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TREE

LendingTree, Inc.

TREE

LendingTree, Inc. • NASDAQ
$57.03 ▼ -0.28% (-0.16)
Market Cap $779.64 M
52w High $77.35
52w Low $33.50
Dividend Yield 0%
P/E 53.8
Volume 77.62K
Outstanding Shares 13.67M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $307.792M ▲ $268.009M ▲ $10.165M ▲ 3.303% ▼ $0.001 ▼ $34.781M ▲
Q2-2025 $250.116M ▲ $219.163M ▼ $8.862M ▲ 3.543% ▲ $0.66 ▲ $26.827M ▲
Q1-2025 $239.728M ▼ $236.929M ▲ $-12.375M ▼ -5.162% ▼ $-0.92 ▼ $14.505M ▼
Q4-2024 $261.522M ▲ $233.837M ▼ $7.506M ▲ 2.87% ▲ $0.56 ▲ $23.872M ▲
Q3-2024 $260.789M $241.497M $-57.978M -22.232% $-4.34 $20.005M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $68.578M ▼ $759.922M ▼ $627.524M ▼ $132.398M ▲
Q2-2025 $149.131M ▲ $835.765M ▲ $717.653M ▲ $118.112M ▲
Q1-2025 $126.39M ▲ $777.103M ▲ $673.36M ▲ $103.743M ▼
Q4-2024 $106.594M ▲ $767.674M ▼ $658.853M ▼ $108.821M ▲
Q3-2024 $96.788M $787.164M $692.908M $94.256M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $10.165M ▲ $28.832M ▲ $-768K ▲ $-108.617M ▼ $-80.553M ▼ $25.567M ▲
Q2-2025 $8.862M ▲ $27.953M ▲ $-2.744M ▲ $-2.468M ▼ $22.741M ▲ $25.209M ▲
Q1-2025 $-12.375M ▼ $-210K ▼ $-3.414M ▼ $23.42M ▲ $19.796M ▲ $-3.624M ▼
Q4-2024 $7.506M ▲ $16.236M ▼ $-2.822M ▲ $-3.608M ▲ $9.806M ▼ $13.414M ▼
Q3-2024 $-57.978M $45.19M $-2.922M $-12.316M $30.019M $42.335M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Other Products And Services
Other Products And Services
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement LendingTree’s income statement tells a story of a high-margin, asset-light business that has struggled to convert those attractive economics into consistent profits. Revenue has been quite volatile over the last several years, rising strongly during better lending conditions, then falling when demand and marketing spend in the industry pulled back. This cyclicality is typical for a marketplace tied to borrowing, interest rates, and advertising budgets. Gross margins are very strong, reflecting the digital marketplace model where most costs are marketing and technology rather than funding loans. However, swings in marketing spend, restructuring, and other operating costs have kept operating profit only slightly above break-even in the best years and negative in weaker years. Net income has been negative in most recent years, with one standout profitable year in the middle of the period. Losses have recently narrowed, which suggests cost discipline and efficiency gains are starting to show up, but the overall track record is still one of inconsistent earnings and sensitivity to the credit and rate environment.

Balance Sheet

Balance Sheet The balance sheet is serviceable but not especially robust. Total assets have drifted down over time, while the equity base has eroded, reflecting past losses and write-downs. This means the cushion protecting shareholders from business shocks is thinner today than it was a few years ago. Debt remains sizable relative to equity, so the company is operating with meaningful financial leverage. Cash on hand is modest and has shrunk from earlier levels, though it has been relatively steady in the most recent period. Overall, the balance sheet supports ongoing operations but leaves less room for error. Sustained profitability and disciplined capital allocation would be important to gradually rebuild financial strength and flexibility.

