LendingTree (TREE) 10-Q 27 Jul 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Jul. 24, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-34063
Entity Registrant Name	LendingTree, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-2414818
Entity Address, Address Line One	1415 Vantage Park Dr.
Entity Address, Address Line Two	Suite 700
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28203
City Area Code	704
Local Phone Number	541-5351
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	TREE
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		12,971,481
Entity Central Index Key	0001434621
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement and Statement of Comprehensive Income [Abstract]
Revenue	$ 182,453	$ 261,923	$ 382,961	$ 545,101
Costs and expenses:
Cost of revenue (exclusive of depreciation and amortization shown separately below)	9,302	14,574	23,062	30,135
Selling and marketing expense	116,065	184,537	253,176	388,694
General and administrative expense	29,160	40,291	65,843	76,268
Product development	10,601	14,318	25,256	28,370
Depreciation	4,684	4,896	9,479	9,750
Amortization of intangibles	1,982	7,075	4,031	14,992
Restructuring and severance	3,558	135	8,012	3,760
Litigation settlements and contingencies	488	(7)	500	(34)
Total costs and expenses	175,840	265,819	389,359	551,935
Operating income (loss)	6,613	(3,896)	(6,398)	(6,834)
Other income (expense), net:
Interest (expense) income, net	(6,940)	(6,765)	18,089	(14,270)
Other income	439	284	2,273	283
Income (loss) before income taxes	112	(10,377)	13,964	(20,821)
Income tax (expense) benefit	(227)	2,339	(622)	1,957
Net (loss) income and comprehensive (loss) income	(115)	(8,038)	13,342	(18,864)
Comprehensive (loss) income	$ (115)	$ (8,038)	$ 13,342	$ (18,864)
Weighted average shares outstanding:
Basic (in shares)	12,915	12,723	12,881	12,812
Diluted (in shares)	12,915	12,723	12,912	12,812
Net (loss) income per share:
Basic (in dollars per share)	$ (0.01)	$ (0.63)	$ 1.04	$ (1.47)
Diluted (in dollars per share)	$ (0.01)	$ (0.63)	$ 1.03	$ (1.47)

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
ASSETS:
Cash and cash equivalents	$ 162,641	$ 298,845
Restricted cash and cash equivalents	34	124
Accounts receivable (net of allowance of $2,609 and $2,317, respectively)	75,710	83,060
Prepaid and other current assets	26,045	26,250
Assets held for sale (Note 7)	0	5,689
Total current assets	264,430	413,968
Property and equipment (net of accumulated depreciation of $35,865 and $33,851, respectively)	56,549	59,160
Operating lease right-of-use assets	64,415	67,050
Goodwill	420,139	420,139
Intangible assets, net	54,284	58,315
Equity investments	173,140	174,580
Other non-current assets	6,182	6,101
Total assets	1,039,139	1,199,313
LIABILITIES:
Current portion of long-term debt	2,500	2,500
Accounts payable, trade	3,174	2,030
Accrued expenses and other current liabilities	74,204	75,095
Liabilities held for sale (Note 7)	0	2,909
Total current liabilities	79,878	82,534
Long-term debt	625,240	813,516
Operating lease liabilities	84,599	88,232
Deferred income tax liabilities	7,369	6,783
Other non-current liabilities	338	308
Total liabilities	797,424	991,373
Commitments and contingencies (Note 14)
SHAREHOLDERS' EQUITY:
Preferred stock $0.01 par value; 5,000,000 shares authorized; none issued or outstanding	0	0
Common stock $0.01 par value; 50,000,000 shares authorized; 16,323,675 and 16,167,184 shares issued, respectively, and 12,968,209 and 12,811,718 shares outstanding, respectively	163	162
Additional paid-in capital	1,209,687	1,189,255
Accumulated deficit	(701,957)	(715,299)
Treasury stock; 3,355,466 and 3,355,466 shares, respectively	(266,178)	(266,178)
Total shareholders' equity	241,715	207,940
Total liabilities and shareholders' equity	$ 1,039,139	$ 1,199,313

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for credit loss	$ 2,609	$ 2,317
Accumulated depreciation	$ 35,865	$ 33,851
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	16,323,675	16,167,184
Common stock, shares outstanding	12,968,209	12,811,718
Treasury stock, shares	3,355,466	3,355,466

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Additional Paid-in Capital Cumulative Effect, Period of Adoption, Adjustment	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Treasury Stock
Beginning balance at Dec. 31, 2021	$ 447,992	$ (65,303)	$ 161	$ 1,242,794	$ (109,750)	$ (571,794)	$ 44,447	$ (223,169)
Beginning balance, common (in shares) at Dec. 31, 2021			16,071,000
Beginning balance, treasury (in shares) at Dec. 31, 2021								2,976,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(10,826)					(10,826)
Comprehensive income (loss)	(10,826)					(10,826)
Non-cash compensation	15,080			15,080
Purchase of treasury stock	(43,009)							$ (43,009)
Purchase of treasury stock (in shares)								379,000
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	(3,086)			(3,086)
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes and cancellations (in shares)			49,000
Ending balance at Mar. 31, 2022	340,848		$ 161	1,145,038		(538,173)		$ (266,178)
Ending balance, common (in shares) at Mar. 31, 2022			16,120,000
Ending balance, treasury (in shares) at Mar. 31, 2022								3,355,000
Beginning balance at Dec. 31, 2021	447,992	$ (65,303)	$ 161	1,242,794	$ (109,750)	(571,794)	$ 44,447	$ (223,169)
Beginning balance, common (in shares) at Dec. 31, 2021			16,071,000
Beginning balance, treasury (in shares) at Dec. 31, 2021								2,976,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(18,864)
Comprehensive income (loss)	$ (18,864)
Purchase of treasury stock (in shares)	379,895
Ending balance at Jun. 30, 2022	$ 350,486		$ 161	1,162,714		(546,211)		$ (266,178)
Ending balance, common (in shares) at Jun. 30, 2022			16,141,000
Ending balance, treasury (in shares) at Jun. 30, 2022								3,355,000
Beginning balance at Mar. 31, 2022	340,848		$ 161	1,145,038		(538,173)		$ (266,178)
Beginning balance, common (in shares) at Mar. 31, 2022			16,120,000
Beginning balance, treasury (in shares) at Mar. 31, 2022								3,355,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(8,038)					(8,038)
Comprehensive income (loss)	(8,038)					(8,038)
Non-cash compensation	17,335			17,335
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	341			341
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes and cancellations (in shares)			21,000
Ending balance at Jun. 30, 2022	350,486		$ 161	1,162,714		(546,211)		$ (266,178)
Ending balance, common (in shares) at Jun. 30, 2022			16,141,000
Ending balance, treasury (in shares) at Jun. 30, 2022								3,355,000
Beginning balance at Dec. 31, 2022	$ 207,940		$ 162	1,189,255		(715,299)		$ (266,178)
Beginning balance, common (in shares) at Dec. 31, 2022	12,811,718		16,167,000
Beginning balance, treasury (in shares) at Dec. 31, 2022	3,355,466							3,355,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)	$ 13,457					13,457
Comprehensive income (loss)	13,457					13,457
Non-cash compensation	11,274			11,274
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	(1,693)		$ 1	(1,694)
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes and cancellations (in shares)			98,000
Other	1			1
Ending balance at Mar. 31, 2023	230,979		$ 163	1,198,836		(701,842)		$ (266,178)
Ending balance, common (in shares) at Mar. 31, 2023			16,265,000
Ending balance, treasury (in shares) at Mar. 31, 2023								3,355,000
Beginning balance at Dec. 31, 2022	$ 207,940		$ 162	1,189,255		(715,299)		$ (266,178)
Beginning balance, common (in shares) at Dec. 31, 2022	12,811,718		16,167,000
Beginning balance, treasury (in shares) at Dec. 31, 2022	3,355,466							3,355,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)	$ 13,342
Comprehensive income (loss)	$ 13,342
Purchase of treasury stock (in shares)	0
Ending balance at Jun. 30, 2023	$ 241,715		$ 163	1,209,687		(701,957)		$ (266,178)
Ending balance, common (in shares) at Jun. 30, 2023	12,968,209		16,324,000
Ending balance, treasury (in shares) at Jun. 30, 2023	3,355,466							3,355,000
Beginning balance at Mar. 31, 2023	$ 230,979		$ 163	1,198,836		(701,842)		$ (266,178)
Beginning balance, common (in shares) at Mar. 31, 2023			16,265,000
Beginning balance, treasury (in shares) at Mar. 31, 2023								3,355,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(115)					(115)
Comprehensive income (loss)	(115)					(115)
Non-cash compensation	10,199			10,199
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	652			652
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes and cancellations (in shares)			59,000
Ending balance at Jun. 30, 2023	$ 241,715		$ 163	$ 1,209,687		$ (701,957)		$ (266,178)
Ending balance, common (in shares) at Jun. 30, 2023	12,968,209		16,324,000
Ending balance, treasury (in shares) at Jun. 30, 2023	3,355,466							3,355,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net (loss) income and comprehensive (loss) income	$ 13,342	$ (18,864)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Loss on impairments and disposal of assets	5,167	3,427
Amortization of intangibles	4,031	14,992
Depreciation	9,479	9,750
Non-cash compensation expense	21,473	32,415
Deferred income taxes	586	(2,026)
Bad debt expense	1,894	2,029
Amortization of debt issuance costs	2,736	4,454
Write-off of previously-capitalized debt issuance costs	2,373	0
Amortization of debt discount	0	1,475
Reduction in carrying amount of ROU asset, offset by change in operating lease liabilities	(1,923)	(333)
Gain on settlement of convertible debt	(34,308)	0
Loss on impairment of investments	1,440	0
Changes in current assets and liabilities:
Accounts receivable	6,809	(19,812)
Prepaid and other current assets	280	(5,593)
Accounts payable, accrued expenses and other current liabilities	(4,337)	(5,226)
Income taxes receivable	(227)	(293)
Other, net	(591)	(302)
Net cash provided by operating activities	28,224	16,093
Cash flows from investing activities:
Capital expenditures	(4,853)	(6,346)
Equity investments	0	(16,440)
Net cash used in investing activities	(4,853)	(22,786)
Cash flows from financing activities:
Proceeds from term loan	0	250,000
Repayment of term loan	(1,250)	0
Payments related to net-share settlement of stock-based compensation, net of proceeds from exercise of stock options	(1,042)	(2,745)
Purchase of treasury stock	0	(43,009)
Payment of debt costs	(1,079)	(3)
Net cash (used in) provided by financing activities	(159,665)	34,584
Net (decrease) increase in cash, cash equivalents, restricted cash and restricted cash equivalents	(136,294)	27,891
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	298,969	251,342
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	162,675	279,233
2025 Convertible Notes
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization of debt issuance costs	1,200	1,500
Cash flows from financing activities:
Repurchase of Convertible Senior Notes	(156,294)	0
2022 Convertible Notes
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization of debt issuance costs		400
Cash flows from financing activities:
Repurchase of Convertible Senior Notes	$ 0	$ (169,659)

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Parenthetical)	Jun. 30, 2023 Rate	Jun. 30, 2022
2025 Convertible Notes
Stated interest rate	0.50%
2022 Convertible Notes
Stated interest rate		0.625%

