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Earnings (Loss) Per Share (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted 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

Schedule of Antidilutive Securities Excluded from Calculation of Earnings (loss) Per Share

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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- References

No definition available.

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- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

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X

- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

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