“We are pleased to report another quarter of healthy growth and credit as originations, receivables, revenue and adjusted [earnings per share] all grew 25% or more year over year,” Cunningham said.
Enova’s originations rose 31%; total company combined loans and finance receivables, 30%; revenue, 26%; and adjusted earnings per share, 33%, compared to the third quarter of 2025, according to a Thursday press release.
Over the same period, Enova’s consolidated net charge-off ratio decreased to 8.1%, down from 8.5.%, signaling continued strength in credit performance, per the release.
Enova’s originations growth was strong across both consumer and small business, Cunningham said during the call.
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At the end of the quarter, Enova’s consolidated portfolio had reached $5.9 billion, a figure that was 30% higher than a year ago. Small business products account for 68% of the portfolio and consumer products, 32%, Cunningham said.
“Our results for the third quarter reflect a resilient macroeconomic environment, despite ongoing concerns about inflation and potential impacts on future interest rates and economic growth,” Cunningham said.
Enova expects to close 2026 with strong fourth quarter financial results, Cunningham said.
“As we’ve moved into the fourth quarter, we continue to see stable growth and credit across both our consumer and [small and medium-sized business] businesses,” Cunningham said.
Enova announced during the third quarter, on Sept. 14, that it withdrew its bank regulatory applications related to its proposed acquisition of Grasshopper Bancorp. Enova had announced in December 2025 that it planned to acquire that company and its wholly owned subsidiary Grasshopper Bank for $369 million.
When announcing Enova’s withdrawal of its applications in September, Cunningham said in a press release that the company determined that this was the best decision for it and its shareholders, and that bank regulatory guidelines have not kept pace with the realities of meeting the credit needs of consumers and small businesses who are underserved by traditional banks.
During Thursday’s earnings call, Cunningham said the withdrawal of the applications did not diminish Enova’s ability to grow and generate profits.
“In fact, our planning over the past year brought to light new product, operational and risk management insights that will support meaningful long-term growth by defending and extending our competitive positions and allowing us to leverage our technology and analytics capabilities to continue to take share in existing markets and thoughtfully expand into adjacent markets, either directly or with partners,” Cunningham said.
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