#LendingClub Q4 FY24 #EarningsReport Summary

LendingClub, a leading U.S. digital marketplace bank, concluded Q4 2024 with robust originations and asset growth, driven by enhanced loan initiatives and marketplace demand. Despite macroeconomic challenges, LendingClub showcased resilience and innovation in savings products.

📊 Income Statement Highlights (vs. Q4 FY23):

▫️ Net Income: $9.72M vs. $10.20M (-4.90%)
▫️ Total Revenue: $217.20M vs. $185.60M (+17.00%)
▫️ Adjusted EPS: $0.08 vs. $0.09 (-11.11%)
▫️ Gross Margin: 65.80% vs. 70.06%
▫️ Operating Income: $74.35M vs. $55.60M (+33.70%)
▫️ Marketing Expense to Originations: 1.27% vs. 1.47%
▫️ Provision for Credit Losses: $63.24M vs. $41.90M (+50.83%)
▫️ Loan Originations: $1.85B vs. $1.63B (+13.00%)

🔍 Particular Metrics:
▫️ Net Charge-Offs Improved: $46.00M vs. $82.50M
▫️ ROE: 2.90% vs. 3.30%
▫️ Return on Tangible Common Equity (ROTCE): 3.10% vs. 3.60%
▫️ Tangible Book Value Per Share: $11.09 vs. $10.54 (+5.22%)

💼 Balance Sheet Highlights (vs. Q4 FY23):

▫️ Total Assets: $10.63B vs. $8.83B (+20.36%)
▫️ Deposits: $9.07B vs. $7.33B (+23.73%)
▫️ Loans Held for Investment (net): $3.89B vs. $4.54B (-14.33%)
▫️ Equity: $1.34B vs. $1.25B (+7.19%)
▫️ FDIC-Insured Deposits: 87% of total deposits.
▫️ Liquidity: $3.30B available.

🔮 Future Outlook:

▫️ Q1 2025 Loan Originations: Projected between $1.8B–$1.9B.
▫️ Focus on digital innovation and enhancing savings products like LevelUp Savings, which reached $1.2B balances by year-end.
▫️ Long-term ROTCE expected to exceed 8% by Q4 2025.
#LendingClub #EarningsReport