OPFI - Earnings call transcript Q4 2021

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Operator

Good afternoon. On today's call are Todd Schwartz, OppFi's Executive Chairman and Chief Executive Officer; and Shiven Shah, Chief Financial Officer. The company's fourth quarter and full year 2021 earnings press release and supplemental presentation can be found at investors.oppfi.com.

During the call, the company will discuss certain forward-looking information. These forward-looking statements are based on assumptions and assessments made by OppFi's management in light of their experience and assessment of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. a during undertakes are or no such whether made today as revise statements information, statements, OppFi new and duty as forward-looking this or made call of any future Any events of otherwise. result to update could the that developments results, section Risk SEC, materially including actual to in the and are Factors. forward-looking the statements cause described decisions company's differ factors Important business from filings with entitled financial remarks by company metrics. management, non-GAAP today's In will the discuss measures to be financial most reconciliation comparable afternoon's can non-GAAP A of measures the found earnings GAAP these press this in release. live This call is will for being on webcast replay month for our website. and X available be turn would like to to over the I Todd. now call

Todd Schwartz

good Thank afternoon, everyone. you, and

of to I dynamic say next of in this how phase want its as company am First, CEO and OppFi growth. excited lead and I proud to return

of with OppFi and goal consumers mainstream our credit unforeseen inclusion As financial credit. access I XX millions passionate extremely expenses a are better millions to compelling know, options locked some ago, a remain of build I in simple to Today, out clear, in of path. provide help this with help gain did who XXXX, I years mission founded you to is mission confident for about people as future. and financial help to I'm The as

to our achieve on share to lead of on to are the As return to we believe continue investment which I will expand our capital will best that detail market potential and the profitable initiatives represent year, us few our yield continue industry. allocation pursuing we the core are to and unlock highest further focusing business, minutes, in we the next growth. believe position this Therefore, we consistent

potential announced largest we utilize OppFi's to recently is As OppFi's believe this Chairman, $XX share price of is repurchase authorization intend long-term of Board CEO underscore to long-term million when the Directors disconnected we from that that end, share maximizing stockholder company. committed and we the our To corporate the shareholder, I value. to and value want OppFi's Executive

In addition, see and further the are family strong been a the believers we market. when disconnect potential are to I have invest and in my in and stock of such long-term the support OppFi prepared and

XXXX. like Now, for topics call to speak Number to over would two, to our the macro go I I XXXX; on one, for discuss business turn number enhancements record X outlook CFO, before some over our specific our reflections installment about product the key XXXX; offer three, for the Shiven. loans

and pleased profitability our results We XXXX. are very in strong record with

have business the on to continue a core increased strong We profitable with consumer and of recovery spending. demand the robust economic heels

We generated line adjusted we of million million balance the expectation. a future with higher fund funding net capacity of strong and to end $XX ended the of year, $XXX the of our income, million with unused guidance year million total million growth. of with capacity sheet revenue, $XXX $XX with cash, and consistent $XXX For in of debt

pre-pandemic macro levels. accelerating in we high credits, end federal from our child for tax spending, increased normalizing the The with consumer demand trends seeing credit customer. anticipated, we are As financing spending including shift the and of to programs, consumer are stimulus a inflation environment decades

fourth more market year. for of quarter employee demand This volumes originations record the consecutive resulting strong addition, In record the labor creating quarter, drove of second is the the qualified normalization in borrowers. in

with the and establishes beyond. baseline record We in year a which also ended strong grow we which for XXXX receivables,

expected in seasonality demand same is of to seen the generated demand have from this returning time, better originations. trend XX% trends. far XXXX. levels. historical January acceleration we it's continue In than thus pre-pandemic in a we and increase is February While early, combined, year-over-year This At

to that ensure are that we we result, our us model our to which we credit customers risk-return XXXX, next-generation enhancements all criteria. believe target on we a while return also credit more our prospective performance product and enable customers of we out growth second we credit achieving have operational that in a new Recently, As and several believe made will rerolled the our to proactively meaningful will XXXX. facilitate hurdles. meet managing target In expected impact profitability half

