XML 37 R23.htm IDEA: XBRL DOCUMENT
v3.21.2

Earnings Per Share | 9 Months Ended
--- | ---
Sep. 30, 2021
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share Prior to the reverse recapitalization, all net income was attributable to the noncontrolling interest. For the periods prior to July 20, 2021, earnings per share was not calculated as net income prior to the Business Combination was attributable entirely to OppFi-LLC. The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2021 (in thousands, except per share data):
|  | Three Months Ended |  | Nine Months Ended |  |  |  |
|  | September 30, 2021 |  | September 30, 2021 |  |
Numerator: |  |  |  |  |  |  |  |
Net income |  | $ | 30,392 |  |  | $ | 72,763 |  |  |  |  |
Net income attributable to noncontrolling interest |  | 16,267 |  |  | 58,638 |  |  |  |  |
Net income available to Class A common stockholders - Basic |  | 14,125 |  |  | 14,125 |  |  |  |  |
Dilutive effect of warrants on net income to Class A common stockholders |  | — |  |  | — |  |  |  |  |
Net income available to Class A common stockholders - Diluted |  | $ | 14,125 |  |  | $ | 14,125 |  |  |  |  |
Denominator: |  |  |  |  |  |  |  |
Weighted average Class A common stock outstanding - Basic |  | 13,363,995 |  | 13,107,873 |  |  |  |
Effect of dilutive securities: |  |  |  |  |  |  |  |
Stock options |  | — |  | — |  |  |  |
Warrants |  | — |  | — |  |  |  |
Dilutive potential common shares |  | — |  | — |  |  |  |
Weighted average units outstanding - diluted |  | 13,363,995 |  | 13,107,873 |  |  |  |
Earnings per share: |  |  |  |  |  |  |  |
Basic EPS |  | $ | 1.06 |  |  | $ | 1.08 |  |  |  |  |
Diluted earnings per unit |  | $ | 1.06 |  |  | $ | 1.08 |  |  |  |  |
The following table presents securities that have been excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive for the three and nine months ended September 30, 2021:
|  | Three Months Ended |  | Nine Months Ended
|  | September 30, 2021 |  | September 30, 2021
Public Warrants |  | 11,887,500 |  | 11,887,500
Private Unit Warrants |  | 231,250 |  | 231,250
$11.50 Exercise Price Warrants |  | 2,248,750 |  | 2,248,750
$15 Exercise Price Warrants |  | 912,500 |  | 912,500
Underwriter Warrants |  | 59,437 |  | 59,437
Stock Options |  | 5,600,000 |  | 5,600,000
Potential common stock |  | 20,939,437 |  | 20,939,437

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration