Earnings call transcript Q1 2023

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Operator

Welcome to Oportun Financial Corporation’s First Quarter 2023 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. Today’s call is being recorded.

For opening remarks and introductions, I’d like to turn the call over to Dorian Hare, Senior Vice President of Investor Relations. Mr. begin. may you Hare,

Dorian Hare

I’ll everyone. today for are to Officer; and our Raul Financial to of Administrative Coblentz, hello or results the by quarter that operations we operations. contemplated objectives and services, our products business include webcast forward-looking place to and Oportun’s of forward-looking planned and those XXXX Chief strategy you some reliance future caution Officer. Chief may business, of and results these Vazquez, remarks results on statements. position, Officer management everyone future With Actual and from and on discuss call differ made me the these plans and first Jonathan financial remind not will Thanks, undue Chief related forward-looking Executive materially statements, implied or statements

of statements the and obligation new quarter XXXX. Any risk as on this events with of required undertake forward-looking we XX-Q XX, in information as these other set could detailed Risk filings call our filing press the a are these more our earnings Commission Exchange for future Factors, are ended result our to factors law. on or assumptions A materially that including update we no based as by to statements Form forth March the upcoming make under results the today, and that caption, of Securities in differ and discussion cause release than

which financial materials, our will results definitions measures our and be will the can which found A believe useful appendix list XXXX supplement Non-GAAP we the Also reconciliation Relations Investor business, on present measures GAAP. financial investors for in useful GAAP at GAAP full earnings of our in information measures, the financial operations. to all XXXX of at section website measures quarter of comparisons website. financial earnings Relations are and our can in our on the both provide regarding a today’s as condition available of section call, substitute financial of and of is first and we non-GAAP period-to-period our for be included with presented quarter in of accordance financial presentation, investor.oportun.com. addition first measures to A calculated at our section non-GAAP release, the and which not are Investor press available earnings core to

call remarks. our along In being call, of webcast, version an be script with addition, is and archive prepared will available after a this the

will With that, the turn I over now Raul. to call

Raul Vazquez

afternoon, share I’ll good quarter joining costs discuss managing by efficiency, financial Today, maximizing minimizing our dynamic through macroeconomic first initiatives. strategic everyone. for on Thanks, Thanks us. will provide environment Dorian, an and update I our performance, and how and we’re this

million, revenue $XXX exceeding balance higher me generated QX guidance begin reflecting XX% We anticipated and non-interest performance. our total our of up from Let our product. daily year-over-year, principal and Savings income than range higher with average

Our points. plus first XX.X% guidance XX rate also basis XX.X% our charge-off range of of annualized or outperformed quarter net minus

to address standards As impact our underwriting we members. the tighten starting a July, inflation to last significantly of began reminder, our on

defaults levels. and XXXX than post-July the or near that delinquencies pleased perform We’re better our payment to continue pre-pandemic first vintages on

range EBITDA that to $XX revenue management, produced million loss $XX disciplined provided. and compared we higher we a $XX adjusted driving by exercising million Finally, the expense narrower of to million loss guidance

value. XXXX in and generation focusing We flow EBITDA because business impacted demonstrates by swings of cash in adjusted the it fair the is on not are it capability

entire still focused our value done, and adjusted for more net QX impact team mark-to-market and work be quarter. on the Overall, is value of cover non-cash progress the changes. income this fair will is we shareholders. good Jonathan made There to driving

is us, headline business for starting monitoring the now in we and carefully we environment. shift with that we while conservative are control, go regarding how focused economic a me the I’ll that that the managing are on can expenses. uncertain taking things means to are environment. Let The into this what stance detail macroeconomic more

to XX% ratio, QX a and our quarterly First, our committed operating cost basis efficiency. structure. XXXX we’re X,XXX better We optimizing over third QX for fully record delivered efficiency than consecutive points adjusted

we is necessary for are believe growth. However, Oportun positioned profitable additional ensure expense to reductions best sustainable,

our today to cost efficiency. optimize our we February, we we measures announced In to measures the taking that enacted in lower addition expenses further are reduction and

Specifically, our as XXX well expense and as spending. reducing another reducing we employees, base vendor are further by contractor

