Lendingtree Inc ( (TREE) ) has released its Q3 earnings. Here is a breakdown of the information Lendingtree Inc presented to its investors.
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LendingTree, Inc., headquartered in Charlotte, NC, operates as a leading online financial services marketplace in the United States, connecting consumers with a wide array of loan, credit card, and insurance offers through its platform of approximately 400 financial partners.
In the third quarter of 2024, LendingTree reported a robust revenue growth of 68%, driven significantly by its Insurance segment, which experienced an impressive 210% increase in revenue compared to the previous year. Despite these gains, the company posted a GAAP net loss of $58 million, largely due to non-cash impairment charges.
Key financial highlights included a consolidated revenue of $260.8 million and an adjusted EBITDA of $26.9 million, reflecting a 23% year-over-year increase. The Insurance segment contributed $169.1 million to the revenue, while the Consumer segment saw a 32% rise in small business revenue. However, the Home segment experienced a slight decline in revenue.
Looking forward, LendingTree’s management remains optimistic, anticipating continued growth and improved financial results. They expect the stabilizing margins in the Insurance segment and potential easing of interest rates to positively impact both the Consumer and Home segments in 2025, while maintaining expense discipline and strategic investments for optimized performance.
