ELEVATE CREDIT : ANNOUNCES FOURTH QUARTER & FULL YEAR 2019 RESULTS

ELEVATE CREDIT ANNOUNCES FOURTH QUARTER & FULL YEAR 2019 RESULTS

Announces Record Net Income
$20 Million Increase to Share Repurchase Program

FORT WORTH, TX - February 10, 2020 - Elevate Credit, Inc. (NYSE: ELVT) ('Elevate' or the 'Company'), a
leading tech-enabled provider of innovative and responsible online credit solutions for non-prime consumers, today
announced results for the fourth quarter and full year ended December 31, 2019.
'While 2019 was a year of transition, I am very proud of the Company's execution against our strategic goals. We
successfully deployed our new credit models, achieved record net income, and delivered bottom line value to our
shareholders,' said Elevate CEO Jason Harvison. 'Elevate is well positioned to continue this trend in 2020 as we
maintain focus on credit quality and shareholder returns, with an eye on measured growth. We remain wholeheartedly
committed to responsibly serving the enormous needs of underserved American and British non-prime
citizens.'
Fourth Quarter 2019 Financial Highlights1
• Net income: Net income for the three months ended December 31, 2019 totaled $8.3 million, or $0.19 per
diluted share, more than doubling net income of $4.1 million, or $0.09 per diluted share, in the fourth quarter
of 2018.
• Revenue: Revenues decreased 9.8% for the fourth quarter of 2019 totaling $186.9 million compared with
$207.3 million for the fourth quarter of 2018. Despite the drop in top-line revenue, gross profit for the fourth
quarter of 2019 increased $0.3 million to $71.3 million from $71.0 million in the fourth quarter of 2018 due
to improved credit quality and lower customer acquisition costs.
• Combined loans receivable - principal: Combined loans receivable - principal totaled $640.8 million, a
decrease of $7.7 million, or 1.2%, from $648.5 million at the prior year-end.
• Customer acquisition cost: The average customer acquisition cost was $196 in the fourth quarter of 2019,
below the targeted range of $250-$300 and lower than $202 for the prior-year quarter. The total number of
new customer loans decreased from approximately 67,000 in the fourth quarter of 2018 to approximately
52,000 in the fourth quarter of 2019.
• Adjusted EBITDA margin: The Adjusted EBITDA margin for the fourth quarter of 2019 was 16.7%, an
increase from 15.4% in the prior year quarter. Adjusted EBITDA decreased slightly to $31.2 million, down
from $31.9 million in the fourth quarter of 2018.
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1 Adjusted EBITDA, Adjusted EBITDA margin, and combined loans receivable - principal are non-GAAP financial
measures. These terms are defined elsewhere in this release. Please see the schedules appearing later in this release
for reconciliations of these non-GAAP measures to the most directly comparable GAAP measures.