Happen, Inc.

For the period ended Jun 30, 2026. Filed Jul 30, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2026 · Filed Jul 30, 2026

HAPN$15.67-3.4%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Income

(In Thousands, Except Share and Per Share Amounts)

	Three Months Ended June 30,		Six Months EndedJune 30,
	2026	2025	2026	2025
Interest income:
Interest on loans(1)	$206,397	$174,645	$406,294	$340,818
Interest on securities available for sale	55,114	55,339	109,525	111,619
Other interest income	7,424	7,113	14,323	16,719
Total interest income	268,935	237,097	530,142	469,156
Interest expense:
Interest on deposits	89,916	82,845	174,887	164,945
Other interest expense	2	3	4	5
Total interest expense	89,918	82,848	174,891	164,950
Net interest income	179,017	154,249	355,251	304,206
Non-interest income:
Origination fees(1)	164,006	87,578	294,094	157,522
Servicing fees(1)	12,890	16,395	26,003	29,143
Gain on sales of loans(1)	21,461	13,540	37,730	25,742
Net fair value adjustments(1)	(121,145)	(27,869)	(210,070)	(57,120)
Other non-interest income	6,626	4,542	12,098	6,653
Total non-interest income	83,838	94,186	159,855	161,940
Total net revenue	262,855	248,435	515,106	466,146
Provision for credit losses	(10,917)	39,733	(10,527)	97,882
Non-interest expense:
Compensation and benefits	68,221	61,989	133,735	120,378
Marketing	62,580	33,580	117,995	62,819
Equipment and software	15,846	14,495	31,139	29,139
Depreciation and amortization	18,152	15,460	33,971	29,369
Professional services	11,989	10,300	23,756	20,064
Occupancy	4,982	4,787	11,373	9,132
Other non-interest expense	16,345	14,107	30,679	27,684
Total non-interest expense	198,115	154,718	382,648	298,585
Income before income tax expense	75,657	53,984	142,985	69,679
Income tax expense	(17,509)	(15,806)	(33,234)	(19,830)
Net income	$58,148	$38,178	$109,751	$49,849
Earnings per share:
Basic EPS	$0.50	$0.33	$0.95	$0.44
Diluted EPS	$0.50	$0.33	$0.94	$0.43
Weighted-average common shares – Basic	115,376,906	114,409,231	115,388,669	114,053,292
Weighted-average common shares – Diluted	117,274,710	115,692,969	117,304,006	115,936,910

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.