These million by the actions and end we center this took in corporate XX% an $XX will annualized year. decline our which with the excludes QX, of in XX%. to staff, combined actions, mean which contact million, corporate by we Aggregated agents, staff by additional annualized will $XXX $XXX reductions million $XX February have our total retail actions of will These savings with generate the the million reduced savings result to year. of

the in we’ve highlight to reduce a to want few work costs I ways. done

In our expense reduction $XXX run XXXX we XXXX new cost when base of rate will to approximately the exit all translate efforts for that million. OpEx expense XXXX forecast, a we terms QX of of approximately operating expect $XXX million,

ratio operating principal also owned of can look OpEx balance. which We expenses at annualized ratio, our is to

improvement Slide XX.X% QX basis point X, on in from see in OpEx our was can adjusted QX, a ratio XXXX. XX.X% XXX you As

the ratio OpEx adjusted XXXX reductions. would have QX been XX.X%, pro Our cost forma for

owned XX% is XXXX base full all Finally, we’ve we to the XXXX. but basis, in each the and are the revenue whereas portfolio. portfolio XXXX our higher metrics total base than for we these There an anticipated expense the expense metric, On XXXX compare in expenses, done the business revenue than annualized future highlight considerations can absolute XX% QX growth unique XXXX that position year revenue, and with higher our success. expect our growth to the XX% XXX% of to be above will work guidance operating will

our to originations on in thinking this shift now me environment. Let

I’ve not for evident was credit last originations. standards That performance are on QX also As the in we our that are we year. with several of XXXX. originations from quantity been were shared in July down originations our our which $XXX sharing million, tightened of we’ve the same quarters, of since quality, focused we pleased period notably

said, That our to be it’s conservative environment prudent and uncertain this of we since continued earnings last with in credit our originations, level in believe tighten March. we’ve to call

current when view such, envisioned levels lower our to is than we As for last this year origination we you. spoke what

of on understand share business year, guidance providing and you not will to to with Jonathan we’re managing this perspective are sharing you sense guidance bit we with that give a this I am comprehensive directional originations a how the more you the later. help you Although

the loans our we are book XXXX over the refer Turning represents as is to book last despite front our originations performance. environment, at origination and, our the delinquencies two distinct we back prior better book, The The and levels the the that portfolio near originated back credit than our drivers: front the this that nine to and months refer inflation, or as in book. post-July which continues have to significant of bulk charge-offs. which performance we the vintages, represent made performing of credit-tightening, to continued has to

delinquent XX our QX collections because was managed delinquency basis from guidance Our late-stage losses. teams successfully our analytics QX keeping loans and performance range points turning buckets, the than middle into loss those the better of thereby

didn’t in in simply book, but continue delinquent be year, of back the some light charge-off of some manage loans tax carefully the to QX continue QX into much refunds QX. to of shift the may We lower expected that this and, losses

losses underwritten that $X.X the quantify this level of at is you, at challenge has will the billion decrease loans to of up a our end second our first reflects level higher our end reflects credit, will year, the am of that to billion losses forecast that guidance the comments sheet of the work changed. the Therefore, in loans on year. not average life the I QX one from Wrapping confident quarter of at top-end XXXX. QX, guidance end but balance quarter, $X.X for To book and only year my the of $X.X back through for on we successfully billion the our than pre-July our given this full

managing want relates to regarding are I in point business this to pricing. share environment final how we The the

yield reaffirming of end XXXX. of are year basis XXX our points approximately that be at the the higher will end this We view level at portfolio the than

have close increased very remaining cap our while APR yield what to paying. payments to We to and committed XX% members’ loan used keeping they’re our

our impacting that first recent delinquency indicate are not credit rates rates pricing vintages payment Our decisions low default and of performance.

few turning want I over things to discussing strategic minutes to Before spend Jonathan, a our

initiatives and allocating capital environment. how this in we’re

of the we’re and most two to allocating business. foremost, proven the First and profitable parts capital

allocated to business. which is core the most Slide presentation, loan on As largest XX% our earnings personal of component G&A for is of X we you our spend our of see profitable business, unsecured believe appropriate and can the

leverage AI investment. which continue to and to at is We that basis on data, is and levels savings XX% it at G&A allocated enhance product, profitability profitable cash of our of Approximately future in will our years. its a prudent flow level to technology, spend grow

Second, minimal we’re with maintaining optionality for opportunities current future growth

investment.

