“We are pleased to report continued strong loan growth and solid credit metrics across our portfolio,” said David Fisher, Enova’s Chief Executive Officer. “We have successfully demonstrated our ability to quickly adapt to changes, including shifting macro-economic conditions. We continue to see strength in consumers and small businesses as high employment and rising wages provide an ideal backdrop for solid credit performance. Looking forward, we are confident that our highly flexible, online-only business model and well-diversified portfolio position us well to continue to drive profitable growth while also effectively managing risk.”
Second Quarter 2022 Summary
- Total revenue of $408 million in the second quarter of 2022 increased 54% from $265 million in the second quarter of 2021.
- Net revenue margin of 65% in the second quarter of 2022 compared to 98% in the second quarter of 2021.
- Net income attributable to Enova International, Inc. of $52 million, or $1.56 per diluted share, in the second quarter of 2022 compared to $80 million, or $2.10 per diluted share, in the second quarter of 2021.
- Second quarter 2022 adjusted EBITDA, a non-GAAP measure, of $102 million compared to $135 million in the second quarter of 2021.
- Adjusted earnings of $55 million, or $1.64 per diluted share, both non-GAAP measures, in the second quarter of 2022 compared to adjusted earnings of $86 million, or $2.26 per diluted share, in the second quarter of 2021.
“As we have moved into a normalized post-pandemic economy, we have continued to grow our portfolio with attractive unit economics,” said Steve Cunningham, CFO of Enova. “Additionally, we meaningfully increased our funding capacity during the quarter at attractive terms and now have more than $1 billion in available liquidity. Our solid balance sheet gives us the financial flexibility to successfully navigate a range of operating environments and to continue to deliver on our commitment to long-term shareholder value through both continued investments in our business as well as share repurchases.”