good Raul, Thanks, afternoon, and everyone.
enhancing track we confident financial our this a you by exceeded mentioned, on X strong which expectations Raul profitability, Slide see being XXXX is objectives. that or Oportun long-term had fourth momentum guidance GAAP can by As met We're profitable the a that towards to full-year we as including quarter poised we in set. we basis into on further our carry that
in were for GAAP profitable quarter. of income net $X.XX. are net million As We shown EPS at on the fourth on with Slide consecutive $X with X, $X.XX, diluted revenue fourth million of quarter income an of Oportun delivered $XX.X the adjusted basis adjusted we total of million profitable adjusted and $XXX of for EPS
of $XXX partially in year-over-year. up year.
Total as $X maintaining personal top point throughout balance year-over-year typical discipline, XX% credit While exceeded million for end originations $XXX average to actions. were a our aligning prior and XX.X%. daily declined yield up portfolio principal in originations X% of due XXX-basis the X%, impact revenue decline ramp the with increase result million tightening offset a Sequentially, of was million portfolio credit our This to loans in a by by by the the of were seasonal pattern guidance
'XX card in mind of $XX successful it's accretive keep to million our and Given that the sale of completion bottom-line, the XQ was to while of portfolio mid-November, contributed revenue important for the year. credit card total million credit sale the full business the in for our $X
$XX financing was amount driven write-off XX% which of $XX prior on year-over-year, of repayment related up one-time earnings due million, Our total net the to deferred estimate was up by year-over-year.
QX million part year-over-year. call.
Net I improved primarily of $XX third was decrease million the million indicated primarily a below as refinancing. facility charge-offs $XX of $XX fair the in of million revenue financing interest was period costs slightly current $XX value This our quarter $XX November to corporate expense our non-cash of XX% million million,
lower net notes than expense. charge-offs value interest non-cash our fair lower on lower offset marks and and higher As total revenue more asset-backed
included million ago, revenue $XXX that net expense non-cash fees year-over-year. Excluding XX% the interest up one-time financing deferred been million, write-off mentioned moment of a of have would I $XX in
we reminder, value fair stop the to fair to maturity. minimal expect impact new we and a XXXX, value this elected As in year and after debt financings be approach financings prior as
part expect to credit from million of now drive to debt year million operating other including improvement expenses card Accordingly, a of million growth.
Adjusted modest increased marketing with plus operating in one-time as of the XQ refinancing, million approximately approximately related our Turning still rate. rate accrued period. and in previously operating items, quarter. below I to year expect in 'XX operating $XX.X a reflecting $XX million, figure our benefits, prior expenses to product exiting costs we million the QX includes $XX true-ups those associated total note that this wouldn't in benefits reduction that XX% of $X expenses the our related one-time and to reflected estimated occur been compared normalized expense originations million a $XX our was would exit a XXXX, these expenses $XX.X prior efficiency, $XX income during have quarterly target. benefit the to run investment net in million, $XX Without our capitalization
million, improvement by The that structure $XX along points, increase increase net principally fair by which reduced of charge-offs.
I'm year-over-year was our was the was by our lower This adjusted X.X% cost XX.X $X.XX reduced of margin impact EBITDA our year-over-year with our EPS a of mark-to-market last notes, excludes or the $XX year. driven cost quarter. net versus portfolio pleased adjustments million percentage on along in increased loan with from XXX%, fourth structure of reflected Our and XX.X%. adjusted sharply to higher driven sharply revenue.
Adjusted EBITDA, an $X.XX value
charge-offs. primarily high performance operating our guidance EBITDA on anticipated $XX adjusted lower Our expenses by exceeded net than million, end and the of
to progress shift me QX testament Let now that significant our the performance, more strong credit made. we've another details to on
back book XXXX, XXXX to while roll loans to since off. loans, originated of continues July of Our pre-July quite continues well, front perform our book
model. losses see improvement Slide whereas book can front result, than have on XX-plus XXX of you points seen our by Slide losses X% more the of our point to you recent our As economics credit book, book previously our our annualized book months front XX% XX.X%, model.
