What changed in this filing

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Item 5. Other Information

2024-05-10 compared with 2023-11-09 · 23 added, 15 removed, 58 unchanged (40% of the section changed)

4 unchanged sentences

Adjusted EBITDA Adjusted EBITDA is a non-GAAP financial measure calculated as net income (loss), adjusted to eliminate the effect of the following items:

income tax expense (benefit), stock-based compensation expense, depreciation and amortization, interest expense from corporate financing, certain non-recurring charges, origination fees for Loans Receivable at Fair Value, net and fair value mark-to-market adjustments

income tax expense (benefit), stock-based compensation expense, depreciation and amortization, interest expense from corporate financing facilities, including the senior secured term loan and the residual financing facility, certain non-recurring charges, and fair value mark-to-market adjustments

Acquisition Financing Asset-backed floating rate variable funding note and asset-backed residual certificate secured by certain residual cash flows of the Company's securitizations.

1 unchanged sentence

Included as "Acquisition and corporate financing" on the Consolidated Balance Sheets

Adjusted Earnings Per Share ("EPS") Adjusted EPS is a non-GAAP financial measure calculated by dividing Adjusted Net Income by adjusted weighted-average diluted common shares outstanding

Adjusted Net Income Adjusted Net Income is a non-GAAP financial measure calculated by adjusting our net income (loss) adjusted to exclude income tax expense (benefit), stock-based compensation expense, and certain non-recurring charges

Adjusted Earnings Per Share ("EPS") Adjusted EPS is a non-GAAP financial measure calculated by dividing Adjusted Net Income by diluted adjusted weighted-average common shares outstanding

Adjusted Operating Efficiency Adjusted Operating Efficiency is a non-GAAP financial measure calculated by dividing adjusted total operating expenses (excluding stock-based compensation expense and certain non-recurring charges) by total revenue

8 unchanged sentences

Corporate Financing Senior secured term loan secured by the assets of the Company and certain of its subsidiaries guaranteeing the term loan, including pledges of the equity interests of certain subsidiaries that are directly or indirectly owned by the Company.

Included as "Acquisition and corporate financing" on the Consolidated Balance Sheets

Included in "Acquisition and corporate financing" on the Consolidated Balance Sheets

Cost of Debt Annualized interest expense divided by Average Daily Debt Balance

3 unchanged sentences

GAAP Generally Accepted Accounting Principles

Leverage Average Daily Debt Balance divided by Average Daily Principal Balance

Leverage Average Daily Debt Balance, excluding Corporate Financing, divided by Average Daily Principal Balance

Loans Receivable at Fair Value All loans receivable held for investment.

2 unchanged sentences

Managed Principal Balance at End of Period also includes loans and accounts originated under a bank partnership program that we service

Members Members include borrowers with an outstanding or successfully paid off loan, originated by us or under a bank partnership program that we service, or individuals who have been approved for a credit card issued under a bank partnership program.

Members also include individuals who have signed-up to use or are using any of our Savings, Direct, Investing and/or Retirement products

Net Revenue Net Revenue is calculated by subtracting interest expense from total revenue and adding the net increase (decrease) in fair value

Operating Efficiency Total operating expenses divided by total revenue

Owned Principal Balance at End of Period Total amount of outstanding principal balance for all loans and credit card receivables, including finance receivables pledged as part of a secured borrowing and excluding loans and receivables sold or loans retained by a bank partner, at the end of the period

Owned Principal Balance at End of Period Total amount of outstanding principal balance for all loans and credit card receivables, excluding loans and receivables sold or loans retained by a bank partner, at the end of the period

Personal Loan Warehouse (or "PLW") Revolving personal loan warehouse debt facility, collateralized by unsecured personal loans and secured personal loans that replaced the VFN facility.

3 unchanged sentences

Purchases and cash advances, reduced by returns and principal payments received and principal charge-offs to date for our credit cards

Term or Abbreviation Definition

Products Products refers to the aggregate number of personal loans and/or credit card accounts that our Members have had or been approved for that have been originated by us or through one of our bank partners.

Products also include the aggregate number of digital banking products we offer, including Savings, Direct, Investing and Retirement, that our Members use or have signed-up to use

Return on Equity Annualized net income divided by average stockholders' equity for a period

1 unchanged sentence

Weighted Average Interest Rate Annualized interest expense as a percentage of average debt

Exhibit Index

Incorporated by Reference

1 unchanged sentence

Exhibit Filing Date Filed Herewith

3.1 Amended and Restated Bylaws of Oportun Financial Corporation

8-K 001-39050 3.1 10/11/2023

Seventh Amendment to Indenture by and between Oportun RF, LLC and Wilmington Trust, National Association, dated as of February 29, 2024.

001-39050 10.17-8 3/15/2024

Eighth Amendment to Indenture by and between Oportun RF, LLC and Wilmington Trust, National Association, dated as of March 8, 2024.

001-39050 10.1 3/14/2024

Amendment No.

3 to Credit Agreement, dated as of March 12, 2024, by and among Oportun Financial Corporation, the Subsidiary Guarantors party thereto, Wilmington Trust, National Association, and the Lenders party thereto.

001-39050 10.2 3/14/2024

Master Amendment to Transaction Documents by and between Oportun CCW Trust, Oportun CCW Depositor, LLC, Oportun, Inc., Wilmington Trust, National Association, and WebBank, dated as of January 31, 2024 .

Ninth Amendment to Indenture by and between Oportun CCW Trust and Wilmington Trust, National Association, dated as of February 29 , 2024 .

Tenth Amendment to Indenture by and between Oportun CCW Trust and Wilmington Trust, National Association, dated as of March 28, 2024 .

Sixth Amendment to the Loan and Security Agreement by and among Oportun PLW Trust, Oportun PLW Depositor, LLC, Oportun, Inc., the Lenders thereto, and Wilmington Trust, National Association, dated as of February 29, 2024 .

First Amendment to the Receivables Loan and Security Agreement, dated as of March 2 2 , 2024 , by and among Oportun CL Trust 2023-A, Oportun, Inc., and Oportun CL Depositor, LLC, Wilmington Trust, National Association and the Lenders party thereto .

Indenture between Oportun Issuance Trust 202 4 - 1 and Wilmington Trust, National Association, dated as of February 13, 2024 .

31.1 Rule 13a-14(a)/15d-14(a) Certifications of the Chief Executive Officer and Director of Oportun Financial Corporation

9 unchanged sentences

** The certifications attached as Exhibit 32.1 that accompany this Quarterly Report on Form 10-Q are not deemed filed with the Securities and Exchange Commission and are not to be incorporated by reference into any filing of the Registrant under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date of this Quarterly Report on Form 10-Q, irrespective of any general incorporation language contained in such filing.

Certain portions of this exhibit have been omitted pursuant to Item 601(b)(10) of Regulation S-K by means of marking such portions with asterisks because the Registrant has determined that the information is not material and would likely cause competitive harm to the Registrant if publicly disclosed.

** Certain portions of this exhibit have been omitted pursuant to Item 601(a)(5) of Regulation S-K.

The registrant agrees to furnish supplementally to the SEC a copy of any omitted schedule or exhibit upon request by the SEC.

The instance document does not appear in the interactive data file because its XBRL tags are embedded within the Inline XBRL document.

1 unchanged sentence

OPORTUN FINANCIAL CORPORATION

November 9, 2023 By:

May 10, 2024 By:

/s/ Jonathan Coblentz

3 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 5. Other Information