Form 8-K - Current report

Share Name	Share Symbol	Market	Type
Enova International Inc	NYSE:ENVA	NYSE	Common Stock

	Price Change	% Change	Share Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	-0.15	-0.16%	96.32	97.29	95.29	95.79	239,469	22:35:38

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

DATE OF REPORT (Date of Earliest Event Reported):

September 17, 2024

ENOVA INTERNATIONAL, INC.

(Exact name of registrant as specified in its charter)

Delaware

1-35503

45-3190813

(State or other jurisdiction
of incorporation)

(Commission

File No.)

(IRS Employer
Identification No.)

175 West Jackson Boulevard

Chicago, Illinois 60604

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (312) 568-4200

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading

symbol(s)

Name of Exchange

of which registered

Common stock, par value $0.00001 per share

ENVA

NYSE

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 7.01

REGULATION FD DISCLOSURE

The information in this Current Report on Form 8-K, including, without limitation, Exhibit 99.1, is being furnished pursuant to Item 7.01 and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly provided by specific reference in such filing. Furthermore, this report will not be deemed an admission as to the materiality of any information in the report that is required to be disclosed solely by Regulation FD.

Proposed Private Notes Offering

Enova International, Inc. (the “Company”) is furnishing this report to provide information about a proposed private offering of $261,353,000 in aggregate principal amount of Series 2024-2 Fixed Rate Asset-Backed Notes (the “Offered Notes”) by its wholly-owned indirect subsidiary, OnDeck Asset Securitization IV, LLC (the “Issuer”), which will issue the Offered Notes. Collateral for the Offered Notes will consist of, among other things, a revolving pool of small business loans originated or purchased by ODK Capital, LLC, which is a wholly-owned indirect subsidiary of the Company (“OnDeck”). The Offered Notes may be issued in one or more classes. The Issuer will use the net proceeds of the proposed private offering to purchase small business loans from OnDeck that will be pledged as collateral for the Offered Notes. The Company will use the money it receives from the Issuer for general corporate purposes.

The exact terms and timing of the proposed offering will depend upon market conditions and other factors. The Issuer will be the sole obligor of the Offered Notes; the Offered Notes will not be obligations of, or guaranteed by, the Company or OnDeck.

The Offered Notes will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from, or a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Offered Notes are being offered only to qualified institutional buyers under Rule 144A and to persons outside the United States pursuant to Regulation S under the Securities Act.

This Current Report on Form 8-K is not an offer to sell, nor a solicitation of an offer to buy, any securities, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Any offers of the securities will be made only by means of a private offering memorandum.

Disclosure of Supplemental Information Relating to the Offered Notes

On September 17, 2024, the Company made and intends to make certain of its supplemental historic loan performance and other data (collectively, the “Supplemental Data”) available during informational meetings with qualified third parties that are potential purchasers of the Offered Notes. A copy of the Supplemental Data is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein solely for purposes of this Item 7.01.

By design, the Supplemental Data is different from, and not directly comparable to, the Company’s or OnDeck’s previously published loan performance information. The Supplemental Data includes information for a specific subset of OnDeck’s daily, weekly and monthly pay U.S. term loans, including both on-balance sheet loans and loans sold to investors, that: (i) have an original term of 24 months or less and (ii) a specified minimum loan yield (excluding origination fees) greater than or equal

to 10%. The Supplemental Data also includes information for a specific subset of OnDeck’s daily, weekly and monthly pay U.S. lines of credit, including both on-balance sheet loans and loans sold to investors, that: (i) have an original term of 24 months or less and (ii) a specified minimum loan yield (excluding origination fees) greater than or equal to 10%.

In addition, the Supplemental Data sets forth certain historical delinquency data on the basis of “missed payment factor,” as defined on Exhibit 99.1, and not calendar days past due for term loans and lines of credit. The Supplemental Data also sets forth certain historical delinquency data on the basis of cumulative net loss for term loans as well as annualized net loss rate for each of term loan and line of credit. As described in more detail on Exhibit 99.1, the Supplemental Data includes information as of and for the dates and periods shown.

No assurance is given that the Supplemental Data is indicative of the future performance of the Company’s or OnDeck’s existing or future on-balance sheet loans, or loans sold or loans to be sold. The Company undertakes no duty to update the Supplemental Data in the future except as may be required by applicable law. The furnishing of the Supplemental Data is not an admission as to the materiality of all or any portion thereof. The Supplemental Data is not to be viewed in isolation and is intended to be considered in the context of more complete information included in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including its Annual Report on Form 10-K for the year ended December 31, 2023, and other public filings or announcements that the Company has made and may make from time to time with the SEC, by press release or otherwise.

