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Enova International, Inc. (NYSE: ENVA) is a technology-driven financial services company that operates an online lending platform to provide innovative financial solutions. The company specializes in serving consumers and small businesses who are underserved by traditional banks. Enova offers a diverse range of lending and financing products tailored to meet the needs of its customers.
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Consumer Loans and Finance Receivables - Provides unsecured loans to individuals, including installment loans and line of credit accounts, under brands such as CashNetUSA, NetCredit, and Simplic.
- Installment Loans: Longer-term loans requiring repayment in multiple installments.
- Line of Credit Accounts: Flexible credit products allowing customers to draw funds as needed.
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Small Business Loans and Finance Receivables - Offers financing solutions to small businesses, including installment loans, receivables purchase agreements (RPAs), and line of credit accounts, under brands like OnDeck and Headway Capital.
- Installment Loans: Provides businesses with longer-term financing options.
- Receivables Purchase Agreements (RPAs): Funds provided in exchange for a portion of future receivables at a discounted rate.
- Line of Credit Accounts: Flexible financing allowing businesses to access funds as needed.
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Credit Services Organization (CSO) Program - Arranges loans with third-party lenders in Texas, guarantees consumer loan payment obligations, and purchases loans in case of default.
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International Money Transfer Services - Facilitates mobile international money transfers, focusing on Latin America and Asia, through its Pangea Universal Holdings acquisition.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
David Fisher ExecutiveBoard | Chief Executive Officer | Board Member at GoHealth, Inc. (since May 2022); Board Member at Fathom Digital Manufacturing Corporation (since December 2021); Board Member at Meridian International; Board Member at Friss fraudebestrijding | David Fisher has been the Chief Executive Officer of Enova International since January 29, 2013. He also serves on the board as a Director since February 11, 2013 and as Chairman of the Board since October 14, 2014. | View Report → |
Kirk Chartier Executive | Chief Strategy Officer | Kirk Chartier currently serves as Chief Strategy Officer at Enova, having joined the company in April 2013 as Chief Marketing Officer. He has built a strong career through key executive roles at optionsXpress, Schwab, and Zyman Group, among others. | ||
Steven Cunningham Executive | Chief Financial Officer | Board of Directors of AgriBank since January 2022 | Steven Cunningham has served as the Chief Financial Officer of Enova since June 2016, where he oversees the company's financial operations. He also holds the position of Vice President at Enova and serves on the Board of Directors of AgriBank since January 2022. |
- Given that you reiterated a stable mix of new versus recurring customers at roughly 40% for both portfolios, what additional strategies are you considering to enhance customer lifetime value and potentially improve this balance over time?
- With your Q1 and full-year 2025 guidance heavily reliant on historical seasonality and tax refund patterns, how will your models adjust if consumer behavior deviates significantly from those trends in a less predictable macro environment?
- As you target a 15% origination growth and 25% adjusted EPS growth for 2025, what specific measures are in place to mitigate credit risk associated with increased lending in light of current economic uncertainties?
- You mentioned that each 25 basis point reduction in SOFR translates to approximately $0.10 of annual EPS accretion; if the anticipated rate cuts do not occur or are delayed, what contingencies will you implement to counterbalance the higher cost of funds?
