Oportun urges stockholders to vote for CEO and director nominees

Published 12/06/2025, 13:14
Oportun urges stockholders to vote for CEO and director nominees

SAN CARLOS, Calif. - Financial services company Oportun (NASDAQ:OPRT), currently valued at $324.64 million, issued a letter to stockholders Thursday from Lead Independent Director Neil Williams urging support for the company’s board nominees ahead of its 2025 annual meeting. According to InvestingPro data, the company’s stock has delivered an impressive 140% return over the past year.

The letter responds to efforts by stockholder Findell Capital to remove CEO Raul Vazquez from the board. Williams, who plans to retire at the upcoming meeting, defended the board’s actions to improve financial performance.

According to the letter, Oportun implemented a cost-reduction plan in February 2023, nearly two months before becoming aware of Findell Capital as a stockholder. The company has since executed workforce reductions, eliminated expenses, sold its credit card portfolio, and discontinued non-core businesses.

These measures have resulted in $240 million in cost savings since mid-2022, with Oportun returning to GAAP profitability over the last two quarters, according to the company. InvestingPro analysis reveals the company maintains strong liquidity with a current ratio of 10.91, and analysts expect continued profitability growth this year. Get access to 10+ additional exclusive ProTips and comprehensive financial metrics with InvestingPro’s detailed research report.

Williams emphasized that the board acted independently of Findell Capital in developing the transformation plan. He highlighted the qualifications of current board members, including Vazquez, who has served as CEO for over a decade, growing the company’s loan portfolio from $100 million in 2012 to approximately $3 billion today. The company currently generates annual revenue of $746.1 million, demonstrating significant scale despite recent market challenges.

The board is reducing its size from 10 to eight directors, with Williams and another director not seeking reelection.

Oportun is asking stockholders to vote for its two nominees - CEO Raul Vazquez and Carlos Minetti - on the green proxy card at the upcoming annual meeting.

The statement was based on a press release issued by the company.

In other recent news, Oportun Financial Corporation reported a strong performance in its Q1 2025 earnings, significantly surpassing market expectations. The company achieved an earnings per share (EPS) of $0.40, well above the forecasted $0.05, and reported revenue of $235.9 million, exceeding the anticipated $228.66 million. This robust performance underscores Oportun’s effective cost management and strategic focus on secured personal loans, which saw a 59% year-over-year growth. Additionally, the company reduced its operating expenses by 15% year-over-year, demonstrating its commitment to efficiency amid challenging macroeconomic conditions.

Oportun is projecting an adjusted EPS growth of 53% to 81% for 2025, reflecting confidence in its financial strategies. Meanwhile, Findell Capital Management, a significant shareholder, is advocating for changes to Oportun’s board of directors, pushing for the election of its candidate, Warren Wilcox, and the reelection of Carlos Minetti, while opposing CEO Raul Vazquez’s continued board service. Findell’s actions are part of a strategy to influence Oportun’s strategic direction.

In terms of analyst coverage, JMP has maintained a Market Perform rating for Oportun Financial, acknowledging the company’s streamlined operations and focus on core lending products. JMP noted the company’s successful exit from unprofitable ventures and positive credit performance, highlighting that recent loans now constitute 96% of the loan portfolio. These developments indicate Oportun’s ongoing efforts to enhance its financial health and strategic execution.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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