LendingTree (TREE) 25 Feb 212020 Q4 Earnings call transcript

Company Profile

Participants

Trent Ziegler	IR
Doug Lebda	CEO
J.D. Moriarty	CRO
Youssef Squali	Truist Securities
Jed Kelly	Oppenheimer
Stephen Sheldon	William Blair
John Campbell	Stephens
Melissa Wedel	JP Morgan
Rob Wildhack	Autonomous Research
Jamie Friedman	Susquehanna
Kunal Madhukar	Deutsche Bank

Call transcript

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good afternoon, ladies and gentlemen, and welcome to the LendingTree, Inc. Fourth Quarter Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions] As a reminder, this conference is being recorded. to conference like your over now Mr. host, would turn all the to I of Investor VP Ziegler, Trent Relations. ahead. go Please

Trent Ziegler

Great. Thank financial you. this And thanks everybody for discuss fourth morning joining LendingTree’s quarter XXXX results. to the call

me this and CEO; Chief On the Moriarty, call morning Doug Chairman J.D. Lebda, Officer. are Financial and LendingTree’s with

the As brief detailed keep of And to with bulk we again, will shareholders and earlier on your a once a website morning. posted our prepared this relatively remarks our spend reminder, we addressing time letter Investor Relations our that, questions.

everyone today. I Any Before discuss call, are during the subject not LendingTree’s call we Many I the risks uncertainties, and SEC. may statements forward-looking hand in also with described over, want we risks of but performance. materially to remind and to that LendingTree’s actual expectations expressed are could all future face results periodic for differ the reports LendingTree’s today’s filed views from the

We I it to measures will Doug. shareholder available also discuss at measures call on and release comparable measures, with full our non-GAAP you I investors.lendingtree.com letter that, definitions, today’s refer today. of reconciliations and both GAAP website And non-GAAP turn press the on the to for GAAP. a will variety of And to

Doug Lebda

for and everyone Trent, Thanks, thank you joining call. our to

monetary The I’m enter public and on in get massive the year and and like a by Before strategic our encouraged navigated have perspective safety. a It and the I’d XXXX priorities. by havoc business past any the policy. strain on focus was few we health positive with clear wrought reasons momentum increasingly my like economic as countered unlike into fiscal you and why questions, of minutes other. any growth of and unprecedented year we brought to part unemployment spend pandemic we on our XXXX giving a challenges successfully few prospects the

consume headwinds balance productive opportunity. changes without of in diversified our innovation sheet, and maintain we the to our in prevented and of losing remain areas live, and great aspects the were continues has XXXX on manage to certain also positive challenges a flows. Thanks scale. strong our seen way of cash objectives work, many businesses. with were Despite workforce money, around past sustained sight portfolio and focused in customers people serving broader healthy business strategic we execution a created that partners our far able along to Because While reaching our we've -- of able our and or their has on it

Our fourth in quarters’ through results seasonally at quarter. reflect EBITDA with during sustained revenue recovery consumer and growth strength and in typically home combined segments both slower adjusted in increasing what is momentum our a insurance sequential

as look questions. as We a world and customers all to objective all strategic across are of and we'd begins integrated head every that, to the hope, our while forward into that As to and our automated love continued serving partners return segments each to range greater XXXX of on the focused we we one we objectives normal our accomplish to business of a serve and take those fashion. unfolds. growing, and the And in engaging our your highlighting delighting year more with momentum initiatives broad

Operator

with from Securities. Truist Instructions] Squali [Operator line Youssef question go The is first of Please the ahead.

Youssef Squali

much good and folks. very Great. morning Thank you

at Doug at and So stepping -- just One look competitive the the back maybe questions. a couple of looking front.

then Can guys flesh margin putting for what et home into you for I up few this XXXX. competition I J.D., scale at know Karma players. out have loan you in larger it biggest of guiding posted the advantages you're curious how industry us your now it's auto see you about insurance how the ramps for know And competition that from if guys in guys Just about you and you think have lower maybe maybe Credit look and a you think competitors years. cetera yourself particularly as to Because guide in areas like planning not it just year? QX to are than investment much like obviously looks they're

So maybe guys. just if you us flesh that terrific. for out be can Thanks that'll

Doug Lebda

Perfect.

