Oportun Financial Swings to 1Q Loss, Tightens Underwriting Criteria
Oportun Financial Swings to 1Q Loss, Tightens Underwriting Criteria
DJ Oportun Financial Swings to 1Q Loss, Tightens Underwriting Criteria
By Maria Armental
Financial technology company Oportun Financial Corp. swung to a loss in the March quarter, dragged down by a reduction in the so-called fair value of its loan portfolio amid the coronavirus pandemic.
The California-based company didn't give financial projections, citing uncertainty about the business impact of the coronavirus pandemic, but said it has tightened underwriting criteria to reduce its credit risk exposure and put on hold its retail-footprint expansion.
Company officials said that beginning in the last week of March, Oportun started offering emergency-hardship deferrals, which allow customers to skip payments for 30 days. Those deferrals peaked at 14.6% in the last week of April and stood at 8.6% as of May 12, the company said.
Shares rose 19% to $7.15 in after-hours trading, but the stock remains far below its $15.70 market debut last year.
Overall, Oportun reported a first-quarter net loss of $13.3 million, or 49 cents a share, compared with a profit of $14.6 million, or 51 cents a share, a year earlier. On an adjusted basis, the loss was 4 cents a share.
Net revenue fell to $80.6 million from $98.7 million a year earlier.
Analysts surveyed by FactSet had expected a profit of 9 cents a share, or 17 cents as adjusted, on $99.8 million in revenue.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
May 14, 2020 18:56 ET (22:56 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
DJ Oportun Financial Swings to 1Q Loss, Tightens Underwriting Criteria
DJ 歐文財務波動至第一季度虧損，收緊承保準則
By Maria Armental
瑪麗亞·阿門塔爾
Financial technology company Oportun Financial Corp. swung to a loss in the March quarter, dragged down by a reduction in the so-called fair value of its loan portfolio amid the coronavirus pandemic.
金融科技公司 Oportun Financial Corp. 在 3 月季度虧損，在冠狀病毒大流行期間，其貸款組合的所謂公允價值減少所拖累。
The California-based company didn't give financial projections, citing uncertainty about the business impact of the coronavirus pandemic, but said it has tightened underwriting criteria to reduce its credit risk exposure and put on hold its retail-footprint expansion.
這家總部位於加利福尼亞州的公司並沒有提供財務預測，理由是對冠狀病毒大流行的業務影響的不確定性，但表示已收緊承保標準，以減少其信用風險敞口並保持其零售足跡擴張。
Company officials said that beginning in the last week of March, Oportun started offering emergency-hardship deferrals, which allow customers to skip payments for 30 days. Those deferrals peaked at 14.6% in the last week of April and stood at 8.6% as of May 12, the company said.
公司官員表示，從 3 月的最後一周開始，Oportun 開始提供緊急困難的延期服務，這使客戶可以在 30 天內跳過付款。該公司表示，這些延期在 4 月的最後一周達到 14.6％ 的高峰，截至 5 月 12 日為 8.6％。
Shares rose 19% to $7.15 in after-hours trading, but the stock remains far below its $15.70 market debut last year.
股票在收市後交易時段上漲 19%，至 7.15 美元，但該股價仍遠低於去年首次亮相 15.70 美元的市場。
Overall, Oportun reported a first-quarter net loss of $13.3 million, or 49 cents a share, compared with a profit of $14.6 million, or 51 cents a share, a year earlier. On an adjusted basis, the loss was 4 cents a share.
總體而言，Oportun 報告了第一季度的淨虧損為 13.3 萬美元，即每股 49 美分，而一年前的利潤為 14.6 萬美元，即每股 51 美分。在經調整的基礎上，虧損為每股 4 美分。
Net revenue fell to $80.6 million from $98.7 million a year earlier.
淨收入由去年的 98.7 億美元降至 860 萬美元。
Analysts surveyed by FactSet had expected a profit of 9 cents a share, or 17 cents as adjusted, on $99.8 million in revenue.
受 FactSet 調查的分析師預計盈利為每股 9 美分，或經調整後的 17 美分，收入達 99.8 億美元。
Write to Maria Armental at maria.armental@wsj.com
寫信給瑪麗亞·阿倫塔爾在 maria.armental@wsj.com
(END) Dow Jones Newswires
(完) 道瓊斯通訊社
May 14, 2020 18:56 ET (22:56 GMT)
2020 年 5 月 14 日太平洋時間 18:56（格林威治標準時間 22:56）
Copyright (c) 2020 Dow Jones & Company, Inc.
版權所有 (c) 2020 道瓊斯公司
譯文內容由第三人軟體翻譯。
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