XML 21 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Non-Interest Revenue:        
Origination fees $ 25,245 $ 8,973 $ 55,229 $ 19,418
Servicing fees 942 479 2,461 1,341
Management fees 869 225 2,082 476
Other revenue 349 137 4,718 255
Total Non-Interest Revenue 27,405 9,814 64,490 21,490
Net Interest Income:        
Total interest income 51,386 18,490 124,771 44,704
Total interest expense (51,370) (18,259) (124,727) (44,222)
Net Interest Income 16 231 44 482
(Provision)/Benefit for loan losses on Member Loans at amortized cost   (7)   33
Fair valuation adjustments, Member Loans (15,613) (7,248) (37,877) (15,551)
Fair valuation adjustments, Notes and Certificates 15,607 7,107 37,848 15,322
Net Interest Income after provision for loan losses and fair value adjustments 10 83 15 286
Total Revenue 27,415 9,897 64,505 21,776
Operating Expenses:        
Sales and marketing (10,460) (4,743) (26,577) (12,151)
Origination and servicing (4,996) (1,929) (11,045) (5,138)
General and administrative (9,331) (4,107) (22,433) (10,517)
Total Operating Expenses (24,787) (10,779) (60,055) (27,806)
Income (loss) before provision for income taxes 2,628 (882) 4,450 (6,030)
Income tax benefit 85      
Net Income (Loss) $ 2,713 $ (882) $ 4,450 $ (6,030)
Basic net income (loss) per share attributable to common stockholders   $ (0.09)   $ (0.62)
Diluted net income (loss) per share attributable to common stockholders   $ (0.09)   $ (0.62)
Weighted-average shares of common stock used in computing basic net income (loss) per share 13,328,103 10,300,351 12,614,487 9,739,922
Weighted-average shares of common stock used in computing diluted net income (loss) per share 80,346,432 10,300,351 80,160,536 9,739,922