363	(90)	32,976	4,576
Net income (loss) attributable to OppFi Inc.	$ 2,169	$ (571)	$ 4,562	$ 3,963
Earnings (loss) per common share:
Basic (in dollars per share)	$ 0.13	$ (0.04)	$ 0.29	$ 0.29
Diluted (in dollars per share)	$ 0.13	$ (0.04)	$ 0.29	$ 0.09
Weighted average common shares outstanding:
Basic (in shares)	16,772,275	13,972,971	15,820,262	13,694,733
Diluted (in shares)	17,057,778	13,972,971	16,046,831	84,277,277

Consolidated Statements of Stoc

Consolidated Statements of Stockholders’ Equity (Unaudited) - USD ($) $ in Thousands	Total	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]
Exchange of Class V shares (in shares)		1,179,374	(1,179,374)
Exchange of Class V shares	0			1,406	79		(1,485)
Vesting of restricted stock units (in shares)		89,851
Vesting of restricted stock units	0
Issuance of common stock under employee stock purchase plan (in shares)		44,627
Issuance of common stock under employee stock purchase plan	125			125
Stock-based compensation	2,391			2,391
Purchase of treasury stock (in shares)		(703,914)
Purchase of treasury stock	(2,460)					(2,460)
Member distributions	(1,315)						(1,315)
Tax receivable agreement	292			292
Net income (loss)	8,539				3,963		4,576
Ending balance (in shares) at Sep. 30, 2022		14,241,422	95,159,100
Ending balance at Sep. 30, 2022	165,450	$ 1	$ 10	65,886	(66,681)	(2,460)	168,694
Beginning balance (in shares) at Jun. 30, 2022		13,632,260	95,729,696
Beginning balance at Jun. 30, 2022	165,498	$ 1	$ 10	64,330	(66,164)	(2,153)	169,474
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exchange of Class V shares (in shares)		570,596	(570,596)
Exchange of Class V shares	0			484	54		(538)
Vesting of restricted stock units (in shares)		82,201
Vesting of restricted stock units	0
Issuance of common stock under employee stock purchase plan (in shares)		44,627
Issuance of common stock under employee stock purchase plan	125			125
Stock-based compensation	762			762
Purchase of treasury stock (in shares)		(88,262)
Purchase of treasury stock	(307)					(307)
Member distributions	(152)						(152)
Tax receivable agreement	185			185
Net income (loss)	(661)				(571)		(90)
Ending balance (in shares) at Sep. 30, 2022		14,241,422	95,159,100
Ending balance at Sep. 30, 2022	165,450	$ 1	$ 10	65,886	(66,681)	(2,460)	168,694
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)		1,756,549	(1,756,549)
Exchange of Class V shares	0			3,497	463		(3,960)
Vesting of restricted stock units (in shares)		841,392
Vesting of restricted stock units	0
Issuance of common stock under employee stock purchase plan (in shares)		189,622
Issuance of common stock under employee stock purchase plan	328			328
Stock-based compensation	3,070			3,070
Tax withholding on vesting of restricted stock units (in shares)		(136,287)
Tax withholding on vesting of restricted stock units	(280)			(280)
Member distributions	(10,240)						(10,240)
Tax receivable agreement	938			938
Deferred tax asset	(671)			(671)
Net income (loss)	37,538				4,562		32,976
Ending balance (in shares) at Sep. 30, 2023		17,411,842	93,180,736
Ending balance at Sep. 30, 2023	189,833	$ 2	$ 9	72,383	(58,521)	(2,460)	178,420
Beginning balance (in shares) at Jun. 30, 2023		16,280,397	94,037,840
Beginning balance at Jun. 30, 2023	176,990	$ 2	$ 9	70,889	(60,993)	(2,460)	169,543
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exchange of Class V shares (in shares)		857,104	(857,104)
Exchange of Class V shares	0			1,453	303		(1,756)
Vesting of restricted stock units (in shares)		311,125
Vesting of restricted stock units	0
Issuance of common stock under employee stock purchase plan (in shares)		99,503
Issuance of common stock under employee stock purchase plan	171			171
Stock-based compensation	1,086			1,086
Tax withholding on vesting of restricted stock units (in shares)		(136,287)
Tax withholding on vesting of restricted stock units	(280)			(280)
Member distributions	(2,730)						(2,730)
Tax receivable agreement	(21)			(21)
Deferred tax asset	(915)			(915)
Net income (loss)	15,532				2,169		13,363
Ending balance (in shares) at Sep. 30, 2023		17,411,842	93,180,736
Ending balance at Sep. 30, 2023	$ 189,833	$ 2	$ 9	$ 72,383	$ (58,521)	$ (2,460)	$ 178,420

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income (loss)	$ 37,538	$ 8,539
Adjustments to reconcile net income to net cash provided by operating activities:
Change in fair value of finance receivables	164,463	162,280
Provision for credit losses on finance receivables	4,131	2,043
Depreciation and amortization	9,827	10,056
Debt issuance cost amortization	1,872	1,626
Stock-based compensation expense	3,070	2,391
Loss on disposition of equipment	1	2
Lower of cost or market adjustment on transfer of finance receivables from held for sale to held for investment	(2,983)	0
Deferred income taxes	248	1,475
Tax receivable agreement liability	0	625
Change in fair value of warrant liabilities	(838)	(7,024)
Gain on forgiveness of debt	(113)	0
Changes in assets and liabilities:
Accrued interest and fees receivable	(600)	(4,637)
Settlement receivable	(902)	0
Operating lease, net	(54)	8
Other assets	1,398	1,131
Accounts payable	(2,769)	580
Accrued expenses	(701)	(6,832)
Net cash provided by operating activities	213,588	172,263
Cash flows from investing activities:
Finance receivables originated and acquired	(540,313)	(556,441)
Finance receivables repayments	367,217	323,146
Purchases of equipment and capitalized technology	(6,887)	(10,150)
Net cash used in investing activities	(179,983)	(243,445)
Cash flows from financing activities:
Member distributions	(10,240)	(1,315)
Net payments of secured borrowing payable	(643)	(20,685)
Net (payments) advances of senior debt	(2,907)	86,464
Net payments of note payable	(1,857)	(735)
Payments for debt issuance costs	(1,649)	(2,105)
Proceeds from employee stock purchase plan	328	125
Payments of tax withholding on vesting of restricted stock units	(280)	0
Repurchases of common stock	0	(2,460)
Net cash (used in) provided by financing activities	(17,248)	59,289
Net increase (decrease) in cash and restricted cash	16,357	(11,893)
Cash and restricted cash
Beginning	49,670	62,362
Ending	66,027	50,469
Supplemental disclosure of cash flow information:
Interest paid on borrowed funds	32,276	22,296
Income taxes paid	73	337
Supplemental disclosure of non-cash activities:
Adjustments to additional paid-in capital as a result of tax receivable agreement	938	292
Adjustments to additional paid-in capital as a result of adjustment to deferred tax asset	(671)	0
Operating lease right of use asset recognized	159	15,459
Operating lease liability recognized	159	17,972
Reclassification of finance receivables held for sale to held for investment	2,637	0
Prepaid insurance financed with promissory notes	$ 2,414	$ 3,243

Organization and Nature of Oper

Organization and Nature of Operations	9 Months Ended
	Sep. 30, 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 tech-enabled, mission-driven specialty fintech platform that broadens the reach of community banks to extend credit access to everyday Americans. 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 September 30, 2023 and December 31, 2022, OppFi owned approximately 15.7% 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	9 Months Ended
	Sep. 30, 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 2022 Annual Report. In the opinion of the Company’s management, these unaudited consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary for the fair statement of the results and financial position for the periods presented. The results of operations for the three and nine months ended September 30, 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. On April 26, 2023, Opportunity Funding SPE X, LLC changed its name to OppWin BPI, LLC. 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 2022 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 nine months ended September 30, 2023 and 2022, finance receivables originated through the bank partnership arrangements totaled 96% and 94%, respectively. As of September 30, 2023 and December 31, 2022, the unpaid principal balance of finance receivables outstanding for purchase was $10.8 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 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. Assets held for sale: Assets held for sale are assets which management has the intent to sell in the foreseeable future, and are carried at the lower of aggregate cost or fair value, less estimated costs to sell, in the period in which the held for sale criteria are met and every subsequent period until the asset is sold. The carrying amount of the asset is adjusted for subsequent increases or decreases in its fair value, less estimated cost to sell, except that any subsequent increase cannot exceed the cumulative loss previously recognized. Such assets are not depreciated or amortized while they are classified as held for sale. Realized gains and losses on the sale of the asset are recognized when the asset is sold and are determined by the difference between the sale proceeds and the carrying value of the asset. Assets classified as held for sale as of December 31, 2022 comprised the Company’s OppFi Card finance receivables. 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 and have been reclassified from held for sale to held for investment, which is included in finance receivables at amortized cost in the consolidated balance sheets. Upon transfer of the Company’s OppFi Card finance receivables from held for sale to held for investment, the Company reversed its previously recorded valuation allowance on being held for sale totaling $2.3 million and established an allowance for credit losses on being held for investment totaling $2.6 million. Capitalized technology: The Company capitalized software costs associated with application development totaling $2.2 million and $3.1 million for the three months ended September 30, 2023 and 2022, respectively, and $6.7 million and $9.9 million for the nine months ended September 30, 2023 and 2022, respectively. Amortization expense, which is included in depreciation and amortization on the consolidated statements of operations, totaled $2.9 million and $3.3 million for three months ended September 30, 2023 and 2022, respectively, and $9.2 million and $9.4 million for the nine months ended September 30, 2023 and 2022, respectively. Noncontrolling interests: Noncontrolling interests are held by the Members, who retained 84.3% and 86.5% of the economic ownership percentage of OppFi-LLC as of September 30, 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. 2021-01 is to expand guidance on contract modifications and hedge accounting. In December 2022, the FASB issued ASU No. 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848. The purpose of ASU No. 2022-06 is to defer the effective date of the provisions of ASU 2020-04 from December 31, 2022 to December 31, 2024. The amendments and expedients in these updates are effective as of March 12, 2020 through December 31, 2024 and may be elected by topic. The Company is currently evaluating the impact of ASU No. 2020-04, 2021-01 and 2022-06 on the Company’s consolidated financial statements.

