Author Topic: Prosper Files 10-Q for Q1-2014  (Read 2012 times)

Xenon481

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Prosper Files 10-Q for Q1-2014
« on: May 14, 2014, 10:15:45 PM »
http://www.sec.gov/Archives/edgar/data/1416265/000114036114020960/form10q.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
Q1 2014 - Loss before other income: $2,465,000

* = 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.

- Q1-2014 is Prosper's lowest quarterly loss since Q3-2010.
- As of 3-31-2014, Prosper had "Cash and cash equivalents" of ~$13million before making any payments to the Class Action Settlement. (Note, this is before the latest round of VC funding)
- Prosper spent ~$3.9million in "Compensation and benefits". This is 55% higher than in Q1-2013.
- Prosper spent ~$6million on "Marketing and Advertising". This is ~4x the amount spent in Q1-2013 and puts them on pace to be ~60% higher than total in 2013.
- "Professional Services" spending is down by ~$0.5million compared to Q1-2013, likely due to decreased lawyer fees as the Class Action Settlement takes less resources than actively fighting.
- "Facilities and Maintenance" costs are up by ~43% compared to Q1-2013.
The Motley Fool says to Avoid Prosper Like The Plague.

Read about historical Prosper actions/problems at Prospers.org

Peter

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Re: Prosper Files 10-Q for Q1-2014
« Reply #1 on: May 15, 2014, 03:53:06 PM »
Q1 2014 - Loss before other income: $2,465,000

Hi Xenon, I appreciate you continuing to provide these numbers for all of us. Although just including a net loss number provides a very limited picture. Let's add just a little more color by comparing revenue for Q1 2013 with Q1 2014 as well:
Q1 2013
Revenue: $1,845,000
Expenses: $6,220,000
Loss Before Other Income: ($4,375,000)

Q1 2014
Revenue: $9,876,000
Expenses: $12,341,000
Loss Before Other Income: ($2,465,000)

So, revenue went up year over year more than 5 times and yet expenses did not even double. Looks like to me they have turned the corner.
« Last Edit: May 15, 2014, 03:55:39 PM by Peter »
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