TREE on Nasdaq

LendingTree

Logo: No machine-readable author provided. Roblenderman~commonswiki assumed (based on copyright claims)., CC BY-SA 3.0, via Wikimedia Commons⁴

American fintech company

LendingTree, Inc. is an online lending marketplace, founded in 1996 and headquartered in Charlotte, North Carolina.³ From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

1998Founded¹

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TickerTREE on Nasdaq¹
IndustryLoan Brokers¹
HeadquartersDE¹
Websitewww.lendingtree.com
Legal formDelaware corporation¹
Incorporated inDE⁵
Business address1415 Vantage Park Drive, Suite 700, Charlotte, Nc 28203⁵
Filer categoryAccelerated filer⁵

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LendingTree, Inc. is an online lending marketplace, founded in 1996 and headquartered in Charlotte, North Carolina. The business platform allows potential borrowers to connect with multiple loan operators to find optimal terms for loans, credit cards, deposit accounts, insurance, etc. LendingTree allows borrowers to shop and compare competitive rates and terms across an array of financial products. Other additional services include financing tools, comparative loan searches and borrowing information.³

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

31.5%Gross margin⁷

5.8%Operating margin⁷

13.5%Net margin⁷

24.1%Revenue growth, 2025⁷

52.8%Return on equity⁷

1.35×Debt to equity⁷

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Insurance brought in 64% of the revenue LendingTree broke down this way in fiscal 2025.

Insurance$711.9M⁷64%up 30% from 2024
Home$151.8M⁷14%up 18% from 2024
Other consumer$138.9M⁷12%up 15% from 2024
Personal Loans$114.4M⁷10%up 13% from 2024
Other Operating$310.0K⁷0%up 56% from 2024

Business segments by year

Business segments	2023	2024	2025
Insurance	$249.6M	$548.7M	$711.9M
Home	$143.8M	$128.9M	$151.8M
Other consumer	$178.8M	$121.0M	$138.9M
Personal Loans	$100.1M	$101.4M	$114.4M
Other Operating	$199.0K	$199.0K	$310.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

Other costsIncome taxProfit

Cost of revenue4¢$42.5M
Research and development4¢$45.3M
Other costs67¢$748.0M
Income tax12¢$130.3M
Profit14¢$151.3M

Out of $1.1B in revenue.⁷

Where each dollar of operating cash went, fiscal 2025

Kept or used elsewhere

Kept or used elsewhere100¢$73.1M

Out of $73.1M of cash from operations.⁷

Financial statements

Revenue⁸⁹¹⁰¹¹⁷$1.1B in 2025+1% since 2019

Gross profit⁸⁹¹⁰¹¹⁷$352.0M in 2025−19% since 2019

Operating income⁸⁹¹⁰¹¹⁷$64.8M in 2025+28% since 2019

Net income⁹¹⁰¹¹⁷$151.3M in 2025

Every line of the income statement in the latest annual report, as filed.⁷

Period ending	2025-12-31	2024-12-31	2023-12-31
Revenue	$1.1B	$900.2M	$672.5M
Cost of revenue (exclusive of depreciation and amortization shown separately below)	$42.5M	$36.1M	$38.8M
Selling and marketing expense	$812.9M	$636.0M	$433.6M
General and administrative expense	$112.9M	$108.7M	$117.7M
Product development	$45.3M	$46.4M	$47.2M
Depreciation	$16.5M	$18.3M	$19.1M
Amortization of intangibles	$5.2M	$5.9M	$7.7M
Goodwill impairment	$0	$0	$38.6M
Restructuring and severance	$1.6M	$508.0K	$10.1M
Litigation settlements and contingencies	$15.7M	$3.8M	$388.0K
Total costs and expenses	$1.1B	$855.6M	$713.1M
Operating income (loss)	$64.8M	$44.6M	-$40.6M
Interest (expense) income, net	-$46.8M	-$27.8M	$21.7M
Other income (expense)	$3.0M	-$54.2M	-$106.0M
Income (loss) before income taxes	$21.0M	-$37.4M	-$124.9M
Income tax benefit (expense)	$130.3M	-$4.3M	$2.5M
Net income (loss)	$151.3M	-$41.7M	-$122.4M
Comprehensive income (loss)	$151.3M	-$41.7M	-$122.4M
Basic (in shares)	13.6M shares	13.3M shares	12.9M shares
Diluted (in shares)	14.1M shares	13.3M shares	12.9M shares
Basic (in dollars per share)	$11.14	-$3.14	-$9.46
Diluted (in dollars per share)	$10.78	-$3.14	-$9.46

