0001434621-23-000022 | 10-Q | XBRL Viewer

REVENUE

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue is as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Home	$	33,390	$	64,927	$	118,628	$	240,809
Credit cards	14,571		24,298		53,942		81,426
Personal loans	26,524		37,701		78,260		115,209
Other Consumer	26,158		40,662		97,237		113,238
Total Consumer	67,253		102,661		229,439		309,873
Insurance	54,536		70,231		190,016		232,025
Other	9		17		66		230
Total revenue	$	155,188	$	237,836	$	538,149	$	782,937

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 were derived from consumers in the Company's credit services product. Upfront fees paid by consumers were recognized as revenue over the estimated time the consumer will remain a customer and receive services. Subscription fees were recognized over the period a consumer is receiving services. As of the second quarter of 2023, the Company discontinued providing its credit services product to consumers and no longer receives upfront and subscription fees.

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 $13.7 million and $12.2 million at September 30, 2023 and December 31, 2022, respectively.

The contract liability recorded within accrued expenses and other current liabilities on the consolidated balance sheet related to upfront fees paid by consumers was $0.9 million at December 31, 2022. During the first nine months of 2023, the Company recognized revenue of $0.9 million, that was included in the contract liability balance at December 31, 2022. During the first nine months of 2022, the Company recognized revenue of $0.8 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 recognizes increases or decreases to such revenue from prior periods. There was a decrease of $0.1 million in the third quarter of 2023, and there was an increase of $0.1 million in the third 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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//606/tableOfContent

+ Details

INCOME TAXES - Summary of Income Tax Expense and Effective Tax Rate (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income tax benefit (expense)	$ 3,534	$ (135,911)	$ 2,912	$ (133,954)
Effective tax rate	2.30%	(596.80%)	2.10%	(307.30%)

- Definition

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

+ References + Details

GOODWILL AND INTANGIBLE ASSETS - Schedule of Intangible Assets with Definite Lives (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Intangible assets with definite lives
Cost	$ 86,400	$ 87,400
Accumulated Amortization	(44,240)	(39,227)
Total intangible assets with definite lives, net	42,160	48,173
Customer lists
Intangible assets with definite lives
Cost	77,300	77,300
Accumulated Amortization	(35,357)	(30,775)
Total intangible assets with definite lives, net	41,943	46,525
Trademarks and tradenames
Intangible assets with definite lives
Cost	9,100	10,100
Accumulated Amortization	(8,883)	(8,452)
Total intangible assets with definite lives, net	$ 217	$ 1,648

DEBT (Table)

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Component of the Notes

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 September 30, 2023 consolidated balance sheet, are as follows (in thousands):


	September 30, 2023		December 31, 2022
Gross carrying amount	$	384,398	$	575,000
Debt issuance costs	3,649		7,734
Net carrying amount	$	380,749	$	567,266

ALLOWANCE FOR DOUBTFUL ACCOUNTS

9 Months Ended

Sep. 30, 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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Balance, beginning of the period	$	2,609	$	2,300	$	2,317	$	1,456
Charges to earnings	(91)		679		1,803		2,708
Write-off of uncollectible accounts receivable	(102)		(623)		(2,075)		(1,808)
Recoveries collected	33		—		33		—
Assets held for sale (Note 7)	—		—		371		—
Balance, end of the period	$	2,449	$	2,356	$	2,449	$	2,356

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Subparagraph (b)
-Publisher FASB
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479319/326-20-50-20

+ Details

STOCK-BASED COMPENSATION - Summary of RSA & RSU (Details)	9 Months Ended
	Sep. 30, 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	390,338
Vested (in shares) \| shares	(228,262)
Forfeited (in shares) \| shares	(138,290)
Nonvested at the end of the period (in shares) \| shares	508,839
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	31.74
Vested (in dollars per share) \| $ / shares	131.92
Forfeited (in dollars per share) \| $ / shares	72.31
Nonvested at the end of the period (in dollars per share) \| $ / shares	$ 67.03
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

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
SIGNIFICANT ACCOUNTING POLICIES	Sep. 30, 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 and inflation 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 September 30, 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 Financial Accounting Standards Board issued Accounting Standards Update ("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. 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 the Company's 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 the Company's 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 the Company's consolidated financial statements.

RESTRUCTURING ACTIVITIES (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2023
Q3 2023 action
Employee separation payments	$	—	$	654	$	(36)	$	—	$	618
Non-cash compensation	—		28		—		(28)		—
Q2 2023 action
Employee separation payments	—		2,063		(1,914)		—		149
Q1 2023 action
Employee separation payments	—		4,296		(3,548)		—		748
Non-cash compensation	—		1,066		—		(1,066)		—
2022 action
Employee separation payments	304		25		(310)		—		19
	$	304	$	8,132	$	(5,808)	$	(1,094)	$	1,534

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net loss	$ (135,123)	$ (177,548)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Loss on impairments and disposal of assets	5,255	4,261
Amortization of intangibles	6,012	21,574
Depreciation	14,239	15,024
Non-cash compensation expense	31,327	47,990
Deferred income taxes	(4,289)	133,943
Bad debt expense	1,803	2,708
Amortization of debt issuance costs	3,473	5,443
Write-off of previously-capitalized debt issuance costs	2,373	0
Amortization of debt discount	0	1,475
Reduction in carrying amount of ROU asset, offset by change in operating lease liabilities	(3,118)	(890)
Gain on settlement of convertible debt	(34,308)	0
Loss on impairment of investments	114,504	0
Loss on impairment of goodwill	38,600	0
Changes in current assets and liabilities:
Accounts receivable	18,276	(1,380)
Prepaid and other current assets	(525)	(6,271)
Accounts payable, accrued expenses and other current liabilities	(11,878)	(19,149)
Income taxes receivable	1,115	(389)
Other, net	(1,044)	(469)
Net cash provided by operating activities	46,692	26,322
Cash flows from investing activities:
Capital expenditures	(9,928)	(8,970)
Equity investments	0	(16,440)
Net cash used in investing activities	(9,928)	(25,410)
Cash flows from financing activities:
Proceeds from term loan	0	250,000
Repayment of term loan	(1,250)	(625)
Payments related to net-share settlement of stock-based compensation, net of proceeds from exercise of stock options	(1,527)	(3,292)
Purchase of treasury stock	0	(43,009)
Payment of debt costs	(1,079)	(4)
Net cash (used in) provided by financing activities	(160,150)	33,411
Net (decrease) increase in cash, cash equivalents, restricted cash and restricted cash equivalents	(123,386)	34,323
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	175,583	285,665
2025 Convertible Notes
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization of debt issuance costs	1,700	2,300
Cash flows from financing activities:
Repurchase of Convertible Senior Notes	(156,294)	0
2022 Convertible Notes
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization of debt issuance costs		400
Cash flows from financing activities:
Repurchase of Convertible Senior Notes	$ 0	$ (169,659)

CONTINGENCIES (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Accrued litigation liability	$ 0.6	$ 0.1

