0001434621-23-000007 | 10-Q | XBRL Viewer

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement and Statement of Comprehensive Income [Abstract]
Revenue	$ 200,508	$ 283,178
Costs and expenses:
Cost of revenue (exclusive of depreciation and amortization shown separately below)	13,760	15,561
Selling and marketing expense	137,111	204,157
General and administrative expense	36,683	35,977
Product development	14,655	14,052
Depreciation	4,795	4,854
Amortization of intangibles	2,049	7,917
Restructuring and severance	4,454	3,625
Litigation settlements and contingencies	12	(27)
Total costs and expenses	213,519	286,116
Operating loss	(13,011)	(2,938)
Other income (expense), net:
Interest income (expense), net	25,029	(7,505)
Other income (expense)	1,834	(1)
Income (loss) before income taxes	13,852	(10,444)
Income tax expense	(395)	(382)
Net income (loss) and comprehensive income (loss)	13,457	(10,826)
Comprehensive (loss) income	$ 13,457	$ (10,826)
Weighted average shares outstanding:
Basic (in shares)	12,846	12,901
Diluted (in shares)	12,935	12,901
Net income (loss) per share:
Basic (in dollars per share)	$ 1.05	$ (0.84)
Diluted (in dollars per share)	$ 1.04	$ (0.84)

GOODWILL AND INTANGIBLE ASSETS (Tables)

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Balance of Goodwill, Net and Intangible Assets, Net

The balance of goodwill, net and intangible assets, net is as follows (in thousands):


	March 31, 2023		December 31, 2022
Goodwill	$	903,227	$	903,227
Accumulated impairment losses	(483,088)		(483,088)
Net goodwill	$	420,139	$	420,139

Intangible assets with indefinite lives	$	10,142	$	10,142
Intangible assets with definite lives, net	46,124		48,173
Total intangible assets, net	$	56,266	$	58,315

Schedule of Intangible Assets with Definite Lives

Intangible assets with definite lives relate to the following (in thousands):


	Cost		Accumulated Amortization		Net

Customer lists	77,300		(32,303)		44,997
Trademarks and tradenames	9,100		(7,973)		1,127

Balance at March 31, 2023	$	86,400	$	(40,276)	$	46,124


	Cost		Accumulated Amortization		Net

Customer lists	$	77,300	$	(30,775)	$	46,525
Trademarks and tradenames	10,100		(8,452)		1,648

Balance at December 31, 2022	$	87,400	$	(39,227)	$	48,173

Schedule of Amortization of Intangible Assets with Definite Lives

Amortization of intangible assets with definite lives is computed on a straight-line basis and, based on balances as of March 31, 2023, future amortization is estimated to be as follows (in thousands):


	Amortization Expense
Remainder of current year	$	5,646
Year ending December 31, 2024	5,889
Year ending December 31, 2025	5,830
Year ending December 31, 2026	5,504
Year ending December 31, 2027	5,198
Thereafter	18,057
Total intangible assets with definite lives, net	$	46,124

RESTRUCTURING ACTIVITIES (Tables)

3 Months Ended

Mar. 31, 2023

Restructuring and Related Activities [Abstract]

Schedule of Rollforward of Accrued Balance for Restructuring Activities


	Accrued Balance at December 31, 2022		Income Statement Impact		Payments		Non-Cash		Accrued Balance at March 31, 2023
2023 action
Employee separation payments	$	—	$	4,260	$	—	$	—	$	4,260
Non-cash compensation	—		71		—		(71)		—
2022 action
Employee separation payments	304		25		$	(237)	—		92
	$	304	$	4,356	$	(237)	$	(71)	$	4,352

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($)	Jun. 30, 2022	Mar. 31, 2023	Dec. 31, 2022
Intangible assets with definite lives
Goodwill		$ 903,227,000	$ 903,227,000
Goodwill impairment	$ 0
Home
Intangible assets with definite lives
Goodwill		59,300,000	59,300,000
Total Consumer
Intangible assets with definite lives
Goodwill		166,100,000	166,100,000
Insurance
Intangible assets with definite lives
Goodwill		$ 194,700,000	$ 194,700,000

GOODWILL AND INTANGIBLE ASSETS - Schedule of Balance of Goodwill, Net and Intangible Assets, Net (Details ) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 903,227	$ 903,227
Accumulated impairment losses	(483,088)	(483,088)
Net goodwill	420,139	420,139
Intangible assets with indefinite lives	10,142	10,142
Intangible assets with definite lives, net	46,124	48,173
Total intangible assets, net	$ 56,266	$ 58,315

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2023	Apr. 26, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-34063
Entity Registrant Name	LendingTree, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-2414818
Entity Address, Address Line One	1415 Vantage Park Dr.
Entity Address, Address Line Two	Suite 700
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28203
City Area Code	704
Local Phone Number	541-5351
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	TREE
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		12,910,742
Entity Central Index Key	0001434621
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for credit loss	$ 2,688	$ 2,317
Accumulated depreciation	$ 34,925	$ 33,851
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	16,265,177	16,167,184
Common stock, shares outstanding	12,909,711	12,811,718
Treasury stock, shares	3,355,466	3,355,466

STOCK-BASED COMPENSATION - Employee Stock Purchase Plan (Details) - Employee Stock - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares)	226,813		262,731
Purchase price of common stock, percent	85.00%
Offering period (in months)	6 months
Purchase period (in months)	6 months
Shares issued under ESPP (in shares)	0
Grant date fair value (in dollars per share)	$ 8.19	$ 35.43
Expected term (in years)	6 months	6 months
Expected dividend	0.00%	0.00%
Expected volatility	82.00%	49.00%
Risk-free interest rate	4.76%	0.19%
Expected dividends	$ 0

ASSETS AND LIABILITIES HELD FOR SALE (Tables)

3 Months Ended

Mar. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Assets and Liabilities Classified As Held For Sale

The following table presents information related to the major classes of assets and liabilities that were classified as held for sale (in thousands):


	December 31, 2022
Accounts receivable, net of allowance	$	1,353
Prepaid and other current assets	79
Property and equipment, net of accumulated depreciation of $1,102	1,665
Operating lease right-of-use assets	436
Intangible assets, net of accumulated amortization of $3,857	2,143
Other non-current assets	13
Total assets held for sale	$	5,689

Accounts payable, trade	$	253
Accrued expenses and other current liabilities	2,551
Operating lease liabilities	105
Total liabilities held for sale	$	2,909

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

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+ Details

STOCK-BASED COMPENSATION - Summary of Stock Options and Stock Options with Market Conditions (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) $ / shares shares
Stock options, Grant Date Fair Value Valuation
Share price (in dollars per share) \| $ / shares	$ 26.66
Option
Stock options, Shares
Outstanding at the beginning of the period (in shares)	805,079
Granted (in shares)	0
Exercised (in shares)	0
Forfeited (in shares)	0
Expired (in shares)	(34,313)
Outstanding at the end of the period (in shares)	770,766
Options exercisable at the end of the period (in shares)	553,965
Stock options, Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share) \| $ / shares	$ 155.10
Granted (in dollars per share) \| $ / shares	0
Exercised (in dollars per share) \| $ / shares	0
Forfeited (in dollars per share) \| $ / shares	0
Expired (in dollars per share) \| $ / shares	239.93
Outstanding at the end of the period (in dollars per share) \| $ / shares	151.32
Options exercisable at the end of the period (in dollars per share) \| $ / shares	$ 134.08
Stock options, Weighted Average Remaining Contractual Term
Options outstanding at the end of the period (in years)	5 years 1 month 20 days
Options exercisable at the end of the period (in years)	3 years 11 months 1 day
Stock options, Aggregate Intrinsic Value
Outstanding at the end of the period \| $	$ 171
Options exercisable at the end of the period \| $	$ 171
Market options
Stock options, Shares
Outstanding at the beginning of the period (in shares)	734,685
Granted (in shares)	0
Exercised (in shares)	0
Forfeited (in shares)	0
Expired (in shares)	(16,247)
Outstanding at the end of the period (in shares)	718,438
Options exercisable at the end of the period (in shares)	481,669
Stock options, Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share) \| $ / shares	$ 230.79
Granted (in dollars per share) \| $ / shares	0
Exercised (in dollars per share) \| $ / shares	0
Forfeited (in dollars per share) \| $ / shares	0
Expired (in dollars per share) \| $ / shares	308.96
Outstanding at the end of the period (in dollars per share) \| $ / shares	229.02
Options exercisable at the end of the period (in dollars per share) \| $ / shares	$ 195.10
Stock options, Weighted Average Remaining Contractual Term
Options outstanding at the end of the period (in years)	5 years 5 months 4 days
Options exercisable at the end of the period (in years)	4 years 4 months 6 days
Stock options, Aggregate Intrinsic Value
Outstanding at the end of the period \| $	$ 0
Options exercisable at the end of the period \| $	$ 0
Stock options, Grant Date Fair Value Valuation
Maximum number of shared to be earned	395,404
Percentage of target number of shares	167.00%
Performance awards earned (in shares)	0

REVENUE - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
REVENUE - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Contract asset	$ 13.4		$ 12.2
Contract liability	1.0		$ 0.9
Revenue recognized from prior period	0.8	$ 0.7
Estimated variable consideration, increase in revenue	$ 0.2	$ 0.2

SEGMENT INFORMATION (Details) $ in Thousands	3 Months Ended
SEGMENT INFORMATION (Details) $ in Thousands	Mar. 31, 2023 USD ($) segment	Mar. 31, 2022 USD ($)
Segment Information
Number of operating segments \| segment	3
Number of reportable segments \| segment	3
Revenue	$ 200,508	$ 283,178
Segment marketing expense	120,551	183,714
Segment profit (loss)	79,957	99,464
Cost of revenue	13,760	15,561
Brand and other marketing expense	16,560	20,443
General and administrative expense	36,683	35,977
Product development	14,655	14,052
Depreciation	4,795	4,854
Amortization of intangibles	2,049	7,917
Restructuring and severance	4,454	3,625
Litigation settlements and contingencies	12	(27)
Operating loss	(13,011)	(2,938)
Interest income (expense), net	25,029	(7,505)
Other income	1,834	(1)
Income (loss) before income taxes	13,852	(10,444)
Home
Segment Information
Revenue	43,675	101,944
Segment marketing expense	28,567	66,035
Segment profit (loss)	15,108	35,909
Consumer
Segment Information
Revenue	79,709	101,068
Segment marketing expense	44,833	58,561
Segment profit (loss)	34,876	42,507
Insurance
Segment Information
Revenue	77,082	80,038
Segment marketing expense	46,930	58,935
Segment profit (loss)	30,152	21,103
Other
Segment Information
Revenue	42	128
Segment marketing expense	221	183
Segment profit (loss)	$ (179)	$ (55)

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

3 Months Ended

Mar. 31, 2023

Payables and Accruals [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consist of the following (in thousands):


	March 31, 2023		December 31, 2022
Accrued advertising expense	$	44,222	$	37,703
Accrued compensation and benefits	9,398		11,444
Accrued professional fees	1,539		1,393
Customer deposits and escrows	7,253		7,273
Contribution to LendingTree Foundation	—		500
Current lease liabilities	8,901		8,513
Accrued restructuring and severance	4,446		304
Other	9,070		7,965
Total accrued expenses and other current liabilities	$	84,829	$	75,095

See Note 7—Assets and Liabilities Held for Sale for accrued expenses and other current liabilities classified as held for sale.

