Enova International reported second quarter 2026 financial results, with total revenue rising 22 percent year over year to $929 million and net income increasing 38 percent to $105 million, or $4 per diluted share. Adjusted earnings per share rose 33 percent to $4.31, marking the company’s eighth consecutive quarter of year-over-year adjusted earnings per share growth of 30 percent or more. Total company combined loans and finance receivables increased 28 percent from the prior-year quarter to a record $5.5 billion, with total company originations of $2.3 billion during the quarter.
The company’s net revenue margin improved to 61 percent from 58 percent a year earlier, which Enova attributed to continued solid credit performance. The consolidated net charge-off ratio decreased to 7.3 percent, while the 30-plus day delinquency ratio remained sequentially stable. Adjusted EBITDA rose 26 percent to $256 million. Enova reported total liquidity, including cash, marketable securities, and available capacity on credit facilities, of $929 million as of June 30. During the quarter, the company repurchased $19 million of common stock under its share repurchase program.
Enova also addressed the status of its planned acquisition of Grasshopper Bank, saying it remains in constructive dialogue with regulators as they continue their application review process and that it expects to close the transaction later this year. The company said it recorded $1.5 million in transaction-related costs associated with the Grasshopper acquisition during the second quarter, following $2.7 million in the first quarter. Citing its second quarter performance, Enova said it is raising its outlook for the full year. Enova has provided more than $72 billion in loans and financing to more than 15 million customers over more than 20 years, using machine learning algorithms and proprietary analytics technology to serve small businesses and consumers underserved by traditional banks.
KEY QUOTES:
“Healthy originations growth and strong credit performance drove our eighth consecutive quarter of year-over-year adjusted EPS growth of 30% or more. We are excited to build upon our proven capabilities with the planned acquisition of Grasshopper Bank. We remain in a constructive dialogue with regulators as they continue their application review process, and we look forward to closing later this year to begin immediately delivering on the significant transaction synergies.”
Steve Cunningham, CEO, Enova International
“Our second quarter results exceeded our expectations on both the top and bottom line and reflect the strength of our talented team, diversified product offerings, scalable operating model and world-class risk management capabilities. Based on what we are seeing today we’re raising our outlook for the year and we remain focused on continuing to generate sustainable and profitable growth while delivering on our commitment to driving long-term shareholder value and on our mission of helping hardworking people get access to fast, trustworthy credit.”
Scott Cornelis, CFO, Enova International