STOCK-BASED COMPENSATION - Summary of Stock Options and Stock Options with Market Conditions (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 29, 2023
Stock options, Grant Date Fair Value Valuation
Share price (in dollars per share)	$ 15.50	$ 15.50
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)	(14,833)
Expired (in shares)	(51,042)
Outstanding at the end of the period (in shares)	739,204
Options exercisable at the end of the period (in shares)	579,316
Stock options, Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 155.10
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Forfeited (in dollars per share)	124.26
Expired (in dollars per share)	227.94
Outstanding at the end of the period (in dollars per share)	150.69
Options exercisable at the end of the period (in dollars per share)	$ 129.61
Stock options, Weighted Average Remaining Contractual Term
Options outstanding at the end of the period (in years)	4 years 7 days
Options exercisable at the end of the period (in years)	3 years 18 days
Stock options, Aggregate Intrinsic Value
Outstanding at the end of the period	$ 0
Options exercisable at the end of the period	$ 0
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)	$ 230.79
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Forfeited (in dollars per share)	0
Expired (in dollars per share)	308.96
Outstanding at the end of the period (in dollars per share)	229.02
Options exercisable at the end of the period (in dollars per share)	$ 195.10
Stock options, Weighted Average Remaining Contractual Term
Options outstanding at the end of the period (in years)	4 years 11 months 4 days
Options exercisable at the end of the period (in years)	3 years 10 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

CASH AND RESTRICTED CASH

9 Months Ended

Sep. 30, 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):


	September 30, 2023		December 31, 2022
Cash and cash equivalents	$	175,580	$	298,845
Restricted cash and cash equivalents	3		124
Total cash, cash equivalents, restricted cash and restricted cash equivalents	$	175,583	$	298,969

GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 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):


	September 30, 2023		December 31, 2022
Goodwill	$	903,227	$	903,227
Accumulated impairment losses	(521,688)		(483,088)
Net goodwill	$	381,539	$	420,139

Intangible assets with indefinite lives	$	10,142	$	10,142
Intangible assets with definite lives, net	42,160		48,173
Total intangible assets, net	$	52,302	$	58,315

Goodwill and Indefinite-Lived Intangible Assets

The Company's goodwill at September 30, 2023 consisted of $59.3 million associated with the Home segment, $166.1 million associated with the Consumer segment, and $156.1 million associated with the Insurance segment.

During the third quarter of 2023, the Company’s market capitalization declined significantly compared to the second quarter of 2023. The closing stock price on September 29, 2023 was $15.50 reflecting a market capitalization below the Company's book value. In addition, the effects of the challenging interest rate environment, low for-sale home inventories and the rise in home prices in the Home reporting unit and consumer price inflation negatively impacting carrier underwriting in the Insurance reporting unit continue to provide revenue headwinds. Based on these factors, it was concluded that a triggering event had occurred, and an interim quantitative impairment test was performed as of September 30, 2023. Upon completing the quantitative goodwill impairment test, the Company concluded that the carrying value of the Insurance reporting unit exceeded its fair value which resulted in a goodwill impairment charge of $38.6 million. The fair value of the Home and Consumer reporting units exceeded their carrying amounts, indicating no goodwill impairment. The fair values of each reporting unit were determined using a combination of the income approach and the market approach valuation methodologies.

The Company will continue to monitor the recovery of the Insurance and Home reporting units. Changes in the timing of the recovery compared to current expectations could cause an impairment to the Home reporting unit or further impairment to the Insurance 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		(35,357)		41,943
Trademarks and tradenames	9,100		(8,883)		217

Balance at September 30, 2023	$	86,400	$	(44,240)	$	42,160


	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 of intangible assets with definite lives is computed on a straight-line basis and, based on balances as of September 30, 2023, future amortization is estimated to be as follows (in thousands):


	Amortization Expense
Remainder of current year	$	1,682
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	$	42,160

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

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
ASSETS:
Cash and cash equivalents	$ 175,580	$ 298,845
Restricted cash and cash equivalents	3	124
Accounts receivable (net of allowance of $2,449 and $2,317, respectively)	64,334	83,060
Prepaid and other current assets	26,959	26,250
Assets held for sale (Note 7)	0	5,689
Total current assets	266,876	413,968
Property and equipment (net of accumulated depreciation of $37,116 and $33,851, respectively)	54,199	59,160
Operating lease right-of-use assets	63,565	67,050
Goodwill	381,539	420,139
Intangible assets, net	52,302	58,315
Equity investments	60,076	174,580
Other non-current assets	6,426	6,101
Total assets	884,983	1,199,313
LIABILITIES:
Current portion of long-term debt	2,500	2,500
Accounts payable, trade	1,560	2,030
Accrued expenses and other current liabilities	66,986	75,095
Liabilities held for sale (Note 7)	0	2,909
Total current liabilities	71,046	82,534
Long-term debt	625,749	813,516
Operating lease liabilities	82,822	88,232
Deferred income tax liabilities	2,494	6,783
Other non-current liabilities	253	308
Total liabilities	782,364	991,373
Commitments and contingencies (Note 14)
SHAREHOLDERS' EQUITY:
Preferred stock $0.01 par value; 5,000,000 shares authorized; none issued or outstanding	0	0
Common stock $0.01 par value; 50,000,000 shares authorized; 16,357,312 and 16,167,184 shares issued, respectively, and 13,001,846 and 12,811,718 shares outstanding, respectively	164	162
Additional paid-in capital	1,219,055	1,189,255
Accumulated deficit	(850,422)	(715,299)
Treasury stock; 3,355,466 and 3,355,466 shares, respectively	(266,178)	(266,178)
Total shareholders' equity	102,619	207,940
Total liabilities and shareholders' equity	$ 884,983	$ 1,199,313

ALLOWANCE FOR DOUBTFUL ACCOUNTS (Tables)

9 Months Ended

Sep. 30, 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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Balance, beginning of the period	$	2,609	$	2,300	$	2,317	$	1,456
Charges to earnings	(91)		679		1,803		2,708
Write-off of uncollectible accounts receivable	(102)		(623)		(2,075)		(1,808)
Recoveries collected	33		—		33		—
Assets held for sale (Note 7)	—		—		371		—
Balance, end of the period	$	2,449	$	2,356	$	2,449	$	2,356

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

9 Months Ended

Sep. 30, 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):


	September 30, 2023		December 31, 2022
Accrued advertising expense	$	27,696	$	37,703
Accrued compensation and benefits	10,693		11,444
Accrued professional fees	1,014		1,393
Customer deposits and escrows	7,282		7,273
Contribution to LendingTree Foundation	—		500
Current lease liabilities	8,442		8,513
Accrued restructuring and severance	2,002		304
Other	9,857		7,965
Total accrued expenses and other current liabilities	$	66,986	$	75,095

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Parenthetical)	Sep. 30, 2023 Rate	Sep. 30, 2022
2025 Convertible Notes
Stated interest rate	0.50%
2022 Convertible Notes
Stated interest rate		0.625%

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

9 Months Ended

Sep. 30, 2023

Payables and Accruals [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

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


	September 30, 2023		December 31, 2022
Accrued advertising expense	$	27,696	$	37,703
Accrued compensation and benefits	10,693		11,444
Accrued professional fees	1,014		1,393
Customer deposits and escrows	7,282		7,273
Contribution to LendingTree Foundation	—		500
Current lease liabilities	8,442		8,513
Accrued restructuring and severance	2,002		304
Other	9,857		7,965
Total accrued expenses and other current liabilities	$	66,986	$	75,095

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

GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 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):


	September 30, 2023		December 31, 2022
Goodwill	$	903,227	$	903,227
Accumulated impairment losses	(521,688)		(483,088)
Net goodwill	$	381,539	$	420,139

Intangible assets with indefinite lives	$	10,142	$	10,142
Intangible assets with definite lives, net	42,160		48,173
Total intangible assets, net	$	52,302	$	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		(35,357)		41,943
Trademarks and tradenames	9,100		(8,883)		217

Balance at September 30, 2023	$	86,400	$	(44,240)	$	42,160


	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 Expense
Remainder of current year	$	1,682
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	$	42,160

SHAREHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 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 September 30,		Nine Months Ended September 30,
	2023	2022	2023	2022






Weighted average basic common shares	12,993	12,758	12,919	12,794
Effect of stock options	—	—	—	—
Effect of dilutive share awards	—	—	—	—

Weighted average diluted common shares	12,993	12,758	12,919	12,794

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2023	Oct. 27, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 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		13,002,786
Entity Central Index Key	0001434621
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3

SEGMENT INFORMATION

9 Months Ended

Sep. 30, 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 credit repair business was closed at the end of the second quarter of 2023. The Insurance segment consists of insurance quote products and sales of insurance policies in the agency businesses.

