This morning, Lending Club held their Q4 2015 earnings call. Lending Club has been a public company over a year now and this marks their fifth earnings call where we have heard details about their recent performance. This latest quarter may have been their most impressive yet.
Let’s start with the high level financials:
- Q4 total originations were $2.58 billion, up 82% from the same quarter of 2014 bringing their total originations near $16 billion. Lending Club originated $8.4 billion of loans in 2015.
- Revenue was $134.5 million, up from $115.1 from the previous quarter.
- Earnings per share of $0.01 compared to ($0.07) for the same period last year. Adjusted EPS was $0.05 for Q4 2015, compared to $0.01 in the same period last year.
- Adjusted EBITDA was $24.6 million up from $21.2 million in Q3 2015. This resulted of adjusted EBITDA margin of 18.3%
- Sales and marketing expenses as a percent of originations increased to 2.01% in Q4 2015 from 1.87% in Q3 2015.
Lending Club adjusted their 2016 outlook higher. [Read more…]