SpendscapeCompanies · performance marketing
LendingTree
Sell sideTREE
LendingTree brought in $1.12B of revenue in fiscal 2025, growing 4% a year over five years at a 6% operating margin.
$1.12Brevenue, FY2025
+4%growth a year, 5 years
6%operating margin
Revenue and margin
Bars: revenue, $B (10-K). Line: operating margin. Years where the filing's revenue line isn't comparable are left out of the line.
What they told investors
“Every five-point increase in organic revenue mix represents about $40 million of incremental segment profit and roughly 400 basis points of uplift in our variable marketing margin.”Scott Peyree · 2026 Q1 · transcript
“After making a dedicated marketing investment during the first quarter, we expect revenue growth will continue and margins should expand in Q2.”Scott Peyree · 2026 Q1 · transcript
“Like Scott said, this is probably more in the second half, and the amount that we spend is going to be a function of how well we are performing, I guess, is thing one, and then also how well that brand spend itself is performing as well.”management · 2025 Q4 · transcript
“Our goal is to target brand spend in several large geographic markets in the second half of this year, introducing new customers to our redesigned experience. Thank you, everyone.”Scott Peyree · 2025 Q4 · transcript
What they see in the market
What its leaders and filings say about the ad market: its own ad business, or the channels advertisers use, since 2019; counts are statements, not spending.
Affiliate & lead gen 26× since 2019Paid search 3× since 2020Programmatic & display 3× since 2019SEO & AI search 2× since 2019Linear TV 1× since 2020CRM, loyalty & first-party data 1× since 2020Measurement 1× since 2019
- Paid search “But yes, it is fair to say Google marketplaces, for example, are more expensive today than they were a year ago.” Scott Peyree on the earnings call · Aug 7, 2026 · source
- Affiliate & lead gen “Mortgage brokers have continued to take origination share from direct-to-consumer lenders nationally, and we have increased our sales effort to bring more brokers onto our marketplace.” 10-Q · Jul 31, 2026 · source
- Programmatic & display “Our Other category primarily includes revenue from the resale of online advertising space to third parties.” 10-K · Mar 1, 2022 · source
- Linear TV “And the nice thing in that product is that on TV, if you look at all the carriers independently, they're all advertising against each other.” J.D. Moriarty on the earnings call · May 6, 2020 · source
- CRM, loyalty & first-party data “All of those products drive more marketing opportunities to save the customer money and contact them via all the methods of contact to actually close more transactions.” Doug Lebda on the earnings call · Feb 25, 2020 · source