OppFi (OPFI) 10-Q 9 May 24 2024 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2024	May 07, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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		111,259,489
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
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		19,887,385
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		91,372,104

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands		Mar. 31, 2024	Dec. 31, 2023
Assets
Cash	[1]	$ 47,183	$ 31,791
Restricted cash	[1]	41,538	42,152
Total cash and restricted cash		88,721	73,943
Finance receivables at fair value	[1]	412,038	463,320
Finance receivables at amortized cost, net of allowance for credit losses of $7 and $346 as of March 31, 2024 and December 31, 2023, respectively		48	110
Settlement receivable	[1]	1,766	1,904
Debt issuance costs, net	[1]	3,394	3,834
Property, equipment and software, net		9,694	10,292
Operating lease right-of-use assets		11,767	12,180
Deferred tax asset		25,540	25,777
Other assets	[1]	10,238	10,183
Total assets		563,206	601,543
Liabilities:
Accounts payable	[1]	3,984	4,442
Accrued expenses	[1]	20,028	22,006
Operating lease liabilities		14,613	15,061
Senior debt, net	[1]	300,300	332,667
Notes payable		724	1,449
Warrant liabilities		1,693	6,864
Tax receivable agreement liability		24,572	25,025
Total liabilities		365,914	407,514
Commitments and contingencies (Note 12)
Stockholders' equity:
Preferred stock, $0.0001 par value (1,000,000 shares authorized with no shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively)		0	0
Additional paid-in capital		78,669	76,480
Accumulated deficit		(58,044)	(63,591)
Treasury stock at cost, 703,914 shares as of March 31, 2024 and December 31, 2023		(2,460)	(2,460)
Total OppFi Inc.'s stockholders' equity		18,176	10,440
Noncontrolling interest		179,116	183,589
Total stockholders' equity		197,292	194,029
Total liabilities and stockholders' equity		563,206	601,543
Variable Interest Entity, Primary Beneficiary
Assets
Cash		328	368
Restricted cash		32,070	32,782
Total cash and restricted cash		32,398	33,150
Finance receivables at fair value		352,316	417,138
Settlement receivable		1,766	1,904
Debt issuance costs, net		3,394	3,834
Other assets		10	7
Total assets		389,884	456,033
Liabilities:
Accounts payable		3	5
Accrued expenses		3,146	3,614
Senior debt, net		250,736	283,213
Total liabilities		253,885	286,832
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	Mar. 31, 2024	Dec. 31, 2023
Allowance for credit losses	$ 7	$ 346
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)	20,015,537	19,554,774
Common stock, shares, outstanding (in shares)	19,311,623	18,850,860
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)	91,606,194	91,898,193
Common stock, shares, outstanding (in shares)	91,606,194	91,898,193

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue:
Interest and loan related income	$ 126,279	$ 119,942
Other revenue	1,064	432
Interest and other income	127,343	120,374
Change in fair value of finance receivables	(64,102)	(63,118)
Provision for credit losses on finance receivables	(27)	(70)
Net revenue	63,214	57,186
Expenses:
Salaries and employee benefits	15,998	14,521
Interest expense and amortized debt issuance costs	11,430	11,371
Direct marketing costs	9,512	10,528
Professional fees	5,481	3,723
Technology costs	3,058	3,166
Exit costs	2,918	0
Depreciation and amortization	2,725	3,391
Payment processing fees	2,086	2,390
Occupancy	942	1,108
Gain On Transfer Of Finance Receivables From Held For Sale To Held For Investment	0	147
General, administrative and other	3,780	3,111
Total expenses	57,930	53,456
Income from operations	5,284	3,730
Other income:
Change in fair value of warrant liabilities	5,171	153
Other income	80	193
Income before income taxes	10,535	4,076
Income tax expense	404	146
Net income	10,131	3,930
Net income attributable to noncontrolling interest	4,594	3,679
Net income attributable to OppFi Inc.	$ 5,537	$ 251
Earnings per common share:
Basic (in dollars per share)	$ 0.29	$ 0.02
Diluted (in dollars per share)	$ 0.10	$ 0.02
Weighted average common shares outstanding:
Basic (in shares)	19,205,427	15,037,326
Diluted (in shares)	86,243,498	15,189,895

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, 2022		14,760,566	94,937,285
Beginning balance at Dec. 31, 2022	$ 159,150	$ 2	$ 9	$ 65,501	$ (63,546)	$ (2,460)	$ 159,644
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exchange of Class V shares (in shares)		370,598	(370,598)
Exchange of Class V shares	0			630	3		(633)
Issuance of common stock under employee stock purchase plan (in shares)		90,119
Issuance of common stock under employee stock purchase plan	157			157
Stock-based compensation	1,139			1,139
Member distributions	(5)						(5)
Tax receivable agreement	(187)			(187)
Deferred tax asset	(61)			(61)
Net income (loss)	3,930				251		3,679
Ending balance (in shares) at Mar. 31, 2023		15,221,283	94,566,687
Ending balance at Mar. 31, 2023	164,123	$ 2	$ 9	67,179	(63,292)	(2,460)	162,685
Beginning balance (in shares) at Dec. 31, 2023		18,850,860	91,898,193
Beginning balance at Dec. 31, 2023	194,029	$ 2	$ 9	76,480	(63,591)	(2,460)	183,589
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exchange of Class V shares (in shares)		291,999	(291,999)
Exchange of Class V shares	0			685	10		(695)
Issuance of common stock under equity incentive plan (in shares)		156,712
Issuance of common stock under equity incentive plan	0
Issuance of common stock under employee stock purchase plan (in shares)		66,072
Issuance of common stock under employee stock purchase plan	119			119
Stock-based compensation	1,004			1,004
Tax withholding on vesting of restricted stock units (in shares)		(54,020)
Tax withholding on vesting of restricted stock units	(189)			(189)
Member distributions	(8,372)						(8,372)
Tax receivable agreement	346			346
Deferred tax asset	224			224
Net income (loss)	10,131				5,537		4,594
Ending balance (in shares) at Mar. 31, 2024		19,311,623	91,606,194
Ending balance at Mar. 31, 2024	$ 197,292	$ 2	$ 9	$ 78,669	$ (58,044)	$ (2,460)	$ 179,116

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net income	$ 10,131	$ 3,930
Adjustments to reconcile net income to net cash provided by operating activities:
Change in fair value of finance receivables	64,102	63,118
Provision for credit losses on finance receivables	27	70
Depreciation and amortization	2,725	3,391
Debt issuance cost amortization	550	764
Stock-based compensation expense	1,004	1,139
Loss on disposition of equipment	2	0
Loss on assets held for sale	0	147
Deferred income taxes	354	109
Change in fair value of warrant liabilities	(5,171)	(153)
Gain on forgiveness of debt	0	(113)
Changes in assets and liabilities:
Accrued interest and fees receivable	3,091	2,982
Settlement receivable	138	(843)
Operating lease, net	(35)	(15)
Assets held for sale	0	(75)
Other assets	(55)	158
Accounts payable	(458)	(2,627)
Accrued expenses	(1,978)	(6,345)
Net cash provided by operating activities	74,427	65,637
Cash flows from investing activities:
Finance receivables originated and acquired	(152,548)	(155,499)
Finance receivables repayments	136,672	129,314
Purchases of equipment and capitalized technology	(2,129)	(2,115)
Net cash used in investing activities	(18,005)	(28,300)
Cash flows from financing activities:
Member distributions	(8,372)	(5)
Payments of secured borrowing payable	0	(643)
Net payments of senior debt - revolving lines of credit	(32,477)	(14,116)
Payments of note payable	(725)	(808)
Payments for debt issuance costs	0	(218)
Proceeds from employee stock purchase plan	119	157
Payments of tax withholding on vesting of restricted stock units	(189)	0
Net cash used in financing activities	(41,644)	(15,633)
Net increase in cash and restricted cash	14,778	21,704
Cash and restricted cash
Beginning	73,943	49,670
Ending	88,721	71,374
Supplemental disclosure of cash flow information:
Interest paid on borrowed funds	11,142	10,125
Income taxes paid	146	10
Non-cash financing activities:
Adjustments to additional paid-in capital as a result of tax receivable agreement	346	(187)
Adjustments to additional paid-in capital as a result of adjustment to deferred tax asset	$ 224	$ (61)

