LendingTree, Inc. (NASDAQ:TREE) Q2 2024 Earnings Call Transcript July 25, 2024 5:00 PM ET

Company Participants

Andrew Wessel - SVP of IR and Corporate Development
Doug Lebda - Chairman and CEO
Jason Bengel - Incoming CFO
Scott Peyree - COO and President of Marketplace Businesses
Trent Ziegler - CFO

Conference Call Participants

Ryan Tomasello - KBW
Youssef Squali - Truist Securities
Melissa Wedel - JPMorgan
Jamie Friedman - Susquehanna International
Mike Grondahl - Northland Securities

Operator

Good day everyone and thank you for standing by. Welcome to LendingTree, Inc. Second Quarter 2024 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. I will hand the call over to the Senior Vice President of Investor Relations and Corporate Development, Andrew Wessel.

Andrew Wessel

Thank you, Carmen, and good afternoon to everyone joining us on the call to discuss LendingTree's second quarter 2024 financial results. With us today are Doug Lebda, LendingTree's Chairman and CEO; Scott Peyree, COO and President of Marketplace Businesses; Trent Ziegler, our CFO; and Jason Bengel, our incoming CFO. As a reminder to everyone, we posted a detailed letter to shareholders on our investor relations website earlier this afternoon, and for purposes of today's call, we will assume that listeners have read that letter and will focus on Q&A.

Before I hand the call over to Doug for his remarks, I remind everyone that 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 view 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 the shareholder letter, both available on our website for the comparable GAAP definitions and full reconciliations of non-GAAP measures to GAAP.

With that, Doug, please go ahead.

Doug Lebda

Thank you, Andrew, and thank you to everyone for joining us this evening. Our company generated exceptional revenue growth this quarter, led by the insurance business more than doubling from the second quarter last year. Our overall revenue outlook continues to improve into the third quarter. As you all know, we operate the business on a day-to-day basis with a laser focus on generating positive incremental variable margin dollars. We seek to attract as many high-intent consumers to our marketplace as we can at positive unit economics while at the same time driving wallet share gains with our insurance and lending clients to both deepen our relationships and expand demand on the network.