LendingTree, Inc. (Árvore): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico dos empréstimos on -line, a LendingTree, Inc. (árvore) revolucionou como os consumidores navegam em oportunidades financeiras, transformando o processo tradicional de busca de empréstimos em um mercado digital sem forma. Ao alavancar a tecnologia de ponta e uma ampla rede de parceiros financeiros, o LendingTree oferece uma plataforma que muda o jogo que capacita os consumidores a comparar, explorar e proteger empréstimos em várias categorias de produtos com facilidade e transparência sem precedentes. Esse modelo inovador de negócios posicionou a empresa como uma força disruptiva no cenário de tecnologia financeira, conectando os mutuários a credores por meio de uma abordagem sofisticada e centrada no usuário que simplifica o complexo mundo das finanças pessoais.

LendingTree, Inc. (árvore) - Modelo de negócios: Parcerias -chave

Instituições financeiras e bancos que fornecem produtos de empréstimos

A LendingTree faz parceria com aproximadamente 400 instituições financeiras, incluindo:

Tipo de parceiro	Número de parceiros
Bancos	175
Cooperativas de crédito	85
Credores online	140

Empresas de tecnologia e análise de dados

As principais parcerias tecnológicas incluem:

• Experian
• Transmunião
• Equifax
• Tecnologias xadrez

Plataformas de marketing on -line e publicidade

Plataforma	Gastos anuais de marketing
Google anúncios	US $ 42,3 milhões
Anúncios do Facebook	US $ 18,7 milhões

Agências de relatórios de crédito

Parceiros de relatórios de crédito primário:

• Experian (participação de mercado: 39%)
• Transunião (participação de mercado: 33%)
• Equifax (participação de mercado: 28%)

Provedores de serviços de seguros e comparação

Categoria de seguro	Número de fornecedores de parceiros
Seguro automóvel	47
Seguro residencial	35
Seguro de vida	22

LendingTree, Inc. (árvore) - Modelo de negócios: atividades -chave

Operação de mercado de empréstimos online

O LendingTree opera uma plataforma on -line que facilitou US $ 46,3 bilhões em transações de empréstimos em 2022. A Companhia processou aproximadamente 12,4 milhões de solicitações de empréstimos durante esse ano fiscal.

Métrica	2022 Valor
Total de transações de empréstimo	US $ 46,3 bilhões
Solicitações de empréstimo processadas	12,4 milhões

Comparação de empréstimos digitais e serviços de correspondência

A plataforma fornece serviços de comparação em várias categorias de produtos financeiros.

• Empréstimos hipotecários
• Empréstimos pessoais
• Empréstimos para automóveis
• Cartões de crédito
• Empréstimos para o patrimônio líquido

Geração de leads e referências de leads do cliente

O LendingTree gerou US $ 1,2 bilhão em receita para 2022, com uma parcela significativa derivada da geração de leads e taxas de referência.

Desenvolvimento e manutenção da plataforma de tecnologia

A empresa investiu US $ 78,4 milhões em despesas de tecnologia e desenvolvimento em 2022. A infraestrutura de tecnologia suporta mais de 500 parceiros de empréstimos.

Investimento em tecnologia	2022 Despesas
Gastos de desenvolvimento de tecnologia	US $ 78,4 milhões
Rede de parceiros de empréstimos	500 mais de parceiros

Pesquisa e análise de produtos financeiros

O LendingTree mantém um banco de dados abrangente que rastreia as taxas e tendências de produtos financeiros em várias categorias de empréstimos.

• Rastreamento de taxas de juros em tempo real
• Análise abrangente do mercado de empréstimos
• Monitoramento de tendências de crédito ao consumidor

LendingTree, Inc. (árvore) - Modelo de negócios: Recursos -chave

Plataforma de tecnologia de comparação on -line avançada

A plataforma de tecnologia da LendingTree processou 59,3 milhões de solicitações de empréstimo em 2022. A plataforma suporta comparação em várias categorias de produtos financeiros com recursos de processamento de dados em tempo real.

