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๐ ๐๐๐ฌ๐ฎ๐ฅ๐ญ๐ฌ
โข Revenue & Other Income: $390M (Est. $383.07M) โ , +12% YoY.
โข GAAP Net Income: $50M, +$27M YoY.
โข Operating Income: $113M, +41% YoY.
โข Adj. EBITDA: $130M, +22% YoY.
โข Network Volume: $3.6B, +29% YoY.
โข Fee Revenue Less Production Costs: $146M, +5% YoY.
โข FRLPC Margin: 4.1%, -91 bps YoY.
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๐ฏ ๐๐ฎ๐ข๐๐๐ง๐๐
โข Q4 Revenue & Other Income: $355Mโ$405M, midpoint $380M (Est. $376.07M) โ .
โข Q4 Adj. EBITDA: $117Mโ$137M.
โข Q4 GAAP Net Income: $42Mโ$62M.
โข FY2026 Revenue & Other Income: $1.45Bโ$1.50B, midpoint $1.475B (Est. $1.46B) โ .
โข FY2026 Adj. EBITDA: $465Mโ$485M.
โข FY2026 GAAP Net Income: $162Mโ$182M, raised.
โข FY2026 Network Volume: $12.725Bโ$13.025B.
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๐ ๐๐๐ฒ ๐๐๐ค๐๐๐ฐ๐๐ฒ๐ฌ
โข Q3 revenue exceeded consensus by ~1.8%, reaching a record $390M.
โข Network volume increased 29% to a record $3.6B, driven by Auto and Personal Loans.
โข Operating income surged 41% to $113M, reflecting operating leverage.
โข FRLPC margin declined 91 bps to 4.1%, pressured by higher benchmark interest rates.
โข Added Citizens Financial Group and First National Bank of Omaha, bringing new partners onboarded over the past 12 months to seven.
โข Secured over $2B in longer-duration committed funding across Auto and Personal Loan facilities.
โข Q4 network volume guidance of $2.96Bโ$3.26B implies a sequential decline from Q3.
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๐ฌ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐จ๐ฆ๐ฆ๐๐ง๐ญ๐๐ซ๐ฒ
โOur momentum is building on itself: more partners, more products, and more applications feeding a network that is becoming essential infrastructure for consumer lending.โ