lifetime ramp those of Our of G&A results. products in drive near-term, said, we levels of to higher member backdrop X% have will across the initial by when validated financial financial more prudently improves. a total profitable the allocated offer products adoption develop growth values up That strategy the initiatives reduced and all was and member relationships and macroeconomic of early suite the inevitably capital to levels and to our approximately

environment, can monitor expense of – we conservative we while In the levels, our continue control focused economic summary, we carefully business, on core the things to are prioritization

this structure, efforts, losses of to into fortify credit that extend substantially initiatives XXXX sharply each areas and efficiency. our We will reduced pricing anticipate our pricing. business and collections and economics cost enhance to margins plan and originations, our and these lower approach

we our XXXX, to reflected maintain of stance, given uncertain plan remainder guidance the the environment. in be For will our which conservative

Jonathan will quarter additional With to for financial that, first I it on over details turn our

performance and XXXX guidance. our updated

Jonathan Coblentz

afternoon everyone. Thanks, and good

delivered will the optimistic solid expectations. I versus As am emerge a as Oportun first in quarter performance more our Raul mentioned, Oportun that

front business, more profitable book. structure, strong book’s performance, back cost our efficient our and shrinking given sustainably

million million lower mark-to-market or In we partially decline, and $X.XX adjusted offset total expense generated $XXX loss, revenue, loss revenue the expenses. declines charge-offs, net Slide as Higher and value non-cash operating net up interest higher X, of fair by adjusted earnings share. drove the of first of quarter, year-over-year, per and growth shown $XX net on XX%

our $XXX XX% originations aggregate ongoing million, Our reflecting were year-over-year, down

$XXX credit to on to charges tightening our of Net contributed primarily fair our declining of change notes million, non-cash also our by down year-over-year which on high-quality originations. of This charge-offs value actions included decline the million. of higher offset and including $X the was ABS net revenue adjustments in mark-to-market due focus million. XX% decline, net and impact net revenue. interest partially a non-cash and value Higher the loans fair was million, $XX total $XX expense revenue

remaining value for fair decrease. spreads as our our offset decreased a for book, driven to March assumption charge-offs XXX.X% ABS loans our of The value our lower of increase by notes. XX, on an due price back rate mark-to-market a and and fair reduction was discount in to million our due in by loans to credit resulted $XX cumulative of The interest partially rates lower charge-offs, higher tighter in

The in towards a average weighted from negatively increase $XX resulted which basis increase XXX notes, XX.X%. contributed earnings, point asset-backed mark-to-market to million price in our our

our issuance, up $XX and driven million versus debt of increased of debt the cost $XX expense to year-ago in million in period. Interest year-over-year, was the X.X% increase primarily X.X% by

we strong sequentially maintained adjusted and declining year-over-year. operating expenses discipline X% with expenses, to Turning X%

cost take of year-over-year. operating points X,XXX at see adjusted X, right As to over to course you hold the was of improve over side year. This the on of improvement XX% efforts an annualized from $XXX rate efficiency remainder our savings this figure million $XXX continue million will the basis of run Slide of can the as optimization

expense XX% and as marketing quarter, In XX% discipline. were $XX of part the first expenses our sequentially our year-over-year down sales and million, down

offset were Our as was prior-year from due period XX% $XXX, up originations lower cost lower marketing to aggregate customer credit tightening. by expenditures acquisition the

origination costs fixed our the Our given network. volumes, with with retail varies CAC associated

to I earnings of prior As in call, us the first non-cash a quarter fair have cause indicated loss our expected we XXXX. the value on to mark-to-market

a quarter, For $XX prior-year prior-year adjusted to loss share share of quarter, net net per versus million, in recorded per million an compared the $XX net the adjusted of profit $X.XX. an loss earnings a of and we net $X.XX

to guidance negative decrease but range along primarily Adjusted EBITDA charge-offs negative million $XX of and interest in $XX decline expense, sales. million the with by our negative was first in quarter, $XX $XX net of was loan $XX the a the compared impact million than to year-over-year better prior-year million. million quarter, The higher driven

will will three reflected minutes. that believe a We guidance as be the our share of markedly remaining during in few in XXXX, the profitability quarters improved that I

