Prosper Files 10-K for 2013

[Xenon481]

http://www.sec.gov/Archives/edgar/data/1416265/000114036114014832/form10k.htm" class="bbc_link" target="_blank">http://www.sec.gov/Archives/edgar/data/1416265/000114036114014832/form10k.htm

Q2 2009 - Loss before other income: $2,617,400
Q3 2009 - Loss before other income: $2,289,092
Q4 2009 - Loss before other income: $2,868,908
Q1 2010 - Loss before other income: $2,747,524
Q2 2010 - Loss before other income: $2,787,434
Q3 2010 - Loss before other income: $2,404,217
Q4 2010 - Loss before other income: $2,566,804
Q1 2011 - Loss before other income: $3,097,283
Q2 2011 - Loss before other income: $2,837,560
Q3 2011 - Loss before other income: $2,837,290
Q4 2011 - Loss before other income: $3,519,037
Q1 2012 - Loss before other income: $4,690,488
Q2 2012 - Loss before other income: $3,545,603
Q3 2012 - Loss before other income: $4,448,773
Q4 2012 - Loss before other income: $4,764,596
Q1 2013 - Loss before other income: $4,516,630
Q2 2013 - Loss before other income: $16,175,000 * and **
Q3 2013 - Loss before other income: $5,375,000
Q4 2013 - Loss before other income: $3,146,000

* = Prosper recorded the entire $10million settlement cost in Q2 of 2013.
** = Prosper's Q2 2013 quarterly operating loss (not counting the $10million settlement) is $6,175,000.

- Q4 2013 is Prosper's lowest quarterly loss since Q3 2011.
- As of 12-31-2013, Prosper had "Cash and cash equivalents" of ~$18million before making any payments to the Class Action Settlement.
- Prosper spent ~$13million in "Compensation and benefits" in 2013; ~27% higher than in 2012.
- Prosper spent almost $15million in in "Marketing and advertising" in 2013; over 2.6x as much as 2012.
- Not including the class action settlement, Prosper lost ~$1.8million more in 2013 than they did in 2012 even though Net Revenues were ~$10million higher (~3x 2012).
- Prosper spent ~44% more in "Facilities and maintenance" in 2013 than 2012.

The new management may have finally found a way to reduce Prosper's hemorrhaging of VC money, but only one quarter of not-as-bad numbers isn't a very significant dataset. We should know a lot more next month once Prosper releases their 10-Q for Q1 2014.

[Peter]

Hi Xenon,

Thanks for continuing to share these numbers. As you say it is an improvement and I expect we will see a vastly more improved bottom line in the next 10-Q. I hope you will continue to post these numbers here so we can all see the dramatic turnaround of Prosper in 2014, as this is what I expect to see.

[core]

They lost a little bit less last quarter.  It seems this new management team is a bunch of slackers!  After they're all settled in and put some more effort into it, I'm sure they'll be able to set some more records.

[Galli]

Hopefully VC are thirsty for some more risk, Prosper need to raise cash here pretty soon to continue at the pace they're going.

[rawraw]

https://forum.lendacademy.com/index.php?topic=2194.msg18838#msg88888888Quote"> from: Galli on April 04, 2014, 09:21:26 AM

[SeattleSun]

On the eve of the LendIt Conference Prosper has announced their largest investment round ever. They have closed on a $70 million round from Francisco Partners, Institutional Venture Partners and Phenomen Ventures.

This monster round comes on the heels of Prosper crossing $100 million in loans issued in April and the $1 billon milestone just one month ago. It has clearly been a good year for Prosper so far.

[TravelingPennies]

https://forum.lendacademy.com/index.php?topic=2194.msg19680#msg88888888Quote"> from: SeattleSun on May 05, 2014, 11:21:55 AM