OppFi Inc. Earnings Per Share Disclosure
| 2025 | 2024 | 2023 | |||||||||||||||
| Numerator: | |||||||||||||||||
| Net income (loss) attributable to OppFi Inc. | $ | 26,329 | $ | 7,258 | $ | (1,005) | |||||||||||
| Net income (loss) available to Class A common stockholders - Basic | 26,329 | 7,258 | (1,005) | ||||||||||||||
| Net income attributable to noncontrolling interest | — | — | — | ||||||||||||||
| Income tax expense | — | — | — | ||||||||||||||
| Net income (loss) available to Class A common stockholders - Diluted | $ | 26,329 | $ | 7,258 | $ | (1,005) | |||||||||||
| Denominator: | |||||||||||||||||
| Weighted-average Class A common stock outstanding - Basic | 26,506,458 | 20,145,606 | 16,391,199 | ||||||||||||||
| Effect of dilutive securities: | |||||||||||||||||
| Stock options | — | — | — | ||||||||||||||
| Restricted stock units | — | — | — | ||||||||||||||
| Performance stock units | — | — | — | ||||||||||||||
| Warrants | — | — | — | ||||||||||||||
| Employee stock purchase plan | — | — | — | ||||||||||||||
Retained OppFi Units, excluding Earnout Units (1) | — | — | — | ||||||||||||||
| Dilutive potential common shares | — | — | — | ||||||||||||||
| Weighted-average units outstanding - diluted | 26,506,458 | 20,145,606 | 16,391,199 | ||||||||||||||
| Earnings (loss) per common share: | |||||||||||||||||
| Basic EPS | $ | 0.99 | $ | 0.36 | $ | (0.06) | |||||||||||
| Diluted EPS | $ | 0.99 | $ | 0.36 | $ | (0.06) | |||||||||||
(1) Earnout Units were not earned pursuant to the earnout provisions of the Business Combination Agreement on or prior to July 21, 2024, the three (3) year anniversary of the closing date of the Company’s business combination. Accordingly, on such date the Earnout Units were forfeited. | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Public Warrants | 13,520,246 | 13,352,317 | 11,887,500 | ||||||||||||||
| $11.50 Exercise Price Warrants | 906,416 | 1,074,620 | 2,539,437 | ||||||||||||||
| $15 Exercise Price Warrants | 912,500 | 912,500 | 912,500 | ||||||||||||||
| Stock Options | 1,841,892 | 1,842,192 | 1,922,473 | ||||||||||||||
| Restricted stock units | 1,962,157 | 2,058,992 | 2,006,596 | ||||||||||||||
| Performance stock units | 34,828 | 96,060 | 183,526 | ||||||||||||||
| Employee stock purchase plan units | 7,838 | 9,857 | — | ||||||||||||||
Noncontrolling interest - Earnout Units (1) | — | — | 25,500,000 | ||||||||||||||
| Noncontrolling interest - Retained OppFi Units | 60,114,665 | 65,619,358 | 68,357,926 | ||||||||||||||
| Potential common stock | 79,300,542 | 84,965,896 | 113,309,958 | ||||||||||||||
(1) Earnout Units were not earned pursuant to the earnout provisions of the Business Combination Agreement on or prior to July 21, 2024, the three (3) year anniversary of the closing date of the Company’s business combination. Accordingly, on such date the Earnout Units were forfeited. | |||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 12, 2026 | Showing above |
| 2024 | Mar 11, 2025 | |
| 2023 | Mar 27, 2024 | |
| 2022 | Mar 29, 2023 | |
| 2021 | Mar 11, 2022 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.