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Earnings (Loss) Per Share | 9 Months Ended
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Sep. 30, 2023
Earnings Per Share [Abstract] |
Earnings (Loss) Per Share | Earnings (Loss) Per Share The following table sets forth the computation of basic and diluted earnings (loss) per share for the three and nine months ended September 30, 2023 and 2022 (in thousands, except share and per share data):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Numerator: |  |  |  |  |  |  |
Net income (loss) attributable to OppFi Inc. | $ | 2,169 |  |  | $ | (571) |  |  | $ | 4,562 |  |  | $ | 3,963 |
Net income (loss) available to Class A common stockholders - Basic | 2,169 |  |  | (571) |  |  | 4,562 |  |  | 3,963 |
Net income attributable to noncontrolling interest | 35 |  |  | — |  |  | 68 |  |  | 4,576 |
Income tax expense | (8) |  |  | — |  |  | (16) |  |  | (1,105) |
Net income (loss) available to Class A common stockholders - Diluted | $ | 2,196 |  |  | $ | (571) |  |  | $ | 4,614 |  |  | $ | 7,434 |
Denominator: |  |  |  |  |  |  |
Weighted average Class A common stock outstanding - Basic | 16,772,275 |  | 13,972,971 |  | 15,820,262 |  | 13,694,733
Effect of dilutive securities: |  |  |  |  |  |  |
Stock options | — |  | — |  | — |  | —
Restricted stock units | 235,514 |  | — |  | 198,698 |  | 123,722
Performance stock units | 49,989 |  | — |  | 27,871 |  | 11,986
Warrants | — |  | — |  | — |  | —
Employee stock purchase plan | — |  | — |  | — |  | —
Retained OppFi Units, excluding Earnout Units | — |  | — |  | — |  | 70,446,836
Dilutive potential common shares | 285,503 |  | — |  | 226,569 |  | 70,582,544
Weighted average units outstanding - diluted | 17,057,778 |  | 13,972,971 |  | 16,046,831 |  | 84,277,277
Earnings (loss) per share: |  |  |  |  |  |  |
Basic | $ | 0.13 |  |  | $ | (0.04) |  |  | $ | 0.29 |  |  | $ | 0.29 |
Diluted | $ | 0.13 |  |  | $ | (0.04) |  |  | $ | 0.29 |  |  | $ | 0.09 |
The following table presents securities that have been excluded from the calculation of diluted earnings (loss) per share as their effect would have been anti-dilutive for the three and nine months ended September 30, 2023 and 2022:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Public Warrants | 11,887,500 |  |  | 11,887,500 |  |  | 11,887,500 |  |  | 11,887,500 |
Private Unit Warrants | 231,250 |  |  | 231,250 |  |  | 231,250 |  |  | 231,250 |
$11.50 Exercise Price Warrants | 2,248,750 |  |  | 2,248,750 |  |  | 2,248,750 |  |  | 2,248,750 |
$15 Exercise Price Warrants | 912,500 |  |  | 912,500 |  |  | 912,500 |  |  | 912,500 |
Underwriter Warrants | 59,437 |  |  | 59,437 |  |  | 59,437 |  |  | 59,437 |
Stock Options | 1,889,754 |  |  | 1,978,972 |  |  | 1,949,233 |  |  | 2,178,347 |
Restricted stock units | 1,874,078 |  |  | 2,545,635 |  |  | 2,071,183 |  |  | 1,718,129 |
Performance stock units | 143,897 |  |  | 448,720 |  |  | 201,845 |  |  | 217,730 |
Noncontrolling interest - Earnout Units | 25,500,000 |  |  | 25,500,000 |  |  | 25,500,000 |  |  | 25,500,000 |
Noncontrolling interest - OppFi Units | 68,230,327 |  |  | 69,659,100 |  |  | 68,779,582 |  |  | — |
Potential common stock | 112,977,493 |  |  | 115,471,864 |  |  | 113,841,280 |  |  | 44,953,643 |

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