I for very we So that focused they about you the obviously more is don't on I Credit to concentrated. our always grow. competition Karma, think diversified safe take and We tailwinds. to see they're markets safe more winning we very, to say want now we and say think we one are numbers even talk now they're just to the are news it's the obviously mindful that it's on, everybody if and good credit about want and think be at least we're Couple size

our And so solid we feel there. really in position

a our there's We brand strong. that Now area doing on product. exceedingly free is. name it'll just and things a is beyond -- We product? credit how ours of which will they And we've budgeting, better. have great in done great have ours think a from products that even go and seen lot going in into as scores alerts expand us We and is think We you're you've already. will management loans hope cash

pacing on really them So the our in happy versus first to see public honestly numbers. I the was

EverQuote and that shareholder. that's a they're I and doing and in what and where say that quarters, to The things expand they're think as us. with bigger insurance the you they're subject going the past LendingTree now just We're business and which expanding I really me than a a tie agency new another obviously, their company lines would I public of But them. would be -- we tell know I our biggest coming companies got, few with My other together. can bigger that thrilled little we've am little a one they're than integration our moved all

to more it's with going be you to diversified partnerships we've loans, take hard the etcetra just in unless want to investing gotten across it's so all compete the set insurance and is fintech I company next? think you're product et beginning. cetera, So that a really diversified J.D. a

J.D. Moriarty

you. Thank Yeah. Sure.

So they're both question. good

So let bit specifically ever public of little to because competitive middle and you when insurance they've landscape since talk quote just the relative a been XXXX. me on about obviously expand auto the

have VM businesses scale a revenue on We bigger. that trade points basis margins Doug do had that’s better as generally. and quarters We enjoy out. We and

with little a through of marketing the it dependent do a also to our admittedly we're better really SCM have and acquisitions on more We as strategy of make that has a acquire diversification diversifying been business and all good channels. bit

we're insurance only the exactly We're Medicare business. business that's what our which going not business agent that's We're doing. our And And so within business. our QuoteWizard diversification on. our expanding is expanding actually

goes make diversification. XXXX to diversification insurance going even continue And and on, for so very you're within see good that will better just business I a the take think us to and we're as going

about what new to So instance of when there auto competitors that Carmo insurance areas they've ask certainly the some you tie margin. next that's to answer initiatives. information. as public absolutely into just as the interestingly information to about talked some of us see relates us. investments the invest new it We one out question them. until points of going will now one where comparable not doing see you're Doug for those That's they're It's We have public out in being and we

in think to When leader and not specifically to we're and tremendously real space. is look look think a in doing. we we're strategy leader the insurance, different. whatever that space So, insurance couple other we is know we we that real players about in quote auto We a the space,

with happy XXXX. diversification Medicare see specifically really that's great the in I growth we're you're but going what So, EDC and throughout areas. we see insurance some and efforts to mentioned specifically,

year, specifically to going that And them of moment. do businesses a our in let margin that one the in QX things we strategy effort to but investments informed independently run with go diversified investments, since recognize on is is you operate will relates not the throughout make all just really it question portfolio I we to think what's As the about mix. that an regard guide on is of by asked that the

So, that revenue VMD rebuilding great to us probably as we businesses. right to we at as come you've as our opportunity times again, same happening at now, are but percentages certain growth. going drive from That's great consumer enjoy is in seen VMM mortgage growth, time VMD lower of there's a the

rebuild So, we But rebuild all we but first quarter highlighted the in it. pretty fourth line contribute call, in we the exceptional point I not may that percentage the as continue growth on growth in business. of as to card the credit bottom card that business at quarter that the some last expect we made to and

growth business revenue the got And mortgage the margin so, at that we're because margin, that at percentage card modest you've at you're incremental business a a rebuilding strategy right where lower business for the very getting that's time. recognize

really our So, business it's but desire mix, it's right do grow. strategically thing to to the let also these

you at the us. but are at million XXXX we $XXX was trough back business small so, for it at need was And and as the that look remind everybody contributions card can guide. you happy and understand really business when the that as I very with trend to QX. in growing down in be And XX% combine mortgage that progress margins QX and in we that initially with out But the you we're that in modest can pencil it

the with QX. on are of really of make But going plan throughout the There the We're all LendingTree my for investments that's to terms guide strategic included. of really what's number So the going businesses influence. that's about the happy QX really we're year. in in margin the

Operator

from Please Your is Jed go next with of question ahead. Oppenheimer. the Kelly line

Jed Kelly

think my Day nineteen for that's expanding may. LendingTree, margin. terminal the twenty to your sort of if just Thanks My I Analyst on One key circling taking at I Great. admitted your question. you back in Two

of way strategy take you with where that then do we should LendingTree sort it's the JD year? of seen on some Is And of and there I the investing? we've driving my said to So how just engagement. trending any are the see consumer throughout the how to advantage in segment XQ. enthusiasm mean of home increased the with balance accelerate just expected you retail we see

Doug Lebda

it diversified XX% My take we standpoint LendingTree very I'll from feel LendingTree from And every as and other just So very, -- reason XX% the like we we very, a how strategic feel mortgage a type. good a product loan were also when and first good. is on standpoint

business add the is individual brought credit the business in not loan other those thing LendingTree, we've to loans to On same As happening. card My or types only the adds personal as it like overall.

