LendingTree, Inc. (TREE): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de los préstamos en línea, Lendingtree, Inc. (árbol) ha revolucionado cómo los consumidores navegan por las oportunidades financieras, transformando el proceso de búsqueda de préstamos tradicional en un mercado digital sin problemas. Al aprovechar la tecnología de vanguardia y una red expansiva de socios financieros, LendingTree ofrece una plataforma que cambia el juego que permite a los consumidores comparar, explorar y asegurar préstamos en múltiples categorías de productos con facilidad y transparencia sin precedentes. Este innovador modelo de negocio ha posicionado a la empresa como una fuerza disruptiva en el panorama de la tecnología financiera, conectando a los prestatarios con los prestamistas a través de un enfoque sofisticado y centrado en el usuario que simplifica el complejo mundo de las finanzas personales.

Lendingtree, Inc. (árbol) - Modelo de negocio: asociaciones clave

Instituciones financieras y bancos que proporcionan productos de préstamo

LendingTree se asocia con más de 400 instituciones financieras, que incluyen:

Tipo de socio	Número de socios
Bancos	175
Coeficientes de crédito	85
Prestamistas en línea	140

Compañías de tecnología y análisis de datos

Las asociaciones de tecnología clave incluyen:

• Experiencia
• Transunión
• Equifax
• Tecnologías a cuadros

Plataformas de marketing y publicidad en línea

Plataforma	Gasto de marketing anual
Ads de Google	$ 42.3 millones
Anuncios de Facebook	$ 18.7 millones

Agencias de informes de crédito

Socios de informes de crédito primario:

• Experian (cuota de mercado: 39%)
• Transunion (cuota de mercado: 33%)
• Equifax (cuota de mercado: 28%)

Proveedores de servicios de seguro y comparación

Categoría de seguro	Número de proveedores de socios
Seguro de automóvil	47
Seguro de hogar	35
Seguro de vida	22

LendingTree, Inc. (árbol) - Modelo de negocio: actividades clave

Operación del mercado de préstamos en línea

LendingTree opera una plataforma en línea que facilitó $ 46.3 mil millones en transacciones de préstamos en 2022. La compañía procesó aproximadamente 12.4 millones de solicitudes de préstamos durante ese año fiscal.

Métrico	Valor 2022
Transacciones totales de préstamos	$ 46.3 mil millones
Solicitudes de préstamo procesadas	12.4 millones

Comparación de préstamos digitales y servicios de correspondencia

La plataforma proporciona servicios de comparación en múltiples categorías de productos financieros.

• Préstamos hipotecarios
• Préstamos personales
• Préstamos para automóviles
• Tarjetas de crédito
• Préstamos de equidad en el hogar

Generación de clientes potenciales y referencias de clientes

LendingTree generó $ 1.2 mil millones en ingresos para 2022, con una porción significativa derivada de las tarifas de generación de leads y referencias.

Desarrollo y mantenimiento de la plataforma tecnológica

La compañía invirtió $ 78.4 millones en gastos de tecnología y desarrollo en 2022. La infraestructura tecnológica respalda a más de 500 socios préstamos.

Inversión tecnológica	Gasto 2022
Gasto en desarrollo tecnológico	$ 78.4 millones
Red de socios de préstamo	500+ socios

Investigación y análisis de productos financieros

LendingTree mantiene una base de datos integral que rastrea las tasas y tendencias de productos financieros en múltiples categorías de préstamos.

• Seguimiento de tasas de interés en tiempo real
• Análisis de mercado integral de préstamos
• Monitoreo de tendencias de crédito al consumidor

Lendingtree, Inc. (árbol) - Modelo de negocio: recursos clave

Plataforma de tecnología de comparación en línea avanzada

La plataforma de tecnología de LendingTree procesó 59.3 millones de solicitudes de préstamos en 2022. La plataforma admite la comparación entre múltiples categorías de productos financieros con capacidades de procesamiento de datos en tiempo real.