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 September 30, 2023
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	33,390	$	67,253	$	54,536	$	9	$	155,188
Segment marketing expense	22,095		32,826		31,177		21		86,119
Segment profit (loss)	11,295		34,427		23,359		(12)		69,069
Cost of revenue									7,570
Brand and other marketing expense									11,125
General and administrative expense									26,380
Product development									10,840
Depreciation									4,760
Amortization of intangibles									1,981
Goodwill impairment									38,600

Restructuring and severance									1,955
Litigation settlements and contingencies									(150)
Operating loss									(33,992)
Interest expense, net									(7,097)
Other expense									(110,910)
Loss before income taxes									$	(151,999)


	Three Months Ended September 30, 2022
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	64,927	$	102,661	$	70,231	$	17	$	237,836
Segment marketing expense	40,810		56,868		47,663		228		145,569
Segment profit (loss)	24,117		45,793		22,568		(211)		92,267
Cost of revenue									14,105
Brand and other marketing expense									31,306
General and administrative expense									39,540
Product development									14,043
Depreciation									5,274
Amortization of intangibles									6,582

Restructuring and severance									—
Litigation settlements and contingencies									(7)
Operating loss									(18,576)
Interest expense, net									(5,720)
Other income									1,523
Loss before income taxes									$	(22,773)


	Nine Months Ended September 30, 2023
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	118,628	$	229,439	$	190,016	$	66	$	538,149
Segment marketing expense	78,878		119,466		111,754		516		310,614
Segment profit (loss)	39,750		109,973		78,262		(450)		227,535
Cost of revenue									30,632
Brand and other marketing expense									39,806
General and administrative expense									92,223
Product development									36,096
Depreciation									14,239
Amortization of intangibles									6,012
Goodwill impairment									38,600

Restructuring and severance									9,967
Litigation settlements and contingencies									350
Operating loss									(40,390)
Interest income, net									10,992
Other expense									(108,637)
Loss before income taxes									$	(138,035)


	Nine Months Ended September 30, 2022
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	240,809	$	309,873	$	232,025	$	230	$	782,937
Segment marketing expense	154,043		176,985		165,770		643		497,441
Segment profit (loss)	86,766		132,888		66,255		(413)		285,496
Cost of revenue									44,240
Brand and other marketing expense									68,128
General and administrative expense									115,808
Product development									42,413
Depreciation									15,024
Amortization of intangibles									21,574

Restructuring and severance									3,760
Litigation settlements and contingencies									(41)
Operating loss									(25,410)
Interest expense, net									(19,990)
Other income									1,806
Loss before income taxes									$	(43,594)

- 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
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information by Segment


	Three Months Ended September 30, 2023
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	33,390	$	67,253	$	54,536	$	9	$	155,188
Segment marketing expense	22,095		32,826		31,177		21		86,119
Segment profit (loss)	11,295		34,427		23,359		(12)		69,069
Cost of revenue									7,570
Brand and other marketing expense									11,125
General and administrative expense									26,380
Product development									10,840
Depreciation									4,760
Amortization of intangibles									1,981
Goodwill impairment									38,600

Restructuring and severance									1,955
Litigation settlements and contingencies									(150)
Operating loss									(33,992)
Interest expense, net									(7,097)
Other expense									(110,910)
Loss before income taxes									$	(151,999)


	Three Months Ended September 30, 2022
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	64,927	$	102,661	$	70,231	$	17	$	237,836
Segment marketing expense	40,810		56,868		47,663		228		145,569
Segment profit (loss)	24,117		45,793		22,568		(211)		92,267
Cost of revenue									14,105
Brand and other marketing expense									31,306
General and administrative expense									39,540
Product development									14,043
Depreciation									5,274
Amortization of intangibles									6,582

Restructuring and severance									—
Litigation settlements and contingencies									(7)
Operating loss									(18,576)
Interest expense, net									(5,720)
Other income									1,523
Loss before income taxes									$	(22,773)


	Nine Months Ended September 30, 2023
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	118,628	$	229,439	$	190,016	$	66	$	538,149
Segment marketing expense	78,878		119,466		111,754		516		310,614
Segment profit (loss)	39,750		109,973		78,262		(450)		227,535
Cost of revenue									30,632
Brand and other marketing expense									39,806
General and administrative expense									92,223
Product development									36,096
Depreciation									14,239
Amortization of intangibles									6,012
Goodwill impairment									38,600

Restructuring and severance									9,967
Litigation settlements and contingencies									350
Operating loss									(40,390)
Interest income, net									10,992
Other expense									(108,637)
Loss before income taxes									$	(138,035)


	Nine Months Ended September 30, 2022
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	240,809	$	309,873	$	232,025	$	230	$	782,937
Segment marketing expense	154,043		176,985		165,770		643		497,441
Segment profit (loss)	86,766		132,888		66,255		(413)		285,496
Cost of revenue									44,240
Brand and other marketing expense									68,128
General and administrative expense									115,808
Product development									42,413
Depreciation									15,024
Amortization of intangibles									21,574

Restructuring and severance									3,760
Litigation settlements and contingencies									(41)
Operating loss									(25,410)
Interest expense, net									(19,990)
Other income									1,806
Loss before income taxes									$	(43,594)

SEGMENT INFORMATION (Details) $ in Thousands		3 Months Ended		9 Months Ended
SEGMENT INFORMATION (Details) $ in Thousands	Sep. 30, 2023 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) segment	Sep. 30, 2022 USD ($)
Segment Information
Number of operating segments \| segment				3
Number of reportable segments \| segment				3
Revenue		$ 155,188	$ 237,836	$ 538,149	$ 782,937
Segment marketing expense		86,119	145,569	310,614	497,441
Segment profit (loss)		69,069	92,267	227,535	285,496
Cost of revenue		7,570	14,105
Brand and other marketing expense		11,125	31,306	39,806	68,128
General and administrative expense		26,380	39,540	92,223	115,808
Product development		10,840	14,043	36,096	42,413
Depreciation		4,760	5,274	14,239	15,024
Amortization of intangibles		1,981	6,582	6,012	21,574
Goodwill impairment		38,600	0	38,600	0
Restructuring and severance		1,955	0	9,967	3,760
Litigation settlements and contingencies		(150)	(7)	350	(41)
Operating loss		(33,992)	(18,576)	(40,390)	(25,410)
Interest (expense) income, net		(7,097)	(5,720)	10,992	(19,990)
Other income (expense)		(110,910)	1,523	(108,637)	1,806
Loss before income taxes		(151,999)	(22,773)	(138,035)	(43,594)
Home
Segment Information
Revenue		33,390	64,927	118,628	240,809
Segment marketing expense		22,095	40,810	78,878	154,043
Segment profit (loss)		11,295	24,117	39,750	86,766
Goodwill impairment	$ 0
Consumer
Segment Information
Revenue		67,253	102,661	229,439	309,873
Segment marketing expense		32,826	56,868	119,466	176,985
Segment profit (loss)		34,427	45,793	109,973	132,888
Goodwill impairment	0
Insurance
Segment Information
Revenue		54,536	70,231	190,016	232,025
Segment marketing expense		31,177	47,663	111,754	165,770
Segment profit (loss)		23,359	22,568	78,262	66,255
Goodwill impairment	$ 38,600
Other
Segment Information
Revenue		9	17	66	230
Segment marketing expense		21	228	516	643
Segment profit (loss)		$ (12)	$ (211)	$ (450)	$ (413)