seeing So users money stimulus members their lot they loans engagement we're paid of revenue LendingTree a shopping well, products don't necessarily cards have we so and but we we're while during now personal their which and that people largest down My see is do because in seeing there. of and loans. took so personal pandemic slot for couldn't a weren't the source for appropriately credit new fine Totally do balances we

in So number and repair broader. we we're that individual refinance looking at up apps people as can But theft, people's base identity folded which a could that into improve credit rates be interest help that powerful source Everything rise something a as from they even as obviously credit. move credit. more think that can they is we product of will the even if we

right very where going I'm J.D.? So now. with that's happy

J.D. Moriarty

As your yeah. -- part of

jump that has members two answer of yes LendingTree depend to with My sign-ups had. flatten. out the -- happy look personal with one loans product loans Doug back we question driving been our signups, when We're When part XXXX, backwards, new on right. My -- we're strategy progress LendingTree as a we from to and the is personal we've signups on XX.X% in most it our pretty happy certainly meaningful the right, has the jump meaningful -- with absolutely. Jed, quarter the XX.X% for fourth for to are and to is going goes So points however That's parts that

is and we've are partners you've personal our talk platform Now, heard and other syndicating how with -- in loans and on that of the driven environment actually between other where are partners mentioned right weak? each And and some and LendingTree, in we've effectively board $X.X our are about pipeline. many there us are each an about We've on that signups. other in still syndication block talking now managed happening and there we're partners one key new block working But that my the are partner million is what marketplaces. our

we the we've to strategy the product be the talked a that's excited that talking about to engagement for which starting there's got about been we're fruit, well about. year Plaid Then, So, the over of and much, is to really bear to the integration year we've is this new accounts will year. product a unquestionably features people But add about and excited ago it connect the there. really Plaid was better drive we're than and that got much to their and

So, was is we amid I real an bright spot in a tough think the environment loans. my personal look signups suggests for syndicating in at for good strategy it actually QX platform that growth that and LT the a It's one. of that

own mortgage, effort with obviously right. in Hard In a dearly what in, that's we leads tough our bit you different either the is make under terms very a now mortgage really make of us been that home refinance around mindful need mortgage been make XXXX environment excited a Right that's matches was what's organic with the real that for tons that in you product work our last cycle to because was Well, with RPOs. earlier question we've we're lenders on it proposition more good cycle We value valued that business certainly progressed, our of about it’s to not And about that year succeed our or people products to And this organic rates are the just which kind in Certainly been intended can our and is exclusive made better have volume. there conversion going talked really we've so for to for working challenging. when has going our all RPO a our mortgage and are that's that thing specifically. Those our volume, in more lenders. we're product we're as think within and really our better like. evolved when subtle than drive lenders choose your say environment see of can of we're of to sure sure lenders inning we where and an our products the increase a services we understand from seeing flushed one on think the going hood. the that's to cycle, lenders the and convert.

tend outperformance cycle for So hard cycle seeing to but the you're that our we’ve lenders, to as a bit we're there's lag about now. certainly talked call as it in and a progresses that refi past -- the right we our seeing

as that said we accelerating which evident it's was to in see. So QX QX and great here in is

Doug Lebda

their interest in And that all stuff I to refi to through changes would that low this. capacity been their said we talked add there is as lenders and people heard of And mortgage, boom volume discount to in the all rate because a we've need strong product the able us lender tend LendingTree going increase the J.D. is about indications past in don't that because that environment needs have volume and dramatically stick. rate will LendingTree underperform

to now is got and any And you've brand they're and their build to mortgage trying place know biggest mortgage other us. startups calling got volume you the first customers problem to also inside springing to to thing even are up to trust We've get new a is are talked who In get that, you. new since brand, addition we've already got them. you've companies of who

maximize the we tomorrow do tomorrow now a six only marketing the -- or not My ball day, the ability now we months, got that. lean a know against month, we've payoff in to but now it percentages LTVs, a can marketing today as terms with and we LendingTree whether we is can be the of into quarter dollars. can marketing lower payoff but we the at So And be

Operator

with of question Please Blair. from the go ahead. Sheldon next is Your line Stephen William

Stephen Sheldon

last to LendingTree. that's growth. Want the in there follow-up pullback Monetization quarters on from sequential has My Clearly personal the been member great for almost and lower entirely three loans.

upon monetization highly Could there we integration be loans? about As points touch upon think the XXXX, member over dependent personal less next potentially much into Or there prior years? is couple monetization of added becoming recovering? better this the stronger with hitting personal is loans some dependent point to you year that of XXXX

