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Sep 30, 2021
LendingClub Q3 2021 Earnings Report
Reported record revenues, reflecting strong execution and business model transformation, with net income up 190% sequentially.
Key Takeaways
LendingClub Corporation announced strong financial results for Q3 2021, marked by record revenue of $246.2 million and a net income of $27.2 million, up 190% sequentially. The company's transformation into a digital marketplace bank is driving growth, supported by a growing member base and exceptional data science capabilities.
Record revenue of $246.2 million, a 20% sequential increase, outpacing origination growth of 14%.
Net interest income grew 42% sequentially to $65.3 million, driven by a 25% growth in the bank’s loan portfolio.
Marketplace revenue increased 15% sequentially, reflecting higher origination fees.
Record net income of $27.2 million, up 190% sequentially, highlighting positive operating leverage.
Forward Guidance
LendingClub is raising its full year targets for 2021.
Positive Outlook
- Loan originations: $2.8B to $3.0B for Q4 2021, $10.1B to $10.3B for full year 2021 (+$100M to +$300M versus prior guidance)
- Total revenue: $240M to $250M for Q4 2021, $796M to $806M for full year 2021 (+$26M to +$46M versus prior guidance)
- Consolidated net income: $20M to $25M for Q4 2021, $9M to $14M for full year 2021 (+$17M to +$22M versus prior guidance)
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Challenges Ahead
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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