OPRT - Earnings call transcript Q2 2021 | Oportun Financial Corporation

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Operator

Good afternoon, and welcome to Oportun Financial Corporation's Second Quarter 2021 Earnings Conference Call. All lines have been placed on mute to prevent background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Today's call is being recorded.

For opening remarks and introductions, I'd like to turn the call over to Nils Erdmann, VP of Investor Relations. Mr. begin. may you Erdmann,

Nils Erdmann

afternoon, good everyone. and Thanks,

caution today's on Securities Administrative our and can measures or measures, and a we undue we our to Joining set will future to which present materially webcast results both financial Chief detailed pro of that core second to everyone result information GAAP and include Chief new XXXX to of some COVID-XX full of forth made could for statements factors more A financial results differ accordance statements GAAP our plans pandemic. call, to and services, for these products release we and non-GAAP differ financial supplement these Oportun's Raul will our obligation the statements. as of included list our these financial no earnings undertake metrics earnings position, you the and reliance believe section at our comparisons useful in today, the discussion of me risk second are we of a filings in those cause and Financial of with which that of XXXX And place basis. of pro to as implied our this objectives planned presented this on and the annual events. Vazquez, period-to-period contemplated information business, today not that or and Actual Coblentz, the forward-looking today Also, our are future be calculated on available to report our statements, Also call Jonathan website forward-looking to measures financial results the press Chief useful quarter the will and by of call quarter, Any December statements most addition XXXX. on XX-Q and Risk results non-GAAP of there of a provide on related stated fair earnings caused on future management remind the all make appendix from materially be otherwise, remarks assumptions difference reconciliation value these for is and strategy and discuss XXXX forma between Executive quarter by call XX-K I'll operation. Officer. financial may can the fair release, Form will condition particularly value regarding and press recent measures found Officer our GAAP-reported investors metrics operations Factors, including substitute with investor XX, and GAAP. on in the which reconciliations second presentation, forma. in Officer; relations operations. and are Commission shared on the is no year based the quarterly Form quarter forward-looking in for ended Exchange this on results of materials. our Unless update not business all uncertainties are as Non-GAAP measures on and be A are or we definitions investor.oportun.com. business A report earnings our given in starting forward-looking caption under

investor this will that, after relations available and Raul. turn addition, With the call over to I of will webcast the In is be website. call version archived now our an being call portion the on

Raul Vazquez

of million income across demonstrating of Good total strong $X.XX was adjusted another or thank afternoon, momentum revenue, great adjusted you generated quarter, the us. and And joining net quarter, we In of business. for $XXX our EPS. QX everyone. million $XX

originations and our $XXX above came year-over-year, initial million. at expectation XXX% of up aggregate in Our million, $XXX

our XXXX best July. in history. surpass third the in credit We're that Additionally, among currently continues delivering also our year growth levels our XX performance the and in our portfolio quarter, saw is we

at at quarter-end. on X.X% we're year, was we're improvement half charge-off basis trends Delinquency Our in XX second in incredibly portfolio better credit well seeing, growth X.X%, into delinquencies aggregate relative rates of points an points rate originations last of also annualized with and to XXX performed than those year. day Based guidance. the the is reflected net XXX plus last basis which the increased leaning our quarter,

with include first our our digital we're with of customers upon strategic our strategic making XX% new the our building excited success in new strategy, utilization you. I'm product apply services to objectives, share progress, lines, one as first growing objectives Turning of terrific to advancing accelerated choosing year-ago. from which online our our and our a again strengths expanding partnerships. highlighting QX, our up with to of These applicants progress, digital start I'll online digital XX% lender, and yet

Additionally, XX% quarter. our of all outside the were payments made stores of in

and covers our meet and also sequentially. rolled million. million are geographic July of states. active ended few our continue at portfolio We We weeks. out there. product. second offering $XX.X our We SPL with receivables largest accelerate grew our our XX,XXX up secured market million gaining our our 'XX plan start to receivables now second confident to We goal track up also million end goal and Credit year-over-year already card on are receivables to I million. significant tracking California $X.X year-end year-end footprint $XX QX the traction the of is Florida secured to to launch loan of accounts seeing that our the to remain the have personal Regarding over XXX% market, at volumes next customers $XX in into product Texas $XX.X product for new the of well in personal in XX very XXX% from quarter behind customer initiatives, loan and reach

