Oportun Financial Corp Achieves GAAP Profitability in Q3, Reduces Operating Expenses, and Executes Successful ABS Financings Amidst Challenges in Consumer Credit and Revenue Decline.

Oportun Financial Corp (OPRT) achieved GAAP profitability for the fourth consecutive quarter with a net income of $5.2 million. The company reported a significant improvement in return on equity (ROE), which increased by 40% year over year. Operating expenses were reduced by 11% year over year. However, the annualized net charge-off rate was 11.8%, and the 30-day delinquency rate was at the higher end of internal expectations.