Enova International: Q4 Earnings Snapshot - Strong Growth and Solid Credit Performance

Enova International (NYSE: ENVA), a leading financial services company powered by machine learning and world-class analytics, recently announced its financial results for the fourth quarter and full year ended December 31, 2024. The company reported strong top- and bottom-line results, driven by its diversified product offerings, scalable operating model, and solid risk management capabilities. Here's a snapshot of Enova's Q4 earnings:

Fourth Quarter 2024 Summary:

* Total revenue of $730 million increased 25% from $584 million in the fourth quarter of 2023.
* Net revenue margin of 57% was consistent with 56% in the fourth quarter of 2023, reflecting continued solid credit performance.
* Net income of $64 million, or $2.30 per diluted share, increased 83% from $35 million, or $1.13 per diluted share, in the fourth quarter of 2023.
* Adjusted EBITDA of $174 million increased 34% from $130 million in the fourth quarter of 2023.
* Adjusted earnings per share of $2.61 increased 43% from $1.83 per diluted share in the fourth quarter of 2023.
* Total company combined loans and finance receivables increased 20% from the end of the fourth quarter of 2023 to a record $4.0 billion, with total company originations of $1.7 billion in the quarter.
* Repurchased $51 million of common stock under the company's share repurchase program.

Full Year 2024 Summary:

* Total revenue of $2.7 billion increased 26% from $2.1 billion in 2023.
* Net revenue margin of 58% was flat compared to 2023.
* Net income of $209 million, or $7.43 per diluted share, increased 20% from $175 million, or $5.49 per diluted share, in 2023.
* Adjusted EBITDA of $657 million increased 31% from $503 million in 2023.
* Adjusted earnings per share of $9.15 increased 34% from $6.85 in 2023.

Enova's strong financial results for the fourth quarter and full year 2024 showcase the company's ability to deliver consistently strong financial performance, even in a challenging macroeconomic environment. The company's diversified product offerings, scalable operating model, world-class risk management capabilities, and balance sheet flexibility have driven its ability to produce sustainable and profitable growth.



Enova's CEO, David Fisher, attributed the company's success to its world-class team, strong competitive position, and dedication to unit economics. The company's portfolio expanded to nearly $4 billion, driven by continued strength in both its SMB and consumer businesses. Looking ahead, Enova believes it has significant momentum heading into 2025 and is confident in its ability to continue meeting customer needs while creating value for shareholders.

Enova's CFO, Steve Cunningham, highlighted the company's strong financial results and its ability to strike a prudent balance between growth and risk. The company ended the year with record top- and bottom-line results, while maintaining ample liquidity, strong capitalization, and solid returns on equity. Enova repurchased nearly $140 million of its shares during the year, demonstrating its commitment to returning capital to shareholders.

Enova International's Q4 earnings snapshot highlights the company's ability to adapt to changing market conditions and maintain solid financial performance. The company's diversified product offerings, strong competitive position, and dedication to unit economics have enabled it to deliver sustainable and profitable growth, even in a challenging macroeconomic environment. As Enova looks ahead to 2025, it is well-positioned to continue meeting customer needs and creating value for shareholders.