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ATLANTA–(BUSINESS WIRE)–Nov 6, 2018–GreenSky, Inc. (“GreenSky” or the “Company”) (NASDAQ: GSKY), a arch banking technology aggregation Powering Business at the Point of Sale SM, today appear banking after-effects for its third budgetary division concluded September 30, 2018.



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“With almanac achievement this quarter, we connected a able budgetary 2018 in agreement of both advance and profitability,” said David Zalik, Chairman and CEO of GreenSky. “We are in the aboriginal stages of biting addressable home improvement, constituent healthcare and e-commerce calm markets that, in the aggregate, beat $1 trillion. As we attending ahead, we advance our acute focus on innovation, while recalibrating our abounding year expectations to reflect advancing fourth division melancholia headwinds, accompanying with a abundant steeper crop ambit than initially advancing as we entered the year. Notwithstanding, I abide to be assured in GreenSky’s adeptness to bear aberrant growth, advantage and chargeless banknote flow.”

Financial highlights(1):

Transaction accumulated grew 33 percent to $1.40 billion from $1.05 billion in the third division of 2017.Revenue grew 29 percent to $113.9 actor from $88.3 actor in the third division of 2017.GAAP Net assets was $45.7 million, or $0.20 per adulterated share, and reflects tax amount alone on the allocation of GreenSky’s antithesis attributable to the C-corporation ownership.Pro Forma Net assets was $38.8 million, or $0.21 per adulterated share, net of tax, and adapted for non-recurring costs at an affected able tax amount of 21.8 percent.Adjusted EBITDA added by 27 percent to $58.9 actor from $46.4 actor in the third division of 2017. Adapted EBITDA allowance was 52 percent in the third division of 2018, constant with the third division of 2017.As of September 30, 2018, complete banknote totaled $294.3 million.



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Business update:

Bank Partner Commitments

The Aggregation added two new coffer partners, Chicago-based BMO Harris Bank, a wholly-owned accessory of Coffer of Montreal (the eighth bigger coffer in North America), and Troy, Michigan-based Flagstar Bank, FSB to its lending bunch back the end of the added quarter. Combined with increases in allotment commitments by absolute Aggregation coffer partners, the Aggregation has accumulated commitments of $11.5 billion today, or an access of $3.5 billion back June 30, 2018.

American Express Alliance

American Express cross-marketing of the GreenSky technology belvedere to Amex card-accepting home advance merchants commenced in aboriginal September, with added than 1,000 Amex merchant referrals accustomed during the accomplished 8 weeks.Development and affiliation of the GreenSky technology appropriate to barrage the Amex customer absolute chapter accommodation pilot is on-track for a admission in the aboriginal division of budgetary 2019 in the afterward bristles cities: Atlanta, Chicago, Dallas, Los Angeles, and Tampa. Notably, Amex will be business a awful adorable promotional home advance accommodation “powered by GreenSky” to baddest pre-approved American Express agenda associates with such loans to be adjourned by American Express Bank, FSB.Integration of the American Express vPayment basic payments arrangement is able-bodied underway, which will acquiesce GreenSky Affairs borrowers to transact and achieve with merchants over American Express rails.

2018 Banking Guidance:

Based on the Company’s achievement through the end of the third quarter, and accustomed bazaar conditions, GreenSky now expects the afterward for abounding year 2018:

Transaction accumulated to access amid 30 and 35 percent to amid $4.9 and $5.1 billion.Adjusted EBITDA to abound amid 4 and 10 percent to amid $165 and $175 million.

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2019 Banking Guidance:

Based on the Company’s budgetary 2018 expectations and budgetary 2019 planning, GreenSky expects the afterward for abounding year 2019:

Transaction accumulated to access 28 to 36 percent over budgetary 2018 to amid $6.4 and $6.8 billion.Adjusted EBITDA to abound amid 23 and 32 percent over budgetary 2018 to amid $210 and $225 million.

Share Repurchase Program:

The Aggregation today appear that its Board of Directors has accustomed the repurchase of up to $150 actor of the Company’s Class A accustomed stock. Repurchases may be fabricated at management’s acumen from time to time on the accessible bazaar or through abreast adjourned transactions. The repurchase affairs has no time absolute and may be abeyant for periods or discontinued at any time. Any shares acquired will be accessible for accustomed accumulated purposes. The Aggregation had about 189.2 actor shares of Class A accustomed banal outstanding on a absolutely adulterated base as of September 30, 2018. “We are admiring that GreenSky’s able antithesis area and banknote flows accredit us to acknowledgment amount to shareholders through allotment repurchases, while at the aforementioned time continuing to advance in centralized and alien opportunities that will added drive abiding growth,” said Robert Partlow, Chief Banking Officer. “In ablaze of the perceived cogent about-face amid the accustomed bazaar amount and the built-in amount of the Company’s Class A accustomed shares, GreenSky’s Board of Directors and administration aggregation accept that the Company’s shares are an adorable advance and opportunistically repurchasing banal is an important allotment of our basic allocation strategy.”

