On deck capital, inc. (ONDK)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14
Cash flows from operating activities
Net income (loss)

-60,038

7,997

8,142

2,168

5,328

13,261

9,338

4,472

-2,436

3,823

-4,532

-2,569

-11,602

-36,460

-17,173

-18,708

-13,141

-5,143

3,507

4,748

-5,343

-4,291

354

-1,054

-13,717

Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Provision for credit losses

107,907

-

-

-

43,291

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for credit losses

-

-

-

-

-

39,853

39,102

33,293

36,293

34,431

39,582

32,733

46,180

55,669

36,586

32,271

25,437

19,998

16,239

15,525

23,101

20,421

17,359

13,073

16,579

Depreciation and amortization

1,630

1,251

1,608

1,826

1,748

1,570

2,014

2,044

2,174

2,328

2,451

2,576

2,596

2,575

2,452

2,357

2,078

1,887

1,678

1,565

1,378

1,223

1,093

877

878

Amortization of debt issuance costs

955

1,308

724

771

802

1,081

1,819

2,526

1,230

1,029

903

1,077

797

805

764

2,276

693

707

798

644

688

666

528

815

667

Stock-based compensation

1,416

2,272

2,361

3,588

2,743

2,967

2,848

2,794

3,210

2,994

3,056

2,974

3,491

4,492

3,761

3,910

3,752

-

-

-

2,042

1,395

810

404

233

Warrant liability fair value adjustment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

301

2,194

6,632

Amortization of net deferred origination costs

-15,544

-15,247

-16,431

-17,445

-17,832

-16,480

-15,142

-14,100

-12,399

-12,336

-11,771

-12,765

-11,883

-10,203

-9,829

-8,627

-7,381

-6,898

-7,724

-9,042

-9,275

-7,901

-7,044

-6,750

-5,572

Changes in servicing rights, at fair value

0

0

0

0

-69

-67

-35

-57

-131

-657

-347

-392

-701

-923

-1,000

-1,299

-1,775

-1,270

0

0

0

-

-

-

-

Gain on sales of loans

-

-

-

-

-

-

-

-

-

595

146

260

1,484

1,817

2,670

2,813

7,111

18,176

16,789

11,710

6,679

-

-

-

-

Unfunded loan commitment reserve

0

1,011

-155

404

48

609

189

469

171

308

-40

148

119

98

220

448

-1,073

1,007

1,108

369

438

-

-

-

-

Provision for unfunded loan commitment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

80

39

32

Common stock warrant issuance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

64

Gain on extinguishment of debt

-

-

-

-

-

-

-

-

-

0

40

43

229

432

378

262

300

239

134

48

0

-

-

-

-

Gain on lease termination

-

-

-

-

-

0

0

0

1,481

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Loss on disposal of fixed assets

0

-1,662

0

-863

-674

-70

1

0

-5,668

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of intangibles

122

142

170

189

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Other assets

5,177

4,937

527

5,814

3,781

-2,092

5,065

-1,485

3,484

-2,662

-1,732

746

-1,120

721

1,239

-3,012

2,994

1,216

2,230

4,340

4,483

-1,305

3,045

376

565

Accounts payable

518

3,063

-2,086

640

859

-1,442

1,564

1,049

364

-244

-2,651

1,529

-1,231

1,184

211

-1,647

2,822

177

-2,887

774

2,172

-985

2,072

848

-336

Interest payable

781

-300

-53

-67

369

317

-442

145

99

117

-193

-204

488

539

454

184

188

62

32

-118

-38

102

127

-367

-163

Accrued expenses and other liabilities

-6,249

2,970

409

2,620

-1,007

6,233

-2,630

2,463

-471

2,789

-72

484

-8,053

6,424

-615

648

-877

5,721

2,961

7,235

117

2,140

2,457

1,254

183

Originations of loans held for sale

-

-

-

-

-

-

-

-

-

5,324

3,068

8,379

33,042

66,181

70,870

55,329

111,878

131,834

118,015

102,193

93,926

63,578

23,323

22,666

31,011

Capitalized net deferred origination costs of loans held for sale

-

-

-

-

-

-

-

-

-

539

178

39

911

2,195

2,305

2,184

3,585

5,459

4,188

5,124

2,830

-

-

-

-

Proceeds from sale of loans held for sale

-

-

-

-

-

-

-

-

-

5,542

3,191

9,404

33,326

68,576

76,008

57,184

112,859

146,539

138,800

102,457

101,568

70,534

23,888

30,297

29,351

Principal repayments of loans held for sale

-

-

-

-

-

-

-

-

-

96

35

282

722

1,046

1,175

1,191

3,823

3,541

7,093

971

693

559

197

253

338

Net cash provided by operating activities

57,409

75,717

70,120

67,584

68,975

83,158

63,913

64,897

53,867

62,410

52,148

52,124

44,871

44,728

37,210

32,464

19,849

29,257

39,404

22,113

28,173

33,956

28,406

26,097

14,737

Cash flows from investing activities
Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,011

7,125

-5,772

2,954

7,240

2,217

-3,396

6,833

7,608

-1,860

2,025

Purchases of property, equipment and software

2,370

145

1,684

824

536

381

-18

382

313

211

48

936

145

303

843

648

4,846

8,577

1,219

2,290

1,606

165

2,598

3,304

1,509

Capitalized internal-use software

2,766

-

-

-

1,379

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Originations of loans and finance receivables, excluding rollovers into new originations

