GAAP Net Loss of $(22.6) million, relative to GAAP Net Income of $2.7 million in the prior-year period, driven by non-cash business combination-related accountingĪdjusted EBITDA of $7.8 million, relative to $11.5 million in the prior-year period, primarily driven by incremental public company costs and continued operational investmentĪdjusted Net Income of $4.9 million or $0.03 per fully-diluted share, relative to Adjusted Net Income of $9.3 million in the prior-year period Total Revenue of $30.1 million, an 11% increase from the prior-year period Total Funded Loans of $593 million, compared with $581 million in the prior-year period "We believe this program will drive long-term value for our shareholders and represents an attractive and efficient use of the excess cash we generate through our profitable, capital-light business model, while ensuring we remain well-capitalized to execute on our planned growth initiatives." "I am also pleased that our Board has approved a $50 million Share Repurchase Program," added Potere. "Despite macro industry uncertainties, we are on track to continue delivering on our growth strategy in 2022." “We started the year with solid double-digit Total Revenue growth relative to the first quarter of 2021, funded loans exceeding the top end of our guidance range and significant improvements in our total platform fee margin," said Matt Potere, Chief Executive Officer of Sunlight. (“Sunlight Financial”, "Sunlight" or the “Company”) (NYSE: SUNL), a premier, technology-enabled point-of-sale financing company, today provided financial results for the first quarter 2022. NEW YORK & CHARLOTTE, N.C.-( BUSINESS WIRE)-Sunlight Financial Holdings Inc.
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