Earnings call transcript Q4 2022

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Operator

Good afternoon and welcome to OppFi’s Fourth Quarter 2022 Earnings Conference Call. All participants are in a listen-only mode.

As a reminder, this conference call is being recorded. [Operator Instructions] And it is now my pleasure to introduce your host, Shaun Smolarz, Head of Investor Relations. Thank you, sir.

begin. may You

Shaun Smolarz

Good Chief operator. Johnson, today’s are call Financial Thank Officer afternoon. and Schwartz, Executive Pam Executive Todd Officer. you, On Chairman, Chief and

be release Our supplemental earnings quarter investors.oppfi.com. press fourth presentation XXXX can found at and

actual to expected forward-looking factors and undertakes During as statements developments appropriate. These to decisions materially update this a Exchange trends, OppFi events with assessment be assessments by and of are this or light from they in whether new conditions, and differ forward-looking are OppFi’s the assumptions described historical information. and management as Securities forward-looking statements of filings discuss such future Commission, on of cause forward-looking call, other information, entitled made will company’s are future made call statement, OppFi including factors believe to in of sections developments results, duty certain result Factors. the and Important based and their the or business revise no today otherwise. statements Any current experience during any could made Risk that

website. and In non-GAAP be comparable financial release measures of by reconciliation metrics. the certain will replay these this afternoon. the earlier our today’s issued being discuss be non-GAAP live A available management, is the company most found can webcast GAAP remarks press measures to in financial will earnings on call This for

turn the like over to would I Todd now call to Schwartz.

Todd Schwartz

everyone. Shaun and Thanks, good afternoon

continues stabilize begin excited and and business strengthen. XXXX, to to we our believe We’re

as our company. immediately I leadership CEO roles throughout took enhance the to ago talent OppFi, year key as and As of returned in founder team as well steps a

ways, with was a While challenging focus, XXXX improvement. on in in and the we macro persevered many relentless emphasis resiliency, environment

receivables a including inflation, As revenue, ending delivered and originations, peak headwinds, in result, despite significant the we for full record economic net XX-year total a year.

XXXX. exceeding of achieved for profitability eighth consecutive our we guidance result, a year our profitability, As

time, these we distinctive our the XXXX cycles. platform at embedding they processes challenging provide learnings advantage. a to into ability from profitable going enhance learnings stable, as operating embraced Although, that the across economic competitive our believe deliver a We forward

of We remaining environment. control originations with are and the history, can of growth, give macroeconomic the balancing experiences The our continuation optimistic XXXX, confidence coupled uncertain that XXXX, risk, XX-year mindful by an of our while business about overall expenses. us success we

Pam year will and as full quarter fourth review our QX well results and guidance XXXX. in full as for year detail, discuss

from QX Before strategy. business XXXX date will for four, our she does, I topics. and outlook year update our long-term strategic and on trends; and financial our performance; full cover two, XXXX; to some highlights an quarter initiatives One, four macroeconomic three, growth business

quarter reductions. beat enabled results top full of were to leverage guidance our year and fourth end driven us credit Our This through expense performance adjusted by operational for the net income.

$X.X for in in compared $XXX million, year growth highlights XX% net $X of previous full million to ending $XXX to the key total the The XX% XX% million, and million, net net of included originations in to adjusted income growth to $XXX revenue income million. receivables year growth

in one-times. marketing our excluding and improved revenue, interest demonstrated and total in percentage per new cost decrease of successfully cost add-backs, efficiencies also XX% the funded by We in XX% XXXX a as marketing improvement expense, a expenses and operating loan as operating

different and operating more for NPS, We XX XXXX. environments, our an that macro addition, platform value when and there in of and net maintaining demonstrates NPS score promoter was are score, even quality OppFi’s XX believe In challenging so, or elevated plus the charge-offs conditions.

to revenue adjusted $XXX by million loss net was million. over year XX% year a increased total On and $X.X summary. loss was quarter fourth our Net to million. Turning basis, $X.X

cost marketing fourth add-backs, and the in decrease expense, total in in loan and interest new operating excluding per expenses one-times. Our improved continued of a XX% trends revenue, as efficiency with percentage funded quarter improvement a XX% a

the One already stable The funding of growth to OppFi challenging in the of attract highlights helped conditions. $XXX our million was facility addition has credit of can fourth to other Castlelake fuel sources demonstrates funding quarter even the existing of profitable continue market and with that Castlelake. closing in

