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OppFi Reports Second Quarter 2026 Results, Record Second Quarter Revenue

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3 months ago

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Total revenue increased 1.9% year over year to $145.2 million, a Company record for any second quarter

Net income increased 36.0% year over year to $15.6 million

CHICAGO, Aug. 10, 2026 /PRNewswire/ — OppFi Inc. (NYSE: OPFI) (“OppFi” or the “Company”), a tech-enabled digital finance platform that partners with banks to offer financial products and services to everyday Americans, today reported financial results for the second quarter ended June 30, 2026.

“The strategic transformation of OppFi continues to gain momentum as we execute against the initiatives that lay the foundation for our next chapter,” said Todd Schwartz, CEO and Executive Chairman. “As we advance our pending acquisition of BNCCORP, Inc. and BNC National Bank, prepare the launch of our new line of credit product, and further expand our product roadmap, we are building a more diversified, technology-enabled financial platform. We believe a broader product suite, enhanced technology capabilities, and the strategic benefits of operating as a national bank will strengthen our long-term earnings power, drive more consistent performance across economic cycles, and position OppFi to create substantial long-term value for customers, communities, and shareholders.”

Financial Summary

The following tables present a summary of OppFi’s results for the three and six months ended June 30, 2026 and 2025 (in thousands, except per share data). Certain columns and rows may not sum due to the use of rounded numbers for disclosure purposes. Percentages presented are calculated from the underlying whole-dollar amounts.

Three Months Ended June 30,

Change

(Unaudited)

2026

2025

%

Total revenue(1)

$        145,170

$        142,443

1.9 %

Net income

$          15,612

$          11,480

36.0 %

Net income (loss) attributable to OppFi Inc.

$          14,842

$         (20,780)

NM(4)

Adjusted net income(2)

$          28,760

$          39,401

(27.0) %

Basic EPS

$              0.22

$             (0.78)

NM

Diluted EPS(3)

$              0.18

$             (0.78)

NM

Adjusted EPS(2,3)

$              0.33

$              0.45

(25.0) %

(1) Total revenue is calculated as the sum of interest on finance receivables and other revenue.

(2) Adjusted Net Income and Adjusted EPS are non-GAAP financial measures. See “Reconciliation of Non-GAAP Financial Measures” below
for a detailed description and reconciliation of such non-GAAP financial measures to their most directly comparable GAAP financial measures.

(3) Diluted EPS calculated on a GAAP basis excludes dilutive securities, including Class V Voting Stock, restricted stock units, performance
stock units, and stock options in any periods in which their inclusion would have an antidilutive effect.

(4) “NM” signifies a non-meaningful comparison.

 

Six Months Ended June 30,

Change

(Unaudited)

2026

2025

%

Total revenue(1)

$        297,051

$        282,711

5.1 %

Net income

$          69,650

$          31,870

118.5 %

Net income (loss) attributable to OppFi Inc.

$          43,243

$         (32,152)

NM(4)

Adjusted net income(2)

$          58,805

$          73,219

(19.7) %

Basic EPS

$              0.91

$             (1.28)

NM

Diluted EPS(3)

$              0.74

$             (1.28)

NM

Adjusted EPS(2,3)

$              0.68

$              0.83

(17.7) %

(1) Total revenue is calculated as the sum of interest on finance receivables and other revenue.

(2) Adjusted Net Income and Adjusted EPS are non-GAAP financial measures. See “Reconciliation of Non-GAAP Financial Measures” below
for a detailed description and reconciliation of such non-GAAP financial measures to their most directly comparable GAAP financial measures.

(3) Diluted EPS calculated on a GAAP basis excludes dilutive securities, including Class V Voting Stock, restricted stock units, performance
stock units, and stock options in any periods in which their inclusion would have an antidilutive effect.

(4) “NM” signifies a non-meaningful comparison.

Key Performance Metrics

The following tables represent key quarterly metrics as of and for the three and six months ended June 30, 2026 and 2025 (in thousands, except percentage metrics).

Three Months Ended June 30,

Change

(Unaudited)

2026

2025

%

Total net originations(a)

$      212,038

$      233,873

(9.3) %

Total retained net originations(a)

$      176,761

$      205,706

(14.1) %

Ending receivables(b)

$      440,065

$      437,750

0.5 %

Net charge-offs as % of total revenue(c)

39.5 %

31.9 %

23.7 %

Net charge-offs as % of average receivables, annualized(c)

52.3 %

43.5 %

20.4 %

Average yield, annualized(d)

132.4 %

136.1 %

(2.7) %

Auto-approval rate(e)

81.2 %

79.7 %

1.8 %

(a) Total net originations are defined as gross originations net of transferred balance on refinanced loans, while total retained net originations are
defined as the portion of total net originations with respect to which the Company ultimately purchased a receivable from bank partners.

(b) Ending receivables are defined as the unpaid principal balances of loans at the end of the reporting period.

(c) Net charge-offs as a percentage of total revenue and net charge-offs as a percentage of average receivables represent total charge-offs from
the period less recoveries as a percentage of total revenue and as a percentage of average receivables. Net charge-offs as a percentage of average
receivables is presented as an annualized metric. Finance receivables are charged off at the earlier of the time when accounts reach 90 days past
due on a recency basis, when OppFi receives notification of a customer bankruptcy or is otherwise deemed uncollectible.

(d) Average yield is defined as total revenue from the period as a percent of average receivables and is presented as an annualized metric.

(e) Auto-approval rate is calculated by taking the number of approved loans that are not decisioned by a loan processor or underwriter (auto-
approval) divided by the total number of loans approved.

 

Six Months Ended June 30,

Change

(Unaudited)

2026

2025

%

Total net originations(a)

$      388,012

$      423,041

(8.3) %

Total retained net originations(a)

$      328,211

$      374,669

(12.4) %

Ending receivables(b)

$      440,065

$      437,750

0.5 %

Net charge-offs as % of total revenue(c)

41.0 %

33.3 %

23.3 %

Net charge-offs as % of average receivables, annualized(c)

53.8 %

45.0 %

19.5 %

Average yield, annualized(d)

131.1 %

135.3 %

(3.2) %

Auto-approval rate(e)

80.2 %

76.5 %

5.0 %

(a) Total net originations are defined as gross originations net of transferred balance on refinanced loans, while total retained net originations are
defined as the portion of total net originations with respect to which the Company ultimately purchased a receivable from bank partners.