DEBT - Components of Notes (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Net carrying amount	$ 625,356	$ 813,516
2025 Convertible Notes
Debt Instrument [Line Items]
Gross carrying amount	384,398	575,000
Debt issuance costs	4,667	7,734
Net carrying amount	$ 379,731	$ 567,266

RESTRUCTURING ACTIVITIES (Details) $ in Thousands		3 Months Ended					15 Months Ended
RESTRUCTURING ACTIVITIES (Details) $ in Thousands	Mar. 24, 2023 USD ($) employee	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) employee	Jun. 30, 2022 employee	Mar. 31, 2022 USD ($) employee	Jun. 30, 2024
Restructuring Cost and Reserve [Line Items]
Total restructuring charges			$ 4,454			$ 3,625
Restructuring Reserve [Roll Forward]
Income Statement Impact			4,454			3,625
2022 And 2023 Reduction Action
Restructuring Cost and Reserve [Line Items]
Total restructuring charges			4,356
Non-cash compensation due to accelerated vesting of equity awards			71
Restructuring Reserve [Roll Forward]
Accrued Balance at beginning of period		$ 4,352	304
Income Statement Impact			4,356
Payments			(237)
Non-Cash			(71)
Accrued Balance at end of period			4,352	$ 304
2023 action
Restructuring Cost and Reserve [Line Items]
Number of employee positions estimated to be eliminated in workforce reduction \| employee	158
Expected costs to be incurred due to reduction	$ 5,600
Total restructuring charges			4,300
Restructuring Reserve [Roll Forward]
Income Statement Impact			4,300
2023 action \| Forecast
Restructuring Cost and Reserve [Line Items]
Percentage of workforce eliminated							13.00%
Total restructuring charges		1,300
Restructuring Reserve [Roll Forward]
Income Statement Impact		1,300
2022 action
Restructuring Cost and Reserve [Line Items]
Total restructuring charges						$ 3,600
Number of employees eliminated in workforce reduction \| employee				50	25	75
Separation costs						$ 2,500
Non-cash compensation due to accelerated vesting of equity awards						1,100
Restructuring Reserve [Roll Forward]
Income Statement Impact						3,600
Non-Cash						$ (1,100)
Employee separation payments \| 2023 action
Restructuring Cost and Reserve [Line Items]
Expected costs to be incurred due to reduction	4,600
Total restructuring charges			4,260
Non-cash compensation due to accelerated vesting of equity awards			0
Restructuring Reserve [Roll Forward]
Accrued Balance at beginning of period		4,260	0
Income Statement Impact			4,260
Payments			0
Non-Cash			0
Accrued Balance at end of period			4,260	$ 0
Employee separation payments \| 2022 action
Restructuring Cost and Reserve [Line Items]
Total restructuring charges			25
Non-cash compensation due to accelerated vesting of equity awards			0
Restructuring Reserve [Roll Forward]
Accrued Balance at beginning of period		92	304
Income Statement Impact			25
Payments			(237)
Non-Cash			0
Accrued Balance at end of period			92	304
Non-cash compensation \| 2023 action
Restructuring Cost and Reserve [Line Items]
Expected costs to be incurred due to reduction	$ 1,000
Total restructuring charges			71
Non-cash compensation due to accelerated vesting of equity awards			71
Restructuring Reserve [Roll Forward]
Accrued Balance at beginning of period		$ 0	0
Income Statement Impact			71
Payments			0
Non-Cash			(71)
Accrued Balance at end of period			$ 0	$ 0

SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Mar. 31, 2023
Accounting Policies [Abstract]
Accounting Estimates	Accounting Estimates Management is required to make certain estimates and assumptions during the preparation of the consolidated financial statements in accordance with GAAP. These estimates and assumptions impact the reported amount of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements. They also impact the reported amount of net earnings during any period. Actual results could differ from those estimates. Significant estimates underlying the accompanying consolidated financial statements include: the recoverability of long-lived assets, goodwill and intangible assets; the determination of income taxes payable and deferred income taxes, including related valuation allowances; fair value of assets acquired in a business combination; litigation accruals; contract assets; various other allowances, reserves and accruals; assumptions related to the determination of stock-based compensation; and the determination of right-of-use assets and lease liabilities. The Company considered the impact of the current economic conditions, including interest rates, inflation, and the COVID-19 pandemic on the assumptions and estimates used when preparing its consolidated financial statements including, but not limited to, the allowance for doubtful accounts, valuation allowances, contract asset, and the recoverability of long-lived assets, goodwill and intangible assets. These assumptions and estimates may change as new events occur and additional information is obtained. If economic conditions worsen, such future changes may have an adverse impact on the Company's results of operations, financial position and liquidity.
Certain Risks and Concentrations	Certain Risks and Concentrations LendingTree's business is subject to certain risks and concentrations including dependence on third-party technology providers, exposure to risks associated with online commerce security and credit card fraud. Financial instruments, which potentially subject the Company to concentration of credit risk at March 31, 2023, consist primarily of cash and cash equivalents and accounts receivable, as disclosed in the consolidated balance sheet. Cash and cash equivalents are in excess of Federal Deposit Insurance Corporation insurance limits, but are maintained with quality financial institutions of high credit. The Company requires certain Network Partners to maintain security deposits with the Company, which in the event of non-payment, would be applied against any accounts receivable outstanding. Due to the nature of the mortgage lending industry, interest rate fluctuations may negatively impact future revenue from the Company's marketplace. Lenders and lead purchasers participating on the Company's marketplace can offer their products directly to consumers through brokers, mass marketing campaigns or through other traditional methods of credit distribution. These lenders and lead purchasers can also offer their products online, either directly to prospective borrowers, through one or more online competitors, or both. If a significant number of potential consumers are able to obtain loans and other products from Network Partners without utilizing the Company's services, the Company's ability to generate revenue may be limited. Because the Company does not have exclusive relationships with the Network Partners whose loans and other financial products are offered on its online marketplace, consumers may obtain offers from these Network Partners without using its service. Other than a support services office in India, the Company's operations are geographically limited to and dependent upon the economic condition of the United States.
Litigation Settlements and Contingencies	Litigation Settlements and Contingencies Litigation settlements and contingencies consists of expenses related to actual or anticipated litigation settlements.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, which simplifies the accounting for convertible instruments, amends the derivatives scope exception guidance for contracts in an entity’s own equity, and amends the related earnings-per-share guidance. Under the new guidance, the embedded conversion features are no longer separated from the host contract for convertible instruments with conversion features that are not required to be accounted for as derivatives under Topic 815, or that do not result in substantial premiums accounted for as paid-in capital. As a result, a convertible debt instrument will be accounted for as a single liability measured at its amortized cost, as long as no other features require bifurcation and recognition as derivatives. Additionally, the new guidance requires the if-converted method to be applied for all convertible instruments when calculating diluted earnings per share. The Company adopted ASU 2020-06 on January 1, 2022 using the modified retrospective transition approach and recognized the cumulative effect of initially applying ASU 2020-06 as a $44.4 million adjustment to the opening balance of accumulated deficit, comprised of $60.8 million for the interest adjustment, net of $16.4 million for the related tax impacts. The recombination of the equity conversion component of our convertible debt remaining outstanding caused a reduction in additional paid-in capital and an increase in deferred income tax assets. The removal of the remaining debt discounts recorded for this previous separation had the effect of increasing our net debt balance. ASU 2020-06 also requires the dilutive impact of convertible debt instruments to utilize the if-converted method when calculating diluted earnings per share and the result is more dilutive. The adoption of ASU 2020-06 did not impact our cash flows or compliance with debt covenants. Recently Issued Accounting Pronouncements The Company has considered the applicability of recently issued accounting pronouncements by the Financial Accounting Standards Board and have determined that they are either not applicable or are not expected to have a material impact on our consolidated financial statements.

RESTRUCTURING ACTIVITIES

3 Months Ended

Mar. 31, 2023

Restructuring and Related Activities [Abstract]

RESTRUCTURING ACTIVITIES

On March 24, 2023, the Company committed to a workforce reduction plan (the “Reduction Plan”), that is intended to reduce operating costs. The Reduction Plan includes the elimination of approximately 158 employees, or 13%, of the Company’s current workforce. As a result of the Reduction Plan, the Company estimates that it will incur approximately $5.6 million in severance charges in connection with the workforce reduction, consisting of cash expenditures for employee separation costs of approximately $4.6 million and non-cash charges for the accelerated vesting of certain equity awards of approximately $1.0 million.

The Company incurred restructuring expense of $4.3 million in the first quarter of 2023 and expects to incur an additional $1.3 million of restructuring expense in the second quarter of 2023 related to the Reduction Plan. The Reduction Plan, including cash payments, is expected to be completed by the end of the second quarter of 2024.