ORGANIZATION

ORGANIZATION	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Company Overview LendingTree, Inc. is the parent of LT Intermediate Company, LLC, which holds all of the outstanding ownership interests of LendingTree, LLC, and LendingTree, LLC owns several companies (collectively, “LendingTree” or the “Company”). LendingTree operates what it believes to be the leading online consumer platform that connects consumers with the choices they need to be confident in their financial decisions. The Company offers consumers tools and resources, including free credit scores, that facilitate comparison-shopping for mortgage loans, home equity loans and lines of credit, auto loans, credit cards, deposit accounts, personal loans, student loans, small business loans, insurance quotes, sales of insurance policies, and other related offerings. The Company primarily seeks to match in-market consumers with multiple providers on its marketplace who can provide them with competing quotes for loans, deposit products, insurance, or other related offerings they are seeking. The Company also serves as a valued partner to lenders and other providers seeking an efficient, scalable, and flexible source of customer acquisition with directly measurable benefits, by matching the consumer inquiries it generates with these providers. The consolidated financial statements include the accounts of LendingTree and all its wholly-owned entities. Intercompany transactions and accounts have been eliminated. Basis of Presentation

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Accounting Estimates Management is required to make certain estimates and assumptions during the preparation of the consolidated financial statements in accordance with GAAP. These estimates and assumptions impact the reported amount of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements. They also impact the reported amount of net earnings during any period. Actual results could differ from those estimates. Significant estimates underlying the accompanying consolidated financial statements include: the recoverability of long-lived assets, goodwill and intangible assets; the determination of income taxes payable and deferred income taxes, including related valuation allowances; fair value of assets acquired in a business combination; litigation accruals; contract assets; various other allowances, reserves and accruals; assumptions related to the determination of stock-based compensation; and the determination of right-of-use assets and lease liabilities. The Company considered the impact of the current economic conditions, including interest rates, inflation, and the COVID-19 pandemic on the assumptions and estimates used when preparing its consolidated financial statements including, but not limited to, the allowance for doubtful accounts, valuation allowances, contract asset, and the recoverability of long-lived assets, goodwill and intangible assets. These assumptions and estimates may change as new events occur and additional information is obtained. If economic conditions worsen, such future changes may have an adverse impact on the Company's results of operations, financial position and liquidity. Certain Risks and Concentrations LendingTree's business is subject to certain risks and concentrations including dependence on third-party technology providers, exposure to risks associated with online commerce security and credit card fraud. Financial instruments, which potentially subject the Company to concentration of credit risk at June 30, 2023, consist primarily of cash and cash equivalents and accounts receivable, as disclosed in the consolidated balance sheet. Cash and cash equivalents are in excess of Federal Deposit Insurance Corporation insurance limits, but are maintained with quality financial institutions of high credit. The Company requires certain Network Partners to maintain security deposits with the Company, which, in the event of non-payment, would be applied against any accounts receivable outstanding. Due to the nature of the mortgage lending industry, interest rate fluctuations may negatively impact future revenue from the Company's marketplace. Lenders and lead purchasers participating on the Company's marketplace can offer their products directly to consumers through brokers, mass marketing campaigns or through other traditional methods of credit distribution. These lenders and lead purchasers can also offer their products online, either directly to prospective borrowers, through one or more online competitors, or both. If a significant number of potential consumers are able to obtain loans and other products from Network Partners without utilizing the Company's services, the Company's ability to generate revenue may be limited. Because the Company does not have exclusive relationships with the Network Partners whose loans and other financial products are offered on its online marketplace, consumers may obtain offers from these Network Partners without using its service. Other than a support services office in India, the Company's operations are geographically limited to and dependent upon the economic condition of the United States. Litigation Settlements and Contingencies Litigation settlements and contingencies consists of expenses related to actual or anticipated litigation settlements. Recently Adopted Accounting Pronouncements In August 2020, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") 2020-06, which simplifies the accounting for convertible instruments, amends the derivatives scope exception guidance for contracts in an entity’s own equity, and amends the related earnings-per-share guidance. Under the new guidance, the embedded conversion features are no longer separated from the host contract for convertible instruments with conversion features that are not required to be accounted for as derivatives under Topic 815, or that do not result in substantial premiums accounted for as paid-in capital. As a result, a convertible debt instrument will be accounted for as a single liability measured at its amortized cost, as long as no other features require bifurcation and recognition as derivatives. The Company adopted ASU 2020-06 on January 1, 2022 using the modified retrospective transition approach and recognized the cumulative effect of initially applying ASU 2020-06 as a $44.4 million adjustment to the opening balance of accumulated deficit, comprised of $60.8 million for the interest adjustment, net of $16.4 million for the related tax impacts. The recombination of the equity conversion component of the Company's convertible debt remaining outstanding caused a reduction in additional paid-in capital and an increase in deferred income tax assets. The removal of the remaining debt discounts recorded for this previous separation had the effect of increasing our net debt balance. ASU 2020-06 also requires the dilutive impact of convertible debt instruments to utilize the if-converted method when calculating diluted earnings per share and the result is more dilutive. The adoption of ASU 2020-06 did not impact the Company's cash flows or compliance with debt covenants. Recently Issued Accounting Pronouncements The Company has considered the applicability of recently issued accounting pronouncements by the Financial Accounting Standards Board and have determined that they are either not applicable or are not expected to have a material impact on the Company's consolidated financial statements.

REVENUE

REVENUE	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Revenue is as follows (in thousands) : Three Months Ended Six Months Ended 2023 2022 2023 2022 Home $ 41,563 $ 73,938 $ 85,238 $ 175,882 Credit cards 21,083 27,306 39,371 57,128 Personal loans 28,137 42,298 51,736 77,508 Other Consumer 33,257 36,540 71,079 72,576 Total Consumer 82,477 106,144 162,186 207,212 Insurance 58,398 81,756 135,480 161,794 Other 15 85 57 213 Total revenue $ 182,453 $ 261,923 $ 382,961 $ 545,101 The Company derives its revenue primarily from match fees and closing fees. Revenue is recognized when performance obligations under the terms of a contract with a customer are satisfied and promised services have transferred to the customer. The Company's services are generally transferred to the customer at a point in time. Revenue from Home products is primarily generated from upfront match fees paid by mortgage Network Partners that receive a loan request, and in some cases upfront fees for clicks or call transfers. Match fees and upfront fees for clicks and call transfers are earned through the delivery of loan requests that originated through the Company's websites or affiliates. The Company recognizes revenue at the time a loan request is delivered to the customer, provided that no significant obligations remain. The Company's contractual right to the match fee consideration is contemporaneous with the satisfaction of the performance obligation to deliver a loan request to the customer. Revenue from Consumer products is generated by match and other upfront fees for clicks or call transfers, as well as from closing fees, approval fees and upfront service and subscription fees. Closing fees are derived from lenders on certain auto loans, business loans, personal loans, and student loans when the lender funds a loan with the consumer. Approval fees are derived from credit card issuers when the credit card consumer receives card approval from the credit card issuer. Upfront service fees and subscription fees are derived from consumers in the Company's credit services product. Upfront fees paid by consumers are recognized as revenue over the estimated time the consumer will remain a customer and receive services. Subscription fees are recognized over the period a consumer is receiving services. As of the second quarter of 2023, the Company discontinued providing its credit services product to consumers and no longer receives upfront and subscription fees. The Company recognizes revenue on closing fees and approval fees at the point when a loan request or a credit card consumer is delivered to the customer. The Company's contractual right to closing fees and approval fees is not contemporaneous with the satisfaction of the performance obligation to deliver a loan request or a credit card consumer to the customer. As such, the Company records a contract asset at each reporting period-end related to the estimated variable consideration on closing fees and approval fees for which the Company has satisfied the related performance obligation but are still pending the loan closing or credit card approval before the Company has a contractual right to payment. This estimate is based on the Company's historical closing rates and historical time between when a consumer request for a loan or credit card is delivered to the lender or card issuer and when the loan is closed by the lender or approved by the card issuer. Revenue from the Company's Insurance products is primarily generated from upfront match fees and upfront fees for website clicks or fees for calls. Match fees and upfront fees for clicks and call transfers are earned through the delivery of consumer requests that originated through the Company's websites or affiliates. The Company recognizes revenue at the time a consumer request is delivered to the customer, provided that no significant obligations remain. The Company's contractual right to the match fee consideration is contemporaneous with the satisfaction of the performance obligation to deliver a consumer request to the customer. The contract asset recorded within prepaid and other current assets on the consolidated balance sheets related to estimated variable consideration was $13.5 million and $12.2 million at June 30, 2023 and December 31, 2022, respectively. The contract liability recorded within accrued expenses and other current liabilities on the consolidated balance sheets related to upfront fees paid by consumers was $0.9 million at December 31, 2022. During the second quarter and first six months of 2023, the Company recognized revenue of $0.1 million and $0.9 million, respectively, that was included in the contract liability balance at December 31, 2022. During the second quarter and first six months of 2022, the Company recognized revenue of $0.1 million and $0.8 million that was included in the contract liability balance at December 31, 2021. Revenue recognized in any reporting period includes estimated variable consideration for which the Company has satisfied the related performance obligations but are still pending the occurrence or non-occurrence of a future event outside the Company's control (such as lenders providing loans to consumers or credit card approvals of consumers) before the Company has a contractual right to payment. The Company recognized decreases to such revenue from prior periods. This decrease was $0.9 million in the second quarter of 2023, and not material in the second quarter of 2022.

CASH AND RESTRICTED CASH

CASH AND RESTRICTED CASH	6 Months Ended
	Jun. 30, 2023
Cash and Cash Equivalents [Abstract]
CASH AND RESTRICTED CASH	CASH AND RESTRICTED CASH Total cash, cash equivalents, restricted cash and restricted cash equivalents consist of the following (in thousands) : June 30, December 31, Cash and cash equivalents $ 162,641 $ 298,845 Restricted cash and cash equivalents 34 124 Total cash, cash equivalents, restricted cash and restricted cash equivalents $ 162,675 $ 298,969

ALLOWANCE FOR DOUBTFUL ACCOUNTS

ALLOWANCE FOR DOUBTFUL ACCOUNTS	6 Months Ended
	Jun. 30, 2023
Credit Loss [Abstract]
ALLOWANCE FOR DOUBTFUL ACCOUNTS	ALLOWANCE FOR DOUBTFUL ACCOUNTS Accounts receivable are stated at amounts due from customers, net of an allowance for doubtful accounts. The Company determines its allowance for doubtful accounts by considering a number of factors, including the length of time accounts receivable are past due, previous loss history, current and expected economic conditions and the specific customer's current and expected ability to pay its obligation. Accounts receivable are considered past due when they are outstanding longer than the contractual payment terms. Accounts receivable are written off when management deems them uncollectible. A reconciliation of the beginning and ending balances of the allowance for doubtful accounts is as follows (in thousands) : Three Months Ended Six Months Ended 2023 2022 2023 2022 Balance, beginning of the period $ 2,688 $ 1,803 $ 2,317 $ 1,456 Charges to earnings 931 1,179 1,894 2,029 Write-off of uncollectible accounts receivable (1,010) (682) (1,973) (1,185) Assets held for sale (Note 7) — — 371 — Balance, end of the period $ 2,609 $ 2,300 $ 2,609 $ 2,300

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS The balance of goodwill, net and intangible assets, net is as follows (in thousands) : June 30, December 31, Goodwill $ 903,227 $ 903,227 Accumulated impairment losses (483,088) (483,088) Net goodwill $ 420,139 $ 420,139 Intangible assets with indefinite lives $ 10,142 $ 10,142 Intangible assets with definite lives, net 44,142 48,173 Total intangible assets, net $ 54,284 $ 58,315 Goodwill and Indefinite-Lived Intangible Assets The Company's goodwill at each of June 30, 2023 and December 31, 2022 consists of $59.3 million associated with the Home segment, $166.1 million associated with the Consumer segment, and $194.7 million associated with the Insurance segment. At June 30, 2022, the Company assessed the qualitative factors in its impairment testing of goodwill and determined that the effects of the challenging interest rate environment, consumer price inflation, and the decline in the Company's market capitalization required a quantitative impairment test be performed. The quantitative goodwill impairment test found that the fair value of each reporting unit exceeded its carrying amount, indicating no goodwill impairment. The Company will monitor the recovery of the Insurance reporting unit and the Mortgage reporting unit. The property and casualty auto industry is experiencing challenges caused by inflation, supply chain challenges, and rising severity and frequency of claims. Additionally, the significant increase in mortgage interest rates have had a negative impact on the Mortgage reporting unit. Changes in the timing of the recovery compared to current expectations could cause an impairment to the Insurance or Mortgage reporting unit. Intangible assets with indefinite lives relate to the Company's trademarks. Intangible Assets with Definite Lives Intangible assets with definite lives relate to the following (in thousands) : Cost Accumulated Net Customer lists 77,300 (33,830) 43,470 Trademarks and tradenames 9,100 (8,428) 672 Balance at June 30, 2023 $ 86,400 $ (42,258) $ 44,142 Cost Accumulated Net Customer lists $ 77,300 $ (30,775) $ 46,525 Trademarks and tradenames 10,100 (8,452) 1,648 Balance at December 31, 2022 $ 87,400 $ (39,227) $ 48,173 Amortization of intangible assets with definite lives is computed on a straight-line basis and, based on balances as of June 30, 2023, future amortization is estimated to be as follows (in thousands) : Amortization Expense Remainder of current year $ 3,664 Year ending December 31, 2024 5,889 Year ending December 31, 2025 5,830 Year ending December 31, 2026 5,504 Year ending December 31, 2027 5,198 Thereafter 18,057 Total intangible assets with definite lives, net $ 44,142 See Note 7—Assets and Liabilities Held for Sale for intangible assets with definite lives classified as held for sale.

