The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Moshe Orenbuch - TD Cowen - Analyst
: Great. Thanks, David Steve, could you talk a little bit about kind of the competitive environment in both consumer and small business and how
you're seeing it any changes? It Feels like some lenders are coming back on the consumer side. I'm not sure if that's in your market or around it. If
you could just give us a little bit there.
David Fisher - Enova International Inchara of the Board, Chief Executive Officer
Yeah, sure. Yes, I think as you can see from the very strong origination growth in Q4 that there certainly hasn't been any negative impacts from
competition. And as I mentioned in my prepared remarks, we've also had a very strong start to Q1 with January originations.
You do see people kind of poking in and out, both on the consumer side and small business side, but they tend to be smaller, the impacts tend to
be small and they tend, they tend to be fleeting. We've not seen kind of a sustained competitive push on either the consumer small business side
and in a very, very long time. And again, I think evidence, by your ability to take, really significant volume in Q4, kind of shows that to be the case.
Question: Moshe Orenbuch - TD Cowen - Analyst
: Great. Thanks so much.
Question: John Hecht - Jefferies LLC - Analyst
: Afternoon guys. Thanks for taking the questions. Congratulations on another strong year of growth. First question is just, because maybe we haven't
talked about this as much as kind of recently is the mix of new and recurring customers in both portfolios, the small, small business portfolio and
the consumer portfolio.
And I know sometimes you've given updates and sometimes you don't, but I'm wondering has that generally over the past year, has that shifted
and as you look to 2025 where do you see the better opportunity to contribute to growth? Is it lean into new customers or to harvest the call it the
recurring customer?
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FEBRUARY 04, 2025 / 10:00PM, ENVA.N - Q4 2024 Enova International Inc Earnings Call
Question: John Hecht - Jefferies LLC - Analyst
: Okay. And then second question is, Steve, you mentioned some cost of capital savings this year and I think that's in spite of I guess assuming is it
no rate cuts or just one rate cut? And then beyond that maybe remind us of the sensitivity around rates maybe so for each extra 25 basis point rate
reduction, what would that present to potential EPS upside as it's settled in?
Question: John Hecht - Jefferies LLC - Analyst
: Okay. Super helpful. Thanks very much.
Question: Moshe Orenbuch - TD Cowen - Analyst
: Okay, great. That's very helpful. Thank you.
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