LendingClub Corporation, together with its subsidiaries, operates as an online marketplace that connects borrowers and investors in the United States. Its marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient finance loans, auto refinance loans, and small business loans and lines of credit. The company also offers investors an opportunity to invest in a range of loans based on term and credit characteristics. It serves investors, such as retail investors, high-net-worth individuals and family offices, banks and finance companies, insurance companies, hedge funds, foundations, pension plan...
71 Stevenson Street
San Francisco, CA 94105
Founded in 2006
LendingClub Announces Steve Allocca as New President
May 16 17
LendingClub announced Steve Allocca as President. Allocca will lead the company's efforts to deliver affordable credit to more people across an expanding range of product categories. His unique combination of executive leadership across a wide mix of consumer credit products and an entrepreneurial energy make him an ideal leader as LendingClub returns to growth. Allocca brings more than two decades of fintech and financial services leadership experience to the role. Most recently, Allocca led PayPal's credit division and credit products, driving both the consumer and business lending experiences globally.
LendingClub Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Provides Earnings Guidance for the Second Quarter and Full Year 2017
May 4 17
LendingClub Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, total interest income was $160,996,000 against $177,879,000 a year ago. Total net revenue was $124,482,000 against $152,294,000 a year ago. Loss before income tax expense was $29,884,000 against income of $4,288,000 a year ago. Net loss was $29,844,000 or $0.07 per basic and diluted share against income of $4,137,000 or $0.01 per basic and diluted share a year ago. Adjusted EBITDA was $0.2 million against $26.3 million a year ago. Adjusted net loss was $8,891,000 or $0.02 per diluted share against income of $20,858,000 or $0.05 per diluted share a year ago.
Based on the information available as of May 4, 2017, the company provides the outlook for the full year and second quarter 2017: Total net revenue in the range of $575 million to $595 million; Adjusted EBITDA in the range of $45 million to $55 million. The company expects EBITDA margins in the range of 15% to 20%. The company expects GAAP net loss between $77 million and $67 million loss, which includes stock-based compensation, depreciation and amortization of about $122 million.
For the second quarter of 2017, the company expects total net revenue in the range of $132 million to $137 million; Net loss in the range of $35 million to $30 million; Adjusted EBITDA in the range of negative $2.5 million to positive $2.5 million. The company expects adjusted EBITDA margins in the second quarter of 2017 to be around breakeven, with about $2.5 million of variability on either side, primarily due to uncertainty around nonrecurring expenses and insurance recoveries. The company expects adjusted EBIT to be flat at, plus or minus $2.5 million; with stock-based compensation, depreciation and amortization about $32 million.
LendingClub Corporation to Report Q1, 2017 Results on May 04, 2017
Apr 30 17
LendingClub Corporation announced that they will report Q1, 2017 results After-Market on May 04, 2017