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LendingTree, Inc.: Q3 FY2026 earnings call

What management said about Q3 FY2026, from the documents filed with the SEC on 3 November 2026: press release. Guidance figures: 2 raised, 1 narrowed, 3 new. The quarter’s numbers.

Key takeaways

  • Revenue up 12% in every segment: Revenue rose 12% to $343.6 million from $307.8 million a year earlier and 10% from $313.4 million in the second quarter. Management described it as the tenth straight quarter of double-digit growth. Source
  • GAAP net loss from goodwill charge: GAAP net loss was $(72.4) million, or $(5.15) per diluted share, against net income of $10.2 million a year earlier. The company attributed the loss to a $98.8 million non-cash goodwill charge. Source
  • Insurance revenue up 15%: Insurance revenue was $234.9 million, up 15% year over year and 12% sequentially. Segment profit was $54.2 million, up 14%, at a 23% segment margin. Source
  • Consumer revenue up, segment profit down: Consumer revenue was $67.2 million, up 2% year over year and 11% sequentially. Segment profit fell 16% to $29.6 million, with segment margin at 44% against 53%. Source
  • Variable margin up 2% in dollars: Variable marketing margin was $94.9 million, up 2% year over year and 9% sequentially. As a share of revenue it was 28%, against 30% a year earlier. Source
  • Adjusted EBITDA down 1% year over year: Adjusted EBITDA was $39.6 million, down 1% year over year and up 13% sequentially. It equaled 42% of variable marketing margin, against 43% a year earlier. Source
  • Voluntary $60 million debt repayment: Management said excess cash was used to repay $60 million of long-term debt during the quarter, to improve free cash flow for shareholders going forward. Source

“We are pleased to report our tenth straight quarter of double-digit revenue growth, powered by continued strength in our Insurance segment along with healthy growth in Home driven by great home equity lending results,”

Scott Peyree, CEO

Guidance

AreaPeriodFigureAgainst last quarter
Revenue SourceFull-year 2026$1.30 billion to $1.31 billionNarrowed, top end cut from $1.30 billion to $1.32 billion
Variable marketing margin SourceFull-year 2026$370 million to $375 millionRaised from $364 million to $374 million
Adjusted EBITDA SourceFull-year 2026$151 million to $153 millionRaised from $145 million to $152 million
Revenue and adjusted EBITDA growth SourceFull-year 202617% revenue growth and 14% adjusted EBITDA growth, at the midpoint
Revenue SourceFourth quarter 2026$315 million to $325 millionNew
Variable marketing margin SourceFourth quarter 2026$88 million to $93 millionNew
Adjusted EBITDA SourceFourth quarter 2026$34 million to $36 millionNew

What changed from last quarter

  • Guidance lowered: Full-year 2026 revenue range top end moved from $1.32 billion to $1.31 billion; the low end stayed at $1.30 billion. Source
  • Guidance raised: Full-year 2026 variable marketing margin range moved from $364 million to $374 million to $370 million to $375 million. Source
  • Guidance raised: Full-year 2026 adjusted EBITDA range moved from $145 million to $152 million to $151 million to $153 million. Source
  • New guidance: Fourth-quarter 2026 ranges were given for revenue, variable marketing margin and adjusted EBITDA. Source
  • New: Voluntary repayment of $60 million of long-term debt was made during the quarter. Source
  • New: AI features and distribution changes were rolled out to the shopping experience across multiple product lines this quarter. Source

Results and growth drivers

  • Revenue up 12% in every segment: Revenue rose 12% to $343.6 million from $307.8 million a year earlier and 10% from $313.4 million in the second quarter. Management described it as the tenth straight quarter of double-digit growth. Source
  • GAAP net loss from goodwill charge: GAAP net loss was $(72.4) million, or $(5.15) per diluted share, against net income of $10.2 million a year earlier. The company attributed the loss to a $98.8 million non-cash goodwill charge. Source
  • Nine-month revenue reached $984.3 million: Nine-month revenue was $984.3 million against $797.6 million a year earlier. Nine-month diluted loss per share was $(3.26). Source

