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Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenue:        
Interest income $ 48,624 $ 40,661 $ 147,571 $ 99,873
Gain on sales of loans 16,789 1,642 35,178 4,569
Other revenue 1,985 1,206 4,418 3,131
Gross revenue 67,398 43,509 187,167 107,573
Cost of revenue:        
Provision for loan losses 16,239 17,359 54,865 47,011
Funding costs 5,126 4,090 14,941 12,531
Total cost of revenue 21,365 21,449 69,806 59,542
Net revenue 46,033 22,060 117,361 48,031
Operating expense:        
Sales and marketing 15,847 8,325 43,503 21,799
Technology and analytics 11,111 4,649 29,904 11,357
Processing and servicing 3,352 2,235 9,070 5,928
General and administrative 12,146 6,142 31,722 13,968
Total operating expense 42,456 21,351 114,199 53,052
Income (loss) from operations 3,577 709 3,162 (5,021)
Other expense:        
Interest expense (70) (55) (250) (274)
Warrant liability fair value adjustment 0 (300) 0 (9,122)
Total other expense (70) (355) (250) (9,396)
Income (loss) before provision for income taxes 3,507 354 2,912 (14,417)
Provision for income taxes 0 0 0 0
Net income (loss) 3,507 354 2,912 (14,417)
Accretion of dividends on redeemable convertible preferred stock 0 (3,628) 0 (9,828)
Net loss attributable to noncontrolling interest 226 0 458 0
Net income (loss) attributable to On Deck Capital, Inc. common stockholders $ 3,733 $ (3,274) $ 3,370 $ (24,245)
Net income (loss) per share attributable to On Deck Capital, Inc. common stockholders:        
Basic (in dollars per share) $ 0.05 $ (0.51) $ 0.05 $ (4.43)
Diluted (in dollars per share) $ 0.05 $ (0.51) $ 0.04 $ (4.43)
Weighted-average common shares outstanding:        
Basic (shares) 69,678,742 6,424,586 69,472,636 5,470,998
Diluted (shares) 75,125,740 6,424,586 75,414,348 5,470,998
Comprehensive income (loss):        
Foreign currency translation adjustment $ (1,215) $ 0 $ (1,215) $ 0
Comprehensive income (loss) 2,292 354 1,697 (14,417)
Comprehensive loss attributable to noncontrolling interests 546 0 546 0
Comprehensive income (loss) attributable to On Deck Capital, Inc. common stockholders $ 3,064 $ 354 $ 2,701 $ (14,417)