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SEC filingLendingTree delivered a strong Q1 turnaround to profitability with 36.5% revenue growth and positive operating income, driven by Home segment gains that offset mortgage declines amid heightened direct lender competition.
LendingTree's Q1 2026 results marked a decisive shift to profitability, with revenue climbing 36.5% to $327.3 million from $239.7 million a year ago. This acceleration stemmed from gains in the Home segment, where revenue rose primarily from increased home equity loans, partially offsetting softer mortgage product performance amid competitive pressures. Gross profit followed suit, expanding 37.3% to $315.6 million and achieving a 96.4% margin—reflecting the company's asset-light model where cost of revenue grew modestly due to higher compensation and benefits.
Operating income flipped to $31.1 million positive from a $7.1 million loss, delivering a 9.5% operating margin. This improvement highlights better expense discipline relative to top-line growth, enabling the company to convert revenue gains into meaningful bottom-line results. Net income reached $17.3 million, reversing a $12.4 million loss, with diluted EPS at $1.22 versus -$0.92. These outcomes underscore LendingTree's ability to leverage its marketplace platform for scalable profitability as volumes recover.