During 2022, the Company completed workforce reductions in each of the first, second, and fourth quarters of approximately 75 employees, 25 employees, and 50 employees, respectively. In the first quarter of 2022, the Company incurred total expense of $3.6 million consisting of employee separation costs of $2.5 million and non-cash compensation expense of $1.1 million due to the accelerated vesting of certain equity awards. All employee separation costs for 2022 actions are expected to be paid by the third quarter of 2023.


	Accrued Balance at December 31, 2022		Income Statement Impact		Payments		Non-Cash		Accrued Balance at March 31, 2023
2023 action
Employee separation payments	$	—	$	4,260	$	—	$	—	$	4,260
Non-cash compensation	—		71		—		(71)		—
2022 action
Employee separation payments	304		25		$	(237)	—		92
	$	304	$	4,356	$	(237)	$	(71)	$	4,352

ALLOWANCE FOR DOUBTFUL ACCOUNTS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of the period	$ 2,317	$ 1,456
Charges to earnings	963	850
Write-off of uncollectible accounts receivable	(963)	(503)
Recoveries collected	0	0
Assets held for sale (Note 7)	371	0
Balance, end of the period	$ 2,688	$ 1,803

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Federal statutory income tax rate	21.00%	21.00%
Excess tax expense on stock compensation	$ 0	$ 2,468

STOCK-BASED COMPENSATION

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

Non-cash compensation related to equity awards is included in the following line items in the accompanying consolidated statements of operations and comprehensive income (in thousands):


	Three Months Ended March 31,
	2023		2022
Cost of revenue	$	214	$	393
Selling and marketing expense	1,744		2,039
General and administrative expense	7,343		9,600
Product development	1,902		1,965
Restructuring and severance	71		1,083
Total non-cash compensation	$	11,274	$	15,080

Stock Options

A summary of changes in outstanding stock options is as follows:


	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value(a)
		(per option)		(in years)	(in thousands)
Options outstanding at January 1, 2023	805,079	$	155.10
Granted	—	—
Exercised	—	—
Forfeited	—	—
Expired	(34,313)	239.93
Options outstanding at March 31, 2023	770,766	151.32		5.14	$	171
Options exercisable at March 31, 2023	553,965	$	134.08	3.92	$	171

(a)The aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Company's closing stock price of $26.66 on the last trading day of the quarter ended March 31, 2023 and the exercise price, multiplied by the number of shares covered by in-the-money options) that would have been received by the option holder had the option holder exercised these options on March 31, 2023. The intrinsic value changes based on the market value of the Company's common stock.

Stock Options with Market Conditions

A summary of changes in outstanding stock options with market conditions at target is as follows:


	Number of Options with Market Conditions	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value(a)
		(per option)		(in years)	(in thousands)
Options outstanding at January 1, 2023	734,685	$	230.79
Granted	—	—
Exercised	—	—
Forfeited	—	—
Expired	(16,247)	308.96
Options outstanding at March 31, 2023	718,438	229.02		5.43	$	—
Options exercisable at March 31, 2023	481,669	$	195.10	4.35	$	—

As of March 31, 2023, a maximum of 395,404 shares may be earned for achieving superior performance up to 167% of the remaining unvested target number of shares. As of March 31, 2023, no additional performance-based nonqualified stock options with a market condition had been earned.

Restricted Stock Units

A summary of changes in outstanding nonvested restricted stock units (“RSUs”) is as follows:


	RSUs
	Number of Units	Weighted Average Grant Date Fair Value
		(per unit)
Nonvested at January 1, 2023	485,053	$	127.46
Granted	349,399	33.00
Vested	(150,097)	155.46
Forfeited	(11,427)	95.25
Nonvested at March 31, 2023	672,928	$	72.68

Restricted Stock Units with Performance Conditions

A summary of changes in outstanding nonvested RSUs with performance conditions is as follows:


	RSUs with Performance Conditions
	Number of Units	Weighted Average Grant Date Fair Value
		(per unit)
Nonvested at January 1, 2023	16,000	$	83.25
Granted	—	—
Vested	—	—
Forfeited	(16,000)	83.25
Nonvested at March 31, 2023	—	$	—

Employee Stock Purchase Plan

In 2021, the Company implemented an employee stock purchase plan (“ESPP”), under which a total of 262,731 shares of the Company's common stock were reserved for issuance. As of March 31, 2023, 226,813 shares of common stock were available for issuance under the ESPP. The ESPP is a tax-qualified plan under Section 423 of the Internal Revenue Code. Under the terms of the ESPP, eligible employees are granted options to purchase shares of the Company's common stock at 85% of the lesser of (1) the fair market value at time of grant or (2) the fair market value at time of exercise. The offering periods and purchase periods are typically six-month periods ending on June 30 and December 31 of each year. No shares were issued under the ESPP during the three months ended March 31, 2023.

During the three months ended March 31, 2023 and 2022, the Company granted employee stock purchase rights to certain employees with a grant date fair value per share of $8.19 and $35.43, respectively, calculated using the Black-Scholes option pricing model. For purposes of determining stock-based compensation expense, the grant date fair value per share estimated using the Black-Scholes option pricing model required the use of the following key assumptions:


	Three Months Ended March 31,
	2023		2022
Expected term (1)	0.50 years		0.50 years
Expected dividend (2)	—		—
Expected volatility (3)	82	%	49%
Risk-free interest rate (4)	4.76	%	0.19%

(1)The expected term was calculated using the time period between the grant date and the purchase date.

(2)No dividends are expected to be paid, resulting in a zero expected dividend rate.

(3)The expected volatility rate is based on the historical volatility of the Company's common stock.

(4)The risk-free interest rate is specific to the date of grant. The risk-free interest rate is based on U.S. Treasury yields for notes with comparable expected terms as the employee stock purchase rights, in effect at the grant date.

SHAREHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

SHAREHOLDERS' EQUITY

Basic and diluted income per share was determined based on the following share data (in thousands):


	Three Months Ended March 31,
	2023	2022






Weighted average basic common shares	12,846	12,901
Effect of stock options	54	—
Effect of dilutive share awards	35	—

Weighted average diluted common shares	12,935	12,901

For the first quarter of 2023, the weighted average shares that were anti-dilutive, and therefore excluded from the calculation of diluted income per share, included options to purchase 1.0 million shares of common stock and 0.4 million restricted stock units.

For the first quarter of 2022, the Company was in a net loss position and, as a result, no potentially dilutive securities were included in the denominator for computing diluted loss per share, because the impact would have been anti-dilutive. Accordingly, the weighted average basic shares outstanding was used to compute loss per share. Approximately 0.3 million shares related to potentially dilutive securities were excluded from the calculation of diluted loss per share for the first quarter of 2022 because their inclusion would have been anti-dilutive. For the first quarter of 2022, the weighted average shares that were anti-dilutive, and therefore excluded from the calculation of diluted income per share, included options to purchase 0.9 million shares of common stock and 0.2 million restricted stock units.

The convertible notes and the warrants issued by the Company could be converted into the Company’s common stock, subject to certain contingencies. See Note 12—Debt for additional information. On January 1, 2022, the Company adopted ASU 2020-06 using the modified retrospective method. Following the adoption, the if-converted method is used for diluted net income per share calculation of our convertible notes. Prior to the adoption of ASU 2020-06 the dilutive impact of the convertible notes was calculated using the treasury stock method. See Note 2—Significant Accounting Policies for additional information.

Approximately 1.2 million shares related to the potentially dilutive shares of the Company's common stock associated with the 0.50% Convertible Senior Notes due July 15, 2025 were excluded from the calculation of diluted loss per share for the first quarter of 2023 because their inclusion would have been anti-dilutive. Approximately 2.1 million shares related to the potentially dilutive shares of the Company's common stock associated with the 0.50% Convertible Senior Notes due July 15, 2025 and the 0.625% Convertible Senior Notes due June 1, 2022 were excluded from the calculation of diluted loss per share for the first quarter of 2022 because their inclusion would have been anti-dilutive. Shares of the Company's stock associated

with the warrants issued by the Company in 2020 were excluded from the calculation of diluted loss per share for the first quarter of 2023, and shares of the Company's stock associated with the warrants issued by the Company in 2017 and 2020 were excluded from the calculation of diluted loss per share for the first quarter of 2022 as they were anti-dilutive since the strike price of the warrants was greater than the average market price of the Company's common stock during the relevant periods.

Common Stock Repurchases

In each of February 2018 and February 2019, the board of directors authorized and the Company announced the repurchase of up to $100.0 million and $150.0 million, respectively, of LendingTree's common stock. During the first quarter of 2023, the Company did not purchase shares of its common stock. During the first quarter of 2022, the Company purchased 379,895 shares of its common stock pursuant to this stock repurchase program. At March 31, 2023, approximately $96.7 million of the previous authorizations to repurchase common stock remain available.

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Parenthetical)	Mar. 31, 2023 Rate
2025 Convertible Notes
Stated interest rate	0.50%

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2023

Payables and Accruals [Abstract]

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following (in thousands):


	March 31, 2023		December 31, 2022
Accrued advertising expense	$	44,222	$	37,703
Accrued compensation and benefits	9,398		11,444
Accrued professional fees	1,539		1,393
Customer deposits and escrows	7,253		7,273
Contribution to LendingTree Foundation	—		500
Current lease liabilities	8,901		8,513
Accrued restructuring and severance	4,446		304
Other	9,070		7,965
Total accrued expenses and other current liabilities	$	84,829	$	75,095

DEBT - Convertible Note Hedge and Warrant Transactions (Details) - $ / shares shares in Millions	Mar. 31, 2023	Jul. 24, 2020	Jul. 21, 2020
Debt Instrument [Line Items]
Share price (in dollars per share)	$ 26.66
2020 Hedge and Warrants
Debt Instrument [Line Items]
Number of shares covered by the hedge transactions	0.8	1.2
Initial conversion price per share (in dollars per share)		$ 461.19
Strike price of warrants sold (in dollars per share)		$ 709.52
Premium of warrant strike price over sales price of common stock		100.00%
Share price (in dollars per share)			$ 354.76
Warrants outstanding (in shares)	0.8

INCOME TAXES (Tables)

3 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income Tax (Expense) Benefit and Effective Tax Rate


	Three Months Ended March 31,
	2023			2022
	(in thousands, except percentages)
Income tax expense	$	(395)		$	(382)
Effective tax rate	2.9		%	(3.7)		%

Reconciliation of Income Tax (Expense) Benefit


	Three Months Ended March 31,
	2023		2022
	(in thousands)
Income tax benefit - excluding excess tax expense on stock compensation	$	(395)	$	2,086

Excess tax expense on stock compensation	—		(2,468)

Income tax expense	$	(395)	$	(382)

SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information by Segment

The following tables are a reconciliation of segment profit, which is the Company's primary segment profitability measure, to income before income taxes. Segment marketing expense represents the portion of selling and marketing expense attributable to variable costs paid for advertising, direct marketing and related expenses, that are directly attributable to the segments' products. This measure excludes overhead, fixed costs and personnel-related expenses.