SHAREHOLDERS' EQUITY

9 Months Ended

Sep. 30, 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 September 30,		Nine Months Ended September 30,
	2023	2022	2023	2022






Weighted average basic common shares	12,993	12,758	12,919	12,794
Effect of stock options	—	—	—	—
Effect of dilutive share awards	—	—	—	—

Weighted average diluted common shares	12,993	12,758	12,919	12,794

For the third quarter and first nine months of 2023, 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. An immaterial amount of shares related to potentially dilutive securities were excluded from the calculation of diluted loss per share for the third quarter and first nine months of 2023 because their inclusion would have been anti-dilutive. For the third 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 1.2 million shares of common stock and 0.5 million restricted stock units. For the first nine months

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 1.2 million shares of common stock and 0.5 million restricted stock units.

For the third quarter and first nine months 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 0.1 million and 0.2 million shares related to potentially dilutive securities were excluded from the calculation of diluted loss per share for the third quarter and first nine months of 2022, respectively, because their inclusion would have been anti-dilutive. For the third 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 1.0 million shares of common stock and 0.5 million restricted stock units. For the first nine months 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 1.0 million and 0.4 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 13—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 0.8 million and 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 (income) per share for the third quarter and first nine months of 2023, respectively, because their inclusion would have been anti-dilutive. Approximately 1.2 million and 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 third quarter and first nine months of 2022, respectively, 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 third quarter and first nine months 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 third quarter and first nine months 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 nine months of 2023, the Company did not repurchase shares of its common stock. During the first nine months of 2022, the Company repurchased 379,895 shares of its common stock pursuant to the stock repurchase program. At September 30, 2023, approximately $96.7 million of the previous authorizations to repurchase common stock remain available.

DEBT - Convertible Senior Notes Narrative (Details)		3 Months Ended	9 Months Ended
DEBT - Convertible Senior Notes Narrative (Details)	Jul. 24, 2020 USD ($) day $ / shares Rate shares	Mar. 31, 2023 USD ($)	Sep. 30, 2023 USD ($) Rate	Sep. 30, 2022 USD ($)	Mar. 08, 2023 USD ($)	May 31, 2017 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			$ 3,473,000	5,443,000
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			$ 3,300,000	4,400,000
Interest expense recognized associated with the coupon rate			1,600,000	2,100,000
Annual interest rate on convertible senior notes	0.50%
Amortization of debt issuance costs			$ 1,700,000	$ 2,300,000
2025 Convertible Notes \| Convertible Debt
Debt Instrument [Line Items]
Aggregate principal amount	$ 575,000,000
Stated interest rate	0.50%		0.50%
Fair value			$ 306,600,000
2022 Convertible Notes
Debt Instrument [Line Items]
Stated interest rate				0.625%
Interest expense				$ 800,000
Interest expense recognized associated with the coupon rate				400,000
Annual interest rate on convertible senior notes			0.625%
Amortization of debt issuance costs				$ 400,000
2022 Convertible Notes \| Convertible Debt
Debt Instrument [Line Items]
Aggregate principal amount						$ 300,000,000
Stated interest rate			0.625%			0.625%

INCOME TAXES

9 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES


	Three Months Ended September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022
	(in thousands, except percentages)
Income tax benefit (expense)	$	3,534		$	(135,911)		$	2,912		$	(133,954)
Effective tax rate	2.3		%	(596.8)		%	2.1		%	(307.3)		%

For the third quarter and first nine months 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 third quarter and first nine months of 2022, the effective tax rate varied from the federal statutory rate of 21% primarily due to expense of $139.7 million to record a full valuation allowance against the Company's net deferred tax assets, excess tax expense of $1.8 million and $4.7 million, respectively, resulting from vesting of restricted stock in accordance with ASU 2016-09 and the effect of state taxes.

The Company has a valuation allowance against the net deferred tax assets, with the exception of the net deferred tax liabilities that result from indefinite-life intangibles. At September 30, 2022, the Company recorded a net deferred tax asset of zero as the cumulative net deferred tax asset had a full valuation on it and there was not enough positive evidence that would warrant recognizing the benefit of the net deferred tax asset. In addition, the net indefinite lived deferred tax items were determined to be a net liability resulting in the recognition of a deferred tax liability.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
	(in thousands)
Income tax benefit - excluding excess tax expense on stock compensation	$	3,534	$	5,511	$	2,912	$	10,374
Income tax expense from valuation allowance	—		(139,670)		—		(139,670)
Excess tax expense on stock compensation	—		(1,752)		—		(4,658)

Income tax benefit (expense)	$	3,534	$	(135,911)	$	2,912	$	(133,954)

- 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.

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+ Details

ASSETS AND LIABILITIES HELD FOR SALE (Tables)

9 Months Ended

Sep. 30, 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.

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+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (148,465)	$ (115)	$ 13,457	$ (158,684)	$ (8,038)	$ (10,826)	$ (135,123)	$ (177,548)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

EQUITY INVESTMENT	9 Months Ended
EQUITY INVESTMENT	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
EQUITY INVESTMENT	EQUITY INVESTMENT The investments in equity securities do not have a readily determinable fair value and, upon their acquisition, the Company elected the measurement alternative to value its securities. The equity securities will be carried at cost less impairment, if any, and subsequently measured to fair value upon observable price changes in an orderly transaction for the identical or similar investments with any gains or losses recorded to the consolidated statement of operations and comprehensive income. In the third quarter of 2023, the Company determined there was an impairment indicator related to one of its investments in equity securities and performed a valuation of the investment. Based on the valuation, the Company determined the estimated fair value was below the carrying value of the investment and recorded an impairment charge of $113.1 million. In the second quarter of 2023, the Company recorded an impairment charge of $1.4 million on one of its investments in equity securities. The impairments are included within other income on the consolidated statement of operations and comprehensive income. As of December 31, 2022, there had been no impairments to the acquisition cost of the equity securities.

ORGANIZATION	9 Months Ended
ORGANIZATION	Sep. 30, 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 September 30, 2023 and for the three and nine months ended September 30, 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 and nine months ended September 30, 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 statements of operations and comprehensive income and consolidated statement of cash flows to be consistent with the current year presentation.