Now, regarding detail let me performance. QX provide credit

the first fourth annualized charge-off rate quarter in was and quarter. prior-year net the X.X% period Our compared XX.X% to in XX.X%,

the comprise as in our points sequential the our losses and While shifting to guidance the will Raul covered, in decline continues XX reflect our expectations be losses cause will book [ph], back basis to outperformed that, bulk of previously-expected higher charge-offs QX. QX

of March $XXX and total million, million was $XX XX, Regarding $XXX was our capital million restricted. of and was cash liquidity, as which unrestricted

resulted amortization, note activities in Also, up with for and million year-over-year, flow of cash a as March $XXX combined total $XXX cash our including net were Additionally, the XX, $XX decline million from originations. which million, of operations undrawn loan during XX% net debt repayment in These in ABS available. first quarter supported million warehouse $X required along was lines the quarter.

week, borrowed at the Last loan. we on secured the term upsizing million $XX the senior to up second $XX million

previously consideration portfolio the position uncertain fulfilling manage the penny for an increasing The call, As X.X% of on the an stock warrants representing macroeconomic downward. our approximately liquidity company. backdrop, our included common earnings draw are we of book for while discussed and funds purpose our back their amidst contemplated second

XX net points guidance, our adjusted revenue $X rate plus of million XX.X%, quarter of basis for to to million is, $XXX or now of minus $X to outlook annualized Turning EBITDA million $XXX total second the million. our charge-off

from year XX low-end plus XX basis to $X prior XX.X% high-end the is, our guidance revenue by with full in-line the maintained billion or increased guidance. net points, Annualized total points $XXX prior Our rate for of million and with the basis guidance. of minus our charge-off

to approximately of calendar $XX $XX this offset the expense up expense. and by in interest at partially year, charge-offs to our from million be million million prior new Adjusted driven EBITDA reductions $XX $XX guidance, million, midpoint by net higher captured non-corporate

turn conservative us reduce a the to base call origination current share maintain confidence navigate I and with want to become a I profitable the over that decision our Before more have allow stance you environment that expense to back and our to Raul, I sustainably significantly business. will

to over back Raul, you.

Raul Vazquez

Thanks, Jonathan.

and quarter, of and related a solidly perform profitable progress macro made the The we cognizant team environment necessary remain adjustments create uncertain and implications. I we while the highly communicated in the first credit have we’ve As the more to made and leadership more efficient business.

spoke its about XXXX significant will over expect to the we in and enhanced beyond. which we forecast, flow With carry reductions prior today. Oportun cash expense comparison has into our

line let’s With questions. the for that, open operator, up

Operator

John [Operator you. your from comes first Please Thank Hecht with Instructions] question. Our Jefferies. state question

John Hecht

much. very Afternoon, guys. Thanks

just cost possible. respect we, you so think maybe of course about to I can as gave the as information but saves you with of the, in saved our cadence accurately us, kind enough models the detail the it some the just net year, over give of get

Jonathan Coblentz

said It’s expense around, our fourth would $XXX in the expected that Jonathan. million. be GAAP our remarks that We operating Sure, quarter, for me, excuse John. we about

million, a over $XXX modeling perspective, the to couple think it, kind again, of the very from I stepped that it’d So be level, quarters. reasonable down it assume current from next so

Raul Vazquez

is Raul. this John,

the see reduction take perspective start we about think to way other action. from modeling months to after, impact that we is three about cost the this a The of the

this August. we start to savings to the really in took February the I’m action We the we’ll June today, start of to So February and savings and the the expenses sorry, that see from that really will means action the start in month see action. –

the to say expense to that’s – terms way monthly you’d quarter of and think it the in. that in about savings So what other start see savings

John Hecht

different helpful. you guys on very of – And for that’s then you lean growth. have Okay, lot a can channels

do channels at of where, fine you backdrop? You’ve given given partners, like call your few on of, got over there own you’re digital next own channel quarters, Is tuning how more kind of those the you’re your retail the store less partnerships, or that any bank some mix business? the the of your on about relying organic base, think that kind

Raul Vazquez

three we’re relying we’d continues bank we’re a think with. channel. right say that be partnership are the the I channel channels pleased certainly, most Well, our That now to on that that

with also our having bit retail We’re necessarily quite spend without pleased environment. that a outbound this channel marketing because generates of traffic to in

in digital. cut channel And XX% year-over-year. we to we marketing for is that reduction in then us. The and is down have online be that and finally did and a that taken good bulk share about of continues sales sales marketing The

So channel seen and cut we reduced continues the strong a we there have applications John. as us, although loans there, online to be for marketing