We’re continuing excited with forward partner to to and grow have a look new financial to them.

year, for we The history. like In on leading to models well significant which adjustments net the to default level we for XXXX. updates performance indicator quarter, strategic to is that fourth financial in provide the core performance. think progress in initiatives improve, a our the company’s metric charge-off first the expect Now, vintage rate made bodes credit some to later were Last rate. our of the XXXX continued drive payment I’d generally most

fourth down closer for were quarter, from the the payment default pre-pandemic move having customers been XX% In new second to levels, first rate to quarter before adjustments continued made. credit the

the decreased and quarter, have loans, improve was from so quarter, the confidence the end began quarter. refinanced total first better performing refinanced and on non-performing cycle experienced portfolio later from rate XX% and rates with X% the default loans the larger rate payment this mix first further For in us far quarter. out. fourth the a the These of improve. portfolio The the that down the past-due loans the second across In improvement charge-off older rate new delinquency year existing of net provide we to customers improvements comprise will third as

year, partners our channels, more underwriting models, enhancing optimization, email mail for remains differentiation. well continuous and initiatives and platform. search improvement manage efficient. by to utilizing credit This platform engine sources, and additional as and Focus new Key making as the data marketing also enhance technology, are attributes risk to on and direct exploring include improving compelling on focused we specifically the accuracy very

working we experienced in that year. towards our last upon XX% We’re also increase building referrals

to same-day portal. funding From in collaboration our as to enhancements such are to continuing a as product partners payment perspective, bank features and customers with self-service communicate we our well as introduce new

collection to values-based be to accretive our rate. increased yielding strategy payments renewed lowering continues and our business, net charge-off Our

year. year balances over Additionally, previously by grew recoveries of charged-off XX% loan

to area our We was outpaced we realizing earnings year initiatives. leverage this from efficiencies on This contribute strong an to this operational technology year. remain operating expense substantially focused growth a expenses. expense more expect revenue by XXXX year, perspective and as rebound on further focusing

macroeconomic the I’d a to business for couple current quarter. spend our current minutes now like of discussing as trends as some well first view

that will will adjusted in to I year low trends, that and XXXX With encouraged the net helpful are strong our income. significant consumers, be second full say prices adjustments set We’re be are as inflation and middle are to class credit we X.X%. to for These us Pam however, trends of before a expect used continues quarter-to-date recent we be loan indicating full which QX some addressable economic guidance; we employment for partially remains by profitability The impacted overall year by year is skewed unemployment encouraged detail our such up as by rebound that that QX were categories decelerating year the which said, think market for made. last nicely vehicles, as is reports will vintages falling. half market. at rate the our from

provide back growth. update take to on growth a to accelerate long-term our an strategy and step Now, like I’d profitable

focus to drive are diversify expand way our In our corporate our is product to this serve more the best us and plans volume to In addition core for business. we consumers, expanding our partnerships development. on view, to the growth

create choice, believe access core innovation. the During and with OppFi attributes scale platforms of bringing product or across and We equity umbrella, adjacent assets would in manner OppFi core transparency, and under value, competencies. experience has customer strategically same platforms We incremental technological leading these a generated or think our leverages attributes, we customer have could value set by driven or diversification XX-year a synergy history, credit significant significant and market in assets our that such brand by categories. drive

For is in investors, among earnings sustainable is industry. the term consistently deliver our long share highest our that goal growth per to

this We the path we are achieving that on confident to are vision. right

during want positive that and my and Before are in reiterate improved to Pam, strong With and over open optimistic open I outlook continue purchased demand price windows the intend does reflect not the fourth we long-term the open about purchasing business, I it origination OppFi’s family credit performance. the in quarter given to XXXX, shares trading trading our shares its window. value. We in market intrinsic turn I when market continued confidence to the we believe

turn With to Pam. that, I call will the over

Pam Johnson

Thanks afternoon everyone. Todd and good

have our profitability to of net consecutive originations, achieved eighth We receivables. very and revenue, year ending pleased total with are record

one-time and we revenue, and percentage all guidance third In full expenses revenue, excluding that operating quarter metrics earnings total a release: XXXX reiterated our total year profitability. adjusted of we expense, exceeded interest our add-backs as addition, in of items;