(b) Ending receivables are defined as the unpaid principal balances of loans at the end of the reporting period.

(c) Net charge-offs as a percentage of total revenue and net charge-offs as a percentage of average receivables represent total charge-offs from
the period less recoveries as a percentage of total revenue and as a percentage of average receivables. Net charge-offs as a percentage of average
receivables is presented as an annualized metric. Finance receivables are charged off at the earlier of the time when accounts reach 90 days past
due on a recency basis, when OppFi receives notification of a customer bankruptcy or is otherwise deemed uncollectible.

(d) Average yield is defined as total revenue from the period as a percent of average receivables and is presented as an annualized metric.

(e) Auto-approval rate is calculated by taking the number of approved loans that are not decisioned by a loan processor or underwriter (auto-
approval) divided by the total number of loans approved.

Share Repurchase Program

During the six months ended June 30, 2026, OppFi repurchased $11.2 million of its Class A common stock at an average purchase price of $9.46 per share. During the second quarter, the Company initiated repurchases under the $40 million share repurchase program authorized by its Board of Directors on May 6, 2026.

Full Year 2026 Guidance Update

OppFi is updating its full year 2026 guidance as follows:

Total revenue between $600 million and $625 millionAdjusted net income1 between $115 million and $130 million; andAdjusted EPS1 between $1.34 and $1.51, based on approximate weighted average diluted share count of 86 million shares

(1) Non-GAAP Financial Measures: Adjusted Net Income and Adjusted EPS are non-GAAP financial measures. See “Reconciliation of Non-GAAP Financial Measures” below for a detailed description and reconciliation of such non-GAAP financial measures to their most directly comparable GAAP financial measures.  A reconciliation of projected full year 2026 Adjusted Net Income and Adjusted EPS to the most directly comparable GAAP financial measures is not included in this press release because, without unreasonable efforts, the Company is unable to predict with reasonable certainty the amount or timing of non-GAAP adjustments that are used to calculate these measures.

Conference Call

Management will host a conference call today at 5:00 p.m. ET to discuss OppFi’s financial results and business outlook. The webcast of the conference call will be made available on the Investor Relations page of the Company’s website.

The conference call can also be accessed with the following dial-in information:

Domestic: (833) 419-0865International: (785) 838-9333Conference ID: OPPFI

An archived version of the webcast will be available on OppFi’s website.

About OppFi

OppFi (NYSE: OPFI) is a tech-enabled digital finance platform that partners with banks to offer financial products and services to everyday Americans. Through this transparent and responsible platform, which emphasizes financial inclusion and exceptional customer experience, the Company assists consumers who are underserved by traditional financing options in building improved financial health. OppLoans by OppFi maintains a 4.4/5.0 star rating on Trustpilot based on over 5,600 reviews, positioning the Company among the top consumer-rated financial platforms online. OppFi also holds a 35% equity interest in Bitty Holdings, LLC (“Bitty”), a credit access company that provides revenue-based financing and other working capital solutions to small businesses. For additional information, please visit oppfi.com.

Important Additional Information and Where to Find It

In connection with the proposed transaction between OppFi and BNCCORP, Inc. (“BNCC”), OppFi has filed with the U.S. Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4 (File No. 333-297733) (the “registration statement”), which includes a proxy statement of BNCC and a prospectus of OppFi (the “proxy statement/prospectus”), and OppFi may file with the SEC other relevant documents regarding the proposed transaction. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT AND THE PROXY STATEMENT/PROSPECTUS CAREFULLY AND IN THEIR ENTIRETY AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC BY OPPFI, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT OPPFI, BNCC, BNC NATIONAL BANK AND THE PROPOSED TRANSACTION. A definitive copy of the proxy statement/prospectus has been mailed to stockholders of BNCC. Investors and security holders will be able to obtain the registration statement and the proxy statement/prospectus, as well as other filings containing information about OppFi, free of charge from OppFi or from the SEC’s website. The documents filed by OppFi with the SEC may be obtained free of charge at OppFi’s website, at https://investors.oppfi.com/financials/sec-filings/default.aspx, or by requesting them by mail at 130 E. Randolph Street, Suite 3400, Chicago, IL 60601 or by email at corporate.secretary@oppfi.com.

Participants in a Solicitation

This communication is not a solicitation of a proxy from any security holder of BNCC or OppFi. However, OppFi, BNCC and certain of their respective directors and executive officers may be deemed to be participants in a solicitation of proxies from the stockholders of BNCC in respect of the proposed transaction. Information about OppFi’s directors and executive officers is available in its Annual Report on Form 10-K for the year ended December 31, 2025 and other documents filed by OppFi with the SEC. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is contained in the registration statement and in the proxy statement/prospectus and other relevant materials to be filed with the SEC. Free copies of these documents may be obtained as described in the preceding paragraph.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities of OppFi or a solicitation of any vote or approval with respect to the proposed transaction by OppFi or BNCC, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

Contacts:

Investor Relations:
investors@oppfi.com

Media Relations:
media@oppfi.com

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. OppFi’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “opportunity,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “possible,” “continue,” “positions,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, without limitation, OppFi’s expectations with respect to its full year 2026 guidance, the future performance of OppFi’s platform and underwriting models, the anticipated launch and performance of its new line of credit product, statements regarding OppFi’s proposed acquisition of BNCC, including the anticipated timing, structure, benefits and strategic rationale of the transaction, OppFi’s expectations with respect to the geographic expansion and product diversification that may come from the acquisition, and expectations for OppFi’s growth and future financial performance. These forward-looking statements are based on OppFi’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside OppFi’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to, the impact of general economic conditions, including economic slowdowns, inflation, interest rate changes, recessions, the impact of tariffs, and tightening of credit markets on OppFi’s business; the impact of challenging macroeconomic and marketplace conditions; the impact of stimulus or other government programs; risks related to the proposed acquisition of BNCC including the risk that the transactions may not be completed in a timely manner or at all, the failure to satisfy closing conditions or obtain required regulatory approvals, the impact of the transaction on OppFi’s governance structure, integration or execution challenges, and adverse reactions from customers or stockholders; whether OppFi will be successful in obtaining declaratory relief against the Commissioner of the Department of Financial Protection and Innovation for the State of California; whether OppFi will be subject to AB 539; whether OppFi’s bank partners will continue to lend in California and whether OppFi’s financing sources will continue to finance the purchase of participation rights in loans originated by OppFi’s bank partners in California; OppFi’s ability to scale and grow the Bitty business; the impact that events involving financial institutions or the financial services industry generally, such as actual concerns or events involving liquidity, defaults, or non-performance, may have on OppFi’s business; risks related to any material weakness in OppFi’s internal controls over financial reporting; the ability of OppFi to grow and manage growth profitably and retain its key employees; risks related to new products; risks related to evaluating and potentially consummating acquisitions; concentration risk; risks related to OppFi’s ability to comply with various covenants in its corporate and warehouse credit facilities; risks related to potential litigation; changes in applicable laws or regulations, including, but not limited to, impacts from the One Big Beautiful Bill Act; the possibility that OppFi may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties indicated from time to time in OppFi’s filings with the United States Securities and Exchange Commission, in particular, contained in the section captioned “Risk Factors.” OppFi cautions that the foregoing list of factors is not exclusive, and readers should not place undue reliance upon any forward-looking statements, which speak only as of the date made. OppFi does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

Non-GAAP Financial Measures

This press release includes certain non-GAAP financial measures that are unaudited and do not conform to GAAP, such as Adjusted EBT, Adjusted Net Income, and Adjusted EPS. Adjusted EBT is defined as Net Income, adjusted for (1) income tax expense; (2) change in fair value of warrant liabilities; (3) other adjustments, net; and (4) other income. Adjusted Net Income is defined as Adjusted EBT as defined above, adjusted for taxes assuming a tax rate for each period presented that reflects the U.S. federal statutory rate of 21% and a blended statutory rate for state income taxes, in order to allow for a comparison with other publicly traded companies. Adjusted EPS is defined as Adjusted Net Income as defined above, divided by weighted average diluted shares outstanding, which represents shares of both classes of common stock outstanding and includes the impact of dilutive securities, such as restricted stock units, performance stock units, and stock options. These non-GAAP financial measures have not been prepared in accordance with accounting principles generally accepted in the United States and may be different from non-GAAP financial measures used by other companies. OppFi believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends. These non-GAAP measures with comparable names should not be considered in isolation from, or as an alternative to, financial measures determined in accordance with GAAP. See “Reconciliation of Non-GAAP Financial Measures” below for reconciliations for OppFi’s non-GAAP financial measures to the most directly comparable GAAP financial measures.

Consolidated Statements of Operations

The following tables present consolidated statements of operations for the three and six months ended June 30, 2026 and 2025 (in thousands, except share and per share data). Certain columns and rows may not sum due to the use of rounded numbers for disclosure purposes. Percentages presented are calculated from the underlying whole-dollar amounts.

Three Months Ended June 30,

Change

(Unaudited)

2026

2025

$

%

Revenue:

Interest on finance receivables

$      143,726

$      141,144

$       2,582

1.8 %

Other revenue

1,444

1,299

145

11.2

145,170

142,443

2,727

1.9

Change in fair value of finance receivables

(58,999)

(42,197)

(16,802)

39.8

Net revenue

86,171

100,246

(14,075)

(14.0)

Expenses:

Salaries and employee benefits

16,294

17,754

(1,460)

(8.2)

Professional fees

13,613

4,792

8,821

184.1

Direct marketing costs

11,403

11,890

(487)

(4.1)

Interest expense and amortized debt issuance costs

8,125

9,639

(1,514)

(15.7)

Technology costs

3,525

3,382

143

4.2

Payment processing fees

1,634

1,527

107

7.0

Depreciation and amortization

1,509

1,502

7

0.5

Occupancy

987

1,030

(43)

(4.2)

General, administrative and other

4,726

3,922

804

20.5

Total expenses

61,816

55,438

6,378

11.5

Income from operations

24,355

44,808

(20,453)

(45.6)

Other income (expense):

Change in fair value of warrant liabilities

201

(33,304)

33,505

100.6

Income from equity method investment

813

1,121

(308)

(27.5)

Other income

87

79

8

10.1

Income before income taxes

25,456

12,704

12,752

100.4

Income tax expense

9,844

1,224

8,620

704.0

Net income

15,612

11,480

4,132

36.0

Less: net income attributable to noncontrolling interest

770

32,260

(31,490)

(97.6)

Net income (loss) attributable to OppFi Inc.

$        14,842

$       (20,780)

$     35,622

171.4 %

Earnings (loss) per common share attributable to OppFi Inc.:

Earnings (loss) per common share:

   Basic

$            0.22

$           (0.78)

   Diluted

$            0.18

$           (0.78)

Weighted average common shares outstanding:

   Basic

67,512,878

26,610,330

   Diluted

86,037,151

26,610,330

 

Six Months Ended June 30,

Change

(Unaudited)

2026

2025

$

%

Revenue:

Interest on finance receivables

$      294,252

$      280,262

$     13,990

5.0 %

Other revenue

2,799

2,449

350

14.3

297,051

282,711

14,340

5.1

Change in fair value of finance receivables

(123,582)

(91,655)

(31,927)

34.8

Net revenue

173,469

191,056

(17,587)

(9.2)

Expenses:

Salaries and employee benefits

30,548

31,532

(984)

(3.1)

Direct marketing costs

21,788

22,178

(390)

(1.8)

Professional fees

20,877

8,991

11,886

132.2

Interest expense and amortized debt issuance costs

16,635

19,886

(3,251)

(16.3)

Technology costs

6,854

6,343

511

8.1

Payment processing fees

3,292

3,157

135

4.3

Depreciation and amortization

2,100

3,262

(1,162)

(35.6)

Occupancy

1,858

2,069

(211)

(10.2)

General, administrative and other

9,800

6,338

3,462

54.6

Total expenses

113,752

103,756

9,996

9.6

Income from operations

59,717

87,300

(27,583)

(31.6)

Other income (expense):

Change in fair value of warrant liabilities

21,496

(54,911)

76,407

139.1

Income from equity method investment

1,933

2,197

(264)

(12.0)

Other income

319

159

160

100.6

Income before income taxes

83,465

34,745

48,720

140.2

Income tax expense

13,815

2,875

10,940

380.5

Net income

69,650

31,870

37,780

118.5

Less: net income attributable to noncontrolling interest

26,407

64,022

(37,615)

(58.8)

Net income (loss) attributable to OppFi Inc.