	Three Months Ended March 31, 2023
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	43,675	$	79,709	$	77,082	$	42	$	200,508
Segment marketing expense	28,567		44,833		46,930		221		120,551
Segment profit (loss)	15,108		34,876		30,152		(179)		79,957
Cost of revenue									13,760
Brand and other marketing expense									16,560
General and administrative expense									36,683
Product development									14,655
Depreciation									4,795
Amortization of intangibles									2,049

Restructuring and severance									4,454
Litigation settlements and contingencies									12
Operating loss									(13,011)
Interest income, net									25,029
Other income									1,834
Income before income taxes									$	13,852


	Three Months Ended March 31, 2022
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	101,944	$	101,068	$	80,038	$	128	$	283,178
Segment marketing expense	66,035		58,561		58,935		183		183,714
Segment profit (loss)	35,909		42,507		21,103		(55)		99,464
Cost of revenue									15,561
Brand and other marketing expense									20,443
General and administrative expense									35,977
Product development									14,052
Depreciation									4,854
Amortization of intangibles									7,917

Restructuring and severance									3,625
Litigation settlements and contingencies									(27)
Operating loss									(2,938)
Interest expense, net									(7,505)
Other income									(1)
Loss before income taxes									$	(10,444)

REVENUE

3 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

REVENUE

Revenue is as follows (in thousands):


	Three Months Ended March 31,
	2023		2022
Home	$	43,675	$	101,944
Credit cards	18,288		29,822
Personal loans	23,599		35,210
Other Consumer	37,822		36,036
Total Consumer	79,709		101,068
Insurance	77,082		80,038
Other	42		128
Total revenue	$	200,508	$	283,178

The Company derives its revenue primarily from match fees and closing fees. Revenue is recognized when performance obligations under the terms of a contract with a customer are satisfied and promised services have transferred to the customer. The Company's services are generally transferred to the customer at a point in time.

Revenue from Home products is primarily generated from upfront match fees paid by mortgage Network Partners that receive a loan request, and in some cases upfront fees for clicks or call transfers. Match fees and upfront fees for clicks and call transfers are earned through the delivery of loan requests that originated through the Company's websites or affiliates. The Company recognizes revenue at the time a loan request is delivered to the customer, provided that no significant obligations remain. The Company's contractual right to the match fee consideration is contemporaneous with the satisfaction of the performance obligation to deliver a loan request to the customer.

Revenue from Consumer products is generated by match and other upfront fees for clicks or call transfers, as well as from closing fees, approval fees and upfront service and subscription fees. Closing fees are derived from lenders on certain auto loans, business loans, personal loans, and student loans when the lender funds a loan with the consumer. Approval fees are derived from credit card issuers when the credit card consumer receives card approval from the credit card issuer. Upfront service fees and subscription fees are derived from consumers in the Company's credit services product. Upfront fees paid by consumers are recognized as revenue over the estimated time the consumer will remain a customer and receive services. Subscription fees are recognized over the period a consumer is receiving services.

The Company recognizes revenue on closing fees and approval fees at the point when a loan request or a credit card consumer is delivered to the customer. The Company's contractual right to closing fees and approval fees is not contemporaneous with the satisfaction of the performance obligation to deliver a loan request or a credit card consumer to the customer. As such, the Company records a contract asset at each reporting period-end related to the estimated variable consideration on closing fees and approval fees for which the Company has satisfied the related performance obligation but are still pending the loan closing or credit card approval before the Company has a contractual right to payment. This estimate is based on the Company's historical closing rates and historical time between when a consumer request for a loan or credit card is delivered to the lender or card issuer and when the loan is closed by the lender or approved by the card issuer.

Revenue from the Company's Insurance products is primarily generated from upfront match fees and upfront fees for website clicks or fees for calls. Match fees and upfront fees for clicks and call transfers are earned through the delivery of consumer requests that originated through the Company's websites or affiliates. The Company recognizes revenue at the time a consumer request is delivered to the customer, provided that no significant obligations remain. The Company's contractual right to the match fee consideration is contemporaneous with the satisfaction of the performance obligation to deliver a consumer request to the customer.

The contract asset recorded within prepaid and other current assets on the consolidated balance sheets related to estimated variable consideration was $13.4 million and $12.2 million at March 31, 2023 and December 31, 2022, respectively.

The contract liability recorded within accrued expenses and other current liabilities on the consolidated balance sheets related to upfront fees paid by consumers was $1.0 million and $0.9 million at March 31, 2023 and December 31, 2022,

respectively. During the first three months of 2023, the Company recognized revenue of $0.8 million that was included in the contract liability balance at December 31, 2022. During the first three months of 2022, the Company recognized revenue of $0.7 million that was included in the contract liability balance at December 31, 2021.

Revenue recognized in any reporting period includes estimated variable consideration for which the Company has satisfied the related performance obligations but are still pending the occurrence or non-occurrence of a future event outside the Company's control (such as lenders providing loans to consumers or credit card approvals of consumers) before the Company has a contractual right to payment. The Company recognized increases to such revenue from prior periods. This increase was $0.2 million in the first quarter of 2023, and $0.2 million in the first quarter of 2022.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

SHAREHOLDERS' EQUITY (Details) - USD ($) $ in Millions	3 Months Ended
SHAREHOLDERS' EQUITY (Details) - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022	Jul. 24, 2020	Feb. 28, 2019	Feb. 28, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average basic common shares (in shares)	12,846,000	12,901,000
Effect of stock options (in shares)	54,000	0
Effect of dilutive share awards (in shares)	35,000	0
Weighted average diluted common shares (in shares)	12,935,000	12,901,000
Additional disclosure
Antidilutive securities excluded from computation of earnings per share (in shares)		300,000
Common stock repurchases
Value of common stock authorized to be repurchased				$ 150.0	$ 100.0
Purchased shares of common stock under stock repurchase program (in shares)	0	379,895
Remaining authorized repurchase amount	$ 96.7
2025 Convertible Notes
Additional disclosure
Stated interest rate	0.50%
2025 Convertible Notes \| Convertible Debt
Additional disclosure
Stated interest rate	0.50%		0.50%
2022 Convertible Notes \| Convertible Debt
Additional disclosure
Stated interest rate	0.625%
Option
Additional disclosure
Antidilutive securities excluded from computation of earnings per share (in shares)	1,000,000	900,000
Restricted Stock Units (RSUs)
Additional disclosure
Antidilutive securities excluded from computation of earnings per share (in shares)	400,000	200,000
Convertible Debt
Additional disclosure
Antidilutive securities excluded from computation of earnings per share (in shares)	1,200,000	2,100,000

INCOME TAXES - Summary of Income Tax Expense and Effective Tax Rate (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income tax expense	$ (395)	$ (382)
Effective tax rate	2.90%	(3.70%)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

ASSETS AND LIABILITIES HELD FOR SALE - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Discontinued Operations and Disposal Groups [Abstract]
Asset impairment charges	$ 4.2
Intangible asset impairment charges	2.1
Property and equipment impairment charges	1.7
Operating lease right-of-use asset impairment charges	$ 0.4

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Additional Paid-in Capital Cumulative Effect, Period of Adoption, Adjustment	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Treasury Stock
Increase (Decrease) in Stockholders' Equity
Beginning balance, treasury (in shares)								2,976,000
Beginning balance at Dec. 31, 2021	$ 447,992	$ (65,303)	$ 161	$ 1,242,794	$ (109,750)	$ (571,794)	$ 44,447	$ (223,169)
Beginning balance, common (in shares) at Dec. 31, 2021			16,071,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(10,826)					(10,826)
Comprehensive income (loss)	(10,826)					(10,826)
Non-cash compensation	15,080			15,080
Purchase of treasury stock	$ (43,009)							$ (43,009)
Purchase of treasury stock (in shares)	379,895							379,000
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	$ (3,086)			(3,086)
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes and cancellations (in shares)			49,000
Ending balance at Mar. 31, 2022	340,848		$ 161	1,145,038		(538,173)		$ (266,178)
Ending balance, common (in shares) at Mar. 31, 2022			16,120,000
Ending balance, treasury (in shares) at Mar. 31, 2022								3,355,000
Increase (Decrease) in Stockholders' Equity
Beginning balance, treasury (in shares)								3,355,000
Beginning balance, treasury (in shares)								3,355,000
Beginning balance at Dec. 31, 2022	$ 207,940		$ 162	1,189,255		(715,299)		$ (266,178)
Beginning balance, common (in shares) at Dec. 31, 2022	12,811,718		16,167,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)	$ 13,457					13,457
Comprehensive income (loss)	13,457					13,457
Non-cash compensation	$ 11,274			11,274
Purchase of treasury stock (in shares)	0
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	$ (1,693)		$ 1	(1,694)
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes and cancellations (in shares)			98,000
Other	1			1
Ending balance at Mar. 31, 2023	$ 230,979		$ 163	$ 1,198,836		$ (701,842)		$ (266,178)
Ending balance, common (in shares) at Mar. 31, 2023	12,909,711		16,265,000
Ending balance, treasury (in shares) at Mar. 31, 2023								3,355,000
Increase (Decrease) in Stockholders' Equity
Beginning balance, treasury (in shares)								3,355,000

FAIR VALUE MEASUREMENTS	3 Months Ended
FAIR VALUE MEASUREMENTS	Mar. 31, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTSOther than the convertible notes and warrants, as well as the equity interests, the carrying amounts of the Company's financial instruments are equal to fair value at March 31, 2023. See Note 12—Debt for additional information on the convertible notes and warrants

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

The balance of goodwill, net and intangible assets, net is as follows (in thousands):


	March 31, 2023		December 31, 2022
Goodwill	$	903,227	$	903,227
Accumulated impairment losses	(483,088)		(483,088)
Net goodwill	$	420,139	$	420,139

Intangible assets with indefinite lives	$	10,142	$	10,142
Intangible assets with definite lives, net	46,124		48,173
Total intangible assets, net	$	56,266	$	58,315

Goodwill and Indefinite-Lived Intangible Assets

The Company's goodwill at each of March 31, 2023 and December 31, 2022 consists of $59.3 million associated with the Home segment, $166.1 million associated with the Consumer segment, and $194.7 million associated with the Insurance segment.