Cautionary Note Regarding Forward-Looking Statements

This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and other legal authority. Forward-looking statements can be identified by words such as “proposed,” “will,” “enables,” “expects,” “allows,” “continues,” “believes,” “anticipates,” “estimates” or similar expressions. These include statements regarding the proposed private offering of the Offered Notes, the contemplated size of the proposed offering of the Offered Notes, possible completion of the proposed offering of the Offered Notes and the prospective impact of the proposed offering of the Offered Notes. Forward-looking statements are neither historical facts nor assurances of future performance. They are based only on our current beliefs, expectations and assumptions regarding the future of our business, anticipated events and trends, the economy and other future conditions. As such, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and in many cases outside our control. Therefore, you should not rely on any of these forward-looking statements. Our expected results may not be achieved, and actual results may differ materially from our expectations. There can be no assurance that the proposed offering of the Offered Notes will be completed as currently contemplated or at all. Factors that could cause or contribute to actual results differing from our forward-looking statements include risks relating to: changes in the financial markets, including changes in credit markets, interest rates, securitization markets generally and our proposed private offering in particular, that can impact the willingness of investors to buy the Offered Notes and the prices and interest rates that investors may require; adverse developments regarding the Company, its business or the online or broader marketplace lending industry generally, which could impact demand for or pricing of the Offered Notes; and other risks, including those described under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023, and in other documents that we file with the SEC from time to time, which are or will be available on the SEC’s website at www.sec.gov. Except as required by law, we undertake no duty to update the information in this report.

ITEM 9.01

FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits

The following exhibits are furnished as part of this Report on Form 8-K:


Exhibit No.		Description

99.1		Supplemental Company small business loan performance and other data.

104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: September 17, 2024


ENOVA INTERNATIONAL, INC.

By:		/s/ Sean Rahilly
		Sean Rahilly
		General Counsel & Secretary

Exhibit 99.1

Delinquencies and Net Charge-Offs

The following Supplemental Data provides historical information relating to (1) delinquency experience as of the dates indicated for a specific subset of OnDeck’s daily, weekly and monthly pay U.S. term loans and lines of credit (as indicated in the headings below), including both on-balance sheet loans and loans sold to investors, as further described in Item 7.01 of the Current Report on Form 8-K to which this Exhibit 99.1 is attached, (2) static pool net charge-off data for such term loans originated in the particular year or quarter specified in such net charge-off table and (3) annualized net charge-off data for such term loans and lines of credit (as indicated in the headings below) as of the particular year or quarter specified in such annualized net charge-off table.


	Term Loan Delinquency Experience¹^,²
	7/31/2024			12/31/2023			12/31/2022			12/31/2021			12/31/2020			12/31/2019			12/31/2018
Number of Term Loans Outstanding		21,577			20,446			18,027			11,951			10,473			19,576			21,116
Aggregate Unpaid Principal Balance	$	1,162,023,733		$	1,081,590,921		$	958,048,846		$	564,833,713		$	402,659,159		$	855,865,052		$	892,216,278
		Unpaid Principal Balance of Past Due Term Loans
1-14 missed payment factor	$	21,897,252		$	34,595,627		$	41,980,019		$	15,395,906		$	14,295,617		$	27,535,137		$	29,859,987
15-29 missed payment factor	$	22,348,082		$	26,264,683		$	25,013,844		$	7,018,340		$	11,737,335		$	18,005,152		$	17,017,747
30-44 missed payment factor	$	20,841,668		$	22,313,096		$	20,890,824		$	5,985,236		$	4,681,417		$	13,677,209		$	12,643,866
45-59 missed payment factor	$	17,909,633		$	20,230,938		$	14,293,284		$	4,307,708		$	3,017,883		$	12,827,053		$	12,090,837
60+ non-write off paying	$	50,310,954		$	26,936,769		$	15,727,287		$	14,702,587		$	50,274,475		$	17,877,544		$	18,208,895
60+ non-write off not paying	$	12,000,673		$	18,655,548		$	12,841,244		$	6,794,343		$	15,395,179		$	26,591,630		$	11,970,251
Total 61+ missed payment factor	$	62,311,627		$	45,592,317		$	28,568,531		$	21,496,930		$	65,669,654		$	44,469,174		$	30,179,146
		Term Loans past due as a % of Unpaid Principal Balance
1-14 missed payment factor		1.88	%		3.20	%		4.38	%		2.73	%		3.55	%		3.22	%		3.35	%
15-29 missed payment factor		1.92	%		2.43	%		2.61	%		1.24	%		2.91	%		2.10	%		1.91	%
30-44 missed payment factor		1.79	%		2.06	%		2.18	%		1.06	%		1.16	%		1.60	%		1.42	%
45-59 missed payment factor		1.54	%		1.87	%		1.49	%		0.76	%		0.75	%		1.50	%		1.36	%
60+ non-write off paying		4.33	%		2.49	%		1.64	%		2.60	%		12.49	%		2.09	%		2.04	%
60+ non-write off not paying		1.03	%		1.72	%		1.34	%		1.20	%		3.82	%		3.11	%		1.34	%

The delinquency experience is measured by the missed payment factors of the term loans in the Term Loan Comparable Serviced Portfolio. The missed payment factor of a daily pay loan is the sum of the total past due amount of scheduled loan payments thereunder divided by the required daily scheduled loan payment thereunder plus the number of scheduled loan payment dates (if any) past the maturity date on which scheduled loan payment were due but not received on such loan. The missed payment factor of a weekly pay loan is calculated utilizing the same methodology, normalized to account for loans with only one scheduled payment per week and the missed payment factor of a monthly pay loan is calculated utilizing the same methodology, normalized to account for loans with only one scheduled payment per month.

