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China Rapid Finance Limited (XRF) Reports Q1 Loss of $0.71 on Revenues of $16.8M

May 25, 2017 6:05 AM EDT
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China Rapid Finance Limited (NYSE: XRF) reported Q1 EPS of ($0.71). Revenue for the quarter came in at $16.8 million.

First Quarter 2017 Financial Highlights

  • Total gross billings on transaction and service fees[1] in the first quarter of 2017 increased by 13.1% to US$16.8 million from US$14.8 million in the prior year period.
  • Gross billings from consumption loans increased by 336.8% to US$6.7 million in the first quarter of 2017 from US$1.5 million in the prior year period. Gross billings from consumption loans increased to 39.9% of total gross billings on transaction and service fees in the first quarter of 2017 from 10.3% in the prior year period.
  • Gross billings from lifestyle loans were US$10.1 million in the first quarter of 2017, as compared with US$13.3 million in the prior year period. Gross billings from lifestyle loans were 60.1% of total gross billings on transaction and service fees in the first quarter of 2017, as compared with 89.7% in the prior year period.

First Quarter 2017 Operating Highlights

  • Number of new borrowers added in the first quarter of 2017 was approximately 545,000. As of March 31, 2017, the Company had reached approximately 2.0 million unique borrowers on its marketplace since inception, and the total number of loans facilitated on the Company\'s platform grew to approximately 15.0 million.
  • Total loan volume facilitated on the Company\'s marketplace in the first quarter of 2017 increased to US$485.0 million, primarily driven by the rapid expansion of consumption loans, which accounted for US$405.0 million of the total loan volume, while lifestyle loans accounted for US$80.0 million.
  • Total number of consumption loans facilitated in the first quarter of 2017 was 4.0 million, while total number of lifestyle loans facilitated was 6,000.
  • Repeat borrower rate[2] on the Company\'s marketplace accounted for 73% of the total borrowers as of March 31, 2017.

For earnings history and earnings-related data on China Rapid Finance Limited (XRF) click here.



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