Following actions taken to right size its cost structure and improve credit performance, we see an extended runway for earnings growth as OPRT returns to growth in aggregate loan originations. Despite elevated repayments impacting the portfolio, we raise our 2025 EPS estimate following strong 1H:25 performance and forecasted declines in expenses. OPRT increased 2025 EPS guidance to a range of $1.20-$1.40 (from $1.10-$1.30), up 8% at the midpoint. The company simultaneously narrowed 2025 revenue guidance to a range of $945-$960 million (from $945-$970 million) as repayment activity has exceeded expectations. Our estimates call for GAAP EPS of $0.70 in 2025 and adjusted (for fair value of asset backed securities) EPS of $0.92. Excluding additional company directed non-recurring charges, our 2025 EPS forecast is $1.28, within the guidance range. OPRT generated a third consecutive quarter of GAAP profitability equal to $0.14 per share in 2Q:25 due to improved credit performance and lower expenses. OPRT continues to meaningfully improve the balance sheet, with leverage down to 7.3x at 2Q:25 from 7.9x at 2Q:24. The 2Q:25 ABS transaction was completed at a significantly lower cost of capital compared to 1Q:25 while earning the company's first AAA rating on the most senior bonds. We maintain our $10 price target, based on an 8x applied multiple to our 2026 adjusted EPS estimate of $1.27. Our moderate risk rating reflects the economic sensitivity of OPRT's borrowing cohort and their credit products.