Dallas, Texas--(Newsfile Corp. - May 8, 2026) - OppFi, Inc. (NYSE: OPFI): Stonegate Capital Partners Updates Coverage on OppFi (NYSE: OPFI). OppFi's 1Q26 results were steady, but the bigger development was its shift toward a bank-enabled, deposit-funded model through the pending BNCC acquisition. Revenue and receivables grew despite lower originations, as tighter credit, inflation, weaker sentiment, and higher average tax refunds temporarily reduced loan demand. Higher charge-offs pressured adjusted earnings, but expense discipline held as management invested across LOLA, Model 7, LOC, SMB lending, and BNC integration. In our view, OppFi is prioritizing credit discipline and long-term platform expansion over near-term volume growth.
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Key Takeaways:
- BNCC meaningfully expands the growth runway: The pending acquisition adds ~$1.0B of low-cost deposits, supports national expansion, and is expected to drive 25%+ adjusted EPS accretion in year one.
- Credit discipline supported a higher-quality revenue base: Net originations declined 7.0% y/y to $176.0M, but receivables grew 9.4% to $444.9M and revenue increased 8.3% to a record $151.9M.
- Product and technology investments add multiple 2026 catalysts: LOLA migration begins in May, Model 7 is expected in fall 2026, and LOC launches this summer, while FY26 guidance remains intact at $650M-$675M of revenue and $1.76-$1.84 of adjusted EPS.
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About Stonegate
Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking, equity research and capital raising for public and private companies.
Contacts:
Stonegate Capital Partners
(214) 987-4121
info@stonegateinc.com
Source: Stonegate, Inc.
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