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Dec 31, 2023
LendingClub Q4 2023 Earnings Report
LendingClub reported increased marketplace originations and continued GAAP profitability.
Key Takeaways
LendingClub Corporation announced its Q4 and full year 2023 financial results, highlighting a 21% quarter-over-quarter increase in marketplace originations and continued GAAP profitability. The company's total assets reached $8.8 billion, and deposits totaled $7.3 billion.
Marketplace originations increased by 21% quarter-over-quarter.
Total assets reached $8.8 billion, reflecting growth in securities related to the structured certificate program.
Deposits totaled $7.3 billion, driven by an increase in customer certificates of deposit.
Net income was $10.2 million, with diluted EPS of $0.09.
Forward Guidance
LendingClub provided financial outlook for the first quarter of 2024.
Positive Outlook
- Loan Originations are expected to be between $1.5B to $1.7B
- Pre-Provision Net Revenue (PPNR) is expected to be between $30M to $40M
Historical Earnings Impact
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Avg. Return Before/After Earnings
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