²	Paid off Term Loans are viewed as $0 Unpaid Principal Balance.


	Line of Credit Delinquency Experience³^,⁴
	7/31/2024			12/31/2023			12/31/2022			12/31/2021			12/31/2020			12/31/2019			12/31/2018
Number of Lines of Credit Outstanding		24,172			19,191			19,752			16,546			15,448			16,672			15,223
Aggregate Unpaid Principal Balance	$	459,216,104		$	333,462,689		$	282,702,546		$	187,970,125		$	155,614,490		$	270,415,139		$	181,065,400
		Unpaid Principal Balance of Past Due Lines of Credit
1-14 missed payment factor	$	7,772,968		$	9,265,803		$	7,587,935		$	2,719,867		$	3,096,656		$	5,563,570		$	3,142,169
15-29 missed payment factor	$	11,580,604		$	5,601,523		$	4,472,181		$	1,305,146		$	1,553,464		$	3,390,316		$	2,057,493
30-44 missed payment factor	$	6,874,545		$	4,596,375		$	3,469,618		$	909,273		$	909,064		$	3,085,334		$	1,808,989
45-59 missed payment factor	$	4,200,122		$	4,437,468		$	2,363,179		$	640,028		$	957,284		$	2,326,662		$	1,039,825
60+ non-write off paying	$	7,548,884		$	5,678,597		$	2,173,499		$	2,066,120		$	8,537,274		$	1,950,686		$	1,257,142
60+ non-write off not paying	$	4,331,222		$	5,884,622		$	1,597,465		$	2,081,177		$	4,316,801		$	5,099,439		$	3,255,459
Total 61+ missed payment factor	$	11,880,107		$	11,563,219		$	3,770,964		$	4,147,297		$	12,854,076		$	7,050,124		$	4,512,602
		Lines of Credit past due as a % of Unpaid Principal Balance
1-14 missed payment factor		1.69	%		2.78	%		2.68	%		1.45	%		1.99	%		2.06	%		1.74	%
15-29 missed payment factor		2.52	%		1.68	%		1.58	%		0.69	%		1.00	%		1.25	%		1.14	%
30-44 missed payment factor		1.50	%		1.38	%		1.23	%		0.48	%		0.58	%		1.14	%		1.00	%
45-59 missed payment factor		0.91	%		1.33	%		0.84	%		0.34	%		0.62	%		0.86	%		0.57	%
60+ non-write off paying		1.64	%		1.70	%		0.77	%		1.10	%		5.49	%		0.72	%		0.69	%
60+ non-write off not paying		0.94	%		1.76	%		0.57	%		1.11	%		2.77	%		1.89	%		1.80	%

The delinquency experience is measured by the missed payment factors of the line of credit loans in the Line of Credit Comparable Serviced Portfolio. The missed payment factor of a daily pay loan is the sum of the total past due amount of scheduled loan payments thereunder divided by the required daily scheduled loan payment thereunder plus the number of scheduled loan payment dates (if any) past the maturity date on which scheduled loan payment were due but not received on such loan. The missed payment factor of a weekly pay loan is calculated utilizing the same methodology, normalized to account for loans with only one scheduled payment per week and the missed payment factor of a monthly pay loan is calculated utilizing the same methodology, normalized to account for loans with only one scheduled payment per month. Historically, line of credit loans have been weekly pay loans.

⁴	Dormant Lines of Credit are viewed as $0 Unpaid Principal Balance.

Term Loan Cumulative Net Charge-Off Experience⁵

Origination Vintages (based on calendar year or quarter): Overall


	2024 Q2		2024 Q1		2023 Q4		2023 Q3		2023 Q2		2023 Q1		2022		2021		2020		2019		2018
Number of Loans Originated		5,999		6,545		6,841		6,193		5,429		5,537		23,008		15,091		10,944		28,717		31,070
Aggregate Original Principal Balance	$	490,629,522	$	523,136,590	$	525,515,724	$	457,971,694	$	408,109,914	$	423,014,079	$	1,647,779,313	$	951,026,442	$	658,440,346	$	1,708,671,260	$	1,835,659,879