EQUITY INVESTMENT (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
EQUITY INVESTMENT (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Loss on impairment of investments	$ 113,100	$ 1,400	$ 114,504	$ 0	$ 0

CASH AND RESTRICTED CASH (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 175,580	$ 298,845
Restricted cash and cash equivalents	3	124
Total cash, cash equivalents, restricted cash and restricted cash equivalents	$ 175,583	$ 298,969	$ 285,665	$ 251,342

SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Jan. 01, 2022	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total shareholders' equity	$ 102,619	$ 241,715	$ 230,979	$ 207,940	$ 206,497	$ 350,486	$ 340,848		$ 447,992
Accumulated Deficit
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total shareholders' equity	$ (850,422)	$ (701,957)	$ (701,842)	$ (715,299)	$ (704,895)	$ (546,211)	$ (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

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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+ Details

GOODWILL AND INTANGIBLE ASSETS - Schedule of Amortization of Intangible Assets with Definite Lives (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Amortization of intangible assets with definite lives computed on a straight-line basis
Remainder of current year	$ 1,682
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	$ 42,160	$ 48,173

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 OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement and Statement of Comprehensive Income [Abstract]
Revenue	$ 155,188	$ 237,836	$ 538,149	$ 782,937
Costs and expenses:
Cost of revenue (exclusive of depreciation and amortization shown separately below)	7,570	14,105	30,632	44,240
Selling and marketing expense	97,244	176,875	350,420	565,569
General and administrative expense	26,380	39,540	92,223	115,808
Product development	10,840	14,043	36,096	42,413
Depreciation	4,760	5,274	14,239	15,024
Amortization of intangibles	1,981	6,582	6,012	21,574
Goodwill impairment	38,600	0	38,600	0
Restructuring and severance	1,955	0	9,967	3,760
Litigation settlements and contingencies	(150)	(7)	350	(41)
Total costs and expenses	189,180	256,412	578,539	808,347
Operating loss	(33,992)	(18,576)	(40,390)	(25,410)
Other income (expense), net:
Interest (expense) income, net	(7,097)	(5,720)	10,992	(19,990)
Other (expense) income	(110,910)	1,523	(108,637)	1,806
Loss before income taxes	(151,999)	(22,773)	(138,035)	(43,594)
Income tax benefit (expense)	3,534	(135,911)	2,912	(133,954)
Net loss	(148,465)	(158,684)	(135,123)	(177,548)
Comprehensive loss	$ (148,465)	$ (158,684)	$ (135,123)	$ (177,548)
Weighted average shares outstanding:
Basic (in shares)	12,993	12,758	12,919	12,794
Diluted (in shares)	12,993	12,758	12,919	12,794
Net loss per share:
Basic (in dollars per share)	$ (11.43)	$ (12.44)	$ (10.46)	$ (13.88)
Diluted (in dollars per share)	$ (11.43)	$ (12.44)	$ (10.46)	$ (13.88)

REVENUE - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
REVENUE - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Contract asset	$ 13.7		$ 13.7		$ 12.2
Contract liability					$ 0.9
Revenue recognized from prior period			$ 0.9	$ 0.8
Estimated variable consideration, increase (decrease) in revenue	$ (0.1)	$ 0.1

CONTINGENCIES	9 Months Ended
CONTINGENCIES	Sep. 30, 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 14, 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 September 30, 2023 and December 31, 2022, the Company had litigation settlement accruals of $0.6 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 - Convertible Note Hedge and Warrant Transactions (Details) - $ / shares shares in Millions	Sep. 30, 2023	Sep. 29, 2023	Jul. 24, 2020	Jul. 21, 2020
Debt Instrument [Line Items]
Share price (in dollars per share)	$ 15.50	$ 15.50
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

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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-Paragraph 1B
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+ Details

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
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
Beginning balance, treasury (in shares) at Dec. 31, 2021								2,976,000
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)								379,000
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
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
Beginning balance, treasury (in shares) at Dec. 31, 2021								2,976,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(177,548)
Comprehensive income (loss)	$ (177,548)
Purchase of treasury stock (in shares)	379,895
Ending balance at Sep. 30, 2022	$ 206,497		$ 161	1,177,409		(704,895)		$ (266,178)
Ending balance, common (in shares) at Sep. 30, 2022			16,140,000
Ending balance, treasury (in shares) at Sep. 30, 2022								3,355,000
Beginning balance at Mar. 31, 2022	340,848		$ 161	1,145,038		(538,173)		$ (266,178)
Beginning balance, common (in shares) at Mar. 31, 2022			16,120,000
Beginning balance, treasury (in shares) at Mar. 31, 2022								3,355,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(8,038)					(8,038)
Comprehensive income (loss)	(8,038)					(8,038)
Non-cash compensation	17,335			17,335
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	341			341
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes and cancellations (in shares)			21,000
Ending balance at Jun. 30, 2022	350,486		$ 161	1,162,714		(546,211)		$ (266,178)
Ending balance, common (in shares) at Jun. 30, 2022			16,141,000
Ending balance, treasury (in shares) at Jun. 30, 2022								3,355,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(158,684)					(158,684)
Comprehensive income (loss)	(158,684)					(158,684)
Non-cash compensation	15,575			15,575
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	(880)			(880)
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes and cancellations (in shares)			(1,000)
Ending balance at Sep. 30, 2022	206,497		$ 161	1,177,409		(704,895)		$ (266,178)
Ending balance, common (in shares) at Sep. 30, 2022			16,140,000
Ending balance, treasury (in shares) at Sep. 30, 2022								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
Beginning balance, treasury (in shares) at Dec. 31, 2022	3,355,466							3,355,000
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
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			16,265,000
Ending balance, treasury (in shares) at Mar. 31, 2023								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
Beginning balance, treasury (in shares) at Dec. 31, 2022	3,355,466							3,355,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)	$ (135,123)
Comprehensive income (loss)	$ (135,123)
Purchase of treasury stock (in shares)	0
Ending balance at Sep. 30, 2023	$ 102,619		$ 164	1,219,055		(850,422)		$ (266,178)
Ending balance, common (in shares) at Sep. 30, 2023	13,001,846		16,357,000
Ending balance, treasury (in shares) at Sep. 30, 2023	3,355,466							3,355,000
Beginning balance at Mar. 31, 2023	$ 230,979		$ 163	1,198,836		(701,842)		$ (266,178)
Beginning balance, common (in shares) at Mar. 31, 2023			16,265,000
Beginning balance, treasury (in shares) at Mar. 31, 2023								3,355,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(115)					(115)
Comprehensive income (loss)	(115)					(115)
Non-cash compensation	10,199			10,199
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	652			652
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes and cancellations (in shares)			59,000
Ending balance at Jun. 30, 2023	241,715		$ 163	1,209,687		(701,957)		$ (266,178)
Ending balance, common (in shares) at Jun. 30, 2023			16,324,000
Ending balance, treasury (in shares) at Jun. 30, 2023								3,355,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(148,465)					(148,465)
Comprehensive income (loss)	(148,465)					(148,465)
Non-cash compensation	9,854			9,854
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	(485)		$ 1	(486)
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes and cancellations (in shares)			33,000
Ending balance at Sep. 30, 2023	$ 102,619		$ 164	$ 1,219,055		$ (850,422)		$ (266,178)
Ending balance, common (in shares) at Sep. 30, 2023	13,001,846		16,357,000
Ending balance, treasury (in shares) at Sep. 30, 2023	3,355,466							3,355,000

DEBT

9 Months Ended

Sep. 30, 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 statements of operations and comprehensive income.

Holders of the 2025 Notes were not entitled to convert the 2025 Notes during the calendar quarter ended September 30, 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 June 30, 2023, was not greater than or equal to 130% of the conversion price of the 2025 Notes on each applicable trading day.

In the first nine months of 2023, the Company recorded interest expense on the 2025 Notes of $3.3 million which consisted of $1.6 million associated with the 0.50% coupon rate and $1.7 million associated with the amortization of the debt issuance costs. In the first nine months of 2022, the Company recorded interest expense on the 2025 Notes of $4.4 million which consisted of $2.1 million associated with the 0.50% coupon rate and $2.3 million associated with the amortization of the debt issuance costs.

As of September 30, 2023, the fair value of the 2025 Notes is estimated to be approximately $306.6 million using the Level 1 observable input of the last quoted market price on September 30, 2023.