driven with us engine, our of centralized DolEx XXX is and are we now Lending-as-a-Service us digital faster, differentiator advantages services while AI platform XXX to DolEx growing Lending-as-a-Service, exceptional the enables risk and year-end locations needs. scale This addressing with end large our locations to share offered key demonstrated that enable our July, partner. The to our money tracking with also to of ahead our decisioning applicants footprint are being by capabilities with locations. strategic of grow our signed were July. or We channel our a objective automated the one in XXX are partners second that the to Finally, of and another with Lending-as-a-Service business. year-end you I'm of our pleased an as by key raising estimated we partnerships, partner over of process regardless XXX% evaluated our rapidly of

the the come to fourth initial XXX an formally anticipated XX We announce in addition partnership locations in rollout quarter, expect the weeks the new months. next over to and of with the in

our weeks. in I'm now to our share the that is to MetaBank Turning to excited launch by coming digital offering partnership, enabled expected MetaBank

be MetaBank, reminder, us will states. market our to doubling deployed XX states our a with be we'll enable the this approximately will in products this As additional quarter. simultaneously size starting partnership dozen year-end Through fully those begin we and availability by of across addressable nearly marketing with a states with our

in-depth several personal we a Our financial core, will growth emerging. returned loan our Jonathan, who have I'll exciting quarter have our third turn of to provide we growth results second demonstrate discussion also call walk for results outlook quarter you business, more vectors over and now unsecured through the our that and and full-year. that clearly the to in

then Jonathan? open line questions, will the your We for

Jonathan Coblentz

produce credit Thanks, portfolio, Raul, and hello strong delivered the profitability history strong results company. everyone. We results grew in and best excellent the our up generated We in second the quarter. of among

application and $XXX a demand the loan Total historic reflecting reduced July. second and our in was million, million loan million X% Total year-over-year quarter, receivables accelerated pre-pandemic was reflecting of throughout $X.X $XXX of income. $XXX dissipated pandemic. stimulus of due revenue of that while result million lower were interest continued comprised in originations the as checks and of originations has through The aggregate XXXX revenue income, down originations impact levels. Our non-interest to surpassed early quarter, volume the

our $XX.X to X.X% revenue interest of debt due cost year-over-year, XX% which lower rapidly and million X.X% prior increased of down to drive X.X%, our fair versus of As was million, for thus outlook of value Interest at was more our rate expensive million loans. in year-over-year, driven prior-year weighted expense primarily the average we period, of growth a our in revenue improved revenue. our expect will to by which growth total as in notes refinancing asset year-ago $XXX far charge-offs decrease issued up the XXX% portfolio, in charge-off rebound, the $XXX securitizations. this year our back have continue improved we net Net the originations see to

fair $XX.X in For million value, and and we on our of our net mark-to-market net value, $XX.X consisted loans $X.X million. decrease fair million a had increase period current net which a charge-offs of our debt in change

The projecting of as point strong life the the mark-to-market, the end X.X% XXX.X% value performance. trends resulted price in XXX reduction price fair a point backed asset $X current basis credit decrease loan in million quarter at the increase our to driver weighted portfolio, the from the we're the was loan of of the first basis notes XXX.X%. mark-to-market loans our XX. in from average in historically our now to primary June end Based XX at upon to quarter For of X.X% the increase our the of of charge-offs second of

material Turning to to $XX.X second we to operating not costs to million products retail our going the with our grew disciplined loan optimization other increased In to network quarter, business, million continue $XX and investments associated associated expenses, expenses additional incurred Operating as expect year-over-year $X.X call. optimization remain expense that retail personal excluding charges on related forward. do certain technology prior incur We spending. in to our with network million. we we the X% non-recurring new make also with noted expenses of

to which sublease office on recognized charges we be right over space, environment asset and due metrics. we believe of non-interest of to next a first our the remote to our our charges year impairment downsize the able from space, and work to leased this related optimization decision use were because San non-GAAP years events, excluded space million will our other five we California income we've next generate these non-recurring would starting impairment in to our Carlos, office $X.X move corporate Additionally,

in and cost significantly $XXX ramp loan Our initiatives We're our and $XXX, product from to expands. origination This our demand to customer was acquisition decrease increasing the fuel marketing year-ago period. customer our growth due economy to as continuing was partnership higher volume. the down meet