First, our offers. market-based

business X.Xx have We channels and promising traditional grow are credit price to our share expand offers credit volume historically introducing We testing risk. us points and amounts customers quarter and generate following in initiative market-based incorporates increases XXXX. all different enable versus We reducing the risk to that our loan saw lower profitably certain served, will we not reach with core market term our product. rate, fourth believe loans while of this

tech-enabled Second, automation. and efficiencies

than funded leverage are continue to proprietary These experience automated artificial human XXXX. only interaction. with and We to speed, This the platform approval our but intelligence technology loans doubled improves loan with systems in more enhances automate not customer the efficiency. of operational Percentage loans X process. also

expect drive We efficiency. continue trend in scale this XXXX, to should and operational which upward increased

credit Third, enhancements.

our customers in delinquency. credit earlier, to normalize in began resulted we effectively. allow model, us we QX, more model new early-stage that have recently in parameters introduced a which optimized our to When next-generation will As in implemented credit mentioned decline target underwriting qualified

I our our enhancements provide our by for we options. Net maximizing turn exemplified this further Shiven fourth well are safe, demand to our market we on initiatives key addition customers XX. rates work with focused growth. outlook acquiring are and user as as experience, year of increasing sustained on in we and resurgence customer highly are Score initiatives, by our In over we reliable conversion consumer as leverage we these To that, excited well summary, profitable proficiently. In of and the on customers I'll continue Promoter review commentary about excited by future unlocking facilitating gain full OppLoans industry-leading our XXXX, ability product believe our quarter call course, can credit results to core to more improving our end, serve confident to are the With Of we the to outlined, the as XXXX. to that as service share and XXXX as

Shiven Shah

Thanks, present our adjusted start, like XXXX that Todd, presented a To fair value like-for-like is to on view good afternoon, comparison. income statement I would and forma to everyone. pro note

You that accounting will recall the on fair for installment core value XXXX, method receivables. January to transitioned the X, its company

revenue XX% to now at business original million, Despite with increased combination Turning the adjusted to to EBITDA our macroeconomic testament $XXX announcement to through outlook $XXX X% while grew model $XX time line of adjusted year. of of income the a business challenging our varying in million, results. XXXX backdrop, million. our to XX% resiliency February This last a cycles. net in is year-over-year Adjusted economic increased our

end of to specifically, million, guidance of year high to year-over-year ending our fourth to addition, prior XXXX income earnings increase were $XXX In million the and XX% led driving increased receivables and a to million. Strong quarter More the and adjusted up financial from net record ranges XX% originations X% quarter in fourth up ending for XX% compared receivables. $XX the the revenues were of full performance $XXX quarter. during

up for for on million the $XXX quarter XX% year-over-year XX% originations at to origination half XX% of mix an Our to accelerating new $XXX quarter's XXXX. new amortized year, basis, quarter, end was of up sequentially. versus basis the the compared extended and fourth of of the growth ending volumes, by the the XX% and compared absolute XX% which sequentially. to of were million cost perspective, fourth was originations Much end prior and totaled up that an up XX% a to from year loan up customer receivables September the increased XX% From XX more tied balance On quarter customers the were in than XXXX. quarter

Charge-offs expected net guidance the range XX% annualized third fourth with the continued in and midpoint charge-off fourth our ratio quarter for XXXX versus previous at of coming XXXX charge-off for of year XX% the prior to normalize as of net quarter to ratio Our for the was in quarter our XX% XX% XX%. the quarter.

the of channel aided as program as to upward in customer While partners, we credit segments. our the year. second new muted of extended of XXXX, on the later partners facilitation the Moreover, delinquencies, bank well in newer the impact and initially tax testing half behalf tested child trajectory credit

these second quarter. the longer fourth no quarter will of we the are facilitating by will losses trend the project quarter origination to And believe segments. first this loans We We dissipate charge-off XXXX. likely to similar trend

towards Looking levels pre-pandemic beginning second year net trend progresses. ahead, as we charge-off our and expect improvement the in therefore, quarter ratio in the

We have believe bodes we and January for seen rates. from trends February loss origination in well that future delinquency improvement