Total assets¹⁴⁸⁹¹⁰¹¹⁷$855.7M in 2025−10% since 2019

Total liabilities¹⁴⁸⁹¹⁰¹¹⁷$568.9M in 2025+4% since 2019

Shareholders’ equity⁹¹⁰¹¹⁷$286.8M in 2025−29% since 2019

Cash¹⁴⁸⁹¹⁰¹¹⁷$81.1M in 2025+35% since 2019

Long-term debt¹⁴⁸¹¹¹⁰⁷$387.7M in 2025+47% since 2019

Every line of the balance sheet in the latest annual report, as filed.⁷

Period ending	2025-12-31	2024-12-31	2023-12-31
Cash and cash equivalents	$81.1M	$106.6M
Accounts receivable (net of allowance of $1,322 and $1,407, respectively)	$110.6M	$97.8M
Prepaid and other current assets	$38.1M	$34.1M
Total current assets	$229.7M	$238.5M
Property and equipment (net of accumulated depreciation of $28,387 and $33,375, respectively)	$32.8M	$42.8M
Operating lease right-of-use assets	$31.7M	$52.6M
Goodwill	$381.5M	$381.5M	$381.5M
Intangible assets, net	$38.1M	$43.3M
Deferred income tax assets	$124.9M	$0
Equity investments (Note $7)	$475.0K	$1.7M
Other non-current assets	$16.5M	$7.4M
Total assets	$855.7M	$767.7M
Current portion of long-term debt	$3.9M	$124.9M
Accounts payable, trade	$6.7M	$8.4M
Accrued expenses and other current liabilities	$126.8M	$107.2M
Total current liabilities	$137.5M	$240.5M
Long-term debt	$387.7M	$344.1M
Operating lease liabilities	$43.6M	$69.2M
Deferred income tax liabilities	$0	$4.9M
Other non-current liabilities	$140.0K	$131.0K
Total liabilities	$568.9M	$658.9M
Preferred stock $.01 par value; 5,000,000 shares authorized; none issued or outstanding	$0	$0
Common stock $.01 par value; 50,000,000 shares authorized; 17,124,837 and 16,746,556 shares issued, respectively, and 13,769,371 and 13,391,090 shares outstanding, respectively	$171.0K	$167.0K
Additional paid-in capital	$1.3B	$1.3B
Accumulated deficit	-$728.1M	-$879.4M
Treasury stock; 3,355,466 and 3,355,466 shares, respectively	-$266.2M	-$266.2M
Total shareholders' equity	$286.8M	$108.8M	$124.1M
Total liabilities and shareholders' equity	$855.7M	$767.7M
Accounts receivable, allowance	$1.3M	$1.4M
Accumulated depreciation	$28.4M	$33.4M
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, authorized shares	5.0M shares	5.0M shares
Preferred stock, issued shares	0 shares	0 shares
Preferred stock, outstanding shares	0 shares	0 shares
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, authorized shares	50.0M shares	50.0M shares
Common stock, issued shares	17.1M shares	16.7M shares
Common stock, outstanding shares	13.8M shares	13.4M shares
Treasury stock, shares	3.4M shares	3.4M shares