Doug Lebda

loans. absolutely answer want the new features, but some and of be on So, working going we personal feature experiences consumer longer of alerts that to say to a We're short mortgage give is term don't people. -- inside not dependent like I on even purchased inside mortgage, inside more to can

happens lot loans to got their on a it going not done was on loans. would own, are the by thing, said do. So, companies. on a as personal we're is we're it so own. be can Seven I easiest tell consolidate, consolidate right been was you've of pay credit this, Personal lot consumer, the easy personal to going an you be about us people and to of a this financing, we And we're now you're a Anytime less interest, right, say there. bunch have right ever That's you sort loans percent answer that providing that definitely can can a right. talking ago, of that card did going finance of during that none to get a to you're here, their we provide years COVID, because market done, to debt that consumers over thing of something was dependent and subprime sort for paying did it

it. on and financial application and else going when so, and we've there there lending. across the to tell loans definitely in Clearly the lending very, engagement after J.D.? is conversion save the after everybody because just you to everything and dependent with every States at seen and America LendingTree not had is the in we're cycle the but very we're we're someday my to it account get money point in personal United I'm -- across it'll the touch And now with to revenue war. happy good institution wish I my a the

J.D. Moriarty

Yeah.

give Steven, question Let me your a is me you to no. good -- -- example. answer you let the said Like

and in want obviously As you look things one loans focused of later within our really the to out But a one significantly. we sure XXXX XXXX, loyalty that of the But drive that the fairly we're on we and sign consumer to XXXX, have good across we're on can making on XXXX, thing. dependence have That's businesses reduce new our personal experience up. each focused should actually products. really

So there some things build foundational to are you have first.

question well that that integration agency letter in get insurance the in insurance driving -- this dealer one in what big talked work saying that's to So okay is who's the that. we the app, agency great in when is platform we letter we make we that have why often we within ups our just insurance have sign technology auto LT. Well, it's shareholder are the and My the market with not our you're key but to app is somebody about that initiative doing

Okay.

built the have to and really we this But important. that the to ability opportunities supports guess LT My and being what agency supports the rate able it app. show any also is rate other technology So cross-sell dealership within for show a

our business will out with which not insurance as It is LT. that agency the supports My So the integration build it opportunity. it cross-sell we supports insurance help wonderful but only within diversify

about that year I and card should bit itself and that you're manifest you’re point integrated My loans a should talking really that we're here obviously XXXX, and that LTE And of LT. talking LT, when of about later on our XXXX my is really awesome a natural business terms with probably now But sitting which profile. in you out, terms see results. quite be better the That from is and dependent happy results, think will with help other so in timeline actually as My margin insurance personal lower actually far does you

Doug Lebda

the But that of -- that other for with at there with partners that across is that works only a aspects on products co-branded it types Tree. work it if also at little bit, with hit of lending, BXB working will auto not we're are example have everything is J.D. migrate this definitely that insurance dealers ecosystem. will we some we -- Lending it works and is quality three And the example more when look unit can fully work things of for on much for integrated few and it's dealer we with out and auto dealer app auto will economics insurance, a and build having XXX auto coming and a those dealers can me as impact else it while now we great bondable future the our behind at the and the that, get other quotes

Operator

of next ahead. is the from line Please with question Your John Stephens. Campbell go

John Campbell

to I some I'm playing factor is directly pace a so how out, picture around J.D Hey, that piece of in but know just consumer. about stimulus be thoughts or this impossible Doug kind bigger much the curious probably and recovery in might of

Doug Lebda

before. think I I to alluded So it

think to consumers right. might have That's I in consumers before our their get year we've or get definitely to it's lenders lend were ready much major higher that got We've and Okay. in everybody really from as help, that And a trying finances as their to necessarily the help wanting borrow. they needing company mission not our have is as aren't that's EBITDA a to that got impact. help

with from can them a now net That's their the they that are good start how a businesses, people to free money fine with valuable us hurts It's giving they that's small much few can future. in borrowing I'm can fine. card more products the homeowners become for they engage better put in where months. paying position our company If a certainly So down government's credit debt it. it a business them because than

J.D. Moriarty

right. need I yeah people if is it get it's just stimulus we say I get But helps around would guess uncertainty wonderful. the through -- John what our the for partners Yeah. really it to past

let's business. about talk each So

you're aggressive impact looking balances creditworthy That issuance influences card but If trying how trying they, the the to and your assess consumer you're how on new you're credit to to right. you're credit in credit are issuer growing going be and card card, at card right.

credit definitely number And card so our issuers. seeing of we're a

have two underwriting to now We I think back standards. pre-COVID

Okay.

So pulled same offers, a XX see to we're underwriting That's a to quite seeing finally get balance and XX the standard. inducement back credit of with couple in product they back great. better better right, now so so starting months, card obviously instead transfer them a But the bit. We're consumer. of more for month

we're a behavior -- little So we on about part the going of in as that businesses of impacted to impacted rates of see right. a had lot bit to small people very impact, personal more great happy they're see credit a the what don't for the as great Interestingly obviously with. confidence. PPP, PPP fourth conversion to In aggressive if by seeing business. inquiring they're quarter not card which and personal definitely that much desire card And we small going a credit point issuer uncertainty stimulus is have we definitely sign has which were the certainly but loans, it's business not is see a balances loan. have the out loans the We of

know what the they small don't to are available to through they non-PPP get the going what’s loan government to business because be what impacts owner follow going with them. proceed of they're -- to from a So a

different. on lender is a bit pre-COVID uncertainty. was are loans really little So of ground the the network bit these who on. of little Personal back I think each Every common is a on

just for quarter. the stimulus. loans personal I that. thrilled right We disclosed as there's think unique now last we that with product given But that because much be that will were really consumer desire not

out get through long-term. this for having our consumers if going certainly Doug an helping impact. So But great pointed it's that's us as be to it's

