LDWY Nasdaq· Lendway Inc.
FundamentalsNews digest Peer analysis
LDWY Nasdaq· Lendway Inc.
Earnings report Q3 2023

Lendway, Inc. Reports Decrease in Revenue in Latest Quarter

Segments of revenue

In the latest quarter, Lendway, Inc. reported a decrease in revenue compared to the same period last year. The company's net services revenues for the quarter were $1.98 million, down from $4.87 million in the previous year.


Despite the decrease in revenue, Lendway, Inc. highlighted its focus on building a scalable non-bank lending business (the "Lending Business") as its new strategic direction. The company aims to purchase existing loans or originate and fund new loans, all of which will be secured by collateral. This shift in focus indicates the company's commitment to exploring new growth opportunities and diversifying its revenue streams.


The decrease in revenue can be attributed to the sale of certain assets and liabilities related to the company's legacy business of providing in-store advertising solutions. This divestiture resulted in a decline in net services revenues. Additionally, Lendway, Inc. incurred operating losses of $1.63 million in the quarter, further highlighting the challenges faced by the company.


It is worth noting that Lendway, Inc. experienced a gain from a litigation settlement in the previous year, which significantly impacted its operating income. However, no such gain was reported in the latest quarter, contributing to the operating loss incurred by the company.


Lendway, Inc. faced a decrease in revenue in the latest quarter, primarily due to the sale of assets and liabilities related to its legacy business. The company's strategic shift towards building a scalable non-bank lending business indicates its commitment to exploring new growth opportunities. However, the operating losses incurred in the quarter highlight the challenges faced by the company in its transition.

Source documents

Form 10-Q  filed on Nov 14, 2023
126 pages scanned

Reference data

Company financials Q3 revenue 0
Analyst estimates Q3 EPS missed by NaN%
Sign up to Fey

Get in-depth analysis on thousands of stocks for just $30/month. Cancel anytime.