	September 30, 2023		December 31, 2022
Gross carrying amount	$	384,398	$	575,000
Debt issuance costs	3,649		7,734
Net carrying amount	$	380,749	$	567,266

2022 Notes

On May 31, 2017, the Company issued $300.0 million aggregate principal amount of its 0.625% Convertible Senior Notes due June 1, 2022 (the "2022 Notes") in a private placement. In the first nine months of 2022, the Company recorded interest expense on the 2022 Notes of $0.8 million which consisted of $0.4 million associated with the 0.625% coupon rate and $0.4 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 2025 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 September 30, 2023, the Company had $247.5 million of borrowings outstanding under the Term Loan Facility bearing interest at the SOFR option rate of 9.2% 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 September 30, 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 September 30, 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 September 30, 2023.

In the first nine months of 2023, the Company recorded interest expense related to its Revolving Facility of $1.1 million which consisted of $0.4 million in unused commitment fees and $0.7 million associated with the amortization of the debt issuance costs. In the first nine months of 2023, the Company recorded interest expense related to the Term Loan Facility of $16.4 million associated with borrowings bearing interest at the LIBO rate during the first six months of 2023 and the SOFR option rate in the third quarter of 2023.

In the first nine months of 2022, the Company recorded interest expense related to its Revolving Facility of $1.1 million which consisted of $0.4 million in unused commitment fees, and $0.7 million associated with the amortization of the debt issuance costs. In the first nine months of 2022, the Company recorded interest expense related to the Term Loan Facility of $13.5 million which consisted of $4.9 million associated with borrowings bearing interest at the LIBO rate, $5.1 million in unused commitment fees, $2.0 million associated with the amortization of the debt issuance costs, and $1.5 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://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

DEBT - Components of Notes (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Net carrying amount	$ 625,749	$ 813,516
2025 Convertible Notes
Debt Instrument [Line Items]
Gross carrying amount	384,398	575,000
Debt issuance costs	3,649	7,734
Net carrying amount	$ 380,749	$ 567,266

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

ASSETS AND LIABILITIES HELD FOR SALE - Assets and Liabilities Classified As Held For Sale (Details) - USD ($) $ in Thousands	Sep. 30, 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

FAIR VALUE MEASUREMENTS	9 Months Ended
FAIR VALUE MEASUREMENTS	Sep. 30, 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 September 30, 2023. See Note 13—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

CASH AND RESTRICTED CASH (Tables)

9 Months Ended

Sep. 30, 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):


	September 30, 2023		December 31, 2022
Cash and cash equivalents	$	175,580	$	298,845
Restricted cash and cash equivalents	3		124
Total cash, cash equivalents, restricted cash and restricted cash equivalents	$	175,583	$	298,969

Schedule of Cash and Cash Equivalents

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


	September 30, 2023		December 31, 2022
Cash and cash equivalents	$	175,580	$	298,845
Restricted cash and cash equivalents	3		124
Total cash, cash equivalents, restricted cash and restricted cash equivalents	$	175,583	$	298,969

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Federal statutory income tax rate	21.00%	21.00%	21.00%	21.00%
Income tax expense from valuation allowance	$ 0	$ 139,670	$ 0	$ 139,670
Excess tax expense on stock compensation	$ 0	1,752	$ 0	4,658
Net deferred tax asset		$ 0		$ 0

STOCK-BASED COMPENSATION - Employee Stock Purchase Plan (Details) - Employee Stock - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares)	190,277		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)	36,536
Grant date fair value (in dollars per share)	$ 8.53	$ 20.96
Expected term (in years)	6 months	6 months
Expected dividend	0.00%	0.00%
Expected volatility	82.00%
Expected volatility, minimum		49.00%
Expected volatility, maximum		73.00%
Risk-free interest rate, minimum	4.76%	0.19%
Risk-free interest rate, maximum	5.50%	2.51%
Expected dividends	$ 0

STOCK-BASED COMPENSATION

9 Months Ended

Sep. 30, 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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Cost of revenue	$	66	$	417	$	311	$	1,252
Selling and marketing expense	1,127		2,198		4,207		6,522
General and administrative expense	5,828		11,212		19,721		32,685
Product development	1,571		1,748		4,760		6,448
Restructuring and severance	1,262		—		2,328		1,083
Total non-cash compensation	$	9,854	$	15,575	$	31,327	$	47,990

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	(14,833)	124.26
Expired	(51,042)	227.94
Options outstanding at September 30, 2023	739,204	150.69		4.02	$	—
Options exercisable at September 30, 2023	579,316	$	129.61	3.05	$	—

(a)The aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Company's closing stock price of $15.50 on the last trading day of the quarter ended September 30, 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 September 30, 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 September 30, 2023	718,438	229.02		4.93	$	—
Options exercisable at September 30, 2023	481,669	$	195.10	3.85	$	—

As of September 30, 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 September 30, 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	390,338	31.74
Vested	(228,262)	131.92
Forfeited	(138,290)	72.31
Nonvested at September 30, 2023	508,839	$	67.03

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 September 30, 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 September 30, 2023, 190,277 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. During the nine months ended September 30, 2023, 36,536 shares were issued under the ESPP.

During the nine months ended September 30, 2023 and 2022, the Company granted employee stock purchase rights to certain employees with a grant date fair value per share of $8.53 and $20.96, 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:


	Nine Months Ended September 30,
	2023		2022
Expected term (1)	0.50 years		0.50 years
Expected dividend (2)	—		—
Expected volatility (3)	82	%	49 - 73%
Risk-free interest rate (4)	4.76 - 5.50%		0.19 - 2.51%

(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.

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

- Definition

Indicates amendment to accounting standards.

+ References

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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (a)(1)
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Reference 60: http://www.xbrl.org/2003/role/disclosureRef
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Reference 61: http://www.xbrl.org/2003/role/disclosureRef
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Reference 62: http://www.xbrl.org/2003/role/disclosureRef
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Reference 63: http://www.xbrl.org/2003/role/disclosureRef
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Reference 64: http://www.xbrl.org/2003/role/disclosureRef
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Reference 65: http://www.xbrl.org/2003/role/disclosureRef
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Reference 66: http://www.xbrl.org/2003/role/disclosureRef
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Reference 69: http://www.xbrl.org/2003/role/disclosureRef
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Reference 72: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

+ Details

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Sep. 30, 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 and inflation 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 September 30, 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 Financial Accounting Standards Board issued Accounting Standards Update ("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. 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 the Company's 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 the Company's 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 the Company's consolidated financial statements.
Equity Investment	The investments in equity securities do not have a readily determinable fair value and, upon their acquisition, the Company elected the measurement alternative to value its securities. The equity securities will be carried at cost less impairment, if any, and subsequently measured to fair value upon observable price changes in an orderly transaction for the identical or similar investments with any gains or losses recorded to the consolidated statement of operations and comprehensive income.
Income Taxes	The Company has a valuation allowance against the net deferred tax assets, with the exception of the net deferred tax liabilities that result from indefinite-life intangibles.

- Definition

Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.