share originations were in For receivables per was revenue $XX XX% net $X.XX. million. of $X XX% driving Total to ending to increase XXXX, XX% adjusted million, adjusted EBITDA increased income a while million. to net $XXX $XXX year in was resulting million, earnings Adjusted $XXX over million, year up

credit third XX.X% of same fourth adjustments ago the was $XXX the in despite quarter. originations increased total the period. million, quarter, For made reflects net revenue the million, $XXX to This which as our year the

adjustments due by From over new quarter a the in implemented for refinanced to existing perspective, for originations third in to XX%. while customer On basis, the in originations were by quarter, mix loan an decreased of originations the approximately customer credit absolute XX% customers part increased year fourth loans. existing quarter, year the loan XX%

this for our pleased marketing XXX% with adjusted mail that We well accomplished as year direct upmarket the moving initiatives, lowest as increased our with over criteria with We tier risk campaign. originations strategic marketing key year. are digital by including new partners, filter very credit

quarter XX% net Our the to prior receivables average as rate compared of percentage the year annualized XXXX, quarter. for of fourth for XX.X% was charge-off

annualized percentage was net rate of a to revenue, As year. XX.X%, the XX.X% charge-off last compared

and year. results at early and with performance believe improving Given steadily charge-off peaked will delinquency rate net rate portfolio the in that quarter quarter we to improve the levels, our the vintage this fourth first begin the

or to add-backs, quarter, compared revenue, cost net to revenues higher XX.X% for direct totaled $XX.X The by lower of million $XX.X and and compared excluding funded for interest through offset lower XXXX. quarter, over or operating lower one-time than to to increased the in of year fourth $XX.X Turning fourth by revenue primarily total the the driven expenses million were quarter due per and totaled increased fourth loan Adjusted as for headcount of expenses items, quarter, reduction. decrease charge-offs. million expense, EBITDA expenses, relatively the was million year efficiencies XX.X% more prior $X.X spend marketing year

rates utilized interest $X.X same the year period Interest in our quarter million a to our year. facilities compared fourth expense was loss performance. fund was adjusted of to ago. smaller due to or increase for million total higher million year revenue, originations period or than anticipated loss for fourth total by revenue the year of on over the growth. of $XX.X $XX.X full for totaled X.X% the $X.X The compared was the credit X.X% million income net credit quarter, last to Adjusted to due net guidance year comparable This

For share. diluted share same counts OppFi an the December in average was for ended Since quarter exclude net Adjusted diluted three resulted the both fourth weighted shares $X.XX adjusted were XXXX, period the the per million they had and XX.X months loss, as this dilutive XX, securities. loss outstanding. basic

in the reminder, are our a from inclusion a stock shares Up-C our A be diluted result because period that of shares would of B into common the OppFi Class are as common a structure anti-dilutive. stock loss calculation of in excluded which reports As Class any shares exchangeable

in remains capacity million and $XXX.X million, our to of million, have debt equity gross cash future cash, $XX.X We receivables million, ample $XXX.X balance available $XXX.X liquidity believe cash funding as support $XXX.X of and plans with at end million of restricted with Our of the healthy XXXX. end. quarter total sheet growth of equivalents, of we total

quarter, repurchase During under the OppFi did share have fourth its any activity not authorization.

repurchased company of per the million $X.XX XXX,XXX shares average an year, the approximately at price share. For for $X.X

our Turning now outlook. to

over of XX% are $XXX to providing million, we XX% which total for year implies XXXX, year year. to full growth $XXX of revenue guidance For million

between $XX an on Based $X.XX. weighted expect $X.XX $XX income We count and share million diluted XX.X million, adjusted adjusted be to average earnings of diluted million. would per net of anticipated share

managed to For the growth an quarter, risk. and business to Quarter approximately on of the we be basis. we tighter expect to have breakeven balance adjusted date, first

elevated. the addition, growth The charge-off rate at approach from fourth performing year. rate the In remains the improve the dynamic out remaining quarter, our sequentially to net loans of beginning of expect charge-off our poor cycling due to to portfolio while we the and net of conservative elevated

quarterly to our to made return tiers. of customer based to the on us expect we payment a default as continues the last The year is shifting charge-off lowest during progresses. total delinquency the first with quarter, decrease profitability strengthen second a the portfolio in Beginning and adjustments the as rate provide will acceleration that rate to remainder improvements year gradual mix risk in rate the that year and net credit confidence

