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Enova Tops $1 Billion Quarterly Revenue as Online Lending Surges

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Enova Tops $1 Billion Quarterly Revenue as Online Lending Surges

Online lender Enova saw its revenue exceed $1 billion during a quarter for the first time in its history in the third quarter, with strong growth across its portfolio, CEO Steve Cunningham said Thursday (Oct. 22) during an earnings call.

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“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.


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