Acquisition (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Total Consideration

	December 31,
(in thousands)	2021
Fair value of Oportun common stock issued to Digit stockholders(1)	$	73,181
Cash paid to common and preferred stockholders, warrant holders, and vested option holders(2)	132,151
Total purchase consideration (3)	$	205,332

(1) The fair value is based on 3,522,182 shares of Company common stock at $20.72 per share, which represents the mid-point of the trading price of Oportun shares on December 22, 2021. The mid-point was used because the transaction closed during the trading day. $0.2 million relates to replacement restricted stock units awarded to Digit unvested option holders.

(2) $1.3 million of the cash paid is being held in escrow as security for purpose of securing any amounts payable by the selling parties on account of indemnification obligations, purchase price adjustments, and other amounts payable under the merger agreement.

(3) The total consideration as reported herein differs from the amounts previously disclosed due to changes in the underlying value of the stock between the date of the definitive agreement and the closing of the acquisition. The number of shares of Company common stock comprising the stock portion of the consideration was determined using the stock price as of the signing of the definitive agreement.

Schedule of Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date:

	December 22,
(in thousands)	2021
Goodwill	$	104,014
Acquired intangible assets	35,300
Developed technology	48,500
Cash and cash equivalents	20,499
Other assets acquired and liabilities assumed, net	(2,981)
Total purchase consideration	$	205,332

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The table below summarizes the acquired intangible assets and developed technology, with estimated useful lives, as of the acquisition date:

	Estimated fair values (in thousands)		Estimated useful life (years)
Member relationships	$	34,500	7.0
Trade name	800		3.0
Developed technology	48,500		7.0
Total acquired intangibles and developed technology	$	83,800

Schedule of Pro Forma Operational Results

	December 31,
(in thousands)	2021		2020
Total revenues	$	666,158	$	623,973
Net income (loss) attributable to shareholders	$	33,971	$	(99,109)