Oportun Stock Jumps 30% After Third-Quarter Results and Raised Full-Year Outlook

Oportun (Nasdaq: OPRT) shares jumped 29.6% on Wednesday, closing at $13.01 from a previous close of $10.04, after the consumer lender reported third-quarter results and raised its full-year outlook. The S&P 500 ETF (SPY) rose 1.65% over the session, and trading volume was about 4.2 times normal.

The company reported the results in an 8-K filed after the close on Tuesday, with a press release attached. Total revenue rose 3% to $246 million, the company's first year-over-year growth since the fourth quarter of 2023. GAAP net income was $23 million, up from $5.2 million a year earlier, and adjusted net income grew 38% to $26 million.

Outlook raised for 2026

Oportun now expects full-year total revenue of $955 million to $960 million and adjusted EPS of $1.60 to $1.70, which it said reflects 21% year-over-year growth at the midpoint. It also lowered its expected annualized net charge-off rate to 11.6%, plus or minus 10 basis points. The press release said the quarter outperformed the company's guidance for revenue, adjusted EBITDA and net charge-offs.

Originations and credit trends

Aggregate originations rose 12% to $572 million. The company said returning unsecured members and secured personal loans grew a combined 25%. The annualized net charge-off rate fell to 10.6% from 11.8% a year earlier, and the 30+ day delinquency rate was 4.1%, down from 4.7%.

Costs were a mixed picture. Total operating expenses were roughly flat at $92 million, while adjusted operating expenses rose 9%, driven by higher direct marketing and personnel costs. Before the move, the company's market value was about $462 million.

The filing does not state what drove the share price move on Wednesday beyond the results and outlook it described.