Finance Receivables

Finance Receivables	9 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
Finance Receivables	Finance Receivables Finance receivables at fair value: The components of installment finance receivables at fair value as of September 30, 2023 and December 31, 2022 were as follows (in thousands): September 30, 2023 December 31, 2022 Unpaid principal balance of finance receivables - accrual $ 385,893 $ 369,643 Unpaid principal balance of finance receivables - non-accrual 30,040 32,537 Unpaid principal balance of finance receivables $ 415,933 $ 402,180 Finance receivables at fair value - accrual $ 445,139 $ 436,552 Finance receivables at fair value - non-accrual 4,920 4,944 Finance receivables at fair value, excluding accrued interest and fees receivable 450,059 441,496 Accrued interest and fees receivable 16,406 15,800 Finance receivables at fair value $ 466,465 $ 457,296 Difference between unpaid principal balance and fair value $ 34,126 $ 39,316 The Company’s policy is to discontinue and reverse the accrual of interest income on installment finance receivables at the earlier of 60 days past due on a recency basis or 90 days past due on a contractual basis. As of September 30, 2023, the aggregate unpaid principal balance and fair value of installment finance receivables 90 days or more past due on a contractual basis was $15.9 million and $2.5 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 and nine months ended September 30, 2023 and 2022 were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Balance at the beginning of the period $ 446,956 $ 450,703 $ 457,296 $ 383,890 Originations 192,906 185,092 539,152 550,483 Repayments (118,411) (109,519) (366,126) (318,677) Accrued interest and fees receivable 2,316 2,390 606 4,649 Charge-offs, net (1) (56,315) (67,709) (159,273) (161,479) Net change in fair value (1) (987) (2,892) (5,190) (801) Balance at the end of the period $ 466,465 $ 458,065 $ 466,465 $ 458,065 (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 September 30, 2023 and December 31, 2022 were as follows (in thousands): September 30, 2023 December 31, 2022 Finance receivables $ 2,355 $ 730 Accrued interest and fees 3 9 Unearned annual fee income (66) — Allowance for credit losses (2,083) (96) Finance receivables at amortized cost, net $ 209 $ 643 Changes in the allowance for credit losses on finance receivables at amortized cost for the three and nine months ended September 30, 2023 and 2022 were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Beginning balance $ 2,411 $ 1,045 $ 96 $ 803 Provisions for credit losses on finance receivables 195 1,017 4,131 2,043 Finance receivables charged off (535) (831) (2,159) (1,615) Recoveries of charge offs 12 1 15 1 Ending balance $ 2,083 $ 1,232 $ 2,083 $ 1,232 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 September 30, 2023 and December 31, 2022 (in thousands): September 30, 2023 December 31, 2022 Recency delinquency Contractual delinquency Recency delinquency Contractual delinquency Current $ 1,697 $ 1,659 $ 638 $ 585 Delinquency 30-59 days 130 132 45 44 60-89 days 97 104 47 59 90+ days 431 460 — 42 Total delinquency 658 696 92 145 Finance receivables $ 2,355 $ 2,355 $ 730 $ 730

Property, Equipment and Softwar

Property, Equipment and Software, Net	9 Months Ended
	Sep. 30, 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): September 30, 2023 December 31, 2022 Capitalized technology $ 53,443 $ 46,760 Furniture, fixtures and equipment 3,825 3,680 Leasehold improvements 979 979 Total property, equipment and software 58,247 51,419 Less accumulated depreciation and amortization (47,149) (37,380) Property, equipment and software, net $ 11,098 $ 14,039 Depreciation and amortization expense was $3.1 million and $3.5 million for the three months ended September 30, 2023 and 2022, respectively, and $9.8 million and $10.1 million for the nine months ended September 30, 2023 and 2022, respectively.

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses consisted of the following (in thousands): September 30, 2023 December 31, 2022 Accrual for services rendered and goods purchased $ 9,518 $ 8,589 Accrued payroll and benefits 5,737 8,646 Other 6,648 5,985 Total $ 21,903 $ 23,220

Leases

Leases	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Leases	Leases In April 2023, the Company entered into a lease agreement under a non-cancelable operating lease agreement with an unrelated party, expiring on May 31 2024. The lease provides for monthly lease payments of $12 thousand. The Company recognized a right-to-use asset of $0.2 million and lease liability of $0.2 million related to this lease agreement. Operating lease cost, which is included in occupancy expense in the consolidated statements of operations, totaled $1.1 million and $1.1 million, respectively, of which $0.5 million and $0.5 million were related to variable lease payments, for the three months ended September 30, 2023 and 2022, respectively. Operating lease cost totaled $3.3 million and $3.2 million, of which $1.5 million and $1.5 million was related to variable lease payments, for the nine months ended September 30, 2023 and 2022, respectively. Cash paid for amounts included in the measurement of lease liabilities was $0.6 million and $1.8 million for three and nine months ended September 30, 2023, respectively. Cash paid for amounts included in the measurement of lease liabilities totaled $0.6 million and $1.7 million for the three and nine months ended September 30, 2022, respectively. In connection with its operating lease agreement for office facilities through September 2030, the Company executed a letter of credit. As of September 30, 2023 and December 31, 2022, there were no outstanding balances on the letter of credit. Sublease income, which is included in other income in the consolidated statements of operations, totaled $0.1 million and $0.2 million for three and nine months ended September 30, 2023, respectively. The components of lease costs are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Operating lease cost $ 1,101 $ 1,084 $ 3,299 $ 3,209 Sublease income (80) — (239) — Total lease cost $ 1,021 $ 1,084 $ 3,060 $ 3,209 Future minimum lease payments as of September 30, 2023 are as follows (in thousands): Year Amount Remainder of 2023 $ 633 2024 2,470 2025 2,482 2026 2,557 2027 2,633 2028 2,712 Thereafter 4,937 Total lease payments 18,424 Less: imputed interest (2,920) Operating lease liability $ 15,504 The weighted average remaining lease term and discount rate as of September 30, 2023 are as follows: Weighted average remaining lease term (in years) 7.0 Weighted average discount rate 5 %

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Borrowings	Borrowings The following is a summary of the Company’s outstanding borrowings as of September 30, 2023 and December 31, 2022, including borrowing capacity as of September 30, 2023 (in thousands): Purpose Borrower Borrowing Capacity September 30, 2023 December 31, 2022 Interest Rate as of September 30, 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) $ — $ — $ 37,500 SOFR plus 7.36% April 2024 (1) Revolving line of credit Opportunity Funding SPE V, LLC (Tranche B) 125,000 109,300 121,647 SOFR plus 6.75% June 2026 (2) Revolving line of credit Opportunity Funding SPE V, LLC (Tranche C) 125,000 37,500 — SOFR plus 7.50% July 2027 Revolving line of credit Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC — — — SOFR plus 0.11% plus 3.85% February 2024 (3) Revolving line of credit Opportunity Funding SPE IX, LLC 150,000 93,871 91,871 SOFR plus 7.50% December 2026 Revolving line of credit Gray Rock SPV LLC 75,000 52,156 44,716 SOFR plus 7.25% April 2025 Total revolving lines of credit 475,000 292,827 295,734 Term loan, net OppFi-LLC 50,000 49,345 48,954 LIBOR plus 10.00% March 2025 Total senior debt, net $ 525,000 $ 342,172 $ 344,688 Notes payable Financed insurance premium OppFi-LLC $ — $ — $ 1,616 7.07% July 2023 Financed insurance premium OppFi-LLC 2,173 2,173 — 9.70% June 2024 Total notes payable $ 2,173 $ 2,173 $ 1,616 (1) Maturity date as of December 31, 2022 and for the subsequent period until Tranche A of this revolving line of credit was terminated in July 2023. (2) Borrower included Opportunity Funding SPE VII, LLC until the revolving line of credit was amended in July 2023. (3) Maturity date as of December 31, 2022 and for the subsequent period until the revolving line of credit was terminated in February 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 had been purchased with an active secured borrowing balance of $0.8 million. No interest expense was recognized related to secured borrowings for the three months ended September 30, 2023 as the secured borrowing payable was paid in full and subsequently terminated in February 2023. Interest expense related to this facility was $0.1 million for the three months ended September 30, 2022. Interest expense related to this facility was $10 thousand and $1.3 million for the nine months ended September 30, 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 and nine months ended September 30, 2023 and 2022. As of September 30, 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 and nine months ended September 30, 2023. Interest expense related to this facility was $2.8 million and $8.0 million for the three and nine months ended September 30, 2022, respectively. Additionally, the Company previously capitalized $2.2 million in debt issuance costs in connection with this facility. There were no amortized debt issuance costs associated with this facility for the three and nine months ended September 30, 2023. Amortized debt issuance costs associated with this facility were $0.1 million and $0.5 million for the three and nine months ended September 30, 2022, respectively. As of September 30, 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 On July 19, 2023, OppFi-LLC and Opportunity Funding SPE V, LLC, a Delaware limited liability company and wholly owned subsidiary of OppFi-LLC (“OF V Borrower”) entered into an Amended and Restated Revolving Credit Agreement (the “A&R Credit Agreement”), which amended and restated that certain Revolving Credit Agreement, dated as of April 15, 2019 (as previously amended, supplemented or otherwise modified, the “Prior Credit Agreement”), by and among OppFi-LLC, OF V Borrower, Opportunity Funding SPE VII, LLC, the other credit parties and guarantors thereto, Midtown Madison Management LLC as administrative agent and collateral agent, and the lenders party thereto. The A&R Credit Agreement amended the Prior Credit Agreement to, among other things, increase the size of the facility under the Prior Credit Agreement from $200 million to $250 million, remove Opportunity Funding SPE VII, LLC, a Delaware limited liability company and indirect wholly owned subsidiary of OppFi-LLC, as a borrower and remove the concept of pledging OppFi Card receivables under the A&R Credit Agreement, including removing OppWin Card, LLC as a seller. The $250 million of availability under the A&R Credit Agreement is comprised of $125 million under the existing Tranche B and $125 million under a new Tranche C. In addition, OF V Borrower may request, at any time during the Tranche C commitment period, one (1) increase in the Tranche C committed amount in an amount equal to $25 million, resulting in an aggregate Tranche C commitment equal to $150 million. Loans under Tranche C bear interest at the Term Secured Overnight Financing Rate plus 7.5% with a commitment period until July 19, 2026 and a maturity date of July 19, 2027. A portion of the proceeds of the A&R Credit Agreement were used to repay in full the outstanding Tranche A loans under the Prior Credit Agreement. Interest expense related to this facility was $4.7 million and $2.9 million for the three months ended September 30, 2023 and 2022, respectively, and $13.6 million and $5.5 million for the nine months ended September 30, 2023 and 2022, respectively. Additionally, the Company previously capitalized $4.1 million in debt issuance costs in connection with this facility. Amortized debt issuance costs associated with this facility were $0.2 million and $0.1 million for the three months ended September 30, 2023 and 2022, respectively, and $0.5 million and $0.4 million for the nine months ended September 30, 2023 and 2022, respectively. As of September 30, 2023 and December 31, 2022, the remaining balance of unamortized debt issuance costs associated with this facility was $2.2 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 were no interest expense associated with this facility for the three and nine months ended September 30, 2023. Interest expense related to this facility was $1.6 million for the nine months ended September 30, 2022. Additionally, the Company previously capitalized $0.9 million in debt issuance costs in connection with this facility. There were no amortized debt issuance costs associated with this facility for the three and nine months ended September 30, 2023. Amortized debt issuance costs associated with this facility were $0.1 million for the nine months ended September 30, 2022, respectively. As of September 30, 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. There was no interest expense related to this facility for the three months ended September 30, 2023. Interest expense related to this facility was $0.1 million for the three months ended September 30, 2022. Interest expense related to this facility was $6 thousand and $0.3 million for the nine months ended September 30, 2023 and 2022, respectively. Additionally, the Company previously capitalized $1.1 million in debt issuance costs in connection with this facility. There were $9 thousand and $0.1 million amortized debt issuance costs associated with this facility for three months ended September 30, 2023 and 2022, respectively. Amortized debt issuance costs associated with this facility were $0.2 million and $0.2 million for the nine months ended September 30, 2023 and 2022, respectively. As of September 30, 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 were $0.2 million. Revolving line of credit - Opportunity Funding SPE IX, LLC Interest expense related to this facility was $3.1 million and $8.9 million for the three and nine months ended September 30, 2023, respectively. Additionally, the Company previously capitalized $2.5 million in debt issuance costs in connection with this facility. Amortized debt issuance costs associated with this facility were $0.2 million and $0.6 million for the three and nine months ended September 30, 2023, respectively. As of September 30, 2023 and December 31, 2022, the remaining balance of unamortized debt issuance costs associated with this facility was $1.8 million and $2.2 million, respectively. Revolving line of credit - Gray Rock SPV LLC Interest expense related to this facility was $1.7 million and $1.0 million for the three months ended September 30, 2023 and 2022, respectively, and $4.4 million and $1.5 million for the nine months ended September 30, 2023 and 2022, respectively. 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 were $39 thousand and $0.1 million for the three months ended September 30, 2023 and 2022, respectively, and $0.1 million and $0.1 million for the nine months ended September 30, 2023 and 2022, respectively. As of September 30, 2023 and December 31, 2022, the remaining balance of unamortized debt issuance costs associated with this facility was $0.2 million and $0.4 million, respectively. Term loan, net As of September 30, 2023 and December 31, 2022, the outstanding balance of $50.0 million was net of unamortized debt issuance costs of $0.7 million and $1.0 million, respectively. On June 30, 2023, LIBOR was phased out. As such, the senior secured multi-draw term loan agreement is subject to the synthetic LIBOR rates until the senior secured multi-draw term loan agreement is amended. Interest expense related to this facility was $2.0 million and $1.6 million for the three months ended September 30, 2023 and 2022, respectively, and $5.7 million and $4.6 million for the nine months ended September 30, 2023 and 2022, respectively. 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 and $0.2 million for the three months ended September 30, 2023 and 2022, respectively, and $0.4 million and $0.4 million for the nine months ended September 30, 2023 and 2022, respectively. Notes payable: In August 2023, OppFi entered into a financing agreement for the financing of new insurance premiums totaling $2.4 million payable in ten monthly installments of $0.2 million through June 15, 2024. Interest expense related to these notes payable was $26 thousand and $2 thousand for the three months ended September 30, 2023 and 2022, respectively, and $77 thousand and $4 thousand for the nine months ended September 30, 2023 and 2022, respectively. As of September 30, 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 $ 724 2024 1,449 2025 50,000 2026 — 2027 — 2028 — Total $ 52,173

