LendingTree Inc (NASDAQ: TREE) is an online financial services marketplace that connects consumers seeking loans and other financial products with a network of lenders and financial service providers. Revenue is generated primarily through match fees paid by Network Partners at the time a consumer request is transmitted to them, with additional fees from clicks, calls, and in certain cases closed loan transactions. The company operates three reportable segments: Insurance, Consumer, and Home. Insurance was the largest segment in FY2025 with $711.9 million in revenue (64% of total), followed by Consumer at $253.4 million (23%) and Home at $151.8 million (14%). Total revenue reached $1.117 billion in FY2025, up 24% from $900.2 million in FY2024. Headquartered in Charlotte, North Carolina, LendingTree operates brands including LendingTree and QuoteWizard. The business carries net interest expense of $46.8 million in FY2025, indicating a debt-heavy capital structure.

Revenue model

Transactional match fees paid by Network Partners (lenders, insurers, financial product providers) when a consumer request is transmitted; supplemental revenue from click-through fees and call fees. Closed loan fees apply in certain non-mortgage products. Selling and marketing expense of $812.9 million in FY2025 represents the primary cost driver, reflecting a performance-marketing-dependent model.

Products and services

Online marketplace for mortgage and home loans (Home segment), personal loans, credit cards, small business loans, and other consumer financial products (Consumer segment), and insurance quote comparison including auto and health insurance via QuoteWizard (Insurance segment). Consumer-facing brands include LendingTree and QuoteWizard.

Customers and end markets

Two-sided marketplace serving consumers seeking financial products and Network Partners (lenders, insurance carriers, financial institutions) paying for qualified consumer referrals. End markets include mortgage origination, consumer lending, credit cards, small business lending, and personal insurance. The company shut down its Medicare insurance agency operations within QuoteWizard and closed its Ovation credit services business in 2023.

Value-chain role

Lead generation and consumer-to-lender matching intermediary. Sits between retail consumers and financial product providers; does not originate or underwrite loans or insurance policies directly.

Geographic exposure

United States. No international operations referenced in the filing excerpts.

Source: SEC 10-K, filed 2026-03-09

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