ASSETS AND LIABILITIES HELD FOR

ASSETS AND LIABILITIES HELD FOR SALE	6 Months Ended
	Jun. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
ASSETS AND LIABILITIES HELD FOR SALE	ASSETS AND LIABILITIES HELD FOR SALE In the fourth quarter of 2022, the Company approved a plan to sell its Ovation credit services business, an asset group associated with the Company's Consumer segment. The asset group was expected to be sold in 2023 to an unrelated third party and is classified, at its carrying value, as current assets held for sale and current liabilities held for sale in the consolidated balance sheet as of December 31, 2022. In the first quarter of 2023, the third party withdrew the letter of intent to purchase the asset group held for sale. The Company made the decision to close the Ovation credit services business. As a result, the Company recorded asset impairment charges of $4.2 million, of which $2.1 million related to intangible assets, $1.7 million related to property and equipment, and $0.4 million related to an operating lease right-of-use asset. The carrying value of the accounts receivable, prepaid and other assets, and other non-current assets previously held for sale, and the liabilities previously held for sale approximate their fair value and were no longer classified as assets and liabilities held for sale in the consolidated balance sheet as of March 31, 2023. The following table presents information related to the major classes of assets and liabilities that were classified as held for sale (in thousands) : December 31, 2022 Accounts receivable, net of allowance $ 1,353 Prepaid and other current assets 79 Property and equipment, net of accumulated depreciation of $1,102 1,665 Operating lease right-of-use assets 436 Intangible assets, net of accumulated amortization of $3,857 2,143 Other non-current assets 13 Total assets held for sale $ 5,689 Accounts payable, trade $ 253 Accrued expenses and other current liabilities 2,551 Operating lease liabilities 105 Total liabilities held for sale $ 2,909

EQUITY INVESTMENT

EQUITY INVESTMENT	6 Months Ended
	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
EQUITY INVESTMENT	EQUITY INVESTMENTThe investments in equity securities do not have a readily determinable fair value and, upon their acquisition, the Company elected the measurement alternative to value its securities. The equity securities will be carried at cost less impairment, if any, and subsequently measured to fair value upon observable price changes in an orderly transaction for the identical or similar investments with any gains or losses recorded to the consolidated statement of operations and comprehensive income. In the second quarter of 2023, the Company recorded an impairment charge of $1.4 million on one of its investments. The impairment is included within other income on the consolidated statement of operations and comprehensive income. As of December 31, 2022, there had been no impairments to the acquisition cost of the equity securities.

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consist of the following (in thousands) : June 30, December 31, Accrued advertising expense $ 35,294 $ 37,703 Accrued compensation and benefits 10,497 11,444 Accrued professional fees 1,387 1,393 Customer deposits and escrows 7,459 7,273 Contribution to LendingTree Foundation — 500 Current lease liabilities 8,777 8,513 Accrued restructuring and severance 2,608 304 Other 8,182 7,965 Total accrued expenses and other current liabilities $ 74,204 $ 75,095 See Note 7—Assets and Liabilities Held for Sale for accrued expenses and other current liabilities classified as held for sale.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS' EQUITY Basic and diluted income per share was determined based on the following share data (in thousands) : Three Months Ended Six Months Ended 2023 2022 2023 2022 Weighted average basic common shares 12,915 12,723 12,881 12,812 Effect of stock options — — 10 — Effect of dilutive share awards — — 21 — Weighted average diluted common shares 12,915 12,723 12,912 12,812 For the second quarter of 2023, the Company was in a net loss position and, as a result, no potentially dilutive securities were included in the denominator for computing diluted loss per share, because the impact would have been anti-dilutive. Accordingly, the weighted average basic shares outstanding was used to compute loss per share. For the second quarter of 2023, the weighted average shares that were anti-dilutive, and therefore excluded from the calculation of diluted income per share, included options to purchase 1.2 million shares of common stock and 0.6 million restricted stock units. For the first six months of 2023, the weighted average shares that were anti-dilutive, and therefore excluded from the calculation of diluted income per share, included options to purchase 1.0 million shares of common stock and 0.5 million restricted stock units. For the second quarter and first six months of 2022, the Company was in a net loss position and, as a result, no potentially dilutive securities were included in the denominator for computing diluted loss per share, because the impact would have been anti-dilutive. Accordingly, the weighted average basic shares outstanding was used to compute loss per share. Approximately 0.2 million shares related to potentially dilutive securities were excluded from the calculation of diluted loss per share for the second quarter and first six months of 2022 because their inclusion would have been anti-dilutive. For the second quarter of 2022, the weighted average shares that were anti-dilutive, and therefore excluded from the calculation of diluted income per share, included options to purchase 1.0 million shares of common stock and 0.5 million restricted stock units. For the first six months of 2022, the weighted average shares that were anti-dilutive, and therefore excluded from the calculation of diluted income per share, included options to purchase 1.0 million and 0.4 million restricted stock units. The convertible notes and the warrants issued by the Company could be converted into the Company’s common stock, subject to certain contingencies. See Note 13—Debt for additional information. On January 1, 2022, the Company adopted ASU 2020-06 using the modified retrospective method. Following the adoption, the if-converted method is used for diluted net income per share calculation of our convertible notes. Prior to the adoption of ASU 2020-06 the dilutive impact of the convertible notes was calculated using the treasury stock method. See Note 2—Significant Accounting Policies for additional information. Approximately 0.8 million and 1.2 million shares related to the potentially dilutive shares of the Company's common stock associated with the 0.50% Convertible Senior Notes due July 15, 2025 were excluded from the calculation of diluted loss (income) per share for the second quarter and first six months of 2023, respectively, because their inclusion would have been anti-dilutive. Approximately 2.1 million shares related to the potentially dilutive shares of the Company's common stock associated with the 0.50% Convertible Senior Notes due July 15, 2025 and the 0.625% Convertible Senior Notes due June 1, 2022 were excluded from the calculation of diluted loss per share for the second quarter and first six months of 2022 because their inclusion would have been anti-dilutive. Shares of the Company's stock associated with the warrants issued by the Company in 2020 were excluded from the calculation of diluted loss per share for the second quarter and first six months of 2023, and shares of the Company's stock associated with the warrants issued by the Company in 2017 and 2020 were excluded from the calculation of diluted loss per share for the second quarter and first six months of 2022 as they were anti-dilutive since the strike price of the warrants was greater than the average market price of the Company's common stock during the relevant periods. Common Stock Repurchases In each of February 2018 and February 2019, the board of directors authorized and the Company announced the repurchase of up to $100.0 million and $150.0 million, respectively, of LendingTree's common stock. During the first six months of 2023, the Company did not repurchase shares of its common stock. During the first six months of 2022, the Company repurchased 379,895 shares of its common stock pursuant to the stock repurchase program. At June 30, 2023, approximately $96.7 million of the previous authorizations to repurchase common stock remain available.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Non-cash compensation related to equity awards is included in the following line items in the accompanying consolidated statements of operations and comprehensive income (in thousands) : Three Months Ended Six Months Ended 2023 2022 2023 2022 Cost of revenue $ 31 $ 442 $ 245 $ 835 Selling and marketing expense 1,336 2,285 3,080 4,324 General and administrative expense 6,550 11,873 13,893 21,473 Product development 1,287 2,735 3,189 4,700 Restructuring and severance 995 — 1,066 1,083 Total non-cash compensation $ 10,199 $ 17,335 $ 21,473 $ 32,415 Stock Options A summary of changes in outstanding stock options is as follows: Number of Options Weighted Weighted Aggregate Intrinsic Value (a) (per option) (in years) (in thousands) Options outstanding at January 1, 2023 805,079 $ 155.10 Granted — — Exercised — — Forfeited (7,763) 132.89 Expired (49,250) 224.70 Options outstanding at June 30, 2023 748,066 150.75 4.78 $ — Options exercisable at June 30, 2023 569,185 $ 129.77 3.80 $ — (a) The aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Company's closing stock price of $22.11 on the last trading day of the quarter ended June 30, 2023 and the exercise price, multiplied by the number of shares covered by in-the-money options) that would have been received by the option holder had the option holder exercised these options on June 30, 2023. The intrinsic value changes based on the market value of the Company's common stock. Stock Options with Market Conditions A summary of changes in outstanding stock options with market conditions at target is as follows: Number of Options with Market Conditions Weighted Weighted Aggregate Intrinsic Value (a) (per option) (in years) (in thousands) Options outstanding at January 1, 2023 734,685 $ 230.79 Granted — — Exercised — — Forfeited — — Expired (16,247) 308.96 Options outstanding at June 30, 2023 718,438 229.02 5.18 $ — Options exercisable at June 30, 2023 481,669 $ 195.10 4.10 $ — (a) The aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Company's closing stock price of $22.11 on the last trading day of the quarter ended June 30, 2023 and the exercise price, multiplied by the number of shares covered by in-the-money options) that would have been received by the option holder had the option holder exercised these options on June 30, 2023. The intrinsic value changes based on the market value of the Company's common stock. As of June 30, 2023, a maximum of 395,404 shares may be earned for achieving superior performance up to 167% of the remaining unvested target number of shares. As of June 30, 2023, no additional performance-based nonqualified stock options with a market condition had been earned. Restricted Stock Units A summary of changes in outstanding nonvested restricted stock units (“RSUs”) is as follows: RSUs Number of Units Weighted Average Grant Date Fair Value (per unit) Nonvested at January 1, 2023 485,053 $ 127.46 Granted 389,738 32.71 Vested (175,087) 138.76 Forfeited (104,948) 74.16 Nonvested at June 30, 2023 594,756 $ 71.79 Restricted Stock Units with Performance Conditions A summary of changes in outstanding nonvested RSUs with performance conditions is as follows: RSUs with Performance Conditions Number of Units Weighted Average Grant Date Fair Value (per unit) Nonvested at January 1, 2023 16,000 $ 83.25 Granted — — Vested — — Forfeited (16,000) 83.25 Nonvested at June 30, 2023 — $ — Employee Stock Purchase Plan In 2021, the Company implemented an employee stock purchase plan (“ESPP”), under which a total of 262,731 shares of the Company's common stock were reserved for issuance. As of June 30, 2023, 190,277 shares of common stock were available for issuance under the ESPP. The ESPP is a tax-qualified plan under Section 423 of the Internal Revenue Code. Under the terms of the ESPP, eligible employees are granted options to purchase shares of the Company's common stock at 85% of the lesser of (1) the fair market value at time of grant or (2) the fair market value at time of exercise. The offering periods and purchase periods are typically six-month periods ending on June 30 and December 31 of each year. During the six months ended June 30, 2023, 36,536 shares were issued under the ESPP. During the six months ended June 30, 2023 and 2022, the Company granted employee stock purchase rights to certain employees with a grant date fair value per share of $8.19 and $35.43, respectively, calculated using the Black-Scholes option pricing model. For purposes of determining stock-based compensation expense, the grant date fair value per share estimated using the Black-Scholes option pricing model required the use of the following key assumptions: Six Months Ended 2023 2022 Expected term (1) 0.50 years 0.50 years Expected dividend (2) — — Expected volatility (3) 82 % 49% Risk-free interest rate (4) 4.76 % 0.19% (1) The expected term was calculated using the time period between the grant date and the purchase date. (2) No dividends are expected to be paid, resulting in a zero expected dividend rate. (3) The expected volatility rate is based on the historical volatility of the Company's common stock. (4) The risk-free interest rate is specific to the date of grant. The risk-free interest rate is based on U.S. Treasury yields for notes with comparable expected terms as the employee stock purchase rights, in effect at the grant date.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Three Months Ended Six Months Ended 2023 2022 2023 2022 (in thousands, except percentages) Income tax (expense) benefit $ (227) $ 2,339 $ (622) $ 1,957 Effective tax rate 202.7 % 22.5 % 4.5 % 9.4 % For the second quarter and first six months of 2023, the effective tax rate varied from the federal statutory rate of 21% primarily due to the change in the valuation allowance, net of the current period change in tax effected net indefinite-lived intangibles. For the second quarter and first six months of 2022, the effective tax rate varied from the federal statutory rate of 21% primarily due to excess tax expense of $0.4 million and $2.9 million, resulting from vesting of restricted stock in accordance with ASU 2016-09 and the effect of state taxes. The Company has a valuation allowance against the net deferred tax assets, with the exception of the deferred tax liabilities that result from indefinite-life intangibles. The Company has determined that using the general methodology for calculating income taxes during an interim period for the quarter ending June 30, 2023 provided for a wide range of potential annual effective rates. Therefore, the Company has calculated the tax provision on a discrete basis under ASC 740-270-30- 36(b) for the quarter ending June 30, 2023. At September 30, 2022, the Company recorded a net deferred tax asset of zero as the cumulative net deferred tax asset had a full valuation on it and there was not enough positive evidence that would warrant recognizing the benefit of the net deferred tax asset. In addition, the net indefinite lived deferred tax items were determined to be a net liability resulting in the recognition of a deferred tax liability. Three Months Ended Six Months Ended 2023 2022 2023 2022 (in thousands) Income tax benefit - excluding excess tax expense on stock compensation $ (227) $ 2,777 $ (622) $ 4,863 Excess tax expense on stock compensation — (438) — (2,906) Income tax (expense) benefit $ (227) $ 2,339 $ (622) $ 1,957

