What does Lendingclub do and what are its main business segments?

What is the market's earnings forecast for Lendingclub next quarter?

What guidance did Lendingclub's management provide for the next earnings period?

What were the key takeaways from Lendingclub’s earnings call?

Did Lendingclub beat or miss consensus estimates last quarter?

What is Lendingclub's gross profit margin?

What were the key takeaways from Lendingclub's earnings call?

What factors drove the changes in Lendingclub's revenue and profit?

- **Revenue Surge**: Q4 originations up 40% YoY to $2.6 billion, full-year growth 33% to $10 billion, driven by product innovation and expanded marketing.
- **Credit Excellence**: Delinquency rates 40% better than peers, lifetime loss rates stable at 4.5%-5%, enabling $50 million Q4 net income (up 300% YoY).
- **Strategic Expansion**: Entered $0.5T home improvement market with $100M+ pipeline, launched LevelUp Checking/Savings (balances >$15k), and integrated 60+ AI initiatives.
- **Financial Strength**: ROTCE 11.9% (vs. 10.2% full-year 2025), EPS up 158% YoY to $0.35, with 2026 guide for $1.65-$1.80 EPS (42%-55% growth).

**【CEO Summary Section】**
- **Revenue Growth**: Q4 originations reached $2.6 billion, up 40% YoY, driven by product innovation (e.g., top-up loans) and expanded marketing channels. Full-year originations rose 33% to $10 billion.
- **Credit Performance**: Delinquency and charge-off rates outperformed industry peers, with lifetime loss rates stable at 4.5%-5%.
- **New Product Expansion**: Launched home improvement financing with a $100 million+ partnership pipeline, targeting the $0.5 trillion market. Introduced LevelUp Checking and Savings, growing deposit balances by double digits.
- **AI Integration**: Over 60 AI initiatives across marketing, credit, and operations, improving doc verification speed and customer experience.

**【CFO Financial Commentary】**
- **Financial Metrics**: Q4 net income of $50 million (up 300% YoY), EPS of $0.35 (up 158% YoY), and ROTCE of 11.9% (vs. 10.2% full-year 2025). Full-year EPS grew 42% to $1.16.
- **Fair Value Transition**: Shifted held-for-investment loans to fair value accounting, reducing day-1 provisioning but increasing fair value adjustments. Q1 2026 fair value adjustments expected to double Q4 2025 levels due to higher major purchase finance volume.
- **Expense Management**: Q4 noninterest expense rose 19% YoY to $169 million, driven by marketing (e.g., paid social, connected TV). 2026 guide includes $100 million share repurchase and acquisition program.
- **Balance Sheet Growth**: Total assets reached $11.6 billion (up 9% YoY), with deposits at $9.8 billion (up 8% YoY). Net interest margin of 6% (up 56bps YoY) supported by efficient funding.

**【Q&A Highlights】**
- **Expense Trends**: Marketing spend will remain elevated in 2026 to fuel growth, with rebranding and home improvement launch costs. Efficiency ratio expected to improve post-2026 as fair value tailwinds fade.
- **Credit Dynamics**: Stable credit performance across vintages, with no material impact from tax refund season. ANCL loss rates remain 4.5%-5% despite longer-duration loans (e.g., major purchase finance).
- **Competitive Position**: Outperformed peers with 40% better credit performance, attracting $500 million+ in held-for-investment loans. Insurance capital partnerships (e.g., BlackRock, Blue Owl) support marketplace growth.
- **Regulatory Outlook**: CEO emphasized LendingClub's ability to compete without rate caps, offering 700bps savings vs. credit cards.
- **Fair Value Mechanics**: Discount rates of 7%-7.3% reflect risk-adjusted returns, with duration extending for home improvement loans. Day-2 fair value adjustments will rise with balance sheet growth.

LendingClub Corporation (LC) Q4 2025 Earnings Call Transcript

- **Revenue Surge**: Q3 originations up 37% YoY to $2.62 billion, with revenue growing 32% to $266 million, EPS tripling to $0.37.
- **Marketplace Dominance**: Marketplace revenue jumps 75%, including $1.4 billion in structured certificates and BlackRock's $1 billion commitment.
- **Product Growth**: LevelUp Checking accounts surge 7x, with 60% of new accounts from borrowers, driving 50% higher mobile app engagement.
- **Credit Excellence**: Charge-off ratio at 2.9%, outperforming peers by 40%, with stable lifetime loss expectations.
- **Balance Sheet Strength**: $11.1 billion balance sheet supports record net interest income of $158 million, with Q4 originations expected to grow 35-41% YoY.