Métrica de tecnología	Valor 2022
Solicitudes de préstamos totales	59.3 millones
Tiempo de actividad de la plataforma	99.98%
Tiempo de respuesta promedio	0.3 segundos

Base de datos de productos financieros extensos

LendingTree mantiene una base de datos integral que cubre múltiples categorías de productos financieros.

• Préstamos hipotecarios
• Préstamos personales
• Préstamos para automóviles
• Tarjetas de crédito
• Préstamos para estudiantes
• Préstamos de equidad en el hogar

Gran red de socios de préstamos

A partir de 2022, la red de Lendingtree incluía más de 500 instituciones financieras y prestamistas.

Tipo de socio	Número de socios
Bancos	185
Coeficientes de crédito	120
Prestamistas en línea	195

Reconocimiento de marca fuerte

LendingTree generó $ 1.07 mil millones en ingresos para 2022, lo que demuestra una importante presencia del mercado.

Capacidades de análisis de datos y información del cliente

La Compañía procesa más de 35 millones de sesiones de visitantes únicas anualmente, generando extensos datos de comportamiento financiero del consumidor.

Métrica de análisis de datos	Valor 2022
Sesiones únicas de visitantes	35 millones
Perfiles financieros del consumidor	Más de 20 millones
Puntos de datos en tiempo real	500+ por usuario

LendingTree, Inc. (árbol) - Modelo de negocio: propuestas de valor

Comparación de préstamos gratuitos con múltiples productos financieros

LendingTree proporciona a los usuarios una comparación gratuita de productos financieros en múltiples categorías:

Categoría de productos	Número de proveedores	Opciones de comparación promedio
Préstamos hipotecarios	500+ prestamistas	12-15 ofertas de préstamos diferentes
Préstamos personales	300+ proveedores	8-10 opciones de préstamo diferentes
Préstamos para automóviles	Más de 250 instituciones financieras	6-8 ofertas comparativas
Tarjetas de crédito	Más de 100 emisores de tarjetas	10-12 comparaciones de tarjetas de crédito

Proceso de solicitud de préstamo simplificado

LendingTree optimiza las solicitudes de préstamos a través de:

• Formulario de solicitud en línea único
• COMPARACIÓN DE CRÉDITO EN TIEMPO REAL
• Precalificación instantánea
• Envío de documentos digitales

Acceso a diversas opciones de préstamos

El ecosistema de préstamos incluye:

Segmento de préstamos	Proveedores activos	Interacciones mensuales de usuario
Bancos tradicionales	65	Más de 125,000 interacciones
Coeficientes de crédito	45	Más de 85,000 interacciones
Prestamistas en línea	90	Más de 210,000 interacciones
Instituciones financieras especializadas	40	55,000+ interacciones

Información transparente del producto financiero

Los detalles completos del producto incluyen:

• Tasas de interés con actualizaciones en tiempo real
• Términos detallados del préstamo
• Estructuras de tarifas completas
• Criterios de elegibilidad integrales

Recomendaciones de préstamos personalizados

Métricas de personalización:

Factor de recomendación	Nivel de personalización	Precisión del partido
Puntaje de crédito	Alto	92% de precisión
Rango de ingresos	Medio	85% de precisión
Relación deuda / ingreso	Alto	88% de precisión
Estado laboral	Medio	80% de precisión

Lendingtree, Inc. (árbol) - Modelo de negocio: relaciones con los clientes

Plataforma digital de autoservicio

A partir del cuarto trimestre de 2023, la plataforma digital de LendingTree admite más de 500,000 usuarios activos mensuales. La plataforma procesa aproximadamente 35 millones de solicitudes de préstamos anualmente con una tasa de conversión del 12,4%.

Métrica de plataforma	Valor
Usuarios activos mensuales	500,000
Solicitudes de préstamos anuales	35 millones
Tasa de conversión de plataforma	12.4%

Algoritmos de recomendación automatizados

El algoritmo patentado de Lendingtree genera coincidencias de préstamos personalizadas con una tasa de precisión del 94.3%. El sistema procesa más de 2.5 millones de perfiles financieros únicos mensualmente.

