Needham & Company Downgrades On Deck Capital (ONDK) to Hold

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Go back to Needham & Company Downgrades On Deck Capital (ONDK) to Hold

OnDeck Reports First Quarter 2016 Financial Results

May 2, 2016 4:15 PM EDT

NEW YORK, May 2, 2016 /PRNewswire/ -- OnDeck® (NYSE: ONDK), the leader in online lending for small business, today announced first quarter 2016 financial results highlighted by record originations and strong credit performance.  For the three months ended March 31, 2016, OnDeck grew originations 37% year-over-year to $570 million and increased gross revenue and net revenue by 11% and 11% year-over-year, respectively.

"OnDeck's first quarter 2016 operating performance was solid, highlighted by growth in all of our origination channels, and a sequential decrease in charge-offs during what is usually a seasonally... More