Print Page  |  Close Window

SEC Filings

8-K
GREENSKY, INC. filed this Form 8-K on 11/13/2018
Entire Document
 

Transaction Volume is Growing Strongly & Generating Significant Revenue 3 months ended 9/30 Transaction Fees  Increase in transaction fees driven by strong transaction volume growth year over year Servicing and Other  Servicing fees increased in line with an increase in the portfolio serviced for our bank partners Cost of Revenue Origination and Servicing Related  Origination and servicing expenses increased to support strong growth in transaction volume and the loan servicing portfolio FV Change in FCR Liability  Change in the FCR liability reflects normal-course seasonality, loan product mix of originations and seasoning of portfolio Operating Expenses  Growth in sales and marketing continues to support increased brand recognition, merchant communication and GreenSky’s direct-to-consumer strategy Note: Adjusted EBITDA, Pro forma Diluted EPS and Pro forma Net Income are non-GAAP measures. See Appendix for reconciliations to U.S. GAAP. (1) Amounts as presented may not foot due to rounding. 26 ($ millions) 2015 2016 2017 2017 2018 Transaction volume $ 2,076 $ 2,882 $ 3,767 $ 1,049 $ 1,400 Growth 39%31% 28%33% Average loan servicing portfolio $ 2,003 $ 3,156 $ 4,501 $ 4,680 $ 6,573 Growth 58%43% 41%40% ($ millions, except per share data)(1) Transaction fees $ 153 $ 228 $ 279 $ 76 $ 97 Servicing and other 21 35 47 12 17 Total revenue $ 173 $ 264 $ 326 $ 88 $ 114 Cost of revenue (37)(79)(90) (22)(35) Operating expenses (44)(65)(91) (26)(24) Total costs and expenses Operating profit Other income / (expense) Income tax expense Net income Pro forma Net Income Adjusted EBITDA GAAP Diluted EPS Pro forma Diluted EPS Weighted avg. shares outstanding, diluted (millions) ($80)($ 144) ($ 180) ($48)($60) $ 93 $ 120 $ 146 1 5 (7) ---$ 40 $ 54 (2)(5) -(3) $ 94 $ 124 $ 139 ---$ 97 $ 131 $ 159 ---------$ 38 $ 46 32 39 $ 46 $ 59 -$ 0.20 -$ 0.21 -189.2