Warrant Liabilities

Warrant Liabilities	9 Months Ended
	Sep. 30, 2023
Warrants and Rights Note Disclosure [Abstract]
Warrant Liabilities	Warrant LiabilitiesAs of September 30, 2023 and December 31, 2022, there were 11,887,500 Public Warrants and 3,451,937 Private Placement Warrants outstanding. As of September 30, 2023 and December 31, 2022, the Company recorded warrant liabilities of $1.1 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 $0.2 million and $0.1 million, respectively, for the three months ended September 30, 2023 and was decreased by $0.6 million and $0.2 million, respectively, for the nine months ended September 30, 2023. The change in fair value of the Public Warrants and Private Placement Warrants was decreased by $0.9 million and $0.4 million, respectively, for the three months ended September 30, 2022 and was decreased by $5.2 million and $1.8 million, respectively, for the nine months ended September 30, 2022.

Stockholders_ Equity

Stockholders’ Equity	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2023. During the three months ended September 30, 2022, OppFi repurchased 88,262 shares of Class A Common Stock, which were held as treasury stock as of September 30, 2022, at an average purchase price of $3.46 per share for an aggregate purchase price of $0.3 million. During the nine months ended September 30, 2022, OppFi repurchased 703,914 shares of Class A Common Stock, which were held as treasury stock as of September 30, 2022, at an average purchase price of $3.47 per share for an aggregate purchase price of $2.5 million. As of September 30, 2023, $17.5 million of the repurchase authorization under the Repurchase Program remained available.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation On July 20, 2021, OppFi established the OppFi Inc. 2021 Equity Incentive Plan (“Plan”), which provides for the grant of awards in the form of options, stock appreciation rights, restricted stock awards, restricted stock units, performance shares, performance units, cash-based awards, and other stock-based awards to employees, non-employee directors, officers, and consultants. As of September 30, 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 September 30, 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 nine months ended September 30, 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 (89,218) 4.03 — — Outstanding as of September 30, 2023 1,889,754 $ 13.41 7.8 $ — Exercisable as of September 30, 2023 1,373,245 $ 14.18 7.8 $ — The Company recognized stock-based compensation expense related to stock options of $0.2 million and negative stock-based compensation expense related to stock options of $0.1 million due to forfeitures for the three months ended September 30, 2023 and 2022, respectively. The Company recognized stock-based compensation expense related to stock options of $0.5 million and negative stock-based compensation expense related to stock options of $0.1 million due to forfeitures for the nine months ended September 30, 2023 and 2022, respectively. As of September 30, 2023 and December 31, 2022, the Company had unrecognized stock-based compensation related to stock options of $1.1 million and $1.7 million, respectively, that is expected to be recognized over an estimated weighted average period of approximately 2.0 years and 2.8 years, respectively. Restricted stock units: A summary of the Company’s RSU activity for the nine months ended September 30, 2023 is as follows: Shares Weighted- Average Grant Date Fair Value Unvested as of December 31, 2022 2,174,842 $ 4.23 Granted 665,393 2.32 Vested (809,561) 3.94 Forfeited (248,754) 3.92 Unvested as of September 30, 2023 1,781,920 $ 3.55 The Company recognized stock-based compensation related to RSUs of $0.9 million and $0.3 million for the three months ended September 30, 2023 and 2022, respectively, and $2.5 million and $1.4 million for the nine months ended September 30, 2023 and 2022, respectively. As of September 30, 2023 and December 31, 2022, total unrecognized compensation expense related to RSUs was $5.9 million and $8.1 million, respectively, which will be recognized over a weighted average vesting period of approximately 2.5 years and 2.9 years, respectively. Performance stock units: A summary of the Company’s PSU activity for the nine months ended September 30, 2023 is as follows: Shares Weighted-Average Grant Date Fair Value Unvested as of December 31, 2022 329,738 $ 3.46 Granted — — Vested (59,876) 3.63 Performance adjustment (1) (129,026) 3.34 Forfeited — — Unvested as of September 30, 2023 140,836 $ 3.42 (1) This represents adjustments made to PSUs reflecting changes in estimates based upon our current performance against predefined financial targets. The Company recognized stock-based compensation related to PSUs of $0.1 million and $0.3 million for the three months ended September 30, 2023 and 2022, respectively, and $0.1 million and $0.4 million for the nine months ended September 30, 2023 and 2022, respectively. As of September 30, 2023 and December 31, 2022, total unrecognized compensation expense related to PSUs was $0.2 million and $0.7 million, respectively, which will be recognized over a weighted average vesting period of approximately 2.5 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 September 30, 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 September 30, 2023, there were 234,249 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. As of September 30, 2023 and December 31, 2022, ESPP employee payroll contributions accrued of $0.1 million and $0.2 million, respectively, are included within accrued expenses on the consolidated balance sheets. Payroll contributions accrued as of September 30, 2023 will be used to purchase shares at the end of the ESPP offering period ended December 31, 2023. Payroll contributions ultimately used to purchase shares are reclassified to stockholders’ equity on the purchase date.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended September 30, 2023, OppFi recorded an income tax expense of $0.5 million and reported consolidated income before income taxes of $16.0 million, resulting in a 2.8% effective income tax rate. For the three months ended September 30, 2022, OppFi recorded an income tax expense of $1.0 million and reported consolidated income before income taxes of $0.4 million, resulting in a 286% effective income tax rate. For the nine months ended September 30, 2023, OppFi recorded an income tax expense of $1.3 million and reported consolidated income before income taxes of $38.8 million, resulting in a 3.3% effective income tax rate. For the nine months ended September 30, 2022, OppFi recorded an income tax expense of $1.8 million and reported consolidated income before income taxes of $10.3 million, resulting in a 17.1% effective income tax rate. OppFi’s effective income tax rates for the three and nine months ended September 30, 2023 and 2022, 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, warrant liability, and discrete tax items. The warrant liability is recorded by OppFi and is a fair market value adjustment of the warrant liability and is a permanent difference between GAAP and taxable income, which impacts OppFi’s effective income tax rate. For the three months ended September 30, 2023, there was one discrete item recorded, which consisted of a $45 thousand benefit related to stock compensation, which in total decreased the effective tax rate by 0.3%. Excluding the aforementioned discrete item, the effective tax rate for the three months ended September 30, 2023 would have been 3.1%. For the three months ended September 30, 2022, Gray Rock SPV LLC’s income was included in the noncontrolling interest adjustment, because its activity was included in income before income taxes, but excluded from taxation at the Company as Gray Rock SPV LLC is not owned by the Company or OppFi-LLC. For the nine months ended September 30, 2023, there were three discrete items recorded, which consist of a $7 thousand adjustment related to a prior period state tax adjustment during the three months ended March 31, 2023, and a $48 thousand benefit related to stock compensation, which in total decreased the effective tax rate by 0.1%. Excluding the aforementioned discrete item, the effective tax rates for the nine months ended September 30, 2023 would have been 3.4%. For the nine months ended September 30, 2022, there were two discrete items recorded, which consist of a $0.5 million adjustment related to a prior period stock compensation during the three months ended March 31, 2022 and a $0.1 million adjustment related to the vesting of RSUs and the calculated tax shortfall during the three months ended September 30, 2022. 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 September 30, 2023, OppFi owned 15.7% 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 September 30, 2023 and December 31, 2022, OppFi recorded an unrecognized tax benefit of $45 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 September 30, 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	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2023 and 2022 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Interest expense $ 11,483 $ 8,513 $ 32,807 $ 22,795 Amortized debt issuance costs 594 582 1,872 1,626 Interest expense and amortized debt issuance costs $ 12,077 $ 9,095 $ 34,679 $ 24,421

