Limited Bank Adoption RiskThe loan origination system focuses on a narrow set of loan types, which may limit adoption by large banks that favor broad, balance-sheet solutions and constrain enterprise growth.
Take Rate CompressionExpansion into auto lending and faster growth of first-lien home loans is likely to put modest downward pressure on the company's take rate, which could weigh on margins.
Valuation GapThe stock trades at a significantly higher valuation than comparable peers, reducing upside appeal if growth expectations do not accelerate further.