Segments and revenue mix

  • Insurance revenue up 15%: Insurance revenue was $234.9 million, up 15% year over year and 12% sequentially. Segment profit was $54.2 million, up 14%, at a 23% segment margin. Source
  • Consumer revenue up, segment profit down: Consumer revenue was $67.2 million, up 2% year over year and 11% sequentially. Segment profit fell 16% to $29.6 million, with segment margin at 44% against 53%. Source
  • Home revenue up 9%: Home revenue was $41.5 million, up 9% year over year and down 5% sequentially. Segment profit rose 5% to $12.4 million, at a 30% margin. Source
  • Home equity lending led Home growth: Home equity revenue was $34.0 million, up 20% over the prior year. Management credited Home growth to home equity lending results. Source

“Our strong results continue to fortify our balance sheet, as we used excess cash to voluntarily repay $60 million of long-term debt during the quarter to improve free cashflow generation for shareholders going forward.”

Jason Bengel, CFO

Products and AI features

  • Voice AI helps choose offers: Management said voice AI services were added to help consumers understand offers before speaking with a lender. Source
  • AI overviews guide offer selection: AI overviews on offer pages were added to help customers select the offer that fits their situation. Source
  • Staged shopping limits lender contact: Controlled distribution lets a consumer shop in stages, so multiple carriers or lenders do not contact the customer at once. Source
  • Diversified product lineup: Management said the product mix provides one unified marketplace for all personal financial products, which it described as a benefit to the business. Source

Costs, margins and earnings

  • Variable marketing spend up 16%: Variable marketing expense was $248.7 million, up 16% year over year and 10% from the second quarter. Source
  • Variable margin up 2% in dollars: Variable marketing margin was $94.9 million, up 2% year over year and 9% sequentially. As a share of revenue it was 28%, against 30% a year earlier. Source
  • Adjusted EBITDA down 1% year over year: Adjusted EBITDA was $39.6 million, down 1% year over year and up 13% sequentially. It equaled 42% of variable marketing margin, against 43% a year earlier. Source
  • Operating loss against prior-year income: Operating loss was $70.3 million, against operating income of $28.8 million a year earlier. Selling and marketing expense was $260.5 million, against $225.1 million. Source
  • Interest expense lower year over year: Net interest expense was $9.1 million, against $17.9 million a year earlier. Source

“This diversification allows us to continue to execute on our growth plan successfully despite ongoing interest rate related headwinds impacting our Home segment.”

Jason Bengel, CFO

Cash, debt and balance sheet

  • Voluntary $60 million debt repayment: Management said excess cash was used to repay $60 million of long-term debt during the quarter, to improve free cash flow for shareholders going forward. Source
  • Nine-month operating cash flow higher: Nine-month operating cash flow was $76.4 million, against $56.6 million a year earlier. Capital expenditures were $8.9 million. Source
  • Long-term debt reduced to $326.7 million: Long-term debt was $326.7 million at September 30, 2026, against $387.7 million at December 31, 2025. Source

Quarter against prior guidance

  • Revenue above prior third-quarter range: Third-quarter revenue of $343.6 million compared with the $325 million to $335 million range given in the prior release.
  • Margin above prior third-quarter range: Variable marketing margin of $94.9 million compared with the $88 million to $93 million range given in the prior release.
  • Adjusted EBITDA above prior range: Adjusted EBITDA of $39.6 million compared with the $34 million to $36 million range given in the prior release.

Coming up, as management said on 3 November 2026

  • Share repurchases in fourth quarter: Management intends to repurchase shares in the fourth quarter of 2026, the first repurchases since the first quarter of 2022. Source

Figures management reported

FigureReported
Financial partners in network Sourceapproximately 770

Risks management discussed

  • External: Management cited ongoing interest rate related headwinds affecting the Home segment. Source
  • Regulatory: Management said legal matters and tax considerations could significantly affect GAAP results, so projected results cannot be reconciled to GAAP. Source

Earlier plans management reported on

  • On track: Management said the company is on track for these growth rates this year. Source

Other quarters

Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.