LendingClub Corp (LC) is a leading online lending marketplace that connects borrowers and investors. The company's platform facilitates personal loans, business loans, and patient financing. LendingClub Corp's revenue primarily comes from interest and fees earned on loan transactions. As of the most recent financial statement, the company recorded a total revenue of $545.6 million. This revenue is a result of the interest generated from loans originated through the platform. LendingClub Corp's gross profit for the same period was $476.8 million.
Earnings before interest and taxes (EBIT) for LendingClub Corp amounted to $48.9 million, demonstrating the company's ability to generate profits from its operations. Meanwhile, EBITDA, which includes non-cash expenses such as depreciation and amortization, stood at $84.2 million. These figures highlight the company's strong financial performance.
LendingClub Corp's net income, as distributed to stockholders, was $2.4 million. This represents the profit available to the company's equity shareholders. The company's balance sheet reveals that LendingClub Corp has $634.6 million in cash equivalents, providing a significant cash reserve to support its operations and future growth initiatives.
In terms of debt, LendingClub Corp has a net debt of $891.9 million. This reflects the difference between the company's total debt and its cash equivalents. The company's stockholders' equity, on the other hand, stands at $1.6 billion, representing the residual interest in the assets of the company after deducting its liabilities.
LendingClub Corp's total assets amount to $2.5 billion, reflecting the company's strong financial standing. The company's total liabilities, which encompass both short-term and long-term obligations, stand at $898.8 million. This indicates that LendingClub Corp has a healthy asset-to-liability ratio, providing a solid foundation for future growth and stability.
Turning to cash flow, LendingClub Corp generated a healthy operating cash flow of $77.3 million, showcasing the company's ability to generate cash from its core operations. The company also had positive investing cash flow of $22.5 million, indicating its investment in assets and future growth initiatives. Furthermore, the company's financing cash flow stood at $77.4 million, primarily driven by debt-related activities and equity transactions.
Lastly, LendingClub Corp reported free cash flow of $54.8 million for the period. Free cash flow is a measure of the company's ability to generate cash after deducting capital expenditures. This positive free cash flow indicates the company's financial strength and potential to invest in future opportunities.