- With approximately $200 million remaining under your current repurchase authorization and your view that the stock is undervalued, how do you plan to balance further organic growth investment against returning capital to shareholders if market conditions remain subdued?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Ace Cash Express | Storefront consumer loan lenders that offer loans online or in storefronts are a source of competition in some of the markets where the company offers consumer loans. |
Check Into Cash | Storefront consumer loan lenders that offer loans online or in storefronts are a source of competition in some of the markets where the company offers consumer loans. |
Check 'n Go | Storefront consumer loan lenders that offer loans online or in storefronts are a source of competition in some of the markets where the company offers consumer loans. |
One Main Financial | Storefront consumer loan lenders that offer loans online or in storefronts are a source of competition in some of the markets where the company offers consumer loans. |
Avant | Listed as a competitor in the issuer's competitive landscape. |
Lending Club | Listed as a competitor in the issuer's competitive landscape. |
Marlette | Listed as a competitor in the issuer's competitive landscape. |
Elevate | Listed as a competitor in the issuer's competitive landscape. |
Braviant | Listed as a competitor in the issuer's competitive landscape. |
Springleaf | Listed as a competitor in the issuer's competitive landscape. |
Chorus Credit | Listed as a competitor in the issuer's competitive landscape. |
Lending Point | Listed as a competitor in the issuer's competitive landscape. |
Opportun | Listed as a competitor in the issuer's competitive landscape. |
Opp Loans | Listed as a competitor in the issuer's competitive landscape. |
Listed as a competitor in the issuer's competitive landscape. | |
Listed as a competitor in the issuer's competitive landscape. | |
DFC Global Corp | Listed as a competitor in the issuer's competitive landscape. |
Listed as a competitor in the issuer's competitive landscape. | |
BillFloat | Listed as a competitor in the issuer's competitive landscape. |
PLS | Listed as a competitor in the issuer's competitive landscape. |
Upgrade | Listed as a competitor in the issuer's competitive landscape. |
Kabbage | Listed as a competitor in the issuer's competitive landscape. |
Curo | Listed as a competitor in the issuer's competitive landscape. |
Listed as a competitor in the issuer's competitive landscape. | |
Listed as a competitor in the issuer's competitive landscape. | |
Listed as a competitor in the issuer's competitive landscape. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Pangea Universal Holdings, Inc. | 2021 | Enova completed the acquisition on March 19, 2021, for a total consideration of $32.9 million ($30.0 million in cash and $2.9 million in loan forgiveness), with a preliminary allocation of $19.8 million to intangible assets and $11.3 million to goodwill, aiming to leverage advanced technology and expand into the international money transfer market. |
OnDeck Capital, Inc. | 2020 | Enova merged with OnDeck Capital on October 13, 2020, in a transaction valued at approximately $122 million in aggregate consideration (comprising both cash and Enova common stock), which included issuing 5.6 million shares, and was strategically designed to generate cost and revenue synergies, expand scale, and better serve small businesses in the post-COVID era. |
Recent press releases and 8-K filings for ENVA.
- Enova International, Inc. announced the issuance of $261,392,000 of Series 2025-1 Notes via its subsidiary ODAS IV as part of an asset-backed securitization facility transaction, dated March 20, 2025.
- The transaction involves four classes of notes with fixed interest rates of 5.08%, 5.52%, 6.64%, and 8.77% per annum, a revolving period ending in March 2028, and a final maturity in April 2032.
- Proceeds were used to purchase small business loans from OnDeck, which serve as collateral for the notes under strict eligibility and concentration requirements.
- Enova International, Inc. filed an 8-K on March 13, 2025 disclosing a major corporate update.
- The filing details a proposed private offering of Series 2025-1 Fixed Rate Asset-Backed Notes with an initial principal amount of $261,392,000, including specific interest rates and anticipated ratings for various classes.
- It features cautionary forward-looking statements outlining market risks and uncertainties that could impact the transaction’s completion and future performance.
- The document provides supplemental historical data on delinquency experience and net charge-offs for Enova’s U.S. term loans and lines of credit, covering multiple periods ending December 31, with detailed net charge-off rates and unpaid principal balances.
- It details delinquency measures based on missed payment factors (ranging across 1-14, 15-29, 30-44, 45-59, and 60+ parameters) to assess loan performance for different scheduled payment frequencies.
- The report is issued as part of supplemental data shared during discussions with qualified third parties regarding a proposed private note offering, and it distinguishes itself from prior published loan performance information.
- Full Year 2024: Record revenue of $2.7B, net income of $209M (EPS $7.43), with adjusted EPS rising 34% .
- Q4 2024: Revenue reached $730M (up 25% YoY), with net income of $64M and diluted EPS of $2.30 .
- 2025 Guidance: Q1 revenue is expected to be flat to slightly higher, with full-year originations projected to increase by ~15% .
- Segment Performance: SMB revenue of $286M (up 36% YoY) and consumer revenue of $434M (up 19% YoY) drove record originations of $1.7B .
- Share Repurchase & Liquidity: Completed $51M repurchase with about $200M remaining under the $300M authorization; supported by a portfolio expansion to nearly $4B and liquidity at $1.3B at year-end .
- Risk Metrics: Ending receivables at $4.0B with an 80 bps reduction in net charge-off ratio, reflecting improved risk metrics .