$        43,243

$       (32,152)

$     75,395

234.5 %

Earnings (loss) per common share attributable to OppFi Inc.:

Earnings (loss) per common share:

     Basic

$            0.91

$           (1.28)

     Diluted

$            0.74

$           (1.28)

Weighted average common shares outstanding:

     Basic

47,371,349

25,158,196

     Diluted

86,117,558

25,158,196

Condensed Consolidated Balance Sheets

The following table presents consolidated balance sheets as of June 30, 2026 and December 31, 2025 (in thousands). Certain columns and rows may not sum due to the use of rounded numbers for disclosure purposes. Percentages presented are calculated from the underlying whole-dollar amounts.

(Unaudited)

June 30,

December 31,

Change

2026

2025

$

%

Assets

Cash and restricted cash

$        91,846

$        93,263

$        (1,417)

(1.5) %

Finance receivables at fair value

496,306

546,236

(49,930)

(9.1)

Equity method investment

19,958

19,076

882

4.6

Other assets

162,619

95,515

67,104

70.3

Total assets

$      770,729

$      754,090

$       16,639

2.2 %

Liabilities and stockholders’ equity

Accounts payable and accrued expenses

$        44,231

$        46,171

$        (1,940)

(4.2) %

Total debt

276,453

321,353

(44,900)

(14.0)

Warrant liabilities

4,959

26,455

(21,496)

(81.3)

Other liabilities

30,831

51,235

(20,404)

(39.8)

Total liabilities

356,474

445,214

(88,740)

(19.9)

Total stockholders’ equity

414,255

308,876

105,379

34.1

Total liabilities and stockholders’ equity

$      770,729

$      754,090

$       16,639

2.2 %

Condensed Consolidated Statement of Cash Flows

The following table presents the consolidated statement of cash flows for the six months ended June 30, 2026 and 2025 (in thousands). Certain columns and rows may not sum due to the use of rounded numbers for disclosure purposes. Percentages presented are calculated from the underlying whole-dollar amounts.

Six Months Ended June 30,

Change

(Unaudited)

2026

2025

$

%

Net cash provided by operating activities

$     182,812

$      179,357

$        3,455

1.9 %

Net cash used in investing activities

(78,481)

(115,561)

37,080

(32.1)

Net cash used in financing activities

(105,748)

(73,819)

(31,929)

43.3

Net decrease in cash and restricted cash

$        (1,417)

$       (10,023)

$        8,606

(85.9) %

Financial Capacity and Capital Resources

As of June 30, 2026, OppFi had $64.3 million in unrestricted cash, an increase of $14.9 million from December 31, 2025. As of June 30, 2026, OppFi had an additional $173.5 million of unused debt capacity under its financing facilities for future availability, representing a 39% overall undrawn capacity, a decrease from $203.6 million as of December 31, 2025. The decrease in undrawn debt was driven primarily by the termination of the Gray Rock SPV LLC revolving line of credit. Including total financing commitments of $450.0 million and cash and restricted cash on the balance sheet of $91.8 million, OppFi had approximately $541.8 million in funding capacity as of June 30, 2026.

Reconciliation of Non-GAAP Financial Measures

The following tables present reconciliations of non-GAAP financial measures for the three and six months ended June 30, 2026 and 2025 (in thousands, except share and per share data). Certain columns and rows may not sum due to the use of rounded numbers for disclosure purposes. Percentages presented are calculated from the underlying whole-dollar amounts.

Adjusted EBT and Adjusted Net Income

Comparison of the three months ended June 30, 2026 and 2025

Three Months Ended June 30,

Change

(Unaudited)

2026

2025

$

%

Net income

$          15,612

$          11,480

$      4,132

36.0 %

Income tax expense

9,844

1,224

8,620

704.0

Other income

(87)

(79)

(8)

10.1

Change in fair value of warrant liabilities

(201)

33,304

(33,505)

(100.6)

Other adjustments, net(a)

12,659

5,542

7,117

128.4

Adjusted EBT

37,827

51,471

(13,644)

(26.5)

Less: pro forma taxes(b)

9,067

12,070

(3,003)

(24.9)

Adjusted net income

$          28,760

$          39,401

$   (10,641)

(27.0) %

Adjusted earnings per share

$              0.33

$              0.45

Weighted average diluted shares outstanding

86,037,151

88,419,961

(a) For the three months ended June 30, 2026, other adjustments, net of $12.7 million included $7.9 million in expenses related to the proposed transaction of BNCC (the “Transaction”) and the series of transactions which resulted in OppFi becoming the sole owner of OppFi-LLC and the termination of the Tax Receivable Agreement (collectively, the “Corporate Simplification”), $3.1 million in expenses related to stock compensation, $1.4 million in expenses related to severance, and $0.4 million in expenses related to legal matters. For the three months ended June 30, 2025, other adjustments, net of $5.5 million included $5.1 million in expenses related to stock compensation, $0.3 million in expenses related to severance, and $0.2 million in expenses related to legal matters. The sum of the individual components of other adjustments, net may not equal the total presented due to the use of rounded numbers for disclosure purposes.

(b) Assumes a tax rate of 23.97% for the three months ended June 30, 2026 and 23.45% for the three months ended June 30, 2025, reflecting the U.S. federal statutory rate of 21% and a blended statutory rate for state income taxes.

