Published on 3 May 2024 on GuruFocus.com via Yahoo Finance
Revenue: Reported at $160.9 million for Q1 2024, falling short of estimates of $194.88 million.Net Loss: Recorded at $90.1 million, an improvement from the previous year's $110.3 million, and slightly lower than the estimated loss of $91.04 million.Earnings Per Share (EPS): Reported a loss of $0.57 per share, better than the estimated loss of $0.73 per share.Adjusted EBITDA: Increased significantly to $46.4 million from $14.6 million in the same quarter last year, indicating improved operational efficiency.Interest Income: Grew to $35.7 million, up from $24.8 million in Q1 2023, driven by a larger customer loan portfolio.Cash Position: Ended the quarter with $487.5 million in total cash, including restricted and unrestricted cash, demonstrating strong liquidity.Guidance: Lowered full year 2024 customer additions forecast, while reaffirming guidance for Adjusted EBITDA, interest income, and principal proceeds from customer notes receivable.
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