Organization and Nature of Oper

Organization and Nature of Operations	3 Months Ended
	Mar. 31, 2024
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 finance platform that broadens the reach of community banks to extend credit access to everyday Americans. OppFi’s primary products are offered by its OppLoans platform. OppFi’s products also previously included its payroll deduction secured installment loan product, SalaryTap, and credit card product, OppFi Card. On July 20, 2021 (“Closing Date”), the Company completed a business combination pursuant to the Business Combination Agreement (“Business Combination Agreement”), dated as of February 9, 2021, by and among Opportunity Financial, LLC (“OppFi-LLC”), a Delaware limited liability company, OppFi Shares, LLC (“OFS”), a Delaware limited liability company, and Todd Schwartz (“Members’ Representative”), in his capacity as the representative of the members of OppFi-LLC (“Members”) immediately prior to the closing (“Closing”). The transactions contemplated by the Business Combination Agreement are referred to herein as the “Business Combination.” At the Closing, FGNA changed its name to “OppFi Inc.” OppFi’s Class A common stock, par value $0.0001 per share (“Class A Common Stock”) and redeemable warrants exercisable for Class A Common Stock (“Public Warrants”) are listed on the New York Stock Exchange (“NYSE”) under the symbols “OPFI” and “OPFI WS,” respectively. Following the Closing, the Company is organized in an “Up-C” structure in which substantially all of the assets and the business of the Company are held by OppFi-LLC and its subsidiaries, and OppFi’s only direct assets consist of Class A common units of OppFi-LLC (“OppFi Units”). As of March 31, 2024 and December 31, 2023, OppFi owned approximately 17.4% and 17.0% of the OppFi Units, respectively, and controls OppFi-LLC as the sole manager of OppFi-LLC in accordance with the terms of the Third Amended and Restated Limited Liability Company Agreement of OppFi-LLC (“OppFi A&R LLCA”). All remaining OppFi Units (“Retained OppFi Units”) are beneficially owned by the Members. OFS holds a controlling voting interest in OppFi through its ownership of shares of Class V common stock, par value $0.0001 per share, of OppFi (“Class V Voting Stock”) in an amount equal to the number of Retained OppFi Units and therefore has the ability to control OppFi-LLC.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
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, 2023 included in the 2023 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 months ended March 31, 2024 are not necessarily indicative of the results of operations that may be expected for the full year ending December 31, 2024. 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. As the primary beneficiary of the VIEs, the Company has consolidated the financial statements of the VIEs. All intercompany transactions and balances have been eliminated in consolidation. Segments: Segments are defined as components of an enterprise for which discrete financial information is available and evaluated regularly by the chief operating decision maker ("CODM") in deciding how to allocate resources and in assessing performance. OppFi’s Chief Executive Officer is considered to be the CODM. The CODM reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. The Company’s operations constitute a single reportable segment. Use of estimates: The preparation of the unaudited consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the unaudited consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The judgements, assumptions, and estimates used by management are based on historical experience, management’s experience and qualitative factors. The areas subject to significant estimation techniques are the determination of fair value of installment finance receivables and warrants, 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 2023 Annual Report. Participation rights purchase obligations : OppFi-LLC has entered into bank partnership arrangements with certain banks insured by the FDIC. As part of these bank partnership arrangements, the banks have the ability to retain a percentage of the finance receivables they have originated, and OppFi-LLC’s participation rights are reduced by the percentage of the finance receivables retained by the banks. For the three months ended March 31, 2024 and 2023, finance receivables originated through the bank partnership arrangements totaled 100% and 95%, respectively. As of March 31, 2024 and December 31, 2023, the unpaid principal balance of finance receivables outstanding for purchase was $14.0 million and $14.5 million, respectively. Capitalized technology: The Company capitalized software costs associated with application development totaling $2.0 million and $2.0 million for the three months ended March 31, 2024 and 2023, respectively. Amortization expense, which is included in depreciation and amortization on the consolidated statements of operations, totaled $2.5 million and $3.2 million for the three months ended March 31, 2024 and 2023, respectively. Noncontrolling interests: Noncontrolling interests are held by the Members, who retained 82.6% and 83.0% of the economic ownership percentage of OppFi-LLC as of March 31, 2024 and December 31, 2023, respectively. In accordance with the provisions of Financial Accounting Standards Board (“FASB”) 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 the Company and the noncontrolling ownership interests separately in the consolidated statements of operations. Costs Associated with Exit Activities: Costs associated with exit activities include contract termination costs and other costs associated with exit activities. In January 2024, the Company completed the previously disclosed wind down and exited its OppFi Card product. In accordance with the provisions of FASB ASC 420, Exit or Disposal Cost Obligations , the Company recognized a liability for $2.9 million for costs related to contracts associated with its OppFi Card product that will continue to be incurred under these contracts for their remaining term without economic benefit to the Company. The Company recorded these costs in exit costs on the consolidated statements of operations. As of March 31, 2024, the Company’s remaining liability totaled $2.7 million, which is included in accrued expenses on the consolidated balance sheets. 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. Recently adopted accounting pronouncements: None . Accounting pronouncements issued and not yet adopted: I n March 2020, the FASB issued Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . The purpose of ASU 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 2021-01, Reference Rate Reform (Topic 848): Scope . The purpose of ASU 2021-01 is to expand guidance on contract modifications and hedge accounting. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848. The purpose of ASU 2022-06 is to defer the effective date of the provisions of ASU 2020-04 from December 31, 2022 to December 31, 2024. The Company is currently evaluating the impact of ASU 2020-04, 2021-01 and 2022-06 on the Company’s consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporti ng (Topic 280): Improvements to Reportable Segment Disclosures . The purpose of ASU 2023-07 is to provide guidance on new segment disclosures, including significant segment expenses. The guidance is effective for annual reporting periods beginning after December 15, 2023 and, interim periods within the annual reporting period beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the impact on the Company’s consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . The purpose of ASU 2023-09 is to provide guidance on the enhanced income tax disclosure requirements. The guidance requires an entity to disclose specific categories in the effective tax rate reconciliation as well as provide additional information for reconciling items that meet a quantitative threshold. Further, the ASU requires certain disclosures of state versus federal income tax expense and taxes paid. The standard is intended to benefit investors by providing more detailed income tax disclosures that

Finance Receivables

Finance Receivables	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Finance Receivables	Finance Receivables Finance receivables at fair value: The components of installment finance receivables at fair value as of March 31, 2024 and December 31, 2023 were as follows (in thousands): March 31, 2024 December 31, 2023 Unpaid principal balance of finance receivables - accrual $ 346,897 $ 384,587 Unpaid principal balance of finance receivables - non-accrual 24,489 31,876 Unpaid principal balance of finance receivables $ 371,386 $ 416,463 Finance receivables at fair value - accrual $ 396,207 $ 444,120 Finance receivables at fair value - non-accrual 856 1,135 Finance receivables at fair value, excluding accrued interest and fees receivable 397,063 445,255 Accrued interest and fees receivable 14,975 18,065 Finance receivables at fair value $ 412,038 $ 463,320 Difference between unpaid principal balance and fair value $ 25,677 $ 28,792 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 March 31, 2024 and December 31, 2023, the aggregate unpaid principal balance of installment finance receivables 90 days or more past due on a contractual basis was $16.7 million and $15.2 million, respectively. As of March 31, 2024 and December 31, 2023, the fair value of installment finance receivables 90 days or more past due was $0.6 million and $0.5 million, respectively. Changes in the fair value of installment finance receivables at fair value for the three months ended March 31, 2024 and 2023 were as follows (in thousands): Three Months Ended March 31, 2024 2023 Balance at the beginning of the period $ 463,320 $ 457,296 Originations 152,518 155,493 Repayments (136,608) (129,204) Accrued interest and fees receivable (3,090) (2,978) Charge-offs, net (1) (60,987) (58,754) Net change in fair value (1) (3,115) (4,364) Balance at the end of the period $ 412,038 $ 417,489 (1) Included in "Change in fair value of finance receivables" in the consolidated statements of operations. The estimated amount of losses included in earnings attributable to changes in instrument-specific credit risk was $2.2 million and $4.2 million for the three months ended March 31, 2024 and 2023, respectively. The credit risk component was driven by the credit loss assumption applied in the discounted cash flow model, particularly the default rate. This assumption was primarily developed based on historical data of the installment loan portfolio. Finance receivables at amortized cost, net: The components of finance receivables at amortized cost as of March 31, 2024 and December 31, 2023 were as follows (in thousands): March 31, 2024 December 31, 2023 Finance receivables $ 54 $ 454 Accrued interest and fees receivable 1 2 Allowance for credit losses (7) (346) Finance receivables at amortized cost, net $ 48 $ 110 In January 2024, the Company completed the wind down and exited its OppFi Card revolving charge account product; as a result, the Company charged-off its remaining OppFi Card finance receivables. As of March 31, 2024, the Company’s finance receivables measured at amortized cost were comprised solely of the SalaryTap finance receivables. Changes in the allowance for credit losses on finance receivables at amortized cost for the three months ended March 31, 2024 and 2023 were as follows (in thousands): Three Months Ended March 31, 2024 2023 Beginning balance $ 346 $ 96 Provisions for credit losses on finance receivables 27 70 Finance receivables charged off (366) (119) Ending balance $ 7 $ 47 The following is an assessment of the credit quality of finance receivables measured at amortized cost and presents the recency and contractual delinquency by year of origination as of March 31, 2024 and December 31, 2023 (in thousands): March 31, 2024 Origination year 2024 2023 2022 2021 Total Recency delinquency Current $ — $ — $ 17 $ 30 $ 47 Delinquency 30-59 days — — 2 2 4 60-89 days — — 2 1 3 90+ days — — — — — Total delinquency — — 4 3 7 Finance receivables $ — $ — $ 21 $ 33 $ 54 Contractual delinquency Current $ — $ — $ 15 $ 12 $ 27 Delinquency 30-59 days — — 2 5 7 60-89 days — — 3 3 6 90+ days — — 2 12 14 Total delinquency — — 7 20 27 Finance receivables $ — $ — $ 22 $ 32 $ 54 December 31, 2023 Origination year 2023 2022 2021 Revolving charge accounts Total Recency delinquency Current $ — $ 35 $ 73 $ 244 $ 352 Delinquency 30-59 days — 3 1 16 20 60-89 days — 1 11 9 21 90+ days — — — 61 61 Total delinquency — 4 12 86 102 Finance receivables $ — $ 39 $ 85 $ 330 $ 454 Contractual delinquency Current $ — $ 32 $ 46 $ 244 $ 322 Delinquency 30-59 days — 3 8 16 27 60-89 days — 2 9 9 20 90+ days — 2 22 61 85 Total delinquency — 7 39 86 132 Finance receivables $ — $ 39 $ 85 $ 330 $ 454

Property, Equipment and Softwar

Property, Equipment and Software, Net	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Property, Equipment and Software, Net	Property, Equipment and Software, Net Property, equipment and software consisted of the following (in thousands): March 31, 2024 December 31, 2023 Capitalized technology $ 57,383 $ 55,405 Furniture, fixtures and equipment 4,110 3,964 Leasehold improvements 979 979 Total property, equipment and software 62,472 60,348 Less accumulated depreciation and amortization (52,778) (50,056) Property, equipment and software, net $ 9,694 $ 10,292 Depreciation and amortization expense for the three months ended March 31, 2024 and 2023 was $2.7 million and $3.4 million, respectively.

