PowerPoint Presentation
Third Quarter 2025 Results October 22, 2025
Disclaimer
Some of the statements in this presentation, including statements regarding our competitive advantages, loan and financial performance, business outlook, and demand for our loan programs, are “forward-looking statements.” The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “predict,” “project,” “will,” “would” and similar expressions may identify forward-looking statements, although not all forward-looking statements contain these identifying words. Factors that could cause actual results to differ materially from those contemplated by these forward-looking statements include: our ability to continue to attract new and retain existing borrowers and platform investors; competition; overall economic conditions; the interest rate environment; the regulatory environment; default rates and those factors set forth in the section titled “Risk Factors” in our most recent Annual Report on Form 10-K as filed with the Securities and Exchange Commission, as well as in our subsequent filings with the Securities and Exchange Commission. We may not actually achieve the plans, intentions or expectations disclosed in forward-looking statements, and you should not place undue reliance on forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in forward-looking statements. We do not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
This presentation contains non-GAAP financial measures relating to our performance – Risk-Adjusted Revenue, Pre-Provision Net Revenue and Tangible Book Value Per Common Share and Return on Tangible Common Equity. Our non-GAAP financial measures have limitations as analytical tools, are not prepared under any comprehensive set of accounting rules or principles and should not be considered in isolation or as a substitute for our results under accounting principles generally accepted in the United States (GAAP). We believe these non-GAAP financial measures provide management and investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and enable comparison of our financial results with other public companies. You can find the reconciliation of these non-GAAP financial measure to the most directly comparable GAAP measures on pages 13, 19, 20, and 21, as applicable, of this presentation.
We do not provide a reconciliation of the forward-looking Pre-Provision Net Revenue and Return on Tangible Common Equity, as disclosed on page 18 of this presentation, to the most directly comparable GAAP reported financial measure on a forward-looking basis because we are unable to predict future provision expense and goodwill, respectively, with reasonable certainty without unreasonable effort.
LendingClub Corporation (NYSE: LC) is the parent company of LendingClub Bank, National Association, Member FDIC.
Award-Winning, Member-Focused Digital Marketplace Bank
Members: 5+ Million
Average Customer Review: 4.83
Originations: $100+ Billion
BEST OF 2025 AWARDS
- Best High Yield Savings Account
USA TODAY
Great Place To Work® Certified MAR 2022-MAR 2023
Historically Large Total Addressable Market
Historically High Credit Card Interest Rates
- Revolving Consumer Credit Owned and Securitized, seasonally adjusted, G.19 Release, Federal Reserve Bank of St. Louis, October 2025.
- Commercial Bank Interest Rate on Credit Card Plans, G.19 Release, Federal Reserve Bank of St. Louis, October 2025.
Compelling Value Proposition for Consumers
- Historically Large TAM Totaling $1.3T
- 48% of American households carry revolving debt
- Since November 2021, average credit card rates have increased by over 650bps to more than 21%
- Members save on average over 30% when they consolidate credit card debt through LendingClub
- Members who consolidate debt see an average 35-point improvement in their credit score
- 87% of our members feel more confident managing their debt after joining us
Consumer Strategy: Building Lifetime Lending Relationships
Acquire new members through our core personal loans franchise
- Compelling value
- Proprietary underwriting
- Differentiated features
- Membership benefits
- World-class experience
Drive member engagement with compelling products, tools, and features
- Tools like DebtIQ to increase transparency and highlight value
- High-engagement products like LevelUp Savings and LevelUp Checking
Offer additional products and features to meet their evolving needs
- Integrated system of products that work together to unlock additional member value
Products Designed to Deeply Engage Members & Improve Financial Outcomes
LevelUp Savings
- Award-winning high yield savings account that rewards members for positive savings behavior
- Over 65K accounts totaling $2.8 billion in deposits since August 2024 launch
- 75% of LevelUp Savings account holders, representing ~95% of total balances, are meeting the $250 monthly savings threshold
LevelUp Checking
- The first checking product in market to offer cash back for on-time loan payments
- Offers 2% cash back for on-time LendingClub loan payments and 1% cash back on qualifying purchases
3Q25 Highlights: Exceeded Financial Targets
| 3Q25 Guidance Targets | Actuals | Commentary | |
|---|---|---|---|
| Total Originations | $2.5B to $2.6B | $2.6B+37% YoY | Total originations consisting of: |
- $594M of held-for-investment loans
- $600M of held-for-sale extended seasoning loans
- $874M loans sold through structured certificates program
- $554M of marketplace whole-loan sales | | Pre-Provision Net Revenue (PPNR) | $90M to $100M | $103.5M+58% YoY | Driven by:
- Higher Net Interest Income from lower deposit funding costs
- Higher Non-Interest Income from higher marketplace originations
- Strong operating leverage
Ongoing Credit Outperformance vs. Competitor Set
LendingClub vs. Competitor Set
- 30-day+ Delinquencies & Hardships at Month on Book 9 by Quarterly Vintage
Driving Strong Originations Growth
Structured Certificates and Extended Seasoning HFS Increase Driven by Growing Investor Demand
32% Revenue Growth Year-Over-Year
Total Net Revenue ($ in millions)
- Non-Interest Income: 75% year-over-year increase
- Net Interest Income: 13% year-over-year increase
Improving Efficiency Ratio
Disciplined expense management delivering expanding operating leverage
| 3Q24 | 4Q24 | 1Q25 | 2Q25 | 3Q25 | |
|---|---|---|---|---|---|
| Compensation & Benefits | 57.4 | 58.7 | 58.4 | 62.0 | 60.8 |
| Marketing | 26.2 | 23.4 | 29.2 | 33.6 | 40.7 |
| Total Non-Interest Expense | 136.3 | 142.9 | 143.9 | 154.7 | 162.7 |
Held for Investment Personal Loan Credit Performance by Vintage
Expected Personal Loans Lifetime Net Loss Rate.
- Total allowance for loan losses in 2022, 2023, and 2024 is $94M.
Nearly Tripled Diluted EPS Year-over-Year
Focusing on expanding profitability and increasing book value per share.
Fourth Quarter 2025 Guidance: Strong Year-over-Year Growth
| 4Q’25 Guidance | |
|---|---|
| Total Originations | $2.5B to $2.6B+35% to +41% YoY |
| Pre-Provision Net Revenue (PPNR) | $90M to $100M+21% to +35% YoY |
| ROTCE | 10% to 11.5%+222% to +270% YoY |
Reconciliation of GAAP to Non-GAAP Measures:
Pre-Provision Net Revenue
| In thousands | September 30,2025 | June 30,2025 | September 30,2024 | |||
|---|---|---|---|---|---|---|
| GAAP Net Income | $44,274 | $38,178 | $14,457 | |||
| Pre-Provision Net Revenue | $103,518 | $93,717 | $65,549 |