John Hecht

maybe And that guys Like or specifically Maybe changed talked in terms characterize you Okay. have obviously should that quarters months. quality? you that and and see how that then the how in incremental be the do benefits you the see we underwriting does coming front how over do we and may about tightening the – how do credit or what factors book? measure

Raul Vazquez

free things our both new focused those today on repeat past, borrowers, across had the we’re in cash two, on and then who one, really focusing and borrowers, focusing the on that number really in repeat so, those Yes, originations flow. really number with loans success who’ve have are higher

Although inflation is Inflation persistent. down, continues to be very the right. decline is coming slow,

those the right have flow. continue thing think free is who now cash do we applicants, to So focus on best to high

X the can over to that they line the chart. that line what our to green that’s the that below we one. measure see at can And the last continue you nine continues number When that payment in of put we in below of some content that’s deck, Page And success, earnings we see the green first really earnings of deck. XXXX. on be the you at be terms defaults, look XXXX. to originations look months, In in That’s chart, really it’s our

that So us confidence. gives

XX XX of or then look Page day the And January. rates to what the to better And from all XXXX deck, like of those we plus delinquency on near levels. be at shared also September continue

really the we you the other the we we’ve look John, book, us think though, we finally, since those that confidence, when loans So at to just and made to look book then a shrinking. emphasize show about chose that try to really dollars the you ask, back right, this when to thing back is point book, that’s we tightening. picture, didn’t And it how that front overall at gives the declining quarter as in of much

see in So can QX. $X.X that year. the million it of end $XXX quarter It the was another then by this the of will $XXX decline million billion at remainder and you

So better becomes a decline, continues we’ll losses front as the our book of bigger a and delinquency to book bigger that and emerge. picture start see and to overall proportion

John Hecht

Great. Thanks Thank you. for that all detail.

Raul Vazquez

John. you, Thank

Operator

your comes next Morgan. from Shane J.P. Rick with Our question Please question. state

Rick Shane

that guys. looked necessarily have it the is lower Thanks going in there questions. credit. than at of of? bit we just two first aware given there would for rate when quarter, be and that repayment terms expected should One we a little tightening or seems noise of Is given some that something the Really the we on is seasonality

Jonathan Coblentz

Rick, Jonathan. Hey it’s

I our customers. with refunds tax been for that’s lower tax what think saying consistent returns, being we’ve about

lower would see So seasonally cash you payment flow, with rates. less

Raul Vazquez

Raula. is this Rick, And

refund to year-over-year. tax know, of indicates largest get up one tends lower say year. I point XX% checks the that you’ve our that And read years, being refunds be members data that this As the ended that heard you tax week all last us a over

almost we’ve a the So ability get checks members at would of lower, the imagine, repay impact and as – biggest that to can historically their QX. rate it’s seen you that XX% in our one that’s if

Rick Shane

obviously And the it. that makes Got which outlook, into rolls QX credit sense.

Raul Vazquez

right. That’s

Rick Shane

start the XXXX out other obviously under curve stands vintage that we out out to When thing to – flatten really is this you time what inflect? to at the that you me normally for upward what should be performance clearly trajectory. to the see looking The stands to a it is vintage, and of by about sloping look when but have start curves that see continues

Raul Vazquez

the think That’s that XXXX, I we’re that book part managing, Well, really impact that that you Rick. that’s about if the actively that, felt really, vintage was been start impact the that the elements of inflation think of that’s high talking just higher in gas to prices, normal the seen higher felt of all rents, really the we about season. tax would’ve we’ve a curve flatten that out the

quarter we collections are do can How have payment get expect members? to out yes, information do that best out the we’ll in really normal figuring just that’s is with get we so to teams next that provide that more how focused those touch see? So figure they we to and our where way analytics way to the them back help behavior would because

Rick Shane

we than we but delinquency start comfort basis. indications it. is start Is from, when these see anything a next of slowing again, that think burnout? flatten look trends things about what we on six can’t there Got would will Are sort months can when some give vintage change – of there and other the that that anything at other than or the to that vintage for months be to just normally, rate that we three because And the looking see year-over-year the curve delinquencies. over of out you there you charge-offs,