At June 30, 2022, the Company assessed the qualitative factors in its impairment testing of goodwill and determined that the effects of the challenging interest rate environment, consumer price inflation, and the decline in the Company's market capitalization required a quantitative impairment test be performed. The quantitative goodwill impairment test found that the fair value of each reporting unit exceeded its carrying amount, indicating no goodwill impairment. The Company will monitor the recovery of the Insurance reporting unit and the Mortgage reporting unit. The property and casualty auto industry is experiencing challenges caused by inflation, supply chain challenges, and rising severity and frequency of claims. Additionally, the significant increase in mortgage interest rates have had a negative impact on the Mortgage reporting unit. Changes in the timing of the recovery compared to current expectations could cause an impairment to the Insurance or Mortgage reporting unit.

Intangible assets with indefinite lives relate to the Company's trademarks.

Intangible Assets with Definite Lives

Intangible assets with definite lives relate to the following (in thousands):


	Cost		Accumulated Amortization		Net

Customer lists	77,300		(32,303)		44,997
Trademarks and tradenames	9,100		(7,973)		1,127

Balance at March 31, 2023	$	86,400	$	(40,276)	$	46,124


	Cost		Accumulated Amortization		Net

Customer lists	$	77,300	$	(30,775)	$	46,525
Trademarks and tradenames	10,100		(8,452)		1,648

Balance at December 31, 2022	$	87,400	$	(39,227)	$	48,173


	Amortization Expense
Remainder of current year	$	5,646
Year ending December 31, 2024	5,889
Year ending December 31, 2025	5,830
Year ending December 31, 2026	5,504
Year ending December 31, 2027	5,198
Thereafter	18,057
Total intangible assets with definite lives, net	$	46,124

See Note 7—Assets and Liabilities Held for Sale for intangible assets with definite lives classified as held for sale.

REVENUE (Tables)

3 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Revenue is as follows (in thousands):


	Three Months Ended March 31,
	2023		2022
Home	$	43,675	$	101,944
Credit cards	18,288		29,822
Personal loans	23,599		35,210
Other Consumer	37,822		36,036
Total Consumer	79,709		101,068
Insurance	77,082		80,038
Other	42		128
Total revenue	$	200,508	$	283,178

ASSETS AND LIABILITIES HELD FOR SALE - Assets and Liabilities Classified As Held For Sale (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total liabilities held for sale	$ 0	$ 2,909
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations \| Total Consumer
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts receivable, net of allowance		1,353
Prepaid and other current assets		79
Property and equipment, net of accumulated depreciation of $1,102		1,665
Operating lease right-of-use assets		436
Intangible assets, net of accumulated amortization of $3,857		2,143
Other non-current assets		13
Total assets held for sale		5,689
Accounts payable, trade		253
Accrued expenses and other current liabilities		2,551
Operating lease liabilities		105
Total liabilities held for sale		2,909
Accumulated depreciation		1,102
Accumulated amortization		$ 3,857

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net income (loss) and comprehensive income (loss)	$ 13,457	$ (10,826)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Loss on impairments and disposal of assets	5,027	431
Amortization of intangibles	2,049	7,917
Depreciation	4,795	4,854
Non-cash compensation expense	11,274	15,080
Deferred income taxes	360	326
Bad debt expense	963	850
Amortization of debt issuance costs	1,959	2,467
Write-off of previously-capitalized debt issuance costs	2,373	0
Amortization of debt discount	0	879
Reduction in carrying amount of ROU asset, offset by change in operating lease liabilities	(877)	(49)
Gain on settlement of convertible debt	(34,308)	0
Changes in current assets and liabilities:
Accounts receivable	(211)	(17,488)
Prepaid and other current assets	(1,882)	(3,666)
Accounts payable, accrued expenses and other current liabilities	8,559	9,322
Income taxes receivable	42	48
Other, net	(424)	(146)
Net cash provided by operating activities	13,156	9,999
Cash flows from investing activities:
Capital expenditures	(2,452)	(3,465)
Equity investments	0	(15,000)
Net cash used in investing activities	(2,452)	(18,465)
Cash flows from financing activities:
Repayment of term loan	(625)	0
Payments related to net-share settlement of stock-based compensation, net of proceeds from exercise of stock options	(1,693)	(3,085)
Purchase of treasury stock	0	(43,009)
Repurchase of 0.50% Convertible Senior Notes	(156,294)	0
Payment of debt issuance costs	(953)	(4)
Net cash used in financing activities	(159,565)	(46,098)
Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents	(148,861)	(54,564)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	298,969	251,342
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	$ 150,108	$ 196,778

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Accrued expenses and other current liabilities
Accrued advertising expense	$ 44,222	$ 37,703
Accrued compensation and benefits	9,398	11,444
Accrued professional fees	1,539	1,393
Customer deposits and escrows	7,253	7,273
Contribution to LendingTree Foundation	0	500
Current lease liabilities	8,901	8,513
Accrued restructuring and severance	4,446	304
Other	9,070	7,965
Total accrued expenses and other current liabilities	$ 84,829	$ 75,095

ORGANIZATION	3 Months Ended
ORGANIZATION	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Company Overview LendingTree, Inc. is the parent of LT Intermediate Company, LLC, which holds all of the outstanding ownership interests of LendingTree, LLC, and LendingTree, LLC owns several companies (collectively, “LendingTree” or the “Company”). LendingTree operates what it believes to be the leading online consumer platform that connects consumers with the choices they need to be confident in their financial decisions. The Company offers consumers tools and resources, including free credit scores, that facilitate comparison-shopping for mortgage loans, home equity loans and lines of credit, auto loans, credit cards, deposit accounts, personal loans, student loans, small business loans, insurance quotes, sales of insurance policies, and other related offerings. The Company primarily seeks to match in-market consumers with multiple providers on its marketplace who can provide them with competing quotes for loans, deposit products, insurance, or other related offerings they are seeking. The Company also serves as a valued partner to lenders and other providers seeking an efficient, scalable, and flexible source of customer acquisition with directly measurable benefits, by matching the consumer inquiries it generates with these providers. The consolidated financial statements include the accounts of LendingTree and all its wholly-owned entities. Intercompany transactions and accounts have been eliminated. Basis of Presentation The accompanying unaudited interim consolidated financial statements as of March 31, 2023 and for the three months ended March 31, 2023 and 2022, respectively, have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). In the opinion of management, the unaudited interim consolidated financial statements have been prepared on the same basis as the audited financial statements, and include all adjustments, consisting only of normal recurring adjustments, necessary for the fair statement of the Company's financial position for the periods presented. The results for the three months ended March 31, 2023 are not necessarily indicative of the results to be expected for the year ending December 31, 2023, or any other period. The accompanying consolidated balance sheet as of December 31, 2022 was derived from audited financial statements included in the Company's annual report on Form 10-K for the year ended December 31, 2022 (the “2022 Annual Report”). The accompanying consolidated financial statements do not include all of the information and footnotes required by GAAP for annual financial statements. Accordingly, they should be read in conjunction with the audited financial statements and notes thereto included in the 2022 Annual Report. The Company reclassified certain amounts in the prior year consolidated statement of operations and comprehensive income and consolidated statement of cash flows to be consistent with the current year presentation.

ASSETS AND LIABILITIES HELD FOR SALE

3 Months Ended

Mar. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

ASSETS AND LIABILITIES HELD FOR SALE

In the fourth quarter of 2022, the Company approved a plan to sell its Ovation credit services business, an asset group associated with the Company's Consumer segment. The asset group was expected to be sold in 2023 to an unrelated third party and is classified, at its carrying value, as current assets held for sale and current liabilities held for sale in the consolidated balance sheet as of December 31, 2022.

In the first quarter of 2023, the third party withdrew the letter of intent to purchase the asset group held for sale. The Company made the decision to close the Ovation credit services business. As a result, the Company recorded asset impairment charges of $4.2 million, of which $2.1 million related to intangible assets, $1.7 million related to property and equipment, and $0.4 million related to an operating lease right-of-use asset.

The carrying value of the accounts receivable, prepaid and other assets, and other non-current assets previously held for sale, and the liabilities previously held for sale approximate their fair value and are no longer classified as assets and liabilities held for sale in the consolidated balance sheet as of March 31, 2023.

The following table presents information related to the major classes of assets and liabilities that were classified as held for sale (in thousands):


	December 31, 2022
Accounts receivable, net of allowance	$	1,353
Prepaid and other current assets	79
Property and equipment, net of accumulated depreciation of $1,102	1,665
Operating lease right-of-use assets	436
Intangible assets, net of accumulated amortization of $3,857	2,143
Other non-current assets	13
Total assets held for sale	$	5,689

Accounts payable, trade	$	253
Accrued expenses and other current liabilities	2,551
Operating lease liabilities	105
Total liabilities held for sale	$	2,909

CONTINGENCIES (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Accrued litigation liability	$ 0.2	$ 0.1

INCOME TAXES

3 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES


	Three Months Ended March 31,
	2023			2022
	(in thousands, except percentages)
Income tax expense	$	(395)		$	(382)
Effective tax rate	2.9		%	(3.7)		%

For the first quarter of 2023, the effective tax rate varied from the federal statutory rate of 21% primarily due to the change in the valuation allowance, net of the current period change in tax effected net indefinite-lived intangibles. For the first quarter of 2022, the effective tax rate varied from the federal statutory rate of 21% primarily due to excess tax expense of $2.5 million, resulting from vesting of restricted stock in accordance with ASU 2016-09 and the effect of state taxes.


