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Sunlight Financial Reports Third Quarter 2021 Results

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Sunlight Financial reported a 77% increase in Year-over-Year Funded Loan Volume, totaling $639 million, and a 72% rise in Total Revenue to $30 million for Q3 2021. Despite a GAAP Net Loss of $(22.2) million, Adjusted EBITDA grew 97% to $11.4 million. The company faced challenges like supply chain issues but managed to improve its Total Platform Fee Margin to 4.3%. Full-year expectations for Total Funded Loans are now set at $2.45 - $2.55 billion due to continuing industry pressures, while maintaining revenue and EBITDA guidance.

Positive
  • 77% year-over-year growth in Funded Loan Volume to $639 million.
  • 72% increase in Total Revenue reaching $30 million.
  • Adjusted EBITDA rose 97% to $11.4 million.
  • Total Platform Fee Margin improved to 4.3%.
Negative
  • GAAP Net Loss of $(22.2) million, a significant decline from prior year's net income.
  • Reduced full-year 2021 expectation for Total Funded Loans to $2.45 - $2.55 billion due to industry challenges.

- Year-over-Year Funded Loan Volume up 77% to $639 Million -

- Year-over-Year Total Revenue up 72% to $30 Million -

- GAAP Net Loss of $(22.2) Million -

- Adjusted EBITDA nearly doubles to $11.4 Million -

NEW YORK & CHARLOTTE, N.C.--(BUSINESS WIRE)-- Sunlight Financial Holdings Inc. (“Sunlight Financial”, "Sunlight" or the “Company”) (NYSE: SUNL), a premier, technology-enabled point-of-sale financing company, today provided financial results for the third quarter ended September 30, 2021.

“Sunlight continued to see outstanding year-over-year growth in the third quarter of 2021 with Funded Loan Volume up 77% to $639 million," said Matt Potere, Chief Executive Officer of Sunlight. "Although industry-wide issues with supply chains, labor shortages and permitting delays lengthened project installation timelines and impacted funded loans, an increase in our Total Platform Fee Margin to 4.3% partially offset this impact, leading to record-high Total Revenue of $30 million in the third quarter of 2021."

"Our industry-leading credit quality enabled us to add three new capital providers and improve pricing with our existing capital providers this quarter, driving margin improvement and allowing us to offer more attractive pricing to our contractors," added Mr. Potere. "We also launched non-prime solar and home improvement products and improved operational efficiency in Orange® through Robotic Process Automation. Through these and other efforts to build contractor loyalty, we have signed exclusive first look and volume commitments representing over $1 billion of expected funded loan volume in 2022, positioning Sunlight for continued, sustainable growth."

All financial and operating results included in this release reflect the summation of results of the accounting predecessor, Sunlight Financial LLC, from July 1 through July 9 and the successor, Sunlight Financial Holdings Inc., from July 10 through September 30, to reflect the completion of the business combination with Spartan Acquisition Corp. II (“Spartan”), which occurred on July 9, 2021.

Third Quarter 2021 Key Financial Metrics

  • Total Funded Loans of $639 million, up 77% from the prior-year period
  • Total Revenue of $30.0 million, a 72% increase from the prior-year period
  • GAAP Net Loss of $(22.2) million, relative to GAAP Net Income of $4.1 million in the prior-year period, driven by non-cash business combination-related accounting
  • Adjusted EBITDA of $11.4 million, a 97% increase from $5.8 million in the prior-year period
  • Adjusted EBITDA Margin of 37.9%, up materially from 33.1% in the prior-year period
  • Total Platform Fee Margin of 4.3% (up from 4.0% in the prior quarter) and Direct Channel Platform Fee Margin of 5.0% (up from 4.3% in the prior quarter)
  • Free Cash Flow of $4.8 million and cumulative year-to-date Free Cash Flow of $28.8 million

Third Quarter 2021 Key Operational Metrics

  • Number of borrowers increased to 18,189, up 65% from 11,020 borrowers in the prior-year period
  • Contractor relationships grew 54% relative to the prior-year period, with 30 new solar contractors and 62 new home improvement contractors joining the Sunlight platform in the third quarter of 2021
  • Battery attachment rate grew to 24%, compared with 14% in the prior-year period
  • Average loan balance increased 8% year-over-year to $35,398, with a record-high average solar loan balance of $40,991 in the third quarter of 2021
  • As of September 30, 2021, Sunlight had a cumulative funded loan total of $5.4 billion

Full-Year 2021 Outlook

Due to the industry-wide challenges with supply chain, labor, and permitting experienced in the third quarter 2021 and expected to continue in the fourth quarter of 2021, Sunlight is reducing its full-year 2021 expectation for Total Funded Loans to $2.45 - $2.55 billion.

