P2P Lending / NFT Lending Forum

http://www.sec.gov/Archives/edgar/data/1416265/000114036114014832/form10k.htm

Q2 2009 - Loss before other income: $2,617,400
Q3 2009 - Loss before other income: $2,289,092
Q4 2009 - Loss before other income: $2,868,908
Q1 2010 - Loss before other income: $2,747,524
Q2 2010 - Loss before other income: $2,787,434
Q3 2010 - Loss before other income: $2,404,217
Q4 2010 - Loss before other income: $2,566,804
Q1 2011 - Loss before other income: $3,097,283
Q2 2011 - Loss before other income: $2,837,560
Q3 2011 - Loss before other income: $2,837,290
Q4 2011 - Loss before other income: $3,519,037
Q1 2012 - Loss before other income: $4,690,488
Q2 2012 - Loss before other income: $3,545,603
Q3 2012 - Loss before other income: $4,448,773
Q4 2012 - Loss before other income: $4,764,596
Q1 2013 - Loss before other income: $4,516,630
Q2 2013 - Loss before other income: $16,175,000 * and **
Q3 2013 - Loss before other income: $5,375,000
Q4 2013 - Loss before other income: $3,146,000

* = Prosper recorded the entire $10million settlement cost in Q2 of 2013.
** = Prosper's Q2 2013 quarterly operating loss (not counting the $10million settlement) is $6,175,000.

- Q4 2013 is Prosper's lowest quarterly loss since Q3 2011.
- As of 12-31-2013, Prosper had "Cash and cash equivalents" of ~$18million before making any payments to the Class Action Settlement.
- Prosper spent ~$13million in "Compensation and benefits" in 2013; ~27% higher than in 2012.
- Prosper spent almost $15million in in "Marketing and advertising" in 2013; over 2.6x as much as 2012.
- Not including the class action settlement, Prosper lost ~$1.8million more in 2013 than they did in 2012 even though Net Revenues were ~$10million higher (~3x 2012).
- Prosper spent ~44% more in "Facilities and maintenance" in 2013 than 2012.

The new management may have finally found a way to reduce Prosper's hemorrhaging of VC money, but only one quarter of not-as-bad numbers isn't a very significant dataset. We should know a lot more next month once Prosper releases their 10-Q for Q1 2014.

Hi Xenon,

Thanks for continuing to share these numbers. As you say it is an improvement and I expect we will see a vastly more improved bottom line in the next 10-Q. I hope you will continue to post these numbers here so we can all see the dramatic turnaround of Prosper in 2014, as this is what I expect to see.

They lost a little bit less last quarter.  It seems this new management team is a bunch of slackers!  After they're all settled in and put some more effort into it, I'm sure they'll be able to set some more records.

Hopefully VC are thirsty for some more risk, Prosper need to raise cash here pretty soon to continue at the pace they're going.

from: Galli on April 04, 2014, 09:21:26 AM

On the eve of the LendIt Conference Prosper has announced their largest investment round ever. They have closed on a $70 million round from Francisco Partners, Institutional Venture Partners and Phenomen Ventures.

This monster round comes on the heels of Prosper crossing $100 million in loans issued in April and the $1 billon milestone just one month ago. It has clearly been a good year for Prosper so far.

from: SeattleSun on May 05, 2014, 11:21:55 AM