LendingTree (TREE) Q4 2024 earnings summary

Executive summary

• Q4 2024 revenue reached $261.5 million, up 95% year-over-year, exceeding guidance on strength across all segments.

• Achieved $32.2 million in adjusted EBITDA for Q4 2024, surpassing forecasts, driven by strong Insurance segment performance and year-over-year growth in Home and Consumer segments.

• Returned to growth after a challenging period, with double-digit revenue increases across key products and a positive outlook for continued expansion in 2025.

• Focused on disciplined cost management and operational efficiency, leading to improved operating leverage and a stronger balance sheet.

• Entering 2025 with momentum, expecting stable interest rates and a healthy consumer environment to support further growth.

Financial highlights

• Total revenue grew 95% year-over-year to $261.5 million in Q4 2024, with adjusted EBITDA of $32.2 million, up 108% year-over-year.

• Revenue growth year-over-year in Q4: homeowners insurance +175%, home equity +48%, small business +45%, personal loans and auto loans +21% each, mortgage +12%.

• Variable marketing margin increased 43% year-over-year to $86.7 million (33% of revenue).

• Adjusted net income rose 339% year-over-year to $15.8 million; GAAP net income was $7.5 million ($0.55 per diluted share).

• Achieved 33% adjusted EBITDA growth for full-year 2024; targeting 16% growth at the midpoint for 2025.

Outlook and guidance

• Q1 2025 revenue expected between $241–$248 million; adjusted EBITDA $25–$27 million.

• Full-year 2025 revenue guidance of $985–$1,025 million, up 9–14% from 2024.

• 2025 adjusted EBITDA forecasted at $116–$126 million, up 11–21% year-over-year.

• Double-digit revenue growth expected in Home and Consumer segments; Insurance to see modest growth after a record year.

• Insurance segment growth expected to moderate in 2025, with margins returning to historical norms in the low to mid-30% range.