PowerPoint Presentation · 25% 30% 35% $200 $220 $240 $260 $280 $300 $320 $340 $360 $380 $400 4Q...
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Transcript of PowerPoint Presentation · 25% 30% 35% $200 $220 $240 $260 $280 $300 $320 $340 $360 $380 $400 4Q...
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6.5%6.8% 6.6%
6.0%5.6%
4Q '17 1Q '18 2Q '18 3Q '18 4Q '18
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35.6%36.1%
36.5% 36.6%
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$72 $74 $80
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Net Interest Income Average Interest Earning Assets Net Interest Margin
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$266 $267$278
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$440 $485 $543
$594 $597
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$344 $296
$420 $252 $246
$1,042 $1,039
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Warehouse Securitization Corporate Debt Excess Capacity Capacity Utilization
$71 $70 $74 $71$60
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$67$52 $44
$59
$52$51
$20
$17$21
$48
$41 $56
$194
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2016 2017 2018
Sales & Marketing Technology & Analytics Processing & Servicing
General & Administrative Noteworthy Items
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47% 45%61%
43% 40%
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$546
$591 $587
$648 $658
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* 2019 Guidance as provided on February 12, 2019. Reproduction of this slide should not be deemed an affirmation or republication of the guidance.
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($ millions)
As of December 31, 2018
Borrower Type Maturity DateWeighted Average
Interest RatePrincipal Outstanding Borrowing Capacity
OnDeck Asset Securitization Trust II LLC Securitization April 2022 (1) 3.8% $225 $225
OnDeck Account Recievables Trust 2013-1 LLC Revolving March 2019 5.1% $118 $214
Recievable Assets of OnDeck, LLC Revolving September 2021 (2) 4.7% $114 $120
OnDeck Asset Funding II LLC Revolving August 2022 (3) 5.3% $110 $175
Prime OnDeck Recievable Trust II, LLC Revolving March 2019 5.0% $109 $125
Loan Assets of OnDeck, LLC Revolving October 2022 (4) 4.3% $100 $100
On Deck Capital, Inc. Revolving January 2019 (5)(6) 6.5% - $30
Other Agreements Various Various (7) Various $47 $79
Total Debt 4.7% $822 $1,068
($ thousands, except per share data)Dec 31,
2017
Mar 31,
2018
Jun 30,
2018
Sep 30,
2018
Dec 31,
2018
Net income (loss) $5,096 ($1,918) $5,790 $9,769 $14,039
Adjustments:
Stock-based compensation expense 2,994 3,210 2,794 2,848 2,967
Real estate disposition charges - 4,187 - - -
Severance and executive transition expenses - 911 - - -
Debt Extinguishment Costs - - 1,384 550 -
Sales Tax Refund - - - - (1,097)
Adjusted Net income (loss) (1) (2) $8,090 $6,390 $9,968 $13,167 $15,909
Adjusted Net income (loss) per share (3)
Basic $0.11 $0.09 $0.13 $0.18 $0.21
Diluted $0.10 $0.08 $0.13 $0.17 $0.20
Weighted-average common shares outstanding:
Basic 73,708,613 73,977,241 74,385,446 74,715,592 75,504,595
Diluted 77,153,920 77,352,294 78,288,267 79,372,491 79,591,252
Quarter Ended
($ thousands)
2016 2017 2018
Total Operating Expense $193,974 $166,170 $177,490
Gross Revenue 291,317 350,950 398,376
Efficiency Ratio 66.6% 47.3% 44.6%
Stock-based compensation expense 15,915 12,515 11,819
Real estate disposition charges - - 4,187
Severance and executive transition expenses - 3,183 911
Debt Extinguishment Costs - - 1,935
Sales Tax Refund - - (1,097)
Operating Expense Less Noteworthy Items $178,059 $150,472 $159,735
Gross Revenue 291,317 350,950 398,376
Adjusted Efficiency Ratio (1) 61.1% 42.9% 40.1%
Year Ended
($ millions)
Low High Low High
Net income attributable to On Deck Capital, Inc.
common stockholders$2 $6 $20 $30
Stock based compensation (after tax) 3 3 10 10
Adjusted Net income (1)(2) $5 $9 $30 $40
Twelve Months Ending,
December 31, 2019
Three Months Ending,
March 31, 2019