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses consisted of the following (in thousands): March 31, 2024 December 31, 2023 Accrual for services rendered and goods purchased $ 7,959 $ 6,899 Accrued payroll and benefits 3,277 8,900 Accrued exit costs 2,683 — Accrued interest 2,532 2,794 Other 3,577 3,413 Total $ 20,028 $ 22,006

Leases

Leases	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Leases	Leases The components of total lease cost for three months ended March 31, 2024 and 2023 were as follows (in thousands): Three Months Ended March 31, 2024 2023 Operating lease cost $ 597 $ 563 Variable lease expense 334 497 Short-term lease cost 3 40 Sublease income (80) (80) Total lease cost $ 854 $ 1,020 Supplemental cash flow information related to the leases for the three months ended March 31, 2024 and 2023 was as follows (in thousands): March 31, 2024 March 31, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 633 $ 784 The weighted average remaining lease term and discount rate as of March 31, 2024 and December 31, 2023 were as follows: March 31, 2024 December 31, 2023 Weighted average remaining lease term (in years) 6.5 6.7 Weighted average discount rate 5 % 5 % Future minimum lease payments as of March 31, 2024 were as follows (in thousands): Year Amount Remaining of 2024 $ 1,838 2025 2,482 2026 2,557 2027 2,633 2028 2,712 2029 2,794 Thereafter 2,144 Total lease payments 17,160 Less: imputed interest (2,547) Operating lease liabilities $ 14,613

Borrowings

Borrowings	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Borrowings	Borrowing The following is a summary of the Company’s outstanding borrowings as of March 31, 2024 and December 31, 2023, including borrowing capacity as of March 31, 2024 (in thousands): Purpose Borrower Borrowing Capacity March 31, 2024 December 31, 2023 Interest Rate as of March 31, 2024 Maturity Date Senior debt, net Revolving line of credit Opportunity Funding SPE V, LLC (Tranche B) $ 125,000 $ 62,500 $ 103,400 SOFR plus 6.75% June 2026 Revolving line of credit Opportunity Funding SPE V, LLC (Tranche C) 125,000 62,500 37,500 SOFR plus 7.50% July 2027 Revolving line of credit Opportunity Funding SPE IX, LLC 150,000 80,871 93,871 SOFR plus 7.50% December 2026 Revolving line of credit Gray Rock SPV LLC 75,000 44,865 48,442 SOFR plus 7.25% April 2025 Total revolving lines of credit 475,000 250,736 283,213 Term loan, net OppFi-LLC 50,000 49,564 49,454 LIBOR plus 10.00% March 2025 Total senior debt, net $ 525,000 $ 300,300 $ 332,667 Notes payable Financed insurance premium OppFi-LLC $ 724 $ 724 $ 1,449 9.70% June 2024 Senior debt, net: Revolving line of credit - Opportunity Funding SPE IX, LLC On March 19, 2024, the Company entered into an amendment (the “First Amendment”) to its revolving credit agreement with UMB Bank, N.A. The First Amendment, among other things, removed a collateral performance trigger that the Company had previously been out of compliance with. Certain of the Company’s foregoing credit facilities that consist of term loans and revolving loan facilities are subject to provisions that provide for a cross-default in the event certain covenants under the relevant agreements are breached. Total interest expense related to the Company’s senior debt, which is included in interest expense and amortized debt issuance costs in the consolidated statements of operations, was $10.8 million and $10.6 million for the three months ended March 31, 2024 and 2023, respectively. Additionally, the Company has capitalized $14.0 million in debt issuance costs in connection with the Company’s senior debt as of March 31, 2024. Amortized debt issuance costs associated with the Company’s senior debt, which is included in interest expense and amortized debt issuance costs in the consolidated statements of operations, were $0.6 million and $0.8 million for the three months ended March 31, 2024 and 2023, respectively. As of March 31, 2024 and December 31, 2023, unamortized debt issuance costs associated with the Company’s senior debt totaled $3.8 million and $4.3 million, respectively, of which $3.4 million and $3.8 million related to the revolving lines of credit, respectively, and $0.4 million and $0.5 million related to the term loan, respectively. Notes payable: Total interest expense related to notes payable, which is included in interest expense and amortized debt issuance costs in the consolidated statements of operations, was $26 thousand and $26 thousand for the three months ended March 31, 2024 and 2023, respectively. Secured borrowing payable: On February 16, 2023, the borrowings under the Company’s previous secured borrowing payable, with Opportunity Funding SPE II, LLC as borrower, were paid in full, of which borrowings totaling $0.1 million were forgiven. Subsequent to repayment, OppFi-LLC terminated the preferred return agreement. No interest expense was recognized related to secured borrowings for the three months ended March 31, 2024. Interest expense related to this facility was $10 thousand for the three months ended March 31, 2023. For the three months ended March 31, 2024 and 2023, there were no amortized debt issuance costs related to the secured borrowing payable. As of March 31, 2024, required payments for all borrowings, excluding revolving lines of credit, for each of the next five years were as follows (in thousands): Year Amount Remainder of 2024 $ 724 2025 50,000 2026 — 2027 — 2028 — 2029 — Total $ 50,724