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value on a nonrecurring basis : The Company has no assets or liabilities measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances. Fair value measurement on a recurring basis : The Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2023 and December 31, 2022 are as follows (in thousands): Fair Value Measurements September 30, 2023 Level 1 Level 2 Level 3 Financial assets: Finance receivables at fair value, excluding accrued interest and fees receivable (1) $ 450,059 $ — $ — $ 450,059 Financial liabilities: Warrant liability - Public Warrants (2) 594 594 — — Warrant liability - Private Placement Warrants (3) 456 — — 456 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 and nine months ended September 30, 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 September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Interest rate on finance receivables 155.39 % 152.39 % Discount rate 26.29 % 25.89 % Servicing cost* 3.21 % 5.01 % Remaining life 0.62 years 0.59 years Default rate* 24.40 % 20.27 % Accrued interest* 3.94 % 3.93 % Prepayment rate* 21.09 % 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 September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Input $11.50 Exercise $15 Exercise $11.50 Exercise $15 Exercise Risk-free interest rate 4.79 % 4.55 % 4.11 % 3.88 % Expected term (years) 2.8 years 7.8 years 3.5 years 8.5 years Expected volatility 45.00 % 45.00 % 53.90 % 53.90 % Exercise price $ 11.50 $ 15.00 $ 11.50 $ 15.00 Fair value of warrants $ 0.05 $ 0.36 $ 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 Change in fair value (76) (37) (113) Fair value as of June 30, 2023 178 374 552 Change in fair value (51) (45) (96) Fair value as of September 30, 2023 $ 127 $ 329 $ 456 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 September 30, 2023 and December 31, 2022 (in thousands): Fair Value Measurements September 30, 2023 Level 1 Level 2 Level 3 Assets: Cash $ 31,125 $ 31,125 $ — $ — Restricted cash 34,902 34,902 — — Accrued interest and fees receivable 16,406 16,406 — — Finance receivables at amortized cost, net 209 — — 209 Settlement receivable 2,902 2,902 — — Liabilities: Senior debt, net 342,172 — — 342,172 Notes payable 2,173 — — 2,173 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 — — Assets held for sale 550 — — 550 Liabilities: Secured borrowing payable 756 — — 756 Senior debt, net 344,688 — — 344,688 Notes payable 1,616 — — 1,616

Commitments, Contingencies and

Commitments, Contingencies and Related Party Transactions	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies and Related Party Transactions	Commitments, Contingencies and Related Party Transactions Legal contingencies: Due to the nature of its business activities, the Company is subject to extensive regulations and legal actions and is currently involved in certain legal proceedings, including class action allegations, and regulatory matters, which arise in the normal course of business. In accordance with applicable accounting guidance, the Company establishes an accrued liability for legal proceedings and regulatory matters when those matters present loss contingencies which are both probable and reasonably estimable. The Company has received inquiries from certain agencies and states on its lending compliance, the validity of the bank partnership model, and its ability to facilitate the servicing of bank originated loans. Management is confident that its lending practices and the bank partnership structure, in addition to the Company’s technologies, services, and overall relationship with its bank partners, complies with state and federal laws. However, the inquiries are still in process and the outcome is unknown at this time. The Company is vigorously defending all legal proceedings and regulatory matters. Except as described below, management does not believe that the resolution of any currently pending legal proceedings and regulatory matters will have a material adverse effect on the Company’s financial condition, results of operations, or cash flows. On November 18, 2021, the Company entered into a Consent Judgement and Order (“Settlement”) with the Attorney General of the District of Columbia (“District”) to resolve all matters in a dispute related to the action previously filed against the Company by the District (“Action”). The Company denies the allegations in the Action and denies that it has violated any law or engaged in any deceptive or unfair practices. The Action was resolved to avoid the expense of protracted litigation. As part of the Settlement, the Company agreed to, among other things, refrain from certain business activities in the District of Columbia, pay $0.3 million to the District of Columbia and provide refunds totaling $1.5 million to certain District of Columbia consumers. During the nine months ended September 30, 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 Complaint seeks a declaration that the interest rate caps set forth in the California Financing Law, as amended by the Fair Access to Credit Act, a/k/a AB 539 (“CFL”), do not apply to loans that are originated by the Company’s federally-insured state-chartered bank partners and serviced through the Company’s technology and service platform pursuant to a contractual arrangement with each such bank (“Program”). The Complaint further seeks injunctive relief against the Defendant, preventing the Defendant from enforcing interest rate caps under the CFL against the Company based on activities related to the Program. On April 8, 2022, the Defendant filed a cross-complaint against the Company attempting to enforce the CFL against the Company and, among other things, void loans that are originated by the Company’s federally-insured state-chartered bank partners through the Program in California and seek financial penalties against the Company. On October 17, 2022, the Company filed a cross-complaint against the Defendant seeking declaratory relief for issuing an underground regulation to determine the “true lender” under the CFL without complying with California’s Administrative Procedures Act. On January 30, 2023, the Commissioner filed a motion for a preliminary injunction seeking to enjoin the Company from providing services to FinWise in connection with loans made to California consumers to the extent that such loans are in excess of California’s interest rate caps. On September 26, 2023, the Court sustained the Commissioner’s demurrer to the Company’s cross-complaint with leave to amend. On October 26, 2023, the Company filed its amended cross-complaint. On October 30, 2023, the Commissioner’s motion for preliminary injunction was denied. The Company intends to continue to aggressively prosecute the claims set forth in the Complaint and vigorously defend itself and its position as the matter proceeds through the court process. The Company believes that the Defendant’s position is without merit as explained in the Company’s initial Complaint. On July 20, 2023, a stockholder filed a putative class action complaint in the Court of Chancery of the State of Delaware (Case No. 2023-0737) on behalf of a purported class of Company stockholders naming certain of FGNA’s former directors and officers and its controlling stockholder, FG New America Investors, LLC (the “Sponsor”), as defendants. The lawsuit alleges that the defendants breached their fiduciary duties to the stockholders of FGNA stemming from FGNA’s merger with OppFi-LLC and that the defendants were unjustly enriched. The lawsuit seeks, among other relief, unspecified damages, redemption rights, and attorneys’ fees. Neither the Company nor any of the Company’s current officers or directors are parties to the lawsuit. The Company is obligated to indemnify certain of the defendants in the action. The Company has tendered defense of this action under its directors’ and officers' insurance policy. Due to the early stage of this case, neither the likelihood that a loss, if any, will be realized, nor an estimate of the possible loss or range of loss, if any, can be determined. Related party transactions: In connection with the Business Combination, OppFi entered into the Tax Receivable Agreement with the Members and the Members’ Representative (the “Tax Receivable Agreement”). The Tax Receivable Agreement provides for payment to the Members of 90% of the U.S. federal, state and local income tax savings realized by the Company as a result of the increases in tax basis and certain other tax benefits related to the transactions contemplated under the Business Combination Agreement and the exchange of Retained OppFi Units for Class A Common Stock or cash.

Concentration of Credit Risk

Concentration of Credit Risk	9 Months Ended
	Sep. 30, 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 September 30, 2023, consumers living primarily in Texas, Florida and Virginia made up approximately 16%, 13% and 11%, respectively, of the Company’s portfolio of finance receivables. As of September 30, 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	9 Months Ended
	Sep. 30, 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 September 30, 2023 and 2022, respectively, and $1.2 million and $1.2 million for the nine months ended September 30, 2023 and 2022, respectively.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share The following table sets forth the computation of basic and diluted earnings (loss) per share for the three and nine months ended September 30, 2023 and 2022 (in thousands, except share and per share data): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Numerator: Net income (loss) attributable to OppFi Inc. $ 2,169 $ (571) $ 4,562 $ 3,963 Net income (loss) available to Class A common stockholders - Basic 2,169 (571) 4,562 3,963 Net income attributable to noncontrolling interest 35 — 68 4,576 Income tax expense (8) — (16) (1,105) Net income (loss) available to Class A common stockholders - Diluted $ 2,196 $ (571) $ 4,614 $ 7,434 Denominator: Weighted average Class A common stock outstanding - Basic 16,772,275 13,972,971 15,820,262 13,694,733 Effect of dilutive securities: Stock options — — — — Restricted stock units 235,514 — 198,698 123,722 Performance stock units 49,989 — 27,871 11,986 Warrants — — — — Employee stock purchase plan — — — — Retained OppFi Units, excluding Earnout Units — — — 70,446,836 Dilutive potential common shares 285,503 — 226,569 70,582,544 Weighted average units outstanding - diluted 17,057,778 13,972,971 16,046,831 84,277,277 Earnings (loss) per share: Basic $ 0.13 $ (0.04) $ 0.29 $ 0.29 Diluted $ 0.13 $ (0.04) $ 0.29 $ 0.09 The following table presents securities that have been excluded from the calculation of diluted earnings (loss) per share as their effect would have been anti-dilutive for the three and nine months ended September 30, 2023 and 2022: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Public Warrants 11,887,500 11,887,500 11,887,500 11,887,500 Private Unit Warrants 231,250 231,250 231,250 231,250 $11.50 Exercise Price Warrants 2,248,750 2,248,750 2,248,750 2,248,750 $15 Exercise Price Warrants 912,500 912,500 912,500 912,500 Underwriter Warrants 59,437 59,437 59,437 59,437 Stock Options 1,889,754 1,978,972 1,949,233 2,178,347 Restricted stock units 1,874,078 2,545,635 2,071,183 1,718,129 Performance stock units 143,897 448,720 201,845 217,730 Noncontrolling interest - Earnout Units 25,500,000 25,500,000 25,500,000 25,500,000 Noncontrolling interest - OppFi Units 68,230,327 69,659,100 68,779,582 — Potential common stock 112,977,493 115,471,864 113,841,280 44,953,643