	Three Months Ended March 31,
	2023		2022
	(in thousands)
Income tax benefit - excluding excess tax expense on stock compensation	$	(395)	$	2,086

Excess tax expense on stock compensation	—		(2,468)

Income tax expense	$	(395)	$	(382)

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
ASSETS:
Cash and cash equivalents	$ 150,074	$ 298,845
Restricted cash and cash equivalents	34	124
Accounts receivable (net of allowance of $2,688 and $2,317, respectively)	83,662	83,060
Prepaid and other current assets	28,231	26,250
Assets held for sale (Note 7)	0	5,689
Total current assets	262,001	413,968
Property and equipment (net of accumulated depreciation of $34,925 and $33,851, respectively)	57,411	59,160
Operating lease right-of-use assets	65,578	67,050
Goodwill	420,139	420,139
Intangible assets, net	56,266	58,315
Equity investments	174,580	174,580
Other non-current assets	6,319	6,101
Total assets	1,042,294	1,199,313
LIABILITIES:
Current portion of long-term debt	2,500	2,500
Accounts payable, trade	4,473	2,030
Accrued expenses and other current liabilities	84,829	75,095
Liabilities held for sale (Note 7)	0	2,909
Total current liabilities	91,802	82,534
Long-term debt	625,356	813,516
Operating lease liabilities	86,685	88,232
Deferred income tax liabilities	7,143	6,783
Other non-current liabilities	329	308
Total liabilities	811,315	991,373
Commitments and contingencies (Note 13)
SHAREHOLDERS' EQUITY:
Preferred stock $.01 par value; 5,000,000 shares authorized; none issued or outstanding	0	0
Common stock $.01 par value; 50,000,000 shares authorized; 16,265,177 and 16,167,184 shares issued, respectively, and 12,909,711 and 12,811,718 shares outstanding, respectively	163	162
Additional paid-in capital	1,198,836	1,189,255
Accumulated deficit	(701,842)	(715,299)
Treasury stock; 3,355,466 and 3,355,466 shares, respectively	(266,178)	(266,178)
Total shareholders' equity	230,979	207,940
Total liabilities and shareholders' equity	$ 1,042,294	$ 1,199,313

STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Non-cash Compensation Related to Equity Awards

Non-cash compensation related to equity awards is included in the following line items in the accompanying consolidated statements of operations and comprehensive income (in thousands):


	Three Months Ended March 31,
	2023		2022
Cost of revenue	$	214	$	393
Selling and marketing expense	1,744		2,039
General and administrative expense	7,343		9,600
Product development	1,902		1,965
Restructuring and severance	71		1,083
Total non-cash compensation	$	11,274	$	15,080

Summary of Changes in Outstanding Stock Options

A summary of changes in outstanding stock options is as follows:


	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value(a)
		(per option)		(in years)	(in thousands)
Options outstanding at January 1, 2023	805,079	$	155.10
Granted	—	—
Exercised	—	—
Forfeited	—	—
Expired	(34,313)	239.93
Options outstanding at March 31, 2023	770,766	151.32		5.14	$	171
Options exercisable at March 31, 2023	553,965	$	134.08	3.92	$	171

Summary of Changes in Outstanding Stock Options with Market Conditions

A summary of changes in outstanding stock options with market conditions at target is as follows:


	Number of Options with Market Conditions	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value(a)
		(per option)		(in years)	(in thousands)
Options outstanding at January 1, 2023	734,685	$	230.79
Granted	—	—
Exercised	—	—
Forfeited	—	—
Expired	(16,247)	308.96
Options outstanding at March 31, 2023	718,438	229.02		5.43	$	—
Options exercisable at March 31, 2023	481,669	$	195.10	4.35	$	—

Summary of Changes in Outstanding Nonvested RSUs with Performance Conditions and Nonvested RSAs with Market Conditions

A summary of changes in outstanding nonvested restricted stock units (“RSUs”) is as follows:


	RSUs
	Number of Units	Weighted Average Grant Date Fair Value
		(per unit)
Nonvested at January 1, 2023	485,053	$	127.46
Granted	349,399	33.00
Vested	(150,097)	155.46
Forfeited	(11,427)	95.25
Nonvested at March 31, 2023	672,928	$	72.68

A summary of changes in outstanding nonvested RSUs with performance conditions is as follows:


	RSUs with Performance Conditions
	Number of Units	Weighted Average Grant Date Fair Value
		(per unit)
Nonvested at January 1, 2023	16,000	$	83.25
Granted	—	—
Vested	—	—
Forfeited	(16,000)	83.25
Nonvested at March 31, 2023	—	$	—

Summary of Employee Stock Purchase Plan Valuation Assumptions

For purposes of determining stock-based compensation expense, the grant date fair value per share estimated using the Black-Scholes option pricing model required the use of the following key assumptions:


	Three Months Ended March 31,
	2023		2022
Expected term (1)	0.50 years		0.50 years
Expected dividend (2)	—		—
Expected volatility (3)	82	%	49%
Risk-free interest rate (4)	4.76	%	0.19%

(1)The expected term was calculated using the time period between the grant date and the purchase date.

(2)No dividends are expected to be paid, resulting in a zero expected dividend rate.

(3)The expected volatility rate is based on the historical volatility of the Company's common stock.

CASH AND RESTRICTED CASH (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 150,074	$ 298,845
Restricted cash and cash equivalents	34	124
Total cash, cash equivalents, restricted cash and restricted cash equivalents	$ 150,108	$ 298,969	$ 196,778	$ 251,342

GOODWILL AND INTANGIBLE ASSETS - Schedule of Intangible Assets with Definite Lives (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Intangible assets with definite lives
Cost	$ 86,400	$ 87,400
Accumulated Amortization	(40,276)	(39,227)
Total intangible assets with definite lives, net	46,124	48,173
Customer lists
Intangible assets with definite lives
Cost	77,300	77,300
Accumulated Amortization	(32,303)	(30,775)
Total intangible assets with definite lives, net	44,997	46,525
Trademarks and tradenames
Intangible assets with definite lives
Cost	9,100	10,100
Accumulated Amortization	(7,973)	(8,452)
Total intangible assets with definite lives, net	$ 1,127	$ 1,648

CASH AND RESTRICTED CASH (Tables)

3 Months Ended

Mar. 31, 2023

Cash and Cash Equivalents [Abstract]

Schedule of Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents

Total cash, cash equivalents, restricted cash and restricted cash equivalents consist of the following (in thousands):


	March 31, 2023		December 31, 2022
Cash and cash equivalents	$	150,074	$	298,845
Restricted cash and cash equivalents	34		124
Total cash, cash equivalents, restricted cash and restricted cash equivalents	$	150,108	$	298,969

Schedule of Cash and Cash Equivalents

Total cash, cash equivalents, restricted cash and restricted cash equivalents consist of the following (in thousands):


	March 31, 2023		December 31, 2022
Cash and cash equivalents	$	150,074	$	298,845
Restricted cash and cash equivalents	34		124
Total cash, cash equivalents, restricted cash and restricted cash equivalents	$	150,108	$	298,969

DEBT - Convertible Senior Notes Narrative (Details)		3 Months Ended
DEBT - Convertible Senior Notes Narrative (Details)	Jul. 24, 2020 USD ($) day $ / shares Rate shares	Mar. 31, 2023 USD ($) Rate	Mar. 31, 2022 USD ($)	Mar. 08, 2023 USD ($)
Debt Instrument [Line Items]
Gain on extinguishment of debt		$ 34,308,000	$ 0
Write-off of previously-capitalized debt issuance costs		2,373,000	0
Amortization of debt issuance costs		$ 1,959,000	2,467,000
2025 Convertible Notes
Debt Instrument [Line Items]
Stated interest rate \| Rate		0.50%
Initial conversion rate, shares per $1,000 principal amount of notes \| shares	2.1683
Initial conversion price per share (in dollars per share) \| $ / shares	$ 461.19
Debt repurchase amount				$ 190,600,000
Fair value of debt repurchased				156,300,000
Debt repurchased amount, accrued interest				$ 100,000
Gain on extinguishment of debt		$ 34,300,000
Write-off of previously-capitalized debt issuance costs		2,400,000
Debt prepayment costs		1,000,000
Threshold trading days \| day	20
Threshold consecutive trading days \| day	30
Conversion rate, sales price of common stock as a percentage of the conversion price \| Rate	130.00%
Interest expense		1,400,000	1,500,000
Interest expense recognized associated with the coupon rate		700,000	700,000
Annual interest rate on convertible senior notes	0.50%
Amortization of debt issuance costs		$ 700,000	800,000
2025 Convertible Notes \| Convertible Debt
Debt Instrument [Line Items]
Aggregate principal amount	$ 575,000,000
Stated interest rate	0.50%	0.50%
Fair value		$ 286,700,000
2022 Convertible Notes
Debt Instrument [Line Items]
Interest expense			500,000
Interest expense recognized associated with the coupon rate			300,000
Annual interest rate on convertible senior notes		0.625%
Amortization of debt issuance costs			$ 200,000
2022 Convertible Notes \| Convertible Debt
Debt Instrument [Line Items]
Stated interest rate		0.625%

DEBT

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

DEBT

Convertible Senior Notes

2025 Notes

On July 24, 2020, the Company issued $575.0 million aggregate principal amount of its 0.50% Convertible Senior Notes due July 15, 2025 (the “2025 Notes”) in a private placement. The 2025 Notes bear interest at a rate of 0.50% per year, payable semi-annually on January 15 and July 15 of each year, beginning on January 15, 2021. The 2025 Notes will mature on July 15, 2025, unless earlier repurchased, redeemed or converted. The initial conversion rate of the 2025 Notes is 2.1683 shares of the Company's common stock per $1,000 principal amount of 2025 Notes (which is equivalent to an initial conversion price of approximately $461.19 per share).

On March 8, 2023, the Company repurchased approximately $190.6 million in principal amount of its 2025 Notes, through individual privately-negotiated transactions with certain holders of the 2025 Notes, for $156.3 million in cash plus accrued and unpaid interest of approximately $0.1 million. In the first quarter of 2023, the Company recognized a gain on the extinguishment of debt of $34.3 million, a loss on the write-off of unamortized debt issuance costs of $2.4 million and incurred debt repayment costs of $1.0 million, all of which are included in interest income/expense, net in the consolidated statement of operations and comprehensive income.