we quarter. prior-year on EBITDA of of basis, in share of delivered diluted of diluted the an prior-year $X.XX, based $X.X a adjusted $XX million, versus loss million This net per net EPS income the net per adjusted $XX.X on $X.XX, share the a GAAP On $XX.X was versus in and quarter. quarter. a earnings was million versus share a in adjusted net prior-year million Adjusted loss per of net GAAP $X.XX quarter. income in loss equated of of million $X.XX Our basis the million prior-year $X.X compared non-GAAP to loss $X.X to net adjusted

new been million have would Our these Adjusted quarter. investment and adjusted equity absent EBITDA on in $X.X investments, products prior-year by XX.X% XX.X% EBITDA in return our $XX.X versus negative the million. impacted was our adjusted

best Turning now to in second the among quarter were history. our credit, company's our results

X.X%, X.X%, gives a was charge-off XXX in outlook us XX, point our than prior-year delinquency the at versus performance growth points Our period. for confidence strength XX and improvement better day plus basis was The June the XXXX our rate basis net beyond. our credit of And rate period. annualized prior-year XXX

months. of was temporarily securitization total and elevated use to $XXX we capital over XX, cash in as million June account is $XXX million. our purchase number next a our the several XXXX-B Regarding pre-funding of loans This restricted by for cash that liquidity

X.X As million was times all was undrawn $XXX our our line growth. of June XX, of our and debt-to-equity to warehouse fund and available ratio

weighted notes, average of we the fixed quarter, priced transaction advantage market X.XX%. our were the of to-date, asset rate million $XXX interest issued backed rate at During three-year of the notes largest and took a favorable credit

and warehouse our of Additionally, month, we later expect the announce extension expansion to this capacity.

continuing the economic to for XXXX, historically third million that of ahead Looking of adjusted our diluted outlook quarter to strong $X aggregate context, is and quarter and and per we expect and and shape the the XXXX adjusted approximately million, million the credit performance. between third our half $X $XX million $XXX recovery income approximately second Total adjusted of net originations revenue million. EBITDA our trends between million, and share between $XXX $X.XX. With $X.XX earnings $XX

follows. diluted million as net Aggregate our and full-year adjusted $X.XX. we're and of the guidance million originations and $X For million, per at $XX earnings $X.XX between EBITDA million billion, between income $XXX between share and $XX increasing $X.XXX between revenue adjusted XXXX, total million million, assumptions least adjusted and $XX $XXX

remainder We basis expect plus or lowering or our for turn back we projected Raul rate final points. minus delivered net minus a the to have now for it XQ and a to basis of And be some annualized rate summary, XX our for strong X.X% the I'll year. over points. the line open questions. charge-off In positive plus X.X% we're we full-year, quarter for before comments outlook XX the to

Raul Vazquez

shareholders dedicated XXXX. all inclusion. our is our and track commitment for with This are made I'm pleased we second our for hard financial employees, continued support outlined our our quarter the for strategic to achieve on and of by their I'm we performance, possible of furthering grateful mission and partners the priorities working

As our U.S., become solidify affordable products and responsible our available and your across we welcome hardworking operator? comments, And as the increasingly to credit Thank provider questions to you. now continue leading the we products of position people.

Operator

Thank you.

session. Our go Please question John Instructions] the ahead. first with [Operator comes We line begin the Jefferies. now of will from Hecht Q&A

John Hecht

a afternoon my good Thanks guys. questions on for Good taking congrats and quarter.

there's - slides the DolEx of what the effectively channel going can on the through you here. launching know the channel. you're channel see, we Just expansion I with also a MetaBank But backing lot kind the as on And you much some give you're the of origination developing? of some second traditional Oportun might tell here, how maybe us that details speak maybe the or from this commentary versus channels come newer can us with channels half

Raul Vazquez

Yes, Raul. hi John. This is

And in the about to the the happy bulk So is we're business in flexible and how you're seeing last of business. we is still driven year, opportunities DolEx traditional to being way now strong as XX to thrilled to that. ahead top on we is are growth we've pivot you we're think ability the for growth. and that we the our by locations, DolEx up at from XXX that know our plus think are, our that demonstrated resilient XXX. we're is, that's back And by business of we're of adjust expectations that. to early, really tools talk feel how that And our of We years, quarter, being exciting this that the the the had needed. about and schedule, XXX Really, be took still MetaBank, our businesses driven it growth particular,