Warrant Liabilities

Warrant Liabilities	3 Months Ended
	Mar. 31, 2024
Warrants and Rights Note Disclosure [Abstract]
Warrant Liabilities	Warrant Liabilities As of March 31, 2024 and December 31, 2023, there were 11,887,500 Public Warrants and 3,451,937 Private Placement Warrants outstanding. As of March 31, 2024 and December 31, 2023, the Company recorded warrant liabilities of $1.7 million and $6.9 million, respectively, in the consolidated balance sheets. The change in fair value of the Public Warrants and Private Placement Warrants was decreased by $3.7 million and $1.5 million, respectively, for the three months ended March 31, 2024, and was decreased by $0.1 million and $34 thousand, respectively, for the three months ended March 31, 2023.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation On July 20, 2021, the Company established the OppFi Inc. 2021 Equity Incentive Plan (“Plan”), which provides for the grant of awards in the form of options, stock appreciation rights, restricted stock awards, restricted stock units, performance shares, performance units, cash-based awards, and other stock-based awards to employees, non-employee directors, officers, and consultants. As of March 31, 2024, the maximum aggregate number of shares of Class A Common Stock that may be issued under the Plan (including from outstanding awards) was 22,794,973 shares. As of March 31, 2024, the Company had only granted awards in the form of options, restricted stock units, and performance stock units. Stock options: A summary of the Company’s stock option activity for the three months ended March 31, 2024 is as follows: (in thousands, except share and per share data) Stock Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding as of December 31, 2023 1,842,192 $ 13.65 7.6 $ 450 Granted — — — — Exercised — — — — Forfeited — — — — Outstanding as of March 31, 2024 1,842,192 $ 13.65 7.3 $ — Vested and exercisable as of March 31, 2024 1,443,456 $ 14.35 7.3 $ — For the three months ended March 31, 2024 and 2023, the Company recognized stock-based compensation expense of $0.1 million and $0.2 million, respectively, related to stock options. As of March 31, 2024, the Company had unrecognized stock-based compensation of $0.8 million related to unvested stock options that is expected to be recognized over an estimated weighted-average period of approximately 1.5 years. Restricted stock units: A summary of the Company’s restricted stock units (“RSUs”) activity for the three months ended March 31, 2024 is as follows: Shares Weighted- Average Grant Date Fair Value Unvested as of December 31, 2023 1,768,811 $ 3.45 Granted 142,403 4.27 Vested (216,235) 3.78 Forfeited (158,212) 3.89 Unvested as of March 31, 2024 1,536,767 $ 3.43 For the three months ended March 31, 2024 and 2023, the Company recognized stock-based compensation of $0.8 million and $0.8 million, respectively, related to RSUs. As of March 31, 2024, total unrecognized compensation expense related to RSUs was $4.5 million which will be recognized over a weighted-average vesting period of approximately 2.2 years. Performance stock units: A summary of the Company’s performance stock units (“PSUs”) activity for the three months ended March 31, 2024 is as follows: Shares Weighted-Average Grant Date Fair Value Unvested as of December 31, 2023 127,835 $ 3.42 Granted — — Vested (13,005) 3.49 Forfeited — — Unvested as of March 31, 2024 114,830 $ 3.41 For the three months ended March 31, 2024 and 2023, the Company recognized stock-based compensation of $37 thousand and $0.1 million, respectively, related to PSUs. As of March 31, 2024, total unrecognized compensation expense related to PSUs was $0.1 million which will be recognized over a weighted-average vesting period of approximately 2.0 years. Employee Stock Purchase Plan: On July 20, 2021, the Company established the OppFi Inc. 2021 Employee Stock Purchase Plan (“ESPP”). As of March 31, 2024, the maximum aggregate number of shares of Class A Common Stock that may be issued under the ESPP was 1,672,427 and may consist of authorized but unissued or reacquired shares of Class A Common Stock.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended March 31, 2024, OppFi recorded an income tax expense of $0.4 million and reported consolidated income before income taxes of $10.5 million, resulting in a 3.8% effective income tax rate. For the three months ended March 31, 2023, OppFi recorded an income tax expense of $0.1 million and reported consolidated income before income taxes of $4.1 million, resulting in a 3.6% effective income tax rate. OppFi’s effective income tax rates for the three months ended March 31, 2024 and 2023, 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 March 31, 2024, there were two discrete items recorded, which consisted of a $17 thousand expense related to a prior period uncertain tax position and a $45 thousand benefit related to stock compensation, which in total decreased the effective tax rate by 0.3%. Excluding the aforementioned discrete items, the effective tax rate for the three months ended March 31, 2024 would have been 4.1%. For the three months ended March 31, 2023, there was one discrete item recorded, which consisted of a $7 thousand adjustment related to a prior period state tax adjustment, which increased the effective tax rate by 0.2%. Excluding the aforementioned discrete item, the effective tax rate for the three months ended March 31, 2023 would have been 3.4%. OppFi is subject to a 21% federal income tax rate on its activities and its distributive share of income from OppFi-LLC, as well as various state and local income taxes. As of March 31, 2024 and 2023, OppFi owned 17.4% and 13.9%, respectively, of the outstanding units of OppFi-LLC and considers appropriate tax accounting only on this portion of OppFi-LLC’s activity. Additionally, OppFi’s income tax rate varies from the 21% statutory federal income tax rate primarily due to a permanent difference related to the adjustment of the warrant liabilities recorded by OppFi. This fair value adjustment of the warrant liabilities represents a large portion of OppFi’s pre-tax book income or loss and is a permanent difference between GAAP and taxable income, which impacts OppFi’s effective income tax rate. As of March 31, 2024 and December 31, 2023, OppFi recorded an unrecognized tax benefit of $55 thousand and $38 thousand, respectively, related to research and development credits allocated from OppFi-LLC. ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no amounts accrued for the payment of interest and penalties as of March 31, 2024 and December 31, 2023. 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.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
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 March 31, 2024 and December 31, 2023 were as follows (in thousands): Fair Value Measurements March 31, 2024 Level 1 Level 2 Level 3 Financial assets: Finance receivables at fair value, excluding accrued interest and fees receivable (1) $ 397,063 $ — $ — $ 397,063 Financial liabilities: Warrant liability - Public Warrants (2) 951 951 — — Warrant liability - Private Placement Warrants (3) 742 — — 742 Fair Value Measurements December 31, 2023 Level 1 Level 2 Level 3 Financial assets: Finance receivables at fair value, excluding accrued interest and fees receivable (1) $ 445,255 $ — $ — $ 445,255 Financial liabilities: Warrant liability - Public Warrants (2) 4,636 4,636 — — Warrant liability - Private Placement Warrants (3) 2,228 — — 2,228 (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 option-pricing model; accordingly, the fair value measurement for the Private Placement Warrants is categorized as Level 3. During the three months ended March 31, 2024 and 2023, there were no transfers of assets or liabilities in or out of Level 3 fair value measurements. The following table presents quantitative information about the significant unobservable inputs used for the Company’s installment finance receivables fair value measurements as of March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 Interest rate on finance receivables 156.74 % 156.15 % Discount rate 26.23 % 26.34 % Servicing cost* 3.12 % 2.96 % Remaining life 0.60 years 0.60 years Default rate* 26.08 % 25.63 % Accrued interest* 4.03 % 4.34 % Prepayment rate* 21.19 % 20.90 % *Stated as a percentage of finance receivables The following table presents the significant assumptions used in the simulation at March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 Input $11.50 Exercise $15 Exercise $11.50 Exercise $15 Exercise Risk-free interest rate 4.48 % 4.16 % 4.07 % 3.84 % Expected term (years) 2.3 years 7.3 years 2.6 years 7.6 years Expected volatility 56.80 % 56.80 % 44.10 % 44.10 % Exercise price $ 11.50 $ 15.00 $ 11.50 $ 15.00 Fair value of warrants $ 0.08 $ 0.59 $ 0.41 $ 1.30 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, 2023 $ 1,041 $ 1,187 $ 2,228 Change in fair value (838) (648) (1,486) Fair value as of March 31, 2024 $ 203 $ 539 $ 742 Financial assets and liabilities not measured at fair value : The following table presents the carrying value and estimated fair values of financial assets and liabilities disclosed but not carried at fair value and the level within the fair value hierarchy as of March 31, 2024 and December 31, 2023 (in thousands): Fair Value Measurements March 31, 2024 Level 1 Level 2 Level 3 Assets: Cash $ 47,183 $ 47,183 $ — $ — Restricted cash 41,538 41,538 — — Accrued interest and fees receivable 14,975 14,975 — — Finance receivables at amortized cost, net 48 — — 48 Settlement receivable 1,766 1,766 — — Liabilities: Senior debt, net 300,300 — — 300,300 Notes payable 724 — — 724 Fair Value Measurements December 31, 2023 Level 1 Level 2 Level 3 Assets: Cash $ 31,791 $ 31,791 $ — $ — Restricted cash 42,152 42,152 — — Accrued interest and fees receivable 18,065 18,065 — — Finance receivables at amortized cost, net 110 — — 110 Settlement receivable 1,904 1,904 — — Liabilities: Senior debt, net 332,667 — — 332,667 Notes payable 1,449 — — 1,449

Commitments, Contingencies and

Commitments, Contingencies and Related Party Transactions	3 Months Ended
	Mar. 31, 2024
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 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. On November 27, 2023, the Commissioner filed their answer to the Company’s cross-complaint. 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	3 Months Ended
	Mar. 31, 2024
Risks and Uncertainties [Abstract]
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to significant concentration of credit risk consist primarily of finance receivables. As of March 31, 2024, consumers living primarily in Texas, Florida and Virginia made up approximately 15%, 12% and 11%, respectively, of the Company’s portfolio of finance receivables. As of March 31, 2024, 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, 2023, consumers living primarily in Texas, Florida and Virginia made up approximately 16%, 12%, and 11%, respectively, of the Company’s portfolio of finance receivables. Furthermore, such consumers’ ability to honor their installment contracts may be affected by economic conditions in these areas. The Company is also exposed to a concentration of credit risk inherent in providing alternate financing programs to borrowers who cannot obtain traditional bank financing.

Retirement Plan

Retirement Plan	3 Months Ended
	Mar. 31, 2024
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) and others, as defined in the plan document, who are age 21 and older are eligible to participate in the 401(k) Plan. The 401(k) Plan participants may elect to contribute a portion of their eligible compensation to the 401(k) Plan. The Company has elected a matching contribution up to 4% on eligible employee compensation. The Company’s contribution, which is included in salaries and employee benefits in the consolidated statements of operations, totaled $0.4 million and $0.4 million for the three months ended March 31, 2024 and 2023, respectively.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2024 and 2023 (in thousands, except share and per share data): Three Months Ended March 31, 2024 2023 Numerator: Net income attributable to OppFi Inc. $ 5,537 $ 251 Net income available to Class A common stockholders - Basic 5,537 251 Net income attributable to noncontrolling interest 4,594 — Income tax expense (1,081) — Net income available to Class A common stockholders - Diluted $ 9,050 $ 251 Denominator: Weighted average Class A common stock outstanding - Basic 19,205,427 15,037,326 Effect of dilutive securities: Stock options — — Restricted stock units 562,950 122,571 Performance stock units 76,928 29,998 Warrants — — Employee stock purchase plan — — Retained OppFi Units, excluding Earnout Units 66,398,193 — Dilutive potential common shares 67,038,071 152,569 Weighted average units outstanding - diluted 86,243,498 15,189,895 Earnings per share: Basic $ 0.29 $ 0.02 Diluted $ 0.10 $ 0.02 The following table presents securities that have been excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 Public Warrants 11,887,500 11,887,500 Private Unit Warrants 231,250 231,250 $11.50 Exercise Price Warrants 2,248,750 2,248,750 $15 Exercise Price Warrants 912,500 912,500 Underwriter Warrants 59,437 59,437 Stock Options 1,842,192 1,978,972 Restricted stock units 1,653,319 2,202,314 Performance stock units 115,563 307,070 Noncontrolling interest - Earnout Units 25,500,000 25,500,000 Noncontrolling interest - OppFi Units — 69,066,687 Potential common stock 44,450,511 114,394,480