Holders of the 2025 Notes were not entitled to convert the 2025 Notes during the calendar quarter ended March 31, 2023 as the last reported sale price of the Company's common stock, for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on December 31, 2022, was not greater than or equal to 130% of the conversion price of the 2025 Notes on each applicable trading day.

In the first three months of 2023, the Company recorded interest expense on the 2025 Notes of $1.4 million which consisted of $0.7 million associated with the 0.50% coupon rate and $0.7 million associated with the amortization of the debt issuance costs. In the first three months of 2022, the Company recorded interest expense on the 2025 Notes of $1.5 million which consisted of $0.7 million associated with the 0.50% coupon rate and $0.8 million associated with the amortization of the debt issuance costs.

As of March 31, 2023, the fair value of the 2025 Notes is estimated to be approximately $286.7 million using the Level 1 observable input of the last quoted market price on March 31, 2023.

A summary of the gross carrying amount, debt issuance costs, and net carrying value of the 2025 Notes, all of which is recorded as a non-current liability in the March 31, 2023 consolidated balance sheet, are as follows (in thousands):


	March 31, 2023		December 31, 2022
Gross carrying amount	$	384,398	$	575,000
Debt issuance costs	4,667		7,734
Net carrying amount	$	379,731	$	567,266

2022 Notes

In the first three months of 2022, the Company recorded interest expense on the 2022 Notes of $0.5 million which consisted of $0.3 million associated with the 0.625% coupon rate and $0.2 million associated with the amortization of the debt issuance costs. The 2022 Notes were fully settled in June 2022.

Convertible Note Hedge and Warrant Transactions

2020 Hedge and Warrants

On July 24, 2020, in connection with the issuance of the 2025 Notes, the Company entered into Convertible Note Hedge (the “2020 Hedge”) and warrant transactions with respect to the Company’s common stock.

The 2020 Hedge transactions cover 1.2 million shares of the Company’s common stock, the same number of shares initially underlying the 2025 Notes, and are exercisable upon any conversion of the 2025 Notes. The 2020 Hedge transactions

are expected generally to reduce the potential dilution to the Company's common stock upon conversion of the 2025 Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of the converted 2025 Notes, as the case may be, in the event that the market price per share of common stock, as measured under the terms of the 2020 Hedge transactions, is greater than the strike price of the 2020 Hedge transactions, which initially corresponds to the initial conversion price of the 2025 Notes, or approximately $461.19 per share of common stock. The 2020 Hedge transactions will expire upon the maturity of the Notes.

On July 24, 2020, the Company sold to the counterparties, warrants (the “2020 Warrants”) to acquire 1.2 million shares of the Company's common stock at an initial strike price of $709.52 per share, which represents a premium of 100% over the last reported sale price of the common stock of $354.76 on July 21, 2020. If the market price per share of the common stock, as measured under the terms of the 2020 Warrants, exceeds the strike price of the 2020 Warrants, the 2020 Warrants could have a dilutive effect, unless the Company elects, subject to certain conditions, to settle the 2020 Warrants in cash.

In connection with the March 8, 2023 repurchases of the 2025 Notes noted above, the Company entered into agreements with the counterparties for the 2020 Hedge and 2020 Warrants transactions to terminate a portion of these call spread transactions effective March 8, 2023 in notional amounts corresponding to the principal amount of the 2025 Notes repurchased. Subsequent to such termination, the outstanding portion of the 2020 Hedge covers 0.8 million shares of the Company's common stock and 2020 Warrants to acquire 0.8 million shares of the Company's common stock remain outstanding.

Credit Facility

On September 15, 2021, the Company entered into a credit agreement (the “Credit Agreement”), consisting of a $200.0 million revolving credit facility (the “Revolving Facility”), which matures on September 15, 2026, and a $250.0 million delayed draw term loan facility (the “Term Loan Facility” and together with the Revolving Facility, the “Credit Facility”), which matures on September 15, 2028.

As of March 31, 2023, the Company had $248.1 million of borrowings outstanding under the Term Loan Facility bearing interest at the LIBO option rate of 8.6% and had no borrowings under the Revolving Facility. As of December 31, 2022, the Company had $248.8 million of borrowings outstanding under the Credit Facility and no borrowings under the Revolving Facility. As of March 31, 2023, borrowings of $2.5 million under the Term Loan Facility are recorded as current portion of long-term debt on the consolidated balance sheet.

At each of March 31, 2023 and December 31, 2022, the Company had outstanding one letter of credit issued in the amount of $0.2 million.

The Company was in compliance with all covenants at March 31, 2023.

In the first three months of 2023, the Company recorded interest expense related to its Revolving Facility of $0.4 million which consisted of $0.2 million in unused commitment fees, and $0.2 million associated with the amortization of the debt issuance costs. In the first three months of 2023, the Company recorded interest expense related to the Term Loan Facility of $5.2 million associated with borrowings bearing interest at the LIBO rate.

In the first three months of 2022, the Company recorded interest expense related to its revolving credit facilities of $0.4 million which consisted of $0.2 million in unused commitment fees, and $0.2 million associated with the amortization of the debt issuance costs. In the first three months of 2022, the Company recorded interest expense related to the Term Loan Facility of $5.1 million which consisted of $3.0 million in unused commitment fees, $1.2 million associated with the amortization of the debt issuance costs, and $0.9 million associated with the amortization of the original issue discount.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.4-08(c))
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-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

CASH AND RESTRICTED CASH

3 Months Ended

Mar. 31, 2023

Cash and Cash Equivalents [Abstract]

CASH AND RESTRICTED CASH

Total cash, cash equivalents, restricted cash and restricted cash equivalents consist of the following (in thousands):


	March 31, 2023		December 31, 2022
Cash and cash equivalents	$	150,074	$	298,845
Restricted cash and cash equivalents	34		124
Total cash, cash equivalents, restricted cash and restricted cash equivalents	$	150,108	$	298,969

INCOME TAXES - Reconciliation of Income Tax (Expense) Benefit (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income tax benefit - excluding excess tax expense on stock compensation	$ (395)	$ 2,086
Excess tax expense on stock compensation	0	(2,468)
Income tax expense	$ (395)	$ (382)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

SEGMENT INFORMATION

The Company manages its business and reports its financial results through the following three operating and reportable segments: Home, Consumer, and Insurance. Characteristics which were relied upon in making the determination of the reportable segments include the nature of the products, the organization's internal structure, and the information that is regularly reviewed by the chief operating decision maker for the purpose of assessing performance and allocating resources.

The Home segment includes the following products: purchase mortgage, refinance mortgage, and home equity loans and lines of credit. The Company ceased offering reverse mortgage loans in the fourth quarter of 2022. 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. The Insurance segment consists of insurance quote products and sales of insurance policies in the agency businesses.


	Three Months Ended March 31, 2023
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	43,675	$	79,709	$	77,082	$	42	$	200,508
Segment marketing expense	28,567		44,833		46,930		221		120,551
Segment profit (loss)	15,108		34,876		30,152		(179)		79,957
Cost of revenue									13,760
Brand and other marketing expense									16,560
General and administrative expense									36,683
Product development									14,655
Depreciation									4,795
Amortization of intangibles									2,049

Restructuring and severance									4,454
Litigation settlements and contingencies									12
Operating loss									(13,011)
Interest income, net									25,029
Other income									1,834
Income before income taxes									$	13,852


	Three Months Ended March 31, 2022
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	101,944	$	101,068	$	80,038	$	128	$	283,178
Segment marketing expense	66,035		58,561		58,935		183		183,714
Segment profit (loss)	35,909		42,507		21,103		(55)		99,464
Cost of revenue									15,561
Brand and other marketing expense									20,443
General and administrative expense									35,977
Product development									14,052
Depreciation									4,854
Amortization of intangibles									7,917

Restructuring and severance									3,625
Litigation settlements and contingencies									(27)
Operating loss									(2,938)
Interest expense, net									(7,505)
Other income									(1)
Loss before income taxes									$	(10,444)

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-URI https://asc.fasb.org/topic&trid=2134510

+ Details

SHAREHOLDERS' EQUITY (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Income per Share

Basic and diluted income per share was determined based on the following share data (in thousands):


	Three Months Ended March 31,
	2023	2022






Weighted average basic common shares	12,846	12,901
Effect of stock options	54	—
Effect of dilutive share awards	35	—

Weighted average diluted common shares	12,935	12,901

DEBT (Table)

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Component of the Notes


	March 31, 2023		December 31, 2022
Gross carrying amount	$	384,398	$	575,000
Debt issuance costs	4,667		7,734
Net carrying amount	$	379,731	$	567,266

STOCK-BASED COMPENSATION - Schedule of Non-cash Compensation Related to Equity Awards (Details ) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	$ 11,274	$ 15,080
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	214	393
Selling and marketing expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	1,744	2,039
General and administrative expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	7,343	9,600
Product development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	1,902	1,965
Restructuring and severance
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	$ 71	$ 1,083

SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Jan. 01, 2022	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total shareholders' equity	$ 230,979	$ 207,940	$ 340,848		$ 447,992
Accumulated Deficit
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total shareholders' equity	$ (701,842)	$ (715,299)	$ (538,173)	$ 44,400	$ (571,794)
Interest adjustment due to ASU 2020-06 adoption				60,800
Tax impacts due to ASU 2020-06 adoption				$ 16,400

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
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-Publisher FASB
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-Name Accounting Standards Codification
-Topic 825
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+ Details

ALLOWANCE FOR DOUBTFUL ACCOUNTS

3 Months Ended

Mar. 31, 2023

Credit Loss [Abstract]

ALLOWANCE FOR DOUBTFUL ACCOUNTS

Accounts receivable are stated at amounts due from customers, net of an allowance for doubtful accounts.

The Company determines its allowance for doubtful accounts by considering a number of factors, including the length of time accounts receivable are past due, previous loss history, current and expected economic conditions and the specific customer's current and expected ability to pay its obligation. Accounts receivable are considered past due when they are outstanding longer than the contractual payment terms. Accounts receivable are written off when management deems them uncollectible.

