LendingClub Corp
Q2 2026 Earnings
Market Reaction
Did LC Beat Earnings? Q2 2026 Results
Happen, Inc. (Nasdaq: HAPN), the company formerly known as LendingClub Corporation, delivered a standout second quarter for fiscal 2026, posting diluted EPS of $0.50 and beating the $0.42 consensus estimate by 19.88%, marking the fourth consecutive quarter the company has topped Wall Street's earnings expectations. Revenue of $262.86 million edged past the $260.45 million consensus by 0.92%, though it fell 20.7% year-over-year, a decline the company attributed in part to its January 2026 adoption of fair value option accounting, which restructured how credit-related adjustments flow through the income statement. The most material driver of the profitability beat was a swing in the provision for credit losses to a benefit of $10.92 million, compared to an expense of $39.73 million a year ago, alongside a 16% rise in net interest income to $179.02 million. Loan originations surged 29% to $3.15 billion, with the company now expanding into home improvement lending. Looking ahead, management guided Q3 2026 diluted EPS of $0.43 to $0.48 and full-year originations of $12.2 billion to $12.6 billion.
- Loan originations grew 29% year-over-year to $3.1 billion driven by product and marketing initiatives
- Net interest income grew 16% year-over-year to $179 million
- Provision for credit losses swung to a $10.9 million benefit from $39.7 million expense due to strong credit performance and FVO accounting adoption
- Net charge-offs improved to $40.6 million from $46.1 million year-over-year
- Over 40% lower delinquencies versus competitor set
- Net interest margin of 6.14%
“Happen delivered a standout quarter, growing originations 29% year-over-year to $3.1 billion, while producing record pre-tax income of $75.7 million and a return on tangible common equity of 15.9%.”
LendingClub CEO, on the earnings call
Forward Guidance & Outlook
For Q3 2026, the company guided loan originations of $3.20 billion to $3.35 billion and diluted EPS of $0.43 to $0.48. For full year 2026, the company guided loan originations of $12.2 billion to $12.6 billion and diluted EPS of $1.80 to $1.90.
LC YoY Financials
LC Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.