Raul Vazquez

the Yes. pay. to to always and Well, high our a challenge have felt pay. The is members ability anytime become challenge say we’ve that a willingness delinquent they

to we exceptionally couple on So the you me is, be carefully and number got confidence, you know, just I a strong. days ago the think information about give because employment market this things all this, watched of they when this, continues Rick, few one very

earlier, The down, is good though, being mention down – coming coming up just ends is is it slowly. sticky. I right. it did news two, It’s inflation Number quite

their temporary our to with the can that a side, problem flow the days. So market someone other reduction cash in with when a just think help span a actions of help and employment then over it’s that things temporary in improve we of are starting in a to the strong past on bit, of their XX a say, things us take sorts payments, making combination Those whether that inflation we’ve we someone seen abate the really payments. dealing is

economically really the stays strong. is. gives what So market us that’s job are very while bit Things confidence a improving

Rick Shane

it. Got

Okay. you. Very Thank helpful.

Raul Vazquez

Thank you, Rick.

Operator

Thank Instructions] question you. Sanjay state with [Operator Our next Sakhrani from questions. your comes Please KBW.

Steven Kwok

actually Hi, Steven filling for taking Thanks my this in Sanjay. is Kwok for questions.

The I that around had the guidance, year, fund it half first one the If at was book back implies of expect. math rates about of were I year loss you first just your just to full the do versus the the a half midpoint. XX.X%

Just book to more is of to the get a front from charge rate what and book longer expect from how perspective, curious normalized is that think what should a to? the back about off as term part versus you we

Jonathan Coblentz

great Steven, Yes, question.

articulating think goal that. been I X% to consistent ultimately long-term get So, our charge-off is about range. pretty We’ve back X% to to our

your suggests in year the terms agree year the of half and XQ million the ago, It’s see the our second levels the to you and $X.X on the of deck, book then the we’ve expected book. and know, it’s it’s the to but is kind billion guidance math shown second Slide about going that, of the into the level of back in it. to you moment guide million contributing, full decline about state back year you won’t Right? this contribute of specific do a half math with March a XQ of can year. outstanding. at mentioned and lower In can that our $XXX going I back number high As XX about a but of still losses less. I Raul actuals dollar And the end to by of have declined by at XX, $XXX comparing

less So, we and contribution. expect less

Steven Kwok

of And that? the then I’m on guidance, you type charge-off are as guidance using the prior on anything Got full changed side? year relative the to assumptions Has within curious macro just to what it.

Jonathan Coblentz

we macro haven’t a a just No, I changed in think continuing members. perspective, our our market assumptions to from of strong for terms employment see

talked in I continues are past our about worker be the the of is blue throughout employment think there but strong. industry, right, that quite we’ve place layoffs kind member, for that market taking sense are typical certainly collar you’re as our to the

So, we robust employment for our market assumption haven’t changed our member. a regarding

Steven Kwok

Got was versus, about million, $XX is that it. have the attributed just EBITDA better? around $XX And quarter, being much million. I the to outperforming the the of this of back Thanks. final raised guess, year question How perhaps I by remainder

Jonathan Coblentz

$XX saves to it all incorporates expense XXXX. think saves I the of the We And offset right? of announced – that expect incremental in that, over potentially expense we million hit coming by potentially expense. assumptions and and with different always higher a charge-offs potentially look guide. up and of range a We at multiple scenarios guidance consider higher interest total setting in that’s

Raul Vazquez

that improving positive. and starting you adjusted indicated its guidance the and EBITDA with of which guidance. did And in quarter, for QX, QX confidence have, raise improvements point, could that tell, is Steven, quarter, by single there then in profitability your expected as our But are we fact were I that the year the high to full every that are think underlying that guidance really being business degree we a EBITDA adjusted is significant right, again, this

Jonathan Coblentz

That’s right.

at If what half. our over you looked implies, adjusted of guidance the second it $XX on EBITDA suggests million

Steven Kwok

Got my taking questions. it. Great. Thanks for

Raul Vazquez

you, Thank Steven.

Jonathan Coblentz

Thanks.

Operator

time. floor remarks. closing at Raul this no hand There for back the I’ll Thank questions you. further Vazquez to are

Raul Vazquez

soon. speaking for call, to again with I forward want thank we to once you everyone today’s and look on us joining again

Operator

a All concludes may that parties Have day. today’s Thank disconnect. you. And conference. great

Oportun Financial (OPRT) 8 May 232023 Q1 Earnings call transcript