510,613

-

-

-

537,147

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of fixed assets

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Capitalized internal-use software

-

-

-

-

-

1,647

1,274

1,066

1,398

693

402

605

1,219

943

1,092

1,340

1,270

978

965

1,185

1,069

1,330

889

729

519

Originations of loans and finance receivables, excluding rollovers into new originations

-

-

-

-

-

548,911

557,263

509,851

499,775

455,711

445,048

387,928

469,913

492,893

470,738

472,305

390,149

353,218

297,593

249,104

262,622

252,965

245,539

192,166

167,627

Proceeds from sale of loans held for investment

-

-

-

-

-

-

-

-

-

12,430

2,388

0

10,008

18,549

15,863

24,326

17,049

71,007

47,106

58,901

0

-

-

-

-

Payments of net deferred origination costs

17,030

17,628

18,293

14,976

18,529

19,533

17,191

15,765

14,193

13,386

11,430

9,003

12,314

14,173

11,876

11,188

9,845

7,775

3,246

8,086

9,246

10,102

8,523

7,163

8,465

Principal repayments of loans and finance receivables

426,014

-

-

-

469,894

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal repayments of loans and finance receivables

-

-

-

-

-

463,953

458,541

448,503

417,034

418,444

415,798

414,899

389,976

351,195

333,772

298,068

249,237

232,633

228,290

217,461

194,167

174,079

152,801

124,574

95,175

Purchase of loans

-

-

-

-

-

-

-

-

-

110

0

212

13,518

-1

0

6,672

0

-

-

-

-

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

201

186

0

0

0

-

-

-

-

Net cash used in investing activities

-106,765

-95,432

-82,770

-37,715

-87,697

-106,519

-117,169

-79,362

-98,645

-39,237

-38,742

16,215

-97,125

-134,203

-137,925

-176,884

-134,253

-70,048

-34,867

13,480

-76,980

-97,316

-112,356

-76,928

-84,970

Cash flows from financing activities
Tax withholding related to vesting of restricted stock units

229

649

175

844

291

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investments by noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

3,443

-

-

-

0

-

-

-

-

-

-

-

-

Repurchases of common stock

32,862

-

-

-

0

-

-

-

119

-864

220

439

205

279

322

254

0

-

-

-

-

-

-

-

-

Issuance of common stock under employee stock purchase plan

0

-

-

-

1,281

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options and warrants

15

-1

28

26

45

2

37

0

39

-36

143

152

195

66

27

-21

125

24

40

37

150

581

3,689

176

179

Payments of initial public offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,845

2,239

0

0

0

Redemption of common stock and warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3

0

0

184

-

-

-

0

Issuance of common stock under employee stock purchase plan

-

-

-

-

-

0

767

-96

764

0

592

0

1,246

0

1,119

0

1,487

1,825

0

0

0

-

-

-

-

Proceeds from the issuance of redeemable convertible preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

77,000

Proceeds from the issuance of debt

261,743

299,798

105,786

145,051

210,789

61,649

290,338

337,811

69,373

-

-

-

-

-

-

-

-

-

-

-

-

-

87,609

261,628

79,298

Payments of debt issuance costs

155

2,056

470

-285

3,097

574

1,712

3,674

74

880

-56

796

2,488

1,626

915

3,556

184

505

52

1,126

7

759

971

3,989

4

Repayments of debt principal

126,323

256,851

75,312

176,543

182,849

55,158

234,758

318,226

24,602

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by financing activities

102,189

7,280

19,780

-32,025

25,878

3,135

54,312

18,896

45,381

-29,216

-24,532

-74,264

65,516

89,492

108,339

85,938

90,959

34,011

-17,075

-23,980

-3,424

261,151

87,609

47,706

87,671

Effect of exchange rate changes on cash and cash equivalents

541

-37

130

-481

-77

-2,359

716

-1,104

-303

-154

45

358

421

-442

261

-298

466

889

-1,441

-123

0

-

-

-

-

Net increase (decrease) in cash, cash equivalents and restricted cash

53,374

-12,472

7,260

-2,637

7,079

-22,585

1,772

3,327

300

-6,197

-11,081

-5,567

13,683

-425

7,885

-58,780

-22,979

-5,891

-13,979

11,490

-52,231

197,791

3,659

-3,125

17,438

Supplemental disclosure of other cash flow information
Cash paid for interest

9,582

9,756

10,210

10,151

9,887

20,763

0

10,962

10,483

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for income taxes

30

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for interest

-

-

-

-

-

-

-

-

-

-

-

11,043

10,257

-

6,835

5,338

4,109

3,655

3,652

3,853

4,234

4,002

3,473

3,426

4,067

Supplemental disclosures of non-cash investing and financing activities
Stock-based compensation included in capitalized internal-use software

14

91

70

52

57

113

0

62

68

21

14

48

92

445

378

313

334

280

237

200

160

94

86

53

20

Unpaid principal balance of term loans rolled into new originations

79,740

95,300

101,573

99,838

98,481

200,698

0

76,877

90,810

85,325

82,810

68,056

70,059

72,816

70,949

62,052

67,636

71,715

67,044

67,686

59,488

52,902

44,027

33,235

28,712

Accretion of dividends on redeemable convertible preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,056

3,628

3,595

2,605