Propel Holdings Inc. (T:PRL)
Business Focus: Consumer Lending (NEC)
| Sector: Financials | Industry: Consumer Lending |
| Company Contact | |
| Address: | 69 Yonge Street, Suite 1500 TORONTO ON M5E 1K3 |
| Tel: | N/A |
| Website: | https://www.propelholdings.com |
| IR: | See website |
| Key People | ||
| Gary Edelstein President | Bradley Sherk Vice President - Operations and Shared Services | Clive Kinross Chief Executive Officer, Director |
| Sheldon Saidakovsky Chief Financial Officer, Executive Vice President | Jonathan Goler Executive Vice President, Chief Risk Officer | Noah Buchman Executive Vice President; President of Credit Fresh |
| Sarika Ahluwalia Senior Vice President - Corporate Affairs, Chief Compliance Officer | Jay Vaghela Senior Vice President, General Counsel, Corporate Secretary | Robert Joe Vice President - Finance | Jonathan Krauklis Vice President - Operations |
| Business Overview |
| Propel Holdings Inc. is a Canada-based financial technology (fintech) company focused on credit inclusion by facilitating access to credit through its online lending platform. The Company, through its brands, offers credit solutions to consumers in Canada and the United States. Through its end-to-end, artificial intelligence (AI)-powered online lending platform, it facilitates access to credit products for underserved American and Canadian consumers who struggle to access credit from mainstream credit providers. It operates three consumer-facing brands, which directly offer or facilitate access to credit: MoneyKey and CreditFresh in the United States and Fora Credit in Canada, in addition to the Pathward Lending-as-a-Service program. The two types of credit products available through the Propel platform are Installment Loans and Lines of Credit. In the United States, the MoneyKey direct lending program and CreditFresh Bank Programs are supported by two revolving credit facilities. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Propel Holdings Inc revenues increased 40% to $316.5M. Net income increased 84% to $27.8M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net income benefited from FV/Uls Adjust on Derivatives for Hedging increase from $62K (expense) to $593K (income), General and administrative decrease of 2% to $8.7M (expense). |
| Employees: | 462 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $1,032M as of Dec 31, 2023 |
| Annual revenue (TTM): | $436.03M as of Dec 31, 2023 |
| EBITDA (TTM): | $95.98M as of Dec 31, 2023 |
| Net annual income (TTM): | $38.27M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$58.58M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $261.58M as of Dec 31, 2023 |
| Shares outstanding: | 34,330,312 as of Apr 29, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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