Quote Originally Posted by Ryan Shiroky View Post
Indeed. The day they are profitable they are going to start pushing that IPO. And as you said, its going to be the single worst thing they have ever done/desired.

What I don't understand... they are #2 in the space, HOW THE HELL are they NOT PROFITABLE?!?!?!? I don't see overhead as being a good excuse...
My guess is that they are not profitable on a GAAP basis due to the accounting standards for Revenue Recognition and Loan Loss Reserves...This leads to little to no profit in high growth periods (i.e. their entire existence as a company.) I'm sure they're making positive returns in excess of cost of capital and overhead on their portfolio. Investors will be just fine.