John Campbell

a Okay, correctly that's of obviously here particularly you spend kind were some great up if color. if brand versus so a and you spend this much I on spend guys But last of you fully committed recall of curious portion year have committed I kind of is Quick just and flex. variable? earmarked had those think to follow the truly how year of that guys for level able then

Doug Lebda

to businesses we But on year how into similar based it kind we've went this so trend. of taken that can we Yeah last. would higher be so flex certain it assuming steps

might bit It later first you reflective as certainly in year that the year so the you quarter that. fourth us relative -- it But the up of in to step little on a our quarter the stepped quarter see And [indiscernible] might in stepping business. up. progresses a here see

John Campbell

Okay. Thanks again. Got it.

Doug Lebda

seeing new and to beyond somebody thinking profits our were is about this only deliver investments, the we're or And do yes, numbers thing that best spending finance tell J.D. our our Moriarty but are what from going going it's the going always always money, return. it. it and future you going says we're add team invest to would to we're And to let's this -- above and because about We're have to to go to do just I to truly spend we've that opportunities for we much deliver a money to not we shareholders. if going got are on

Operator

line from the JPMorgan. Wedel is of go Your ahead. Please question with next Melissa

Melissa Wedel

on current I sort I'm Thank to offsetting sort Westlake In I'm that how and comments on some areas from the whole. we pretty understanding in strengths reconcile you’ve to issuers better about that I as margin while of a guess you. back. was were to focus that partnership wondering in of of was around And then differs what think come of XQ a I'm you. think about customers if strong card J.D.? category what of consumer that lower wanted I the that with how in second that segment? the to auto question reconcile -- should and as that Thank made having trying be part it's sort in actually with business so margin particularly trying would

Doug Lebda

J.D. you to take that? want

J.D. Moriarty

Yeah, absolutely.

consumer the our category of is highest loan margin because business. -- businesses overall includes margin So, our big personal our does our high business carry it also

right, strong third, the and normally the is quarter, So in typically to okay. card and that then quarter fourth in the because it's up fourth credit the first weak business in relative people balances run quarter

did seasonality actually was third. that fourth and modestly So bigger personal was not than the it quarter in in the play loan out obviously card grew. And

model Now and goes the daily our obviously this since doing cost we've the of about things each been in card at nice light of we revenue does basis as opportunity when business our look a of the structure. our COVID; on so down one businesses is

saw quarter the each and in instance money, had business third our the that that is cost issuers we've volume expanded. it where where XXXX when card of you to business in second card mortgage for businesses lost and exceeded only to revenue deliver our the the days opportunity. that the in right, Well, watched actually And so margin our business

payouts And a in so to business tougher manage. card that was as compressed

goals the That's enthusiasm is more We've first about the their those new to profile or there get certain to And and that cards cost a to that cost quarter when the We're a from environment one And are fifth or grow day high. we XXXX, in sign. the who I'd it to and is respect of ahead little me lose Now move for And levels card little it cards daily would I a issuers where cost and back we've two month in but as payouts throughout underwriting are And been pre-COVID learn with say What on day the those their pardon meaning should grow. up money. payouts basis, when a might issuers the should issuers a trying driving that meet throughout couple And have got a business. And when exceed card it had little month flip, underwriting. now with day has follow wasn't environment. fourth a who to where month of seem it XXXX RPOs money that lose they're opportunity want losing we bit say we that what revenue kind want might would say seem more will we for of criteria to I'd a bit. great. it should money goals. get say competitors I that's it’s I up. would If to have probably the every they're mentioned a volume to back, to to bit recognize that are. couple are

to We business might volume right share a grow to build as it be for try that recognizing the are card back business proceed months of issuers to it as take in proposition we meeting right. targets that now and more deciding strategically their breakeven market the

there. That's could any great. okay, we us we're And which January can But going much good for okay February. the a at be network breakeven we business strategy. gets start to we need consumer them is saying profitable to spend more January So we'll a typically, with little when issuer profile, on growth Maybe did it? to card QX get, in business. in bit to and a personal revenue Can your specifically the how of grow one margin we to that in pretty margin in robust, do is enjoy what the drag level relative continues what

of the thing out. a point would other business, So, now I it’s really mix

go ahead, sorry, Doug. Sorry,

Doug Lebda

but is Yeah. called in business No, to with I those businesses quarter, at the going mean fourth that's modest small very strong that if card for business loan, look was contributions. we're you preparing grow personal