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company has evaluated the impact of events that have occurred through the date these financial statements were issued and identified the following events that require disclosure. On April 4, 2024, the Company’s Board of Directors (the “Board”) declared a special common stock dividend of $0.12 per share on its Class A Common Stock, which was paid on May 1, 2024, to stockholders of record as of the close of business on April 19, 2024. On April 4, 2024, the Board also authorized a new share repurchase program to repurchase up to $20.0 million in the aggregate of shares of the Company’s Class A Common Stock. In addition to the special dividend payable to Class A common stockholders, the Board approved a $0.12 per unit special distribution that was paid on April 29, 2024 to holders of record of Class A common units of OppFi-LLC as of the close of business on April 19, 2024. Distributions with respect to earnout units of OppFi-LLC will not be payable to the holders thereof unless such units vest prior to expiration. On April 12, 2024, Gray Rock SPV LLC entered into an amendment (the “Fourth Amendment”) to its revolving credit agreement. The Fourth Amendment, among other things, extended the maturity date from April 15, 2025 to October 16, 2026 and increased the applicable margin rate from 7.25% to 7.45%.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of presentation	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.
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, 2023 included in the 2023 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 months ended March 31, 2024 are not necessarily indicative of the results of operations that may be expected for the full year ending December 31, 2024. 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. As the primary beneficiary of the VIEs, the Company has consolidated the financial statements of the VIEs. 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, 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 three months ended March 31, 2024 and 2023, finance receivables originated through the bank partnership arrangements totaled 100% and 95%, respectively. As of March 31, 2024 and December 31, 2023, the unpaid principal balance of finance receivables outstanding for purchase was $14.0 million and $14.5 million, respectively.
Capitalized technology	Capitalized technology:
Noncontrolling interests	Noncontrolling interests: Noncontrolling interests are held by the Members, who retained 82.6% and 83.0% of the economic ownership percentage of OppFi-LLC as of March 31, 2024 and December 31, 2023, respectively. In accordance with the provisions of Financial Accounting Standards Board (“FASB”) 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 the Company and the noncontrolling ownership interests separately in the consolidated statements of operations.
Costs Associated with Exit Activities	Costs Associated with Exit Activities: Costs associated with exit activities include contract termination costs and other costs associated with exit activities. In January 2024, the Company completed the previously disclosed wind down and exited its OppFi Card product. In accordance with the provisions of FASB ASC 420, Exit or Disposal Cost Obligations
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	Recently adopted accounting pronouncements: None . Accounting pronouncements issued and not yet adopted: I n March 2020, the FASB issued Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . The purpose of ASU 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 2021-01, Reference Rate Reform (Topic 848): Scope . The purpose of ASU 2021-01 is to expand guidance on contract modifications and hedge accounting. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848. The purpose of ASU 2022-06 is to defer the effective date of the provisions of ASU 2020-04 from December 31, 2022 to December 31, 2024. The Company is currently evaluating the impact of ASU 2020-04, 2021-01 and 2022-06 on the Company’s consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporti ng (Topic 280): Improvements to Reportable Segment Disclosures . The purpose of ASU 2023-07 is to provide guidance on new segment disclosures, including significant segment expenses. The guidance is effective for annual reporting periods beginning after December 15, 2023 and, interim periods within the annual reporting period beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the impact on the Company’s consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . The purpose of ASU 2023-09 is to provide guidance on the enhanced income tax disclosure requirements. The guidance requires an entity to disclose specific categories in the effective tax rate reconciliation as well as provide additional information for reconciling items that meet a quantitative threshold. Further, the ASU requires certain disclosures of state versus federal income tax expense and taxes paid. The standard is intended to benefit investors by providing more detailed income tax disclosures that

Finance Receivables (Tables)

Finance Receivables (Tables)	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Schedule of Installment Finance Receivables at Fair Value	The components of installment finance receivables at fair value as of March 31, 2024 and December 31, 2023 were as follows (in thousands): March 31, 2024 December 31, 2023 Unpaid principal balance of finance receivables - accrual $ 346,897 $ 384,587 Unpaid principal balance of finance receivables - non-accrual 24,489 31,876 Unpaid principal balance of finance receivables $ 371,386 $ 416,463 Finance receivables at fair value - accrual $ 396,207 $ 444,120 Finance receivables at fair value - non-accrual 856 1,135 Finance receivables at fair value, excluding accrued interest and fees receivable 397,063 445,255 Accrued interest and fees receivable 14,975 18,065 Finance receivables at fair value $ 412,038 $ 463,320 Difference between unpaid principal balance and fair value $ 25,677 $ 28,792
Schedule of Changes in Fair Value of Installment Finance Receivables	Changes in the fair value of installment finance receivables at fair value for the three months ended March 31, 2024 and 2023 were as follows (in thousands): Three Months Ended March 31, 2024 2023 Balance at the beginning of the period $ 463,320 $ 457,296 Originations 152,518 155,493 Repayments (136,608) (129,204) Accrued interest and fees receivable (3,090) (2,978) Charge-offs, net (1) (60,987) (58,754) Net change in fair value (1) (3,115) (4,364) Balance at the end of the period $ 412,038 $ 417,489 (1) Included in "Change in fair value of finance receivables" in the consolidated statements of operations.
Schedule of Finance Receivables	The components of finance receivables at amortized cost as of March 31, 2024 and December 31, 2023 were as follows (in thousands): March 31, 2024 December 31, 2023 Finance receivables $ 54 $ 454 Accrued interest and fees receivable 1 2 Allowance for credit losses (7) (346) Finance receivables at amortized cost, net $ 48 $ 110
Schedule of Changes in Allowance for Credit Losses on Finance Receivables at Amortized Cost	Changes in the allowance for credit losses on finance receivables at amortized cost for the three months ended March 31, 2024 and 2023 were as follows (in thousands): Three Months Ended March 31, 2024 2023 Beginning balance $ 346 $ 96 Provisions for credit losses on finance receivables 27 70 Finance receivables charged off (366) (119) Ending balance $ 7 $ 47
Schedule of Credit Quality Finance Receivable Portfolio	The following is an assessment of the credit quality of finance receivables measured at amortized cost and presents the recency and contractual delinquency by year of origination as of March 31, 2024 and December 31, 2023 (in thousands): March 31, 2024 Origination year 2024 2023 2022 2021 Total Recency delinquency Current $ — $ — $ 17 $ 30 $ 47 Delinquency 30-59 days — — 2 2 4 60-89 days — — 2 1 3 90+ days — — — — — Total delinquency — — 4 3 7 Finance receivables $ — $ — $ 21 $ 33 $ 54 Contractual delinquency Current $ — $ — $ 15 $ 12 $ 27 Delinquency 30-59 days — — 2 5 7 60-89 days — — 3 3 6 90+ days — — 2 12 14 Total delinquency — — 7 20 27 Finance receivables $ — $ — $ 22 $ 32 $ 54 December 31, 2023 Origination year 2023 2022 2021 Revolving charge accounts Total Recency delinquency Current $ — $ 35 $ 73 $ 244 $ 352 Delinquency 30-59 days — 3 1 16 20 60-89 days — 1 11 9 21 90+ days — — — 61 61 Total delinquency — 4 12 86 102 Finance receivables $ — $ 39 $ 85 $ 330 $ 454 Contractual delinquency Current $ — $ 32 $ 46 $ 244 $ 322 Delinquency 30-59 days — 3 8 16 27 60-89 days — 2 9 9 20 90+ days — 2 22 61 85 Total delinquency — 7 39 86 132 Finance receivables $ — $ 39 $ 85 $ 330 $ 454

Property, Equipment and Softw_2

Property, Equipment and Software, Net (Tables)	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Equipment and Software	Property, equipment and software consisted of the following (in thousands): March 31, 2024 December 31, 2023 Capitalized technology $ 57,383 $ 55,405 Furniture, fixtures and equipment 4,110 3,964 Leasehold improvements 979 979 Total property, equipment and software 62,472 60,348 Less accumulated depreciation and amortization (52,778) (50,056) Property, equipment and software, net $ 9,694 $ 10,292

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consisted of the following (in thousands): March 31, 2024 December 31, 2023 Accrual for services rendered and goods purchased $ 7,959 $ 6,899 Accrued payroll and benefits 3,277 8,900 Accrued exit costs 2,683 — Accrued interest 2,532 2,794 Other 3,577 3,413 Total $ 20,028 $ 22,006

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Schedule of Components of Lease Costs/Weighted Average Remaining Lease Term and Discount Rate	The components of total lease cost for three months ended March 31, 2024 and 2023 were as follows (in thousands): Three Months Ended March 31, 2024 2023 Operating lease cost $ 597 $ 563 Variable lease expense 334 497 Short-term lease cost 3 40 Sublease income (80) (80) Total lease cost $ 854 $ 1,020 Supplemental cash flow information related to the leases for the three months ended March 31, 2024 and 2023 was as follows (in thousands): March 31, 2024 March 31, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 633 $ 784 The weighted average remaining lease term and discount rate as of March 31, 2024 and December 31, 2023 were as follows: March 31, 2024 December 31, 2023 Weighted average remaining lease term (in years) 6.5 6.7 Weighted average discount rate 5 % 5 %
Schedule of Future Minimum Lease Payments	Future minimum lease payments as of March 31, 2024 were as follows (in thousands): Year Amount Remaining of 2024 $ 1,838 2025 2,482 2026 2,557 2027 2,633 2028 2,712 2029 2,794 Thereafter 2,144 Total lease payments 17,160 Less: imputed interest (2,547) Operating lease liabilities $ 14,613

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Borrowings	The following is a summary of the Company’s outstanding borrowings as of March 31, 2024 and December 31, 2023, including borrowing capacity as of March 31, 2024 (in thousands): Purpose Borrower Borrowing Capacity March 31, 2024 December 31, 2023 Interest Rate as of March 31, 2024 Maturity Date Senior debt, net Revolving line of credit Opportunity Funding SPE V, LLC (Tranche B) $ 125,000 $ 62,500 $ 103,400 SOFR plus 6.75% June 2026 Revolving line of credit Opportunity Funding SPE V, LLC (Tranche C) 125,000 62,500 37,500 SOFR plus 7.50% July 2027 Revolving line of credit Opportunity Funding SPE IX, LLC 150,000 80,871 93,871 SOFR plus 7.50% December 2026 Revolving line of credit Gray Rock SPV LLC 75,000 44,865 48,442 SOFR plus 7.25% April 2025 Total revolving lines of credit 475,000 250,736 283,213 Term loan, net OppFi-LLC 50,000 49,564 49,454 LIBOR plus 10.00% March 2025 Total senior debt, net $ 525,000 $ 300,300 $ 332,667 Notes payable Financed insurance premium OppFi-LLC $ 724 $ 724 $ 1,449 9.70% June 2024
Summary of Required Payments for Borrowings, Excluding Secured Borrowing and Revolving Lines of Credit	As of March 31, 2024, required payments for all borrowings, excluding revolving lines of credit, for each of the next five years were as follows (in thousands): Year Amount Remainder of 2024 $ 724 2025 50,000 2026 — 2027 — 2028 — 2029 — Total $ 50,724