Cumulative Net Charge-Offs (as a % of aggregate original principal balance)⁶


Months Since Origination	2024 Q2			2024 Q1			2023 Q4			2023 Q3			2023 Q2			2023 Q1			2022			2021			2020			2019			2018
1		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.01	%
2		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.01	%		0.03	%		0.01	%		0.03	%		0.04	%
3					0.00	%		0.01	%		0.00	%		0.00	%		0.00	%		0.03	%		0.09	%		0.15	%		0.07	%		0.10	%
4					0.05	%		0.12	%		0.05	%		0.18	%		0.22	%		0.27	%		0.30	%		0.39	%		0.23	%		0.28	%
5					0.77	%		0.80	%		0.87	%		0.85	%		0.76	%		1.23	%		0.89	%		0.72	%		0.83	%		0.82	%
6								1.91	%		2.21	%		2.04	%		1.74	%		2.54	%		1.83	%		1.30	%		1.71	%		1.75	%
7								3.11	%		3.64	%		3.20	%		2.69	%		3.80	%		2.67	%		1.90	%		2.56	%		2.77	%
8								4.39	%		4.87	%		4.55	%		3.97	%		5.15	%		3.72	%		2.71	%		3.57	%		3.79	%
9											6.31	%		5.33	%		5.33	%		6.36	%		4.44	%		3.53	%		4.51	%		4.65	%
10											7.56	%		6.51	%		6.16	%		7.41	%		5.16	%		4.20	%		5.39	%		5.40	%
11											8.57	%		7.60	%		6.82	%		8.40	%		5.71	%		4.62	%		6.25	%		5.85	%
12														8.26	%		7.58	%		9.17	%		6.24	%		4.98	%		6.85	%		6.28	%
13														8.67	%		8.14	%		9.96	%		6.54	%		5.21	%		7.39	%		6.63	%
14														9.17	%		8.66	%		10.58	%		6.71	%		5.41	%		7.80	%		6.92	%
15																	8.96	%		11.02	%		6.88	%		5.46	%		8.22	%		7.12	%
16																	9.18	%		11.37	%		7.04	%		5.60	%		8.50	%		7.29	%
17																	9.36	%		11.66	%		7.17	%		5.64	%		8.76	%		7.44	%
18																				11.85	%		7.28	%		5.65	%		8.87	%		7.62	%
19																				12.02	%		7.33	%		5.68	%		8.98	%		7.71	%
20																				12.12	%		7.39	%		5.73	%		9.01	%		7.81	%
21																							7.37	%		5.69	%		9.04	%		7.84	%
22																							7.38	%		5.69	%		9.07	%		7.86	%
23																							7.38	%		5.63	%		9.07	%		7.87	%
24																							7.35	%		5.58	%		9.06	%		7.87	%
25																							7.33	%		5.58	%		9.02	%		7.87	%
26																							7.29	%		5.55	%		8.99	%		7.86	%
27																							7.23	%		5.47	%		8.94	%		7.84	%
28																							7.20	%		5.42	%		8.89	%		7.82	%
29																							7.19	%		5.37	%		8.83	%		7.81	%
30																							7.16	%		5.35	%		8.77	%		7.79	%

⁵

The historical information in the tables in this section reflect net charge-offs in respect of the Term Loan Comparable Serviced Portfolio that were charged-off by the Seller and/or On Deck Capital, Inc. in accordance with their then-existing policies and procedures. A Pooled Loan will be deemed a Charged-Off Loan under the Indenture if it is charged-off by the Seller and/or On Deck Capital, Inc. in accordance with their Credit Policies or it has a Missed Payment Factor (i) in the case of Daily Pay Loans, higher than 60, (ii) in the case of Weekly Pay Loans, higher than 12 and (iii) in the case of Monthly Pay Loans, higher than 3. The data shown above for the referenced annual or quarterly vintages represents the loans originated during such year or quarter as a static pool, and illustrates how such vintages have performed given equivalent months of seasoning.

⁶	Cumulative net charge-offs (as a % of aggregate original principal balance) are only included for those vintages and months since origination for which performance history exists for each loan of such vintage over such number of months since origination.

Origination Vintages (based on calendar year or quarter): OnDeck Score < 470


	2024 Q2		2024 Q1		2023 Q4		2023 Q3		2023 Q2		2023 Q1		2022		2021		2020		2019		2018
Number of Loans Originated		52		11		25		46		87		87		795		834		331		1,034		1,753
Aggregate Original Principal Balance	$	2,495,000	$	307,000	$	1,602,944	$	2,791,554	$	5,318,168	$	4,786,264	$	28,105,756	$	27,059,170	$	8,521,102	$	26,174,248	$	42,028,278

