Companies

LendingTree's Insurance Growth Offsets a Consumer Slip

The Tip Desk · July 29, 2026 · 3 min read

Second-quarter revenue was $313.4 million, up 25% from a year earlier, as Insurance revenue reached $209.3 million.

LendingTree, Inc. (TREE), operator of LendingTree.com, reported second-quarter revenue of $313.4 million, up 25% from $250.1 million a year earlier, after a 4% sequential decline from $327.3 million in the first quarter.

The online financial-services marketplace said the year-over-year increase was driven by the Insurance segment, which posted revenue of $209.3 million, up 42% from $147.2 million a year earlier. Insurance segment profit was $50.0 million, up 25% from $40.0 million.

Chief Executive Scott Peyree said the company posted its eighth straight quarter of double-digit year-over-year adjusted EBITDA growth, powered by Insurance. Adjusted EBITDA was $35.2 million, up 11% from $31.8 million a year earlier.

GAAP net income was $9.6 million, or $0.68 a share, up 8% from $8.9 million a year earlier. Variable marketing margin was $87.3 million, up 4% from $83.6 million a year earlier, and equal to 28% of revenue, down from 33% a year earlier.

Consumer, which includes credit cards, personal loans, small business loans, auto loans, deposit accounts and debt settlement, moved the other way. Segment revenue was $60.3 million, down 4% from $62.5 million a year earlier. Segment profit was $27.6 million, down 14% from $32.1 million.

Chief Financial Officer Jason Bengel said solid Insurance results were offset by weaker-than-expected Consumer performance. He said the company had flagged an expected sequential decline in Consumer, driven by suppressed borrower demand in small business, and that the demand trend continued to deteriorate throughout the quarter.

Bengel said appetite from small business owners for new loans on the network has since stabilized, and that the company expects sequential revenue growth through the remainder of the year. He said small business has grown segment revenue nearly 40% year-over-year on average dating back to the beginning of 2024, and that an increase in borrower demand will allow the company to climb back to, and eventually surpass, the record SMB performance in the first quarter of 2026.

Home revenue was $43.9 million, up 9% from $40.4 million a year earlier. Home segment profit was $11.3 million, down 14% from $13.1 million. Within Home, Home Equity revenue was $34.9 million, up 15% from the year-ago period.

Peyree said the company launched several new consumer-facing AI capabilities, including a ChatGPT app, expanded the marketplace into six new verticals, and continued to see results from a homepage redesign.

The company updated its full-year 2026 outlook to revenue of $1.30 billion to $1.32 billion, variable marketing margin of $364 million to $374 million, and adjusted EBITDA of $145 million to $152 million. For the third quarter of 2026, it expects revenue of $325 million to $335 million, variable marketing margin of $88 million to $93 million, and adjusted EBITDA of $34 million to $36 million.

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