Enova Reports Record Quarterly Revenue Exceeding $1 Billion in Q3 2026
Enova (ENVA) achieved a significant financial milestone in its third quarter of 2026, reporting quarterly revenue of over $1 billion for the first time. This growth was driven by a 31% year-over-year increase in new loan originations, which reached $2.6 billion. The company demonstrated strong operational leverage as top-line growth outpaced expenses across its consumer and small business lending segments. Despite expanding loan balances, Enova reported improving credit metrics, with the consolidated net charge-off ratio declining to 8.1% from 8.5% in the prior year. Additionally, management confirmed a strategic pivot by withdrawing its application for a banking license, opting instead to focus on its direct lending model and distribution partnerships. The company remains focused on leveraging proprietary risk analytics to maintain growth and shareholder value.
Tickers: $ENVA
Topics: banking license withdrawal credit metrics loan originations revenue growth
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