XML 49 R31.htm IDEA: XBRL DOCUMENT
v3.25.2

Borrowings (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Debt Disclosure [Abstract] |
Schedule of Borrowings | The following table presents information regarding the Company's Secured Financing facilities:
|  |  |  |  |  |  |  | June 30, 2025 |  | December 31, 2024
Variable Interest Entity |  | Facility Amount |  | Maturity Date |  | Interest Rate |  | Balance |  | Balance
(in thousands) |  |  |  |  |  |  |  |  |  |
Oportun PLW Trust |  | $ | 429,030 |  |  | September 1, 2027 |  | Term SOFR + 3.35% |  | $ | 160,547 |  |  | $ | 265,654 |
Oportun PLW II Trust |  | 337,100 |  |  | August 1, 2028 |  | Term SOFR + 3.07% |  | 92,243 |  |  | 269,815 |
Oportun PLW III Trust |  | 187,500 |  |  | April 1, 2028 |  | Term SOFR + 3.34% |  | 78,291 |  |  | — |
Total secured financing |  | $ | 953,630 |  |  |  |  |  |  | $ | 331,081 |  |  | $ | 535,469 |
The following table presents information regarding asset-backed notes at fair value:
|  | June 30, 2025
Variable Interest Entity |  | Initial note amount issued (1) |  | Initial collateral balance (2) |  | Current note balance (1) |  | Current collateral balance (2) |  | Weighted average interest rate(3) |  | Original revolving period (4)
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Asset-backed notes recorded at fair value: |  |  |  |  |  |  |  |  |  |  |  |
Oportun Issuance Trust (Series 2022-3) |  | 300,000 |  |  | 310,993 |  |  | — |  |  | — |  |  | — | % |  | N/A
Oportun Issuance Trust (Series 2022-2) |  | 400,000 |  |  | 410,212 |  |  | — |  |  | — |  |  | — | % |  | N/A
Oportun Issuance Trust (Series 2022-A) |  | 400,000 |  |  | 410,211 |  |  | 158,831 |  |  | 176,423 |  |  | 6.04 | % |  | 2 years
Oportun Issuance Trust (Series 2021-C) |  | 500,000 |  |  | 512,762 |  |  | 280,905 |  |  | 303,018 |  |  | 2.48 | % |  | 3 years
Oportun Issuance Trust (Series 2021-B) |  | 500,000 |  |  | 512,759 |  |  | 178,168 |  |  | 196,783 |  |  | 2.06 | % |  | 3 years
Total asset-backed notes recorded at fair value |  | $ | 2,100,000 |  |  | $ | 2,156,937 |  |  | $ | 617,904 |  |  | $ | 676,224 |  |  |  |  |
|  | December 31, 2024
Variable Interest Entity |  | Initial note amount issued (1) |  | Initial collateral balance (2) |  | Current note balance (1) |  | Current collateral balance (2) |  | Weighted average interest rate(3) |  | Original revolving period (4)
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Asset-backed notes recorded at fair value: |  |  |  |  |  |  |  |  |  |  |  |
Oportun Issuance Trust (Series 2022-3) |  | $ | 300,000 |  |  | $ | 310,993 |  |  | $ | 54,463 |  |  | $ | 62,323 |  |  | 11.43 | % |  | N/A
Oportun Issuance Trust (Series 2022-2) |  | 400,000 |  |  | 410,212 |  |  | 40,453 |  |  | 46,578 |  |  | 10.82 | % |  | N/A
Oportun Issuance Trust (Series 2022-A) |  | 400,000 |  |  | 410,211 |  |  | 261,939 |  |  | 280,234 |  |  | 5.65 | % |  | 2 years
Oportun Issuance Trust (Series 2021-C) |  | 500,000 |  |  | 512,762 |  |  | 427,872 |  |  | 460,500 |  |  | 2.48 | % |  | 3 years
Oportun Issuance Trust (Series 2021-B) |  | 500,000 |  |  | 512,759 |  |  | 295,963 |  |  | 320,306 |  |  | 2.06 | % |  | 3 years
Oportun Funding XIV, LLC (Series 2021-A) |  | 375,000 |  |  | 383,632 |  |  | — |  |  | — |  |  | — | % |  | 2 years
Total asset-backed notes recorded at fair value |  | $ | 2,475,000 |  |  | $ | 2,540,569 |  |  | $ | 1,080,690 |  |  | $ | 1,169,941 |  |  |  |  |
