- Swept up yesterday in the post-earnings selling in OnDeck Capital, LendingTree (NASDAQ:TREE) is up 1.8% premarket after reporting a Q1 beat, and boosting full-year guidance.
- Q1 revenue of $94.7M up 86% Y/Y. Adjusted EBITDA of $15.8M up 78%.
- Mortgage products revenue of $55M up 49% Y/Y. Non-mortgage of $39.7M up 186%.
- Selling and Marketing expense of $65.1M up 104% Y/Y. Variable marketing margin as a percent of revenue of 36% down 600 basis points.
- Full-year revenue is now expected to be $380M-$390M vs. prior $370M-$380M. Variable marketing margin of $134M-$137M vs. prior $129M-$134M. Adjusted EBITDA of $62M-$65M, up 52-59% from 2015.
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Conference call is just underway
- Previously: LendingTree beats by $0.09, beats on revenue (May 4)