Comparison of the six months ended June 30, 2026 and 2025

Six Months Ended June 30,

Change

(Unaudited)

2026

2025

$

%

Net income

$         69,650

$          31,870

$    37,780

118.5 %

Income tax expense

13,815

2,875

10,940

380.5

Other income

(319)

(159)

(160)

100.6

Change in fair value of warrant liabilities

(21,496)

54,911

(76,407)

(139.1)

Other adjustments, net(a)

15,694

6,152

9,542

155.1

Adjusted EBT

77,344

95,649

(18,305)

(19.1)

Less: pro forma taxes(b)

18,539

22,430

(3,891)

(17.3)

Adjusted net income

$         58,805

$          73,219

$   (14,414)

(19.7) %

Adjusted earnings per share

$             0.68

$              0.83

Weighted average diluted shares outstanding

86,117,558

88,208,125

(a) For the six months ended June 30, 2026, other adjustments, net of $15.7 million included $8.9 million in expenses related to the Transaction and Corporate Simplification, $4.7 million in expenses related to stock compensation, $1.6 million in expenses related to severance, and $0.5 million in expenses related to legal matters. For the six months ended June 30, 2025, other adjustments, net of $6.2 million included $6.4 million in expenses related to stock compensation, $0.6 million in expenses related to severance, $0.5 million in expenses related to legal matters, and $0.2 million in expenses related to an adjustment to the Company’s outstanding lease obligations, partially offset by a $1.4 million addback related to the partial forgiveness of remaining expenses related to OppFi Card’s exit activities. The sum of the individual components of other adjustments, net may not equal the total presented due to the use of rounded numbers for disclosure purposes.

(b) Assumes a tax rate of 23.97% for the six months ended June 30, 2026 and 23.45% for the six months ended June 30, 2025, reflecting the U.S. federal statutory rate of 21% and a blended statutory rate for state income taxes.

Adjusted Earnings Per Share

Comparison of the three months ended June 30, 2026 and 2025

Three Months Ended June 30,

(Unaudited)

2026

2025

Weighted average Class A common stock outstanding

67,512,878

26,610,330

Weighted average Class V voting stock outstanding

17,857,291

60,251,993

Dilutive impact of restricted stock units

513,835

1,304,191

Dilutive impact of performance stock units

3,267

41,427

Dilutive impact of stock options

149,880

212,020

Weighted average diluted shares outstanding

86,037,151

88,419,961

 

Three Months Ended June 30,

(In thousands, except share and per share data)

2026

2025

(Unaudited)

$

Per Share

$

Per Share

Weighted average diluted shares outstanding

86,037,151

88,419,961

Net income

$      15,612

$         0.18

$      11,480

$         0.13

Income tax expense

9,844

0.11

1,224

0.01

Other income

(87)

—

(79)

—

Change in fair value of warrant liabilities

(201)

—

33,304

0.38

Other adjustments, net(a)

12,659

0.15

5,542

0.06

Adjusted EBT

37,827

0.44

51,471

0.58

Less: pro forma taxes(b)

9,067

0.11

12,070

0.14

Adjusted net income

$      28,760

$         0.33

$      39,401

$         0.45

(a) For the three months ended June 30, 2026, other adjustments, net of $12.7 million included $7.9 million in expenses related to the Transaction and Corporate Simplification, $3.1 million in expenses related to stock compensation, $1.4 million in expenses related to severance, and $0.4 million in expenses related to legal matters. For the three months ended June 30, 2025, other adjustments, net of $5.5 million included $5.1 million in expenses related to stock compensation, $0.3 million in expenses related to severance, and $0.2 million in expenses related to legal matters. The sum of the individual components of other adjustments, net may not equal the total presented due to the use of rounded numbers for disclosure purposes.

(b) Assumes a tax rate of 23.97% for the three months ended June 30, 2026 and 23.45% for the three months ended June 30, 2025, reflecting the U.S. federal statutory rate of 21% and a blended statutory rate for state income taxes.

Comparison of the six months ended June 30, 2026 and 2025

Six Months Ended June 30,

(Unaudited)

2026

2025

Weighted average Class A common stock outstanding

47,371,349

25,158,196

Weighted average Class V voting stock outstanding

38,051,607

61,470,613

Dilutive impact of restricted stock units

535,209

1,322,965

Dilutive impact of performance stock units

8,131

51,902

Dilutive impact of stock options

151,262

204,449

Weighted average diluted shares outstanding

86,117,558

88,208,125

 

Six Months Ended June 30,

(In thousands, except share and per share data)

2026

2025

(Unaudited)

$

Per Share

$

Per Share

Weighted average diluted shares outstanding

86,117,558

88,208,125

Net income

$      69,650

$         0.81

$      31,870

$         0.36

Income tax expense

13,815

0.16

2,875

0.03

Other income

(319)

—

(159)

—

Change in fair value of warrant liabilities

(21,496)

(0.25)

54,911

0.62

Other adjustments, net(a)

15,694

0.18

6,152

0.07

Adjusted EBT

77,344

0.90

95,649

1.08

Less: pro forma taxes(b)

18,539

0.22

22,430

0.25

Adjusted net income

$      58,805

$         0.68

$      73,219

$         0.83

(a) For the six months ended June 30, 2026, other adjustments, net of $15.7 million included $8.9 million in expenses related to the Transaction and Corporate Simplification, $4.7 million in expenses related to stock compensation, $1.6 million in expenses related to severance, and $0.5 million in expenses related to legal matters. For the six months ended June 30, 2025, other adjustments, net of $6.2 million included $6.4 million in expenses related to stock compensation, $0.6 million in expenses related to severance, $0.5 million in expenses related to legal matters, and $0.2 million in expenses related to an adjustment to the Company’s outstanding lease obligations, partially offset by a $1.4 million addback related to the partial forgiveness of remaining expenses related to OppFi Card’s exit activities. The sum of the individual components of other adjustments, net may not equal the total presented due to the use of rounded numbers for disclosure purposes.

(b) Assumes a tax rate of 23.97% for the six months ended June 30, 2026 and 23.45% for the six months ended June 30, 2025, reflecting the U.S. federal statutory rate of 21% and a blended statutory rate for state income taxes.

 

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SOURCE OppFi

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Technology

Medical Billing Outsourcing in 2027: Remitwright Publishes Guide on When Independent Practices Should Outsource Billing and When They Should Not

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23 minutes ago

on

November 12, 2026

By

As Medicare cuts rates and tightens claim rules for January 1, the New York medical billing company explains what top medical billing outsourcing arrangements have in common, what they cost compared with in-house staff, and the signs that a practice is not ready to outsource.

NEW YORK, Nov. 12, 2026 /PRNewswire-PRWeb/ — Remitwright (https://remitwright.com), a US medical billing company serving independent practices, non-emergency medical transportation (NEMT) providers and home care agencies, today published a plain-language guide to medical billing outsourcing for practice owners weighing the decision before the 2027 Medicare changes take effect.

Medical billing outsourcing means handing claim preparation, submission, payment posting and denial follow-up to an outside company rather than an in-house employee. It is one of the most searched questions in practice management and one of the least clearly answered, because most of the available information is written by companies selling the service.

“Outsourcing is the right call for a lot of practices and the wrong call for some, and a billing company should be willing to say which is which,” said Michael Wilson, Manager at Remitwright. “We would rather a practice read this, decide to keep billing in-house, and do it properly than sign with us for the wrong reasons.”

When medical billing outsourcing makes sense

The guide identifies four situations in which outsourced medical billing consistently outperforms an in-house arrangement:

1. One biller carries everything. In a practice where a single employee handles charge entry, claims, posting, denials and patient calls, every vacation, sick day or resignation stops cash flow. An outsourced team with assigned backup removes that single point of failure.

2. Denials are not being worked. If nobody can say how many claims were denied last month, why, and which were resubmitted, revenue is leaking. Dedicated denial management is the single largest difference between the top medical billing outsourcing arrangements and average ones.

3. The practice bills payers it does not understand. NEMT providers billing Medicaid brokers, home care agencies billing waiver programs and VA community care, and practices adding new specialties or states all face rulebooks that a generalist in-house biller rarely masters.

4. The owner is doing billing at night. When the clinician or owner is the one chasing claims after hours, the practice is paying its most expensive person to do its most repetitive task.

When it does not

The guide is equally direct about the opposite cases: a practice with a seasoned, well-supported billing team and clean key metrics has little to gain; a practice that wants to hand over billing and never look at it again will be disappointed by any vendor, because billing still depends on accurate documentation from the clinical side; and a practice that cannot name its monthly collections, denial rate and days in accounts receivable should measure those first, because without a baseline there is no way to judge whether outsourcing helped.

What to compare before signing

The guide lists the questions that separate top medical billing outsourcing companies from the rest: whether the practice gets a named, dedicated team or a shared pool; whether the company works inside the practice’s existing software or requires a switch; whether a sample weekly report is available before signing; how denials are categorized, resubmitted and appealed; whether pricing, contract length and exit terms are explained before the sales call; and whether a HIPAA business associate agreement is signed before any access is granted.

On cost

Medical billing outsourcing is typically priced as a percentage of collections, a flat monthly fee per dedicated biller, or a per-claim rate. The guide explains how each model works and which practice profiles each one favors, and notes that the right comparison is not the fee alone but the fee against the fully loaded cost of in-house staff, software, clearinghouse charges, training and turnover, plus the revenue currently lost to unworked denials and missed filing deadlines.

Why the timing matters

The Calendar Year 2027 Medicare Physician Fee Schedule lowers the conversion factor by 2.31% and replaces the G2211 add-on code with new modifiers effective January 1, 2027, while the 2027 Home Health final rule expands Medicare enrollment scrutiny for agencies. Both reward practices that submit clean claims and work every denial, and penalize those that do not.

“The 2027 rules don’t change whether a practice should outsource,” Wilson said. “They change the cost of getting billing wrong, whoever is doing it.”

Remitwright provides outsourced medical billing through a dedicated billing team assigned to each client. The team works remotely inside the client’s existing EHR, practice management or dispatch software and reports weekly on every open claim. Practices can request a billing review at https://remitwright.com. No patient information is required to get started.

About Remitwright

Remitwright is a US medical billing company serving independent medical practices, NEMT providers and home care agencies nationwide. Each client is assigned a dedicated billing team that works remotely within the client’s existing software and reports weekly on every open claim. Services include medical billing and coding, eligibility verification, prior authorization, claim submission, payment posting, denial management, accounts-receivable recovery, credentialing and payer enrollment, NEMT billing and home care billing. Learn more at https://remitwright.com.

Media Contact
Michael Wilson, Manager
Remitwright
sales@remitwright.com
https://remitwright.com

Media Contact

Michael Wilson, Remitwright, 1 5646652652, sales@remitwright.com, https://remitwright.com

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SOURCE Remitwright

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Gates Introduces Compact ThermalCool™ 2100SS Pump to Expand Data Center Portfolio

Published

23 minutes ago

on

November 12, 2026

By

4U-Compatible Design Delivers High Performance for AI and High-Density Computing Applications

DENVER, Nov. 12, 2026 /PRNewswire/ — Gates Industrial Corporation Ltd. (NYSE: GTES), a global manufacturer of highly engineered power transmission and fluid power solutions, today introduced Gates ThermalCool™ 2100SS Pump, expanding the company’s portfolio of liquid-cooling solutions for AI and high-density data center applications. The new stainless steel pump expands Gates participation across the data center cooling loop, adding a new, purpose-built active coolant circulation solution alongside its fluid conveyance and connection technologies.

Higher rack densities are changing where data center cooling equipment is located and how much space it can occupy. Rack-mounted coolant distribution units (CDUs) integrate coolant circulation within the IT rack, which puts tight size and integration demands on every component. Gates developed the ThermalCool 2100SS Pump to meet those demands, combining substantial output with a 4U-compatible design while combining substantial coolant flow with integrated active cooling for the motor. Delivered in a platform configurable for different CDU architectures, these capabilities position Gates to serve a wider range of data center coolant circulation applications including those with high ambient temperature operating conditions.