DEBT

DEBT	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
DEBT	DEBT Convertible Senior Notes 2025 Notes On July 24, 2020, the Company issued $575.0 million aggregate principal amount of its 0.50% Convertible Senior Notes due July 15, 2025 (the “2025 Notes”) in a private placement. The 2025 Notes bear interest at a rate of 0.50% per year, payable semi-annually on January 15 and July 15 of each year, beginning on January 15, 2021. The 2025 Notes will mature on July 15, 2025, unless earlier repurchased, redeemed or converted. The initial conversion rate of the 2025 Notes is 2.1683 shares of the Company's common stock per $1,000 principal amount of 2025 Notes (which is equivalent to an initial conversion price of approximately $461.19 per share). On March 8, 2023, the Company repurchased approximately $190.6 million in principal amount of its 2025 Notes, through individual privately-negotiated transactions with certain holders of the 2025 Notes, for $156.3 million in cash plus accrued and unpaid interest of approximately $0.1 million. In the first quarter of 2023, the Company recognized a gain on the extinguishment of debt of $34.3 million, a loss on the write-off of unamortized debt issuance costs of $2.4 million and incurred debt repayment costs of $1.0 million, all of which are included in interest income/expense, net in the consolidated statements of operations and comprehensive income. Holders of the 2025 Notes were not entitled to convert the 2025 Notes during the calendar quarter ended June 30, 2023 as the last reported sale price of the Company's common stock, for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on March 31, 2023, was not greater than or equal to 130% of the conversion price of the 2025 Notes on each applicable trading day. In the first six months of 2023, the Company recorded interest expense on the 2025 Notes of $2.3 million which consisted of $1.1 million associated with the 0.50% coupon rate and $1.2 million associated with the amortization of the debt issuance costs. In the first six months of 2022, the Company recorded interest expense on the 2025 Notes of $3.0 million which consisted of $1.5 million associated with the 0.50% coupon rate and $1.5 million associated with the amortization of the debt issuance costs. As of June 30, 2023, the fair value of the 2025 Notes is estimated to be approximately $296.0 million using the Level 1 observable input of the last quoted market price on June 30, 2023. A summary of the gross carrying amount, debt issuance costs, and net carrying value of the 2025 Notes, all of which is recorded as a non-current liability in the June 30, 2023 consolidated balance sheet, are as follows (in thousands) : June 30, December 31, Gross carrying amount $ 384,398 $ 575,000 Debt issuance costs 4,158 7,734 Net carrying amount $ 380,240 $ 567,266 2022 Notes On May 31, 2017, the Company issued $300.0 million aggregate principal amount of its 0.625% Convertible Senior Notes due June 1, 2022 (the "2022 Notes") in a private placement. In the first six months of 2022, the Company recorded interest expense on the 2022 Notes of $0.8 million which consisted of $0.4 million associated with the 0.625% coupon rate and $0.4 million associated with the amortization of the debt issuance costs. The 2022 Notes were fully settled in June 2022. Convertible Note Hedge and Warrant Transactions 2020 Hedge and Warrants On July 24, 2020, in connection with the issuance of the 2025 Notes, the Company entered into Convertible Note Hedge (the “2020 Hedge”) and warrant transactions with respect to the Company’s common stock. The 2020 Hedge transactions cover 1.2 million shares of the Company’s common stock, the same number of shares initially underlying the 2025 Notes, and are exercisable upon any conversion of the 2025 Notes. The 2020 Hedge transactions are expected generally to reduce the potential dilution to the Company's common stock upon conversion of the 2025 Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of the converted 2025 Notes, as the case may be, in the event that the market price per share of common stock, as measured under the terms of the 2020 Hedge transactions, is greater than the strike price of the 2020 Hedge transactions, which initially corresponds to the initial conversion price of the 2025 Notes, or approximately $461.19 per share of common stock. The 2020 Hedge transactions will expire upon the maturity of the 2025 Notes. On July 24, 2020, the Company sold to the counterparties, warrants (the “2020 Warrants”) to acquire 1.2 million shares of the Company's common stock at an initial strike price of $709.52 per share, which represents a premium of 100% over the last reported sale price of the common stock of $354.76 on July 21, 2020. If the market price per share of the common stock, as measured under the terms of the 2020 Warrants, exceeds the strike price of the 2020 Warrants, the 2020 Warrants could have a dilutive effect, unless the Company elects, subject to certain conditions, to settle the 2020 Warrants in cash. In connection with the March 8, 2023 repurchases of the 2025 Notes noted above, the Company entered into agreements with the counterparties for the 2020 Hedge and 2020 Warrants transactions to terminate a portion of these call spread transactions effective March 8, 2023 in notional amounts corresponding to the principal amount of the 2025 Notes repurchased. Subsequent to such termination, the outstanding portion of the 2020 Hedge covers 0.8 million shares of the Company's common stock and 2020 Warrants to acquire 0.8 million shares of the Company's common stock remain outstanding. Credit Facility On September 15, 2021, the Company entered into a credit agreement (the “Credit Agreement”), consisting of a $200.0 million revolving credit facility (the “Revolving Facility”), which matures on September 15, 2026, and a $250.0 million delayed draw term loan facility (the “Term Loan Facility” and together with the Revolving Facility, the “Credit Facility”), which matures on September 15, 2028. As of June 30, 2023, the Company had $247.5 million of borrowings outstanding under the Term Loan Facility bearing interest at the LIBO option rate of 9.0% and had no borrowings under the Revolving Facility. As of December 31, 2022, the Company had $248.8 million of borrowings outstanding under the Credit Facility and no borrowings under the Revolving Facility. As of June 30, 2023, borrowings of $2.5 million under the Term Loan Facility are recorded as current portion of long-term debt on the consolidated balance sheet. At each of June 30, 2023 and December 31, 2022, the Company had outstanding one letter of credit issued in the amount of $0.2 million. The Company was in compliance with all covenants at June 30, 2023. In the first six months of 2023, the Company recorded interest expense related to its Revolving Facility of $0.7 million which consisted of $0.2 million in unused commitment fees and $0.5 million associated with the amortization of the debt issuance costs. In the first six months of 2023, the Company recorded interest expense related to the Term Loan Facility of $10.7 million associated with borrowings bearing interest at the LIBO rate. In the first six months of 2022, the Company recorded interest expense related to its revolving credit facilities of $0.7 million which consisted of $0.2 million in unused commitment fees, and $0.5 million associated with the amortization of the debt issuance costs. In the first six months of 2022, the Company recorded interest expense related to the Term Loan Facility of $9.6 million which consisted of $1.0 million associated with borrowings bearing interest at the LIBO rate, $5.1 million in unused commitment fees, $2.0 million associated with the amortization of the debt issuance costs, and $1.5 million associated with the amortization of the original issue discount.

CONTINGENCIES

CONTINGENCIES	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES Overview LendingTree is involved in legal proceedings on an ongoing basis. In assessing the materiality of a legal proceeding, the Company evaluates, among other factors, the amount of monetary damages claimed, as well as the potential impact of non-monetary remedies sought by plaintiffs (e.g., injunctive relief) that may require it to change its business practices in a manner that could have a material and adverse impact on the Company's business. With respect to the matters disclosed in this Note 14, unless otherwise indicated, the Company is unable to estimate the possible loss or range of losses that could potentially result from the application of such non-monetary remedies.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Other than the convertible notes and warrants, as well as the equity interests, the carrying amounts of the Company's financial instruments are equal to fair value at June 30, 2023. See Note 13—Debt for additional information on the convertible notes and warrants.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company manages its business and reports its financial results through the following three operating and reportable segments: Home, Consumer, and Insurance. Characteristics which were relied upon in making the determination of the reportable segments include the nature of the products, the organization's internal structure, and the information that is regularly reviewed by the chief operating decision maker for the purpose of assessing performance and allocating resources. The Home segment includes the following products: purchase mortgage, refinance mortgage, and home equity loans and lines of credit. The Company ceased offering reverse mortgage loans in the fourth quarter of 2022. The Consumer segment includes the following products: credit cards, personal loans, small business loans, student loans, auto loans, deposit accounts, and other credit products such as credit repair and debt settlement. The Insurance segment consists of insurance quote products and sales of insurance policies in the agency businesses. The following tables are a reconciliation of segment profit, which is the Company's primary segment profitability measure, to income before income taxes. Segment marketing expense represents the portion of selling and marketing expense attributable to variable costs paid for advertising, direct marketing and related expenses, that are directly attributable to the segments' products. This measure excludes overhead, fixed costs and personnel-related expenses. Three Months Ended June 30, 2023 Home Consumer Insurance Other Total (in thousands) Revenue $ 41,563 $ 82,477 $ 58,398 $ 15 $ 182,453 Segment marketing expense 28,216 41,807 33,647 274 103,944 Segment profit (loss) 13,347 40,670 24,751 (259) 78,509 Cost of revenue 9,302 Brand and other marketing expense 12,121 General and administrative expense 29,160 Product development 10,601 Depreciation 4,684 Amortization of intangibles 1,982 Restructuring and severance 3,558 Litigation settlements and contingencies 488 Operating income 6,613 Interest expense, net (6,940) Other income 439 Income before income taxes $ 112 Three Months Ended June 30, 2022 Home Consumer Insurance Other Total (in thousands) Revenue $ 73,938 $ 106,144 $ 81,756 $ 85 $ 261,923 Segment marketing expense 47,198 61,556 59,172 232 168,158 Segment profit (loss) 26,740 44,588 22,584 (147) 93,765 Cost of revenue 14,574 Brand and other marketing expense 16,379 General and administrative expense 40,291 Product development 14,318 Depreciation 4,896 Amortization of intangibles 7,075 Restructuring and severance 135 Litigation settlements and contingencies (7) Operating loss (3,896) Interest expense, net (6,765) Other income 284 Loss before income taxes $ (10,377) Six Months Ended June 30, 2023 Home Consumer Insurance Other Total (in thousands) Revenue $ 85,238 $ 162,186 $ 135,480 $ 57 $ 382,961 Segment marketing expense 56,783 86,640 80,577 495 224,495 Segment profit (loss) 28,455 75,546 54,903 (438) 158,466 Cost of revenue 23,062 Brand and other marketing expense 28,681 General and administrative expense 65,843 Product development 25,256 Depreciation 9,479 Amortization of intangibles 4,031 Restructuring and severance 8,012 Litigation settlements and contingencies 500 Operating loss (6,398) Interest income, net 18,089 Other income 2,273 Income before income taxes $ 13,964 Six Months Ended June 30, 2022 Home Consumer Insurance Other Total (in thousands) Revenue $ 175,882 $ 207,212 $ 161,794 $ 213 $ 545,101 Segment marketing expense 113,233 120,117 118,107 415 351,872 Segment profit (loss) 62,649 87,095 43,687 (202) 193,229 Cost of revenue 30,135 Brand and other marketing expense 36,822 General and administrative expense 76,268 Product development 28,370 Depreciation 9,750 Amortization of intangibles 14,992 Restructuring and severance 3,760 Litigation settlements and contingencies (34) Operating loss (6,834) Interest expense, net (14,270) Other income 283 Loss before income taxes $ (20,821)

RESTRUCTURING ACTIVITIES

RESTRUCTURING ACTIVITIES	6 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
RESTRUCTURING ACTIVITIES	RESTRUCTURING ACTIVITIES On April 6, 2023, the Company made the decision to close the Ovation credit services business ( the "Ovation Closure".) The Ovation Closure includes the elimination of approximately 197 employees, or 18%, of the Company's current workforce. As a result of the Ovation Closure, the Company incurred $2.1 million in restructuring expense in connection with cash expenditures for employee separation costs. The Ovation Closure, including cash payments, is expected to be completed by the first quarter of 2024. On March 24, 2023, the Company committed to a workforce reduction plan (the “Reduction Plan”), to reduce operating costs. The Reduction Plan includes the elimination of approximately 162 employees, or 13%, of the Company’s current workforce. As a result of the Reduction Plan, the Company estimates that it will incur approximately $5.3 million in severance charges in connection with the workforce reduction, consisting of cash expenditures for employee separation costs of approximately $4.3 million and non-cash charges for the accelerated vesting of certain equity awards of approximately $1.0 million. The Company has incurred restructuring expense of $4.3 million in the first quarter of 2023 and an additional $1.0 million of restructuring expense in the second quarter of 2023 related to the Reduction Plan. The Reduction Plan, including cash payments, is expected to be substantially completed by the end of the second quarter of 2024. During 2022, the Company completed workforce reductions in each of the first, second, and fourth quarters of approximately 75 employees, 25 employees, and 50 employees, respectively. In the first six months of 2022, the Company incurred total expense of $3.8 million consisting of employee separation costs of $2.7 million and non-cash compensation expense of $1.1 million due to the accelerated vesting of certain equity awards. All employee separation costs for 2022 actions are expected to be paid by the third quarter of 2023. Accrued Balance at December 31, 2022 Income Statement Impact Payments Non-Cash Accrued Balance at June 30, 2023 Q2 2023 action Employee separation payments $ — $ 2,064 $ (1,404) $ — $ 660 Q1 2023 action Employee separation payments — 4,261 (2,935) — 1,326 Non-cash compensation — 1,066 — (1,066) — 2022 action Employee separation payments 304 25 $ (273) — 56 $ 304 $ 7,416 $ (4,612) $ (1,066) $ 2,042

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (115)	$ 13,457	$ (8,038)	$ (10,826)	$ 13,342	$ (18,864)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Accounting Estimates	Accounting Estimates Management is required to make certain estimates and assumptions during the preparation of the consolidated financial statements in accordance with GAAP. These estimates and assumptions impact the reported amount of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements. They also impact the reported amount of net earnings during any period. Actual results could differ from those estimates. Significant estimates underlying the accompanying consolidated financial statements include: the recoverability of long-lived assets, goodwill and intangible assets; the determination of income taxes payable and deferred income taxes, including related valuation allowances; fair value of assets acquired in a business combination; litigation accruals; contract assets; various other allowances, reserves and accruals; assumptions related to the determination of stock-based compensation; and the determination of right-of-use assets and lease liabilities. The Company considered the impact of the current economic conditions, including interest rates, inflation, and the COVID-19 pandemic on the assumptions and estimates used when preparing its consolidated financial statements including, but not limited to, the allowance for doubtful accounts, valuation allowances, contract asset, and the recoverability of long-lived assets, goodwill and intangible assets. These assumptions and estimates may change as new events occur and additional
Certain Risks and Concentrations	Certain Risks and Concentrations LendingTree's business is subject to certain risks and concentrations including dependence on third-party technology providers, exposure to risks associated with online commerce security and credit card fraud. Financial instruments, which potentially subject the Company to concentration of credit risk at June 30, 2023, consist primarily of cash and cash equivalents and accounts receivable, as disclosed in the consolidated balance sheet. Cash and cash equivalents are in excess of Federal Deposit Insurance Corporation insurance limits, but are maintained with quality financial institutions of high credit. The Company requires certain Network Partners to maintain security deposits with the Company, which, in the event of non-payment, would be applied against any accounts receivable outstanding. Due to the nature of the mortgage lending industry, interest rate fluctuations may negatively impact future revenue from the Company's marketplace. Lenders and lead purchasers participating on the Company's marketplace can offer their products directly to consumers through brokers, mass marketing campaigns or through other traditional methods of credit distribution. These lenders and lead purchasers can also offer their products online, either directly to prospective borrowers, through one or more online competitors, or both. If a significant number of potential consumers are able to obtain loans and other products from Network Partners without utilizing the Company's services, the Company's ability to generate revenue may be limited. Because the Company does not have exclusive relationships with the Network Partners whose loans and other financial products are offered on its online marketplace, consumers may obtain offers from these Network Partners without using its service. Other than a support services office in India, the Company's operations are geographically limited to and dependent upon the economic condition of the United States.
Litigation Settlements and Contingencies	Litigation Settlements and Contingencies Litigation settlements and contingencies consists of expenses related to actual or anticipated litigation settlements.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In August 2020, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") 2020-06, which simplifies the accounting for convertible instruments, amends the derivatives scope exception guidance for contracts in an entity’s own equity, and amends the related earnings-per-share guidance. Under the new guidance, the embedded conversion features are no longer separated from the host contract for convertible instruments with conversion features that are not required to be accounted for as derivatives under Topic 815, or that do not result in substantial premiums accounted for as paid-in capital. As a result, a convertible debt instrument will be accounted for as a single liability measured at its amortized cost, as long as no other features require bifurcation and recognition as derivatives. The Company adopted ASU 2020-06 on January 1, 2022 using the modified retrospective transition approach and recognized the cumulative effect of initially applying ASU 2020-06 as a $44.4 million adjustment to the opening balance of accumulated deficit, comprised of $60.8 million for the interest adjustment, net of $16.4 million for the related tax impacts. The recombination of the equity conversion component of the Company's convertible debt remaining outstanding caused a reduction in additional paid-in capital and an increase in deferred income tax assets. The removal of the remaining debt discounts recorded for this previous separation had the effect of increasing our net debt balance. ASU 2020-06 also requires the dilutive impact of convertible debt instruments to utilize the if-converted method when calculating diluted earnings per share and the result is more dilutive. The adoption of ASU 2020-06 did not impact the Company's cash flows or compliance with debt covenants. Recently Issued Accounting Pronouncements The Company has considered the applicability of recently issued accounting pronouncements by the Financial Accounting Standards Board and have determined that they are either not applicable or are not expected to have a material impact on the Company's consolidated financial statements.
Equity Investment	The investments in equity securities do not have a readily determinable fair value and, upon their acquisition, the Company elected the measurement alternative to value its securities. The equity securities will be carried at cost less impairment, if any, and subsequently measured to fair value upon observable price changes in an orderly transaction for the identical or similar investments with any gains or losses recorded to the consolidated statement of operations and comprehensive income.
Income Taxes	The Company has a valuation allowance against the net deferred tax assets, with the exception of the deferred tax liabilities that result from indefinite-life intangibles. The Company has determined that using the general methodology for calculating income taxes during an interim period for the quarter ending June 30, 2023 provided for a wide range of potential annual effective rates. Therefore, the Company has calculated the tax provision on a discrete basis under ASC 740-270-30- 36(b) for the quarter ending June 30, 2023.

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Revenue is as follows (in thousands) : Three Months Ended Six Months Ended 2023 2022 2023 2022 Home $ 41,563 $ 73,938 $ 85,238 $ 175,882 Credit cards 21,083 27,306 39,371 57,128 Personal loans 28,137 42,298 51,736 77,508 Other Consumer 33,257 36,540 71,079 72,576 Total Consumer 82,477 106,144 162,186 207,212 Insurance 58,398 81,756 135,480 161,794 Other 15 85 57 213 Total revenue $ 182,453 $ 261,923 $ 382,961 $ 545,101

CASH AND RESTRICTED CASH (Table

CASH AND RESTRICTED CASH (Tables)	6 Months Ended
	Jun. 30, 2023
Cash and Cash Equivalents [Abstract]
Schedule of Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	Total cash, cash equivalents, restricted cash and restricted cash equivalents consist of the following (in thousands) : June 30, December 31, Cash and cash equivalents $ 162,641 $ 298,845 Restricted cash and cash equivalents 34 124 Total cash, cash equivalents, restricted cash and restricted cash equivalents $ 162,675 $ 298,969
Schedule of Cash and Cash Equivalents	Total cash, cash equivalents, restricted cash and restricted cash equivalents consist of the following (in thousands) : June 30, December 31, Cash and cash equivalents $ 162,641 $ 298,845 Restricted cash and cash equivalents 34 124 Total cash, cash equivalents, restricted cash and restricted cash equivalents $ 162,675 $ 298,969

ALLOWANCE FOR DOUBTFUL ACCOUN_2

ALLOWANCE FOR DOUBTFUL ACCOUNTS (Tables)	6 Months Ended
	Jun. 30, 2023
Credit Loss [Abstract]
Reconciliation of Allowance For Doubtful Accounts	A reconciliation of the beginning and ending balances of the allowance for doubtful accounts is as follows (in thousands) : Three Months Ended Six Months Ended 2023 2022 2023 2022 Balance, beginning of the period $ 2,688 $ 1,803 $ 2,317 $ 1,456 Charges to earnings 931 1,179 1,894 2,029 Write-off of uncollectible accounts receivable (1,010) (682) (1,973) (1,185) Assets held for sale (Note 7) — — 371 — Balance, end of the period $ 2,609 $ 2,300 $ 2,609 $ 2,300

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Balance of Goodwill, Net and Intangible Assets, Net	The balance of goodwill, net and intangible assets, net is as follows (in thousands) : June 30, December 31, Goodwill $ 903,227 $ 903,227 Accumulated impairment losses (483,088) (483,088) Net goodwill $ 420,139 $ 420,139 Intangible assets with indefinite lives $ 10,142 $ 10,142 Intangible assets with definite lives, net 44,142 48,173 Total intangible assets, net $ 54,284 $ 58,315
Schedule of Intangible Assets with Definite Lives	Intangible assets with definite lives relate to the following (in thousands) : Cost Accumulated Net Customer lists 77,300 (33,830) 43,470 Trademarks and tradenames 9,100 (8,428) 672 Balance at June 30, 2023 $ 86,400 $ (42,258) $ 44,142 Cost Accumulated Net Customer lists $ 77,300 $ (30,775) $ 46,525 Trademarks and tradenames 10,100 (8,452) 1,648 Balance at December 31, 2022 $ 87,400 $ (39,227) $ 48,173
Schedule of Amortization of Intangible Assets with Definite Lives	Amortization of intangible assets with definite lives is computed on a straight-line basis and, based on balances as of June 30, 2023, future amortization is estimated to be as follows (in thousands) : Amortization Expense Remainder of current year $ 3,664 Year ending December 31, 2024 5,889 Year ending December 31, 2025 5,830 Year ending December 31, 2026 5,504 Year ending December 31, 2027 5,198 Thereafter 18,057 Total intangible assets with definite lives, net $ 44,142

ASSETS AND LIABILITIES HELD F_2

ASSETS AND LIABILITIES HELD FOR SALE (Tables)	6 Months Ended
	Jun. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Assets and Liabilities Classified As Held For Sale	The following table presents information related to the major classes of assets and liabilities that were classified as held for sale (in thousands) : December 31, 2022 Accounts receivable, net of allowance $ 1,353 Prepaid and other current assets 79 Property and equipment, net of accumulated depreciation of $1,102 1,665 Operating lease right-of-use assets 436 Intangible assets, net of accumulated amortization of $3,857 2,143 Other non-current assets 13 Total assets held for sale $ 5,689 Accounts payable, trade $ 253 Accrued expenses and other current liabilities 2,551 Operating lease liabilities 105 Total liabilities held for sale $ 2,909

ACCRUED EXPENSES AND OTHER CU_2

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following (in thousands) : June 30, December 31, Accrued advertising expense $ 35,294 $ 37,703 Accrued compensation and benefits 10,497 11,444 Accrued professional fees 1,387 1,393 Customer deposits and escrows 7,459 7,273 Contribution to LendingTree Foundation — 500 Current lease liabilities 8,777 8,513 Accrued restructuring and severance 2,608 304 Other 8,182 7,965 Total accrued expenses and other current liabilities $ 74,204 $ 75,095

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Income per Share	Basic and diluted income per share was determined based on the following share data (in thousands) : Three Months Ended Six Months Ended 2023 2022 2023 2022 Weighted average basic common shares 12,915 12,723 12,881 12,812 Effect of stock options — — 10 — Effect of dilutive share awards — — 21 — Weighted average diluted common shares 12,915 12,723 12,912 12,812

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Non-cash Compensation Related to Equity Awards	Non-cash compensation related to equity awards is included in the following line items in the accompanying consolidated statements of operations and comprehensive income (in thousands) : Three Months Ended Six Months Ended 2023 2022 2023 2022 Cost of revenue $ 31 $ 442 $ 245 $ 835 Selling and marketing expense 1,336 2,285 3,080 4,324 General and administrative expense 6,550 11,873 13,893 21,473 Product development 1,287 2,735 3,189 4,700 Restructuring and severance 995 — 1,066 1,083 Total non-cash compensation $ 10,199 $ 17,335 $ 21,473 $ 32,415
Summary of Changes in Outstanding Stock Options	A summary of changes in outstanding stock options is as follows: Number of Options Weighted Weighted Aggregate Intrinsic Value (a) (per option) (in years) (in thousands) Options outstanding at January 1, 2023 805,079 $ 155.10 Granted — — Exercised — — Forfeited (7,763) 132.89 Expired (49,250) 224.70 Options outstanding at June 30, 2023 748,066 150.75 4.78 $ — Options exercisable at June 30, 2023 569,185 $ 129.77 3.80 $ —
Summary of Changes in Outstanding Stock Options with Market Conditions	A summary of changes in outstanding stock options with market conditions at target is as follows: Number of Options with Market Conditions Weighted Weighted Aggregate Intrinsic Value (a) (per option) (in years) (in thousands) Options outstanding at January 1, 2023 734,685 $ 230.79 Granted — — Exercised — — Forfeited — — Expired (16,247) 308.96 Options outstanding at June 30, 2023 718,438 229.02 5.18 $ — Options exercisable at June 30, 2023 481,669 $ 195.10 4.10 $ — (a) The aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Company's closing stock price of $22.11 on the last trading day of the quarter ended June 30, 2023 and the exercise price, multiplied by the number of shares covered by in-the-money options) that would have been received by the option holder had the option holder exercised these options on June 30, 2023. The intrinsic value changes based on the market value of the Company's common stock.
Summary of Changes in Outstanding Nonvested RSUs with Performance Conditions and Nonvested RSAs with Market Conditions	A summary of changes in outstanding nonvested restricted stock units (“RSUs”) is as follows: RSUs Number of Units Weighted Average Grant Date Fair Value (per unit) Nonvested at January 1, 2023 485,053 $ 127.46 Granted 389,738 32.71 Vested (175,087) 138.76 Forfeited (104,948) 74.16 Nonvested at June 30, 2023 594,756 $ 71.79 A summary of changes in outstanding nonvested RSUs with performance conditions is as follows: RSUs with Performance Conditions Number of Units Weighted Average Grant Date Fair Value (per unit) Nonvested at January 1, 2023 16,000 $ 83.25 Granted — — Vested — — Forfeited (16,000) 83.25 Nonvested at June 30, 2023 — $ —
Summary of Employee Stock Purchase Plan Valuation Assumptions	For purposes of determining stock-based compensation expense, the grant date fair value per share estimated using the Black-Scholes option pricing model required the use of the following key assumptions: Six Months Ended 2023 2022 Expected term (1) 0.50 years 0.50 years Expected dividend (2) — — Expected volatility (3) 82 % 49% Risk-free interest rate (4) 4.76 % 0.19% (1) The expected term was calculated using the time period between the grant date and the purchase date. (2) No dividends are expected to be paid, resulting in a zero expected dividend rate. (3) The expected volatility rate is based on the historical volatility of the Company's common stock. (4) The risk-free interest rate is specific to the date of grant. The risk-free interest rate is based on U.S. Treasury yields for notes with comparable expected terms as the employee stock purchase rights, in effect at the grant date.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Schedule of Income Tax (Expense) Benefit and Effective Tax Rate	Three Months Ended Six Months Ended 2023 2022 2023 2022 (in thousands, except percentages) Income tax (expense) benefit $ (227) $ 2,339 $ (622) $ 1,957 Effective tax rate 202.7 % 22.5 % 4.5 % 9.4 %
Reconciliation of Income Tax (Expense) Benefit	Three Months Ended Six Months Ended 2023 2022 2023 2022 (in thousands) Income tax benefit - excluding excess tax expense on stock compensation $ (227) $ 2,777 $ (622) $ 4,863 Excess tax expense on stock compensation — (438) — (2,906) Income tax (expense) benefit $ (227) $ 2,339 $ (622) $ 1,957

DEBT (Table)

DEBT (Table)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Component of the Notes	A summary of the gross carrying amount, debt issuance costs, and net carrying value of the 2025 Notes, all of which is recorded as a non-current liability in the June 30, 2023 consolidated balance sheet, are as follows (in thousands) : June 30, December 31, Gross carrying amount $ 384,398 $ 575,000 Debt issuance costs 4,158 7,734 Net carrying amount $ 380,240 $ 567,266

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information by Segment	The following tables are a reconciliation of segment profit, which is the Company's primary segment profitability measure, to income before income taxes. Segment marketing expense represents the portion of selling and marketing expense attributable to variable costs paid for advertising, direct marketing and related expenses, that are directly attributable to the segments' products. This measure excludes overhead, fixed costs and personnel-related expenses. Three Months Ended June 30, 2023 Home Consumer Insurance Other Total (in thousands) Revenue $ 41,563 $ 82,477 $ 58,398 $ 15 $ 182,453 Segment marketing expense 28,216 41,807 33,647 274 103,944 Segment profit (loss) 13,347 40,670 24,751 (259) 78,509 Cost of revenue 9,302 Brand and other marketing expense 12,121 General and administrative expense 29,160 Product development 10,601 Depreciation 4,684 Amortization of intangibles 1,982 Restructuring and severance 3,558 Litigation settlements and contingencies 488 Operating income 6,613 Interest expense, net (6,940) Other income 439 Income before income taxes $ 112 Three Months Ended June 30, 2022 Home Consumer Insurance Other Total (in thousands) Revenue $ 73,938 $ 106,144 $ 81,756 $ 85 $ 261,923 Segment marketing expense 47,198 61,556 59,172 232 168,158 Segment profit (loss) 26,740 44,588 22,584 (147) 93,765 Cost of revenue 14,574 Brand and other marketing expense 16,379 General and administrative expense 40,291 Product development 14,318 Depreciation 4,896 Amortization of intangibles 7,075 Restructuring and severance 135 Litigation settlements and contingencies (7) Operating loss (3,896) Interest expense, net (6,765) Other income 284 Loss before income taxes $ (10,377) Six Months Ended June 30, 2023 Home Consumer Insurance Other Total (in thousands) Revenue $ 85,238 $ 162,186 $ 135,480 $ 57 $ 382,961 Segment marketing expense 56,783 86,640 80,577 495 224,495 Segment profit (loss) 28,455 75,546 54,903 (438) 158,466 Cost of revenue 23,062 Brand and other marketing expense 28,681 General and administrative expense 65,843 Product development 25,256 Depreciation 9,479 Amortization of intangibles 4,031 Restructuring and severance 8,012 Litigation settlements and contingencies 500 Operating loss (6,398) Interest income, net 18,089 Other income 2,273 Income before income taxes $ 13,964 Six Months Ended June 30, 2022 Home Consumer Insurance Other Total (in thousands) Revenue $ 175,882 $ 207,212 $ 161,794 $ 213 $ 545,101 Segment marketing expense 113,233 120,117 118,107 415 351,872 Segment profit (loss) 62,649 87,095 43,687 (202) 193,229 Cost of revenue 30,135 Brand and other marketing expense 36,822 General and administrative expense 76,268 Product development 28,370 Depreciation 9,750 Amortization of intangibles 14,992 Restructuring and severance 3,760 Litigation settlements and contingencies (34) Operating loss (6,834) Interest expense, net (14,270) Other income 283 Loss before income taxes $ (20,821)

RESTRUCTURING ACTIVITIES (Table

RESTRUCTURING ACTIVITIES (Tables)	6 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Schedule of Rollforward of Accrued Balance for Restructuring Activities	Accrued Balance at December 31, 2022 Income Statement Impact Payments Non-Cash Accrued Balance at June 30, 2023 Q2 2023 action Employee separation payments $ — $ 2,064 $ (1,404) $ — $ 660 Q1 2023 action Employee separation payments — 4,261 (2,935) — 1,326 Non-cash compensation — 1,066 — (1,066) — 2022 action Employee separation payments 304 25 $ (273) — 56 $ 304 $ 7,416 $ (4,612) $ (1,066) $ 2,042

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Jan. 01, 2022	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total shareholders' equity	$ 241,715	$ 230,979	$ 207,940	$ 350,486	$ 340,848		$ 447,992
Accumulated Deficit
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total shareholders' equity	$ (701,957)	$ (701,842)	$ (715,299)	$ (546,211)	$ (538,173)	$ 44,400	$ (571,794)
Interest adjustment due to ASU 2020-06 adoption						60,800
Tax impacts due to ASU 2020-06 adoption						$ 16,400

REVENUE - Disaggregation of Rev

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 182,453	$ 261,923	$ 382,961	$ 545,101
Other
Disaggregation of Revenue [Line Items]
Revenue	15	85	57	213
Home
Disaggregation of Revenue [Line Items]
Revenue	41,563	73,938	85,238	175,882
Credit cards
Disaggregation of Revenue [Line Items]
Revenue	21,083	27,306	39,371	57,128
Personal loans
Disaggregation of Revenue [Line Items]
Revenue	28,137	42,298	51,736	77,508
Other Consumer
Disaggregation of Revenue [Line Items]
Revenue	33,257	36,540	71,079	72,576
Total Consumer
Disaggregation of Revenue [Line Items]
Revenue	82,477	106,144	162,186	207,212
Insurance
Disaggregation of Revenue [Line Items]
Revenue	$ 58,398	$ 81,756	$ 135,480	$ 161,794

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Contract asset	$ 13.5		$ 13.5		$ 12.2
Contract liability					$ 0.9
Revenue recognized from prior period	0.1	$ 0.1	$ 0.9	$ 0.8
Estimated variable consideration, decrease in revenue	$ 0.9	$ 0

CASH AND RESTRICTED CASH (Detai

CASH AND RESTRICTED CASH (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 162,641	$ 298,845
Restricted cash and cash equivalents	34	124
Total cash, cash equivalents, restricted cash and restricted cash equivalents	$ 162,675	$ 298,969	$ 279,233	$ 251,342

ALLOWANCE FOR DOUBTFUL ACCOUN_3

ALLOWANCE FOR DOUBTFUL ACCOUNTS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of the period	$ 2,688	$ 1,803	$ 2,317	$ 1,456
Charges to earnings	931	1,179	1,894	2,029
Write-off of uncollectible accounts receivable	(1,010)	(682)	(1,973)	(1,185)
Assets held for sale (Note 7)	0	0	371	0
Balance, end of the period	$ 2,609	$ 2,300	$ 2,609	$ 2,300

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Schedule of Balance of Goodwill, Net and Intangible Assets, Net (Details ) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 903,227	$ 903,227
Accumulated impairment losses	(483,088)	(483,088)
Net goodwill	420,139	420,139
Intangible assets with indefinite lives	10,142	10,142
Intangible assets with definite lives, net	44,142	48,173
Total intangible assets, net	$ 54,284	$ 58,315

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2023	Dec. 31, 2022
Intangible assets with definite lives
Goodwill		$ 903,227,000	$ 903,227,000
Goodwill impairment	$ 0
Home
Intangible assets with definite lives
Goodwill		59,300,000	59,300,000
Total Consumer
Intangible assets with definite lives
Goodwill		166,100,000	166,100,000
Insurance
Intangible assets with definite lives
Goodwill		$ 194,700,000	$ 194,700,000

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Schedule of Intangible Assets with Definite Lives (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Intangible assets with definite lives
Cost	$ 86,400	$ 87,400
Accumulated Amortization	(42,258)	(39,227)
Total intangible assets with definite lives, net	44,142	48,173
Customer lists
Intangible assets with definite lives
Cost	77,300	77,300
Accumulated Amortization	(33,830)	(30,775)
Total intangible assets with definite lives, net	43,470	46,525
Trademarks and tradenames
Intangible assets with definite lives
Cost	9,100	10,100
Accumulated Amortization	(8,428)	(8,452)
Total intangible assets with definite lives, net	$ 672	$ 1,648

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS - Schedule of Amortization of Intangible Assets with Definite Lives (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Amortization of intangible assets with definite lives computed on a straight-line basis
Remainder of current year	$ 3,664
2024	5,889
2025	5,830
2026	5,504
2027	5,198
Thereafter	18,057
Total intangible assets with definite lives, net	$ 44,142	$ 48,173

ASSETS AND LIABILITIES HELD F_3

ASSETS AND LIABILITIES HELD FOR SALE - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Discontinued Operations and Disposal Groups [Abstract]
Asset impairment charges	$ 4.2
Intangible asset impairment charges	2.1
Property and equipment impairment charges	1.7
Operating lease right-of-use asset impairment charges	$ 0.4

ASSETS AND LIABILITIES HELD F_4

ASSETS AND LIABILITIES HELD FOR SALE - Assets and Liabilities Classified As Held For Sale (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total liabilities held for sale	$ 0	$ 2,909
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations | Total Consumer
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts receivable, net of allowance		1,353
Prepaid and other current assets		79
Property and equipment, net of accumulated depreciation of $1,102		1,665
Operating lease right-of-use assets		436
Intangible assets, net of accumulated amortization of $3,857		2,143
Other non-current assets		13
Total assets held for sale		5,689
Accounts payable, trade		253
Accrued expenses and other current liabilities		2,551
Operating lease liabilities		105
Total liabilities held for sale		2,909
Accumulated depreciation		1,102
Accumulated amortization		$ 3,857

EQUITY INVESTMENT (Details)

EQUITY INVESTMENT (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Loss on impairment of investments	$ 1,400	$ 1,440	$ 0	$ 0

ACCRUED EXPENSES AND OTHER CU_3

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Accrued expenses and other current liabilities
Accrued advertising expense	$ 35,294	$ 37,703
Accrued compensation and benefits	10,497	11,444
Accrued professional fees	1,387	1,393
Customer deposits and escrows	7,459	7,273
Contribution to LendingTree Foundation	0	500
Current lease liabilities	8,777	8,513
Accrued restructuring and severance	2,608	304
Other	8,182	7,965
Total accrued expenses and other current liabilities	$ 74,204	$ 75,095

SHAREHOLDERS' EQUITY (Details)

SHAREHOLDERS' EQUITY (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jul. 24, 2020	Feb. 28, 2019	Feb. 28, 2018	May 31, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average basic common shares (in shares)	12,915,000	12,723,000	12,881,000	12,812,000
Effect of stock options (in shares)	0	0	10,000	0
Effect of dilutive share awards (in shares)	0	0	21,000	0
Weighted average diluted common shares (in shares)	12,915,000	12,723,000	12,912,000	12,812,000
Additional disclosure
Antidilutive securities excluded from computation of earnings per share (in shares)		200,000		200,000
Common stock repurchases
Value of common stock authorized to be repurchased						$ 150	$ 100
Repurchased shares of common stock under stock repurchase program (in shares)			0	379,895
Remaining authorized repurchase amount	$ 96.7		$ 96.7
2025 Convertible Notes
Additional disclosure
Stated interest rate	0.50%		0.50%
2025 Convertible Notes | Convertible Debt
Additional disclosure
Stated interest rate	0.50%		0.50%		0.50%
2022 Convertible Notes
Additional disclosure
Stated interest rate		0.625%		0.625%
2022 Convertible Notes | Convertible Debt
Additional disclosure
Stated interest rate	0.625%		0.625%					0.625%
Option
Additional disclosure
Antidilutive securities excluded from computation of earnings per share (in shares)	1,200,000	1,000,000	1,000,000	1,000,000
Restricted Stock Units (RSUs)
Additional disclosure
Antidilutive securities excluded from computation of earnings per share (in shares)	600,000	500,000	500,000	400,000
Convertible Debt
Additional disclosure
Antidilutive securities excluded from computation of earnings per share (in shares)	800,000	2,100,000	1,200,000	2,100,000

STOCK-BASED COMPENSATION - Sche

STOCK-BASED COMPENSATION - Schedule of Non-cash Compensation Related to Equity Awards (Details ) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	$ 10,199	$ 17,335	$ 21,473	$ 32,415
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	31	442	245	835
Selling and marketing expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	1,336	2,285	3,080	4,324
General and administrative expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	6,550	11,873	13,893	21,473
Product development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	1,287	2,735	3,189	4,700
Restructuring and severance
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	$ 995	$ 0	$ 1,066	$ 1,083

STOCK-BASED COMPENSATION - Summ

STOCK-BASED COMPENSATION - Summary of Stock Options and Stock Options with Market Conditions (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares
Stock options, Grant Date Fair Value Valuation
Share price (in dollars per share) | $ / shares	$ 22.11
Option
Stock options, Shares
Outstanding at the beginning of the period (in shares)	805,079
Granted (in shares)	0
Exercised (in shares)	0
Forfeited (in shares)	(7,763)
Expired (in shares)	(49,250)
Outstanding at the end of the period (in shares)	748,066
Options exercisable at the end of the period (in shares)	569,185
Stock options, Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share) | $ / shares	$ 155.10
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	132.89
Expired (in dollars per share) | $ / shares	224.70
Outstanding at the end of the period (in dollars per share) | $ / shares	150.75
Options exercisable at the end of the period (in dollars per share) | $ / shares	$ 129.77
Stock options, Weighted Average Remaining Contractual Term
Options outstanding at the end of the period (in years)	4 years 9 months 10 days
Options exercisable at the end of the period (in years)	3 years 9 months 18 days
Stock options, Aggregate Intrinsic Value
Outstanding at the end of the period | $	$ 0
Options exercisable at the end of the period | $	$ 0
Market options
Stock options, Shares
Outstanding at the beginning of the period (in shares)	734,685
Granted (in shares)	0
Exercised (in shares)	0
Forfeited (in shares)	0
Expired (in shares)	(16,247)
Outstanding at the end of the period (in shares)	718,438
Options exercisable at the end of the period (in shares)	481,669
Stock options, Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share) | $ / shares	$ 230.79
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	0
Expired (in dollars per share) | $ / shares	308.96
Outstanding at the end of the period (in dollars per share) | $ / shares	229.02
Options exercisable at the end of the period (in dollars per share) | $ / shares	$ 195.10
Stock options, Weighted Average Remaining Contractual Term
Options outstanding at the end of the period (in years)	5 years 2 months 4 days
Options exercisable at the end of the period (in years)	4 years 1 month 6 days
Stock options, Aggregate Intrinsic Value
Outstanding at the end of the period | $	$ 0
Options exercisable at the end of the period | $	$ 0
Stock options, Grant Date Fair Value Valuation
Maximum number of shared to be earned	395,404
Percentage of target number of shares	167%
Performance awards earned (in shares)	0

STOCK-BASED COMPENSATION - Su_2

STOCK-BASED COMPENSATION - Summary of RSA & RSU (Details)	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Restricted Stock Units (RSUs)
Nonvested RSUs and Restricted Stock Units, Number of Shares
Nonvested at the beginning of the period (in shares) | shares	485,053
Granted (in shares) | shares	389,738
Vested (in shares) | shares	(175,087)
Forfeited (in shares) | shares	(104,948)
Nonvested at the end of the period (in shares) | shares	594,756
Nonvested RSUs and Restricted Stock Units,, Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share) | $ / shares	$ 127.46
Granted (in dollars per share) | $ / shares	32.71
Vested (in dollars per share) | $ / shares	138.76
Forfeited (in dollars per share) | $ / shares	74.16
Nonvested at the end of the period (in dollars per share) | $ / shares	$ 71.79
Restricted Stock Units with Performance Conditions
Nonvested RSUs and Restricted Stock Units, Number of Shares
Nonvested at the beginning of the period (in shares) | shares	16,000
Granted (in shares) | shares	0
Vested (in shares) | shares	0
Forfeited (in shares) | shares	(16,000)
Nonvested at the end of the period (in shares) | shares	0
Nonvested RSUs and Restricted Stock Units,, Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share) | $ / shares	$ 83.25
Granted (in dollars per share) | $ / shares	0
Vested (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	83.25
Nonvested at the end of the period (in dollars per share) | $ / shares	$ 0