(1)Initial note amount issued includes notes retained by the Company as applicable. The current balances are measured at fair value for asset-backed notes recorded at fair value. (2)Includes the unpaid principal balance of loans receivable, the balance of required reserve funds, cash, cash equivalents and restricted cash pledged by the Company. (3)Weighted average interest rate excludes notes retained by the Company. There were no notes retained by the Company as of June 30, 2025. The weighted average interest rate for Series 2022-A will change over time as the notes pay sequentially (in class priority order). (4)The revolving period for Series 2021-B ended on May 1, 2024 and Series 2022-A ended on June 1, 2024. These asset-backed notes have been amortizing since then. Series 2022-2 and Series 2022-3 were both amortizing deals with no revolving period. The following table represents information regarding the Company's asset-backed notes and asset-backed borrowings at amortized cost:
|  | June 30, 2025
Asset-backed Borrowings at Amortized Cost |  | Initial note amount issued (1) |  | Initial collateral balance (2) |  | Current note balance (1) |  | Current collateral balance (2) |  | Weighted average interest rate(3) |  | Original revolving period
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Oportun Issuance Trust 2025-B |  | $ | 439,250 |  |  | $ | 450,802 |  |  | $ | 436,366 |  |  | $ | 459,985 |  |  | 5.57 | % |  | 2 years
Oportun Issuance Trust 2025-A |  | 425,107 |  |  | 439,775 |  |  | 421,119 |  |  | 445,186 |  |  | 6.15 | % |  | 1 year
Oportun Issuance Trust 2024-2 |  | 223,250 |  |  | 236,119 |  |  | 128,954 |  |  | 153,422 |  |  | 7.51 | % |  | N/A
Oportun Issuance Trust 2024-1 |  | 199,500 |  |  | 211,002 |  |  | 53,505 |  |  | 62,399 |  |  | 9.68 | % |  | N/A
Oportun CL Trust 2023-A |  | 197,390 |  |  | 210,530 |  |  | 196,281 |  |  | 219,690 |  |  | 10.05 | % |  | 2 years
Other Asset Backed Borrowings (4) |  | N/A |  | N/A |  | 369,372 |  |  | 355,240 |  |  | N/A |  | N/A
Total asset-backed borrowings at amortized cost: |  | $ | 1,484,497 |  |  | $ | 1,548,228 |  |  | $ | 1,605,597 |  |  | $ | 1,695,922 |  |  |  |  |
|  | December 31, 2024
Asset-backed Borrowings at Amortized Cost |  | Initial note amount issued (1) |  | Initial collateral balance (2) |  | Current note balance (1) |  | Current collateral balance (2) |  | Weighted average interest rate(3) |  | Original revolving period
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Oportun Issuance Trust 2024-2 |  | $ | 223,250 |  |  | $ | 236,119 |  |  | $ | 188,316 |  |  | $ | 213,802 |  |  | 6.99 | % |  | N/A
Oportun Issuance Trust 2024-1 |  | 199,500 |  |  | 211,002 |  |  | 92,385 |  |  | 107,137 |  |  | 8.27 | % |  | N/A
Oportun CL Trust 2023-A |  | 197,390 |  |  | 210,530 |  |  | 195,855 |  |  | 219,717 |  |  | 10.05 | % |  | 2 years
Other Asset Backed Borrowings (4) |  | N/A |  | N/A |  | 507,776 |  |  | 503,032 |  |  | N/A |  | N/A
Total asset-backed borrowings at amortized cost: |  | $ | 620,140 |  |  | $ | 657,652 |  | $ | — |  | $ | 984,333 |  |  | $ | 1,043,689 |  |  |  |  |
(1)Initial note amount issued includes notes retained by the Company as applicable. The current balances are measured at amortized cost for asset-backed notes recorded at amortized cost. (2)Includes the unpaid principal balance of loans receivable, the balance of required reserve funds, cash, cash equivalents and restricted cash pledged by the Company. (3)Weighted average interest rate excludes notes retained by the Company. There were no notes retained by the Company as of June 30, 2025. (4)Consists of forward flow whole loan sales that do not qualify as sales for accounting purposes. The following table presents information regarding the Company's Corporate Financings:
|  |  |  |  |  |  |  | June 30, 2025 |  | December 31, 2024
Entity |  | Original Balance |  | Maturity Date |  | Interest Rate |  | Balance |  | Balance
(in thousands) |  |  |  |  |  |  |  |  |  |
Oportun Financial Corporation |  | 235,000 |  |  | November 14, 2028 |  | 15.00% per annum |  | 193,944 |  |  | 203,751 |
Total Corporate Financing |  | $ | 235,000 |  |  |  |  |  |  | $ | 193,944 |  |  | $ | 203,751 |

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

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration