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Mar 31
LendingTree Q1 2025 Earnings Report
Revenue Growth Across All Segments Driving Solid Performance
Key Takeaways
LendingTree reported solid performance in the first quarter of 2025, driven by year-over-year revenue growth across all three business segments. While GAAP net income reflected a loss primarily due to an increase in litigation reserves, non-GAAP adjusted net income per share was positive, and Adjusted EBITDA saw a 14% year-over-year increase.
Consolidated revenue for the first quarter of 2025 was $239.7 million, an increase of 43% compared to the first quarter of 2024.
Revenue grew in all three segments year-over-year: Home increased 22%, Consumer increased 9%, and Insurance increased 71%.
Adjusted EBITDA grew 14% year-over-year to $24.6 million.
GAAP net loss was $(12.4) million, or $(0.92) per diluted share, which included a $15 million increase in litigation reserves.
LendingTree
LendingTree
LendingTree Revenue by Segment
Revenue by Segment
Home Revenue
CapyFin.comConsumer Revenue
CapyFin.comInsurance Revenue
CapyFin.com Forward Guidance
LendingTree updated its full-year 2025 financial outlook, lowering revenue, variable marketing margin, and Adjusted EBITDA ranges, and provided guidance for the second quarter of 2025.
Positive Outlook
- Specific revenue guidance of $241 - $248 million provided for the second quarter of 2025.
- Specific variable marketing margin guidance of $80 - $84 million provided for the second quarter of 2025.
- Specific Adjusted EBITDA guidance of $29 - $31 million provided for the second quarter of 2025.
- Specific variable marketing margin guidance of $319 - $332 million provided for the full-year 2025.
- Specific Adjusted EBITDA guidance of $116 - $124 million provided for the full-year 2025.
Challenges Ahead
- Full-year 2025 revenue outlook was lowered from $985 - $1,025 million to $955 - $995 million.
- Full-year 2025 Variable Marketing Margin outlook range was slightly lowered from $319 - $336 million to $319 - $332 million.
- Full-year 2025 Adjusted EBITDA outlook range was slightly lowered from $116 - $126 million to $116 - $124 million.
- Reconciliation of projected non-GAAP measures (variable marketing margin, adjusted EBITDA) to GAAP results is not provided.
- Legal matters and tax considerations are cited as potential significant factors affecting future GAAP results.