LendingClub Q4 net income $10.2M, revenue $185.6M; marketplace originations up 21% QoQ

LendingClub Corp

2024-FY EPS reported $0.36

Q4 net income $10.2M ($0.09 diluted EPS); revenue $185.6M, down 29% YoY from $262.7M.
Marketplace originations $1.4B, up 21% QoQ; total loan originations $1.6B.
Capital ratios strong: Tier 1 leverage 12.9%, CET1 17.9%; tangible book value $10.54.
Provision for credit losses $41.9M, down from $64.5M prior quarter on lower retained loan volumes.
Full-year net income $38.9M vs $289.7M in 2022; adjusted net income ex tax benefit $38.9M vs $146.2M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

LendingClub Corp reported fourth quarter and full year ended December 31, 2023 results: revenue Total net revenue of $185.6 million compared to $200.8 million in the prior quarter, net income Net income of $10.2 million, EPS diluted EPS of $0.09.

Period: fourth quarter and full year ended December 31, 2023
Revenue: Total net revenue of $185.6 million compared to $200.8 million in the prior quarter
Net income: Net income of $10.2 million
EPS: diluted EPS of $0.09
Result: reported results

Exact text from the filing

the prior quarter as a result of increased purchases by loan investors; Marketplace originations of $1.4 billion grew 21% compared to the prior quarter. • Total net revenue of $185.6 million compared to $200.8 million in the prior quarter driven by: ◦ Marketplace revenue of $52.2 million compared to $60.9 million in the prior quarter, primarily reflecting a $10.4

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Source: SEC EDGAR

accession 0001409970-24-000003

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