LendingTree, Inc. reported a significant increase in revenue for the first quarter of 2025, achieving $239.7 million, a 43% rise from $167.8 million in the same period of 2024. The growth was primarily driven by a 71% increase in the Insurance segment, which generated $146.7 million, up from $85.9 million. The Home segment also saw a 22% increase, reaching $37.0 million, while the Consumer segment grew by 9% to $56.0 million. Despite the revenue growth, the company reported a net loss of $12.4 million, compared to a net income of $1.0 million in the prior year, reflecting a substantial shift in profitability.
The company's total costs and expenses surged by 54% to $246.8 million, largely due to a 60% increase in selling and marketing expenses, which rose to $172.8 million. This increase was attributed to heightened advertising efforts to capture consumer demand across its segments. General and administrative expenses also increased by 19% to $30.7 million, driven by higher compensation costs, including non-cash compensation. The operating loss for the quarter was $7.1 million, a stark contrast to the operating income of $7.2 million reported in the first quarter of 2024.
In terms of operational metrics, LendingTree added 0.8 million new users to its Spring platform, bringing the total to 32.1 million as of March 31, 2025. Revenue attributed to registered Spring users was approximately $3.7 million, representing 2% of total revenue. The company continues to focus on enhancing its product offerings and user engagement, which it believes will drive future growth. The company also reported a decrease in accounts receivable, which fell to $85.2 million from $97.8 million, indicating improved cash flow management.
Looking ahead, LendingTree remains cautious about the economic environment, particularly the impact of inflation and interest rates on its business. The company noted that while mortgage rates have stabilized, they remain significantly higher than in previous years, affecting refinancing volumes. The company plans to continue adjusting its marketing expenditures in response to market conditions and consumer demand. Additionally, LendingTree is focused on optimizing its operational efficiencies and expanding its product offerings to enhance revenue streams in the future.
About LendingTree, Inc.
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