$XX items or for year-over-year million add totaled quarter, by revenue XXXX. $XX loan the Turning impact to fourth excluding and increase of million XX% interest prior XX% origination expense revenue and compared in growth XX% of more Operating to and the than for revenue as backs the of acquisition fourth marketing million quarter new $XX one-time year-over-year on quarter for expenses or XX% expenses. corresponding well of and was as expenses. the direct driven or primarily The

our review cost of which cost result implementing million are in incremental our time approximately a cost we realize base of operating basis, on annualized we to More of $XX as a over Following our technology after-tax platform. and only goal leverage unit-level more expect of continue we will costs broadly, an reduction a to detailed overhead we in reduce portion efficiency to structure, expect this higher fully with that year. initiatives driving a margins

of excluding the XXXX initiatives. improving and year with realize quarter a second percent half one-time we the interest of in expenses the add as revenues items from quarter of first efficiency as well our savings expenses, to remain XXXX as expect before backs line operating in fourth We as

expenses projecting million relatively as EBITDA be increased items revenue. versus and excluding by flat as For operating $XX as and of down charge-offs. quarter expenses than the the XX% backs expenses, prior XXXX, quarter, one-time totaled to we higher million to XX% $XX and million interest more year for revenues Adjusted add $XX were offset are sequentially well

expenses. continued reflecting through higher the fourth our adjusted net expected, EBITDA to As normalize rising and charge-offs quarter, margin volume-related

margin For the quarter, XX% for third came quarter XXXX. compared XX% XX% the at of to fourth in our quarter adjusted and the in EBITDA

the the we expect at in margins first ahead, expected half in XX% those to first elevated Looking with the due levels charge-off for the in levels come XXXX, to quarter to XX% roughly quarter. to of temporary remain range

expand efficiency. step-up We XXXX in that higher underwriting model additional XX% as Furthermore, our as and in quality in as beyond benefits year realization of as new realize the accelerating fourth we driven compared to previous progresses, the revenue quarter as well revenue the margin and growth will with confident total of cash funded margins originations by and are or X% versus last anticipate from profitability expense amortization excluding from Interest of Interest our of debt quarter flow debt. long-term we $X for target. totaled growth total as the expenses, expense million million operations receivables or year. $X increased X% we

a of and $XX for the We We net of $XX XXXX. to expect for expense fourth at prior million X% compared quarter for revenue quarter as to income remain interest the for million generated of quarter $XX XXXX. percentage adjusted million the fourth

December million XX, XX.X earnouts. of share quarter shares and Adjusted basic and million for $X.XX XX.X had OppFi excluding XXXX, for As was per outstanding, the total year. the earnings $X.XX fourth diluted

million. of remains Our of total million, sheet $XXX receivables $XXX equity of balance million healthy $XX and $XXX million, debt with sheet cash balance of

plans. Our Xx available with $XXX capacity net below liquidity debt-to-equity with million to growth ample ratio in coupled funding our support remains future well

our to outlook. now Turning

initiatives normalizing government As us and stimulus change Todd we to our cash earnings maximize adjusted factors and and said, by XX%, credit between XX% backs temporarily after designed allow the net the guidance recent XX%, impact minimize are cycle growth will between revenue X% In demand, changes is expenses, lowering XX% to one-time adjust revenue, Total adjusted These ending XX%. of in That ranges. XX%, influx these operating revenue XX% add being long for fair XX% and XXXX, as XXXX. net run. XX% credit adjusted and a gross discussed, programs. as from of income receivables the to following and EBITDA revenues risk returns the summary, in are more reflecting and charge-offs supported and revenue, excluding defined in to between margin introducing less net margin to expense, margin and of percentage items interest between value

anticipate We annualized are after and benefits XXXX. automation realizing initiatives executing process their currently and full efficiency

normalization in credit initiatives, In XXXX our addition, XXXX all a and achieve that we with believe our adjusted we results, of of would environment in line income conservative with growth. net steady-state assuming at realization origination efficiency least

operating and realize we continue income charge-off reaccelerating XXXX. be quarter income of the seasonality benefits related More the in half efficiency parameters, the impacted ramp net year origination the an through the following late adjusted underway throughout season net year Importantly, are expect first we initiatives up to of as tax tighter tactically, volumes refund vintages. and XXXX first will elevated will in that by to underwriting

lower loans expect with those quarter, driven second growth risk run we customer net performance. charge-offs in in off, As normalized credit by beginning segments lower higher the

we with anticipate the weakest adjusted year breakeven. the believe be to muted. the quarter our of As a approximately result, margin We quarter first net profitability income for be will

trajectory Looking we of growth and beyond, to the several and sustainability earnings of confident in XXXX our light tailwinds. remain in powerful

in related accelerating to growth expect XXXX. strong realization we revenue in First, originations

reflecting And improve, third, benefit from a initiatives of and normalized our a trends increasingly underwriting Second, full million believe year we macroeconomic operating continuing savings. which cost backdrop, after-tax more are we targeting hold. income anticipate will to efficiency we credit take as will from $XX our net benefit

is disruptions weather believe we positioned our addition, In multiyear balance lines ample with well capacity. committed and sheet to market