As Sunlight expects continued platform fee margin improvement in the fourth quarter of 2021, the Company is affirming the following previously-provided guidance ranges for full-year 2021 Total Revenue, Adjusted EBITDA, and Adjusted EBITDA margin:

  • Expected 2021 Total Revenue of $113 - $121 million
  • Expected 2021 Adjusted EBITDA of $46 - $51 million
  • Expected 2021 Adjusted EBITDA Margin of 38% - 42%

The mid-points of the 2021 outlook reflect robust year-over-year growth of 70% for funded loans, 68% for Total Revenue, and 102% for Adjusted EBITDA relative to full-year 2020 actual results.

Sunlight will initiate full-year 2022 guidance on its fourth quarter 2021 earnings call in March 2022.

Conference Call Information

Sunlight will host a conference call and webcast to discuss its third quarter 2021 financial and operational results and business outlook at 5:00 PM ET today, November 15, 2021. The conference call will be webcast live from the Company's investor relations website at ir.sunlightfinancial.com. A replay will be available on the investor relations website following the call.

Earnings Presentation

A supplemental earnings presentation is available at ir.sunlightfinancial.com. Additional information is available in the Form 10-Q, which Sunlight filed with the SEC on November 15, 2021.

About Sunlight Financial

Sunlight is a premier, technology-enabled point-of-sale finance company. Sunlight partners with contractors nationwide to provide homeowners with financing for the installation of residential solar systems and other home improvements. Sunlight’s best-in-class technology and deep credit expertise simplify and streamline consumer finance, ensuring a fast and frictionless process for both contractors and homeowners. For more information, visit www.sunlightfinancial.com.

Forward-Looking Statements

The information included herein and in any oral statements made in connection herewith may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act, as amended. Forward-looking statements may generally be identified by the use of words such as “could,” “should,” “would,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “plan,” “continue,” or the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Sunlight disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Sunlight cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Sunlight. Such risks and uncertainties include, among others: risks relating to the uncertainty of the projected operating and financial information with respect to Sunlight; risks related to Sunlight’s business and the timing of expected business milestones or results; global supply chain shortages, competition for skilled labor, and permitting delays; the effects of competition and regulatory risks, and the impacts of changes in legislation or regulations on Sunlight’s future business; the expiration, renewal, modification or replacement of the federal solar investment tax credit, rebates and other incentives; the effects of the COVID-19 pandemic on Sunlight’s business or future results; Sunlight’s ability to sustain profitability and to attract and retain its relationships with third parties, including Sunlight’s capital providers and solar contractors; changes in the retail prices of traditional utility generated electricity; the availability of solar panels, batteries and other components and raw materials; and such other risks and uncertainties discussed in the “Risk Factors” section of Sunlight’s Form 10-Q as filed with the Securities and Exchange Commission (“SEC”) on November 15, 2021, and other documents of Sunlight filed, or to be filed, with the SEC. Should one or more of the risks or uncertainties described herein occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Sunlight’s SEC filings are available publicly on the SEC’s website at www.sec.gov.