Cash Flow

Cash Flow Cash flow paints a somewhat better picture than reported earnings. LendingTree has consistently generated positive cash from its core operations, even in years when it reported accounting losses. This suggests non-cash charges and working capital swings weigh on reported profit more than on actual cash generation. Free cash flow has also been positive most years, helped by modest capital spending needs. The marketplace and software-driven model does not require heavy investment in physical assets, which is a structural advantage. That said, cash generation is not yet at a level that clearly overwhelms the debt load or fully de-risks the balance sheet. The business appears self-funding, but not yet cash-rich, so management’s choices around debt reduction, buybacks, or acquisitions will matter.

Competitive Edge

Competitive Edge LendingTree holds a strong competitive position as an early and well-known online marketplace for consumer financial products, but it operates in a crowded and fast-moving environment. Its main strengths include a long-established brand, broad consumer reach, and a powerful network effect: more consumers attract more lenders, and more lenders create better choice and pricing for consumers. Over time, this has evolved into a diversified platform spanning mortgages, personal loans, credit cards, insurance, and small business lending, which reduces reliance on any single product. Past acquisitions have deepened its content and comparison tools, expanding into editorial sites and insurance marketplaces. This combination of content, tools, and offers helps keep consumers within the ecosystem and can build trust. On the risk side, competition from other aggregators, big banks, card issuers, and large tech or fintech platforms is intense. Customer acquisition costs, changes in search and social algorithms, and lender marketing budgets can all pressure growth. Regulatory shifts in lending and data usage are also ongoing watchpoints.

Innovation and R&D

Innovation and R&D Innovation is a clear focus, with a strong tilt toward artificial intelligence and digital experience. LendingTree is pushing an “AI-first” approach: using large language models and machine learning to automate internal tasks, personalize offers, optimize marketing, and improve lead quality for lenders. The creation of an internal AI Lab and partnerships with AI-focused marketing providers underline that this is a company-wide initiative, not a side project. The LendingTree Spring app aims to be a central hub for consumers’ financial lives, offering personalized insights, credit monitoring, and tailored product recommendations. If adoption grows, this could deepen engagement and increase the value of each customer over time. The annual Innovation Challenge, and investments in tools that enhance lender-borrower interactions (such as AI-powered engagement, lead management, and voice technologies), keep LendingTree close to the cutting edge of fintech. The main execution risks are overestimating AI’s near-term impact, integration complexity across many acquired brands, and ensuring data privacy and regulatory compliance while using advanced analytics.

Summary

Putting it all together, LendingTree is a high-margin, asset-light financial marketplace with a strong brand and clear technological ambitions, but a mixed financial track record and a thinner balance sheet than in the past. The business model is structurally attractive: it connects consumers and lenders without taking credit risk on its own balance sheet, and it has meaningful network effects and diversification across product types. However, earnings have been volatile and often negative, reflecting sensitivity to interest rates, housing and credit cycles, and lenders’ marketing budgets. Cash flow has generally been better than headline profits, helping to support operations and ongoing investment in technology. Still, the combination of meaningful debt and reduced equity means the financial cushion is not especially large. Future performance will likely hinge on three areas: the macro environment for borrowing, the success of the AI-driven and app-based strategy in deepening consumer engagement, and disciplined financial management to rebuild balance sheet strength. The setup offers both opportunity—if execution and the cycle cooperate—and risk, if conditions worsen or growth investments fail to translate into durable, profitable scale.

NEWS

November 10, 2025 · 8:45 AM UTC

Newzip Named Winner of LendingTree's 2025 Innovation Challenge for Second Time

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October 30, 2025 · 7:15 AM UTC

LENDINGTREE REPORTS THIRD QUARTER 2025 RESULTS

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October 16, 2025 · 4:00 PM UTC

Updated Time for LendingTree, Inc. Third Quarter 2025 Earnings on October 30, 2025

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October 13, 2025 · 11:25 AM UTC

LENDINGTREE ANNOUNCES THE UNEXPECTED PASSING OF COMPANY FOUNDER, CHAIRMAN AND CEO DOUG LEBDA

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October 10, 2025 · 4:00 PM UTC

Ad LendingTree, Inc. to Report Third Quarter 2025 Earnings on October 30, 2025

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