LendingTree, Inc. (NASDAQ:TREE) Q1 2022 Earnings Conference Call May 5, 2022 9:00 AM ET

Company Participants

Andrew Wessel - Head, Investor Relations

Doug Lebda - Chairman & Chief Executive Officer

J.D. Moriarty - President, Marketplace & Chief Operating Officer

Trent Ziegler - Chief Financial Officer

Scott Peyree - President, Insurance

Conference Call Participants

John Campbell - Stephens Inc

Jed Kelly - Oppenheimer

Ryan Tomasello - KBW

Rob Wildhack - Autonomous Research

Youssef Squali - Truist

Melissa Wedel - JPMorgan

Nat Schindler - Bank of America

Jamie Friedman - Susquehanna

Operator

Good day, and thank you for standing by. Welcome to the LendingTree, Inc. First Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Andrew Wessel, Head of Investor Relations. Please go ahead.

Andrew Wessel

Thanks, Andrea, and good morning to everyone joining us on the call this morning to discuss LendingTree's first quarter 2022 financial results. On the call today are Doug Lebda, LendingTree's Chairman and CEO; J.D. Moriarty, President of Marketplace and COO; and Trent Ziegler, CFO; and Scott Peyree, President of Insurance.

As a reminder to everyone, we posted a detailed letter to shareholders on our Investor Relations website earlier today. And for purposes of today's call, we will assume that listeners have read that letter and we'll focus on Q&A.

Before I hand the call over to Doug to give his remarks, I want to remind everyone that today -- during today's call, we may discuss LendingTree's expectations for future performance. Any forward-looking statements that we make are subject to risks and uncertainties and LendingTree's actual results could differ materially from the views expressed today. Many, but not all of the risks we face are described in our periodic reports, filed with the SEC.

We will also discuss a variety of non-GAAP measures on the call today, and I refer you to today's press release and shareholder letter both available on our website at investors.lendingtree.com for the comparable GAAP definitions and full reconciliations of non-GAAP measures to GAAP.

And with that, Doug, please go ahead.

Doug Lebda

Thanks, Andrew, and thank you all for joining us today. Our business again performed well in the face of a difficult macro environment. Our lending marketplace grew revenue in DMD year-over-year despite rapidly increasing rates, improving demand and unit economics across purchase mortgage, home equity, personal and small business loans helped to offset shrinking demand for rate and term mortgage refinance.