“As data centers pack more computing power into every rack, CDU manufacturers are facing infrastructure challenges that existing pumps weren’t designed for,” said Rebekah Headley, general manager of data centers at Gates. “We developed the ThermalCool 2100SS Pump in response to requirements from a leading CDU manufacturer, working as an engineering partner to address an emerging system need. That application-driven approach resulted in a configurable platform that takes the solution beyond the original application and into the broader data center cooling market.”

Key features of Gates ThermalCool 2100SS Pump:

High performance in a compact footprint: Up to 200 L/min flow at 3 bar in a 4U-compatible design.Self-cooling architecture: Built for enclosed CDUs with limited airflow or high ambient temperatures, the motor is uniquely designed to be electrically dry and actively liquid-cooled by the coolant the pump already circulates, with no separate cooling circuit or fan required.Engineered for data center reliability: Stainless steel construction, OCP-compliant wetted materials, IP55 protection and a rated 50,000-hour pump life support reliable, long-term operation.Flexible, scalable integration: Configurable connections and mounting options fit different CDU layouts, while parallel operation and N+1 redundancy let customers scale capacity and help protect uptime. CANBUS and MODBUS communication support integration with CDU monitoring and control systems.

The ThermalCool 2100SS Pump expands Gates’ capabilities across the data center cooling loop, complementing its portfolio of hoses, UQDs, fittings and engineered assemblies. Together, these technologies strengthen Gates’ ability to help customers engineer the fluid path from coolant circulation through rack-level connection and conveyance. The Gates ThermalCool 2100SS Pump is expected to be available globally in early 2027. For more information, to connect with a Gates engineer, or to request a sample, visit the Data Center Pumps Innovations page.

About Gates Industrial Corporation Ltd.
Gates is a global manufacturer of innovative, highly engineered power transmission and fluid power solutions. Gates offers a broad portfolio of products to diverse replacement channel customers, and to OEMs as specified components. Gates participates in many sectors of the industrial and consumer markets. Our products play essential roles in a diverse range of applications across a wide variety of end markets ranging from harsh and hazardous industries to everyday consumer applications, including virtually every form of transportation. Our products are sold in more than 130 countries across our three commercial regions: the Americas; Europe, Middle East & Africa; Asia-Pacific. For more information, visit gates.com.

Forward Looking Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. These statements include, but are not limited to, statements related to the Company’s expectations regarding its new ThermalCool 2100SS Pump. Such forward-looking statements are subject to various risks and uncertainties, including, among others, U.S. policies, actions or legislation (including the imposition of tariffs), economic, political and other risks associated with international operations (including as a result of the ongoing conflicts in the Middle East and their impact on supply chains, such as reduced availability of certain of our production materials and increased supply costs, and economic conditions), availability of raw materials or other manufacturing inputs at favorable prices in sufficient quantities, or at a given time, changes in our relationships with, or the financial condition, performance, purchasing power or inventory levels of, key channel partners, dependence on the continued operation of our manufacturing facilities, supply chains, distribution systems and information technology systems, our ability to forecast demand or meet significant increases in demand and market acceptance of new product introductions and innovations. Additional factors that could cause the Company’s results to differ materially from those described in the forward-looking statements can be found under the section entitled “Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and Quarterly Report on Form 10-Q for the quarter ended June 27, 2026, each as filed with the Securities and Exchange Commission, as such factors may be updated from time to time in the Company’s periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the Company’s filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

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SOURCE Gates Corporation

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EAST SIDE GAMES GROUP ANNOUNCES THIRD QUARTER 2026 RESULTS

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23 minutes ago

on

November 12, 2026

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VANCOUVER, BC, Nov. 12, 2026 /CNW/ — East Side Games Group (TSX: EAGR) (OTC: EAGRF) (“ESGG” or the “Company”), today reported its financial results for the third quarter ended Sept 30th, 2026.

Third Quarter 2026 Financial Highlights:

Revenue of $10.79M (down 46% YoY) including $2.2M from a development milestone payment from a platform partner. Excluding the milestone payment, revenue was $8.6M.Adjusted EBITDA (A-EBITDA) of $1.6M (up 153% YoY) Excluding the Milestone Payment A-EBITDA was $617k.A-EBITDA Margin of 14.8% (up 199% YoY) Margin of 7.2% excluding the Milestone Payment.DAU (Daily Active Users): 96,946 (down 57.3% YoY)ARPDAU (Average Revenue Per Daily Active User):  $0.97  (even YoY)DAU/MAU (stickiness rate):  29.4% (up 25.9% YoY)

Third Quarter 2026 Commentary:

The Company delivered A-EBITDA of $1.6M on revenue of $10.79M in the third quarter. Results include $2.2M in revenue from a development milestone payment from a platform partner related to an as yet unannounced title. Fully funded development work of this kind is a deliberate part of the Company’s strategy to monetize its studio capabilities, and the milestone payment reflects the quality of that work and the strength of the partner relationship. Milestone payments may recur as further milestones are achieved or new partnerships are secured, but their timing and size are tied to project progress rather than a regular schedule. The Company therefore also presents its results excluding the payment so that investors can evaluate the recurring business on its own terms.

Excluding the milestone payment, base business revenue was $8.6M, compared to $10.3M in the second quarter, reflecting User Acquisition spend that was constrained by capital and managed to a 30-60 day payback target through most of the quarter. As announced in August, the Company began increasing daily User Acquisition spend in mid-August, focused on its most profitable cohorts and highest-margin titles, and the rate of decline in the player base slowed through September. The material expansion of the program was dependent on the closing of the Company’s new credit facilities, which occurred in October. Since then, with spend increased further, churn has been largely offset and daily revenue is rising. Because each dollar is measured against a defined payback window, the cost of this investment is reflected in the quarter’s A-EBITDA while most of the revenue it generates falls in subsequent periods.