Cash from operations¹¹⁷$73.1M in 2025+70% since 2022

Share buybacks⁸⁹¹⁰¹¹$0 in 2024

Every line of the cash flow in the latest annual report, as filed.⁷

Period ending	2025-12-31	2024-12-31	2023-12-31
Net income (loss)	$151.3M	-$41.7M	-$122.4M
(Gain) loss on impairments and disposal of assets	-$71.0K	$2.6M	$5.4M
Amortization of intangibles	$5.2M	$5.9M	$7.7M
Depreciation	$16.5M	$18.3M	$19.1M
Non-cash compensation expense	$29.5M	$28.6M	$39.7M
Deferred income taxes	-$129.8M	$2.8M	-$4.7M
Bad debt expense	$264.0K	$171.0K	$1.8M
Amortization of debt issuance costs	$1.6M	$2.2M	$3.1M
Amortization of debt discount	$498.0K	$331.0K	$0
Reduction in carrying amount of ROU asset, offset by change in operating lease liabilities	-$1.9M	-$2.8M	-$4.4M
Gain on settlement of convertible debt	-$266.0K	-$9.0M	-$48.6M
Impairment of long-lived assets	$0	$0	$38.6M
Accounts receivable	-$13.1M	-$43.0M	$27.7M
Prepaid and other assets	-$13.6M	-$4.7M	-$3.0M
Accounts payable, accrued expenses and other current liabilities	$20.0M	$44.6M	-$5.5M
Income taxes receivable	-$2.2M	$96.0K	-$140.0K
Other, net	$64.0K	-$278.0K	-$1.3M
Net cash provided by operating activities	$73.1M	$62.3M	$67.6M
Capital expenditures	-$12.4M	-$11.2M	-$12.5M
Proceeds from the sale of fixed assets	$2.5M	$0	$0
Other investing activities	$0	$2.0K	$50.0K
Net cash used in investing activities	-$9.9M	-$11.2M	-$12.5M
Payments related to net-share settlement of stock-based compensation, net of proceeds from exercise of stock options	-$2.8M	-$2.2M	-$1.1M
Proceeds from term loan	$450.0M	$125.0M	$0
Repayment of term loan	-$410.4M	-$12.5M	-$1.9M
Payment of debt issuance costs	-$5.1M	-$4.3M	-$1.6M
Payment of original issue discount on term loan	-$4.0M	-$3.1M	$0
Other financing activities	$0	-$552.0K	$1.0K
Net cash used in financing activities	-$88.7M	-$56.5M	-$242.0M
Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents	-$25.5M	-$5.5M	-$186.9M
Increase (decrease) in capital expenditures included in accounts payable and accrued expenses	-$170.0K	$128.0K	-$377.0K
Interest paid	$37.2M	$38.2M	$23.7M
Income tax payments	$1.8M	$1.7M	$1.3M
Income tax refunds	$238.0K	$220.0K	$100.0K

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The story

History

Founding

After graduating from Bucknell University, Doug Lebda went to work for PricewaterhouseCoopers in Pittsburgh as an auditor and consultant. During the process of purchasing his first home via a mortgage, he found the process of comparing numerous resources time-consuming. Lebda sought a better way to improve this process in the marketplace. Lebda subsequently started CreditSource USA in late 1996; a year later the new company was rebranded as LendingTree. In 1998, LendingTree was launched online.

IAC ownership

LendingTree went through an initial public offering (IPO) on February 15, 2000. In May 2003, LendingTree was acquired by IAC/InterActiveCorp, former owner of Ticketmaster, Home Shopping Network and Match.com. In 2004, LendingTree acquired HomeLoanCenter.com and formed LendingTree Loans. After five years, LendingTree spun off from IAC to join newly established Tree.com, Inc. Tree.com was the parent company of several brands and businesses in the financial services and real estate industries including LendingTree.com; GetSmart.com; DegreeTree.com; LendingTreeAutos.com; and DoneRight.com.

In 2015, LendingTree disassembled the Tree.com umbrella to focus on its core brand, LendingTree, which incorporated business loans, personal loans, debt consolidation, free credit scores, and student loans along with its core mortgage products home loans, mortgage refinance, and home equity.

Since 2019, LendingTree has served as the official name sponsor of the annual college football bowl played in Mobile, Alabama, the LendingTree Bowl.

On October 13, 2025, LendingTree announced that founder and CEO Doug Lebda died the previous day in an all-terrain vehicle collision. The company named COO Scott Peyree as the new CEO, and Steve Ozonian as chairman of the board.

2024 data breach

In 2024, the Lending Tree platform QuoteWizard suffered a data breach and extortion attempt as part of the 2024 Snowflake mass hacking campaign. The stolen data included personally identifiable information (PII) of nearly 50 million customers. It also included partial customer driver's license numbers, driving histories, risk profiles, and auto information such as auto make/model and VIN numbers

From Wikipedia’s article on LendingTree, shared under CC BY-SA 4.0.⁶

Subsidiaries and ownership

Owners

QVC Group

From Wikidata.¹

Acquisitions

In 2009, LendingTree acquired the personal financial management website Thrive. In August 2016, it acquired SimpleTuition, a company focused on student loans. Subsequent acquisitions include CompareCards (2016), DepositAccounts.com (2017), MagnifyMoney (2017), SnapCap (2017), Student Loan Hero (2018), QuoteWizard (2018), and ValuePenguin (2018).