We and are borrowing increase strategies exploring our sheet increasingly efficient capital leverage focused that capacity. and are on more off-balance

initiative would turn call simultaneously borrow higher our would while to with increasing our loans we same lowering the expect amount generate economic to since generate growth. the We financial to of for With the capacity excited about risks very on we Q&A. and to returns over that, are operator the held Operator? sheet now like balance to similar this

Operator

[Operator Instructions].

Securities. Scharf David from comes question JMP First with

David Scharf

aboard welcome the earnings to first all guess, gone I anywhere but haven't necessarily years, call. anyway And these you Todd,

Todd Schwartz

Thank you.

David Scharf

one of then a question Maybe macro and kind follow-up.

seeing consumer credit As about wondering, we normalization factored credit side with we've eventual the seen side demand your at mean, so it among inflation? And any and I'm topic going of steep consumer forward, or since seen the lenders underwriting these and consumer of front it's of models been either in I changes obviously, center it for are in XX we've credit into performance, you incremental on think quarters the forth. since the on relates But the dissipation stimulus X been has are several all levels? and behavior to performance any those demand of emergence years as the obviously, because really decades now kind inflation

Todd Schwartz

XX you is is XXXX. It's the been think we and successful our to get off successful improve people way about rewarded the looks that And great get are and get payments financial And where the in to away our we're I I demand CEO, right? we of why getting to bureaus. that then We second that's pandemic, to optimized credit more people there we is are to can rewarded We this them the environment, But borrowers an The is model system. more their health. OppFi segment -- the where better credit, to Listen, optimize of some as answer to want NPS is normalized the better the perfect about with think certainty. and have the has things years getting the be Yes. are last from But I assure of year, -- through and credit, working burn half when that's with has be way our at a the well demand. report customers. a we like a our can federal over deemed able We're want we starting -- question the I high-risk back. time is it. look more there, going that of I'm we all product. demand customers we I'm going When think thinking through one changing. place last couple like also the And stay we're with stimulus, some to a target and which what credit.

to happen delinquency so we're allow is it it not the center of not going when and to going -- something bottom front growing. and going And to get is we're we're that and to to

always for it's top So, of us. mind

David Scharf

like understood I great because of my maybe consecutive quarters the follow-up, sort XXXX X a to those late segue commentary who you sure underperformance make volumes, which A related credit that's color origination targeted. FICO combined but some more And wanted or had Were seems relative correctly record maybe maybe was I these to of channel band? with vintages just little finance. to about what on

Todd Schwartz

a It's great question.

I'll So, straightforward. just be

through you But the we in end the I'll Obviously, changes the last year. in So, quarter. they were flow tell made this, seen have neobanks. an increase at first of

had a digital we coming and of -- percentage of in what we style are right? was neobanks using, right And we they for And some health. is fit what these we successful mixed combination going did of -- long So, in population, results. that really the customers that were are financial things. they customers that bank bank probably in that to into tested and and our are which to decided significant And frankly, of new the age channel the some customers be those through. weren't term some system, for us build not chime more

And into going demand due to segments. I think the growth revisit. leader, having since we're having the and we're to share forward, the it. we test gain market able ability right -- to so and now, the ceased to without we continue really riskier and increased may necessarily strong so to And But

Operator

Brendler Chris Davidson. with question, DA Next

Christopher Brendler

we you give delinquency credit the encouraging. more the get also little just want with color I terms you forum. quickly. looked public to real until Todd, we there? Can welcome don't Shiven a think mentioned, get of us trends aboard I start in delinquencies K. see I

Shiven Shah

elevated seen we've what normalization in first for in seen as we quarter forward but trends have growth back -- report coming into kind we've [Technical we of Todd vintages new quarter. our model, going on down. in the recently the stats underwriting beyond, fourth seen seen had credit of loss with -- and we the Difficulty]. we've conversion recent some banks We'll mentioned, based losses more those credit So, of and see to kind third, quarter, kind of QX, second What coming

