Lendingclub Corporation · NYSE:LC
Lendingclub — Q3 2025 Earnings Presentation
22 slides from Lendingclub's earnings presentation, Oct 22, 2025
Slide 1: Third Quarter 2025 Results
Third Quarter 2025 Results October 22, 2025
Slide 2: Disclaimer
Disclaimer Some of the statements in this presentation, including statements regarding our competitive advantages, loan and financial performance, business outlook, and demand for our loan programs, are “forward-looking statements.” The words “anticipate,” “believe,” “estimate,” “expect,” “intend,”
Slide 3: Award-Winning, Member-Focused Digital Marketplace Bank
Award-Winning, Member-Focused Digital Marketplace Bank Members1 Originations1 5+ $100+ Million Billion Best High Yield Best Checking Best Personal Loan for Savings Account Account Overall Debt Consolidation Average Customer Net Promoter Review2 Score (NPS)3 4.83 Out of 5 stars 81 1) Total members an
Slide 4: Historically Large Total Addressable Market
Historically Large Total Addressable Market Historically High Outstanding Historically High Credit Card Revolving Consumer Credit1 Interest Rates2 (in thousands; August 2010 to August 2025, seasonally adjusted) (August 2010 to August 2025) $1.3T 21.4% $1,450 21 $1,350 Total outstanding Commercial ba
Slide 5: Compelling Value Proposition for Consumers
Compelling Value Proposition for Consumers Historically Large LendingClub Delivers And Our Members TAM Totaling $1.3T1 Compelling Value Love Us for It 48% of American households carry Members save on average over 30% Our Net Promoter Score (NPS) is revolving debt2 when they consolidate credit card d
Slide 6: Consumer Strategy: Building Lifetime Lending Relationships
Consumer Strategy: Building Lifetime Lending Relationships 1 2 3 Acquire new Drive member Offer additional members through engagement with products and our core personal compelling products, features to meet loans franchise tools, and features their evolving needs ▪ Competitive rates / terms ▪ Mobil
Slide 7: Products Designed to Deeply Engage Members & Improve Financial Outcomes
Products Designed to Deeply Engage Members & Improve Financial Outcomes Award-winning high yield savings The first checking product in account that rewards members for market to offer cash back for positive savings behavior on-time loan payments Competitive base APY with a higher rate Offers 2% cash
Slide 8: Strategically Positioned for Long-term Success
Strategically Positioned for Long-term Success 1 Traditional Fintechs Banks Ability to efficiently serve a broad range of customers Industry-leading marketing efficiency; 5M members ✓ ✓ ✗ Capital-light, high-ROE marketplace earnings stream $107.8M Non-Interest Income ✓ ✓ ✗ Economics Profitable earni
Slide 9: 3Q25 Highlights: Exceeded Financial Targets
3Q25 Highlights: Exceeded Financial Targets 3Q25 Guidance Targets Actuals Commentary Total originations of $2.6B consisting of approximately: ▪ $594M of held-for-investment loans Total $2.5B to $2.6B $2.6B ▪ $600M of held-for-sale extended seasoning loans Originations +37% YoY ▪ $874M loans sold thr
Slide 10: Ongoing Credit Outperformance vs. Competitor Set
Ongoing Credit Outperformance vs. Competitor Set LendingClub vs. Competitor Set: 30-day+ Delinquencies & Hardships at Month on Book 9 by Quarterly Vintage1,2,3,4 LendingClub Competitor Set5 FICO 660-719 FICO 720-779 FICO 780-850 7% 47% 7% 7% 6% 6% 6% 5% 5% 5% 4.2% 4% 4% 38% 4% 3% 3% 2.2% 3% 37% 2% 2
Slide 11: Multiple Loan Disposition Channels Available to Optimize Earnings and Return on Capital
Multiple Loan Disposition Channels Available to Optimize In-Period Earnings and Return on Capital HIGHER Day-1 Contribution LOWER Day-1 Contribution LOWER lifetime value, capital usage, and credit risk HIGHER lifetime value, capital usage, and credit risk WHOLE LOAN STRUCTURED EXTENDED HELD FOR SALE