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Company's Stock Option, Activity	A summary of the Company’s stock option activity for the three months ended March 31, 2024 is as follows: (in thousands, except share and per share data) Stock Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding as of December 31, 2023 1,842,192 $ 13.65 7.6 $ 450 Granted — — — — Exercised — — — — Forfeited — — — — Outstanding as of March 31, 2024 1,842,192 $ 13.65 7.3 $ — Vested and exercisable as of March 31, 2024 1,443,456 $ 14.35 7.3 $ —
Schedule of Restricted Stock Unit, Activity	A summary of the Company’s restricted stock units (“RSUs”) activity for the three months ended March 31, 2024 is as follows: Shares Weighted- Average Grant Date Fair Value Unvested as of December 31, 2023 1,768,811 $ 3.45 Granted 142,403 4.27 Vested (216,235) 3.78 Forfeited (158,212) 3.89 Unvested as of March 31, 2024 1,536,767 $ 3.43
Schedule of PSU Activity	A summary of the Company’s performance stock units (“PSUs”) activity for the three months ended March 31, 2024 is as follows: Shares Weighted-Average Grant Date Fair Value Unvested as of December 31, 2023 127,835 $ 3.42 Granted — — Vested (13,005) 3.49 Forfeited — — Unvested as of March 31, 2024 114,830 $ 3.41

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	The Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2024 and December 31, 2023 were as follows (in thousands): Fair Value Measurements March 31, 2024 Level 1 Level 2 Level 3 Financial assets: Finance receivables at fair value, excluding accrued interest and fees receivable (1) $ 397,063 $ — $ — $ 397,063 Financial liabilities: Warrant liability - Public Warrants (2) 951 951 — — Warrant liability - Private Placement Warrants (3) 742 — — 742 Fair Value Measurements December 31, 2023 Level 1 Level 2 Level 3 Financial assets: Finance receivables at fair value, excluding accrued interest and fees receivable (1) $ 445,255 $ — $ — $ 445,255 Financial liabilities: Warrant liability - Public Warrants (2) 4,636 4,636 — — Warrant liability - Private Placement Warrants (3) 2,228 — — 2,228 (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 option-pricing model; accordingly, the fair value measurement for the Private Placement Warrants is categorized as Level 3.
Schedule of Fair Value Measurement Input and Valuation Techniques	The following table presents quantitative information about the significant unobservable inputs used for the Company’s installment finance receivables fair value measurements as of March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 Interest rate on finance receivables 156.74 % 156.15 % Discount rate 26.23 % 26.34 % Servicing cost* 3.12 % 2.96 % Remaining life 0.60 years 0.60 years Default rate* 26.08 % 25.63 % Accrued interest* 4.03 % 4.34 % Prepayment rate* 21.19 % 20.90 % *Stated as a percentage of finance receivables The following table presents the significant assumptions used in the simulation at March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 Input $11.50 Exercise $15 Exercise $11.50 Exercise $15 Exercise Risk-free interest rate 4.48 % 4.16 % 4.07 % 3.84 % Expected term (years) 2.3 years 7.3 years 2.6 years 7.6 years Expected volatility 56.80 % 56.80 % 44.10 % 44.10 % Exercise price $ 11.50 $ 15.00 $ 11.50 $ 15.00 Fair value of warrants $ 0.08 $ 0.59 $ 0.41 $ 1.30
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, 2023 $ 1,041 $ 1,187 $ 2,228 Change in fair value (838) (648) (1,486) Fair value as of March 31, 2024 $ 203 $ 539 $ 742
Schedule of Carrying Value and Estimated Fair Values of Financial Assets and Liabilities	The following table presents the carrying value and estimated fair values of financial assets and liabilities disclosed but not carried at fair value and the level within the fair value hierarchy as of March 31, 2024 and December 31, 2023 (in thousands): Fair Value Measurements March 31, 2024 Level 1 Level 2 Level 3 Assets: Cash $ 47,183 $ 47,183 $ — $ — Restricted cash 41,538 41,538 — — Accrued interest and fees receivable 14,975 14,975 — — Finance receivables at amortized cost, net 48 — — 48 Settlement receivable 1,766 1,766 — — Liabilities: Senior debt, net 300,300 — — 300,300 Notes payable 724 — — 724 Fair Value Measurements December 31, 2023 Level 1 Level 2 Level 3 Assets: Cash $ 31,791 $ 31,791 $ — $ — Restricted cash 42,152 42,152 — — Accrued interest and fees receivable 18,065 18,065 — — Finance receivables at amortized cost, net 110 — — 110 Settlement receivable 1,904 1,904 — — Liabilities: Senior debt, net 332,667 — — 332,667 Notes payable 1,449 — — 1,449

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2024 and 2023 (in thousands, except share and per share data): Three Months Ended March 31, 2024 2023 Numerator: Net income attributable to OppFi Inc. $ 5,537 $ 251 Net income available to Class A common stockholders - Basic 5,537 251 Net income attributable to noncontrolling interest 4,594 — Income tax expense (1,081) — Net income available to Class A common stockholders - Diluted $ 9,050 $ 251 Denominator: Weighted average Class A common stock outstanding - Basic 19,205,427 15,037,326 Effect of dilutive securities: Stock options — — Restricted stock units 562,950 122,571 Performance stock units 76,928 29,998 Warrants — — Employee stock purchase plan — — Retained OppFi Units, excluding Earnout Units 66,398,193 — Dilutive potential common shares 67,038,071 152,569 Weighted average units outstanding - diluted 86,243,498 15,189,895 Earnings per share: Basic $ 0.29 $ 0.02 Diluted $ 0.10 $ 0.02
Schedule of Antidilutive Securities Excluded from Calculation of Earnings Per Share	The following table presents securities that have been excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 Public Warrants 11,887,500 11,887,500 Private Unit Warrants 231,250 231,250 $11.50 Exercise Price Warrants 2,248,750 2,248,750 $15 Exercise Price Warrants 912,500 912,500 Underwriter Warrants 59,437 59,437 Stock Options 1,842,192 1,978,972 Restricted stock units 1,653,319 2,202,314 Performance stock units 115,563 307,070 Noncontrolling interest - Earnout Units 25,500,000 25,500,000 Noncontrolling interest - OppFi Units — 69,066,687 Potential common stock 44,450,511 114,394,480

Organization and Nature of Op_2

Organization and Nature of Operations (Details) - $ / shares	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Jul. 20, 2021
Class of Stock [Line Items]
Ownership interest held, percent	17.40%	17%	13.90%
Class A Common Stock
Class of Stock [Line Items]
Common stock, par or stated value per share (in dollars per share)	$ 0.0001	$ 0.0001		$ 0.0001
Class V Voting Stock
Class of Stock [Line Items]
Common stock, par or stated value per share (in dollars per share)	$ 0.0001	$ 0.0001

Significant Accounting Polici_3

Significant Accounting Policies - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) segment	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)
Accounting Policies [Abstract]
Number of reportable segments | segment	1
Finance receivables originated through the bank partnership arrangements, percentage	100%	95%
Finance receivables originated through the bank partnership arrangements	$ 14,000		$ 14,500
Development and capitalized software costs	2,000	$ 2,000
Capitalized software costs, amortization expense	2,500	3,200
Exit costs	2,918	$ 0
Remaining liability	$ 2,700
Existing Equity Holders
Schedule Of Reverse Recapitalization [Line Items]
Ownership interest retained	82.60%		83%

Finance Receivables - Schedule

Finance Receivables - Schedule of Components of Installment Finance Receivables At Fair Value (Details) - USD ($) $ in Thousands		Mar. 31, 2024	Dec. 31, 2023
Receivables [Abstract]
Unpaid principal balance of finance receivables - accrual		$ 346,897	$ 384,587
Unpaid principal balance of finance receivables - non-accrual		24,489	31,876
Unpaid principal balance of finance receivables		371,386	416,463
Finance receivables at fair value - accrual		396,207	444,120
Finance receivables at fair value - non-accrual		856	1,135
Finance receivables at fair value, excluding accrued interest and fees receivable		397,063	445,255
Accrued interest and fees receivable		14,975	18,065
Finance receivables at fair value	[1]	412,038	463,320
Difference between unpaid principal balance and fair value		$ 25,677	$ 28,792
[1] (1) Includes amounts in consolidated variable interest entities ("VIEs") presented separately in the table below.

Finance Receivables - Additiona

Finance Receivables - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Aggregate unpaid principal balance		$ 371,386		$ 416,463
Fair value of receivables	[1]	412,038		463,320
Amount of losses		2,200	$ 4,200
Finance receivables at amortized cost in non-accrual status		$ 17		30
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
Financing Receivable, Allowance for Credit Loss [Line Items]
Aggregate unpaid principal balance		$ 16,700		15,200
Fair value of receivables		$ 600		$ 500
[1] (1) Includes amounts in consolidated variable interest entities ("VIEs") presented separately in the table below.

