Enova's Q2 2025: Unraveling Contradictions in Consumer Credit Performance and Growth Strategies

Consumer Credit Performance and Product Adjustments, Credit Metrics and Performance Stability, Marketing Efficiency and Consumer Origination Trends, Consumer Credit Performance, and Small Business Segment Growth are the key contradictions discussed in Enova International's latest 2025Q2 earnings call.



Financial Performance and Growth:
- Enova International reported record revenue of $764 million for Q2 2025, up 22% year-over-year and 2% sequentially.
- The growth was driven by strong demand, stable credit, efficient marketing, and lower cost of funds.

Origination and Portfolio Expansion:
- Enova International's total originations increased by 28% year-over-year to $1.8 billion in Q2 2025.
- This growth resulted in a 20% increase in combined loan and finance receivables to $4.3 billion, with small business products contributing 65% and consumer loans 35%.

Small Business Product Strength:
- SMB products achieved record originations of $1.2 billion in Q2 2025, marking four consecutive quarters above the billion-dollar mark.
- This performance was attributed to Enova's leading brand presence, scale, and low levels of competition.

Leadership Transition and Management:
- David Fisher announced his transition to Executive Chairman on January 1, 2026, with Steve Cunningham succeeding him as CEO, and Scott Cornelis moving from Treasurer to CFO.
- The leadership transition was part of a disciplined and long-term succession planning process to ensure a smooth transition and continued company growth.