**【CEO Summary Section】**
- **Revenue and Originations Growth**: Q3 originations reached $2.62 billion (37% YoY), driven by strong demand and marketing efforts. Revenue grew 32% YoY to $266 million, with EPS tripling to $0.37.
- **Marketplace Success**: Marketplace revenue rose 75% to a 3-year high, including $1.4 billion in structured certificates. BlackRock's $1 billion MOU highlights institutional investor confidence.
- **Product Innovation**: LevelUp Checking saw a 7x increase in account openings, with 60% of new accounts from borrowers. Mobile app log-ins increased 50%, boosting repeat loan issuance.
- **Credit Performance**: Delinquency rates outperformed competitors by 40%, with a 2.9% charge-off ratio, reflecting disciplined underwriting.

**【CFO Financial Commentary】**
- **Financial Highlights**: GAAP net income of $44 million, with pre-provision net revenue up 58% to $104 million. Net interest income hit an all-time high of $158 million, supported by a $11.1 billion balance sheet.
- **Expense Management**: Noninterest expenses grew 19% YoY to $163 million, driven by marketing. Efficiency ratio improved to near-all-time lows.
- **Credit Resilience**: Provision for credit losses was $46 million, with lifetime loss expectations stable. Extended seasoning portfolio grew to $1.2 billion, supporting recurring revenue.
- **Q4 Outlook**: Originations expected to grow 35-41% YoY to $2.5-2.6 billion. Pre-provision net revenue guidance of $90-100 million reflects ongoing growth and investment in marketing.

**【Q&A Highlights】**
- **Loan Sales Channels**: Structured certificates and rated products (attracting insurance capital) drove higher prices, nearing bank levels. Extended seasoning sales of $1 billion highlighted strong investor demand.
- **Underwriting Discipline**: No relaxation in standards despite industry competition; 5% of originations target lower credit tiers, with minimal delinquency impact.
- **Marketing Efficiency**: 50% of originations from repeat borrowers, with lower cost acquisition. Q3 marketing spend growth supported new member growth while maintaining repeat engagement.
- **BlackRock Program**: $1 billion commitment through 2026 underscores institutional confidence, complementing insurance capital inflows for rated products.
- **Balance Sheet Strategy**: Retained $600 million in HFI, balancing growth with marketplace sales to maintain liquidity and capital strength.

LendingClub Corporation (LC) Q3 2025 Earnings Call Transcript

- **Revenue and Profit Surge**: 32% originations growth to $2.4B, doubling net income to $38M, and ROTCE hitting 12%.
- **Strategic Wins**: $3.4B Blue Owl partnership and $100M BlackRock transaction highlight marketplace strength.
- **Innovative Products**: LevelUp Checking sees 6x daily account growth, while LevelUp Savings reaches $2.7B with high engagement.
- **Credit Excellence**: 3% charge-off rate and 40% outperformance vs. peers drive premium loan pricing.
- **Q3 Guidance**: Originations of $2.5-2.6B and ROTCE target of 10-11.5% signal sustained momentum.

**【CEO Summary Section】**
- **Revenue and Originations Growth**: Q2 originations reached $2.4B, up 32% YoY, with revenue growing 33% to $248M. GAAP net income doubled to $38M, and ROTCE hit 12%, exceeding the 8% target.
- **Strategic Partnerships**: Extended a $3.4B forward flow agreement with Blue Owl and closed a $100M transaction with BlackRock via the Fitch-rated structured certificate program.
- **Product Innovations**: Launched LevelUp Checking, offering 2% cash back for on-time loan payments, seeing a 6x increase in daily account openings. Expanded LevelUp Savings to $2.7B in deposits, with 80% meeting high-rate thresholds.
- **Credit Performance**: Sustained 40% improvement over competitors, with a 3% net charge-off rate, down from 6.2% YoY. Credit models and underwriting resilience drove strong loan sales prices.