Non-GAAP Financial Measures

Some of the operating and financial information and data contained in this press release, such as Total Revenue, Adjusted EBITDA, Adjusted EBITDA Margin, and Free Cash Flow have not been prepared in accordance with United States generally accepted accounting principles (“GAAP”). Sunlight believes these non-GAAP measures of financial and business results provide useful information to management and the reader regarding certain financial and business trends relating to Sunlight’s financial condition and results of operations. Sunlight further believes that the use of these non-GAAP financial and business measures provides an additional tool for use in evaluating projected operating results and trends and in comparing Sunlight’s financial and operating measures with other similar companies, many of which present similar non-GAAP financial and operating measures to their investors and potential investors. While Adjusted EBITDA, in particular, is relevant and widely used across industries and in the industries in which Sunlight participates, they may contain or exclude adjustments, exclusions and one-time items that third parties may or may not adjust for in connection with such measure, and such measure should not be considered an alternative to any GAAP measures in evaluating the profitability of an investment in, or whether to invest in or consummate a transaction involving, Sunlight. The principal limitation of the Adjusted EBITDA non-GAAP financial measure is that it excludes significant items of income and expense that are required by GAAP to be recorded in Sunlight’s financial statements. In addition, it is subject to inherent limitations as it reflects the exercise of judgment by Sunlight’s management about which items of income and expense are excluded or included in determining this non-GAAP financial measure. The Adjusted EBITDA non-GAAP financial measure and other metrics used herein, including Adjusted EBITDA Margin, should not be relied on or considered an alternative to any GAAP measures or other measures related to the liquidity, financial condition or financial results of Sunlight. Reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure can be found in the accompanying tables to this release.

 

SUNLIGHT FINANCIAL HOLDINGS INC.

CONSOLIDATED BALANCE SHEETS

 

dollars in thousands

 

September 30, 2021

 

December 31, 2020

 

(Unaudited)

 

 

Assets

 

 

 

 

Cash and cash equivalents

 

$

72,786

 

 

$

49,583

 

Restricted cash

 

2,259

 

 

3,122

 

Advances (net of allowance for credit losses of $0 and $121)

 

71,310

 

 

35,280

 

Financing receivables (net of allowance for credit losses of $0 and $125)

 

4,789

 

 

5,333

 

Goodwill

 

670,014

 

 

 

Intangible assets, net

 

387,887

 

 

4,533

 

Property and equipment, net

 

1,172

 

 

1,192

 

Due from affiliates

 

367

 

 

 

Other assets

 

21,942

 

 

7,030

 

Total assets

 

$

1,232,526

 

 

$

106,073

 

 

 

 

 

 

Liabilities, Temporary Equity, and Members' Equity

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

Accounts payable and accrued expenses

 

$

20,228

 

 

$

15,782

 

Funding commitments

 

20,987

 

 

18,386

 

Debt

 

20,613

 

 

14,625

 

Distributions payable

 

 

 

7,522

 

Deferred tax liabilities

 

36,081

 

 

 

Due to affiliates

 

817

 

 

 

Warrants, at fair value

 

31,474

 

 

5,643

 

Other liabilities

 

681

 

 

1,502

 

Total liabilities

 

130,881

 

 

63,460

 

 

 

 

 

 

Temporary Equity (Predecessor)

 

 

 

664,516

 

 

 

 

 

 

Stockholders' Equity

 

 

 

 

Other ownership interests' capital (Predecessor)

 

 

 

1,439

 

Class A Common Stock

 

9

 

 

 

Additional paid-in capital

 

724,941

 

 

 

Accumulated deficit

 

(37,789)

 

 

(623,342)

 

Total Capital

 

687,161

 

 

(621,903)

 

Treasury stock, at cost

 

(15,447)

 

 

 

Total Stockholders' Equity

 

671,714

 

 

(621,903)

 

Noncontrolling interests in consolidated subsidiaries

 

429,931

 

 

 

Total Equity

 

1,101,645

 

 

(621,903)

 

 

 

 

 

 

Total Liabilities and Equity

 

$

1,232,526

 

 

$

106,073

 

 

SUNLIGHT FINANCIAL HOLDINGS INC.