In and So weeks. we're be. in then excited MetaBank, about into DolEx, going relatively coming it have it. we expect what start going to scale the small, that's we'll to that's and like launched lean to But

growth, they're not So the exciting future business. but driving growth, opportunities the for it's traditional

John Hecht

then? really should think to we those kind other then contributors of challenges year's So next originations about more

Raul Vazquez

strong nicely good That's a back correct. We for ourselves really we're really think setting a up return having are our right now, XXXX. we to growth, but not only

John Hecht

ramps Okay, should to there product does card pretty of as auto it yield see same in Is and type fall anything or and much or kind metrics? of to then the call of we as products the ramp. the everything kind margins MetaBank

Raul Vazquez

can try story going back as for we a it to manage we same the kind to as on We're to have investors. try fall to to of the the simplify want business much metrics, portfolio all basis, we our

a think to company kind see we level, at come and back to about So metrics. managing same of kind everything going really margin the of we're

John Hecht

underwriting you of And lot enhancements. about developing question we and spend guys model. final the then more know different time more I is, AI Okay. talked a

maybe and of guys, year, if a can how every color think overall recent talk performance? the most enhances you major you kind the one the you I you I in developments recall, how about model do I think that -

Raul Vazquez

Absolutely.

come don't in had give we've the historically, you So when couple you examples, year, customers of models score. to several credit enhancements half they as of I'll us our last a to know, about have the a

a of built alternative the call ADS developed we model. that we've It's So all off model data.

records. seeds of the from any that of model credit none bureaus or those So what comes

we to versions marketing versions we our created models, created models, last our ADS updated So that an we enhanced, drive our collections. in year, new we new of use we created the version of

place us upgraded So saw business, card taken the that's giving there's for that a into been quarter. describe lot as that and really continue the credit this confidence growth across credit card work are to models us well of you to lean

the that's place there's models. to work point, your to behind keep So our of improving taking a tools lot upgrading and scenes our

John Hecht

very thanks guys. Okay, much,

Raul Vazquez

John. you, Thank

Operator

line David question of ahead. next from Securities. Our go Scharf Please with JMP the comes

David Scharf

you Good you. and afternoon, appreciate thank everyone, my taking Great, questions.

you follow-up things this of obviously, would highlighted about So the can are of if imagine such originations if that as sort as But of some $XXX the we Jonathan, in, just you million current, of a rate. location, with can of new costs, because be clarify for to it up of the acquisition OpEx, the and you it Starting or perhaps will, $XXX two lease investments expense the do one-time million product be should those one-time with point, rate should related new address One, it an thinking maybe nature? the sort I off like you even we optimization, closures sounds keep sort is of I run number, ongoing. scaling investments if on. as think product that a are lot jumping then of some quarterly customer lower grow, impairment,

Jonathan Coblentz

it. David, question, great I'm a that's Yes, answer to happy

loan X% we've saw as grew in expense, we year-over-year. core business, been and our doing OpEx personal good really So controlling job of a first of all, only and you

that going historically. marketing the to for we've so trends to seen We're expense growth same see core the business. certainly continuing in And we're we're see seasonal to, going

increase so we expect And demand.

marketing have be same of level will increased product definitely expense. new there we'll so continue expense, roughly And to the

OpEx So, from forward. you going can And triangulate perspective, we've provided good think could gives look I obviously, a around of what as like that well. that you that idea so guidance,

David Scharf

Okay, TAM sort Are new front, customers terms directly the add they terms now prior of on credit borrowers all you secured flavor accounts to products, and card side primarily that give expanded borrower to auto? the can and nature how on or active being of just XX,XXX great. new borrowers the in product on maybe they with the that more respect a the you follow-up color some of And customers of these the or profile? marketed with two Oportun little to, in is the

Raul Vazquez

David, this are Raul. love to that two parts There I that. is question.

