The following is a summary of the OppFi, Inc (OPFI) Q3 2024 Earnings Call Transcript:

Financial Performance:

• OppFi Inc reported a record quarterly revenue of $136.6 million.

• GAAP net income grew drastically by 106.4% to $32.1 million, marking another record for the company.

• Adjusted net income increased significantly by 116.2% year-over-year to $28.8 million.

• Total expenses as a percentage of total revenue improved to 41.1%, from 45.1% the previous year.

Business Progress:

• The company has seen robust operational improvements, including successful execution of strategic initiatives and automation efforts.

• There has been a continuous focus on process automation leading to operational efficiencies.

• OppFi plans to integrate AI-based enhancements going into 2025.

• The equity investment in Bitty marks entry into the small business financing market as part of strategic market expansion.

Opportunities:

• The company anticipates growth driven by the OppFi platform and the strategic exploration of similar business opportunities that align with the overall vision of OppFi.

Risks:

• The gradual growth in AI services as they scale and potential general availability issues may pose risks to the expected growth trajectory.

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