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

 

 

 

Combined

 

Successor

 

Predecessor

dollars in thousands

 

For the
Three Months Ended
September 30, 2021

 

For the
Period July 10, 2021
to
September 30, 2021

 

For the Period
July 1, 2021 to
July 9, 2021

 

For the
Three Months Ended
September 30, 2020

 

 

 

 

Revenue

 

$

28,594

 

 

$

26,520

 

 

$

2,074

 

 

$

17,247

 

Costs and Expenses

 

 

 

 

 

 

 

 

Cost of revenues (exclusive of items shown separately below)

 

5,206

 

 

4,841

 

 

365

 

 

3,468

 

Compensation and benefits

 

33,824

 

 

32,782

 

 

1,042

 

 

6,748

 

Selling, general, and administrative

 

3,660

 

 

3,330

 

 

330

 

 

904

 

Property and technology

 

1,664

 

 

1,502

 

 

162

 

 

1,105

 

Depreciation and amortization

 

20,619

 

 

20,541

 

 

78

 

 

812

 

Provision for losses

 

254

 

 

254

 

 

 

 

310

 

Management fees to affiliate

 

4

 

 

 

 

4

 

 

100

 

Total Costs and Expenses

 

65,231

 

 

63,250

 

 

1,981

 

 

13,447

 

Operating income (loss)

 

(36,637)

 

 

(36,730)

 

 

93

 

 

3,800

 

 

 

 

 

 

 

 

 

 

Other Income (Expense), Net

 

 

 

 

 

 

 

 

Interest income

 

86

 

 

77

 

 

9

 

 

94

 

Interest expense

 

(323)

 

 

(291)

 

 

(32)

 

 

(264)

 

Change in fair value of warrant liabilities

 

8,677

 

 

10,116

 

 

(1,439)

 

 

(95)

 

Change in fair value of contract derivatives, net

 

614

 

 

489

 

 

125

 

 

391

 

Realized gains on contract derivatives, net

 

1,383

 

 

1,377

 

 

6

 

 

170

 

Other income (expense)

 

(65)

 

 

(60)

 

 

(5)

 

 

(24)

 

Business combination expenses

 

(1,622)

 

 

(1,093)

 

 

(529)

 

 

 

Total Other Income (Expense), Net

 

8,750

 

 

10,615

 

 

(1,865)

 

 

272

 

Net Income (Loss) Before Income Taxes

 

(27,887)

 

 

(26,115)

 

 

(1,772)

 

 

4,072

 

Income tax benefit (expense)

 

5,684

 

 

5,684

 

 

 

 

 

Net Income (Loss)

 

(22,203)

 

 

(20,431)

 

 

(1,772)

 

 

4,072

 

Noncontrolling interests in loss of consolidated subsidiaries

 

9,108

 

 

9,108

 

 

 

 

 

Net Income (Loss) Attributable to Class A Shareholders

 

$

(13,095)

 

 

$

(11,323)

 

 

$

(1,772)

 

 

$

4,072

 

 

 

 

 

 

 

 

 

 

Loss Per Class A Share

 

 

 

 

 

 

 

 

Net loss per Class A share

 

 

 

 

 

 

 

 

Basic

 

$

(0.13)

 

 

$

(0.13)

 

 

 

 

 

Diluted

 

$

(0.15)

 

 

$

(0.15)

 

 

 

 

 

Weighted average number of Class A shares outstanding

 

 

 

 

 

 

 

 

Basic

 

84,833,808

 

 

84,833,808

 

 

 

 

 

Diluted

 

131,088,438

 

 

131,088,438

 

 

 

 

 

 

SUNLIGHT FINANCIAL HOLDINGS INC.

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

 

 

 

Successor

 

 

Predecessor

dollars in thousands

 

For the
Period July 10, 2021 to
September 30, 2021

 

 

For the
Period January 1, 2021 to
July 9, 2021

 

For the
Nine Months Ended
September 30, 2020

Cash Flows From Operating Activities

 

 

 

 

 

 

 

Net income (loss)

 

$

(20,431)

 

 

 

$

6,131

 

 

$

3,371

 

Adjustments to reconcile net income (loss) to net cash used in operating activities:

 

 

 

 

 

 

 

Depreciation and amortization

 

20,541

 

 

 

1,782

 

 

2,534

 

Provision for losses

 

254

 

 

 

1,172

 

 

788

 

Change in fair value of warrant liabilities

 

(10,116)

 

 

 

5,504

 

 

66

 

Change in fair value of contract derivatives, net

 

(489)

 

 

 

662

 

 

(846)

 

Other expense (income)

 

60

 

 

 

(616)

 

 

414

 