go ahead. Sorry,

J.D. Moriarty

sort better. conundrum you LendingTree goes can mortgage can still in their transactions with have lot for would We markets. Yeah. of The comments in in of later a “free” the being it of very get good to have then already like sheets only add My even why balance the and paid or merges consumer, card back other consumer to happening in thing I

we're more not of you're is us little of grade. is term be grow for lenders around those why that's paying and like money. credit all you're us and LendingTree come But and be loans can higher. consumer is lose those coming front market the are sign a bit money that's the we economics the still margins the what's card enabling My traffic enough other loan would to that say LendingTree able and business that comes types go going that But to and plan. improve is through that in not value with we personal let's a as a certainly and direct and which strategy, door get the these -- LendingTree make lot We're ups you saying us we work that that's add lifetime seeing if customers going -- losing you've dollar But dollars, but in engaging a which got still to also personal those. thing My loan longer seeing and have from a fed meantime, So, get to that yet

Operator

Please question is Autonomous ahead. of Your go Wildhack Research. from next line Rob with the

Rob Wildhack

wondering follow guys. and My I’m more so increase? they around MY our morning, wanted usage interacting if LT if additional that fast and there, interactions the users up how LT Good engagement and can share you with more on platform any I to color

Doug Lebda

J.D., numbers hit do you to and like want overall. give then I'll

J.D. Moriarty

connected biggest integration is to planned thing really Rob accounts. Sure. people this become getting The

got this So connect accounts are to engagement to get their connecting almost call the seeing to year and real their somebody of who accounts we've drive to up We're their thing what's with those that XX%. the that plaid. is action

that's we're XX%. then account up seeing And that's a per great. user revenue that of result active connected So as

us So think monthly strategically but really connect that's to engage important to people the really strategically driver got accounts to them we users to we that's accounts we've their the want active drive the year. get throughout to

like really out not have we're but new with we're to working that of a and that. metrics strategy going -- don't certainly happy we're So we is that public set see

Doug Lebda

opportunities reason alerts. the is we that if for get you accounts, connect you to give have we And then can more to your

get more you your we know to have connect you give opportunities the accounts, can We we to alerts. more So

the about save more consumers but you the get -- have So we we have we step. how to you next can of we tell and to that know money, more to take sort

get we want. about get get loan, we and drive We a and insurance So business in beautiful and model say come you as this. can get also credit say all to And can it mortgage, can say our card get shop together. for identity we a personal get comparison come can say a come and you the free a credit theft score thing if

you many sure to whether and we've that you want not. you whether or opportunities. engage we've that other can we is engage want different account make an with transaction for we complete that marketable But with that So got grip. to so starting you got first ultimately We transactions to you over

Rob Wildhack

of balance about Got really the consumer also has offering investment but the up, assets past a the today businesses. of sheet, lot it. a existing the the current just and on product helpful. That's in you’ve follow talked set expanding side highlighted in It's

just So priority asset as side a the where opportunity does thoughts have on sheet might that [Technical of consumer you any rank Difficulty] updated balance the there.

Doug Lebda

our is deposit doing obviously right are deposits So not deposits, right low now. because rates on business great,

it sense So hey versus make here there. doesn't to say deposit

the I However, J.D. that there longer you do think to are want add good. term on? trends very

J.D. Moriarty

an complicated. and investments. right is, manifested evolve mean if we great. to little the of it's talked that them. will customers, themselves the think thus obviously opportunity they Rob which us think investment will we ownership for in in point. some at haven't you've this I things offer with yet base with But partnerships -- far, for be about got with Yeah. around through time partnership continue to there opportunities we partner asset we now more deposits. a to MyLT We've about modest MyLT a products be how but One bit you side the that's happy business We're over the started That's two will Stash stake

We this, also talked business about we've around a and investments. have,

of it. investments in And who actually around are have engaging we investments, that a us so, with content revenue we in had the vertical. quarter fourth in we've been partners we're early of stages But developing and the amount small

RIA customer as for think So, about services -- the channel. providing that acquisition that

Okay.

experience a So, we're it, that's -- which save to way partner specific it's that's we'll of registered that time it's our not extension kind for that, growing product think investment days, for invest, for new Tree we over with of Lending a something very is that's do. business there's to important natural but early think but of think we it’s we but a and product opportunity the a them time marketplace first business, natural the as a But and a Stash and of it's advisor a kind will we the about person that. think And be at is what well. talked we the about community then it extension and

Doug Lebda

us add integration saying monetize their both going and us our just Stash users helping to going the their or well asset. also we're car is doing… investment of helping on a the would insurance by to quickly is product The and The very obviously that help on And users it's very cash engaged. get product while auto's could flow which I an overall buy you helping analysis

Rob Wildhack

Yes.

