Key Highlights

  • Marble Financial Inc. (“company”, “Marble”) reported total revenue of $0.23 million for Q3-2019, a QoQ increase of 63%, and a YoY increase of 36%. Interest revenue of net loans receivable (“NLR”) were 23.34% and 21.08% for Q3-2019, and the nine months (“9M”) of 2019, respectively. In anticpation of a lower interest rate environment, we are revising our interest revenue of NLR for 2019 to 22.50% (previously 23.65%) and for 2020 to 23.50% (previously 24%).
  • In Q3-2019, the company sourced 96 new loans (our estimate: 99) Subsequent to Q3-2019, the company sourced 94 new loans (our estimate: 150). We are revising our average receivables of $2.88 million for 2019 to $2.56 million. In addition, we are revising our average receivables for 2020 from $9.40 million to $8.82 million.
  • Given that we currently do not have insight as to client demand for Score-Up, we are revising our 2019 revenue forecast from Score-Up to $40,000 (previously $80,000). Our 2020 revenue forecast from Score-Up and Credit Meds remains unchanged at $0.10 million.
  • We are revising our 2019 and 2020 total revenue forecast to $0.80 million (previously $0.82 million) and $2.44 million (previously $2.57 million), respectively.
  • The net loss for Q3-2019 was $0.73 million (EPS: -$0.01) versus $0.60 million (EPS: -$0.01) for Q2-2019, and $0.49 million (EPS: -$0.01) for Q3-2018. We are revising our net loss forecast for 2019 from -$2.06 million (EPS: -$0.04) to -$2.49 million (EPS: -$0.04), and for 2020 from -$1.65 million (EPS: -$0.03) to -$2.14 million (EPS: -$0.04).

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