OnDeck to Announce to Q2 Earnings

| By:

NYSEOnDeck will announce their second quarter earnings today at 5:00 PM EST. Anyone can dial in by calling (877) 201-0168 and using conference ID 80861672.

The company’s executives may have to endure more questions than in previous calls because of the low stock price and the curious guidance reversal issued two weeks ago. After Q1, OnDeck projected Adjusted EBITDA for Q2 to be a loss of $3 million to $4 million. But on July 15th, they revised that to a GAAP net income of between $4 million and $5 million.

The sudden change was attributed to a one-time sale of loans in which the proceeds were booked as revenue.

Compass Point analysts Michael Tarkan and Andrew Eskelsen wrote in a note to clients, “if we exclude the one-time gains, core revenues came in well below our expectations, suggesting a meaningful deceleration in loan origination growth and/or another decline in yields.”

OnDeck closed Friday at $13.37, down 33% from its IPO price, though it’s higher than its all time low of $11.15.

The depressed value has invited a slew of ominous sounding press releases from law firms that questioned whether or not previous statements about the company’s prospects were false or misleading.

The distractions may have been compounded by the false rumor picked up by most of the web that claimed OnDeck was scheduled to release earnings last month on July 6th.

Notably, most analysts have issued Buy recommendations for the stock. Deutsche Bank analyst Ross Sandler set a price target of $18 and Stifel Nicolaus has it at $22. For now, Wall Street is still bullish about OnDeck.

Last modified: August 3, 2015
Sean Murray

Category: Business Lending

Home Business Lending › OnDeck to Announce to Q2 Earnings

    Better Accounting Solutions

    In Advance

    Accord Business Funding

    deBanked CONNECT MIAMI

    Titan Asset Management


    ROK Financial


    Austin LLP

    Forward Financing

    Global Funding Experts

    Amerifi Capital

    Bitty Advance

    National Funding

    Splash Advance

    Spartan Capital

    CFG Merchant Solutions

    SOS Capital

    Balboa Capital


    Merchant Financing Leads

    Avanza Capital

    Green Note Capital

    Meridian Leads

    Select Funding

    Vox Funding

    Dedicated Financial GBC