Doug Lebda

using robo JD is We strong that segment Very then should certain into out savings and the business. adviser. of be think RIA customers point a they for a

lot those for showing of different very, very there's it's new of retirement. good set very early a at somebody with signs a get stages a advisors that For very good to help who be brand They accounts us working channel through from earnings them they life. for middle, the can and And is of end. high customers, a another registered people want investment

Rob Wildhack

you, Good. guys. Great. Thank

Operator

line go the from of Friedman is Please ahead. with question next Your Susquehanna. Jamie

Jamie Friedman

guys. Good Hi. morning,

So you terms that the into to on date. of second you strength year, is the may page mentioned you earlier to the that saw persisting find hoping shareholder the new you you it letter I is what seen in trend was have trying could -- in the shareholder quarter [indiscernible] strike elaborate that that just the of saw that

Doug Lebda

that? the I sorry you home, in It’s you're were. it's believe the mortgage believe Yeah is referring second I paragraph. to segment,

as says performance in was driven the our home Yeah. previously by the much strength So specific fourth discussed segment. quarter it home. to I'm

J.D. Moriarty

Yeah.

And So we talked volume we lenders, lead out would beginning specific we've to was as with that the among more up as XXXX the our progressed to our played it's So about expand our and that revenue the capacity prior RPO effectively able and expanded and as was of as do lead, XX%. We year say it organic see? over mortgage up capacity we knew we rates the increase listen that year. home. we increase in when capacity It's desire services per for there we -- right? per volume in see We be And progressed as knew our it's be what okay? revenue So XX% then we would expected would year. we right? drive year

first So how and quarter the performance. happy growth are XX%. we year-over-year continued getting That's of right? business That the the in in we’re that really has with

And mortgage cycle. so that's the

the it product and to and be last this the with the evolved to and of work partner. cycle into think our year make partners more critical a trying it for I we over we're most well-prepared we came

cycle. hard to obviously up services bit as But recently. said We've that say continue seen short our to for be valuable. lenders make little in make harder that are what before higher. our I we in the will tick where more if it does So run much rates it a That is they obviously

Jamie Friedman

you are right driven lot what's on rewards now? on a characterize up with are questions one going I generally balance what more follow transfer on just card, could or How environment. I the a we but If know are Okay. environment card, in folks of we would

Doug Lebda

Yeah.

right. you card of what the come the a is moment, transfer more that, issuers see Having think balance I credit card said not fore at are balances to focus. will as themselves high

to So but when make can on their product lot of expand grow money that -- they they a portfolios.

have programs of been bit, travel of the right. because absence a probably challenged reward the Now

reward on is Having say people get helping right of to would focused that and focused expect again normalized travel we're that criteria on It's Jamie, issuers the much I underwriting now sort grow cards. of all be more and card So to product. let's centric. said will back on hard that, principally them that travel that when hope

beginning of the what we want balance be it probably to the at I grow the see to from That's beat to cards. mentioned zero see to that anecdotal moves something need we I think balance the desire XX transfer or before months that card we're partly will a And outset. to interest. grow. as months That's of starting anecdotal transfer So XX with

Operator

Madhukar line the of question your final is Kunal ahead. from go with And Deutsche Please Bank.

Kunal Madhukar

Hi. squeezing for me in. Thanks

financial the in longer marketing online the bigger spend Want to of of for One landscape where for been the longest you term, services time. spending firms. comparative understand from have them picture. Most stand

almost been over You've around -- years. the for XX XX past

as not is preparedness. there lack if So, of it's

like you is, financial do from a bigger And it, firms. personal the LendingTree the of experience I go refi LendingTree. But basically about ads all them I the and it refi more advertising refinancing. time are from of I through how of whenever services and So, lot share refi I get just and see then a online most second, this spend is just something I it

the longer So, getting know no I'm still that ads? market you refi. am in for should I Why those

Doug Lebda

me and short let out So, the marketplace. works experiencing here's the why cut advertising run, there the you're and in sort of

separately. online will bit -- and take So, our ads little offline a let's

the then some they're you're that that demanding there work. felt now, little go it way generalize see to in because would to it but see to also go that. our a Well refi to then know all might when already targeted could there. hard bigger And addition right. not they on more you demand, of be example more And ads so do them not of Internet getting the long hey refinance customer and there would is refinance your that and are need should customer So, they're next asset as not in we so the through our the who's for and seeing a highly ads you the hopefully be tell ads that don't you more and necessarily you’re prior either seeing that's we to those because we show and and we be and general them creepy to there of then sort because a though refi you alerts ads, all customer targeted will less LendingTree you interested customer generalized some and -- I more and always talked because ability targeted of tail you're those necessary -- saying you because of us what payoff right online focused be they’d hopefully. lenders those lenders, space you now you to gets

ads So they the definitely across work. current see Internet customers and will

Does that's So sense? that works. that make how

J.D. Moriarty

I'll take the word for it.