Cumulative Net Charge-Offs (as a % of aggregate original principal balance)⁷


Months Since Origination	2024 Q2			2024 Q1			2023 Q4			2023 Q3			2023 Q2			2023 Q1			2022			2021			2020			2019			2018
1		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%
2		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.17	%		0.00	%		0.10	%		0.24	%
3					0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.21	%		0.13	%		0.15	%		0.56	%
4					0.00	%		5.74	%		0.00	%		0.00	%		0.00	%		0.54	%		0.70	%		0.13	%		0.38	%		1.23	%
5					0.00	%		5.74	%		4.98	%		9.09	%		2.71	%		3.92	%		3.05	%		0.70	%		2.47	%		2.99	%
6								8.95	%		8.04	%		15.50	%		4.83	%		6.71	%		8.03	%		1.47	%		4.54	%		5.75	%
7								13.01	%		9.31	%		18.53	%		8.13	%		10.58	%		10.57	%		3.22	%		6.55	%		8.96	%
8								13.01	%		12.57	%		18.48	%		9.24	%		12.92	%		13.42	%		4.97	%		8.52	%		12.17	%
9											12.47	%		18.48	%		11.14	%		15.31	%		15.50	%		5.73	%		10.19	%		13.87	%
10											13.38	%		21.10	%		11.46	%		16.81	%		16.41	%		6.36	%		11.67	%		14.89	%
11											13.33	%		23.32	%		14.47	%		18.27	%		16.14	%		7.33	%		12.52	%		15.52	%
12														25.18	%		14.47	%		19.59	%		16.52	%		8.21	%		13.59	%		15.82	%
13														26.62	%		15.51	%		20.69	%		16.64	%		8.36	%		13.78	%		16.44	%
14														27.23	%		15.66	%		20.86	%		16.99	%		8.75	%		13.88	%		16.74	%
15																	18.73	%		21.14	%		17.01	%		8.96	%		13.97	%		16.92	%
16																	19.68	%		21.16	%		17.06	%		9.20	%		14.73	%		16.93	%
17																	19.61	%		21.16	%		17.05	%		9.33	%		14.81	%		16.92	%
18																				21.26	%		17.09	%		9.25	%		14.61	%		16.92	%
19																				21.25	%		16.44	%		9.22	%		14.66	%		16.84	%
20																				21.46	%		16.39	%		8.94	%		14.57	%		16.79	%
21																							16.35	%		8.91	%		14.49	%		16.75	%
22																							16.26	%		8.87	%		14.33	%		16.71	%
23																							16.20	%		8.78	%		14.36	%		16.66	%
24																							16.12	%		8.73	%		14.27	%		16.60	%
25																							16.03	%		8.55	%		14.16	%		16.56	%
26																							15.95	%		8.47	%		14.04	%		16.48	%
27																							15.86	%		8.38	%		13.90	%		16.34	%
28																							15.81	%		8.32	%		13.79	%		16.16	%
29																							15.72	%		8.23	%		13.77	%		16.09	%
30																							15.66	%		8.16	%		13.65	%		16.06	%

⁷	Cumulative net charge-offs (as a % of aggregate original principal balance) are only included for those vintages and months since origination for which performance history exists for each loan of such vintage over such number of months since origination.

Origination Vintages (based on calendar year or quarter): OnDeck Score 470-499


	2024 Q2		2024 Q1		2023 Q4		2023 Q3		2023 Q2		2023 Q1		2022		2021		2020		2019		2018
Number of Loans Originated		744		535		623		704		525		238		4,114		3,082		1,510		4,600		5,856
Aggregate Original Principal Balance	$	35,989,479	$	25,244,259	$	28,346,395	$	35,802,199	$	29,740,921	$	16,531,885	$	203,280,181	$	150,873,809	$	57,734,557	$	176,893,016	$	229,466,667

Cumulative Net Charge-Offs (as a % of aggregate original principal balance)⁸


Months Since Origination	2024 Q2			2024 Q1			2023 Q4			2023 Q3			2023 Q2			2023 Q1			2022			2021			2020			2019			2018
1		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%
2		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.03	%		0.00	%		0.09	%		0.05	%
3					0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.06	%		0.24	%		0.28	%		0.19	%
4					0.02	%		0.00	%		0.20	%		0.08	%		1.22	%		0.61	%		0.55	%		0.97	%		0.79	%		0.69	%
5					1.32	%		2.69	%		1.73	%		1.10	%		1.75	%		3.19	%		1.96	%		1.59	%		2.21	%		1.96	%
6								5.84	%		3.94	%		3.41	%		2.14	%		6.16	%		4.40	%		2.83	%		4.75	%		4.11	%
7								7.65	%		6.90	%		8.09	%		2.38	%		8.59	%		6.36	%		3.78	%		6.36	%		6.21	%
8								10.96	%		10.08	%		9.66	%		4.91	%		11.29	%		9.46	%		4.81	%		8.35	%		7.99	%
9											11.72	%		10.14	%		7.14	%		13.37	%		11.29	%		6.64	%		10.01	%		9.73	%
10											13.80	%		10.82	%		10.46	%		14.83	%		12.95	%		7.32	%		11.10	%		11.07	%
11											15.70	%		13.43	%		12.10	%		16.81	%		14.15	%		8.11	%		12.81	%		12.00	%
12														15.16	%		14.33	%		18.19	%		15.37	%		8.95	%		13.95	%		12.56	%
13														15.75	%		16.16	%		19.73	%		15.88	%		9.57	%		14.71	%		13.05	%
14														16.47	%		16.33	%		20.71	%		16.16	%		9.90	%		15.30	%		13.50	%
15																	16.68	%		21.31	%		16.24	%		9.88	%		15.63	%		13.86	%
16																	16.56	%		21.99	%		16.55	%		10.33	%		16.00	%		14.09	%
17																	17.29	%		22.44	%		16.72	%		10.26	%		16.22	%		14.28	%
18																				22.68	%		17.04	%		10.26	%		16.26	%		14.50	%
19																				23.06	%		17.03	%		10.16	%		16.28	%		14.54	%
20																				23.30	%		17.21	%		10.11	%		16.21	%		14.53	%
21																							17.09	%		9.87	%		16.11	%		14.61	%
22																							17.04	%		9.99	%		16.06	%		14.53	%
23																							17.07	%		9.88	%		15.95	%		14.52	%
24																							17.04	%		9.84	%		15.94	%		14.51	%
25																							16.99	%		9.82	%		15.91	%		14.47	%
26																							16.99	%		9.68	%		15.83	%		14.44	%
27																							16.93	%		9.57	%		15.76	%		14.37	%
28																							16.87	%		9.44	%		15.71	%		14.35	%
29																							16.87	%		9.30	%		15.62	%		14.31	%
30																							16.82	%		9.16	%		15.49	%		14.23	%

⁸	Cumulative net charge-offs (as a % of aggregate original principal balance) are only included for those vintages and months since origination for which performance history exists for each loan of such vintage over such number of months since origination.

