Lending Club (LC) Financials

$1.4 B

Mkt cap, 25-May-2018

$151.7 M

Revenue Q1, 2018
Cash, 31-Mar-2018405.1 M

Revenue/Financials

Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

98 m211.1 m429.9 m500.8 m

Revenue growth, %

115%104%16%

Cost of goods sold

56.6 m56.6 m549.7 m688.4 m

Gross profit

41.4 m154.5 m(119.8 m)(187.6 m)

Gross profit Margin, %

42%73%(28%)(37%)

Sales and marketing expense

37.4 m85.7 m171.5 m216.7 m

R&D expense

15.5 m38.5 m77.1 m

General and administrative expense

19.8 m81.1 m122.2 m

Operating expense total

90.7 m242.6 m432.1 m216.7 m

EBIT

219 k219 k3.2 m8.3 m

EBIT margin, %

0%0%1%2%

Pre tax profit

(4.2 m)

Income tax expense

1.4 m2.8 m(4.2 m)

Net Income

7.3 m(32.9 m)(5 m)(146 m)

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Revenue

51.7 m73.5 m48.6 m93.3 m114.4 m132 m148.6 m184.1 m170.8 m165.2 m163.2 m139.6 m151.7 m

Cost of goods sold

51.4 m73 m85.6 m94.5 m113.3 m129.7 m144.7 m176.7 m177.6 m169.4 m158.6 m

Gross profit

365 k464 k(37 m)(1.2 m)1.1 m2.2 m3.9 m7.5 m(6.8 m)(4.3 m)4.6 m

Gross profit Margin, %

1%1%(76%)(1%)1%2%3%4%(4%)(3%)3%

Sales and marketing expense

10.5 m20.6 m19.2 m21 m34.9 m40.3 m45 m66.6 m49.7 m44.9 m54.6 m55.6 m57.5 m

R&D expense

36.8 m

General and administrative expense

9.3 m18 m29 m31.8 m39.4 m45.1 m51.6 m

Operating expense total

(24.8 m)46 m56.8 m63 m87 m100.7 m114.1 m148 m188.7 m151.3 m154.4 m165.1 m182.8 m

EBIT

16 k48 k(422 k)192 k799 k1.2 m1.2 m2.1 m2.4 m2.4 m6.9 m

EBIT margin, %

0%0%0%0%1%1%1%1%1%1%5%

Interest expense

150.3 m110.8 m

Interest income

157.3 m138 m

Pre tax profit

(8.5 m)(7 m)(31.1 m)

Income tax expense

85 k640 k419 k627 k389 k1.2 m151 k(3.9 m)(209 k)(40 k)(52 k)39 k

Net Income

2.7 m(7.3 m)(9.2 m)(7.4 m)(6.4 m)(4.1 m)950 k4.1 m(81.4 m)(36.5 m)(29.8 m)

Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

49.3 m869.8 m623.5 m515.6 m

Accounts Receivable

16 m24.3 m38.1 m40.3 m

PP&E

12.6 m27.1 m55.9 m89.3 m

Goodwill

72.6 m72.7 m35.6 m

Total Assets

1.9 b3.9 b5.8 b5.6 b

Accounts Payable

4.5 m5.9 m5.5 m10.9 m

Total Liabilities

4.6 b

Preferred Stock

103.2 m103.2 m

Additional Paid-in Capital

15 m1.1 b1.1 b1.2 b

Retained Earnings

(50.3 m)(83.2 m)(88.2 m)(234.2 m)

Total Equity

68.1 m973.2 m1 b975.8 m

Financial Leverage

28.5 x4 x5.6 x5.7 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Cash

62.2 m64.6 m69 m82.7 m874.1 m490.5 m579.2 m583.8 m572.9 m520.8 m534.5 m538.4 m405.1 m

PP&E

8.4 m15 m19.4 m23.7 m31.3 m39.1 m47.1 m64.2 m75.1 m82.6 m92.3 m97.9 m107.2 m

Goodwill

72.7 m72.6 m72.7 m72.7 m72.7 m72.7 m37.3 m35.6 m35.6 m35.6 m35.6 m

Total Assets

1.6 b2.2 b2.6 b2.8 b4.3 b4.8 b5.4 b5.9 b5.6 b5.6 b5.2 b5 b4.3 b

Accounts Payable

2.3 m3.2 m4 m3.4 m3.9 m5.1 m3.8 m5.9 m7.7 m7.7 m7.5 m13.5 m3.4 m

Total Liabilities

1.5 b2.2 b2.4 b2.7 b3.3 b3.8 b4.3 b4.9 b4.6 b4.6 b4.3 b4 b3.3 b

Preferred Stock

103.2 m103.2 m173.7 m177.3 m

Additional Paid-in Capital

11.7 m23.1 m30 m37.8 m1.1 b1.1 b1.1 b1.2 b1.2 b1.2 b1.3 b1.3 b1.3 b

Retained Earnings

(53.2 m)(57.6 m)(66.8 m)(74.2 m)(89.6 m)(93.7 m)(92.8 m)(84.1 m)(165.4 m)(201.9 m)(265.4 m)(290.9 m)(420.6 m)

Total Equity

(41.4 m)68.8 m137.1 m141.5 m995.9 m1 b1.1 b988 m976.5 m972.4 m984 m915.1 m

Financial Leverage

-39 x32.4 x18.8 x19.9 x4.8 x5.3 x5.7 x5.7 x5.7 x5.4 x5.1 x4.7 x

Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

(4.2 m)(4.2 m)(5 m)(146 m)

Depreciation and Amortization

236 k236 k21.6 m29.9 m

Accounts Receivable

(3.2 m)(3.2 m)(14 m)(2.2 m)

Accounts Payable

330 k330 k(598 k)5.6 m

Cash From Operating Activities

(393 k)(393 k)74.7 m545 k

Purchases of PP&E

(419.2 m)(76 m)

Cash From Investing Activities

(441.1 m)(441.1 m)(2.4 b)(423 m)

Cash From Financing Activities

462.8 m462.8 m2.1 b314.5 m

Interest Paid

52.5 m52.5 m536.4 m684.8 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Net Income

2.7 m(7.3 m)(9.2 m)(7.4 m)(6.4 m)(4.1 m)950 k4.1 m(81.4 m)(36.5 m)(29.8 m)

Depreciation and Amortization

4.7 m21.1 m11.7 m

Accounts Receivable

21.2 m22.3 m(2.3 m)32.6 m36.5 m39.1 m40.3 m40.8 m35.6 m5.4 m

Accounts Payable

4 m3.4 m(1.8 m)5.1 m3.8 m5.9 m7.7 m7.7 m7.5 m1.6 m(6.1 m)

Cash From Operating Activities

6.5 m(30.7 m)13.7 m

Purchases of PP&E

(1 b)(293.5 m)

Cash From Investing Activities

(478.7 m)364.1 m229.7 m

Cash From Financing Activities

476.6 m(310.6 m)(255.8 m)

Interest Paid

110.6 m314 m116.3 m

Ratios

USDY, 2018

Financial Leverage

4.7 x
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Operating Metrics

Lending Club's Total Loans was reported to be $28.8b in Q2, 2017.
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