So it's Kunal, right, Kunal, J.D.

your Let well. expand I part there is the there's as to only question me just would on -- another thing

were experience channels display that become So making think We're wish address that display right. seen over We what more well of on personal we is in constantly maybe certainly success channels mile became I'll more you're and seeing trying year sure to the that more we've that. I -- and is great the reflecting when every personalized. our focused develop just were you to ads all principally last ads,

to have should over you're there display. So then showing be a in we necessarily we're what going of and function most when an reading right. Display see ad control going often it you you is more to

the grow that's And channel. in seeing out. is to seen display points So just on that every our as us that's more great Doug We the we've it you means see when -- presence try display, it's success channel you're there. working year have goes and what as

of as see reading personalized most what not be it, it’s function a to right. when again often you’re you Now going display

display, our us to seeing -- working the in -- when see aims So every seen goes -- grow we just the try channel you year as more success is as Doug We that’s it’s presence channel there. and that’s out. is we’ve it display it you’re on our great have points and what

as Now, as like. personalized we'd again not

of one longer-term have We them. that's goals

how great our partners. certain you comprehensive, that right. partners where we one certain partners spend question themselves have bank is more other And more be be bigger to they're we diversification. structuring structuring more opportunities where of over asked and themselves committed given should from time are And holistic do The get they our big

personal acquisition deposits far who combined they them But product talk mortgage, people to with have customer with to between. they few tend more tend by drive partners to loans. want to are and our they're they siloed. for there be but So trying tend combined about We're responsible

you have change to get on partner the to change So to drive we -- to just side and organizational spend. it's we to get more there. have But committed try try

what years more -- you actually in a to five investors XX credit the you some much in at than heard name ago. or But if within tend one of. base also than exceed our company base average have you're card XX public. customer newly of partners rockets have years it ago another, top seen or that is base top the would find never a are biggest an is product Five years who customer and the And depots five today ago insurance world nonbank financial carrier And a We mortgage that you’d it's partners. originators was what pretty the obviously opportunity right. everybody's institution look the loan big our versus today brand institution those exists financial issuer healthier whether much

relationships holistic and we've with more customers should more the them. seen So, be our over that the leg next become XX of to bigger, certainly to top ability organizations stable drive time

Doug Lebda

brands both is just on of add would they costs because cetera. more doing customers, And helps brand I card is big rates et thing advertising credit it that TV. online companies those on they're we're that and whether Lending only going companies the inside among advertising both too. -- like those seeing And see rip our when banks, they're we're us that, also conversion companies that, of to want It it'll Google. mortgage their you're build offline if they to their when we see marketing helps do Tree

things about to need own talked their got it from improvements from them. in mortgage side products because money, we and have deliver some way going the reliant talked more and in their advertising. the J.D. in or of past. negative going of say companies just we're we've We've to Lending lot be business we're to a do if going able be So, they're call Tree to What hear also going the to search of out like lenders have right for on to to and engine I’d we're partnered you're that where now capacity companies -- are a that we about,

And seeing got to they've marketing more we're demand in so, us. that from marketing you're because that

Operator

time. to for showing at I And remarks. conference the Lebda closing this would I'm questions back further no to like Doug turn

Operator

this And Lebda conference showing to time. at Doug would further I'm I for like the back turn closing questions no to remarks.

Doug Lebda

am had questions are these of through closing all So thrilled thoughts, couple COVID. coming just team as and come your how we've call. with our from just this I a reflections has

with year We've we've past we've come understanding very have had and very, much working come leaner. right a and and of company that's people come had at ups a this better During out ways we company. to do a and improvement on out the downs had more hard cycle. things We've we've continuous that out we're

I would businesses core solid thing Second say are you. with the

can every loan You individual run type.

can You add my on solid. everything is LendingTree

industry of day do up invest with some you the with going marketplaces end times up in two. any and also and and to the in worse XX better economics or because see times will will hopefully end supply deliver Some is us that of continue at to nearly in Expect end on. and the do don't demand you what's one

and to think somewhat me as year larger that. every as to the have worth shareholder and much and we this to that And particularly our single my planning then Media talking process place and has went the has and way. basically throughout the CEO who largest that in now please sees say the in Next thing scale not through net intend importantly LendingTree and that that a you know which the I Liberty and would a here impactful the shareholder we've to is is really a now at employee entire And you I'm you a to would a passion succeed at than mission last capabilities I we it's last processes more talking throughout same to to but company. processes boring the laid say all are brand always always we that got is where the the I that is also this do place I'm company we this team

partners not we up got and by value build shareholders are. enduring X,XXX our to only every the increase helping money enterprise, with of happy really to by am it you've them. fired the So and do them are way helping right And around but I businesses waking consumers our up day who where big save trying

you look all time. to forward soon. much thank to your very company So we to for you Thank your you talking for and attention our

Operator

for conference concludes day. this participation wonderful Thank gentlemen, have a you call. and your Ladies today's and

disconnect. all may You

We use cookies on this site to provide a more responsive and personalized service. Continuing to browse, clicking I Agree, or closing this banner indicates agreement. See our Cookie Policy for more information.