Origination Vintages (based on calendar year or quarter): OnDeck Score 500-529


	2024 Q2		2024 Q1		2023 Q4		2023 Q3		2023 Q2		2023 Q1		2022		2021		2020		2019		2018
Number of Loans Originated		2,241		2,534		2,844		2,472		2,170		2,286		8,795		4,794		3,282		8,711		9,007
Aggregate Original Principal Balance	$	148,887,195	$	159,242,178	$	172,973,867	$	147,602,073	$	132,119,133	$	145,016,823	$	595,540,252	$	291,601,858	$	176,638,609	$	472,686,919	$	496,682,710

Cumulative Net Charge-Offs (as a % of aggregate original principal balance)⁹


Months Since Origination	2024 Q2			2024 Q1			2023 Q4			2023 Q3			2023 Q2			2023 Q1			2022			2021			2020			2019			2018
1		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.03	%
2		0.00	%		0.00	%		0.01	%		0.00	%		0.00	%		0.00	%		0.01	%		0.06	%		0.00	%		0.03	%		0.06	%
3					0.00	%		0.04	%		0.00	%		0.00	%		0.00	%		0.06	%		0.15	%		0.24	%		0.09	%		0.14	%
4					0.07	%		0.20	%		0.09	%		0.32	%		0.13	%		0.33	%		0.45	%		0.60	%		0.33	%		0.35	%
5					1.56	%		1.47	%		1.44	%		0.97	%		0.84	%		1.57	%		1.01	%		1.19	%		1.21	%		1.29	%
6								3.07	%		3.13	%		2.74	%		2.49	%		3.20	%		2.05	%		2.15	%		2.28	%		2.52	%
7								4.64	%		5.31	%		4.03	%		3.92	%		4.90	%		3.11	%		3.26	%		3.47	%		3.96	%
8								6.28	%		7.19	%		5.72	%		5.90	%		6.66	%		4.04	%		4.40	%		4.79	%		5.20	%
9											9.11	%		6.72	%		7.96	%		8.30	%		4.85	%		5.64	%		6.29	%		6.34	%
10											10.53	%		8.51	%		9.33	%		10.03	%		5.83	%		6.43	%		7.53	%		7.45	%
11											11.80	%		9.99	%		10.30	%		11.21	%		6.54	%		7.21	%		8.91	%		8.10	%
12														10.94	%		11.43	%		12.14	%		7.34	%		7.74	%		9.72	%		8.71	%
13														11.70	%		12.06	%		13.15	%		7.79	%		8.05	%		10.56	%		9.05	%
14														12.46	%		12.88	%		14.10	%		8.05	%		8.38	%		11.15	%		9.41	%
15																	13.24	%		14.76	%		8.37	%		8.48	%		11.64	%		9.64	%
16																	13.56	%		15.28	%		8.60	%		8.58	%		11.89	%		9.80	%
17																	13.49	%		15.65	%		8.80	%		8.62	%		12.34	%		10.08	%
18																				15.94	%		8.91	%		8.67	%		12.52	%		10.32	%
19																				16.10	%		9.02	%		8.68	%		12.65	%		10.49	%
20																				16.14	%		9.04	%		8.81	%		12.68	%		10.60	%
21																							9.05	%		8.78	%		12.69	%		10.61	%
22																							9.05	%		8.74	%		12.69	%		10.69	%
23																							9.01	%		8.70	%		12.76	%		10.69	%
24																							8.98	%		8.62	%		12.70	%		10.70	%
25																							8.97	%		8.65	%		12.70	%		10.72	%
26																							8.92	%		8.66	%		12.68	%		10.72	%
27																							8.79	%		8.56	%		12.62	%		10.68	%
28																							8.71	%		8.48	%		12.54	%		10.66	%
29																							8.72	%		8.43	%		12.41	%		10.64	%
30																							8.67	%		8.37	%		12.34	%		10.62	%

⁹	Cumulative net charge-offs (as a % of aggregate original principal balance) are only included for those vintages and months since origination for which performance history exists for each loan of such vintage over such number of months since origination.