Share-based payment arrangements

 

24,821

 

 

 

18

 

 

112

 

Deferred income tax expense (benefit)

 

(5,684)

 

 

 

 

 

 

Increase (decrease) in operating capital:

 

 

 

 

 

 

 

Increase in advances

 

(28,690)

 

 

 

(7,314)

 

 

(12,913)

 

Decrease (increase) in due from affiliates

 

1,481

 

 

 

(1,839)

 

 

 

Decrease (increase) in other assets

 

(16,444)

 

 

 

2,129

 

 

(544)

 

Increase (decrease) in accounts payable and accrued expenses

 

(12,617)

 

 

 

2,327

 

 

2,329

 

Increase (decrease) in funding commitments

 

(498)

 

 

 

3,100

 

 

(7,594)

 

Increase in due to affiliates

 

 

 

 

761

 

 

 

Increase (decrease) in other liabilities

 

(109)

 

 

 

539

 

 

(64)

 

Net cash provided by (used in) operating activities

 

(47,921)

 

 

 

14,356

 

 

(12,347)

 

 

 

 

 

 

 

 

 

Cash Flows From Investing Activities

 

 

 

 

 

 

 

Return of investments in loan pool participation and loan principal repayments

 

351

 

 

 

832

 

 

971

 

Payments to acquire loans and participations in loan pools

 

(254)

 

 

 

(1,170)

 

 

(2,128)

 

Payments to acquire property and equipment

 

(871)

 

 

 

(1,066)

 

 

(2,533)

 

Payments to acquire Sunlight Financial LLC, net of cash acquired

 

(304,570)

 

 

 

 

 

 

Other payments to acquire Sunlight Financial LLC

 

 

 

 

 

 

 

Net cash used in investing activities

 

(305,344)

 

 

 

(1,404)

 

 

(3,690)

 

 

 

 

 

 

 

 

 

Cash Flows From Financing Activities

 

 

 

 

 

 

 

Proceeds from borrowings under line of credit

 

 

 

 

20,746

 

 

8,713

 

Repayments of borrowings under line of credit

 

 

 

 

(14,758)

 

 

(5,899)

 

Proceeds from issuance of private placement

 

250,000

 

 

 

 

 

 

Payments of stock issuance costs

 

(19,618)

 

 

 

 

 

 

Payments for share-based payment tax withholdings

 

(18,591)

 

 

 

 

 

 

Payment of capital distributions

 

 

 

 

(7,522)

 

 

(1,987)

 

Payment of debt issuance costs

 

 

 

 

(491)

 

 

 

Net cash provided by (used in) financing activities

 

211,791

 

 

 

(2,025)

 

 

827

 

 

 

 

 

 

 

 

 

Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash

 

(141,474)

 

 

 

10,927

 

 

(15,210)

 

 

 

 

 

 

 

 

 

Cash, Cash Equivalents, and Restricted Cash, Beginning of Period

 

216,519

 

 

 

52,705

 

 

51,656

 

 

 

 

 

 

 

 

 

Cash, Cash Equivalents, and Restricted Cash, End of Period

 

$

75,045

 

 

 

$

63,632

 

 

$

36,446

 

 

 

 

 

 

 

 

 

Supplemental Disclosure of Cash Flow Information

 

 

 

 

 

 

 

Cash paid during the period for interest

 

$

263

 

 

 

$

537

 

 

$

558

 

Cash paid during the period for income taxes, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Noncash Investing and Financing Activities

 

 

 

 

 

 

 

Preferred dividends, paid in-kind

 

$

 

 

 

$

58,709

 

 

$

11,962

 

Change in temporary equity redemption value

 

 

 

 

195,665

 

 

279

 

RECONCILIATION OF GAAP MEASURES TO ADJUSTED FINANCIAL MEASURES

 

TOTAL REVENUE RECONCILIATION

 

 

Combined

 

Successor

 

Predecessor

 

 

For the
Three Months Ended
September 30, 2021

 

For the
Period July 10, 2021 to
September 30, 2021

 

For the
Period

July 1, 2021 to
July 9, 2021

 

For the
Three Months Ended
September 30, 2020

dollars in thousands

 

 

 

 

