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Mar 31, 2025
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.
Revenue by Segment
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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