The us first that customers some know has is, we've us, net years. have we for going score this another we end-up on credit even with analysis know to that And really happy with you've customers heard happy as card or to are loan. done in in before if got based XX% thesis you the to that really, past that those a we've our an get get right, their range really and company promoter they're the been auto

in application we the So secured as therefore, it in put effectively products make particular is seeing funnel. those adoption that put personal funnel, drive that application of unsecured in in customers the other products, of great additional we all that the same of loan. personal we our with our aware of terms leveraging we can leverage have tried can where one And that, to theses loan was do funnel of first funnel leverage the and and product that the And marketing we success that to products. really we're

we about things products the credit even products, how particular, of in going in create possible, How products time? to going as many becoming them someone success products the try products, create time? to create and more out as products spend, then that credit help continue able be this and we're cards. we're do one and you're is present customers in to has for budget So secured funnel, next that we revenue, all with save, next do card can to seeing help one a life we bank can the experience to all someone we now we're future, think so over create going to help additional present to having more to experience, us that these loans. our with one do, can a validated longer see we products one So feel profitable with that customer, create can can personal to credit per been that as then we And thesis to we that diversity in more and figure

what do another seeing start offer customers number be Number if loan someone in about so of do we have course, a question, clean get those feel are And doesn't to rates So to-date to have that primarily done like? fit? terms to sense product of that who about We to underwriting, feel we models card two, then not today, wanted going response able look of a one. be calibrate what with we do really how would the the part we is have credit your metrics. How to a credit market product.

And to undertaking really, inviting product. the what our for more on next customers been on products, happy you really which we've now working three which that. one exactly on working have than of is so underwriting metrics. that said, credit all is far with And we're The stage, models and we're

for given and in So that's XX going to the particular. our that be through that months got our a served to two confidence tools models the recessions in of how able we us. lot and well next But well, us have we're stage do last

David Scharf

grind might the bank Got quick and it it, Maybe in opportunity, in add terms those application, just which It's terms it. obviously. months, you are one, license approved? obviously to hopefully that XX when there that XX helpful, update in slowly, of tremendous but get provide one sort got because process you any guesses best passing is briefly, of of wheels raised that actually regulatory can very

Raul Vazquez

has taken place. there's point, that change I a lot of think your to been

one two since there now people And roles So in been acting I with Controller. started been that process then. have have we think this

So OCC. we But the now. update optimistic, continue that can positive to with have I conversations provide that's we continue the the of be to very extent right

David Scharf

Got it. well, you. Great, thank

Raul Vazquez

Sure. Thank you, David.

Jonathan Coblentz

David. Thanks,

Operator

Our comes line Sakhrani the KBW. Please from ahead. next with question go Sanjay of

Sanjay Sakhrani

behavior, through your guess it on Are of stimulus further away guys. guys the and consumer any proceeds? on past in behavior Thank customers you, as from I you we're stimulus question seeing and moving changes the Obviously, of of form you repayment whether be that? amounts? starting us you're sort see growth. traction repayment Thanks. or could to some walk loan timing Maybe

Jonathan Coblentz

Yes, makes so us really optimistic. everything really, see we

So side normalize, start we XXXX. in things more feel that look side, whether curve it's seeing on we're seeing payment or the the demand Sanjay, we're like trends to much

the And and a So of all that share XXX% the into a into feel And confidence to showing confidence we to we showing reported leaning year-over-year, the taking we're that are given and right, is curves that confidence is in at marketing us part our that's by right up, really had and business. And in we lean firms. have way number the we look the that other consumer the dollars the we the grow look economy normalizing. And fact lot loans that saw are year-over-year. of us now. what's been and at in differentiation lean way that report, of numbers origination XXX% us really you the given growth had

Sanjay Sakhrani

I performing consistent cohorts? your seasons line but days, of in they're of rest Okay. And then seeing cohorts if terms you're know anything you're business, the with or of sort the like your in a on anything just with curious I early expectations guess mean it's and I seeing but those question in DolEx,

Raul Vazquez

do like real looks going expected. the business someone in so the to is is customer it's products Lending-as-a-Service proposition we seeing giving That's is understand lot We're the going we seeing that to labor. desire terms that to well, with a the value We've present with seeing of to in confidence talked fact we're That way it's faster our partners think much credit, years, both a the future that and the in opportunity estate, presence is that us we what else's even that of expand else's is structured, grow an too. customer. past we're partner a model exactly we What fantastic. the new are about that our someone also

So it's and formally are as quarters, absolutely And the is we partner also weeks. the shaping the us And overall up the about prior we're that we've announce economics coming for said, compelling. in second that variable way excited our in for like really pipeline will that Lending-as-a-Service.