Atención al cliente a través de múltiples canales digitales

• Soporte de chat en línea 24/7
• Tiempo de respuesta de soporte por correo electrónico: 2-4 horas
• Soporte telefónico disponible los 7 días de la semana
• Integración de servicio al cliente de la aplicación móvil

Experiencia de usuario personalizada

Las características de personalización del usuario dan como resultado una tasa de participación 27.6% más alta en comparación con las plataformas no personalizadas. Algoritmos de aprendizaje automático personalizar las recomendaciones de préstamos con 89.5% de relevancia.

Compromiso continuo a través del correo electrónico y notificaciones

Canal de compromiso	Interacciones mensuales
Notificaciones por correo electrónico	3.2 millones
Notificaciones de empuje	1.7 millones
Campañas de reorientación	450,000

Lendingtree, Inc. (árbol) - Modelo de negocio: canales

Sitio web de la empresa

El canal digital principal de Lendingtree es www.lendingtree.com, que procesó $ 196 mil millones en solicitudes de préstamos en 2022. El sitio web atrae a aproximadamente 12 millones de visitantes mensuales únicos, generando 3.1 millones de solicitudes de préstamos anualmente.

Métrico del sitio web	Datos 2022
Visitantes mensuales únicos	12 millones
Solicitudes de préstamos anuales	3.1 millones
Volumen de solicitud de préstamo total	$ 196 mil millones

Aplicación móvil

La aplicación móvil de LendingTree se ha descargado más de 10 millones de veces en las plataformas iOS y Android. La aplicación genera aproximadamente el 35% de las solicitudes totales de préstamos digitales.

• 10 millones+ descargas de aplicaciones
• 35% de las solicitudes de préstamos digitales a través de móvil
• Disponible en plataformas iOS y Android

Plataformas de publicidad digital

LendingTree asigna $ 85.4 millones anuales a la publicidad digital en las redes de anuncios de Google, Facebook y Programmatic. La estrategia de marketing digital de la compañía genera un costo de adquisición de clientes de $ 48 por plomo.

Métrica de publicidad digital	Cantidad
Gasto anual de anuncios digitales	$ 85.4 millones
Costo de adquisición de clientes	$ 48 por ventaja

Marketing por correo electrónico

LendingTree mantiene una base de datos de correo electrónico de 22 millones de suscriptores con una tasa de apertura promedio de 18.6% y una tasa de clics del 2.7%.

Métrica de marketing por correo electrónico	Actuación
Suscriptores totales de correo electrónico	22 millones
Tarifa de apertura de correo electrónico	18.6%
Tasa de clics	2.7%

Redes de marketing de afiliación

LendingTree opera a través de más de 500 socios de marketing afiliados, generando el 40% de las referencias totales de préstamos. La compañía paga una comisión promedio de $ 12- $ 18 por ventaja calificada.

• 500+ socios de marketing afiliados
• 40% de las referencias de préstamos de afiliados
• Rango de comisión principal: $ 12- $ 18

LendingTree, Inc. (árbol) - Modelo de negocio: segmentos de clientes

Consumidores que buscan préstamos personales

LendingTree se dirige a los solicitantes de préstamos personales con el siguiente desglose demográfico:

Grupo de edad	Porcentaje de usuarios
18-34 años	42%
35-54 años	38%
55+ años	20%

Solicitantes de hipotecas

Características del segmento de clientes hipotecarios:

• Puntuación de crédito promedio: 720
• Ingresos familiares promedio: $ 85,000
• Rango de edad primaria: 30-45 años

Solicitantes de préstamos para pequeñas empresas

Tamaño de negocio	Volumen de préstamo
0-10 empleados	67%
11-50 empleados	22%
51-100 empleados	11%

Usuarios de comparación de tarjetas de crédito

Segmento de tarjeta de crédito profile:

• Ingresos anuales promedio: $ 75,000
• Rango de puntaje de crédito: 650-800
• Grupo de edad primaria: 25-45 años

Buscadores de préstamos para automóviles

Tipo de vehículo	Porcentaje de préstamo
Autos nuevos	55%
Autos usados	45%

LendingTree, Inc. (árbol) - Modelo de negocio: Estructura de costos

Mantenimiento de la infraestructura tecnológica

Costos anuales de infraestructura tecnológica para LendingTree en 2023: $ 42.3 millones

Categoría de costos tecnológicos	Monto del gasto
Servicios en la nube	$ 18.7 millones
Mantenimiento del centro de datos	$ 12.5 millones
Sistemas de ciberseguridad	$ 11.1 millones

Gastos de marketing digital

Gasto total de marketing digital en 2023: $ 87.6 millones

• Marketing de motores de búsqueda: $ 35.2 millones
• Publicidad en las redes sociales: $ 22.4 millones
• Mostrar publicidad: $ 18.9 millones
• Marketing de afiliación: $ 11.1 millones

Salarios y beneficios de los empleados

Gastos totales de personal para 2023: $ 156.4 millones

Categoría de empleado	Compensación anual promedio
Profesionales de la tecnología	$145,000
Representantes de ventas	$92,500
Servicio al cliente	$65,300

Inversiones de investigación y desarrollo

Gastos de I + D en 2023: $ 63.2 millones

• Desarrollo de productos: $ 38.7 millones
• Algoritmos de aprendizaje automático: $ 15.5 millones
• Mejoras de la experiencia del usuario: $ 9 millones

Costos de adquisición de clientes

Gastos totales de adquisición de clientes en 2023: $ 124.8 millones

Canal de adquisición	Costo por cliente adquirido
Canales en línea	$48
Programas de referencia	$35
Medios tradicionales	$72

Lendingtree, Inc. (árbol) - Modelo de negocio: flujos de ingresos

Comisión de referencias de préstamos

LendingTree generó $ 718.1 millones en ingresos totales para el año fiscal 2022, con una porción significativa derivada de las comisiones de referencia de préstamos.

Tipo de préstamo	Tasa de comisión promedio	Ingresos anuales estimados
Préstamos hipotecarios	1.5% - 3%	$ 254.3 millones
Préstamos personales	2% - 4%	$ 167.5 millones
Préstamos para automóviles	1% - 2%	$ 96.2 millones

Tarifas de generación de leads

LendingTree cobra a las instituciones financieras por liderazgo de consumidores calificados en múltiples categorías de productos financieros.

• El costo promedio de plomo varía de $ 15 a $ 75 por plomo calificado
• Ingresos anuales estimados de generación de leads: $ 142.6 millones
• Tasa de conversión de plomo: aproximadamente 3-5%

Ingresos publicitarios

La publicidad digital y el contenido patrocinado generan flujos de ingresos adicionales para LendingTree.

Canal publicitario	Ingresos anuales
Mostrar publicidad	$ 37.4 millones
Contenido financiero patrocinado	$ 22.9 millones

Suscripciones de servicios premium

LendingTree ofrece servicios mejorados para consumidores y profesionales financieros.

• Suscripción de monitoreo de crédito: $ 14.99/mes
• Acceso profesional al asesor financiero: $ 49.99/mes
• Ingresos de suscripción anuales estimados: $ 28.3 millones

Licencias de datos e Insights Ventas

La inteligencia del mercado financiero y los datos de comportamiento del consumidor se monetizan a través de asociaciones estratégicas.

Producto de datos	Ingresos anuales
Insights de crédito al consumidor	$ 19.7 millones
Informes de tendencia del mercado	$ 12.5 millones

LendingTree, Inc. (TREE) - Canvas Business Model: Value Propositions

For Consumers: Comparison shopping for loans, credit cards, and insurance in one search.