With operator turn that, like over to we now call the the would Operator? Q&A. for to

Operator

And first [Operator line Securities. with the of Instructions] Mike with you. proceed Grondahl comes the Thank from Please your question question. Northland

Mike Grondahl

Hey, thanks, guys.

charge-offs first The just you you attributes or what’s seeing the then about you secondly, And that question, seeing yield that that seeing? you’re there? just you’re are in peaked the that comfort any talk could compression two environment XQ? one And some main gives

Todd Schwartz

good question. Yes,

you specific. be to you Just though, clarify, can yield compression, more when say

your So I question answer correctly.

Mike Grondahl

saying in yields I’m that’s all? market? compressing And the don’t what you asking. had what are I I are I’m the those but those I Yes, they I or at have know just that to offering guess, you’re are, mean, mean, lower

Todd Schwartz

Yes, pricing.

is So some There answer the no. is favorability there. been

that’s Then team also right think we above and going areas. is new are go partners, going in the macroeconomic had we’ve country, to of highest able situation us. now, that those low-risk pockets our on to on been I significant able we funneling, seen. exacerbate after bank seeing find we’ve the obviously, But of banks it. the percentage be are due on mentioned growth our behalf that’s with Part currently, originating and the going Pam still to we’re marketing this where that in this customers tightening of to

So both. of a a attribution it’s bit it’s a little little – it, it’s of

Mike Grondahl

seeing, attributes you charge-offs And believe Got make it. peaked. two you’re or net the then I guess, one that have

Todd Schwartz

we improvement. at would of We last after for But spike listen, look our lend of way our QX. environment in usually in they kind that when the think the it’s Well, think customers, last spike customers, months things probably X middle-income swaths in which when customers we behaviors. the it in peaked for is for usually kind specifically, of said is we the – I times we in high particular, year, and many to, our see charge-offs. we’ve originated, significant have their I Customers are there painful the consumers, loans inflation is year, seen different changed is peaked macroeconomic customer. in uncertainty a it most

of been We’re that, adjust is, pretty to to able environment. had have shock and customers. So sure of things high and changed, to right? But FPD it. price adapt say their in when rate. the beneficial total They now very our improvement our DQ other unemployment what’s And in they were I’ll lifestyles. for been done thing happened able see people has the Also, and kind people we’ve been significant to remaining unemployment, have is low rates

up. so is And surprised with are to tick unemployment kind then stayed we forecasted customers low. think been Our I has that employed. how gainfully something that And of has everyone

Mike Grondahl

maybe one I into sounds your more. and of historically, ask a thought I’ll little leaning it was just off, strategy collection pretty Got bit. it. collections hands you’re like But And kind

this were You year? associated XX% up strategy two, last the One, were describe something recoveries about you like, said dollar year XX% just and what’s kind could up amount that recoveries being what collection year-over-year. with of and

Todd Schwartz

we’re I Yes, you. for to it’s the you will. pull for But talking, I say you going I’m number but while can that. interesting pull

collector has an debt. been OppFi So of never aggressive

sure portal, settlement it to with debit and loans, aggressive. going that. people’s seeing we’re our a We options to product do and mean thoughts we that we pickup, always settlement for been give continued integrations collecting self-service never abilities for we to pay, we to are strategy but we’ve payment customers that dignity that offers treat customers like treat a make be where for make we’re respect, – doesn’t card on offers, And right? a And But and that we’re of recovery easier and and is portal, sure and more so features where making the follow-ups on humanistic, around people successful. lot have and they pay value-based how really that, prudent to with do customers a our

Mike Grondahl

Got Thank it. you.

Todd Schwartz

And pulled numbers. Pam the has

had you Go a increase. the question on think I ahead.

Pam Johnson

had about XXXX, in we $XX $XX we million Sure. Mike, had and million over in in recoveries XXXX.

Mike Grondahl

it. Got

Okay. Great. Thank you.