from from DolEx if would larger year. then combine we that be plan. And through we're where we're a the going think network say, want distribution year we're footprint. at a XXX this Sanjay XXX. fact partner, another of be XXX XXX that's now And ahead the than So with and creates right, in partners have partner, with additional in current of terms to context, you store locations Lending-as-a-Service, a then into that end over ready now bit why we expect to the next to say And just that to that resent would second we new to we're our least put

again, growth. So for opportunity additional a really exciting just

Sanjay Sakhrani

guess to of I question relevant topics. recent final Great, sort

You that are scale seeing you platforms loan they're on types consumers ask And customers seeing a and grow? Pay curious it concern the this touches Buy Later customer, lot reason And of Now if is, right? I'm that, these your how you like there's just extent I think you loans? insight the Later to have number guess, Buy of stacking, much And Pay a take from those as of do I these platforms. different your have loans Now feel

Raul Vazquez

way still our them four really those don't or terms loans, product, the split we think of carefully. watching a it that space for is that at into it kind is are we we And split this of think six. tend loans so to of impact Yes, be smaller the look today in we're bulk has right, demand

buy So to a different it they use because medical on it's very card almost say someone savings, a case with either is new from attention. average, the that a combine than, us, other borrowing that start, $X,XXX want or car borrows

think out Afterpay more some for that's The of Square other about customer certainly interesting, what data is, the the was that than really is example, thing at looking Afterpay come read, I've and affluent and I is. customer from our

other use So as we we that to underwriting those in cases, to because create engagement develop with present loans able expertise them with we seek much take they care to anything, if our think yet. players the this us represents to customers, future, have it an opportunity be larger for competition, partner more we that do not more, haven't in Sanjay of and think could to think an had

potential So And see see for it as complementary. a Lending-as-a-Service as years. in future opportunity it we we

Sanjay Sakhrani

Thank All great. right, you.

Raul Vazquez

Thank you.

Operator

Our next the question comes line go ahead. Instructions] with JPMorgan. of Shane [Operator from Please Rick

Richard Shane

taking a quarter, changes pull thanks this curious it? And guys, my the was right the year. Hey, upward I'm Look afternoon. questions outlook what much way really adjustment? else? to than you we on adjustments update guidance. the you on a basically How of Is at much And more the be an do how looking appreciate the are the about anything earnings of forward I'm function guidance to the upward of think is when potential I second assuming charge-offs for saw that in the versus for think

Raul Vazquez

combines it certainly Yes, value calculation. Rick, as it fair our with

So a great question.

took across the all, first of board. guidance our of we So up all

you at point by was had adjusted adjusted assumption, what seen that speed, we did the the largest had net pass income charge-off a certainly of quarter. look driven strong right. through reduction a in we remaining EPS, we in our take So elements basis where When XXX and

growth the so at other as forward you but up projecting, pretty mechanics And that range we that that's and our suggested, we're the adjusted higher sort pull So look taken all and up much passed taken the given the allowance revenue, same does EBITDA, metrics. through likewise, certainly originations. there when provision beat of you that as and total we've and of

Richard Shane

Got it.

was of sense. assets, that a function Is marks about example for the there were well? QX above that with in math a the the If you're mark Okay, cash the now we need lower we historically flow makes favorable, to to when fair XXXX, way to, markets very look all that. back is at a go related think charge-off watermark, high the now Or assumption? any to economic to we entirely as on value obviously you're at associated that outlook if

Raul Vazquez

of great The question. majority it the assumption. vast loss is Yes,

to prior the the that cumulative pandemic, remaining right. had a we nines, assumption charge-off So was in

And so we're June of at now X.X%, as XX.

that's a difference. big So

lower we brought transactions benefitted environment, asset rate we are tighter when a in credit spread backed from to we've are in a that, market. environment, We

environment. it's that as a well, but loss really So operating contribute in lower much does just

to losses, lower loan cash with value. flow more have from a and higher the you're So going

Richard Shane

really did guys notice assuming it's forward. function a it, there your validated, was going swap you Thank Got down of I okay. but very you and rates, a again, much. I'm lower Yes, modest rate tweak in forward NCO that

Jonathan Coblentz

Thank you.

Raul Vazquez

Rick. Thanks,

Operator

further no questions back for I Executive remarks. will turn Chief to Officer are There the Vazquez, closing call at this time, Raul over

Raul Vazquez

speaking to care we want I with look to all absolutely again everyone. us you the call on and Take of today forward thank Bye-bye. joining soon. for you

Operator

does conference your you conclude disconnect call you. please thank participation for that you for Thank and lines. all today. your ask We That the

Oportun Financial (OPRT) 8 Aug 212021 Q2 Earnings call transcript