LendingTree, Inc. connects consumers with a network of lenders and insurance providers. As of Q2 2025, 24.8 million Americans have a personal loan, demonstrating the scale of consumer activity in the lending space. The platform's reach includes a network of 30 million borrowers. The company's Q3 2025 consolidated revenue reached $307.8 million, with a full-year 2025 revenue guidance projected between $1.08 billion and $1.09 billion.

For Consumers: Free credit scores, monitoring, and personalized financial recommendations.

The platform directs users to sign up for a free MyLendingTree account to receive their credit score and personalized offers. The company's focus on empowering people through choice and transparency is a core element of its offering.

For Partners: Access to high-intent, qualified consumer leads at scale.

Partners gain access to high-intent leads through the platform's advertising efforts and seamless qualification forms. The scale is evidenced by the strong revenue growth across segments in Q3 2025. The Insurance segment revenue was $203.5 million, up 20% year-over-year, and the Consumer segment revenue was $66.2 million, up 11% year-over-year. Within the Consumer segment, small business loan revenue increased 50% over the prior year.

For Partners: Efficient, performance-based marketing channel for customer acquisition.

The model is performance-based, allowing partners to filter leads based on underwriting guidelines. For mortgage leads specifically, the cost ranges from $30-$100 per lead. The financial results reflect this efficiency, with the company reporting an Adjusted Net Income Per Share of $1.70 for Q3 2025, and a net leverage ratio of 2.6x at the end of the quarter.

LendingTree, Inc. Segment Performance Snapshot (Q3 2025)

Metric	Insurance Segment	Consumer Segment	Home Segment
Revenue (USD)	$203.5 million	$66.2 million	$38.1 million
Year-over-Year Revenue Growth	20%	11%	18%
Segment Profit (USD)	$47.6 million	Not Explicitly Stated	$11.8 million

The Consumer segment includes personal loans, where revenue was $31.3 million in Q3 2025, and a 12% increase year-over-year for that product line. The Home segment saw Home Equity revenue of $28.3 million, which was up 35% over the prior year.

• Q3 2025 Consolidated Revenue: $307.8 million.
• Q3 2025 Variable Marketing Margin: $93.2 million.
• Q3 2025 Adjusted EBITDA: $39.8 million.
• Net Leverage (End of Q3 2025): 2.6x.

LendingTree, Inc. (TREE) - Canvas Business Model: Customer Relationships

You're looking at how LendingTree, Inc. manages its connections with customers across its marketplace, and honestly, it's a tiered approach that balances automation with high-touch service. It's not one-size-fits-all; the relationship type depends on the product complexity and the customer's need.

Automated self-service via the online marketplace

The core relationship starts with the automated online marketplace. This is where the vast majority of initial customer interactions happen, facilitating comparisons for products like personal loans and mortgages. The sheer volume flowing through this automated system is significant, as evidenced by the Consumer segment's Q2 2025 revenue hitting $62.5 million, up 12% year-over-year. This digital self-service is supported by the company's focus on AI; effectively, all of LendingTree, Inc.'s employees are using AI in their day jobs, including having enterprise GPT for everyone, which helps streamline the backend of these automated matches. The investment in the network is paying off, too; an increase in media impression share in Q1 2025 drove a 27% increase in customer volume on the network.

Here is a look at the revenue performance driving the volume on the automated side of the business:

Metric	Segment/Product	Value (Q1 2025)	Year-over-Year Change
Revenue	Consumer Segment	$56.0 million	9% increase
Revenue	Personal Loans (within Consumer)	$23.4 million	16% growth
Loans Originated (YoY)	Personal Loans Customers	N/A	26% growth
Revenue	Home Segment	$37.0 million	22% increase

Personalized engagement through the Spring platform's proactive notifications

LendingTree, Inc. uses its Spring platform to drive repeat user engagement, which they believe results in lower acquisition costs and increased consumer lifetime value. While I don't have the specific 2025 metric for proactive notification open rates, the strategy aligns with industry findings where companies using AI report a 20% increase in customer satisfaction. The goal here is to keep users engaged post-initial search. For context on customer expectations, 50% of consumers expect financial providers to deliver personalized offers to help them reach their financial goals.

