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Jun 30, 2021
LendingClub Q2 2021 Earnings Report
Delivered record net income on revenue growth and raised full year revenue target.
Key Takeaways
LendingClub reported a record net income of $9.4 million for the second quarter of 2021, driven by a 93% increase in total revenue. The company's performance was bolstered by its bank operations and strategic priorities.
Total revenue grew by 93% sequentially, driven by marketplace revenue and increased net interest income.
Marketplace revenue increased by 86% sequentially, reflecting growth in origination fees and gains on loan sales.
Net interest income grew by 148% sequentially to $45.9 million.
Deposits grew to $2.5 billion, supporting growth in the bank's loan portfolio.
Forward Guidance
LendingClub raised its full year targets for loan originations, total revenue, and consolidated net income.
Positive Outlook
- Loan originations are expected to be $2.8B to $3.0B for Q3 2021 and $9.8B to $10.2B for full year 2021.
- Total revenue is expected to be $215M to $230M for Q3 2021 and $750M to $780M for full year 2021.
- Consolidated net income is expected to be $10M to $15M for Q3 2021 and between -$13M to -$3M for full year 2021.
- Full year revenue target raised by +45%.
- Net Income Guidance of $25-$35 Million for the Second Half of 2021
Historical Earnings Impact
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Avg. Return Before/After Earnings
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