+ References + Details

GOODWILL AND INTANGIBLE ASSETS - Schedule of Balance of Goodwill, Net and Intangible Assets, Net (Details ) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 903,227	$ 903,227
Accumulated impairment losses	(521,688)	(483,088)
Net goodwill	381,539	420,139
Intangible assets with indefinite lives	10,142	10,142
Intangible assets with definite lives, net	42,160	48,173
Total intangible assets, net	$ 52,302	$ 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

REVENUE (Tables)

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Revenue is as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Home	$	33,390	$	64,927	$	118,628	$	240,809
Credit cards	14,571		24,298		53,942		81,426
Personal loans	26,524		37,701		78,260		115,209
Other Consumer	26,158		40,662		97,237		113,238
Total Consumer	67,253		102,661		229,439		309,873
Insurance	54,536		70,231		190,016		232,025
Other	9		17		66		230
Total revenue	$	155,188	$	237,836	$	538,149	$	782,937

SHAREHOLDERS' EQUITY (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
SHAREHOLDERS' EQUITY (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jul. 24, 2020	Feb. 28, 2019	Feb. 28, 2018	May 31, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average basic common shares (in shares)	12,993,000	12,758,000	12,919,000	12,794,000
Effect of stock options (in shares)	0	0	0	0
Effect of dilutive share awards (in shares)	0	0	0	0
Weighted average diluted common shares (in shares)	12,993,000	12,758,000	12,919,000	12,794,000
Additional disclosure
Antidilutive securities excluded from computation of earnings per share (in shares)		100,000		200,000
Common stock repurchases
Value of common stock authorized to be repurchased						$ 150.0	$ 100.0
Repurchased shares of common stock under stock repurchase program (in shares)			0	379,895
Remaining authorized repurchase amount	$ 96.7		$ 96.7
2025 Convertible Notes
Additional disclosure
Stated interest rate	0.50%		0.50%
2025 Convertible Notes \| Convertible Debt
Additional disclosure
Stated interest rate	0.50%		0.50%		0.50%
2022 Convertible Notes
Additional disclosure
Stated interest rate		0.625%		0.625%
2022 Convertible Notes \| Convertible Debt
Additional disclosure
Stated interest rate	0.625%		0.625%					0.625%
Option
Additional disclosure
Antidilutive securities excluded from computation of earnings per share (in shares)	1,200,000	1,000,000	1,200,000	1,000,000
Restricted Stock Units (RSUs)
Additional disclosure
Antidilutive securities excluded from computation of earnings per share (in shares)	500,000	500,000	500,000	400,000
Convertible Debt
Additional disclosure
Antidilutive securities excluded from computation of earnings per share (in shares)	800,000	1,200,000	1,200,000	2,100,000

INCOME TAXES (Tables)

9 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

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


	Three Months Ended September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022
	(in thousands, except percentages)
Income tax benefit (expense)	$	3,534		$	(135,911)		$	2,912		$	(133,954)
Effective tax rate	2.3		%	(596.8)		%	2.1		%	(307.3)		%

Reconciliation of Income Tax (Expense) Benefit


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
	(in thousands)
Income tax benefit - excluding excess tax expense on stock compensation	$	3,534	$	5,511	$	2,912	$	10,374
Income tax expense from valuation allowance	—		(139,670)		—		(139,670)
Excess tax expense on stock compensation	—		(1,752)		—		(4,658)

Income tax benefit (expense)	$	3,534	$	(135,911)	$	2,912	$	(133,954)

INCOME TAXES - Reconciliation of Income Tax (Expense) Benefit (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income tax benefit - excluding excess tax expense on stock compensation	$ 3,534	$ 5,511	$ 2,912	$ 10,374
Income tax expense from valuation allowance	0	(139,670)	0	(139,670)
Excess tax expense on stock compensation	0	(1,752)	0	(4,658)
Income tax benefit (expense)	$ 3,534	$ (135,911)	$ 2,912	$ (133,954)

- Definition

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

+ References + Details

STOCK-BASED COMPENSATION - Schedule of Non-cash Compensation Related to Equity Awards (Details ) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	$ 9,854	$ 15,575	$ 31,327	$ 47,990
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	66	417	311	1,252
Selling and marketing expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	1,127	2,198	4,207	6,522
General and administrative expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	5,828	11,212	19,721	32,685
Product development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	1,571	1,748	4,760	6,448
Restructuring and severance
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	$ 1,262	$ 0	$ 2,328	$ 1,083

ALLOWANCE FOR DOUBTFUL ACCOUNTS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of the period	$ 2,609	$ 2,300	$ 2,317	$ 1,456
Charges to earnings	(91)	679	1,803	2,708
Write-off of uncollectible accounts receivable	(102)	(623)	(2,075)	(1,808)
Recoveries collected	33	0	33	0
Assets held for sale (Note 7)	0	0	371	0
Balance, end of the period	$ 2,449	$ 2,356	$ 2,449	$ 2,356

RESTRUCTURING ACTIVITIES

9 Months Ended

Sep. 30, 2023

Restructuring and Related Activities [Abstract]

RESTRUCTURING ACTIVITIES

During September 2023, the Company completed workforce reductions of approximately 12 employees. The Company estimates that it will incur approximately $0.9 million in severance charges in connection with the workforce reductions, consisting of cash expenditures for employee separation costs of approximately $0.7 million in the third quarter of 2023 and non-cash charges for the accelerated vesting of certain equity awards of approximately $0.2 million through the fourth quarter of 2023. The cash payments are expected to be substantially completed by the third quarter of 2024.

On April 6, 2023, the Company made the decision to close the Ovation credit services business ( the "Ovation Closure".) The Ovation Closure includes the elimination of approximately 197 employees, or 18%, of the Company's current workforce. As a result of the Ovation Closure, the Company incurred $2.1 million in restructuring expense in connection with cash expenditures for employee separation costs. The Ovation Closure, including cash payments, is expected to be completed by the first quarter of 2024.

On March 24, 2023, the Company committed to a workforce reduction plan (the “Reduction Plan”), to reduce operating costs. The Reduction Plan includes the elimination of approximately 162 employees, or 13%, of the Company’s current workforce. As a result of the Reduction Plan, the Company estimates that it will incur approximately $5.3 million in severance charges in connection with the workforce reduction, consisting of cash expenditures for employee separation costs of approximately $4.3 million and non-cash charges for the accelerated vesting of certain equity awards of approximately $1.0 million.

The Company has incurred restructuring expense of $4.3 million in the first quarter of 2023 and an additional $1.0 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 substantially 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 nine months of 2022, the Company incurred total expense of $3.8 million consisting of employee separation costs of $2.7 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 fourth quarter of 2023.


	Accrued Balance at December 31, 2022		Income Statement Impact		Payments		Non-Cash		Accrued Balance at September 30, 2023
Q3 2023 action
Employee separation payments	$	—	$	654	$	(36)	$	—	$	618
Non-cash compensation	—		28		—		(28)		—
Q2 2023 action
Employee separation payments	—		2,063		(1,914)		—		149
Q1 2023 action
Employee separation payments	—		4,296		(3,548)		—		748
Non-cash compensation	—		1,066		—		(1,066)		—
2022 action
Employee separation payments	304		25		(310)		—		19
	$	304	$	8,132	$	(5,808)	$	(1,094)	$	1,534

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 29, 2023	Dec. 31, 2022
Intangible assets with definite lives
Goodwill	$ 903,227	$ 903,227		$ 903,227			$ 903,227
Closing stock price (in dollars per share)	$ 15.50	$ 15.50		$ 15.50		$ 15.50
Goodwill impairment		$ 38,600	$ 0	$ 38,600	$ 0
Home
Intangible assets with definite lives
Goodwill	$ 59,300	59,300		59,300
Goodwill impairment	0
Consumer
Intangible assets with definite lives
Goodwill	166,100	166,100		166,100
Goodwill impairment	0
Insurance
Intangible assets with definite lives
Goodwill	156,100	$ 156,100		$ 156,100
Goodwill impairment	$ 38,600