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 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 has not identified any subsequent events that required disclosure.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 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 2022 Annual Report. In the opinion of the Company’s management, these unaudited consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary for the fair statement of the results and financial position for the periods presented. The results of operations for the three and nine months ended September 30, 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 obligations	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 nine months ended September 30, 2023 and 2022, finance receivables originated through the bank partnership arrangements totaled 96% and 94%, respectively. As of September 30, 2023 and December 31, 2022, the unpaid principal balance of finance receivables outstanding for purchase was $10.8 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 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.
Assets held for sale	Assets held for sale: Assets held for sale are assets which management has the intent to sell in the foreseeable future, and are carried at the lower of aggregate cost or fair value, less estimated costs to sell, in the period in which the held for sale criteria are met and every subsequent period until the asset is sold. The carrying amount of the asset is adjusted for subsequent increases or decreases in its fair value, less estimated cost to sell, except that any subsequent increase cannot exceed the cumulative loss previously recognized. Such assets are not depreciated or amortized while they are classified as held for sale. Realized gains and losses on the sale of the asset are recognized when the asset is sold and are determined by the difference between the sale proceeds and the carrying value of the asset. Assets classified as held for sale as of December 31, 2022 comprised the Company’s OppFi Card finance receivables. 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 and have been reclassified from held for sale to held for investment, which is included in finance receivables at amortized cost in the consolidated balance sheets. Upon transfer of the Company’s OppFi Card finance receivables from held for sale to held for investment, the Company reversed its previously recorded valuation allowance on being held for sale totaling $2.3 million and established an allowance for credit losses on being held for investment totaling $2.6 million.
Capitalized technology	Capitalized technology: The Company capitalized software costs associated with application development totaling $2.2 million and $3.1 million for the three months ended September 30, 2023 and 2022, respectively, and $6.7 million and $9.9 million for the nine months ended September 30, 2023 and 2022, respectively. Amortization expense, which is included in depreciation and amortization on the consolidated statements of operations, totaled $2.9 million and $3.3 million for three months ended September 30, 2023 and 2022, respectively, and $9.2 million and $9.4 million for the nine months ended September 30, 2023 and 2022, respectively.
Noncontrolling interests	Noncontrolling interests: Noncontrolling interests are held by the Members, who retained 84.3% and 86.5% of the economic ownership percentage of OppFi-LLC as of September 30, 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. 2021-01 is to expand guidance on contract modifications and hedge accounting. In December 2022, the FASB issued ASU No. 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848. The purpose of ASU No. 2022-06 is to defer the effective date of the provisions of ASU 2020-04 from December 31, 2022 to December 31, 2024. The amendments and expedients in these updates are effective as of March 12, 2020 through December 31, 2024 and may be elected by topic. The Company is currently evaluating the impact of ASU No. 2020-04, 2021-01 and 2022-06 on the Company’s consolidated financial statements.

Finance Receivables (Tables)

Finance Receivables (Tables)	9 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
Schedule of Installment Finance Receivables at Fair Value	The components of installment finance receivables at fair value as of September 30, 2023 and December 31, 2022 were as follows (in thousands): September 30, 2023 December 31, 2022 Unpaid principal balance of finance receivables - accrual $ 385,893 $ 369,643 Unpaid principal balance of finance receivables - non-accrual 30,040 32,537 Unpaid principal balance of finance receivables $ 415,933 $ 402,180 Finance receivables at fair value - accrual $ 445,139 $ 436,552 Finance receivables at fair value - non-accrual 4,920 4,944 Finance receivables at fair value, excluding accrued interest and fees receivable 450,059 441,496 Accrued interest and fees receivable 16,406 15,800 Finance receivables at fair value $ 466,465 $ 457,296 Difference between unpaid principal balance and fair value $ 34,126 $ 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 and nine months ended September 30, 2023 and 2022 were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Balance at the beginning of the period $ 446,956 $ 450,703 $ 457,296 $ 383,890 Originations 192,906 185,092 539,152 550,483 Repayments (118,411) (109,519) (366,126) (318,677) Accrued interest and fees receivable 2,316 2,390 606 4,649 Charge-offs, net (1) (56,315) (67,709) (159,273) (161,479) Net change in fair value (1) (987) (2,892) (5,190) (801) Balance at the end of the period $ 466,465 $ 458,065 $ 466,465 $ 458,065 (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 September 30, 2023 and December 31, 2022 were as follows (in thousands): September 30, 2023 December 31, 2022 Finance receivables $ 2,355 $ 730 Accrued interest and fees 3 9 Unearned annual fee income (66) — Allowance for credit losses (2,083) (96) Finance receivables at amortized cost, net $ 209 $ 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 and nine months ended September 30, 2023 and 2022 were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Beginning balance $ 2,411 $ 1,045 $ 96 $ 803 Provisions for credit losses on finance receivables 195 1,017 4,131 2,043 Finance receivables charged off (535) (831) (2,159) (1,615) Recoveries of charge offs 12 1 15 1 Ending balance $ 2,083 $ 1,232 $ 2,083 $ 1,232
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 September 30, 2023 and December 31, 2022 (in thousands): September 30, 2023 December 31, 2022 Recency delinquency Contractual delinquency Recency delinquency Contractual delinquency Current $ 1,697 $ 1,659 $ 638 $ 585 Delinquency 30-59 days 130 132 45 44 60-89 days 97 104 47 59 90+ days 431 460 — 42 Total delinquency 658 696 92 145 Finance receivables $ 2,355 $ 2,355 $ 730 $ 730

Property, Equipment and Softw_2

Property, Equipment and Software, Net (Tables)	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property, Equipment and Software	Property, equipment and software consisted of the following (in thousands): September 30, 2023 December 31, 2022 Capitalized technology $ 53,443 $ 46,760 Furniture, fixtures and equipment 3,825 3,680 Leasehold improvements 979 979 Total property, equipment and software 58,247 51,419 Less accumulated depreciation and amortization (47,149) (37,380) Property, equipment and software, net $ 11,098 $ 14,039

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consisted of the following (in thousands): September 30, 2023 December 31, 2022 Accrual for services rendered and goods purchased $ 9,518 $ 8,589 Accrued payroll and benefits 5,737 8,646 Other 6,648 5,985 Total $ 21,903 $ 23,220

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Schedule of Components of Lease Costs/Weighted Average Remaining Lease Term and Discount Rate	The components of lease costs are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Operating lease cost $ 1,101 $ 1,084 $ 3,299 $ 3,209 Sublease income (80) — (239) — Total lease cost $ 1,021 $ 1,084 $ 3,060 $ 3,209 The weighted average remaining lease term and discount rate as of September 30, 2023 are as follows: Weighted average remaining lease term (in years) 7.0 Weighted average discount rate 5 %
Schedule of Future Minimum Lease Payments	Future minimum lease payments as of September 30, 2023 are as follows (in thousands): Year Amount Remainder of 2023 $ 633 2024 2,470 2025 2,482 2026 2,557 2027 2,633 2028 2,712 Thereafter 4,937 Total lease payments 18,424 Less: imputed interest (2,920) Operating lease liability $ 15,504

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Borrowings	The following is a summary of the Company’s outstanding borrowings as of September 30, 2023 and December 31, 2022, including borrowing capacity as of September 30, 2023 (in thousands): Purpose Borrower Borrowing Capacity September 30, 2023 December 31, 2022 Interest Rate as of September 30, 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) $ — $ — $ 37,500 SOFR plus 7.36% April 2024 (1) Revolving line of credit Opportunity Funding SPE V, LLC (Tranche B) 125,000 109,300 121,647 SOFR plus 6.75% June 2026 (2) Revolving line of credit Opportunity Funding SPE V, LLC (Tranche C) 125,000 37,500 — SOFR plus 7.50% July 2027 Revolving line of credit Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC — — — SOFR plus 0.11% plus 3.85% February 2024 (3) Revolving line of credit Opportunity Funding SPE IX, LLC 150,000 93,871 91,871 SOFR plus 7.50% December 2026 Revolving line of credit Gray Rock SPV LLC 75,000 52,156 44,716 SOFR plus 7.25% April 2025 Total revolving lines of credit 475,000 292,827 295,734 Term loan, net OppFi-LLC 50,000 49,345 48,954 LIBOR plus 10.00% March 2025 Total senior debt, net $ 525,000 $ 342,172 $ 344,688 Notes payable Financed insurance premium OppFi-LLC $ — $ — $ 1,616 7.07% July 2023 Financed insurance premium OppFi-LLC 2,173 2,173 — 9.70% June 2024 Total notes payable $ 2,173 $ 2,173 $ 1,616 (1) Maturity date as of December 31, 2022 and for the subsequent period until Tranche A of this revolving line of credit was terminated in July 2023. (2) Borrower included Opportunity Funding SPE VII, LLC until the revolving line of credit was amended in July 2023. (3) Maturity date as of December 31, 2022 and for the subsequent period until the revolving line of credit was terminated in February 2023.
Summary of Required Payments for Borrowings, Excluding Secured Borrowing and Revolving Lines of Credit	As of September 30, 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 $ 724 2024 1,449 2025 50,000 2026 — 2027 — 2028 — Total $ 52,173

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Company's Stock Option, Activity	A summary of the Company’s stock option activity for the nine months ended September 30, 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 (89,218) 4.03 — — Outstanding as of September 30, 2023 1,889,754 $ 13.41 7.8 $ — Exercisable as of September 30, 2023 1,373,245 $ 14.18 7.8 $ —
Schedule of Restricted Stock Unit, Activity	A summary of the Company’s RSU activity for the nine months ended September 30, 2023 is as follows: Shares Weighted- Average Grant Date Fair Value Unvested as of December 31, 2022 2,174,842 $ 4.23 Granted 665,393 2.32 Vested (809,561) 3.94 Forfeited (248,754) 3.92 Unvested as of September 30, 2023 1,781,920 $ 3.55
Schedule of PSU Activity	A summary of the Company’s PSU activity for the nine months ended September 30, 2023 is as follows: Shares Weighted-Average Grant Date Fair Value Unvested as of December 31, 2022 329,738 $ 3.46 Granted — — Vested (59,876) 3.63 Performance adjustment (1) (129,026) 3.34 Forfeited — — Unvested as of September 30, 2023 140,836 $ 3.42 (1) This represents adjustments made to PSUs reflecting changes in estimates based upon our current performance against predefined financial targets.