Métrica de tecnologia	2022 Valor
Pedidos totais de empréstimo	59,3 milhões
Tempo de atividade da plataforma	99.98%
Tempo médio de resposta	0,3 segundos

Extenso banco de dados de produtos financeiros

O LendingTree mantém um banco de dados abrangente que cobre várias categorias de produtos financeiros.

• Empréstimos hipotecários
• Empréstimos pessoais
• Empréstimos para automóveis
• Cartões de crédito
• Empréstimos estudantis
• Empréstimos para o patrimônio líquido

Grande rede de parceiros de empréstimos

A partir de 2022, a rede da LendingTree incluía mais de 500 instituições e credores financeiros.

Tipo de parceiro	Número de parceiros
Bancos	185
Cooperativas de crédito	120
Credores online	195

Forte reconhecimento de marca

O LendingTree gerou US $ 1,07 bilhão em receita para 2022, demonstrando presença significativa no mercado.

Recursos de análise de dados e insights do cliente

A empresa processa mais de 35 milhões de sessões de visitantes exclusivas anualmente, gerando extensos dados de comportamento financeiro do consumidor.

Métrica de análise de dados	2022 Valor
Sessões exclusivas para visitantes	35 milhões
Perfis financeiros do consumidor	Mais de 20 milhões
Pontos de dados em tempo real	500+ por usuário

LendingTree, Inc. (árvore) - Modelo de negócios: proposições de valor

Comparação de empréstimo gratuito em vários produtos financeiros

O LendingTree fornece aos usuários uma comparação gratuita de produtos financeiros em várias categorias:

Categoria de produto	Número de provedores	Opções de comparação média
Empréstimos hipotecários	500+ credores	12-15 ofertas diferentes de empréstimo
Empréstimos pessoais	Mais de 300 provedores	8-10 opções de empréstimo diferentes
Empréstimos para automóveis	Mais de 250 instituições financeiras	6-8 ofertas comparativas
Cartões de crédito	Mais de 100 emissores de cartões	10-12 comparações de cartão de crédito

Processo de solicitação de empréstimo simplificado

LendingTree simplifica os pedidos de empréstimo por meio de:

• Formulário de inscrição online único
• Combinação de crédito em tempo real
• Pré-qualificação instantânea
• Envio de documentos digitais

Acesso a diversas opções de empréstimo

O ecossistema de empréstimos inclui:

Segmento de empréstimo	Fornecedores ativos	Interações mensais do usuário
Bancos tradicionais	65	125.000 mais de interações
Cooperativas de crédito	45	85.000 mais de interações
Credores online	90	210.000 mais de interações
Instituições financeiras especializadas	40	55.000 mais de interações

Informações transparentes do produto financeiro

Detalhes abrangentes do produto incluem:

• Taxas de juros com atualizações em tempo real
• Termos detalhados do empréstimo
• Estruturas completas de taxas
• Critérios de elegibilidade abrangentes

Recomendações de empréstimos personalizados

Métricas de personalização:

Fator de recomendação	Nível de personalização	Precisão da correspondência
Pontuação de crédito	Alto	Precisão de 92%
Faixa de renda	Médio	85% de precisão
Relação dívida / renda	Alto	88% de precisão
Status de emprego	Médio	80% de precisão

LendingTree, Inc. (árvore) - Modelo de negócios: relacionamentos com o cliente

Plataforma digital de autoatendimento

A partir do quarto trimestre 2023, a plataforma digital da LendingTree suporta mais de 500.000 usuários ativos mensais. A plataforma processa aproximadamente 35 milhões de solicitações de empréstimo anualmente com uma taxa de conversão de 12,4%.