Slide 12: Driving Strong Originations Growth
Driving Strong Originations Growth Structured Certificates and Extended Seasoning HFS Increase Driven by Growing Investor Demand Consumer Loan Originations1 ($ in millions) +35% to 41% YoY +37% $2,622 $2,500 to $2,600 YoY $2,391 Whole Loan Sales 21% Whole Loan Sales $1,913 $1,989 23% $1,846 Whole Lo
Slide 13: 32% Revenue Growth Year-Over-Year
32% Revenue Growth Year-Over-Year Total Net Revenue ($ in millions) +32% $266.2 $248.4 NON-INTEREST INCOME 75% year-over-year increase driven by higher marketplace $201.9 originations, loan sale pricing improvement and improved fair $107.8 $94.2 value of the Held-for-sale loan portfolio $61.6 NET IN
Slide 14: Growing Balance Sheet with Net Interest Margin Expanding to 6.2%
Growing Balance Sheet with Net Interest Margin Expanding to 6.2% Average Balances3 Average Yield3 3Q24 4Q24 1Q25 2Q25 3Q25 3Q24 4Q24 1Q25 2Q25 3Q25 Cash and Other Interest-Earning Assets1 $940 $1,194 $893 $680 $604 5.30% 4.76% 4.30% 4.19% 4.23% Securities Available for Sale at Fair Value $3,047 $3,3
Slide 15: Improving Efficiency Ratio
Improving Efficiency Ratio Disciplined expense management delivering expanding operating leverage while investing in customer acquisition Efficiency Ratio Total Non-Interest Expense1 (Non-Interest Expense as a % of Net Revenue) ($ in millions) Efficiency Ratio 3Q24 4Q24 1Q25 2Q25 3Q25 Non-Interest E
Slide 16: Held for Investment Personal Loan Credit Performance by Vintage
Held for Investment Personal Loan Credit Performance by Vintage Continue to expect marginal ROEs exceeding 20% for all annual vintages Expected Personal Loans Lifetime Net Loss Rate1,3 LEGEND 2022 Vintage 2023 Vintage 2024 Vintage ▪ 2022, 2023, and 2024 vintages Future 9.3% 9.3% continue to have sta
Slide 17: Nearly Tripled Diluted EPS Year-over-Year
Nearly Tripled Diluted EPS Year-over-Year Expanding profitability and increasing book value per share Pre-Provision Diluted EPS Net Revenue (PPNR)1 ($ in millions) +58% +185% $103.5 $0.37 $93.7 $0.33 $65.5 $0.13 3Q24 2Q25 3Q25 3Q24 2Q25 3Q25 Provision for Credit GAAP Net Income Losses ($47.5) ($39.7
Slide 18: Fourth Quarter 2025 Guidance: Strong Year-over-Year Growth
Fourth Quarter 2025 Guidance: Strong Year-over-Year Growth 4Q’25 Guidance Outlook Context Total $2.5B to $2.6B ▪ Strong YoY growth momentum in Originations originations; expecting normal +35% to +41% YoY Q4 seasonal headwinds Pre-Provision ▪ Investments in marketing in Q4 $90M to $100M to support 20
Slide 19: Reconciliation of GAAP to Non-GAAP Measures: Pre-Provision Net Revenue
Reconciliation of GAAP to Non-GAAP Measures: Pre-Provision Net Revenue1 For the three months ended In thousands September 30, 2025 June 30, 2025 September 30, 2024 GAAP Net Income $ 44,274 $ 38,178 $ 14,457 Less: Provision for Credit Losses (46,280) (39,733) (47,541) Less: Income Tax Expense (12,964
Slide 20: Reconciliation of GAAP to Non-GAAP Measures: Tangible Book Value Per Common Share
Reconciliation of GAAP to Non-GAAP Measures: Tangible Book Value Per Common Share1 In thousands, except share and per share data. September 30, 2025 June 30, 2025 September 30, 2024 Tangible Common Equity: GAAP Common Equity $ 1,462,213 $ 1,406,035 $ 1,342,895 Less: Goodwill (75,717) (75,717) (75,71
Slide 21: Reconciliation of GAAP to Non-GAAP Measures: Return On Tangible Common Equity
Reconciliation of GAAP to Non-GAAP Measures: Return On Tangible Common Equity1 In thousands, except ratios. September 30, 2025 June 30, 2025 September 30, 2024 Average Tangible Common Equity: Average GAAP Common Equity $ 1,424,538 $ 1,381,199 $ 1,307,521 Less: Average Goodwill (75,717) (75,717) (75,
Slide 22: LendingClub
-: LendingClub