**【CFO Financial Commentary】**
- **Financial Highlights**: GAAP net income of $38M (up 156% YoY), PPNR of $94M (up 70% YoY), and net interest margin of 6.1%. Marketplace revenue grew 60% YoY, while net interest income rose 20%.
- **Balance Sheet Growth**: Total assets reached $11B, with a focus on optimizing the bank model for durable revenue. Deposit repricing beta near 100% supported margin expansion.
- **Guidance**: Q3 originations expected at $2.5-2.6B (31-36% YoY), PPNR of $90-100M (37-53% YoY), and ROTCE target of 10-11.5%.

**【Q&A Highlights】**
- **Competitive Edge**: Maintained marketing efficiency despite 26% YoY spend increase, with 50-50 new vs. repeat borrower mix. Strong loan sales pricing and credit performance offset competitive pressures.
- **Credit Resilience**: Q2 credit outperformance reduced provision by $9M, with 2024 vintage loss expectations below prior vintages. Student loan moratorium end had minimal impact.
- **Product Impact**: LevelUp Checking drove 60% of new accounts from borrowers, enhancing engagement and lifetime value. DebtIQ beta testing aims to provide debt management transparency.
- **Capital Deployment**: CET1 ratio at 17.5% supports balance sheet growth without dilutive capital raises, targeting double-digit ROTCE in Q3 and beyond.

LendingClub Corporation (LC) Q2 2025 Earnings Call Transcript

- **Record Growth**: $2B loan originations (+21% YoY) and 20% net revenue growth highlight strong execution across marketplace and bank channels.
- **Credit Resilience**: 4.8% charge-off ratio vs. 6.9% prior year, with $8.5M qualitative provisions for macro stress testing.
- **Margin Expansion**: NIM at 6% driven by LevelUp Savings cost reduction and legacy deposit exit.
- **Strategic Wins**: Fitch-rated deal with top insurer and Cushion AI acquisition enhance long-term growth and customer engagement.
- **Investor Confidence**: Stable pricing in structured certificates despite broader market noise, with pipeline interest from new banks and insurers.


**【CEO Summary Section】**
- Q1 2025 loan originations reached $2 billion, up 21% YoY, driven by marketing channel expansion and demand from borrowers and investors.
- Total net revenue grew 20% to $218 million, with pre-provision net revenue surging 52% to $74 million.
- Credit performance remained strong: net charge-off ratio for held-for-investment loans was 4.8%, down from 6.9% a year ago.
- Strategic investments included acquiring Cushion's AI-powered spending intelligence app and purchasing a new headquarters at a discounted price.
- Secured an investment-grade rating from Fitch for a structured certificate deal, closing a $100 million transaction with a top insurance company.

**【CFO Financial Commentary】**
- GAAP net income was $11.7 million, with adjusted pre-provision net revenue of $74 million, exceeding guidance.
- Net interest margin (NIM) rose to 6%, benefiting from lower deposit costs via LevelUp Savings and reduced legacy deposit reliance.
- Loan sales pricing improved 200+ basis points YoY, supported by credit outperformance and unique deal structures.
- Increased qualitative credit provisions by $8.5 million to prepare for potential macroeconomic stress (5.3% unemployment scenario).
- Extended seasoning portfolio grew to $675 million, enhancing retained loan economics.

**【Q&A Key Highlights】**
- **Investor Demand**: Marketplace pricing stable; Q1 transactions closed at planned levels despite broader market volatility.
- **Marketing Spend**: Q2 PPNR guide ($70-80M) reflects higher marketing and tech investments, offsetting credit conservatism.
- **Bank Buyer Pipeline**: Existing bank buyers remain active; new buyers in pipeline, though timing uncertain due to regulatory processes.
- **Capital Allocation**: Prioritized balance sheet growth over share buybacks, with $74.5M headquarters purchase yielding financial and operational benefits.
- **Insurance Market**: Rated structured certificates unlock $8T+ insurance assets, with potential for mid-30s basis point pricing premium over standard deals.


LendingClub (LC)-29 Apr 25-2025 Q1 Earnings call transcript

- **Q4 Growth**: Originations +13%, PPNR +34%, total net revenue +17% to $217M.
- **Credit Outperformance**: 40% better delinquency rate vs. peers, net charge-offs 4.5% (vs. 6.6% YoY).
- **2025 Ambition**: Target Q4 originations of $2.3B (+25%), ROTCE 8% by Q4 2025.
- **Bank & Investor Demand**: Banks now 33% of volume (vs. <5% start year), first insurer-rated transaction Q1 2025 at 30bps tighter spread.
- **Cost Efficiency**: Deposit costs down via LevelUp Savings (70% of customers add monthly), marketing spend flat YoY despite higher volumes.