Todd Schwartz

the early Yes. correlated highly in loans that, final are to the numbers. to to vintage add And trends

been we the XX history. have years. We've and for this most have so -- And we doing

pretty data robust. is our So,

where trend lines, identify we So, that's side quickly. -- forecasting is the pretty great about the thing can are on we working see when things

yes. So,

Christopher Brendler

A securitization sounds world The is Why short-term compelling. these what's and challenges? separate sheet the interesting having are not happening the of the in benefit you paper and of it health off-balance have just markets, question overall given too. the credit What days? the earlier done

Todd Schwartz

I of now bit that ties it's for was vision a to we back. installment our why want be little brand that suite credit. we into bit sub-XX% really, coming resonates and -- that I a we're our different a mean, originating ways we think a thought income. base across products. like provide our fee-based service there into is a And the approach can And There we belief And of have little at that ties a good and is are really and service me and all are of product. that servicing and customer the earning

customers. acquire We brand have an to incredible

We also and are positioning. product fit great at market

qualify not for the you start the we will, do sub-XX% also of space incredible sub-XX% an position if but where falling and it installment people are our there's, customers. for to we people -- think servicing-based in core turn-up and down more model who And service and then a so space provides in it's turndown fee for opportunity business. necessarily come of can that a I who the could kind the

our our loan keeping So, an story. it infrastructure, fits very installment it as with well as as and is far And favorable. tech really

Christopher Brendler

go exciting the looks think to one, good perspective? the Just of of liquidity like pretty the you've a why any part stock this I flow after advantage where a is, from buyback and It reason wouldn't cash sizable this got cash last that take release, most and buyback. that given you

Todd Schwartz

and -- defend plan. say I'm defend success plan Schwartz be SPAC peer I the defending profile it but came names, any specific There's have public brand we great share financial into. believe the is family, and going including like the we for And I'm been at from doing, not the are disconnected operationally the will reality. and to price. or really brand had team to myself, we've prepared that's work great -- great group that the we we've want We differentiate been prepared point credit to company mergers have -- that it. get don't the have. to the we've we're that feel the ourselves others the via Yes, grouped it's The our in and this aggressively

So, a service it's we're going I to be installment. and defending our think great

Operator

Seaport. Next question, Brian Lombardi with

Brian Lombardi

I'm are extrapolating, like a you I of had like I'm to missed back I of we we how sounds where welcome to the, are, but could grow management to when right side. I maybe but got get as over kind much. us? a intro, feel think bit long I maybe like wanted to management a I the and that skis think where you it I committing too part to with little at were, try guess, guess, say, maybe want I narrative be I of

game, you in that, to that stay? the investments and like on run wrong you're want get Like business, to a long this you're that? track. if will bad how skin And You've off back about got am I right you some going about rolling I'm

Todd Schwartz

Yes.

I like an terms the Capital. say simple Managing when safe, am doing helping and always ever. Schwartz been in to access than Principal about mission this First, I I'll tell people. that stay. by at you and this I'll I'm things, and move. of was other more And providing this, started driven I'm XXXX. passionate in here energized is indefinite I this It's

into and foremost, the under it a yesterday, of feel We office had temporary lines I everyone saw and way. and business about the the indefinitely. the we're back honest actually my incredibly me an and And couple in Chicago I with and with good supportive immediate unbelievable an excitement. first wife town family a in and It's here my was coming Board my team again had connecting have And really and that. the conversation business different I'm hall then today, situation. passion wasn't really and

Brian Lombardi

looking think as Okay. we like seemingly the I this long but like as don't in Thank situation hasn't I'm and off, troubling I -- was look, business as like recent a you. yet at guess challenged. the shape, near maybe a wheel business for future have looking come good I'm at past been -- we're as perhaps the this

the and because that of so confident okay, what's And off bad roll x? lesson newer in the inflation, as we're maybe areas into we those? that feel going some accelerating leaned this of to environment like kind or we reassurance some And like, we loans made

Todd Schwartz

that's normalized really that, new mean volume, I only volume of I does the very quickly trend --? and lines and I to a partners. also say we're can And Is happy the your that about direction is that identified the more obviously, we're facilitating was. -- question, we with It's see and originating it the answer it's but or what -- origination that no feel and environment. or back, the coming that good longer something on behalf bank

