On Deck Capital (ONDK) Misses Q1 EPS by 4c, Revenues Beat; Updates FY19 Revenue Guidance Below Consensus, Affirms 2Q Revenue Views,

May 2, 2019 7:17 AM

On Deck Capital (NYSE: ONDK) reported Q1 EPS of $0.07, $0.04 worse than the analyst estimate of $0.11. Revenue for the quarter came in at $110.17 million versus the consensus estimate of $108.74 million.

\"Our first quarter results reflect the continued execution of our strategy as we prudently grew the portfolio and maintained strong margins while investing in our strategic growth initiatives,\" said Noah Breslow, chief executive officer. \"These initiatives are gaining momentum as we closed our business combination with Evolocity Financial Group in Canada, grew ODX volume and advanced our equipment finance offering by insourcing key processes and starting to fund loans on our balance sheet. While the economic environment remains healthy, we continue to monitor customer and market trends and adjust our risk decisioning accordingly.\"

GUIDANCE:

On Deck Capital sees Q2 2019 revenue of $108-112 million, versus the consensus of $110.72 million.

On Deck Capital sees FY2019 revenue of $435-455 million, versus the consensus of $455.34 million.

For earnings history and earnings-related data on On Deck Capital (ONDK) click here.

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