On September 1, the Company completed the cost reduction and operational restructuring initiatives announced on September 3, 2026, reducing headcount by approximately 32% and rationalizing its portfolio to concentrate resources on its highest-performing live titles. These actions are expected to generate approximately $3.5 million in annualized savings, the majority of which will begin to be realized in the fourth quarter, in addition to the approximately $4 million in annualized savings implemented earlier in 2026.

Following the portfolio rationalization, the Company has also begun investing in User Acquisition for its newer titles for the first time, and expects them to become a meaningful contributor to revenue and the primary catalyst for growth in the base business in 2027.

Corporate Update & Strategy: 

During Q3, The Company’s User Acquisition strategy targeted a 30-60 day return on ad spend. The Company’s current User Acquisition strategy targets a 60–90 day return on ad spend, allowing it to focus on acquiring the most profitable player cohorts while maintaining overall capital efficiency. While this disciplined spending approach has moderated near-term top-line revenue, it has improved capital efficiency and supports the Company’s long-term strategy of building a stronger, more profitable business.  Management remains focused on generating cash flow and reducing debt over time.

Subsequent to quarter end, the Company entered into new credit facilities with National Bank of Canada (“NBC”) and Export Development Canada (“EDC”) (together, the “New Facilities”), providing the flexibility to invest in high-return User Acquisition while continuing to strengthen the balance sheet. The New Facilities consist of: (i) a C$3 million revolving line of credit with NBC bearing interest at prime plus 1%, and up to C$3.5 million in term loans backed by tax credits bearing interest at prime plus 1.25% and maturing when the related tax credits are received; and (ii) a US$4 million term loan with EDC. Amounts available to be drawn from NBC are constrained by estimates of current-year tax credits (75% of accrual). The Company’s credit facility with Royal Bank of Canada (“RBC”) has been repaid in full.

Outlook:

Beginning in October, with the new credit facilities, the Company materially expanded its User Acquisition strategy by increasing daily spend with a focus on profitable cohorts in the highest-margin games. Each dollar spent is being closely measured and returned within short- to mid-term payback windows. This broader investment approach is expected to maintain revenue while maintaining a disciplined focus on long-term profitability.

With the New Facilities in place and the September restructuring complete, User Acquisition investment is now governed by cohort returns rather than cash availability, and the drag on top-line revenue from under-investment over the past year is coming to an end. Management’s priorities for the fourth quarter and into 2027 are to continue scaling User Acquisition where payback metrics support it, to bring the Company’s newer titles to a level of spend at which they contribute to revenue, and to continue pursuing fully funded development and platform partnership opportunities.

Through the continued use of AI tools, the Company has improved player targeting in its User Acquisition campaigns, accelerated iteration on advertising creative, and increased coding efficiency. New initiatives are being built with AI as a core tenet, with the expectation that they will be delivered on accelerated timelines and at materially lower cost. Investors should note that fourth quarter results will not include a milestone payment comparable to that recognized in Q3, and the Company’s Q4 revenue and A-EBITDA should be evaluated against the Q3 figures excluding the milestone payment presented above. The Company continues to pursue additional platform partnership and fully funded development opportunities, and will report any further milestone payments separately as they are earned.

Looking ahead, the Company remains focused on disciplined execution, strengthening its balance sheet, and driving sustainable, profitable growth through the remainder of 2026 and into 2027.

ABOUT EAST SIDE GAMES GROUP

ESGG is a leader in free-to-play mobile gaming, thrilling players with unforgettable experiences that spark lifelong fandom. Fueled by an entrepreneurial spirit, we are driven by creativity, flawless execution, and a laser-focused strategy. We develop and publish both original and licensed IP titles, license our cutting-edge GameKit(s) platforms, and strategically acquire studios or games to expand our family.

Headquartered in Vancouver with around 100 talent-dense team members, we operate over a dozen titles under East Side Games (“ESG”) and LDRLY (Technologies) Inc. (“LDRLY”). Together, we’re crafting, launching, and publishing mobile games across our own studios and an extended Game Kit partner network–reaching players on iOS and Android worldwide.

We power our success through in-app purchases (“IAP”)–offering exclusive, game-enhancing virtual items–and in-game advertising. To keep growing, we focus on captivating audiences, keeping them engaged, and unlocking exciting new ways to monetize. We’ll drive this momentum by launching bold new titles, enriching our current lineup, innovating discovery, expanding into fresh markets, and exploring new distribution platforms.

Additional information about the Company continues to be available under its legal name, East Side Games Group Inc., at www.sedar.com.

Forward-looking Information

Certain statements in this news release constitute forward-looking information or forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are often, but not always, identified by the use of words such as “expects,” “anticipates,” “plans,” “intends,” “believes,” “estimates,” “projects,” “may,” “will,” “would,” “could,” “should,” and similar expressions. Forward-looking statements in this news release include, without limitation, statements regarding the Company’s 2026 outlook, including expected revenue and A-EBITDA margin; expected debt reduction, profitability and EBITDA performance; anticipated benefits from cost reduction initiatives, user acquisition changes and off-platform payments; the expected impact of changes to platform fees; the Company’s ability to secure additional work-for-hire contracts or other fully funded development opportunities; and the status or outcome of discussions with RBC, including any tolerance, waiver or other accommodation in respect of covenant non-compliance. Forward-looking statements are based on management’s current expectations, estimates, projections and assumptions, including assumptions regarding operating performance, player engagement and monetization, platform policies and fee structures, the implementation and impact of restructuring initiatives, the timing and amount of one-time costs, the availability of new commercial opportunities, and the Company’s continued relationship with its lender. Such forward-looking statements are subject to significant risks, uncertainties and other factors that could cause actual results or events to differ materially from those expressed or implied by such statements, including, without limitation, risks relating to the Company’s ability to execute on its strategic priorities, generate sufficient cash flow, satisfy or obtain relief from financial covenant requirements, complete restructuring initiatives as planned, realize anticipated cost savings or profitability improvements, maintain or grow player engagement and monetization, benefit from platform fee or policy changes, secure new contracts or platform opportunities, and general economic, market and industry conditions. Readers are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

SOURCE East Side Games Group Inc.

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