Revenue

 

$

28,594

 

 

$

26,520

 

 

$

2,074

 

 

$

17,247

 

(+) Realized gain on contract derivatives, net

 

1,383

 

 

1,377

 

 

6

 

 

170

 

Total Revenue

 

$

29,977

 

 

$

27,897

 

 

$

2,080

 

 

$

17,417

 

 

ADJUSTED EBITDA AND FREE CASH FLOW RECONCILIATION

 

 

Combined

 

Successor

 

Predecessor

 

 

For the
Three Months Ended
September 30, 2021

 

For the
Period July 10, 2021 to
September 30, 2021

 

For the
Period

July 1, 2021 to
July 9, 2021

 

For the
Three Months Ended
September 30, 2020

dollars in thousands

 

 

 

 

Net Income (Loss)

 

$

(22,203)

 

 

$

(20,431)

 

 

$

(1,772)

 

 

$

4,072

 

Depreciation and amortization

 

20,619

 

 

20,541

 

 

78

 

 

812

 

Interest expense

 

323

 

 

291

 

 

32

 

 

264

 

Income taxes

 

(5,684)

 

 

(5,684)

 

 

 

 

 

Non-cash change in financial instruments

 

(9,252)

 

 

(10,568)

 

 

1,316

 

 

(272)

 

Equity-based compensation

 

24,821

 

 

24,821

 

 

 

 

15

 

Fees paid to brokers

 

1,126

 

 

1,033

 

 

93

 

 

869

 

Expenses from the Business Combination

 

1,622

 

 

1,093

 

 

529

 

 

 

Adjusted EBITDA

 

$

11,372

 

 

$

11,096

 

 

$

276

 

 

$

5,760

 

Interest expense

 

(323)

 

 

(291)

 

 

(32)

 

 

(264)

 

Income taxes

 

5,684

 

 

5,684

 

 

 

 

 

Fees paid to brokers

 

(1,126)

 

 

(1,033)

 

 

(93)

 

 

(869)

 

Expenses from the Business Combination

 

(1,622)

 

 

(1,093)

 

 

(529)

 

 

 

Provision for losses

 

254

 

 

254

 

 

0

 

 

310

 

Changes in operating capital and other

 

(64,910)

 

 

(62,538)

 

 

(2,372)

 

 

(14,662)

 

Net Cash Provided by (Used in) Operating Activities

 

$

(50,671)

 

 

$

(47,921)

 

 

$

(2,750)

 

 

$

(9,725)

 

Capital expenditures

 

(789)

 

 

(560)

 

 

(229)

 

 

(1,668)

 

Changes in advances, net of funding commitments

 

33,402

 

 

29,188

 

 

4,214

 

 

9,534

 

Changes in restricted cash

 

1,602

 

 

1,585

 

 

17

 

 

217

 

Payments of Business Combination costs

 

1,035

 

 

968

 

 

67

 

 

 

Other changes in working capital

 

20,247

 

 

20,638

 

 

(391)

 

 

386

 

Free Cash Flow

 

$

4,826

 

 

$

3,898

 

 

$

928

 

 

$

(1,256)

 

 

Media:

Investor Relations

Lucia Dempsey

investors@sunlightfinancial.com

888.315.0822

Public Relations

media@sunlightfinancial.com

Source: Sunlight Financial Holdings Inc.

FAQ

What were the financial results of Sunlight Financial for Q3 2021?

In Q3 2021, Sunlight Financial reported $639 million in Funded Loans, $30 million in Total Revenue, and an Adjusted EBITDA of $11.4 million.

What is the GAAP net loss for Sunlight Financial in Q3 2021?

Sunlight Financial reported a GAAP net loss of $(22.2) million for Q3 2021.

What is the new full-year 2021 guidance for Total Funded Loans by Sunlight Financial?

Due to ongoing industry challenges, Sunlight Financial revised its full-year 2021 expected Total Funded Loans to $2.45 - $2.55 billion.

When will Sunlight Financial provide 2022 guidance?

Sunlight Financial plans to initiate full-year 2022 guidance during its fourth quarter 2021 earnings call in March 2022.

Sunlight Financial Holdings Inc.

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