10-Q · July 23, 2026
Enova delivered strong Q2 growth, with revenue up 21.6% YoY to $928.927 million, GAAP diluted EPS up to $4.00 from $2.86, and operating income up 28.8% to $237.147 million. Growth was led by small business, where…
Earnings analysis · 10-Q
ENVA earnings analysis
Filed October 22, 2026 · Our reading of the company's report
The latest report
Enova reported $1.009 billion of revenue and $4.06 of GAAP diluted EPS for the quarter; adjusted EPS of $4.48 exceeded the $4.36 consensus estimate. Revenue increased from $568 million in the prior quarter and $461…
Read full summary
Enova reported $1.009 billion of revenue and $4.06 of GAAP diluted EPS for the quarter; adjusted EPS of $4.48 exceeded the $4.36 consensus estimate. Revenue increased from $568 million in the prior quarter and $461 million in the prior-year quarter, although the provided 10-Q excerpt does not include current-quarter gross margin, operating margin, free cash flow or segment detail. The main negative development is the October 16, 2026 termination of the Grasshopper merger, which leaves the company's bank-charter strategy and previously anticipated transaction benefits uncertain.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $4.06
What stood out
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Revenue and adjusted EPS beat estimates
Revenue was $1.009 billion, up from $568 million in 2026 Q2 and $461 million in 2025 Q3. GAAP diluted EPS was $4.06; adjusted EPS was $4.48, exceeding the $4.36 consensus estimate.
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Share repurchases continued
The company repurchased 243,661 shares during the quarter at an average price of $189.93, including 243,270 shares under the announced repurchase program.
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$302.4 million buyback capacity remains
As of September 30, 2026, $302.393 million remained available under the $400.0 million repurchase authorization that runs through June 30, 2027.
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Disclosure controls remain effective
Management concluded that disclosure controls were effective as of September 30, 2026, providing reasonable assurance over required reporting and communication to management.
What to watch
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Grasshopper merger termination
The Grasshopper merger was mutually terminated on October 16, 2026, after the company withdrew related regulatory applications on September 14, 2026. The filing states this may negatively affect share price, the business and financial results.
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Bank-charter strategy remains uncertain
The company said it incurred substantial transaction expenses but will not realize the anticipated merger benefits. It also stated that it may not successfully obtain a bank charter or bank functionality through an alternative path or complete another transaction.
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Capital allocation flexibility risk
The company repurchased 243,661 shares during the quarter while retaining $302.393 million under the authorization; the filing says repurchases are subject to market conditions and may be terminated, increased or decreased at the Board's discretion.
Management's outlook
No numeric forward guidance was provided. The 10-Q states that the Grasshopper merger was mutually terminated on October 16, 2026, and that regulatory applications were withdrawn on September 14, 2026; no quantitative replacement outlook was disclosed.
Earlier filings 2
10-Q · April 23, 2026
Enova reported Q1 revenue of $875.142 million, up $129.6 million or 17.4% year-over-year, with net revenue of $528.959 million. Income from operations rose $35.2 million (20.5%) to $207.106 million and GAAP diluted EPS…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.