Exhibit 99.1

LENDINGTREE REPORTS SECOND QUARTER 2021 RESULTS

Consumer segment recovery gains momentum as Home and Insurance remain strong

  • Consolidated revenue of $270.0 million
  • GAAP net income from continuing operations of $9.8 million or $0.71 per diluted share
  • Variable marketing margin of $98.4 million
  • Adjusted EBITDA of $38.2 million
  • Adjusted net income per share of $0.76

CHARLOTTE, NC - July 29, 2021 - LendingTree, Inc. (NASDAQ: TREE), operator of LendingTree.com, the nation's leading online financial services marketplace, today announced results for the quarter ended June 30, 2021.

The company has posted a letter to shareholders on the company's website at investors.lendingtree.com.

"Our second quarter results demonstrate clear evidence of increasing momentum at the company," said Doug Lebda, Chairman and CEO. "Our financial performance is rebounding in a meaningful way as those businesses hit hardest by the pandemic continue their return to health. Our recent leadership re-alignment has largely taken shape, and our priorities are becoming clear. Our people are returning to our offices across the country with renewed enthusiasm and focus, and we're executing on our mission to enable consumers to make the smartest financial decisions at the most critical times in their lives."

Trent Ziegler, CFO, added, "The recovery in our Consumer segment is encouraging, and its impact to the overall profitability of the Company is a clear highlight from the quarter's results. Combined with sustained strength in Home and Insurance, the fundamentals of our core businesses are solidifying, enabling us to continue executing against our strategic growth initiatives. Our path back to pre-COVID levels of performance and beyond is becoming more visible, and we look forward to continued progress in the back half of the year."

Second Quarter 2021 Business Highlights

  • Home segment revenue of $104.9 million grew 42% over second quarter 2020 and produced segment profit of $39.0 million, up 1% over the same period. Segment profit climbed to 37% of revenue vs 30% in the preceding quarter.
    • Within Home, mortgage products revenue of $87.5 million grew 31% over the prior year period.
  • Consumer segment revenue of $75.7 million grew 104% over second quarter 2020 as trends continued to improve in credit card and personal loans. Segment profit improved to $33.4 million, up 72% year-over-year.
    • Personal loans revenue of $25.2 million increased 70% over first quarter 2021.
    • Within Consumer, credit card revenue of $22.4 million grew 27% over first quarter 2021.
  • Insurance segment revenue of $89.3 million grew 22% over second quarter 2020 and translated into Insurance segment profit of $33.2 million, up 10% over the same period.
  • Through June 30, 2021, 18.9 million consumers have signed up for My LendingTree.

Page 2

LendingTree Summary Financial Metrics

(In millions, except per share amounts)

Three Months Ended

Y/Y

Three Months Ended

Q/Q

June 30,

March 31,

2021

2020

% Change

2021

% Change

Total revenue

$

270.0

$

184.3

47 %

$

272.8

(1)%

Income (loss) before income taxes

$

0.7

$

(12.5)

106

%

$

28.0

(98) %

Income tax benefit (expense)

$

9.1

$

3.9

133

%

$

(8.7)

205 %

Net income (loss) from continuing

$

9.8

$

(8.6)

214 %

$

19.3

(49)%

operations

Net income (loss) from continuing

4 %

(5)%

7 %

operations % of revenue

Income (loss) per share from continuing

operations

Basic

$

0.74

$

(0.66)

212

%

$

1.48

(50) %

Diluted

$

0.71

$

(0.66)

208

%

$

1.37

(48) %

Variable marketing margin

Total revenue

$

270.0

$

184.3

47

%

$

272.8

(1) %

Variable marketing expense (1) (2)

$

(171.6)

$

(101.8)

69

%

$

(183.8)

(7) %

Variable marketing margin (2)

$

98.4

$

82.5

19 %

$

89.0

11 %

Variable marketing margin % of revenue (2)

36 %

45 %

33 %

Adjusted EBITDA (2)

