Q2 26 EPS
$0.50
BEAT +19.88%
Est. $0.42
Q2 26 Revenue
$262.9M
BEAT +0.92%
Est. $260.5M
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 q… Read more 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.
Key Takeaways
- • 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%
LC 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
Q2 2026 vs Q2 2025, source: SEC Filings
LC Revenue by Segment
With YoY comparisons, source: SEC Filings
“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%.”
— Scott Sanborn, Q2 2026 Earnings Press Release
LC Earnings Trends
LC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
LC EPS Trend
Earnings per share: estimate vs actual
LC Revenue Trend
Quarterly revenue: estimate vs actual
LC Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $0.42 | $0.50 | +19.88% | $262.9M | +0.92% |
| Q1 26 BEAT | $0.36 | $0.44 | +23.73% | $252.3M | +1.27% |
| Q4 25 BEAT FY | $0.34 | $0.35 | +4.14% | $266.5M | +1.71% |
| FY Full Year | — | $1.16 | — | $998.8M | — |
| Q3 25 BEAT | $0.31 | $0.37 | +20.88% | $266.2M | +3.99% |
| Q2 25 BEAT | $0.15 | $0.33 | +116.68% | $248.4M | +9.23% |