The Ledger
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Burnside predicts LendingPoint will reach $120M in net profit in 2022
“We're making money. We'll, we'll make a hundred plus this year. A hundred million net. Yeah. A hundred, a 120.”
Burnside projects LendingPoint will hit $600M in net revenue for 2022
“And we'll be around six hundred million this year.”
Burnside: LendingPoint loan originations reached $2.1B in 2021
“We grew a 144% year over year, 20 to 21. ... We went to 2.1 billion And 21 which is a, you know, a huge you know, a huge growth, but we slowed down a little bit during COVID in 2020. But then we had, you know, just significance would close a little under a bil…”
Burnside: LendingPoint generated $330M in net revenue in 2021
“Here in 2021, we were at about three hundred and thirty million. ... This is basically, this is our net revenue, right?”
Burnside: LendingPoint can reach at least $1.5B in debt capacity
“We can easily get to a billion to 1,000,000,005 with what we have right now. It's a combination of warehouses, ABSs, forward flows, you know, bank commitments, things of that sort that make that happen. But you know, we know we can get to at least a 1,000,000,…”
Burnside: LendingPoint crossed $500M in annual originations in 2019
“We hit that in twenty-nineteen.”
LendingPoint: 25% to 30% of customer base comes from renewals
“Right now about 25 to 30% of our base runs in renewals, just renewals alone.”