Enova International

Enova International (NYSE: ENVA) is a leading financial technology company headquartered in Chicago that provides online financial services through its machine learning-powered platform. Founded in 2004 and listed on the New York Stock Exchange in 2014, Enova serves non-prime consumers and small businesses with fast, trustworthy credit options. The company reported total revenue of USD 2.1 billion for the full year 2023, a 22% increase from 2022.

Enova's main products and services include:

• Consumer loans and lines of credit offered through brands like CashNetUS and NetCredit

• Small business loans and financing

• Analytics and decision-making technology for traditional banks and financial institutions

Enova uses advanced machine learning algorithms and world-class analytics to power its lending decisions and risk management. As of March 2024, the company had provided over USD 55 billion in loans and financing to more than 10 million customers.

In the second quarter of 2024, Enova reported strong results with total revenue increasing 26% year-over-year to USD 628 million. The company's combined loans and finance receivables reached a record USD 3.6 billion, up 25% from the prior year. Enova maintains a solid balance sheet with USD 891 million in liquidity as of June 30, 2024. The company has been actively repurchasing shares, buying back approximately USD 62 million of common stock in Q2 2024 under its share repurchase program as it aims to drive long-term shareholder value.