Dedicated, high-touch concierge sales for complex products like small business loans

For more complex products, like small business loans, the relationship shifts to a dedicated, high-touch model. LendingTree, Inc. made a strategic investment here, increasing the size of its concierge sales team by more than 50% over the last year, which directly improved service levels and conversion rates for these customers. This investment is showing results, with small business loan origination volume up 40% year-over-year as of the August 2025 report. The high-touch service is reserved for higher-intent clients; businesses typically need a minimum annual revenue of $100,000 or more to qualify for the dedicated concierge services. Last year, LendingTree, Inc. funded $510 million in business loans.

The concierge service provides a single, dedicated point of contact to answer questions about lender-specific policies and loan documents, helping the borrower sign with confidence. This contrasts with the general marketplace where no minimum revenue is required to get matched with lenders.

• Small business revenue grew 48% year-over-year in Q1 2025.
• The company expects small business to generate record revenue in 2025.
• The dedicated sales force investment improved lender bonus revenue streams.

Finance: draft the Q3 2025 customer service cost allocation report by next Tuesday.

LendingTree, Inc. (TREE) - Canvas Business Model: Channels

You're looking at how LendingTree, Inc. gets its product-loan and insurance matching-to the customer and the partner. This is all about the delivery mechanism, and the numbers from the third quarter of 2025 show a clear shift in what's working.

LendingTree.com website and mobile applications

The core digital storefront remains the primary channel, driving the bulk of the business, though some legacy traffic sources faced headwinds. For the third quarter ended September 30, 2025, LendingTree, Inc. reported a consolidated revenue of $307.8 million. The company is projecting full-year 2025 revenue to land between $1.08 billion and $1.09 billion. You can see the channel performance reflected in the segment results:

Segment	Q3 2025 Revenue	Year-over-Year Growth
Insurance	$203.5 million	20%
Consumer	$66.2 million	11%
Home	$38.1 million	18%

The company noted that in Q3 2025, legacy SEO traffic trends were described as 'very turbulent,' indicating industry-wide pressure on that specific digital acquisition path.

Direct digital marketing and paid search advertising

This category is largely captured within the Variable Marketing Margin (VMM), which represents the variable costs paid for advertising and direct marketing. For Q3 2025, the Variable Marketing Margin was $93.2 million, which represented 30% of the total revenue for the quarter. The company is focused on optimizing this mix, aiming to retain high-intent traffic while lowering overall marketing costs to improve margin in the Insurance business.

Spring platform for existing user engagement and cross-selling

The Spring platform is positioned as a key driver for repeat user engagement, which helps lower acquisition costs and increase consumer lifetime value. While specific 2025 metrics for the platform aren't broken out in the latest earnings reports, the overall strategy emphasizes engaging existing users. The company's focus on cross-selling is evident in the segment growth, particularly in areas like Home Equity, where revenue increased 35% year-over-year in Q3 2025.

Concierge sales team (inbound/outbound calls)

The investment in the concierge sales team is a deliberate channel strategy, especially within the Consumer segment. This high-touch service model directly supported the small business team, which saw its revenue increase 50% year-over-year in Q3 2025. This investment also strengthened renewal and lender bonus revenue streams. The resulting improved unit economics allowed LendingTree, Inc. to increase its marketing spend to capture more high-intent small business owners. To be fair, this focus on digital/platform interaction has led to structural changes elsewhere; in March 2025, the company reduced a substantial portion of its call center operation because customers showed an increasing preference for the website and the MyLT platform.

• Number of small business loans closed for partners grew 30% compared to the prior year in Q3 2025.
• Spend from the fourth through tenth largest Insurance carrier partners increased nearly 60% year-over-year in Q3 2025.

Finance: draft 13-week cash view by Friday.