$

38.2

$

30.8

24 %

$

30.7

24 %

Adjusted EBITDA % of revenue (2)

14 %

17 %

11 %

Adjusted net income (2)

$

10.4

$

6.4

63 %

$

2.5

316 %

Adjusted net income per share (2)

$

0.76

$

0.46

65 %

$

0.18

322 %

  1. Represents the portion of selling and marketing expense attributable to variable costs paid for advertising, direct marketing and related expenses. Excludes overhead, fixed costs and personnel-related expenses.
  2. Variable marketing expense, variable marketing margin, variable marketing margin % of revenue, adjusted EBITDA, adjusted EBITDA % of revenue, adjusted net income and adjusted net income per share are non-GAAP measures. Please see "LendingTree's Reconciliation of Non-GAAP Measures to GAAP" and "LendingTree's Principles of Financial Reporting" below for more information.

Page 3

LendingTree Segment Results

(In millions)

Three Months Ended

Y/Y

Three Months Ended

Q/Q

June 30,

March 31,

2021

2020

% Change

2021

% Change

Home(1)

Revenue

$

104.9

$

74.1

42

%

$

128.1

(18) %

Segment profit

$

39.0

$

38.7

1

%

$

39.0

- %

Segment profit % of revenue

37 %

52 %

30 %

Consumer(2)

Revenue

$

75.7

$

37.1

104

%

$

57.9

31

%

Segment profit

$

33.4

$

19.4

72

%

$

24.6

36

%

Segment profit % of revenue

44 %

52 %

42 %

Insurance(3)

Revenue

$

89.3

$

72.9

22

%

$

86.6

3

%

Segment profit

$

33.2

$

30.1

10

%

$

32.8

1

%

Segment profit % of revenue

37 %

41 %

38 %

Other(4)

Revenue

$

0.2

$

0.2

- %

$

0.1

100

%

Profit (loss)

$

-

$

0.1

(100) %

$

(0.1)

100

%

Total revenue

$

270.0

$

184.3

47 %

$

272.8

(1)%

Total segment profit

$

105.6

$

88.3

20 %

$

96.3

10 %

Brand marketing expense (5)

$

(7.2)

$

(5.8)

24

%

$

(7.3)

(1) %

Variable marketing margin

$

98.4

$

82.5

19 %

$

89.0

11 %

Variable marketing margin % of revenue

36 %

45 %

33 %

  1. The Home segment includes the following products: purchase mortgage, refinance mortgage, home equity loans and lines of credit, reverse mortgage loans, and real estate.
  2. The Consumer segment includes the following products: credit cards, personal loans, small business loans, student loans, auto loans, deposit accounts, and other credit products such as credit repair and debt settlement.
  3. The Insurance segment consists of insurance quote products.
  4. The Other category primarily includes marketing revenue and related expenses not allocated to a specific segment.
  5. Brand marketing expense represents the portion of selling and marketing expense attributable to variable costs paid for advertising, direct marketing and related expenses that are not assignable to the segments' products. This measure excludes overhead, fixed costs and personnel-related expenses.

Page 4

Financial Outlook

Today we're issuing an outlook for the third quarter 2021. Our assumptions reflect current trends, although we continue to acknowledge the difficulty in forecasting the recovery of our Consumer segment and the effects of volatile interest rate movements in our Home segment.

Our guidance for Q3 assumes the following:

  • We expect Home to remain resilient, generally extending the trends we observed in Q2.
  • In Consumer, we expect the elevated pace of recovery in key products to continue.
  • Top-linegrowth should continue in Insurance, while segment margins continue to contract modestly to the mid-thirties as a percent of revenue.
  • Non-variablecosts are expected to increase materially over Q2 as we added 115 employees in Q2 and continue to add staffing in Q3 to support key initiatives, particularly our Medicare agency.

