Lendingtree, Inc. (TREE) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

SEC Filings

TREE Quarterly Reports

Lendingtree, Inc.

CIK: 1434621 Ticker: TREE
Page 1

Exhibit 99.1

Results showcase Home and Insurance strength despite late quarter COVID-19 challenges

Consolidated revenue of $283.1 million; up 8% over 1Q 2019
GAAP net income from continuing operations of $19.0 million or $1.34 per diluted share
Variable marketing margin of $98.2 million; up 6% over 1Q 2019
Adjusted EBITDA of $44.9 million; up 4% over 1Q 2019
Adjusted net income per share of $1.20

CHARLOTTE, NC - May 5, 2020 - LendingTree, Inc. (NASDAQ: TREE), operator of, the nation's leading online financial services marketplace, today announced results for the quarter ended March 31, 2020.
The company has posted a letter to shareholders on the company's website at
"I am incredibly proud of our team's response in these challenging times," said Doug Lebda, Chairman and CEO. "Our solid first quarter results are a testament to our team's hard work and resiliency and is further proof that our business model is resilient to financial market changes. Although our company is not immune to the challenges created by the COVID-19 outbreak, we remain focused on continued market share and wallet share gains in our core business, product innovation, and providing support for our consumers, partners, employees, and communities."
J.D. Moriarty, CFO added, "We're pleased to be able to report first quarter adjusted EBITDA in line with our original guidance despite the adverse conditions that began to develop in early March. While we're uncertain as to the depth and length of economic recession, our balance sheet, liquidity position, and cash flow generation remain strong, and we're well-positioned to continue driving the business forward."
First Quarter 2020 Business Highlights
Home segment revenue of $79.2 million and segment profit of $35.9 million grew 25% and 50%, respectively, over first quarter 2019.
Within Home, mortgage products revenue grew 46% over the prior year period.
Insurance revenue of $82.7 million grew 23% over first quarter 2019 and translated into Insurance segment profit of $30.5 million.
Consumer segment revenue of $119.9 million decreased 1% over first quarter 2019, driven by the impact of COVID-19 as unsecured credit and the flow of capital in certain corners of the market have tightened.
Within Consumer, credit card revenue of $51.6 million decreased 5% year-over-year.
Personal loans revenue of $31.5 million decreased 3% year-over-year.
Small business revenue grew 43% year-over-year.
Through March 31, 14.7 million consumers have signed up for My LendingTree. Revenue contribution from My LendingTree of $18.7 million was up 4% year-over-year. Average monthly active users grew 10% over the first quarter 2019.

The following information was filed by Lendingtree, Inc. (TREE) on Tuesday, May 5, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Lendingtree, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statement Of Shareholders' Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations And Comprehensive Income
Accrued Expenses And Other Current Liabilities
Accrued Expenses And Other Current Liabilities (Details - Balance Sheet)
Accrued Expenses And Other Current Liabilities (Tables)
Allowance For Doubtful Accounts
Allowance For Doubtful Accounts (Details)
Allowance For Doubtful Accounts (Tables)
Business Acquisition
Business Acquisition (Tables)
Business Acquisition Business Acquisition (Details - Changes In Contingent Consideration)
Cash And Restricted Cash
Cash And Restricted Cash (Details - Balance Sheet)
Cash And Restricted Cash (Tables)
Contingencies (Details)
Debt (Details - Convertible Note Hedge And Warrant Transactions)
Debt (Details - Convertible Senior Notes)
Debt (Details - Revolving Credit Facility)
Debt (Table)
Discontinued Operations
Discontinued Operations (Details - Loan Loss Obligations)
Discontinued Operations (Details-Disposal Groups)
Discontinued Operations (Tables)
Equity Investments
Equity Investments (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Details)
Fair Value Measurements - Schedule Of Fair Value Measurement Valuation (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Details - 5Yr Definite Lived Intangibles Amortization)
Goodwill And Intangible Assets (Details - Balance Sheet)
Goodwill And Intangible Assets (Details - Definite Lived Intangibles)
Goodwill And Intangible Assets (Details - Goodwill And Indefinite-Lived Intangibles)
Goodwill And Intangible Assets (Tables)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Reconciliation Of Income Tax (Expense) Benefit (Details)
Revenue (Tables)
Revenue - Disaggregation Of Revenue (Details)
Revenue - Narrative (Details)
Segment Information
Segment Information (Details)
Segment Information (Tables)
Shareholders' Equity
Shareholders' Equity (Details)
Shareholders' Equity (Tables)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Stock-Based Compensation
Stock-Based Compensation (Details - P&Amp;L Impact)
Stock-Based Compensation (Details - Rsa &Amp; Rsu Rollforwards)
Stock-Based Compensation (Details - Stock Options Rollforward)
Stock-Based Compensation (Tables)

Material Contracts, Statements, Certifications & more

Lendingtree, Inc. provided additional information to their SEC Filing as exhibits

Ticker: TREE
CIK: 1434621
Form Type: 10-Q Quarterly Report
Accession Number: 0001434621-20-000025
Submitted to the SEC: Tue May 05 2020 4:11:27 PM EST
Accepted by the SEC: Tue May 05 2020
Period: tree, Inc. (TREE) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020
Industry: Loan Brokers

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