LendingTree, Inc. (TREE) - Canvas Business Model: Customer Segments

You're looking at the core groups LendingTree, Inc. connects with its network partners as of late 2025. Honestly, the business model is all about matching high-intent consumers with the right financial institution, and the Q3 2025 numbers show where the action is.

The customer segments are fundamentally the consumers seeking a financial product and the financial partners who pay for those qualified leads. The platform serves millions, with 33.6 million active users on the Spring platform as of the end of the third quarter of 2025, adding 1.0 million net new users that quarter alone.

Consumers seeking Home products (mortgage, home equity)

This group is looking for purchase mortgages, refinance mortgages, and home equity loans. Despite the challenging mortgage market, this segment showed solid growth in the third quarter of 2025. The Home segment generated $38.1 million in revenue, marking an 18% year-over-year increase. Home equity loans were a particular bright spot, with revenue from that product line jumping 35% year-over-year to $28.3 million in Q3 2025. The Mortgage Bankers Association projected a 16% increase in overall mortgage originations for the full year 2025, which bodes well for this customer base.

Consumers seeking Consumer products (personal loans, credit cards, auto loans)

This is a broad group covering credit cards, personal loans, auto loans, deposit accounts, and debt settlement services. The Consumer segment revenue hit $66.2 million in Q3 2025, up 11% from the prior year. Within this, personal loans are a key driver; that revenue line grew 12% year-over-year to $31.3 million in the third quarter. To give you a sense of the market size LendingTree, Inc. is tapping into, as of Q2 2025, 24.8 million Americans held a personal loan, and the total personal loan debt was $257 billion. The company also saw revenue from its small business offering increase 50% over the prior year in Q3 2025.

Consumers seeking Insurance quotes and policies

This segment focuses on insurance quote products. You defintely see the scale here; the Insurance segment was the largest revenue contributor in Q3 2025, bringing in $203.5 million, a 20% increase year-over-year. The segment profit grew 15% to $47.6 million over the same period. It is important to note that LendingTree, Inc. closed its insurance agency business and stopped selling policies in the second quarter of 2025, focusing strictly on quote generation.

Financial Institutions: Banks, non-bank lenders, and insurance carriers

These partners are the revenue source, paying for the qualified leads generated for their respective products. They are the other side of the marketplace match. The company has a nationwide network of over 500 partners. The growth in segment revenue across the board reflects strong carrier appetite for high-quality leads.

Here's a quick look at the Q3 2025 revenue contribution by segment, which clearly shows the customer base breakdown by product focus:

Segment	Q3 2025 Revenue (Millions USD)	Year-over-Year Revenue Growth	Q3 2025 Segment Profit (Millions USD)
Insurance	$203.5	20%	$47.6
Consumer	$66.2	11%	$35.2
Home	$38.1	18%	$11.8

Small business owners seeking financing

These owners are included within the broader Consumer segment but are tracked separately due to their distinct needs and dedicated sales team investment. The focus on this group led to revenue from the small business offering increasing by 50% year-over-year in Q3 2025. This growth followed a 48% year-over-year revenue increase in the prior year period, showing sustained demand.

The platform also offers consumers free credit scores, credit monitoring, and recommendations to improve credit health, which serves as a value-add to keep these customer segments engaged.

• Personal Loan Delinquency (60+ days past due) as of Q2 2025: 3.37%.
• Average Personal Loan Debt per Borrower as of Q2 2025: $11,676.
• Super-prime mortgage borrowers (score $\ge$ 720) accounted for 79.6% of originations through Q2 2025.

Finance: draft the Q4 2025 segment revenue forecast by next Tuesday.

LendingTree, Inc. (TREE) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive LendingTree, Inc.'s operations as of late 2025. The cost structure is heavily weighted toward acquiring consumer attention, balanced by the fixed overhead required to run the marketplace technology.

High variable marketing expenses to acquire consumer traffic represent the largest, most dynamic cost component. This is the money spent directly on advertising and marketing to bring users to the platform to shop for loans and insurance. For the third quarter of 2025, the reported Variable Marketing Expense was $214.6 million (or $214,600 thousand). This cost is directly subtracted from revenue to calculate the Variable Marketing Margin, which for Q3 2025 was $93.2 million.

