GreenSky is an online lending marketplace for home improvement that went public under the thicker GSKY already in the second quarter of 2018, back in May, starting at the opening price of 23$ per share and having their IPO evaluated at 4.4 billion dollars.
The company managed to raise 874 million dollars with their IPO and is currently following an upward trend with the latest closing almost a year later after GreenSky went public for the first time.
However, even though GreenSky shares jumped by 1.34% with the latest closing in the second quarter of 2019, the share price of GSKY is trading lower in oppose to its opening price in May 2018.
GreenSky Shares (GSKY): How Well is GreenSky Doing in the Market?
On March 5th, GreenSky published their financial reports for full year 2018, stating that the company made 128 million dollars in net income, with transaction volumes rising up to 5.03 billion dollars at an increase of 34%.
The chairman and CEO of GreenSky, David Zalik, stated that he is pleased with the results for fiscal year 2018, stating that the company is still showing favorable growth rates and increasing profitability, sharing his enthusiasm on entering the fiscal year of 2019.
Fourth quarter revenue for 2018 jumped by 22% in oppose to 2017, which means that GreenSky reported 109.7 million dollars in revenue in oppose to 89.9 million dollars generated in fiscal year 2017.
The company also has commitments with bank partners, adding in the report that they had aggregated 11.8 billion in commitments, of which 4.8 billion dollars remain unused.
GreenSky is said to be able to deliver growth and profitability to their shareholders through low prices for customers and strong recurring revenues, also seeing improvements in the share price since November 2018 when GSKY shares dropped below 10$ before rising back up to 13$ at the beginning of Q2.