Furthermore, on an the XXX This our annualized in fine-tuning rate predecessors, is see rate vintages our for In disbursement targeting a front credit book X presentation, now back are basis X. which on the our net on charge-off we the basis QX, are that we versus their of charge-off charge-off net had to back after driven as lower by net within can up continued is improvement. and quarter earnings had range unit running a outperformed
of as Importantly, back and only end year-end to our continues XX% but for of book of XXXX, X% was charge-offs. it loan gross decline, portfolio, the
we of XXXX. As our the diminish expect to X% mentioned, book portfolio end Raul to of the back at further
see as since 'XX XQ in our on 'XX. net year, Finally, to rate compared XX our points last you can Slide improved XX.X% rate charge-off and XQ was basis of XX, lowest
feel summary, in to continue credit quality very good of So originating. about we the are we
who verify actively employment loan As we communities. An a identify Slide model, median existing fourth-quarter strong for approving the in originations our with of people for by which to to also had approximately underwriting income a to their XX, our confident driven hardworking $XX,XXX. credit on Prior outcome stability new in borrowers, shown a I'm stability borrower, all of members. gross or seeks
the a of current their their at had current accounts, rather Moreover, bank borrowers to years check. their members average XX% X.X loan at job, and our of than years disbursement had dispersed receive in to Additionally, their of opting X.X our residence. proceeds approved U.S. an form
and our by shown to quarter-over-quarter. Regarding on we liquidity, X.Xx Slide ratio deleveraged reducing as XX, X.Xx, debt-to-equity from our capital
debt cash our we $XX were to GAAP outstanding reduce million. As operating profitable million of $XX of flow and by the part utilized
of unrestricted is million XX, in December million, capacity $XXX restricted. was lines million $XXX remaining under which of million. available sale loan cash is As capacity $XXX whole and liquidity of Further million and funding bolstering our our warehouse agreement was $XX total $XX
warehouse weighted up fourth $XXX was over in than XXX lower Xx XXXX the at significant a and being for we freed yield, quarter in success, transaction capacity million ABS basis previous transaction. which January, originations. Following our future August in X.XX% issued pricing a over-subscribed The notes, $XXX million points average
agreements including ABS $X.X capital diversified market financings, banks. from loan whole has more deals. and fixed-income Our We a markets June this access is times to we sales, XXXX, few securitizations Since year well-established. investors of with anticipate warehouse come raised Oportun billion in approximately to will and
as shown to XX. now our Slide Turning guidance, on
reflects million, outlook the charge-off rate Our to EBITDA points, net for basis million plus of million total QX revenue card quarter. adjusted we $XX year-over-year guidance quarter largely $XXX due absence revenue, credit minus million $XXX year is our of portfolio a XX.X%, X% basis, of in annualized to the first $XX On prior a or to decline $XX the XX of generated from in revenue million. of the total
an credit on card XQ midpoint and million balance.
Despite decline decline the an XQ our our X% year-over-year Excluding X% $X the $XX over management EBITDA 'XX's in and only expense revenue at guidance is focus of basis average decline, guidance the revenue, million $XX continued reflects XQ operating daily million. 'XX an our a highlights approximately organic improvement on portfolio adjusted
rate 'XX's increase expect about of points our by to annualized We the XQ XX net year-over-year. guidance at basis midpoint charge-off
However, XX, the XQ than flat 'XX XX.X%. year-over-year net see of X%, annualized expect charge-offs average charge-off rate as 'XX would rather would daily And XQ basis XX dollar balance net 'XX's on lower be range. you the portfolio by the points we bottom can at if X% decline Slide remain approximately in XQ decline to
net We rate to be XQ elevated temporary. charge-off the expect 'XX in
see QX a full-year charge-offs annualized the we QX will net you XX.X%. you charge-off As net guidance with will from that through expect share be for for the average rate to I moment, in
to revenue, to our modest last basis and of $XXX annualized to million, of Despite $XXX credit full our anticipated reflects million the absence $XXX $X.XX XX adjusted excluding plus card of rate $XX in to adjusted of end year full-year card. $XX million revenue income net EPS for XX.X%, net million million guidance minus charge-off the in is adjusted EBITDA credit growth million $XX total million, points, guidance $XXX average of top or balance X% million, decline revenue, and year's principal Our $XXX revenue $X.XX. total over daily of
we range. full-year improvement QX. originations target from mentioned, point quarterly XXXX's XX% anticipate The and charge-off reported XX% we annualized Raul guidance basis on full-year at XX.X% year-end, XX net level to implies to grow in As ongoing reflects and our midpoint prior rate expect XX% our reduction a returning to to XXXX revenue growth a XXXX following basis of
of the rather Slide we be with daily anticipated, dollars be XXXX can than you XXXX would to net even rate XX to range.
Furthermore, charge-offs range. As flat lower X%, expect in see decline from declining full-year the X% X% bottom points to target XXXX our charge-off XX% approximately the basis closer XX, in XX.X%, net were average by to as principal at balance
range, with of the XXXX of and uplift adjusted year-over-year our Our expectations at that full XX% implies the first full-year and EPS X% expected range a to pleased XXXX respectively. operating EPS midpoints the X% EBITDA the decline XX% from strong we adjusted midpoint in year the preliminary growth provided October is at in year. expectations expenses I'm last adjusted
to targets. you I'd progress towards update Next, our long-term economic on our like unit
targets we've a year reductions, was I'll improvement. rate.
It's adjusted While percentage progress charge-offs. over are using that QX. our and a metric XX improvement was was Increase they Slide which items ROE in net XXXX's provide be our XX% clear yield principally point Full a X%, comparison Adjusted lower by XXXX. driven year percentage targets, cost was better adjusted XX point nonrecurring actuals loan full ROE year-over-year long-term because made run XX for sense and remove future on significant of GAAP higher
the owned our we reducing to will leverage expenses shareholder on ROE to this of back range it's continue in principal improving to to as credit reducing improvement objective the Although reached we're attain basis.
Slide XX%, drive balance performance, XX XX% that you. quarter how annual at our level to focus an on XX% pleased fourth in adjusted a we and shows percentage returns.
Raul, over