Q3 2021 Outlook:

  • Revenue: $285 - $298 million
  • Variable Marketing Margin: $99 - $107 million
  • Adjusted EBITDA: $35 - $40 million

LendingTree is not able to provide a reconciliation of projected variable marketing margin or adjusted EBITDA to the most directly comparable expected GAAP results due to the unknown effect, timing and potential significance of the effects of legal matters, tax considerations, and income and expense from changes in fair value of contingent consideration from acquisitions. Expenses associated with legal matters, tax consequences, and income and expense from changes in fair value of contingent consideration from acquisitions have in the past, and may in the future, significantly affect GAAP results in a particular period.

Quarterly Conference Call

A conference call to discuss LendingTree's second quarter 2021 financial results will be webcast live today, July 29, 2021 at 9:00 AM Eastern Time (ET). The live audiocast is open to the public and will be available on LendingTree's investor relations website at investors.lendingtree.com. The call may also be accessed toll-free via phone at (877) 606-1416. Callers outside the United States and Canada may dial (707) 287-9313. Following completion of the call, a recorded replay of the webcast will be available on LendingTree's investor relations website until 12:00 PM ET on Friday, August 6, 2021. To listen to the telephone replay, call toll-free (855) 859-2056 with passcode #1538029. Callers outside the United States and Canada may dial (404) 537-3406 with passcode #1538029.

Page 5

LENDINGTREE, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(Unaudited)

Three Months Ended

Six Months Ended

June 30,

June 30,

2021

2020

2021

2020

(in thousands, except per share amounts)

Revenue

$

270,014

$

184,326

$

542,764

$

467,410

Costs and expenses:

Cost of revenue (exclusive of depreciation and amortization shown

13,934

13,464

27,829

27,716

separately below) (1)

Selling and marketing expense (1)

185,206

113,921

382,668

309,459

General and administrative expense (1)

39,811

28,489

74,800

60,571

Product development (1)

13,290

10,812

25,758

21,775

Depreciation

4,443

3,550

8,161

6,928

Amortization of intangibles

11,310

13,756

22,622

27,513

Change in fair value of contingent consideration

(8,850)

9,175

(8,053)

1,053

Severance

-

32

-

190

Litigation settlements and contingencies

322

(1,325)

338

(996)

Total costs and expenses

259,466

191,874

534,123

454,209

Operating income (loss)

10,548

(7,548)

8,641

13,201

Other (expense) income, net:

Interest expense, net

(9,840)

(4,955)

(20,055)

(9,789)

Other income

-

7

40,072

7

Income (loss) before income taxes

708

(12,496)

28,658

3,419

Income tax benefit

9,092

3,880

454

6,941

Net income (loss) from continuing operations

9,800

(8,616)

29,112

10,360

Loss from discontinued operations, net of tax

(3,199)

(21,141)

(3,462)

(25,716)

Net income (loss) and comprehensive income (loss)

$

6,601

$

(29,757)

$

25,650

$

(15,356)

Weighted average shares outstanding:

Basic

13,243

12,984

13,157

12,971

Diluted

13,719

12,984

13,913

13,954

Income (loss) per share from continuing operations:

Basic

$

0.74

$

(0.66)

$

2.21

$

0.80

Diluted

$

0.71

$

(0.66)

$

2.09

$

0.74

Loss per share from discontinued operations:

Basic

$

(0.24)

$

(1.63)

$

(0.26)

$

(1.98)

Diluted

$

(0.23)

$

(1.63)

$

(0.25)

$

(1.84)

Net income (loss) per share:

Basic

$

0.50

$

(2.29)

$

1.95

$

(1.18)

Diluted

$

0.48

$

(2.29)

$

1.84

$

(1.10)

  1. Amounts include non-cash compensation, as follows:

Cost of revenue

$

463

$

333

$

860

$

575

Selling and marketing expense

1,976

1,597

3,778

2,753

General and administrative expense

13,254

9,729

25,425

18,852

Product development

2,601

1,499

4,667

2,895

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Disclaimer

LendingTree Inc. published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 11:26:28 UTC.