Happen, Inc.

For the period ended Sep 30, 2026. Filed Oct 29, 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.

Sep 30, 2026 · Filed Oct 29, 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 September 30,		Nine Months EndedSeptember 30,
	2026	2025	2026	2025
Interest income:
Interest on loans(1)	$216,027	$179,158	$622,321	$519,976
Interest on securities available for sale	55,535	56,253	165,060	167,872
Other interest income	6,740	6,390	21,063	23,109
Total interest income	278,302	241,801	808,444	710,957
Interest expense:
Interest on deposits	95,226	83,221	270,113	248,166
Other interest expense	5	141	9	146
Total interest expense	95,231	83,362	270,122	248,312
Net interest income	183,071	158,439	538,322	462,645
Non-interest income:
Origination fees(1)	173,220	105,731	467,314	263,253
Servicing fees(1)	13,585	17,000	39,588	46,143
Gain on sales of loans(1)	19,608	17,799	57,338	43,541
Net fair value adjustments(1)	(131,409)	(38,375)	(341,479)	(95,495)
Other non-interest income	5,085	5,637	17,183	12,290
Total non-interest income	80,089	107,792	239,944	269,732
Total net revenue	263,160	266,231	778,266	732,377
Provision for credit losses	(15,930)	46,280	(26,457)	144,162
Non-interest expense:
Compensation and benefits	64,529	60,830	198,264	181,208
Marketing	72,763	40,712	190,758	103,531
Equipment and software	17,500	13,465	48,639	42,604
Depreciation and amortization	17,062	16,879	51,033	46,248
Professional services	10,889	10,922	34,645	30,986
Occupancy	3,644	5,245	15,017	14,377
Other non-interest expense	15,928	14,660	46,607	42,344
Total non-interest expense	202,315	162,713	584,963	461,298
Income before income tax expense	76,775	57,238	219,760	126,917
Income tax expense	(17,499)	(12,964)	(50,733)	(32,794)
Net income	$59,276	$44,274	$169,027	$94,123
Earnings per share:
Basic EPS	$0.51	$0.39	$1.46	$0.82
Diluted EPS	$0.50	$0.37	$1.44	$0.81
Weighted-average common shares – Basic	115,504,531	114,961,676	115,427,714	114,359,414
Weighted-average common shares – Diluted	117,582,278	118,188,124	117,397,188	116,690,642

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.