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OnDeck Capital's net loss widens in Q1

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OnDeck Capital's net loss widens in Q1

OnDeck CapitalInc. reported a GAAP net loss attributable to common stockholders of$12.6 million, or 18 cents per share, for the first quarter, versus a net loss of$5.3 million, or 8 cents per share, in the prior-year quarter.

The adjusted net loss was $8.8 million, or 13 cents per share,compared with a loss of $3.3 million, or 5 cents per share, in the year-ago period.

The S&P Capital IQ consensus normalized estimate for thequarter was a loss of 8 cents per share.

For the second quarter, OnDeck expects gross revenue of between$67 million and $70 million. It also anticipates adjusted EBITDA to be between aloss of $16 million and a loss of $18 million.

For the full year 2016, the company now expects gross revenueof between $278 million and $288 million and adjusted EBITDA between a loss of $41million and a loss of $49 million. The company previously expected gross revenue between $320 million and $328 millionand adjusted EBITDA between $10 million and $14 million.