LendingTree, Inc. (NASDAQ:TREE) Q1 2018 Earnings Conference Call - Preliminary Transcript

Apr 26, 2018 • 09:00 am ET


LendingTree, Inc. (NASDAQ:TREE) Q1 2018 Earnings Conference Call - Preliminary Transcript


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Good day, ladies and gentlemen, and welcome to the LendingTree Inc First Quarter 2018 Earnings Conference Call. At this time, all participants are in a listen only mode. Later, we will conduct a question-and-answer session, and instructions will follow at that time. (Operator Instructions) As a reminder, this conference is being recorded.

I would like to introduce your host for today's conference, Doug Lebda, Chief Executive Officer. You may begin.

Doug Lebda

Thanks, operator, and thank you all for to attending the call this morning. I want to use this time to share my thoughts on LendingTree's performance in the first quarter, provide relevant updates on the business and discuss the progress we've made against our strategic initiatives. JD will then cover the quarter's financials results and our guidance.

Before we jump, let me first provide a quick disclaimer. During today's call, we may discuss LendingTree's plans, expectations, outlooks or forecast for future performance. Forward-looking statements are typically preceded by words such as we expect, we believe, we anticipate or other similar statements. These forward-looking statements 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 LendingTree's periodic reports filed with the SEC.

On today's call, we will discuss a number of non-GAAP measures, and I refer you to today's press release available on our website at investors.lendingtree.com for the comparable GAAP measure, definitions and full reconciliations of non-GAAP measures to GAAP.

Now let's dive in. Overall, I am thrilled with LendingTree's strong first quarter performance, where we continue to outpace the mortgage industry and thanks to our diversification, we've also been able to lean in and invest in and invest in key aspects of our business for the long term. Our mortgage business grew in the face of a tough macro environment, and our non-mortgage businesses are performing extremely well. And we remain highly focused on our mission to help both consumers and lenders.

As you know, our mission to be (inaudible) helping every consumer regardless of his or her credit situation. We want to help consumers improve their financial standing, realize their financial goals and help them save money on all their financial transactions. At the same time, we are dedicated to helping lenders and financial services providers to find the right customers to grow their business with efficiency. At our Analyst Day last quarter, we spoke about four strategic initiatives. Today, I'd like to focus on two of these pillars and give you a sense for the progress that we are making.

Clearly, our numbers are good. But sometimes those don't capture all the initiatives that are going internally to propel our business for years to come. First pillar is our commitment to redefining and strengthening our relationship with consumer. A major component of this is My LendingTree, and we've obviously talked to you about this year in the past. In Q1, the My LendingTree revenue contribution grew 76% year-over-year,