Interest Expense and Amortize_2

Interest Expense and Amortized Debt Issuance Costs (Tables)	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2023 and 2022 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Interest expense $ 11,483 $ 8,513 $ 32,807 $ 22,795 Amortized debt issuance costs 594 582 1,872 1,626 Interest expense and amortized debt issuance costs $ 12,077 $ 9,095 $ 34,679 $ 24,421

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2023 and December 31, 2022 are as follows (in thousands): Fair Value Measurements September 30, 2023 Level 1 Level 2 Level 3 Financial assets: Finance receivables at fair value, excluding accrued interest and fees receivable (1) $ 450,059 $ — $ — $ 450,059 Financial liabilities: Warrant liability - Public Warrants (2) 594 594 — — Warrant liability - Private Placement Warrants (3) 456 — — 456 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 and nine months ended September 30, 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 September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Interest rate on finance receivables 155.39 % 152.39 % Discount rate 26.29 % 25.89 % Servicing cost* 3.21 % 5.01 % Remaining life 0.62 years 0.59 years Default rate* 24.40 % 20.27 % Accrued interest* 3.94 % 3.93 % Prepayment rate* 21.09 % 21.33 % *Stated as a percentage of finance receivables The following table presents the significant assumptions used in the simulation at September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Input $11.50 Exercise $15 Exercise $11.50 Exercise $15 Exercise Risk-free interest rate 4.79 % 4.55 % 4.11 % 3.88 % Expected term (years) 2.8 years 7.8 years 3.5 years 8.5 years Expected volatility 45.00 % 45.00 % 53.90 % 53.90 % Exercise price $ 11.50 $ 15.00 $ 11.50 $ 15.00 Fair value of warrants $ 0.05 $ 0.36 $ 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 Change in fair value (76) (37) (113) Fair value as of June 30, 2023 178 374 552 Change in fair value (51) (45) (96) Fair value as of September 30, 2023 $ 127 $ 329 $ 456
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 September 30, 2023 and December 31, 2022 (in thousands): Fair Value Measurements September 30, 2023 Level 1 Level 2 Level 3 Assets: Cash $ 31,125 $ 31,125 $ — $ — Restricted cash 34,902 34,902 — — Accrued interest and fees receivable 16,406 16,406 — — Finance receivables at amortized cost, net 209 — — 209 Settlement receivable 2,902 2,902 — — Liabilities: Senior debt, net 342,172 — — 342,172 Notes payable 2,173 — — 2,173 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 — — Assets held for sale 550 — — 550 Liabilities: Secured borrowing payable 756 — — 756 Senior debt, net 344,688 — — 344,688 Notes payable 1,616 — — 1,616

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings (loss) Per Share	The following table sets forth the computation of basic and diluted earnings (loss) per share for the three and nine months ended September 30, 2023 and 2022 (in thousands, except share and per share data): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Numerator: Net income (loss) attributable to OppFi Inc. $ 2,169 $ (571) $ 4,562 $ 3,963 Net income (loss) available to Class A common stockholders - Basic 2,169 (571) 4,562 3,963 Net income attributable to noncontrolling interest 35 — 68 4,576 Income tax expense (8) — (16) (1,105) Net income (loss) available to Class A common stockholders - Diluted $ 2,196 $ (571) $ 4,614 $ 7,434 Denominator: Weighted average Class A common stock outstanding - Basic 16,772,275 13,972,971 15,820,262 13,694,733 Effect of dilutive securities: Stock options — — — — Restricted stock units 235,514 — 198,698 123,722 Performance stock units 49,989 — 27,871 11,986 Warrants — — — — Employee stock purchase plan — — — — Retained OppFi Units, excluding Earnout Units — — — 70,446,836 Dilutive potential common shares 285,503 — 226,569 70,582,544 Weighted average units outstanding - diluted 17,057,778 13,972,971 16,046,831 84,277,277 Earnings (loss) per share: Basic $ 0.13 $ (0.04) $ 0.29 $ 0.29 Diluted $ 0.13 $ (0.04) $ 0.29 $ 0.09
Schedule of Antidilutive Securities Excluded from Calculation of Earnings (loss) Per Share	The following table presents securities that have been excluded from the calculation of diluted earnings (loss) per share as their effect would have been anti-dilutive for the three and nine months ended September 30, 2023 and 2022: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Public Warrants 11,887,500 11,887,500 11,887,500 11,887,500 Private Unit Warrants 231,250 231,250 231,250 231,250 $11.50 Exercise Price Warrants 2,248,750 2,248,750 2,248,750 2,248,750 $15 Exercise Price Warrants 912,500 912,500 912,500 912,500 Underwriter Warrants 59,437 59,437 59,437 59,437 Stock Options 1,889,754 1,978,972 1,949,233 2,178,347 Restricted stock units 1,874,078 2,545,635 2,071,183 1,718,129 Performance stock units 143,897 448,720 201,845 217,730 Noncontrolling interest - Earnout Units 25,500,000 25,500,000 25,500,000 25,500,000 Noncontrolling interest - OppFi Units 68,230,327 69,659,100 68,779,582 — Potential common stock 112,977,493 115,471,864 113,841,280 44,953,643

Organization and Nature of Op_2

Organization and Nature of Operations (Details) - $ / shares	Sep. 30, 2023	Dec. 31, 2022	Jul. 20, 2021
Class of Stock [Line Items]
Ownership interest held, percent	15.70%	13.50%
Class A Common Stock
Class of Stock [Line Items]
Common stock, par or stated value per share (in dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001
Class V Voting Stock
Class of Stock [Line Items]
Common stock, par or stated value per share (in dollars per share)	$ 0.0001	$ 0.0001

Significant Accounting Polici_3

Significant Accounting Policies - Additional Information (Detail) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) segment	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Accounting Policies [Abstract]
Number of reportable segments | segment			1
Finance receivables originated through the bank partnership arrangements, percentage			96%	94%
Finance receivables originated through the bank partnership arrangements	$ 10.8		$ 10.8		$ 11.2
Accrual period for financing receivables			60 days
Valuation allowance on being held for sale			$ 2.3
Allowance for credit losses	2.6		2.6
Development and capitalized software costs	2.2	$ 3.1	6.7	$ 9.9
Capitalized software costs, amortization expense	$ 2.9	$ 3.3	$ 9.2	$ 9.4
Existing Equity Holders
Schedule Of Reverse Recapitalization [Line Items]
Ownership interest retained	84.30%		84.30%		86.50%

Finance Receivables - Schedule

Finance Receivables - Schedule of Components of Installment Finance Receivables At Fair Value (Details) - USD ($) $ in Thousands		Sep. 30, 2023	Dec. 31, 2022
Receivables [Abstract]
Unpaid principal balance of finance receivables - accrual		$ 385,893	$ 369,643
Unpaid principal balance of finance receivables - non-accrual		30,040	32,537
Unpaid principal balance of finance receivables		415,933	402,180
Finance receivables at fair value - accrual		445,139	436,552
Finance receivables at fair value - non-accrual		4,920	4,944
Finance receivables at fair value, excluding accrued interest and fees receivable		450,059	441,496
Accrued interest and fees receivable		16,406	15,800
Finance receivables at fair value	[1]	466,465	457,296
Difference between unpaid principal balance and fair value		$ 34,126	$ 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		9 Months Ended	12 Months Ended
		Sep. 30, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Accrual period for financing receivables		60 days
Aggregate unpaid principal balance		$ 415,933	$ 402,180
Fair value of receivables	[1]	466,465	457,296
Finance receivables at amortized cost in non-accrual status		$ 38	$ 100
Recency delinquency
Financing Receivable, Allowance for Credit Loss [Line Items]
Accrual period for financing receivables		60 days
Contractual delinquency
Financing Receivable, Allowance for Credit Loss [Line Items]
Accrual period for financing receivables		90 days	90 days
90+ days
Financing Receivable, Allowance for Credit Loss [Line Items]
Aggregate unpaid principal balance		$ 15,900	$ 17,600
Fair value of receivables		$ 2,500	$ 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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at the beginning of the period	$ 446,956	$ 450,703	$ 457,296	$ 383,890
Originations	192,906	185,092	539,152	550,483
Repayments	(118,411)	(109,519)	(366,126)	(318,677)
Accrued interest and fees receivable	2,316	2,390	606	4,649
Charge-offs, net	(56,315)	(67,709)	(159,273)	(161,479)
Net change in fair value	(987)	(2,892)	(5,190)	(801)
Balance at the end of the period	$ 466,465	$ 458,065	$ 466,465	$ 458,065

Finance Receivables - Schedul_3

Finance Receivables - Schedule of Finance Receivables (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Finance receivables	$ 2,355		$ 730
Accrued interest and fees	3		9
Unearned annual fee income	(66)		0
Allowance for credit losses	(2,083)	$ (2,411)	(96)	$ (1,232)	$ (1,045)	$ (803)
Finance receivables at amortized cost, net	$ 209		$ 643

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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 2,411	$ 1,045	$ 96	$ 803
Provisions for credit losses on finance receivables	195	1,017	4,131	2,043
Finance receivables charged off	(535)	(831)	(2,159)	(1,615)
Recoveries of charge offs	12	1	15	1
Ending balance	$ 2,083	$ 1,232	$ 2,083	$ 1,232

Finance Receivables - Summary_2

Finance Receivables - Summary of Credit Quality Finance Receivable Portfolio (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Finance receivables	$ 2,355	$ 730
Recency delinquency
Financing Receivable, Past Due [Line Items]
Finance receivables	2,355	730
Recency delinquency | Current
Financing Receivable, Past Due [Line Items]
Finance receivables	1,697	638
Recency delinquency | Total delinquency
Financing Receivable, Past Due [Line Items]
Finance receivables	658	92
Recency delinquency | 30-59 days
Financing Receivable, Past Due [Line Items]
Finance receivables	130	45
Recency delinquency | 60-89 days
Financing Receivable, Past Due [Line Items]
Finance receivables	97	47
Recency delinquency | 90+ days
Financing Receivable, Past Due [Line Items]
Finance receivables	431	0
Contractual delinquency
Financing Receivable, Past Due [Line Items]
Finance receivables	2,355	730
Contractual delinquency | Current
Financing Receivable, Past Due [Line Items]
Finance receivables	1,659	585
Contractual delinquency | Total delinquency
Financing Receivable, Past Due [Line Items]
Finance receivables	696	145
Contractual delinquency | 30-59 days
Financing Receivable, Past Due [Line Items]
Finance receivables	132	44
Contractual delinquency | 60-89 days
Financing Receivable, Past Due [Line Items]
Finance receivables	104	59
Contractual delinquency | 90+ days
Financing Receivable, Past Due [Line Items]
Finance receivables	$ 460	$ 42

Property, Equipment and Softw_3

Property, Equipment and Software, Net - Schedule of Property, Equipment and Software (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property, equipment and software	$ 58,247	$ 51,419
Less accumulated depreciation and amortization	(47,149)	(37,380)
Property, equipment and software, net	11,098	14,039
Capitalized technology
Property, Plant and Equipment [Line Items]
Property, equipment and software	53,443	46,760
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Property, equipment and software	3,825	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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 3.1	$ 3.5	$ 9.8	$ 10.1