Finance Receivables - Schedul_2

Finance Receivables - Schedule of Changes in Fair Value of Finance Installment Receivables (Details) - Financing Receivable - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at the beginning of the period	$ 463,320	$ 457,296
Originations	152,518	155,493
Repayments	(136,608)	(129,204)
Accrued interest and fees receivable	(3,090)	(2,978)
Charge-offs, net	(60,987)	(58,754)
Net change in fair value	(3,115)	(4,364)
Balance at the end of the period	$ 412,038	$ 417,489

Finance Receivables - Schedul_3

Finance Receivables - Schedule of Finance Receivables (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Finance receivables	$ 54	$ 454
Accrued interest and fees receivable	1	2
Allowance for credit losses	(7)	(346)	$ (47)	$ (96)
Finance receivables at amortized cost, net	$ 48	$ 110

Finance Receivables - Summary o

Finance Receivables - Summary of Changes in Allowance for Credit Losses on Finance Receivables at Amortized Cost (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 346	$ 96
Provisions for credit losses on finance receivables	27	70
Finance receivables charged off	(366)	(119)
Ending balance	$ 7	$ 47

Finance Receivables - Summary_2

Finance Receivables - Summary of Credit Quality Finance Receivable Portfolio (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Finance receivables	$ 54	$ 454
Recency delinquency
Financing Receivable, Past Due [Line Items]
Originated, current fiscal year	0	0
Originated, year two fiscal year before current fiscal year	0	39
Originated, year three fiscal year before current fiscal year	21	85
Revolving charge accounts	33	330
Finance receivables	54	454
Recency delinquency | Current
Financing Receivable, Past Due [Line Items]
Originated, current fiscal year	0	0
Originated, year two fiscal year before current fiscal year	0	35
Originated, year three fiscal year before current fiscal year	17	73
Revolving charge accounts	30	244
Finance receivables	47	352
Recency delinquency | Past Due
Financing Receivable, Past Due [Line Items]
Originated, current fiscal year	0	0
Originated, year two fiscal year before current fiscal year	0	4
Originated, year three fiscal year before current fiscal year	4	12
Revolving charge accounts	3	86
Finance receivables	7	102
Recency delinquency | 30-59 days
Financing Receivable, Past Due [Line Items]
Originated, current fiscal year	0	0
Originated, year two fiscal year before current fiscal year	0	3
Originated, year three fiscal year before current fiscal year	2	1
Revolving charge accounts	2	16
Finance receivables	4	20
Recency delinquency | 60-89 days
Financing Receivable, Past Due [Line Items]
Originated, current fiscal year	0	0
Originated, year two fiscal year before current fiscal year	0	1
Originated, year three fiscal year before current fiscal year	2	11
Revolving charge accounts	1	9
Finance receivables	3	21
Recency delinquency | 90+ days
Financing Receivable, Past Due [Line Items]
Originated, current fiscal year	0	0
Originated, year two fiscal year before current fiscal year	0	0
Originated, year three fiscal year before current fiscal year	0	0
Revolving charge accounts	0	61
Finance receivables	0	61
Contractual delinquency
Financing Receivable, Past Due [Line Items]
Originated, current fiscal year	0	0
Originated, year two fiscal year before current fiscal year	0	39
Originated, year three fiscal year before current fiscal year	22	85
Revolving charge accounts	32	330
Finance receivables	54	454
Contractual delinquency | Current
Financing Receivable, Past Due [Line Items]
Originated, current fiscal year	0	0
Originated, year two fiscal year before current fiscal year	0	32
Originated, year three fiscal year before current fiscal year	15	46
Revolving charge accounts	12	244
Finance receivables	27	322
Contractual delinquency | Past Due
Financing Receivable, Past Due [Line Items]
Originated, current fiscal year	0	0
Originated, year two fiscal year before current fiscal year	0	7
Originated, year three fiscal year before current fiscal year	7	39
Revolving charge accounts	20	86
Finance receivables	27	132
Contractual delinquency | 30-59 days
Financing Receivable, Past Due [Line Items]
Originated, current fiscal year	0	0
Originated, year two fiscal year before current fiscal year	0	3
Originated, year three fiscal year before current fiscal year	2	8
Revolving charge accounts	5	16
Finance receivables	7	27
Contractual delinquency | 60-89 days
Financing Receivable, Past Due [Line Items]
Originated, current fiscal year	0	0
Originated, year two fiscal year before current fiscal year	0	2
Originated, year three fiscal year before current fiscal year	3	9
Revolving charge accounts	3	9
Finance receivables	6	20
Contractual delinquency | 90+ days
Financing Receivable, Past Due [Line Items]
Originated, current fiscal year	0	0
Originated, year two fiscal year before current fiscal year	0	2
Originated, year three fiscal year before current fiscal year	2	22
Revolving charge accounts	12	61
Finance receivables	$ 14	$ 85

Property, Equipment and Softw_3

Property, Equipment and Software, Net - Schedule of Property, Equipment and Software (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property, equipment and software	$ 62,472	$ 60,348
Less accumulated depreciation and amortization	(52,778)	(50,056)
Property, equipment and software, net	9,694	10,292
Capitalized technology
Property, Plant and Equipment [Line Items]
Property, equipment and software	57,383	55,405
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Property, equipment and software	4,110	3,964
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, equipment and software	$ 979	$ 979

Property, Equipment and Softw_4

Property, Equipment and Software, Net - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 2.7	$ 3.4

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands		Mar. 31, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrual for services rendered and goods purchased		$ 7,959	$ 6,899
Accrued payroll and benefits		3,277	8,900
Accrued exit costs		2,683	0
Accrued interest		2,532	2,794
Other		3,577	3,413
Total	[1]	$ 20,028	$ 22,006
[1] (1) Includes amounts in consolidated variable interest entities ("VIEs") presented separately in the table below.

Leases - Schedule of Components

Leases - Schedule of Components of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Lease, Cost [Abstract]
Operating lease cost	$ 597	$ 563
Variable lease expense	334	497
Short-term lease cost	3	40
Sublease income	(80)	(80)
Total lease cost	854	1,020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 633	$ 784
Weighted average remaining lease term (in years)	6 years 6 months		6 years 8 months 12 days
Weighted average discount rate	5%		5%

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Remaining of 2024	$ 1,838
2025	2,482
2026	2,557
2027	2,633
2028	2,712
2029	2,794
Thereafter	2,144
Total lease payments	17,160
Less: imputed interest	(2,547)
Operating lease liabilities	$ 14,613	$ 15,061

Borrowings - Schedule of Borrow

Borrowings - Schedule of Borrowings (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Term loan, net
Debt Instrument [Line Items]
Total	$ 50,724
Senior debt, net
Debt Instrument [Line Items]
Borrowing Capacity	525,000
Total	300,300	$ 332,667
Senior debt, net | Revolving Credit Facility
Debt Instrument [Line Items]
Borrowing Capacity	475,000
Total	$ 250,736	283,213
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	$ 62,500	103,400
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	$ 62,500	37,500
Maturity Date	July 2027
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	$ 80,871	93,871
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	$ 44,865	48,442
Maturity Date	April 2025
Senior debt, net | Term loan, net
Debt Instrument [Line Items]
Borrower	OppFi-LLC
Borrowing Capacity	$ 50,000
Total	$ 49,564	49,454
Maturity Date	March 2025
Notes payable
Debt Instrument [Line Items]
Total		$ 1,449
Notes payable | Financed Insurance Premium, OppFi-LLC, June 2024
Debt Instrument [Line Items]
Borrower	OppFi-LLC
Borrowing Capacity	$ 724
Total	$ 724
Interest rate	9.70%
Maturity Date	June 2024
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 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) - USD ($)			3 Months Ended
		Feb. 16, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Short-term Debt [Line Items]
Debt issuance costs, net	[1]		$ 3,394,000		$ 3,834,000
Senior debt, net
Short-term Debt [Line Items]
Debt issuance costs, net			3,800,000		4,300,000
Notes payable
Short-term Debt [Line Items]
Interest expense, debt			26,000	$ 26,000
Secured Debt
Short-term Debt [Line Items]
Interest expense, debt			0	10,000
Debt issuance costs, net			0	0
Extinguishment of debt, amount		$ 100,000
Revolving Line Of Credit, Maturing December 2026, Opportunity Funding SPE IX, LLC | Senior debt, net
Short-term Debt [Line Items]
Interest expense, debt			10,800,000	10,600,000
Capitalized issuance costs			14,000,000
Amortization of debt issuance costs			600,000	$ 800,000
Debt issuance costs, net			400,000		500,000
Revolving Credit Facility | Senior debt, net
Short-term Debt [Line Items]
Debt issuance costs, net			$ 3,400,000		$ 3,800,000
[1] (1) Includes amounts in consolidated variable interest entities ("VIEs") presented separately in the table below.

Borrowings - Summary of Require

Borrowings - Summary of Required Payments for Borrowings, Excluding Secured Borrowing and Revolving Lines of Credit (Detail) - Term loan, net $ in Thousands	Mar. 31, 2024 USD ($)
Debt Instrument [Line Items]
Remainder of 2024	$ 724
2025	50,000
2026	0
2027	0
2028	0
2029	0
Total	$ 50,724

Warrant Liabilities (Details)

Warrant Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Class of Warrant or Right [Line Items]
Warrant liabilities	$ 1,693		$ 6,864
Change in fair value of warrant liabilities	$ (5,171)	$ (153)
Public Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	11,887,500		11,887,500
Change in fair value of warrant liabilities	$ (3,700)	(1,500)
Private Unit Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	3,451,937		3,451,937
Change in fair value of warrant liabilities	$ (100)	$ (34)

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP employee payroll contributions	$ 100		$ 100
ESPP compensation expense	27	$ 24
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expenses	100	200
Stock-based compensation not yet recognized related to unvested options	$ 800
Unvested award, cost not yet recognized, period for recognition	1 year 6 months
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expenses	$ 800	800
Unvested award, cost not yet recognized, period for recognition	2 years 2 months 12 days
Unrecognized compensation expense	$ 4,500
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expenses	$ 37	$ 100
Unvested award, cost not yet recognized, period for recognition	2 years
Unrecognized compensation expense	$ 100
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)	1,672,427
Shares purchased under the ESPP (in shares)	300,321		234,249
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)	22,794,973

