PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170...
Transcript of PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170...
![Page 1: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/1.jpg)
![Page 2: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/2.jpg)
![Page 3: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/3.jpg)
![Page 4: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/4.jpg)
![Page 5: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/5.jpg)
![Page 6: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/6.jpg)
•
•
•
•
•
•
•
![Page 7: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/7.jpg)
![Page 8: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/8.jpg)
•
•
•
•
![Page 9: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/9.jpg)
)
ꞌ
![Page 10: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/10.jpg)
LTV
CAC
Total Return
$0
$0
$0
$1
$1
$1
$1
LTV
CAC
Total Return
$0
$0
$0
$1
$1
$1
$1
LTV
CAC
Total Return
$0
$0
$0
$1
$1
$1
$1
![Page 11: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/11.jpg)
•
•
•
•
•
•
![Page 12: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/12.jpg)
![Page 13: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/13.jpg)
•
•
•
−
−
−
−
−
−
![Page 14: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/14.jpg)
6.5%6.8% 6.6%
6.0%5.6%
4Q '17 1Q '18 2Q '18 3Q '18 4Q '18
34.8%
35.6%36.1%
36.5% 36.6%
4Q '17 1Q '18 2Q '18 3Q '18 4Q '18
$72 $74 $80
$88 $94
27%28%
28%29%
30%
10%
15%
20%
25%
30%
($40)
($20)
$0
$20
$40
$60
$80
$100
$120
$140
4Q '17 1Q '18 2Q '18 3Q '18 4Q '18
Net Interest Income Average Interest Earning Assets Net Interest Margin
![Page 15: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/15.jpg)
•
•
•
•
•
•
•
![Page 16: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/16.jpg)
$266 $267$278
$290
$304
27%26% 26% 26%
26%
10%
15%
20%
25%
30%
35%
$200
$220
$240
$260
$280
$300
$320
$340
$360
$380
$400
4Q '17 1Q '18 2Q '18 3Q '18 4Q '18
$440 $485 $543
$594 $597
$250 $250
$225 $225 $225
$344 $296
$420 $252 $246
$1,042 $1,039
$1,188
$1,070 $1,068
66%71%
65%
77% 77%
-100%
-80%
-60%
-40%
-20%
0%
20%
40%
60%
80%
$-
$200
$400
$600
$800
$1,000
$1,200
$1,400
4Q '17 1Q '18 2Q '18 3Q '18 4Q '18
Warehouse Securitization Corporate Debt Excess Capacity Capacity Utilization
$71 $70 $74 $71$60
4Q '17 1Q '18 2Q '18 3Q '18 4Q '18
![Page 17: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/17.jpg)
$67$52 $44
$59
$52$51
$20
$17$21
$48
$41 $56
$194
$166
$177
2016 2017 2018
Sales & Marketing Technology & Analytics Processing & Servicing
General & Administrative Noteworthy Items
67%
47% 45%61%
43% 40%
•
•
![Page 18: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/18.jpg)
$5
($2)
$6
$10
$14
4Q '17
$0.07
1Q '18
$(0.03)
2Q '18
$0.07
3Q '18
$0.12
4Q '18
$0.18EPS
$8
$6
$10
$13
$16
4Q '17
$0.10
1Q '18
$0.08
2Q '18
$0.13
3Q '18
$0.17
4Q '18
$0.20EPS
4Q '17 1Q '18 2Q '18 3Q '18 4Q '184Q '17 1Q '18 2Q '18 3Q '18 4Q '18
![Page 19: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/19.jpg)
![Page 20: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/20.jpg)
$546
$591 $587
$648 $658
4Q '17 1Q '18 2Q '18 3Q '18 4Q '18
![Page 21: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/21.jpg)
•
•
•
•
−
−
•
−
−
−
•
![Page 22: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/22.jpg)
•
•
•
•
•
•
•
•
−
−
−
−
![Page 23: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/23.jpg)
•
•
•
•
•
−
−
• →
• →
• →
![Page 24: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/24.jpg)
•
•
•
•
•
•
•
![Page 25: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/25.jpg)
•▪
▪
▪
•▪ →
▪ →
▪ →
▪ →
▪ →
•▪
▪
▪
•▪
▪
* 2019 Guidance as provided on February 12, 2019. Reproduction of this slide should not be deemed an affirmation or republication of the guidance.
![Page 26: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/26.jpg)
•
•
•
•
•
•
•
•
![Page 27: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/27.jpg)
![Page 28: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/28.jpg)
($ 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 $1,068
![Page 29: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/29.jpg)
($ 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 $0.20
Weighted-average common shares outstanding:
Basic 73,708,613 73,977,241 74,385,446 74,715,592 75,504,595
Diluted 77,153,920 77,352,294 78,288,267 79,372,491 79,591,252
Quarter Ended
![Page 30: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/30.jpg)
($ 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 $159,735
Gross Revenue 291,317 350,950 398,376
Adjusted Efficiency Ratio (1) 61.1% 42.9% 40.1%
Year Ended
![Page 31: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/31.jpg)
($ 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 $40
Twelve Months Ending,
December 31, 2019
Three Months Ending,
March 31, 2019
![Page 32: PowerPoint Presentation...($ thousands) 2016 2017 2018 Total Operating Expense $193,974 $166,170 $177,490 Gross Revenue 291,317 350,950 398,376](https://reader034.fdocuments.us/reader034/viewer/2022042312/5edb3740ad6a402d66654ecf/html5/thumbnails/32.jpg)