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands		Sep. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrual for services rendered and goods purchased		$ 9,518	$ 8,589
Accrued payroll and benefits		5,737	8,646
Other		6,648	5,985
Total	[1]	$ 21,903	$ 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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Apr. 30, 2023	Dec. 31, 2022
Leases [Abstract]
Lease payments	$ 18,424,000		$ 18,424,000		$ 12,000
Right of use asset	12,587,000		12,587,000		200,000	$ 13,587,000
Operating lease liability	15,504,000		15,504,000		$ 200,000	16,558,000
Operating lease cost	1,101,000	$ 1,084,000	3,299,000	$ 3,209,000
Variable lease payment	500,000	500,000	1,500,000	1,500,000
Cash paid for amounts included in the measurement of lease liabilities, operating cash flows from operating leases	600,000	600,000	1,800,000	1,700,000
Letters of credit outstanding, amount	0		0			$ 0
Sublease income	$ 80,000	$ 0	$ 239,000	$ 0

Leases - Schedule of Components

Leases - Schedule of Components of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Operating lease cost	$ 1,101	$ 1,084	$ 3,299	$ 3,209
Sublease income	(80)	0	(239)	0
Total lease cost	$ 1,021	$ 1,084	$ 3,060	$ 3,209

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Apr. 30, 2023	Dec. 31, 2022
Leases [Abstract]
Remainder of 2023	$ 633
2024	2,470
2025	2,482
2026	2,557
2027	2,633
2028	2,712
Thereafter	4,937
Total lease payments	18,424	$ 12
Less: imputed interest	(2,920)
Operating lease liability	$ 15,504	$ 200	$ 16,558

Leases - Schedule of Weighted A

Leases - Schedule of Weighted Average Remaining Lease Term and Discount Rate (Details)	Sep. 30, 2023
Leases [Abstract]
Weighted average remaining lease term (in years)	7 years
Weighted average discount rate	5%

Borrowings - Schedule of Borrow

Borrowings - Schedule of Borrowings (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Term loan, net
Debt Instrument [Line Items]
Total	$ 52,173
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	$ 525,000
Total	342,172	344,688
Senior debt, net | Revolving Credit Facility
Debt Instrument [Line Items]
Borrowing Capacity	475,000
Total	$ 292,827	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	$ 0
Total	$ 0	37,500
Maturity Date	April 2024
Senior debt, net | Revolving Line Of Credit, Tranche B, Maturing June 2026, Opportunity Funding SPE V, LLC
Debt Instrument [Line Items]
Borrower	Opportunity Funding SPE V, LLC (Tranche B)
Borrowing Capacity	$ 125,000
Total	$ 109,300	121,647
Maturity Date	June 2026
Senior debt, net | Revolving Line Of Credit, Tranche C, Maturing July 2027, Opportunity Funding SPE V, LLC
Debt Instrument [Line Items]
Borrower	Opportunity Funding SPE V, LLC (Tranche C)
Borrowing Capacity	$ 125,000
Total	$ 37,500	0
Maturity Date	July 2027
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	$ 93,871	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	$ 52,156	44,716
Maturity Date	April 2025
Senior debt, net | Term loan, net
Debt Instrument [Line Items]
Borrower	OppFi-LLC
Borrowing Capacity	$ 50,000
Total	$ 49,345	48,954
Maturity Date	March 2025
Total notes payable
Debt Instrument [Line Items]
Borrowing Capacity	$ 2,173
Total	$ 2,173	1,616
Total notes payable | Financed Insurance Premium, OppFi-LLC, July 2023
Debt Instrument [Line Items]
Borrower	OppFi-LLC
Total		$ 1,616
Interest rate	7.07%
Maturity Date	July 2023
Total notes payable | Financed Insurance Premium, OppFi-LLC, June 2024
Debt Instrument [Line Items]
Borrower	OppFi-LLC
Borrowing Capacity	$ 2,173
Total	$ 2,173
Interest rate	9.70%
Maturity Date	June 2024
Secured Overnight Financing Rate (SOFR) | 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) | Senior debt, net | Revolving Line Of Credit, Tranche B, Maturing June 2026, Opportunity Funding SPE V, LLC
Debt Instrument [Line Items]
Basis spread on variable rate	6.75%
Secured Overnight Financing Rate (SOFR) | Senior debt, net | Revolving Line Of Credit, Tranche C, Maturing July 2027, Opportunity Funding SPE V, LLC
Debt Instrument [Line Items]
Basis spread on variable rate	7.50%
Secured Overnight Financing Rate (SOFR) | 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) | 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) | 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)				3 Months Ended		9 Months Ended
		Jul. 19, 2023 USD ($)	Feb. 16, 2023 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Aug. 31, 2023 USD ($) installment	Jul. 18, 2023 USD ($)	Dec. 31, 2022 USD ($)
Short-term Debt [Line Items]
Secured borrowing payable held by variable interest entity	[1]			$ 0		$ 0				$ 756,000
Interest expense				11,483,000	$ 8,513,000	32,807,000	$ 22,795,000
Amortized debt issuance costs				594,000	582,000	1,872,000	1,626,000
Debt issuance costs, net	[1]			4,217,000		4,217,000				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				0	100,000	10,000	1,300,000
Capitalized issuance costs						200,000
Amortized debt issuance costs				0	0	0	0
Debt issuance costs, net				0		0				0
Line of credit facility, maximum borrowing capacity				0		0
Senior debt, net
Short-term Debt [Line Items]
Capitalized issuance costs						2,200,000
Line of credit facility, maximum borrowing capacity				525,000,000		525,000,000
Senior debt, net | Revolving Line Of Credit, Maturing January 2024, Opportunity Funding SPE III, LLC
Short-term Debt [Line Items]
Interest expense				0	2,800,000	0	8,000,000
Amortized debt issuance costs				0	100,000	0	500,000
Debt issuance costs, net				0		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				4,700,000	2,900,000	13,600,000	5,500,000
Capitalized issuance costs						4,100,000
Amortized debt issuance costs				200,000	100,000	500,000	400,000
Debt issuance costs, net				2,200,000		2,200,000				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		0	1,600,000
Capitalized issuance costs						900,000
Amortized debt issuance costs				0		0	100,000
Debt issuance costs, net				0		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				0	100,000	6,000	300,000
Capitalized issuance costs						1,100,000
Amortized debt issuance costs				9,000	100,000	200,000	200,000
Debt issuance costs, net				0		0				200,000
Line of credit facility, maximum borrowing capacity				0		$ 0
Basis spread on variable rate						3.85%
Senior debt, net | Revolving Line Of Credit, Maturing February 2024, Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC | Secured Overnight Financing Rate (SOFR)
Short-term Debt [Line Items]
Basis spread on variable rate						0.11%
Senior debt, net | Revolving Line Of Credit, Maturing December 2026, Opportunity Funding SPE IX, LLC
Short-term Debt [Line Items]
Interest expense				3,100,000		$ 8,900,000
Capitalized issuance costs						2,500,000
Amortized debt issuance costs				200,000		600,000
Debt issuance costs, net				1,800,000		1,800,000				2,200,000
Line of credit facility, maximum borrowing capacity				150,000,000		$ 150,000,000
Senior debt, net | Revolving Line Of Credit, Maturing December 2026, Opportunity Funding SPE IX, LLC | Secured Overnight Financing Rate (SOFR)
Short-term Debt [Line Items]
Basis spread on variable rate						7.50%
Senior debt, net | Revolving Line Of Credit, Maturing April 2025, Gray Rock SPV, LLC
Short-term Debt [Line Items]
Interest expense				1,700,000	1,000,000	$ 4,400,000	1,500,000
Capitalized issuance costs						500,000
Amortized debt issuance costs				39,000	100,000	100,000	100,000
Debt issuance costs, net				200,000		200,000				400,000
Line of credit facility, maximum borrowing capacity				75,000,000		$ 75,000,000
Senior debt, net | Revolving Line Of Credit, Maturing April 2025, Gray Rock SPV, LLC | Secured Overnight Financing Rate (SOFR)
Short-term Debt [Line Items]
Basis spread on variable rate						7.25%
Senior debt, net | Term loan, net
Short-term Debt [Line Items]
Interest expense				2,000,000	1,600,000	$ 5,700,000	4,600,000
Capitalized issuance costs						2,400,000
Amortized debt issuance costs				200,000	200,000	400,000	400,000
Debt issuance costs, net				700,000		700,000				1,000,000
Line of credit facility, maximum borrowing capacity				50,000,000		50,000,000
Principal amount of debt				50,000,000		50,000,000				$ 50,000,000
Line of Credit | A&R Credit Agreement
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity		$ 250,000,000							$ 200,000,000
Line of Credit | A&R Credit Agreement | Secured Overnight Financing Rate (SOFR)
Short-term Debt [Line Items]
Basis spread on variable rate		7.50%
Line of Credit | A And R Credit Agreement , Tranche B, Maturing July 2027
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity		$ 125,000,000
Line of Credit | A And R Credit Agreement , Tranche C, Maturing July 2027
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity		125,000,000
Line of credit facility, accordion feature, increase limit		25,000,000
Line of credit facility, accordion feature, maximum borrowing capacity		$ 150,000,000
Total notes payable
Short-term Debt [Line Items]
Interest expense				26,000	$ 2,000	77,000	$ 4,000
Line of credit facility, maximum borrowing capacity				$ 2,173,000		$ 2,173,000
Face amount								$ 2,400,000
Number of installments | installment								10
Installment costs								$ 200,000
[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	Sep. 30, 2023 USD ($)
Debt Instrument [Line Items]
Remainder of 2023	$ 724
2024	1,449
2025	50,000
2026	0
2027	0
2028	0
Total	$ 52,173

Warrant Liabilities (Details)

Warrant Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Class of Warrant or Right [Line Items]
Warrant liabilities	$ 1,050		$ 1,050		$ 1,888
Change in fair value of warrant liabilities	$ (334)	$ (1,323)	$ (838)	$ (7,024)
Public Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	11,887,500		11,887,500		11,887,500
Change in fair value of warrant liabilities	$ (200)	(900)	$ (600)	(5,200)
Private Unit Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	3,451,937		3,451,937		3,451,937
Change in fair value of warrant liabilities	$ (100)	$ (400)	$ (200)	$ (1,800)

