Revision of Prior Period Financial Statements

During the second quarter of 2019, we revised prior period financial statements to correct an immaterial error related to the channel attribution of certain loans and the commissions associated with those loans. Commissions become due upon the closing of a loan. Those commissions are capitalized as a component of the loan balance and are amortized as an adjustment to interest income over the life of the loan. A summary of those revisions is as follows:

Revised Consolidated Balance Sheet as of December 31, 2018 (in thousands):



	As Reported			Adjustment			As Revised
Loans and finance receivables	$	1,169,157		$	250		$	1,169,407
Total assets	$	1,161,570		$	250		$	1,161,820
Accrued expenses and other liabilities	$	34,654		$	2,054		$	36,708
Total liabilities	$	857,281		$	2,054		$	859,335
Accumulated deficit	$	(195,155	)	$	(1,804	)	$	(196,959	)
Total On Deck Capital, Inc. stockholders' equity	$	299,756		$	(1,804	)	$	297,952
Total stockholders' equity	$	304,289		$	(1,804	)	$	302,485

Revised Consolidated Statements of Operations and Comprehensive Income (in thousands):



	Year Ended December 31, 2018				Year Ended December 31, 2017
	As Reported		Adjustment	As Revised	As Reported		Adjustment	As Revised
Interest and finance income	$383,579		$(635)	$382,944	$334,575		$(535)	$334,040
Gross Revenue	$398,376		$(635)	$397,741	$350,950		$(535)	$350,415
Net Revenue	$202,760	⁽¹⁾	$(635)	$202,125	$151,825	⁽¹⁾	$(535)	$151,290
Income (loss) from operations, before provision for income taxes	$25,270	⁽¹⁾	$(635)	$24,635	$(14,345)	⁽¹⁾	$(535)	$(14,880)
Net income (loss)	$25,270		$(635)	$24,635	$(14,345)		$(535)	$(14,880)

⁽¹⁾ Includes a prior period reclassification to include interest expense as funding costs.

Revised Earnings per Share



	Year Ended December 31, 2018				Year Ended December 31, 2017
	As Reported		As Revised		As Reported			As Revised
Net income (loss) per common share, basic	$	0.37	$	0.36	$	(0.16	)	$	(0.17	)
Net income (loss) per common share, diluted	$	0.35	$	0.34	$	(0.16	)	$	(0.17	)

Revised Consolidated Statements of Cash Flows

We revised our condensed consolidated statement of cash flows for the twelve months ended December 31, 2018 and December 31, 2019 periods to reflect the correction of the error, which had no impact to net cash provided by operating activities, net cash used in investing activities and net cash provided by financing activities in the period.