LendingTree, Inc.
For the period ended Mar 2, 2026. Filed Mar 2, 2026.
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Mar 2, 2026 · Filed Mar 2, 2026
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EX-99.1 · Variable Marketing Margin
Variable Marketing Margin
Below is a reconciliation of net income (loss), the most directly comparable GAAP measure, to variable marketing margin and net income (loss) % of revenue to variable marketing margin % of revenue. See "LendingTree's Principles of Financial Reporting" for further discussion of the Company's use of these non-GAAP measures.
| Three Months Ended · Twelve Months Ended | |||||
|---|---|---|---|---|---|
| December 31,2025 | September 30,2025 | December 31,2024 | December 31,2025 | December 31,2024 | |
| (in thousands, except percentages) | |||||
| Net income (loss) | $144,656 | $10,165 | $7,506 | $151,308 | $(41,704) |
| Net income (loss) % of revenue | 45% | 3% | 3% | 14% | (5)% |
| Adjustments to reconcile to variable marketing margin: | |||||
| Cost of revenue | 11,571 | 11,017 | 9,744 | 42,525 | 36,072 |
| Non-variable selling and marketing expense (1) | 10,706 | 10,483 | 11,084 | 42,224 | 40,055 |
| General and administrative expense | 30,965 | 26,229 | 29,111 | 112,888 | 108,705 |
| Product development | 10,577 | 11,297 | 12,937 | 45,251 | 46,358 |
| Depreciation | 3,926 | 3,995 | 4,448 | 16,459 | 18,300 |
| Amortization of intangibles | 1,288 | 1,288 | 1,467 | 5,190 | 5,889 |
| Restructuring and severance | 398 | 80 | 10 | 1,633 | 508 |
| Litigation settlements and contingencies | 382 | 69 | 6 | 15,661 | 3,797 |
| Interest expense, net | 9,394 | 17,907 | 9,950 | 46,787 | 27,849 |
| Other (income) expense | (630) | (732) | (1,143) | (2,998) | 54,162 |
| Income tax (benefit) expense | (131,188) | 1,426 | 1,628 | (130,284) | 4,320 |
| Variable marketing margin | $92,045 | $93,224 | $86,748 | $346,644 | $304,311 |
| Variable marketing margin % of revenue | 29% | 30% | 33% | 31% | 34% |
| (1) | Represents the portion of selling and marketing expense not attributable to variable costs paid for advertising, direct marketing and related expenses. Includes overhead, fixed costs and personnel-related expenses. |
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