STOCK-BASED COMPENSATION - Empl

STOCK-BASED COMPENSATION - Employee Stock Purchase Plan (Details) - Employee Stock - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares)	190,277		262,731
Purchase price of common stock, percent	85%
Offering period (in months)	6 months
Purchase period (in months)	6 months
Shares issued under ESPP (in shares)	36,536
Grant date fair value (in dollars per share)	$ 8.19	$ 35.43
Expected term (in years)	6 months	6 months
Expected dividend	0%	0%
Expected volatility	82%	49%
Risk-free interest rate	4.76%	0.19%
Expected dividends	$ 0

INCOME TAXES - Summary of Incom

INCOME TAXES - Summary of Income Tax Expense and Effective Tax Rate (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income tax (expense) benefit	$ (227)	$ 2,339	$ (622)	$ 1,957
Effective tax rate	202.70%	22.50%	4.50%	9.40%

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Federal statutory income tax rate	21%	21%	21%	21%
Excess tax expense on stock compensation	$ 0	$ 438	$ 0	$ 2,906
Net deferred tax asset					$ 0

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Income Tax (Expense) Benefit (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income tax benefit - excluding excess tax expense on stock compensation	$ (227)	$ 2,777	$ (622)	$ 4,863
Excess tax expense on stock compensation	0	(438)	0	(2,906)
Income tax (expense) benefit	$ (227)	$ 2,339	$ (622)	$ 1,957

DEBT - Convertible Senior Notes

DEBT - Convertible Senior Notes Narrative (Details)		3 Months Ended	6 Months Ended
	Jul. 24, 2020 USD ($) day $ / shares Rate shares	Mar. 31, 2023 USD ($)	Jun. 30, 2023 USD ($) Rate	Jun. 30, 2022 USD ($)	Mar. 08, 2023 USD ($)	May 31, 2017 USD ($)
Debt Instrument [Line Items]
Gain on extinguishment of debt			$ 34,308,000	$ 0
Write-off of previously-capitalized debt issuance costs			2,373,000	0
Amortization of debt issuance costs			$ 2,736,000	4,454,000
2025 Convertible Notes
Debt Instrument [Line Items]
Stated interest rate | Rate			0.50%
Initial conversion rate, shares per $1,000 principal amount of notes | shares	2.1683
Initial conversion price per share (in dollars per share) | $ / shares	$ 461.19
Debt repurchase amount					$ 190,600,000
Fair value of debt repurchased					156,300,000
Debt repurchased amount, accrued interest					$ 100,000
Gain on extinguishment of debt		$ 34,300,000
Write-off of previously-capitalized debt issuance costs		2,400,000
Debt prepayment costs		$ 1,000,000
Threshold trading days | day	20
Threshold consecutive trading days | day	30
Conversion rate, sales price of common stock as a percentage of the conversion price | Rate	130%
Interest expense			$ 2,300,000	3,000,000
Interest expense recognized associated with the coupon rate			1,100,000	1,500,000
Annual interest rate on convertible senior notes	0.50%
Amortization of debt issuance costs			$ 1,200,000	$ 1,500,000
2025 Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Aggregate principal amount	$ 575,000,000
Stated interest rate	0.50%		0.50%
Fair value			$ 296,000,000
2022 Convertible Notes
Debt Instrument [Line Items]
Stated interest rate				0.625%
Interest expense				$ 800,000
Interest expense recognized associated with the coupon rate				400,000
Annual interest rate on convertible senior notes			0.625%
Amortization of debt issuance costs				$ 400,000
2022 Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Aggregate principal amount						$ 300,000,000
Stated interest rate			0.625%			0.625%

DEBT - Components of Notes (Det

DEBT - Components of Notes (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Net carrying amount	$ 625,240	$ 813,516
2025 Convertible Notes
Debt Instrument [Line Items]
Gross carrying amount	384,398	575,000
Debt issuance costs	4,158	7,734
Net carrying amount	$ 380,240	$ 567,266

DEBT - Convertible Note Hedge a

DEBT - Convertible Note Hedge and Warrant Transactions (Details) - $ / shares shares in Millions	Jun. 30, 2023	Jul. 24, 2020	Jul. 21, 2020
Debt Instrument [Line Items]
Share price (in dollars per share)	$ 22.11
2020 Hedge and Warrants
Debt Instrument [Line Items]
Number of shares covered by the hedge transactions	0.8	1.2
Initial conversion price per share (in dollars per share)		$ 461.19
Strike price of warrants sold (in dollars per share)		$ 709.52
Premium of warrant strike price over sales price of common stock		100%
Share price (in dollars per share)			$ 354.76
Warrants outstanding (in shares)	0.8

DEBT - Credit Facility (Details

DEBT - Credit Facility (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Sep. 15, 2021
Line of Credit Facility [Line Items]
Current portion of long-term debt	$ 2,500,000		$ 2,500,000
Letters of credit outstanding	200,000		200,000
Amortization of debt issuance costs	2,736,000	$ 4,454,000
Amortization of debt discount	0	1,475,000
Credit Agreement | Revolving Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 200,000,000
Interest expense	700,000	700,000
Unused commitment fees	200,000	200,000
Amortization of debt issuance costs	500,000	500,000
Credit Agreement | Delayed Draw Term Loan | Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 250,000,000
Line of credit outstanding	247,500,000		248,800,000
Current portion of long-term debt	2,500,000
Interest expense	$ 10,700,000	9,600,000
Unused commitment fees		5,100,000
Amortization of debt issuance costs		2,000,000
Amortization of debt discount		1,500,000
Credit Agreement | LIBOR | Delayed Draw Term Loan | Line of Credit
Line of Credit Facility [Line Items]
Basis spread on variable rate	9%
Interest expense recognized associated with the coupon rate		$ 1,000,000
Revolving Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Line of credit outstanding	$ 0		$ 0

CONTINGENCIES (Details)

CONTINGENCIES (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Accrued litigation liability	$ 0.6	$ 0.1

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) segment	Jun. 30, 2022 USD ($)
Segment Information
Number of operating segments | segment			3
Number of reportable segments | segment			3
Revenue	$ 182,453	$ 261,923	$ 382,961	$ 545,101
Segment marketing expense	103,944	168,158	224,495	351,872
Segment profit (loss)	78,509	93,765	158,466	193,229
Cost of revenue	9,302	14,574
Brand and other marketing expense	12,121	16,379	28,681	36,822
General and administrative expense	29,160	40,291	65,843	76,268
Product development	10,601	14,318	25,256	28,370
Depreciation	4,684	4,896	9,479	9,750
Amortization of intangibles	1,982	7,075	4,031	14,992
Restructuring and severance	3,558	135	8,012	3,760
Litigation settlements and contingencies	488	(7)	500	(34)
Operating income (loss)	6,613	(3,896)	(6,398)	(6,834)
Interest (expense) income, net	(6,940)	(6,765)	18,089	(14,270)
Other income	439	284	2,273	283
Income (loss) before income taxes	112	(10,377)	13,964	(20,821)
Home
Segment Information
Revenue	41,563	73,938	85,238	175,882
Segment marketing expense	28,216	47,198	56,783	113,233
Segment profit (loss)	13,347	26,740	28,455	62,649
Consumer
Segment Information
Revenue	82,477	106,144	162,186	207,212
Segment marketing expense	41,807	61,556	86,640	120,117
Segment profit (loss)	40,670	44,588	75,546	87,095
Insurance
Segment Information
Revenue	58,398	81,756	135,480	161,794
Segment marketing expense	33,647	59,172	80,577	118,107
Segment profit (loss)	24,751	22,584	54,903	43,687
Other
Segment Information
Revenue	15	85	57	213
Segment marketing expense	274	232	495	415
Segment profit (loss)	$ (259)	$ (147)	$ (438)	$ (202)

RESTRUCTURING ACTIVITIES (Detai

RESTRUCTURING ACTIVITIES (Details) $ in Thousands			3 Months Ended					6 Months Ended		12 Months Ended	18 Months Ended
	Apr. 06, 2023 USD ($) employee	Mar. 24, 2023 USD ($) employee	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) employee	Jun. 30, 2022 USD ($) employee	Mar. 31, 2022 employee	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2024	Sep. 30, 2024
Restructuring Cost and Reserve [Line Items]
Total restructuring charges			$ 3,558			$ 135		$ 8,012	$ 3,760
Restructuring Reserve [Roll Forward]
Income Statement Impact			3,558			$ 135		8,012	3,760
2022 And 2023 Reduction Action
Restructuring Cost and Reserve [Line Items]
Total restructuring charges								7,416
Non-cash compensation due to accelerated vesting of equity awards								1,066
Restructuring Reserve [Roll Forward]
Accrued Balance at beginning of period				$ 304				304
Income Statement Impact								7,416
Payments								(4,612)
Non-Cash								(1,066)
Accrued Balance at end of period			2,042		$ 304			2,042
Q2 2023 action
Restructuring Cost and Reserve [Line Items]
Number of employee positions estimated to be eliminated in workforce reduction | employee	197
Total restructuring charges	$ 2,100
Restructuring Reserve [Roll Forward]
Income Statement Impact	$ 2,100
Q2 2023 action | Forecast
Restructuring Cost and Reserve [Line Items]
Percentage of workforce eliminated										18%
Q1 2023 action
Restructuring Cost and Reserve [Line Items]
Number of employee positions estimated to be eliminated in workforce reduction | employee		162
Total restructuring charges			1,000	4,300
Expected costs to be incurred due to reduction		$ 5,300
Restructuring Reserve [Roll Forward]
Income Statement Impact			1,000	4,300
Q1 2023 action | Forecast
Restructuring Cost and Reserve [Line Items]
Percentage of workforce eliminated											13%
2022 action
Restructuring Cost and Reserve [Line Items]
Total restructuring charges									3,800
Number of employees eliminated in workforce reduction | employee					50	25	75
Separation costs									2,700
Non-cash compensation due to accelerated vesting of equity awards									1,100
Restructuring Reserve [Roll Forward]
Income Statement Impact									3,800
Non-Cash									$ (1,100)
Employee separation payments | Q2 2023 action
Restructuring Cost and Reserve [Line Items]
Total restructuring charges								2,064
Non-cash compensation due to accelerated vesting of equity awards								0
Restructuring Reserve [Roll Forward]
Accrued Balance at beginning of period				0				0
Income Statement Impact								2,064
Payments								(1,404)
Non-Cash								0
Accrued Balance at end of period			660		$ 0			660
Employee separation payments | Q1 2023 action
Restructuring Cost and Reserve [Line Items]
Total restructuring charges								4,261
Expected costs to be incurred due to reduction		4,300
Non-cash compensation due to accelerated vesting of equity awards								0
Restructuring Reserve [Roll Forward]
Accrued Balance at beginning of period				0				0
Income Statement Impact								4,261
Payments								(2,935)
Non-Cash								0
Accrued Balance at end of period			1,326		0			1,326
Employee separation payments | 2022 action
Restructuring Cost and Reserve [Line Items]
Total restructuring charges								25
Non-cash compensation due to accelerated vesting of equity awards								0
Restructuring Reserve [Roll Forward]
Accrued Balance at beginning of period				304				304
Income Statement Impact								25
Payments								(273)
Non-Cash								0
Accrued Balance at end of period			56		304			56
Non-cash compensation | Q1 2023 action
Restructuring Cost and Reserve [Line Items]
Total restructuring charges								1,066
Expected costs to be incurred due to reduction		$ 1,000
Non-cash compensation due to accelerated vesting of equity awards								1,066
Restructuring Reserve [Roll Forward]
Accrued Balance at beginning of period				$ 0				0
Income Statement Impact								1,066
Payments								0
Non-Cash								(1,066)
Accrued Balance at end of period			$ 0		$ 0			$ 0

Uncategorized Items - tree-2023

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2020-06 [Member]