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Unaudited Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenue:        
Interest income $ 50,248 $ 32,864 $ 98,947 $ 59,212
Gain on sales of loans 11,710 1,584 18,389 2,927
Other revenue 1,354 1,054 2,434 1,925
Gross revenue 63,312 35,502 119,770 64,064
Cost of revenue:        
Provision for loan losses 15,526 13,073 38,626 29,652
Funding costs 4,771 3,801 9,816 8,441
Total cost of revenue 20,297 16,874 48,442 38,093
Net revenue 43,015 18,628 71,328 25,971
Operating expense:        
Sales and marketing 14,981 7,113 27,656 13,474
Technology and analytics 10,206 3,799 18,794 6,708
Processing and servicing 3,015 2,084 5,717 3,693
General and administrative 9,991 4,434 19,576 7,826
Total operating expense 38,193 17,430 71,743 31,701
Income (loss) from operations 4,822 1,198 (415) (5,730)
Other expense:        
Interest expense (74) (62) (180) (219)
Warrant liability fair value adjustment 0 (2,190) 0 (8,822)
Total other expense (74) (2,252) (180) (9,041)
Income (loss) before provision for income taxes 4,748 (1,054) (595) (14,771)
Provision for income taxes 0 0 0 0
Net income (loss) 4,748 (1,054) (595) (14,771)
Accretion of dividends on redeemable convertible preferred stock 0 (3,596) 0 (6,200)
Net loss attributable to noncontrolling interest 232 0 232 0
Net income (loss) attributable to On Deck Capital, Inc. common stockholders $ 4,980 $ (4,650) $ (363) $ (20,971)
Net income (loss) per share attributable to On Deck Capital, Inc. common stockholders:        
Basic (in dollars per share) $ 0.07 $ (0.88) $ (0.01) $ (4.21)
Diluted (in dollars per share) $ 0.07 $ (0.88) $ (0.01) $ (4.21)
Weighted-average common shares outstanding:        
Basic (shares) 69,479,737 5,262,317 69,366,278 4,983,554
Diluted (shares) 75,680,290 5,262,317 69,366,278 4,983,554