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New words:
accommodate, Adversary, AP, Barry, Bernstein, bore, Brad, Cernahosci, Christine, contemporaneously, coupon, drove, Edinburg, Elizabeth, Emil, enriched, enterprise, Geoffrey, Handler, Henry, Jan, John, Joseph, Jr, Laurentiu, longevity, nonfinancial, notified, Olivia, opposition, Overnight, Ovidiu, penalty, Potere, recipient, recommendation, residual, Rodney, Romeo, SOFR, Stice, suspension, Timothy, unexpectedly, unfavorable, unjustly, Wassenaar, Wilson, Yoder
Removed:
achieving, al, attorney, behavior, Border, Brio, Cambodia, China, circumvention, commerce, consummation, continuation, Ct, cycle, deceptive, deploy, disposable, Dist, erode, expiry, extend, forced, importation, imported, imposed, initiated, investigation, involuntary, judicial, length, Malaysia, manage, manufacturer, Minn, Minnesota, misconduct, occurrence, perception, permission, permitting, polysilicon, premier, Presidential, prevention, prospective, Pure, pursue, qualified, recessionary, referenced, release, request, selectively, Thailand, Uyghur, vertical, Vietnam, violation, voluntary, weak, widespread, withhold, Xinjiang
Financial report summary
?Competition
ITCManagement Discussion
- Revenue decreased by $59.2 million for the three months ended June 30, 2023 as compared to the three months ended June 30, 2022, primarily due to the rapid interest rate increases that occurred in 2022 and a significant increase in reliance on Sunlight’s Indirect Channel, where loans are subject to additional risk of rising interest rates between the time that underlying Indirect Channel Loans are credit approved and when Sunlight is able to monetize Indirect Channel Loans through third-party loan sales. For the three months ended June 30, 2023, these sales resulted in negative platform fees of $37.3 million compared with platform fees of $2.7 million during the three months ended June 30, 2022 that occurred as interest rates began to rise during 2022. Sunlight’s revenue excludes amounts earned through its facilitation of Indirect Channel home improvement loan originations, which Sunlight presents as realized gains or losses on contract derivatives, until December 2022 when the derivative was terminated.