Conference alarm and webcast:

As ahead announced, the Company’s administration will host a appointment alarm to altercate third division 2018 after-effects at 8:00 a.m. EDT today. A alive webcast of the appointment call, calm with a accelerate presentation that includes added banking advice and reconciliations of assertive non-GAAP measures to their best anon commensurable GAAP measures, can be accessed through the Company’s Investor Relations website at http://investors.greensky.com. A epitomize of the webcast will be accessible aural 2 hours of the achievement of the alarm and will be archived at the aforementioned area for one year.

About GreenSky, Inc.

GreenSky, Inc. (NASDAQ: GSKY) is a arch technology aggregation Powering Business at the Point of Sale SM for a growing ecosystem of merchants, consumers and banks. Our awful scalable, proprietary technology platform enables over 14,000 merchants to action bland promotional acquittal options to consumers, active added sales accumulated and accelerated banknote flow. Banks advantage GreenSky’s technology to accommodate loans to super-prime and prime consumers nationwide. Back our inception, about 2.1 actor consumers accept financed over $15 billion of business application our paperless, absolute time “apply and buy” technology. GreenSky is headquartered in Atlanta, Georgia. For added information, appointment https://www.greensky.com.

Forward-Looking Statements

This columnist absolution contains advanced statements that reflect our accustomed angle with account to, amid added things, our operations and banking performance; advance in our ecosystem of merchants, consumers and coffer partners; and cardinal relationships (including with American Express). You about can analyze these statements by the use of words such as “outlook,” “potential,” “continue,” “may,” “seek,” “approximately,” “predict,” “believe,” “expect,” “plan,” “intend,” “estimate” or “anticipate” and agnate expressions or the abrogating versions of these words or commensurable words, as able-bodied as approaching or codicillary verbs such as “will,” “should,” “would,” “likely” and “could.” These statements are accountable to assertive risks and uncertainties that could account absolute after-effects to alter materially from those included in the advanced statements. These risks and uncertainties accommodate those risks declared in our filings with the Balance and Exchange Commission and include, but are not bound to, risks accompanying to our adeptness to absorb existing, and allure new, merchants and coffer partners; our approaching banking performance, including trends in revenue, amount of revenue, gross accumulation or gross margin, operating expenses, and chargeless banknote flow; changes in bazaar absorption rates; increases in accommodation delinquencies; our adeptness to accomplish auspiciously in a awful adapted industry; the aftereffect of administration changes; cyberattacks and aegis vulnerabilities in our articles and services; and our adeptness to attempt auspiciously in awful aggressive markets. The advanced statements allege alone as of the date on which they are made, and, except to the admeasurement appropriate by federal balance laws, we abandon any obligation to amend any advanced account to reflect contest or affairs afterwards the date on which the account is fabricated or to reflect the accident of hasty events. In ablaze of these risks and uncertainties, there is no affirmation that the contest or after-effects appropriate by the advanced statements will in actuality occur, and you should not abode disproportionate assurance on these advanced statements.

Non-GAAP Banking Measures

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This columnist absolution presents advice about the Company’s Adapted EBITDA, Pro Forma Net Assets and Pro Forma Adulterated EPS, which are non-GAAP banking measures provided as a supplement to the after-effects provided in accordance with accounting attempt about accustomed in the United States of America (“GAAP”). We accept that Adapted EBITDA is one of the key banking indicators of our business achievement over the continued appellation and provides advantageous advice apropos whether banknote provided by operating activities is acceptable to advance and abound our business. We accept that this alignment for free Adapted EBITDA can accommodate advantageous added advice to advice investors bigger accept the economics of our platform. We accept that Pro Forma Net Assets and Pro Forma Adulterated EPS are advantageous measures because they accomplish our after-effects added anon commensurable to accessible companies that accept the all-inclusive majority of their antithesis accountable to accumulated assets taxation. We are presenting these non-GAAP measures to abetment investors in evaluating our banking achievement and because we accept that these measures accommodate an added apparatus for investors to use in comparing our amount banking achievement over assorted periods with added companies in our industry.

These non-GAAP measures are presented for added advisory purposes alone and should not be advised a acting for banking advice presented in accordance with GAAP. These non-GAAP measures accept limitations as analytic accoutrement and should not be advised in abreast or as a acting for assay of added GAAP banking measures. The non-GAAP measures GreenSky uses may alter from the non-GAAP measures acclimated by added companies. A adaptation of anniversary of the above actual non-GAAP banking measures to the best anon commensurable actual GAAP banking admeasurement is provided beneath for anniversary of the budgetary periods indicated.

(tables follow)

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View antecedent adaptation on businesswire.com:https://www.businesswire.com/news/home/20181106005279/en/

CONTACT: GreenSky, Inc.

Investor Relations

Rebecca Gardy, 404-334-7334

Rebecca.gardy@greensky.com

or

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Media

Edelman

Julia Sahin, 212-738-6131

media@greensky.com

KEYWORD: UNITED STATES NORTH AMERICA GEORGIA

INDUSTRY KEYWORD: TECHNOLOGY MOBILE/WIRELESS PROFESSIONAL SERVICES BANKING FINANCE

SOURCE: GreenSky, Inc.

Copyright Business Wire 2018.

PUB: 11/06/2018 07:00 AM/DISC: 11/06/2018 07:01 AM

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