Origination Vintages (based on calendar year or quarter): OnDeck Score 530-559


	2024 Q2		2024 Q1		2023 Q4		2023 Q3		2023 Q2		2023 Q1		2022		2021		2020		2019		2018
Number of Loans Originated		2,095		2,364		2,242		1,990		1,794		1,972		5,922		3,833		3,341		8,336		8,263
Aggregate Original Principal Balance	$	202,815,437	$	214,581,685	$	201,831,280	$	171,567,572	$	154,517,976	$	164,778,215	$	500,502,163	$	275,298,612	$	219,069,951	$	541,210,531	$	557,559,854

Cumulative Net Charge-Offs (as a % of aggregate original principal balance)¹⁰


Months Since Origination	2024 Q2			2024 Q1			2023 Q4			2023 Q3			2023 Q2			2023 Q1			2022			2021			2020			2019			2018
1		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%
2		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.02	%		0.02	%		0.03	%		0.02	%
3					0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.02	%		0.06	%		0.15	%		0.03	%		0.07	%
4					0.06	%		0.09	%		0.01	%		0.20	%		0.09	%		0.16	%		0.15	%		0.33	%		0.15	%		0.22	%
5					0.49	%		0.39	%		0.61	%		0.79	%		0.58	%		0.52	%		0.51	%		0.63	%		0.63	%		0.46	%
6								1.38	%		1.84	%		1.52	%		1.48	%		1.37	%		0.83	%		1.06	%		1.43	%		1.17	%
7								2.48	%		2.94	%		2.43	%		2.46	%		2.13	%		1.25	%		1.40	%		2.26	%		1.94	%
8								3.67	%		3.65	%		4.06	%		3.53	%		3.06	%		1.86	%		2.04	%		3.15	%		2.86	%
9											5.13	%		4.90	%		4.75	%		3.92	%		2.20	%		2.52	%		3.94	%		3.57	%
10											6.31	%		5.88	%		5.32	%		4.51	%		2.57	%		3.24	%		4.79	%		4.10	%
11											7.10	%		6.65	%		5.80	%		5.31	%		3.01	%		3.57	%		5.51	%		4.44	%
12														6.89	%		6.44	%		5.94	%		3.24	%		3.76	%		6.06	%		4.89	%
13														7.08	%		6.86	%		6.46	%		3.49	%		3.96	%		6.58	%		5.27	%
14														7.48	%		7.42	%		6.88	%		3.62	%		4.22	%		6.94	%		5.52	%
15																	7.64	%		7.18	%		3.80	%		4.24	%		7.48	%		5.72	%
16																	7.82	%		7.42	%		3.86	%		4.45	%		7.82	%		5.92	%
17																	8.31	%		7.69	%		4.02	%		4.57	%		8.05	%		6.06	%
18																				7.79	%		4.07	%		4.49	%		8.17	%		6.22	%
19																				7.96	%		4.22	%		4.49	%		8.33	%		6.34	%
20																				8.10	%		4.29	%		4.57	%		8.40	%		6.47	%
21																							4.28	%		4.54	%		8.46	%		6.50	%
22																							4.33	%		4.50	%		8.51	%		6.52	%
23																							4.36	%		4.40	%		8.48	%		6.54	%
24																							4.31	%		4.37	%		8.49	%		6.53	%
25																							4.30	%		4.34	%		8.45	%		6.53	%
26																							4.25	%		4.29	%		8.36	%		6.53	%
27																							4.22	%		4.20	%		8.30	%		6.51	%
28																							4.22	%		4.16	%		8.26	%		6.51	%
29																							4.23	%		4.09	%		8.24	%		6.49	%
30																							4.20	%		4.08	%		8.18	%		6.46	%

¹⁰	Cumulative net charge-offs (as a % of aggregate original principal balance) are only included for those vintages and months since origination for which performance history exists for each loan of such vintage over such number of months since origination.

Origination Vintages (based on calendar year or quarter): OnDeck Score 560+


	2024 Q2		2024 Q1		2023 Q4		2023 Q3		2023 Q2		2023 Q1		2022		2021		2020		2019		2018
Number of Loans Originated		867		1,101		1,107		981		853		954		3,382		2,548		2,480		6,036		6,191
Aggregate Original Principal Balance	$	100,442,411	$	123,761,468	$	120,761,237	$	100,208,296	$	86,413,716	$	91,900,892	$	320,350,960	$	206,192,993	$	196,476,127	$	491,706,545	$	509,922,369

