Q4 FY2024 results ended on December 31, 2024
- Total net revenue: $217.2M, +17% YoY
- Net income: $9.7M, -4% YoY
- Loan originations: $1.85B, +13% YoY
- Pre-provision net revenue: $74.3M, +34% YoY
CEO Scott Sanborn: "We executed well in 2024, exiting the year with growth in originations, continued credit outperformance, successful new products and experiences, and more than five million members."
🌱Revenue & Growth
- Total net interest income: $142.4M, +8% YoY
- Non-interest income: $74.8M, +38% YoY
- Marketplace revenue: $72.2M, +38% YoY
- Servicing fees: $17.4M, flat YoY
💰Profits & Financials
- Net interest margin: 5.42% vs 6.40% in Q4 2023
- Efficiency ratio: 65.8% vs 70.0% in Q4 2023
- Return on equity: 2.9% vs 3.3% in Q4 2023
- Total deposits: $9.1B, +24% YoY
- Total assets: $10.6B, +20% YoY
📌Business Highlights
- LevelUp Savings reached balances of $1.2B at year end
- 87% of total deposits are FDIC-insured
- Executed $400M loan sale to a new bank buyer