Operator

Our Instructions] with [Operator of David Securities. the with next question line comes from JMP proceed Scharf question. your Please

David Scharf

of on. on the wanted questions. given I the One how mid-year, touch somewhat tightening was Late of Hi, from had should of afternoon. I for on directionally neobanks of that us Thanks stimulus. if be you you you as related. end and normalized to based my is some of frame depressed and run off. on ending Obviously, XXXX guidance rate? with what Can more those to normalized sources. losses, vintages a we credit the good expected last is obviously is think elevated few ‘XX for taking this year, But think good got Where pace year give we a XXXX we based should how color a a sense loss originated level? those other were

Todd Schwartz

the target good I’ll Yes. question of question. the of [indiscernible]. a take It’s And first

operates So that mid-XXs – very been and achieved percentage mid revenue, historically, we’ve now. efficiently around to has years OppFi where of where been had XX We’ve historically the has business it.

is this spiked normalized obviously but down to our that that get a the in into think environment. goal back year, I mid-XXs

but bit are if through seeing as on progress the significant on we quarter. going like feel and early year, front a still they good. really, this really the things we we’re to in that way first with think continued our feel But are that little I as indicators. far some optimistic flowing what have looking make still we’re of dealing we’re Obviously,

David Scharf

sort to and more product also of with strategic and the And adjacencies. share to Todd, lot your wanted given guess, Even products about, often I’ll customer. made you have in serve Got were a – mostly. been rewarded play very different ways Can the specifically, about, is initiatives I moment. the corporate that asset dig focused is equity out now, you it. expanding markets of activities kind a their just to existing thought consumer under is just the to into Understood. you expanding very talking to Historically, if front little branched what the about of, I market reference some opposed just devil’s been business, talk you development haven’t as sticking for to the advocate lenders very there just a our guise process often of knitting opportunity the in maybe lending strategy your product? just core on core has well-founded, where of staying

Todd Schwartz

Yes.

So coming, drive our gives up brand away income also, and our is which growth get feel premature profitable and addressable the there years this – growth our value. core just diversification we revenue not be are core could little do I there is that. And is actually – and Whereas, definitely overvalued maybe sizable with growth really core that the There our consumer real was we’ve everything there but there, and future we that business, was to of clear, feel there to to out the matched no us business. And in long-term be lot we active. a profit is markets, is – focused acquisitions more two in opportunity in that we be comfort the are though, new now. we with and skillset, do accretive think some equity But is that is story. from going think like look only starting pretty there it’s future, and a so people environment ago, can to the net for was with our business we there verticals business to that ability like current find and That like identified environment, in it’s can and specific no really like vision business our a focus. think help our streams. as value

the last do That – high-risk focused And so going clear. really going I’ll – We the stabilized. year really in we’re on continue this seeing some listen, starting to it priority customers, dislocation all make the what We and that yes, And this that’s to getting focused that. is year, balance But I business we’re coming is that to economy think today. sheet. there targeting those and opportunity say be was on we on to some to that. with we’re of

David Scharf

comment environment, last lastly, remiss news relative stability Okay. maybe And deposits just weeks, Anything today’s bank and No, if kind otherwise, didn’t particularly just of understood. be ask, couple I your of there? the of partners, in flow in the leading particularly your the then guess you partner. I can

Pam Johnson

I’ll Yes, David. one, that take

We’re from Signature. not or exposed Valley losses Silicon Bank to any

and We really have players. with strong good concentrated banks very strong some strong have with relationships really and banking our deposits relationships our those two

David Scharf

banks Got I ask. and really FinWise I with aware that the guess I it. originator, to wanted actually relative anything at just also, of is partner anything, have I’m been is it. Got lender all? they just the and the the what you referring but Pam, be of there whether impacted not actual to was And to – –

Todd Schwartz

regionals I we’re and going waiting regional the just move whole there. on it. feel It’s a what’s the yes, this of feel I deposits have the prevent and think by happen crystal in about ball in the don’t environment. – a guaranteeing from and how to to that I I do that’s overall run Fed to the don’t right Yes, FDIC seeing standpoint, was – banks I all small

exposure no knowledge. all SVB no have partners partners and we’ve we our checked And with in and Signature. bank or to our all have However,

David Scharf

Thank Great. you very much. it. Got

Operator

our with question proceed question. with line of Please from [Operator your And comes the Brendler Chris Davidson. next Instructions] D.A.