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Stock Options
Outstanding beginning balance (in shares)	1,842,192
Granted (in shares)	0
Exercised (in shares)	0
Forfeited (in shares)	0
Outstanding ending balance (in shares)	1,842,192	1,842,192
Vested and exercisable (in shares)	1,443,456
Weighted- Average Exercise Price
Outstanding beginning balance (in dollars per share)	$ 13.65
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Forfeited (in dollars per share)	0
Outstanding ending balance (in dollars per share)	13.65	$ 13.65
Vested and exercisable (in dollars per share)	$ 14.35
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted- Average Remaining Contractual Life (Years)	7 years 3 months 18 days	7 years 7 months 6 days
Exercisable, Weighted-Average Remaining Contractual Life (Years)	7 years 3 months 18 days
Aggregate Intrinsic Value	$ 0	$ 450
Exercisable, Aggregate Intrinsic Value	$ 0

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Restricted Stock Unit Activity (Details) - Restricted stock units	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Shares
Outstanding beginning balance (in shares) | shares	1,768,811
Granted (in shares) | shares	142,403
Vested (in shares) | shares	(216,235)
Forfeited (in shares) | shares	(158,212)
Outstanding ending balance (in shares) | shares	1,536,767
Weighted- Average Grant Date Fair Value
Outstanding beginning balance (in dollars per share) | $ / shares	$ 3.45
Granted (in dollars per share) | $ / shares	4.27
Vested (in dollars per share) | $ / shares	3.78
Forfeited (in dollars per share) | $ / shares	3.89
Outstanding ending balance (in dollars per share) | $ / shares	$ 3.43

Stock-Based Compensation - Sc_3

Stock-Based Compensation - Schedule of PSU Activity (Details) - Performance stock units	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Shares
Outstanding beginning balance (in shares) | shares	127,835
Granted (in shares) | shares	0
Vested (in shares) | shares	(13,005)
Forfeited (in shares) | shares	0
Outstanding ending balance (in shares) | shares	114,830
Weighted- Average Grant Date Fair Value
Outstanding beginning balance (in dollars per share) | $ / shares	$ 3.42
Granted (in dollars per share) | $ / shares	0
Vested (in dollars per share) | $ / shares	3.49
Forfeited (in dollars per share) | $ / shares	0
Outstanding ending balance (in dollars per share) | $ / shares	$ 3.41

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income tax expense	$ 404,000	$ 146,000
Income before income taxes	$ 10,535,000	$ 4,076,000
Effective income tax rate, percent	3.80%	3.60%
Statutory income tax rate, percent	21%	21%
Income tax effects , prior period adjustment	$ 17,000
Effective income tax rate, stock compensation adjustment, amount	$ (45,000)
Effective income tax rate, stock compensation adjustment, percent	0.30%	0.20%
Effective income tax rate, excluding tax expense, stock compensation adjustment, percent	4.10%	3.40%
Effective income tax rate reconciliation, state and local income taxes, amount		$ 7,000
Ownership interest held, percent	17.40%	13.90%	17%
Unrecognized tax benefits	$ 55,000		$ 38,000
Income tax examination, penalties and interest accrued	$ 0		$ 0

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Assets and Liabilities that are Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financial assets:
Finance receivables at fair value, excluding accrued interest and fees receivable	$ 397,063	$ 445,255
Financial liabilities:
Warrant liabilities	1,693	6,864
Fair Value, Recurring | Reported Value Measurement
Financial assets:
Finance receivables at fair value, excluding accrued interest and fees receivable	397,063	445,255
Fair Value, Recurring | Reported Value Measurement | Public Warrants
Financial liabilities:
Warrant liabilities	951	4,636
Fair Value, Recurring | Reported Value Measurement | Private Placement Warrants
Financial liabilities:
Warrant liabilities	742	2,228
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	951	4,636
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	397,063	445,255
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	$ 742	$ 2,228

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Fair Value Measurement Input and Valuation Techniques of Installment Financing Receivables (Detail)	Mar. 31, 2024	Dec. 31, 2023
Interest rate on finance receivables
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	1.5674	1.5615
Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.2623	0.2634
Servicing cost
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.0312	0.0296
Remaining life
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.6	0.6
Default rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.2608	0.2563
Accrued interest
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.0403	0.0434
Prepayment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivables, fair value measurement	0.2119	0.2090

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Fair Value Measurement Input and Valuation Techniques of Private Placement Warrants (Detail) - Level 3 - Warrants	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
$11.50 Exercise Price Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expected term (years)	2 years 3 months 18 days	2 years 7 months 6 days
$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	0.0448	0.0407
$11.50 Exercise Price Warrants | Expected volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	0.5680	0.4410
$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	0.08	0.41
$15 Exercise Price Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expected term (years)	7 years 3 months 18 days	7 years 7 months 6 days
$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	0.0416	0.0384
$15 Exercise Price Warrants | Expected volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	0.5680	0.4410
$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	0.59	1.30

Fair Value Measurements - Sch_4

Fair Value Measurements - Schedule of Changes in Fair Value of Private Placement Warrants (Detail) - Level 3 - Warrants $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Private Placement Warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 2,228
Change in fair value	(1,486)
Ending Balance	742
$11.50 Exercise Price Warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	1,041
Change in fair value	(838)
Ending Balance	203
$15 Exercise Price Warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	1,187
Change in fair value	(648)
Ending Balance	$ 539

Fair Value Measurements - Sch_5

Fair Value Measurements - Schedule of Carrying Value and Estimated Fair Values of Financial Assets and Liabilities (Detail) - USD ($) $ in Thousands		Mar. 31, 2024	Dec. 31, 2023
Assets
Cash	[1]	$ 47,183	$ 31,791
Restricted cash		41,538	42,152
Accrued interest and fees receivable		14,975	18,065
Finance receivables at amortized cost, net		48	110
Settlement receivable	[1]	1,766	1,904
Liabilities:
Senior debt, net	[1]	300,300	332,667
Notes payable		724	1,449
Level 1
Assets
Cash		47,183	31,791
Restricted cash		41,538	42,152
Accrued interest and fees receivable		14,975	18,065
Finance receivables at amortized cost, net		0	0
Settlement receivable		1,766	1,904
Liabilities:
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
Liabilities:
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		48	110
Settlement receivable		0	0
Liabilities:
Senior debt, net		300,300	332,667
Notes payable		$ 724	$ 1,449
[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)	Jul. 20, 2021
Commitments and Contingencies Disclosure [Abstract]
Tax receivable agreement, percentage of members payment	90%

Concentration of Credit Risk (D

Concentration of Credit Risk (Details) - Financing Receivable - Geographic Concentration Risk	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Texas
Concentration Risk [Line Items]
Concentration risk, percentage	15%	16%
Florida
Concentration Risk [Line Items]
Concentration risk, percentage	12%	12%
Virginia
Concentration Risk [Line Items]
Concentration risk, percentage	11%	11%

Retirement Plan (Details)

Retirement Plan (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Retirement Benefits [Abstract]
Employer matching contribution, percent of match	4%
Salaries and employee benefits	$ 0.4	$ 0.4

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Numerator:
Net income attributable to OppFi Inc.	$ 5,537	$ 251
Net income available to Class A common stockholders - Basic	5,537	251
Net income attributable to noncontrolling interest	4,594	3,679
Income tax expense	(1,081)	0
Net income available to Class A common stockholders - Diluted	$ 9,050	$ 251
Denominator:
Weighted average Class A common stock outstanding - Basic (in shares)	19,205,427	15,037,326
Effect of dilutive securities:
Dilutive potential common shares (in shares)	67,038,071	152,569
Weighted average units outstanding - diluted (in shares)	86,243,498	15,189,895
Earnings per share:
Basic (in dollars per share)	$ 0.29	$ 0.02
Diluted (in dollars per share)	$ 0.10	$ 0.02
Stock Options
Effect of dilutive securities:
Dilutive securities (in shares)	0	0
Restricted stock units
Effect of dilutive securities:
Dilutive securities (in shares)	562,950	122,571
Performance stock units
Effect of dilutive securities:
Dilutive securities (in shares)	76,928	29,998
Warrants
Effect of dilutive securities:
Warrants (in shares)	0	0
Employee stock purchase plan
Effect of dilutive securities:
Dilutive securities (in shares)	0	0
Retained OppFi Units, excluding Earnout Units
Effect of dilutive securities:
Dilutive securities (in shares)	66,398,193	0

Earnings Per Share - Schedule_2

Earnings Per Share - Schedule of Securities Excluded from Calculation of Diluted Earnings Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	44,450,511	114,394,480
Warrants | Public Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	11,887,500	11,887,500
Warrants | Private Unit Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	231,250	231,250
Warrants | $11.50 Exercise Price Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	2,248,750	2,248,750
Warrants | $15 Exercise Price Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	912,500	912,500
Warrants | Underwriter Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	59,437	59,437
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	1,842,192	1,978,972
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	1,653,319	2,202,314
Performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	115,563	307,070
Noncontrolling interest - Earnout Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	25,500,000	25,500,000
Noncontrolling interest - OppFi Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	0	69,066,687

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions				3 Months Ended
	Apr. 12, 2024	Apr. 11, 2024	Apr. 04, 2024	Mar. 31, 2024
Secured Overnight Financing Rate (SOFR) | Senior debt, net | Revolving Line Of Credit, Maturing April 2025, Gray Rock SPV, LLC
Subsequent Event [Line Items]
Basis spread on variable rate				7.25%
Subsequent Events | Secured Overnight Financing Rate (SOFR) | Senior debt, net | Revolving Line Of Credit, Maturing April 2025, Gray Rock SPV, LLC
Subsequent Event [Line Items]
Basis spread on variable rate	7.45%	7.25%
Subsequent Events | Class A Common Stock
Subsequent Event [Line Items]
Common stock, dividends, per share (in dollars per share)			$ 0.12
Stock repurchase program, authorized amount			$ 20
Dividends payable, amount per share (in dollars per share)			$ 0.12