-=Lending Club (LC) reported earnings on Tue 20 Feb 2018 (a/h)

Lending Club misses by $0.01, reports revs in-line; guides Q1 revs below consensus; guides FY18 revs in-line(

• Reports Q4 (Dec) earnings of $0.01 per share, excluding non-recurring items, $0.01 worse thanthe Capital IQ Consensus of $0.02; revenues rose 19.9% year/year to $156.5 mln vs the $157.55 mln Capital IQ Consensus, driven primarily by a higher volume of loan originations in the fourth quarter of 2017 compared to the same quarter last year. Net revenue as a percent of originations, or revenue yield, was 6.42% in the fourth quarter of 2017.
• Loan originations in the fourth quarter of 2017 were $2.44 billion, remaining relatively flat from the third quarter of 2017 and up 23% compared to the same quarter last year.
• Co issues downside guidance for Q1, sees Q1 revs of $145-155 mln vs. $158.58 mln Capital IQ Consensus Estimate; Net Income (Loss) in the range of $(25) million to $(20) million; Adjusted EBITDA in the range of $5 million to $10 million.
• Co issues in-line guidance for FY18, sees FY18 revs of $680-705 mln vs. $692.09 mln Capital IQ Consensus Estimate. Net Income (Loss) in the range of $(53) million to $(38) million; Adjusted EBITDA in the range of $75 million to $90 million. vs. $44.6 mln in FY17.