Cumulative Net Charge-Offs (as a % of aggregate original principal balance)¹¹


Months Since Origination	2024 Q2			2024 Q1			2023 Q4			2023 Q3			2023 Q2			2023 Q1			2022			2021			2020			2019			2018
1		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%
2		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.02	%		0.00	%		0.03	%		0.00	%		0.00	%
3					0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.02	%		0.03	%		0.04	%		0.00	%		0.01	%
4					0.00	%		0.00	%		0.00	%		0.00	%		0.42	%		0.07	%		0.07	%		0.10	%		0.01	%		0.01	%
5					0.15	%		0.00	%		0.08	%		0.16	%		0.66	%		0.21	%		0.14	%		0.16	%		0.10	%		0.05	%
6								0.11	%		0.69	%		0.62	%		0.81	%		0.45	%		0.14	%		0.36	%		0.24	%		0.25	%
7								0.75	%		1.05	%		0.67	%		0.92	%		0.75	%		0.20	%		0.65	%		0.45	%		0.47	%
8								1.25	%		1.48	%		1.00	%		1.28	%		1.02	%		0.27	%		1.22	%		0.86	%		0.85	%
9											2.12	%		1.51	%		1.59	%		1.31	%		0.38	%		1.75	%		1.13	%		1.14	%
10											2.92	%		2.20	%		1.62	%		1.53	%		0.52	%		2.26	%		1.58	%		1.50	%
11											3.65	%		2.68	%		1.81	%		1.79	%		0.61	%		2.33	%		1.81	%		1.64	%
12														3.20	%		1.98	%		2.07	%		0.66	%		2.54	%		2.06	%		1.81	%
13														3.35	%		2.45	%		2.31	%		0.67	%		2.61	%		2.26	%		2.05	%
14														3.54	%		2.51	%		2.50	%		0.70	%		2.62	%		2.52	%		2.24	%
15																	2.67	%		2.62	%		0.72	%		2.65	%		2.79	%		2.35	%
16																	2.83	%		2.68	%		0.80	%		2.64	%		2.96	%		2.47	%
17																	2.79	%		2.76	%		0.80	%		2.62	%		3.09	%		2.53	%
18																				2.91	%		0.83	%		2.71	%		3.16	%		2.67	%
19																				2.97	%		0.81	%		2.82	%		3.25	%		2.69	%
20																				3.03	%		0.82	%		2.83	%		3.29	%		2.80	%
21																							0.81	%		2.84	%		3.33	%		2.81	%
22																							0.85	%		2.87	%		3.40	%		2.84	%
23																							0.85	%		2.85	%		3.43	%		2.88	%
24																							0.85	%		2.82	%		3.43	%		2.87	%
25																							0.84	%		2.85	%		3.38	%		2.87	%
26																							0.84	%		2.82	%		3.40	%		2.88	%
27																							0.83	%		2.79	%		3.38	%		2.89	%
28																							0.82	%		2.77	%		3.37	%		2.88	%
29																							0.79	%		2.75	%		3.33	%		2.89	%
30																							0.77	%		2.80	%		3.31	%		2.90	%

¹¹	Cumulative net charge-offs (as a % of aggregate original principal balance) are only included for those vintages and months since origination for which performance history exists for each loan of such vintage over such number of months since origination.


	Term Loan Annualized Net Charge-Offs Experience¹²
	As of 7/31/24			2023			2022			2021			2020			2019			2018
Average Number of Term Loans Outstanding		20,646			19,037			15,168			10,393			15,214			20,913			19,319
Average Aggregate Unpaid Principal Balance	$	1,090,130,362		$	993,269,330		$	758,591,113		$	442,684,455		$	632,006,246		$	867,112,999		$	834,373,964
Net Charge-offs	$	117,746,662		$	179,053,893		$	79,759,902		$	24,065,421		$	132,424,601		$	129,489,502		$	101,464,659
Annualized Net Charge-off Rate		10.80	%		18.03	%		10.51	%		5.44	%		20.95	%		14.93	%		12.16	%


	Line of Credit Annualized Net Charge-Offs Experience¹³
	As of 7/31/24			2023			2022			2021			2020			2019			2018
Average Number of Lines of Credit Outstanding		20,414			18,374			18,190			15,876			16,255			16,083			13,953
Average Aggregate Unpaid Principal Balance	$	363,670,071		$	299,460,266		$	230,444,364		$	167,253,500		$	215,129,982		$	226,741,733		$	148,768,339
Net Charge-offs	$	33,712,632		$	42,524,402		$	14,719,938		$	7,849,107		$	32,804,478		$	22,555,856		$	12,410,990
Annualized Net Charge-off Rate		9.27	%		14.20	%		6.39	%		4.69	%		15.25	%		9.95	%		8.34	%

¹²

The historical information in this table reflects net charge-offs in respect of the Term Loan Comparable Serviced Portfolio that were charged-off by the Seller and/or On Deck Capital, Inc in accordance with its then-existing policies and procedures. A Pooled Loan will be deemed a Charged-Off Loan under the Indenture if it is charged-off by the Seller and/or On Deck Capital, Inc in accordance with its Credit Policies or it has a Missed Payment Factor (i) in the case of Daily Pay Loans, higher than 60, (ii) in the case of Weekly Pay Loans, higher than 12 and (iii) in the case of Monthly Pay Loans, higher than 3.

¹³

The historical information in this table reflects net charge-offs in respect of the Line of Credit Comparable Serviced Portfolio that were charged-off by the Seller in accordance with its then-existing policies and procedures. A Pooled Loan will be deemed a Charged-Off Loan under the Indenture if it is charged-off by the Seller in accordance with its Credit Policies or it has a Missed Payment Factor (i) in the case of Daily Pay Loans, higher than 60, (ii) in the case of Weekly Pay Loans, higher than 12 and (iii) in the case of Monthly Pay Loans, higher than 3.

Document and Entity Information	Sep. 17, 2024
Cover [Abstract]
Amendment Flag	false
Entity Central Index Key	0001529864
Document Type	8-K
Document Period End Date	Sep. 17, 2024
Entity Registrant Name	ENOVA INTERNATIONAL, INC.
Entity Incorporation State Country Code	DE
Entity File Number	1-35503
Entity Tax Identification Number	45-3190813
Entity Address, Address Line One	175 West Jackson Boulevard
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60604
City Area Code	(312)
Local Phone Number	568-4200
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Security 12b Title	Common stock, par value $0.00001 per share
Trading Symbol	ENVA
Security Exchange Name	NYSE
Entity Emerging Growth Company	false

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ENVA Enova International Inc