Anytime you see "adjusted" in front of an earnings number, that means the "real" number is far worse. To me this 2015 earnings guidance is the most troubling.

OnDeck provided the following guidance for the three months ending March 31, 2015 and year ending December 31, 2015.

First Quarter 2015

Gross revenue between $52 million and $54 million
Adjusted EBITDA between a loss of $2 million and a loss of $3 million

Full Year 2015

Gross revenue between $254 million and $258 million
Adjusted EBITDA between a loss of $2 million and a loss of $4 million