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LendingTree
🇺🇸 NASDAQ:TREE
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OverviewEarningsDividends
•
Dec 31, 2023

LendingTree Q4 2023 Earnings Report

Reported solid results despite ongoing pressure from higher interest rates and persistent inflation. The company simplified operations, reduced costs, and improved technology.

Key Takeaways

LendingTree reported Q4 2023 results with a consolidated revenue of $134.4 million and a net income of $12.7 million, or $0.98 per diluted share. The company focused on simplifying operations and reducing costs amidst adverse economic conditions.

Consolidated revenue reached $134.4 million.

GAAP net income was $12.7 million, translating to $0.98 per diluted share.

Variable marketing margin stood at $60.6 million.

Adjusted EBITDA amounted to $15.5 million.

Total Revenue
$134M
Previous year: $202M
-33.5%
EPS
$0.28
Previous year: $0.38
-26.3%
Variable Marketing Margin
$60.6M
Gross Profit
$126M
Previous year: $189M
-33.0%
Cash and Equivalents
$112M
Previous year: $299M
-62.5%
Total Assets
$803M
Previous year: $1.2B
-33.1%

LendingTree

LendingTree

LendingTree Revenue by Segment

Forward Guidance

LendingTree issued its outlook for the first-quarter and full-year 2024.

Positive Outlook

  • First-quarter 2024 revenue is expected to be $158 - $168 million.
  • First-quarter 2024 Variable Marketing Margin is projected at $66 - $72 million.
  • First-quarter 2024 Adjusted EBITDA is anticipated to be $17 - $21 million.
  • Full-year 2024 Adjusted EBITDA is anticipated to be in the range of $85 - $95 million, an increase of 8% to 21% from 2023.
  • Strong revenue growth in Insurance segment driven by the uptick in carrier demand for new policy growth.

Challenges Ahead

  • Full-year 2024 revenue is anticipated to be in the range of $650 - $690 million, representing a decline of 3% to an increase of 3% compared to 2023.
  • Full-year 2024 Variable Marketing Margin is expected to be in the range of $280 - $300 million, which is flat to an increase of 7% versus 2023.
  • Full-year 2024 outlook assumes Home segment revenue remains depressed, with higher interest rates continuing to impact origination volumes.
  • Consumer segment is expected to decline as well, as we expect lender appetite for new customers will not strengthen until the second half of 2024.
  • Variable Marketing Margin as a percent of revenue to remain in the range of 40-45%.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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