Métrica da plataforma	Valor
Usuários ativos mensais	500,000
Solicitações anuais de empréstimo	35 milhões
Taxa de conversão da plataforma	12.4%

Algoritmos de recomendação automatizada

O algoritmo proprietário do LendingTree gera correspondências personalizadas de empréstimos com uma taxa de precisão de 94,3%. O sistema processa mais de 2,5 milhões de perfis financeiros exclusivos mensalmente.

Suporte ao cliente através de vários canais digitais

• Suporte de bate -papo online 24/7
• Horário de resposta de suporte por e-mail: 2-4 horas
• Suporte telefônico disponível 7 dias por semana
• Integração de atendimento ao cliente do aplicativo móvel

Experiência personalizada do usuário

Os recursos de personalização do usuário resultam em uma taxa de engajamento 27,6% mais alta em comparação com as plataformas não personalizadas. Algoritmos de aprendizado de máquina personalizam recomendações de empréstimos com 89,5% de relevância.

Engajamento contínuo por e -mail e notificações

Canal de engajamento	Interações mensais
Notificações por e -mail	3,2 milhões
Notificações push	1,7 milhão
Campanhas de redirecionamento	450,000

LendingTree, Inc. (árvore) - Modelo de negócios: canais

Site da empresa

O canal digital principal do LendingTree é www.lendree.com, que processou US $ 196 bilhões em solicitações de empréstimo em 2022. O site atrai aproximadamente 12 milhões de visitantes mensais exclusivos, gerando 3,1 milhões de solicitações de empréstimo anualmente.

Métrica do site	2022 dados
Visitantes mensais únicos	12 milhões
Solicitações anuais de empréstimo	3,1 milhões
Volume total de solicitação de empréstimo	US $ 196 bilhões

Aplicativo móvel

O aplicativo móvel da LendingTree foi baixado mais de 10 milhões de vezes nas plataformas iOS e Android. O aplicativo gera aproximadamente 35% do total de solicitações de empréstimos digitais.

• 10 milhões de+ downloads de aplicativos
• 35% das solicitações de empréstimo digital via celular
• Disponível em plataformas iOS e Android

Plataformas de publicidade digital

O LendingTree aloca US $ 85,4 milhões anualmente para publicidade digital no Google, Facebook e redes de anúncios programáticas. A estratégia de marketing digital da empresa gera um custo de aquisição de clientes de US $ 48 por lead.

Métrica de publicidade digital	Quantia
Gasto anual de anúncios digitais	US $ 85,4 milhões
Custo de aquisição do cliente	US $ 48 por lead

Marketing por e -mail

O LendingTree mantém um banco de dados de email de 22 milhões de assinantes com uma taxa de abertura média de 18,6% e uma taxa de cliques de 2,7%.

Métrica de marketing por e -mail	Desempenho
Total de assinantes de email	22 milhões
Taxa de abertura por e -mail	18.6%
Taxa de cliques	2.7%

Redes de marketing de afiliados

O LendingTree opera através de mais de 500 parceiros de marketing de afiliados, gerando 40% do total de referências de empréstimos. A empresa paga uma comissão média de US $ 12 a US $ 18 por liderança qualificada.

• 500+ parceiros de marketing de afiliados
• 40% dos referências de empréstimos de afiliados
• Faixa da Comissão Líder: US $ 12 a US $ 18

LendingTree, Inc. (árvore) - Modelo de negócios: segmentos de clientes

Consumidores que buscam empréstimos pessoais

O LendingTree tem como alvo os candidatos a empréstimos pessoais com a seguinte quebra demográfica:

Faixa etária	Porcentagem de usuários
18-34 anos	42%
35-54 anos	38%
55 anos ou mais	20%

Buscadores de hipotecas

Características do segmento de clientes hipotecários:

• Pontuação de crédito médio: 720
• Renda familiar média: US $ 85.000
• Faixa etária primária: 30-45 anos

Solicitantes de empréstimos para pequenas empresas

Tamanho comercial	Volume de empréstimo
0-10 funcionários	67%
11-50 funcionários	22%
51-100 funcionários	11%

