On Deck Capital (ONDK) Tops Q2 EPS by 5c; Issues Q3 Outlook

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Go back to On Deck Capital (ONDK) Tops Q2 EPS by 5c; Issues Q3 Outlook

OnDeck Reports Second Quarter 2015 Financial Results

August 3, 2015 4:10 PM EDT

NEW YORK, Aug. 3, 2015 /PRNewswire/ -- OnDeck® (NYSE: ONDK), a leading platform for small business lending, today announced financial results for its second quarter ended June 30, 2015.

Financial Highlights

Gross revenue was a record $63.3 million for the quarter, up 78% from the prior year period. Adjusted EBITDA* was $8.7 million for the quarter, compared to $2.5 million in the prior year period. Adjusted Net Income* improved to $7.3 million for the quarter, compared to $1.5... More

OnDeck Announces Forward Purchase Agreement to Sell up to $500 Million of Marketplace Loans

August 3, 2015 4:01 PM EDT

NEW YORK, Aug. 3, 2015 /PRNewswire/ -- OnDeck® (NYSE: ONDK), a leading platform for small business lending, announced today that an affiliate of Jefferies Group LLC, the global investment banking firm, has entered into an amended forward purchase agreement giving Jefferies the ability to purchase up to $500 million in small business loans through OnDeck Marketplace® over the next 12 months.

OnDeck Marketplace is a platform that enables institutional investors to purchase small business loans originated by... More