Brian Lombardi

-- in what saying stopped? ripple of it's the I'm past, but you're but past the they think like that the greater are so. a a type at I it's you answer, and were that it feel you've like was field near I than more causes I see business getting challenges is a segment relationship-based mean near of now

Todd Schwartz

the traditional right? tried And results, the by a partners also confident with By And it ran Yes. is access trade system. successful to mission is mission wanted provide access, to company. successful bureaus neobank the -- we clearly relationship we're and we of for Yes. align to not people a they capital. definition, provide choice, credit job If mean, I customer we right, the they're who a using people and not it in cost turned but people new probably try some our graduate that fit. The We test lower banks. is have was them our I'm all the positive right? or company's -- build be and right we we find fault model, didn't with too not our people, and down segmentation to to in customer company to we of -- very of allow had are by we our effectively, have are then channel high we our of be in then and to and payments some report and risk system set. And credit lines customers, mixed it's

So, we on. and determine that decided to move

Shiven Shah

Yes, underwriting after of the is discipline chasing going what not I and segments on really be kind in think we're that growth the profitable. in to focusing we're are not

and charge-off we're So, lifetime historical we're going really be line getting this looking ratio committed levels. at unit economics loss and to trends are the profile see to what on early-stage with delinquencies in to

Operator

with comes Your from Capital Grondahl Mike question Northland next Markets.

Unidentified Analyst

competitive on can This talk for maybe we mine as if looks the environment like like of Most salary Mike. bit a and the is on sit here? have of today just but been you cap Mike kind answered, products newer what little

Todd Schwartz

Yes.

still fit there's market mode. of products, newer in the mode and more So product test a

focused our think from I can huge to there's there an performance category there coming there's think allows what our with installment an be them a and go to the right? X a aligned a have and where ROI we're tech uncertainty customers as our that with installment relationship unbelievable their our and unbelievable proven and better Promoter loan, be investment and is doesn't heavy us on. our with pricing be compete Net bunch we we like market-based current ways that hey, by channels of and is the ROI. I to it And surround require We're financial core installment saying on in and services doing that better There's business, platform There's absolutely And a things better Score business riskier seeing partner can a the that done of the I'm can of lot products. consumer and we offer are like, think stuff standpoint take opportunity. going that in have marketing service about at and probability standpoint way And don't in a and product. risk these in this with -- investment that and goals and system customer this them customer a rates approach terms, direct I with sub-XX% mail. that can essentially

I think that. like we can looking at be

stuff installment-based small some on stuff. that we're considering, I business think interesting that's there's it's

I mean it So, current think more the there's our we'll be potential there's have there. But probability a ROI. think to we to can cap and And and product X there's base. continue more So, a if of these factors products, salary see is lot doing opportunity we're we has ROI installment lot going can the and I but card and test lot And look high have right? to with to I we like realization of success, high fits. with high, a too to have it came -- credit what installment

we probability the that's to actually the at but high end achieve of have say, tunnel the hey, it. is You that what ROI,

Unidentified Analyst

what on and just on XXXX, that? timing And at thoughts of kind as are investment of we spend size look like your maybe then high-level

Todd Schwartz

I just Is question. the --? understood sure want it to I make

Unidentified Analyst

spend. Investment

Shiven Shah

focus looked so on at of script and of a -- really efficiencies, timing my we So, our is cost offers we $XX we business. on portion in million which our to found mentioned identified then that we that that we will of lot to going we've spend, core cost found And efficiencies. reallocate structure market-based be about doing in terms investment a of what and we're the

So, product to to we're investments excess margins in calculated up year able driving core extrapolate returns. making through those our and committed the be to

Operator

Thank turn will you. now for remarks. over I closing the management floor to

Todd Schwartz

same us So got first back. the questions. to It's the thank for you I'm reconnect to that with going and are next are that of get to team. been all, principles here us those The great thank the excited. frontier. principles Listen, I'm you

I but I'm happen. of somebody I'm -- a value we're think that completely I on on right things. it's biased, improvements here focused a right making stock think credit. lot focused maximization the there's lot the now, There's We're that of and extreme is can at -- who operationally. We're value. obviously

to and excited back just I'm So, for journey. excited be the

to you, thank everybody, and more So come.

Operator

teleconference. today's concludes This

your time, for lines and this your disconnect you participation. may You thank at

OppFi (OPFI) 11 Mar 222021 Q4 Earnings call transcript