How did Enova International's revenue and expenses trend in Q4 2024?

Enova International Inc. (ENVA) experienced significant growth in revenue and various expense categories during Q4 2024, reflecting strong operational performance and strategic initiatives: 1. **Revenue Growth**: ENVA's revenue for Q4 2024, was $690 million, marking a 25% increase year-over-year and a 10% sequential rise. This growth was driven by robust originations, which saw a 28% year-over-year increase to $1.6 billion, and small business loan originations surged by 33% to over $1 billion, a 14% sequential rise. Consumer originations also contributed to the growth, rising 19% year-over-year to $569 million, and 16% sequentially. |code|Ticker|Name|Date|Business Composition|Revenue By Business|market_code| |---|---|---|---|---|---|---| |ENVA|ENVA.N|Enova International|20240101-2024|Other|3.7504E7|169| |ENVA|ENVA.N|Enova International|20240101-2024|Other|2.7363E7|169| |ENVA|ENVA.N|Enova International|20240101-2024|Other|1.7777E7|169| |ENVA|ENVA.N|Enova International|20240101-2024|Loans and Finance Receivables|6.01208E8|169| |ENVA|ENVA.N|Enova International|20240101-2024|Other|8681000|169| |ENVA|ENVA.N|Enova International|20240101-2024|Loans and Finance Receivables|6.01208E8|169| |code|Ticker|Name|Date|Net Income YoY|Net Income|market_code| |---|---|---|---|---|---|---| |ENVA|ENVA.N|Enova International|2024 Q1|-4.899554228933881|4.8428E7|169| |ENVA|ENVA.N|Enova International|2024 Q2|11.976321528715339|5.3911E7|169| |ENVA|ENVA.N|Enova International|2024 Q3|5.156836623470994|4.3414E7|169| |ENVA|ENVA.N|Enova International|2024 Q4|83.20006902899217|6.3695E7|169| |code|Ticker|Name|Date|Selling, General, and Administrative Expenses|Operating Expenses|market_code| |---|---|---|---|---|---|---| |ENVA|ENVA.N|Enova International|2024 Q1|1.60695E8||169| |ENVA|ENVA.N|Enova International|2024 Q2|1.70182E8||169| |ENVA|ENVA.N|Enova International|2024 Q3|1.90014E8||169| |ENVA|ENVA.N|Enova International|2024 Q4|1.99409E8||169| 2. **Expenses Trends**: ENVA's adjusted EBITDA increased by 42% year-over-year, indicating strong operational efficiency. The adjusted EPS jumped by 63% to $2.45 per diluted share. Despite the growth, ENVA noted a disconnect between its valuation and financial results, with a PE ratio of 8.2 times on 2025 estimates, suggesting room for valuation appreciation. 3. **Financial Strength**: ENVA's balance sheet remained solid, with $1.2 billion in liquidity, supporting a $300 million share repurchase program. The cost of funds stood at 9.6%, with expectations for reductions due to Federal Reserve rate cuts. 4. **Credit Quality**: ENVA's credit quality remained strong, evidenced by a decrease in net charge-off rates to 8.4% from 9.4% in the third quarter of the previous year, reflecting improved asset performance. In summary, ENVA's Q4 2024 financials showcased robust revenue growth, enhanced profitability, and strong balance sheet liquidity, underscoring its position in the financial services sector.