OPRT — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-06

• Aggregate Originations increased to $487.7 million for the three months ended June 30, 2026 from $480.8 million for the three months ended June 30, 2025, representing an 1.5% increase.

• Aggregate Originations decreased to $904.7 million for the six months ended June 30, 2026 from $950.2 million for the six months ended June 30, 2025, representing an 4.8% decrease. The decrease is primarily driven by lower originations from new customers as a result of credit tightening in response …

• Portfolio yield increased to 33.3% for the three months ended June 30, 2026, from 32.8% for the three months ended June 30, 2025, and decreased to 32.7% for the six months ended June 30, 2026, from 32.9% for the six months ended June 30, 2025.

• Annualized Net Charge-Off Rate for the six months ended June 30, 2026 and 2025 was 12.3% and 12.0%, respectively, up 30 basis points. The increase was also primarily attributable to a higher proportion of loans originated to new members during the first half of 2025.

• Due to credit tightening in response to the COVID-19 pandemic and government stimulus payments, our Annualized Net Charge-off Rate was 6.8% in 2021, lower than our historical norms. Our Annualized Net Charge-off Rate increased to 10.1% in 2022 primarily due the impact of historically high inflation,…

Text removed vs the prior filing · source: 10-Q · 2026-05-08

• Aggregate Originations decreased to $416.9 million for the three months ended March 31, 2026 from $469.4 million for the three months ended March 31, 2025, representing an 11.2% decrease. The decrease was primarily due to lower originations from new members in line with our continued conservative cr…

• Portfolio yield decreased to 32.1% for the three months ended March 31, 2026, from 33.0% for the three months ended March 31, 2025. The decrease was driven by reduced originations in line with our continued conservative credit posture.

• Our 30+ Day Delinquency Rate was 4.5% and 4.7% as of March 31, 2026 and 2025, respectively. The decrease primarily reflected our increased focus, beginning in the third quarter of 2025, on originations to returning members, which favorably impacted 30+ day delinquency performance.

• Due to credit tightening in response to the COVID-19 pandemic and government stimulus payments, our Annualized Net Charge-off Rate was 6.8% in 2021, lower than our historical norms. Our Annualized Net Charge-off Rate increased to 10.1% in 2022 primarily due the impact of historically high inflation,…

• *Numbers shown reflect year-to-date amounts for the three months ended March 31, for the indicated fiscal year.

Text added vs the prior filing · source: 10-Q · 2026-08-06

• significant increase in the number of members who successfully discharge their debt in a bankruptcy action, our results of operations could be adversely affected.

• Our securitizations contain collateral performance threshold triggers related to the three-month average annualized gross charge-off or net charge-off rate which, if exceeded, would lead to early amortization. To support our collateral requirements under our financing agreements, we use a random sel…

• back-up servicer or another successor servicer. If the back-up servicer or successor servicer is not adequate, the collection and processing of repayments may be impaired.

• Moreover, it has become common in recent years for individuals and groups to purchase intellectual property assets for the sole purpose of making claims of infringement and attempting to extract settlements from companies such as ours. Even in instances where we believe that claims

• CFPB while it works to promulgate a new rule-making process to revise the rule’s scope, definitions and timing. Compliance deadlines are uncertain since the CFPB has been enjoined from enforcing the rule and the April 1, 2026 deadline for the largest institutions has passed without action from the C…

Text removed vs the prior filing · source: 10-Q · 2026-05-08

• could be adversely affected. Furthermore, personal unsecured loans are generally dischargeable in bankruptcy. If we experience an unexpected, significant increase in the number of members who successfully discharge their debt in a bankruptcy action, our results of operations could be adversely affec…

• definitive agreement to sell our credit cards receivable portfolio, and we completed the sale of our credit cards receivable portfolio on November 12, 2024. Failure to achieve the anticipated benefits from the discontinuation or sale of these products could adversely affect our results of operations…

• occurrence of changes in our insurance policies, including premium increases or the imposition of large deductible or co-insurance requirements, could have an adverse effect on our business and financial condition.

• standards for oversight of their third-party service providers, any resulting regulatory action could have an adverse effect on their ability to fulfill their contractual obligations to us which could adversely affect our business, financial condition and results of operations.

• other location in which we have offices or facilities or employees working remotely, could adversely affect our business operations, financial condition and prospects, and our insurance coverage may be insufficient to compensate us for losses that may occur.

Text added vs the prior filing · source: 10-Q · 2026-08-06

• Secured financingAsset-backed revolving debt facilities, including the PLW facilities that are collateralized by unsecured personal loans and secured personal loans

Text removed vs the prior filing · source: 10-Q · 2026-05-08

• Asset-backed revolving debt facilities, including (1) the PLW facilities that are collateralized by unsecured personal loans and secured personal loans and (2) the CCW facility that was collateralized by credit card accounts until it was terminated on November 10, 2024.