Usuários de comparação de cartão de crédito

Segmento de cartão de crédito profile:

• Renda anual média: US $ 75.000
• Faixa de pontuação de crédito: 650-800
• Faixa etária primária: 25-45 anos

Buscadores de empréstimos de automóveis

Tipo de veículo	Porcentagem de empréstimo
Carros novos	55%
Carros usados	45%

LendingTree, Inc. (árvore) - Modelo de negócios: estrutura de custos

Manutenção de infraestrutura de tecnologia

Custos anuais de infraestrutura de tecnologia para LendingTree em 2023: US $ 42,3 milhões

Categoria de custo de tecnologia	Quantidade de despesa
Serviços em nuvem	US $ 18,7 milhões
Manutenção do data center	US $ 12,5 milhões
Sistemas de segurança cibernética	US $ 11,1 milhões

Despesas de marketing digital

Gastos totais de marketing digital em 2023: US $ 87,6 milhões

• Marketing de mecanismo de pesquisa: US $ 35,2 milhões
• Publicidade de mídia social: US $ 22,4 milhões
• Publicidade de exibição: US $ 18,9 milhões
• Marketing de afiliados: US $ 11,1 milhões

Salários e benefícios dos funcionários

Total de despesas de pessoal para 2023: US $ 156,4 milhões

Categoria de funcionários	Compensação média anual
Profissionais de tecnologia	$145,000
Representantes de vendas	$92,500
Atendimento ao Cliente	$65,300

Investimentos de pesquisa e desenvolvimento

Despesas de P&D em 2023: US $ 63,2 milhões

• Desenvolvimento de produtos: US $ 38,7 milhões
• Algoritmos de aprendizado de máquina: US $ 15,5 milhões
• Melhorias na experiência do usuário: US $ 9 milhões

Custos de aquisição de clientes

Total de despesas de aquisição de clientes em 2023: US $ 124,8 milhões

Canal de aquisição	Custo por cliente adquirido
Canais online	$48
Programas de referência	$35
Mídia tradicional	$72

LendingTree, Inc. (árvore) - Modelo de negócios: fluxos de receita

Comissão de referências de empréstimo

O LendingTree gerou US $ 718,1 milhões em receita total para o ano fiscal de 2022, com uma parcela significativa derivada de comissões de referência de empréstimos.

Tipo de empréstimo	Taxa média de comissão	Receita anual estimada
Empréstimos hipotecários	1.5% - 3%	US $ 254,3 milhões
Empréstimos pessoais	2% - 4%	US $ 167,5 milhões
Empréstimos para automóveis	1% - 2%	US $ 96,2 milhões

Taxas de geração de leads

O LendingTree cobra instituições financeiras por leads qualificados de consumidores em várias categorias de produtos financeiros.

• O custo médio de chumbo varia de US $ 15 a US $ 75 por lead qualificado
• Receita anual estimada de geração de leads: US $ 142,6 milhões
• Taxa de conversão de chumbo: aproximadamente 3-5%

Receita de publicidade

A publicidade digital e o conteúdo patrocinado geram fluxos de renda adicionais para o LendingTree.

Canal de publicidade	Receita anual
Exibir publicidade	US $ 37,4 milhões
Conteúdo financeiro patrocinado	US $ 22,9 milhões

Assinaturas de serviço premium

O LendingTree oferece serviços aprimorados para consumidores e profissionais financeiros.

• Assinatura de monitoramento de crédito: US $ 14,99/mês
• Acesso profissional para consultores financeiros: US $ 49,99/mês
• Receita anual estimada de assinatura: US $ 28,3 milhões

Vendas de licenciamento de dados e insights

Os dados de inteligência do mercado financeiro e comportamento do consumidor são monetizados por meio de parcerias estratégicas.

Produto de dados	Receita anual
Insights de crédito ao consumidor	US $ 19,7 milhões
Relatórios de tendências de mercado	US $ 12,5 milhões

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.