Chris Brendler

afternoon, Good guys. Thanks. Hi.

confidence? difficult that’s the about. us if just color, a the picture, Just you’re your because given charge-offs delinquency first give you wanted back-book back-back the into great? a on maybe the it possible, wondering to the a marks of Thanks. is that’s don’t elevated on was trends the get color little see therefore and would that like, just some from because fourth Anymore slides – trends – accounting fair sounds value why, off. more more little from bit And things the in more the Can given quarter be the the talking better drill in little there value to you credit fair quarter, it’s causing

Todd Schwartz

Yes.

Specifically, we’re the we confidence one indicators. in gross early future looking and similarly of charge-offs. at largest our of July, used operating the Like, profitability of adjustments from forecast years lot when the we a in of to level – in made have that kind XX history credit our company early indicators. and early And determine history, we indicators of

year indicators the there early Obviously, little economy. we – feel out is right very now level the the to a our adjustments do the is environment on. volatility confidence improve, and a ones. really were realize deployed, our we’ve as So credit continue good But made we favorable. the that is now, fully in and And tested refine right and goes there of little growing are into, that

Chris Brendler

loan dramatically front to it demand in the what But you offset guys they changed the that’s be was I from the growth basis balance outlook? how That’s where came do business, I handle. perspective, sort very competition also low. good was should assume OppFi does first on those strange And origination spot front, But credit of more on given just just that great. XX a I think helpful. can the months. Okay, competitive feels probably the the last of when you a from a like what’s it volume of the look ask And into net as mean a environment public, Thanks. two? you’re happening you like artificially wanted on ‘XX, macroenvironment end

Todd Schwartz

is That’s we’re no And we that. into not mane, low means, have tested not you sets, is though, risk we’ve can accurate. loosening What that attribute customers by predictive credit. – we found, pretty certain. are look make and I looking Yes. with

that’s players though, see is one side, couple the is sheet growth up On not less more are of any dealing issues then competition. mention as a showing well. frequently I gone And with regional players some There we as public been some there private. names, won’t balance been player, non-public, and maybe that

really we’re we a So feel strong like position. in

but We are our also, credit that percentage times, couple seeing the customers and we’ve And we bands, our the leader in of mentioned feel in space, seen low-risk I confident. largest this of historically. really

Chris Brendler

as Obviously, you have And is that it hope disclosed any of confidence not to pretty you, Castlelake And of I credit speaks around the in the macroenvironment. more to deal? one how I transaction just impressive Okay. you would that in this be a new Sort they facility performance, terms to close color came great only your in but was December, pricing? have hear.

Todd Schwartz

on all based with and we’re watching closely. same. Yes, that’s far the it’s it’s exact facilities flexibility, facility. on the real, are rate But the go, terms it’s floating LTV same terms as our other off substantially as But and Obviously, as interest SOFR. increases rate terms something

Chris Brendler

Great. Thanks, Todd.

Operator

answer your queue. in webcast. questions the the further questions will no And submitted are via There now, management

Shaun Smolarz

the in quarter? fourth program was share repurchase corporate not the utilized Why

Todd Schwartz

I’d personally all, purchased there set, of shares, for higher shares. saying, to ability all, strong and getting at some first when a find of profitable first personally is purchased by very and I foremost. feel credits level family our just – on confidence right is you’re start my the really mean, our growth of and like now the looking I Yes, Okay. to – opportunity first But is we transactions

and unrestricted a to feel we of to spaces position cash sheet it, out balance and a that this cash definitely want though, now being this see start right now we’ve and is environment. there coming – before about. balance feel cards sheet strong who couple is allocate capital. in see thoughtful of balance want a some out have we something think – strong strong where sheet, and we really us is then that about I around right said with issues. think forget we where that competition really more good in some through just having a worked And I I come this, with investing prioritized And And position very cash strategic really but and we’ve king

purchase the intrinsic here. So its not not to to going think company up the it’s value. coming from is is say that stock disconnected We price still long-term

family And purchasing. so the personally, is

the the to time going wait Just we’re we company for decided, being.

Operator

to there from webcast, the no pass back any as to I’d questions remarks. for like And are more closing it management

Todd Schwartz

joining I to for us everyone want thank today.

forward again the May. updating you by credit everyone. mix XXXX to to on in higher with report improved our excited look progress a and our results Thanks, We’re QX And expect lowest origination start of to our credit performance then. We we to tiers. risk

Operator

This conference. concludes today’s

You your lines you this participation for time. great and a your have may disconnect day. Thank at

OppFi (OPFI) 23 Mar 232022 Q4 Earnings call transcript