The company's capital structure costs are now defined by the new debt facility. LendingTree, Inc. closed a $475 million credit facility in August 2025, split between a $400 million five-year Term Loan B and a $75 million revolving credit facility. This move was specifically intended to lower the cost of capital. The interest expense associated with this debt, which includes the new structure, was reported as $17,907 thousand (or $17.907 million) for the third quarter of 2025. The Term Loan B carries an initial interest rate of SOFR plus 450 basis points.

Personnel and fixed costs for technology development and operations are the expenses that remain after variable marketing is accounted for. These are the costs of running the business that don't fluctuate directly with ad spend. While a precise figure for only technology personnel and fixed costs isn't explicitly broken out in the non-GAAP reconciliation, these costs are embedded within the GAAP Selling and Marketing Expense that is not classified as variable marketing expense, as well as general and administrative expenses. The company's focus on operational excellence suggests a tight control over these overheads.

Technology infrastructure and data licensing costs fall under the umbrella of fixed operating expenses, often captured within depreciation, amortization, and general overhead. These are the costs to keep the proprietary systems running and to license necessary data feeds. For Q3 2025, the reported non-cash expenses related to assets supporting operations include:

• Depreciation: $3,995 thousand
• Amortization of intangibles: $1,288 thousand

Here is a breakdown of key cost-related GAAP adjustments and non-GAAP measures for the third quarter of 2025, which illustrate the cost structure:

Cost/Expense Component (Q3 2025)	Amount (in thousands)	Context
Variable Marketing Expense	$214,600	Direct advertising and marketing spend
Interest Expense, net	$17,907	Cost of debt, including new $475 million facility
Depreciation	$3,995	Non-cash cost for fixed assets
Amortization of intangibles	$1,288	Non-cash cost for acquired assets
Non-cash compensation	$11,190	Stock-based compensation expense
Income tax expense (benefit)	$1,426	Tax provision for the period

The company's strategy involves managing these fixed costs while aggressively deploying variable marketing to drive revenue. For the full-year 2025 outlook provided in July 2025, the expected Variable Marketing Margin was projected to be between $329 million and $336 million.

LendingTree, Inc. (TREE) - Canvas Business Model: Revenue Streams

You're looking at how LendingTree, Inc. actually brings in the money, which, as of late 2025, is heavily weighted toward its insurance vertical. The core of the business model relies on connecting consumers with lenders and carriers across its marketplace.

The primary mechanisms for generating revenue are:

• Lead generation fees from network partners, often structured as pay-per-click or pay-per-call transactions.
• Transaction fees collected for closed loans or sold policies that result from successful consumer connections.

The financial performance for the third quarter of 2025 shows a strong top line. Consolidated Revenue for Q3 2025 was reported at $307.8 million. This represented the company's sixth consecutive quarter of year-over-year revenue growth.

To give you a clearer picture of where that $307.8 million came from in Q3 2025, here is the segment breakdown:

Revenue Segment	Q3 2025 Revenue (Millions USD)	Year-over-Year Growth (Q3 2024 vs Q3 2025)
Insurance segment revenue	$203.5 million	20%
Consumer segment revenue	$66.2 million	11%
Home segment revenue	$38.1 million	18%
Total Consolidated Revenue	$307.8 million	18%

Honestly, the Insurance segment is the engine right now. Its revenue was $203.5 million in Q3 2025, which is a 20% increase over the prior year period. Within the Consumer segment, which brought in $66.2 million, personal loans revenue specifically accounted for $31.3 million, growing 12% year-over-year.

The Home segment contributed $38.1 million in revenue, and within that, revenue from Home Equity saw a substantial 35% increase over the prior year. The company is clearly leaning into maximizing carrier budgets where it is accretive to segment profit. Finance: draft 13-week cash view by Friday.