**【CEO Summary Section】**
- Q4 originations grew 13% YoY to $1.8B, driven by product innovation and disciplined underwriting. PPNR rose 34% to $74M, while total net revenue reached $217M (+17%).
- Key achievements: 40% better credit performance vs. peers, 170bps increase in loan sales prices YoY, and 24% deposit growth via LevelUp Savings.
- 2025 outlook: Target Q4 originations of $2.3B (+25% from Q4 2024), with plans to restart dormant marketing channels in Q2/Q3. Mobile app adoption (e.g., TopUp, DebtIQ) and Tally tech integration aim to boost engagement and lifetime value.

**【CFO Financial Commentary】**
- GAAP net income: $9.7M (includes $3.2M non-cash software impairment). Non-GAAP EPS: $1.08, exceeding expectations.
- Revenue breakdown: Non-interest income up 38% to $75M (driven by higher loan sales prices), net interest income +8% to $142M. Net interest margin: 5.42% (sequential dip due to cash mix, but expected low point).
- Expense control: Marketing spend flat YoY despite higher volumes; $143M total expenses (+$4.4M from Tally-related software impairment). Provision for credit losses: $63M (+50% YoY) due to higher held-for-investment loans.
- Credit quality: Net charge-offs improved to 4.5% (vs. 6.6% YoY), with 49% of recovery from charged-off loan sales.

**【Q&A Key Highlights】**
- **Volume guidance rationale**: Q1/Q4 originations flat due to seasonal challenges and credit discipline. 2025 exit rate of $2.3B assumes bank demand growth (33% of Q4 volume vs. <5% start of year) and rated structured certificates (first insurer transaction Q1 2025 at 30bps tighter spread).
- **Pricing outlook**: Bank and private credit demand support 170bps YoY price improvement. Rated certificates open $8.5T insurer market.
- **ROTE trajectory**: Q4 2025 target ROTCE 8%, with potential for higher growth in 2026+. Q1 2025 PPNR guide $60-70M reflects marketing reinvestment.
- **Balance sheet strategy**: Hold $605M HFI loans (vs. $400M HFS sold Q4), with plans to replenish HFS inventory. Total assets up 20% vs. 3-4% US bank average.
- **Deposit management**: Exit high-cost commercial deposits, reprice 80% of savings beta to Fed cuts. LevelUp Savings adds $1.2B deposits since launch in August.

Actual												-0.44	-0.6	-0.25	-0.24	-0.49	0.09	0.26	0.27	0.39	1.73	0.41	0.22	0.13	0.09	0.05	0.09	0.11	0.13	0.13	0.08	0.1	0.33	0.37	0.35
Forecast												-0.0478	-0.5324	-0.527	-0.346	-0.788	-0.4	0.1175	0.2245	0.2536	0.3997	0.3271	0.1917	0.0757	0.04	0.0313	0.0134	0.0327	0.0396	0.071	0.0912	0.1063	0.1541	0.3036	0.339
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-820.50%	-12.70%	+52.56%	+30.64%	+37.82%	+122.50%	+121.28%	+20.27%	+53.79%	+332.82%	+25.34%	+14.76%	+71.73%	+125.00%	+59.74%	+571.64%	+236.39%	+228.28%	+83.10%	-12.28%	-5.93%	+114.15%	+21.87%	+3.24%

LC

LC fundamentals

LC Q4 2025 Earnings

Earnings Call

You can ask Aime

LC

LC fundamentals

LC Q4 2025 Earnings

Earnings Call

LC Earnings Call Summary for Q4/20255:00 PM on Jan 28, 2026

LC Earnings Call Summary for Q3/20255:00 PM on Oct 22, 2025

LC Earnings Call Summary for Q2/20255:00 PM on Jul 29, 2025

LC Earnings Call Summary for Q1/20255:00 PM on Apr 29, 2025

LC Earnings Call Summary for Q4/20245:00 PM on Jan 28, 2025

You can ask Aime