Stockholders_ Equity - (Details

Stockholders’ Equity - (Details) - Class A Common Stock - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jan. 06, 2022
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)	0	88,262	0	703,914
Stock repurchased, average cost per share (in dollars per share)		$ 3.46		$ 3.47
Stock repurchased during period, value		$ 300,000		$ 2,500,000
Remaining authorized repurchase amount	$ 17,500,000		$ 17,500,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 20, 2021	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP employee payroll contributions		$ 100		$ 100		$ 200
ESPP compensation expense		23	$ 30	68	$ 63
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expenses		200	(100)	500	(100)
Stock-based compensation not yet recognized related to unvested options		1,100		$ 1,100		$ 1,700
Unvested award, cost not yet recognized, period for recognition				2 years		2 years 9 months 18 days
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expenses		900	300	$ 2,500	1,400
Unvested award, cost not yet recognized, period for recognition				2 years 6 months		2 years 10 months 24 days
Unrecognized compensation expense		5,900		$ 5,900		$ 8,100
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expenses		100	$ 300	$ 100	$ 400
Unvested award, cost not yet recognized, period for recognition				2 years 6 months		3 years 4 months 24 days
Unrecognized compensation expense		$ 200		$ 200		$ 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		1,483,919
Percentage of outstanding stock maximum				1%
Outstanding stock maximum (in shares)				2,400,000
Shares purchased under the ESPP (in shares)				234,249		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		17,257,521

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 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)	(89,218)
Outstanding ending balance (in shares)	1,889,754	1,978,972
Vested and exercisable (in shares)	1,373,245
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)	4.03
Outstanding ending balance (in dollars per share)	13.41	$ 12.99
Vested and exercisable (in dollars per share)	$ 14.18
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted- Average Remaining Contractual Life (Years)	7 years 9 months 18 days	8 years 8 months 12 days
Exercisable, Weighted-Average Remaining Contractual Life (Years)	7 years 9 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	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Shares
Outstanding beginning balance (in shares) | shares	2,174,842
Granted (in shares) | shares	665,393
Vested (in shares) | shares	(809,561)
Forfeited (in shares) | shares	(248,754)
Outstanding ending balance (in shares) | shares	1,781,920
Weighted- Average Grant Date Fair Value
Outstanding beginning balance (in dollars per share) | $ / shares	$ 4.23
Granted (in dollars per share) | $ / shares	2.32
Vested (in dollars per share) | $ / shares	3.94
Forfeited (in dollars per share) | $ / shares	3.92
Outstanding ending balance (in dollars per share) | $ / shares	$ 3.55

Stock-Based Compensation - Sc_3

Stock-Based Compensation - Schedule of PSU Activity (Details) - Performance stock units	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Shares
Outstanding beginning balance (in shares) | shares	329,738
Granted (in shares) | shares	0
Vested (in shares) | shares	(59,876)
Performance adjustment (in shares) | shares	(129,026)
Forfeited (in shares) | shares	0
Outstanding ending balance (in shares) | shares	140,836
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	3.63
Performance adjustment (in dollars per share) | $ / shares	3.34
Forfeited (in dollars per share) | $ / shares	0
Outstanding ending balance (in dollars per share) | $ / shares	$ 3.42

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income tax expense	$ 463,000	$ 1,015,000	$ 1,297,000	$ 1,757,000
Income before income taxes	$ 15,995,000	$ 354,000	$ 38,835,000	$ 10,296,000
Effective income tax rate, percent	2.80%	286%	3.30%	17.10%
Statutory income tax rate, percent	21%	21%	21%	21%
Effective income tax rate, stock compensation adjustment, amount	$ 45,000	$ 100,000	$ 48,000	$ 500,000
Effective income tax rate, stock compensation adjustment, percent	0.30%		0.10%
Effective income tax rate, excluding tax expense, stock compensation adjustment, percent	3.10%		3.40%
Effective income tax rate reconciliation, state and local income taxes, amount			$ 7,000
Ownership interest held, percent	15.70%		15.70%		13.50%
Unrecognized tax benefits	$ 45,000		$ 45,000		$ 20,000
Income tax examination, penalties and interest accrued	$ 0		$ 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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Interest Expense And Amortized Debt Issuance Costs [Abstract]
Interest expense	$ 11,483	$ 8,513	$ 32,807	$ 22,795
Amortized debt issuance costs	594	582	1,872	1,626
Interest expense and amortized debt issuance costs	$ 12,077	$ 9,095	$ 34,679	$ 24,421

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	Sep. 30, 2023	Dec. 31, 2022
Financial assets:
Finance receivables at fair value, excluding accrued interest and fees receivable	$ 450,059	$ 441,496
Financial liabilities:
Warrant liabilities	1,050	1,888
Fair Value, Recurring | Reported Value Measurement
Financial assets:
Finance receivables at fair value, excluding accrued interest and fees receivable	450,059	441,496
Fair Value, Recurring | Reported Value Measurement | Public Warrants
Financial liabilities:
Warrant liabilities	594	1,189
Fair Value, Recurring | Reported Value Measurement | Private Placement Warrants
Financial liabilities:
Warrant liabilities	456	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	594	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	450,059	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	$ 456	$ 699

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Fair Value Measurement Input and Valuation Techniques of Installment Financing Receivables (Detail)	Sep. 30, 2023	Dec. 31, 2022
Interest rate on finance receivables
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	1.5539	1.5239
Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.2629	0.2589
Servicing cost
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.0321	0.0501
Remaining life
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.62	0.59
Default rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.2440	0.2027
Accrued interest
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.0394	0.0393
Prepayment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.2109	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	Sep. 30, 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	0.0479	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	2,800	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	0.4500	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	0.05	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	0.0455	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	7,800	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	0.4500	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	0.36	0.46

Fair Value Measurements - Sch_4

Fair Value Measurements - Schedule of Changes in Fair Value of Private Placement Warrants (Detail) - Level 3 - Warrants - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Private Placement Warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 552	$ 665	$ 699
Change in fair value	(96)	(113)	(34)
Ending Balance	456	552	665
$11.50 Exercise Price Warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	178	254	279
Change in fair value	(51)	(76)	(25)
Ending Balance	127	178	254
$15 Exercise Price Warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	374	411	420
Change in fair value	(45)	(37)	(9)
Ending Balance	$ 329	$ 374	$ 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		Sep. 30, 2023	Dec. 31, 2022
Assets
Cash	[1]	$ 31,125	$ 16,239
Restricted cash		34,902	33,431
Accrued interest and fees receivable		16,406	15,800
Finance receivables at amortized cost, net		209	643
Settlement receivable	[1]	2,902	2,000
Assets held for sale		0	550
Liabilities:
Secured borrowing payable	[1]	0	756
Senior debt, net	[1]	342,172	344,688
Notes payable		2,173	1,616
Level 1
Assets
Cash		31,125	16,239
Restricted cash		34,902	33,431
Accrued interest and fees receivable		16,406	15,800
Finance receivables at amortized cost, net		0	0
Settlement receivable		2,902	2,000
Assets held for sale			0
Liabilities:
Secured borrowing payable			0
Senior debt, net		0	0
Notes payable		0	0
Level 2
Assets
Cash		0	0
Restricted cash		0	0
Accrued interest and fees receivable		0	0
Finance receivables at amortized cost, net		0	0
Settlement receivable		0	0
Assets held for sale			0
Liabilities:
Secured borrowing payable			0
Senior debt, net		0	0
Notes payable		0	0
Level 3
Assets
Cash		0	0
Restricted cash		0	0
Accrued interest and fees receivable		0	0
Finance receivables at amortized cost, net		209	643
Settlement receivable		0	0
Assets held for sale			550
Liabilities:
Secured borrowing payable			756
Senior debt, net		342,172	344,688
Notes payable		$ 2,173	$ 1,616
[1](1) Includes amounts in consolidated variable interest entities ("VIEs") presented separately in the table below.

Commitments, Contingencies an_2

Commitments, Contingencies and Related Party Transactions - (Detail) - USD ($) $ in Millions			9 Months Ended
	Nov. 18, 2021	Jul. 20, 2021	Sep. 30, 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
Tax receivable agreement, percentage of members payment		90%

Concentration of Credit Risk (D

Concentration of Credit Risk (Details) - Financing Receivable - Geographic Concentration Risk	Sep. 30, 2023	Dec. 31, 2022
Texas
Concentration Risk [Line Items]
Concentration risk, percentage	16%	14%
Florida
Concentration Risk [Line Items]
Concentration risk, percentage	13%	13%
Virginia
Concentration Risk [Line Items]
Concentration risk, percentage	11%	11%

Retirement Plan (Details)

Retirement Plan (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Retirement Benefits [Abstract]
Employer matching contribution, percent of match			4%
Salaries and employee benefits	$ 0.4	$ 0.4	$ 1.2	$ 1.2

Earnings (Loss) Per Share - Sch

Earnings (Loss) Per Share - Schedule of Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator:
Net income (loss) attributable to OppFi Inc.	$ 2,169	$ (571)	$ 4,562	$ 3,963
Net income (loss) available to Class A common stockholders - Basic	2,169	(571)	4,562	3,963
Net income attributable to noncontrolling interest	13,363	(90)	32,976	4,576
Income tax expense	(8)	0	(16)	(1,105)
Net income (loss) available to Class A common stockholders - Diluted	$ 2,196	$ (571)	$ 4,614	$ 7,434
Denominator:
Weighted average Class A common stock outstanding - Basic (in shares)	16,772,275	13,972,971	15,820,262	13,694,733
Effect of dilutive securities:
Dilutive potential common shares (in shares)	285,503	0	226,569	70,582,544
Weighted average units outstanding - diluted (in shares)	17,057,778	13,972,971	16,046,831	84,277,277
Earnings (loss) per share:
Basic (in dollars per share)	$ 0.13	$ (0.04)	$ 0.29	$ 0.29
Diluted (in dollars per share)	$ 0.13	$ (0.04)	$ 0.29	$ 0.09
Stock Options
Effect of dilutive securities:
Dilutive securities (in shares)	0	0	0	0
Restricted stock units
Effect of dilutive securities:
Dilutive securities (in shares)	235,514	0	198,698	123,722
Performance stock units
Effect of dilutive securities:
Dilutive securities (in shares)	49,989	0	27,871	11,986
Warrants
Effect of dilutive securities:
Warrants (in shares)	0	0	0	0
Employee stock purchase plan
Effect of dilutive securities:
Dilutive securities (in shares)	0	0	0	0
Retained OppFi Units, excluding Earnout Units
Effect of dilutive securities:
Dilutive securities (in shares)	0	0	0	70,446,836
Previously Reported
Numerator:
Net income attributable to noncontrolling interest	$ 35	$ 0	$ 68	$ 4,576

Earnings (Loss) Per Share - S_2

Earnings (Loss) Per Share - Schedule of Securities Excluded from Calculation of Diluted Earnings Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	112,977,493	115,471,864	113,841,280	44,953,643
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	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	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	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	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	59,437	59,437
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	1,889,754	1,978,972	1,949,233	2,178,347
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	1,874,078	2,545,635	2,071,183	1,718,129
Performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	143,897	448,720	201,845	217,730
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	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)	68,230,327	69,659,100	68,779,582	0