A reconciliation of the beginning and ending balances of the allowance for doubtful accounts is as follows (in thousands):


	Three Months Ended March 31,
	2023		2022
Balance, beginning of the period	$	2,317	$	1,456
Charges to earnings	963		850
Write-off of uncollectible accounts receivable	(963)		(503)
Recoveries collected	—		—
Assets held for sale (Note 7)	371		—
Balance, end of the period	$	2,688	$	1,803

- Definition

The entire disclosure for credit loss on financial instrument measured at amortized cost basis, net investment in lease, off-balance sheet credit exposure, and available-for-sale debt security.

+ References + Details

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 200,508	$ 283,178
Other
Disaggregation of Revenue [Line Items]
Revenue	42	128
Home
Disaggregation of Revenue [Line Items]
Revenue	43,675	101,944
Credit cards
Disaggregation of Revenue [Line Items]
Revenue	18,288	29,822
Personal loans
Disaggregation of Revenue [Line Items]
Revenue	23,599	35,210
Other Consumer
Disaggregation of Revenue [Line Items]
Revenue	37,822	36,036
Total Consumer
Disaggregation of Revenue [Line Items]
Revenue	79,709	101,068
Insurance
Disaggregation of Revenue [Line Items]
Revenue	$ 77,082	$ 80,038

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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+ Details

SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2023
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Accounting Estimates Management is required to make certain estimates and assumptions during the preparation of the consolidated financial statements in accordance with GAAP. These estimates and assumptions impact the reported amount of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements. They also impact the reported amount of net earnings during any period. Actual results could differ from those estimates. Significant estimates underlying the accompanying consolidated financial statements include: the recoverability of long-lived assets, goodwill and intangible assets; the determination of income taxes payable and deferred income taxes, including related valuation allowances; fair value of assets acquired in a business combination; litigation accruals; contract assets; various other allowances, reserves and accruals; assumptions related to the determination of stock-based compensation; and the determination of right-of-use assets and lease liabilities. The Company considered the impact of the current economic conditions, including interest rates, inflation, and the COVID-19 pandemic on the assumptions and estimates used when preparing its consolidated financial statements including, but not limited to, the allowance for doubtful accounts, valuation allowances, contract asset, and the recoverability of long-lived assets, goodwill and intangible assets. These assumptions and estimates may change as new events occur and additional information is obtained. If economic conditions worsen, such future changes may have an adverse impact on the Company's results of operations, financial position and liquidity. Certain Risks and Concentrations LendingTree's business is subject to certain risks and concentrations including dependence on third-party technology providers, exposure to risks associated with online commerce security and credit card fraud. Financial instruments, which potentially subject the Company to concentration of credit risk at March 31, 2023, consist primarily of cash and cash equivalents and accounts receivable, as disclosed in the consolidated balance sheet. Cash and cash equivalents are in excess of Federal Deposit Insurance Corporation insurance limits, but are maintained with quality financial institutions of high credit. The Company requires certain Network Partners to maintain security deposits with the Company, which in the event of non-payment, would be applied against any accounts receivable outstanding. Due to the nature of the mortgage lending industry, interest rate fluctuations may negatively impact future revenue from the Company's marketplace. Lenders and lead purchasers participating on the Company's marketplace can offer their products directly to consumers through brokers, mass marketing campaigns or through other traditional methods of credit distribution. These lenders and lead purchasers can also offer their products online, either directly to prospective borrowers, through one or more online competitors, or both. If a significant number of potential consumers are able to obtain loans and other products from Network Partners without utilizing the Company's services, the Company's ability to generate revenue may be limited. Because the Company does not have exclusive relationships with the Network Partners whose loans and other financial products are offered on its online marketplace, consumers may obtain offers from these Network Partners without using its service. Other than a support services office in India, the Company's operations are geographically limited to and dependent upon the economic condition of the United States. Litigation Settlements and Contingencies Litigation settlements and contingencies consists of expenses related to actual or anticipated litigation settlements. Recently Adopted Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, which simplifies the accounting for convertible instruments, amends the derivatives scope exception guidance for contracts in an entity’s own equity, and amends the related earnings-per-share guidance. Under the new guidance, the embedded conversion features are no longer separated from the host contract for convertible instruments with conversion features that are not required to be accounted for as derivatives under Topic 815, or that do not result in substantial premiums accounted for as paid-in capital. As a result, a convertible debt instrument will be accounted for as a single liability measured at its amortized cost, as long as no other features require bifurcation and recognition as derivatives. Additionally, the new guidance requires the if-converted method to be applied for all convertible instruments when calculating diluted earnings per share. The Company adopted ASU 2020-06 on January 1, 2022 using the modified retrospective transition approach and recognized the cumulative effect of initially applying ASU 2020-06 as a $44.4 million adjustment to the opening balance of accumulated deficit, comprised of $60.8 million for the interest adjustment, net of $16.4 million for the related tax impacts. The recombination of the equity conversion component of our convertible debt remaining outstanding caused a reduction in additional paid-in capital and an increase in deferred income tax assets. The removal of the remaining debt discounts recorded for this previous separation had the effect of increasing our net debt balance. ASU 2020-06 also requires the dilutive impact of convertible debt instruments to utilize the if-converted method when calculating diluted earnings per share and the result is more dilutive. The adoption of ASU 2020-06 did not impact our cash flows or compliance with debt covenants. Recently Issued Accounting Pronouncements The Company has considered the applicability of recently issued accounting pronouncements by the Financial Accounting Standards Board and have determined that they are either not applicable or are not expected to have a material impact on our consolidated financial statements.

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2020-06 [Member]

- Definition

Indicates amendment to accounting standards.

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+ Details

ALLOWANCE FOR DOUBTFUL ACCOUNTS (Tables)

3 Months Ended

Mar. 31, 2023

Credit Loss [Abstract]

Reconciliation of Allowance For Doubtful Accounts

A reconciliation of the beginning and ending balances of the allowance for doubtful accounts is as follows (in thousands):


	Three Months Ended March 31,
	2023		2022
Balance, beginning of the period	$	2,317	$	1,456
Charges to earnings	963		850
Write-off of uncollectible accounts receivable	(963)		(503)
Recoveries collected	—		—
Assets held for sale (Note 7)	371		—
Balance, end of the period	$	2,688	$	1,803

GOODWILL AND INTANGIBLE ASSETS - Schedule of Amortization of Intangible Assets with Definite Lives (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Amortization of intangible assets with definite lives computed on a straight-line basis
Remainder of current year	$ 5,646
2024	5,889
2025	5,830
2026	5,504
2027	5,198
Thereafter	18,057
Total intangible assets with definite lives, net	$ 46,124	$ 48,173

CONTINGENCIES	3 Months Ended
CONTINGENCIES	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES Overview LendingTree is involved in legal proceedings on an ongoing basis. In assessing the materiality of a legal proceeding, the Company evaluates, among other factors, the amount of monetary damages claimed, as well as the potential impact of non-monetary remedies sought by plaintiffs (e.g., injunctive relief) that may require it to change its business practices in a manner that could have a material and adverse impact on the Company's business. With respect to the matters disclosed in this Note 13, unless otherwise indicated, the Company is unable to estimate the possible loss or range of losses that could potentially result from the application of such non-monetary remedies.As of March 31, 2023 and December 31, 2022, the Company had litigation settlement accruals of $0.2 million and $0.1 million, respectively. The litigation settlement accruals relate to litigation matters that were either settled or a firm offer for settlement was extended, thereby establishing an accrual amount that is both probable and reasonably estimable.

DEBT - Credit Facility (Details) - USD ($)	3 Months Ended
DEBT - Credit Facility (Details) - USD ($)	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Sep. 15, 2021
Line of Credit Facility [Line Items]
Current portion of long-term debt	$ 2,500,000		$ 2,500,000
Letters of credit outstanding	200,000		200,000
Amortization of debt issuance costs	1,959,000	$ 2,467,000
Amortization of debt discount	0	879,000
Credit Agreement \| Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 200,000,000
Interest expense	400,000	400,000
Unused commitment fees	200,000	200,000
Amortization of debt issuance costs	200,000	200,000
Credit Agreement \| Delayed Draw Term Loan \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 250,000,000
Line of credit outstanding	248,100,000		248,800,000
Current portion of long-term debt	2,500,000
Interest expense	$ 5,200,000	5,100,000
Unused commitment fees		3,000,000
Amortization of debt issuance costs		1,200,000
Amortization of debt discount		$ 900,000
Credit Agreement \| LIBOR \| Delayed Draw Term Loan \| Line of Credit
Line of Credit Facility [Line Items]
Basis spread on variable rate	8.60%
Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Line of credit outstanding	$ 0		$ 0

STOCK-BASED COMPENSATION - Summary of RSA & RSU (Details)	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Restricted Stock Units (RSUs)
Nonvested RSUs and Restricted Stock Units, Number of Shares
Nonvested at the beginning of the period (in shares) \| shares	485,053
Granted (in shares) \| shares	349,399
Vested (in shares) \| shares	(150,097)
Forfeited (in shares) \| shares	(11,427)
Nonvested at the end of the period (in shares) \| shares	672,928
Nonvested RSUs and Restricted Stock Units,, Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share) \| $ / shares	$ 127.46
Granted (in dollars per share) \| $ / shares	33.00
Vested (in dollars per share) \| $ / shares	155.46
Forfeited (in dollars per share) \| $ / shares	95.25
Nonvested at the end of the period (in dollars per share) \| $ / shares	$ 72.68
Restricted Stock Units with Performance Conditions
Nonvested RSUs and Restricted Stock Units, Number of Shares
Nonvested at the beginning of the period (in shares) \| shares	16,000
Granted (in shares) \| shares	0
Vested (in shares) \| shares	0
Forfeited (in shares) \| shares	(16,000)
Nonvested at the end of the period (in shares) \| shares	0
Nonvested RSUs and Restricted Stock Units,, Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share) \| $ / shares	$ 83.25
Granted (in dollars per share) \| $ / shares	0
Vested (in dollars per share) \| $ / shares	0
Forfeited (in dollars per share) \| $ / shares	83.25
Nonvested at the end of the period (in dollars per share) \| $ / shares	$ 0