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for credit loss	$ 2,449	$ 2,317
Accumulated depreciation	$ 37,116	$ 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	16,357,312	16,167,184
Common stock, shares outstanding	13,001,846	12,811,718
Treasury stock, shares	3,355,466	3,355,466

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 155,188	$ 237,836	$ 538,149	$ 782,937
Other
Disaggregation of Revenue [Line Items]
Revenue	9	17	66	230
Home
Disaggregation of Revenue [Line Items]
Revenue	33,390	64,927	118,628	240,809
Credit cards
Disaggregation of Revenue [Line Items]
Revenue	14,571	24,298	53,942	81,426
Personal loans
Disaggregation of Revenue [Line Items]
Revenue	26,524	37,701	78,260	115,209
Other Consumer
Disaggregation of Revenue [Line Items]
Revenue	26,158	40,662	97,237	113,238
Total Consumer
Disaggregation of Revenue [Line Items]
Revenue	67,253	102,661	229,439	309,873
Insurance
Disaggregation of Revenue [Line Items]
Revenue	$ 54,536	$ 70,231	$ 190,016	$ 232,025

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- 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).

+ References

+ Details

ASSETS AND LIABILITIES HELD FOR SALE

9 Months Ended

Sep. 30, 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 were 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

STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Cost of revenue	$	66	$	417	$	311	$	1,252
Selling and marketing expense	1,127		2,198		4,207		6,522
General and administrative expense	5,828		11,212		19,721		32,685
Product development	1,571		1,748		4,760		6,448
Restructuring and severance	1,262		—		2,328		1,083
Total non-cash compensation	$	9,854	$	15,575	$	31,327	$	47,990

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	(14,833)	124.26
Expired	(51,042)	227.94
Options outstanding at September 30, 2023	739,204	150.69		4.02	$	—
Options exercisable at September 30, 2023	579,316	$	129.61	3.05	$	—

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 September 30, 2023	718,438	229.02		4.93	$	—
Options exercisable at September 30, 2023	481,669	$	195.10	3.85	$	—

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	390,338	31.74
Vested	(228,262)	131.92
Forfeited	(138,290)	72.31
Nonvested at September 30, 2023	508,839	$	67.03

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 September 30, 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:


	Nine Months Ended September 30,
	2023		2022
Expected term (1)	0.50 years		0.50 years
Expected dividend (2)	—		—
Expected volatility (3)	82	%	49 - 73%
Risk-free interest rate (4)	4.76 - 5.50%		0.19 - 2.51%

(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.

DEBT - Credit Facility (Details) - USD ($)	9 Months Ended
DEBT - Credit Facility (Details) - USD ($)	Sep. 30, 2023	Sep. 30, 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	3,473,000	$ 5,443,000
Amortization of debt discount	0	1,475,000
Credit Agreement \| Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 200,000,000
Interest expense	1,100,000	1,100,000
Unused commitment fees	400,000	400,000
Amortization of debt issuance costs	700,000	700,000
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	247,500,000		248,800,000
Current portion of long-term debt	2,500,000
Interest expense	$ 16,400,000	13,500,000
Unused commitment fees		5,100,000
Amortization of debt issuance costs		2,000,000
Amortization of debt discount		1,500,000
Credit Agreement \| Secured Overnight Financing Rate (SOFR) \| Delayed Draw Term Loan \| Line of Credit
Line of Credit Facility [Line Items]
Basis spread on variable rate	9.20%
Credit Agreement \| LIBOR \| Delayed Draw Term Loan \| Line of Credit
Line of Credit Facility [Line Items]
Interest expense recognized associated with the coupon rate		$ 4,900,000
Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Line of credit outstanding	$ 0		$ 0

RESTRUCTURING ACTIVITIES (Details) $ in Thousands			1 Months Ended	3 Months Ended							9 Months Ended		12 Months Ended	15 Months Ended
RESTRUCTURING ACTIVITIES (Details) $ in Thousands	Apr. 06, 2023 USD ($) employee	Mar. 24, 2023 USD ($) employee	Sep. 30, 2023 USD ($) employee	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) employee	Sep. 30, 2022 USD ($)	Jun. 30, 2022 employee	Mar. 31, 2022 employee	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Mar. 31, 2024	Jun. 30, 2024	Dec. 31, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Total restructuring charges				$ 1,955				$ 0			$ 9,967	$ 3,760
Restructuring Reserve [Roll Forward]
Income Statement Impact				1,955				$ 0			9,967	3,760
2022 And 2023 Reduction Action
Restructuring Cost and Reserve [Line Items]
Total restructuring charges											8,132
Non-cash compensation due to accelerated vesting of equity awards											1,094
Restructuring Reserve [Roll Forward]
Accrued Balance at beginning of period						$ 304					304
Income Statement Impact											8,132
Payments											(5,808)
Non-Cash											(1,094)
Accrued Balance at end of period			$ 1,534	1,534			$ 304				1,534
Q3 2023 action
Restructuring Cost and Reserve [Line Items]
Number of employee positions estimated to be eliminated in workforce reduction \| employee			12
Expected costs to be incurred due to reduction			$ 900	900							900
Q2 2023 action
Restructuring Cost and Reserve [Line Items]
Number of employee positions estimated to be eliminated in workforce reduction \| employee	197
Total restructuring charges	$ 2,100
Restructuring Reserve [Roll Forward]
Income Statement Impact	$ 2,100
Q2 2023 action \| Forecast
Restructuring Cost and Reserve [Line Items]
Percentage of workforce eliminated													18.00%
Q1 2023 action
Restructuring Cost and Reserve [Line Items]
Number of employee positions estimated to be eliminated in workforce reduction \| employee		162
Expected costs to be incurred due to reduction		$ 5,300
Total restructuring charges					$ 1,000	4,300
Restructuring Reserve [Roll Forward]
Income Statement Impact					$ 1,000	4,300
Q1 2023 action \| Forecast
Restructuring Cost and Reserve [Line Items]
Percentage of workforce eliminated														13.00%
2022 action
Restructuring Cost and Reserve [Line Items]
Total restructuring charges												3,800
Number of employees eliminated in workforce reduction \| employee							50		25	75
Separation costs												2,700
Non-cash compensation due to accelerated vesting of equity awards												1,100
Restructuring Reserve [Roll Forward]
Income Statement Impact												3,800
Non-Cash												$ (1,100)
Employee separation payments \| Q3 2023 action
Restructuring Cost and Reserve [Line Items]
Expected costs to be incurred due to reduction			700	700							700
Total restructuring charges											654
Non-cash compensation due to accelerated vesting of equity awards											0
Restructuring Reserve [Roll Forward]
Accrued Balance at beginning of period						0					0
Income Statement Impact											654
Payments											(36)
Non-Cash											0
Accrued Balance at end of period			618	618			$ 0				618
Employee separation payments \| Q2 2023 action
Restructuring Cost and Reserve [Line Items]
Total restructuring charges											2,063
Non-cash compensation due to accelerated vesting of equity awards											0
Restructuring Reserve [Roll Forward]
Accrued Balance at beginning of period						0					0
Income Statement Impact											2,063
Payments											(1,914)
Non-Cash											0
Accrued Balance at end of period			149	149			0				149
Employee separation payments \| Q1 2023 action
Restructuring Cost and Reserve [Line Items]
Expected costs to be incurred due to reduction		4,300
Total restructuring charges											4,296
Non-cash compensation due to accelerated vesting of equity awards											0
Restructuring Reserve [Roll Forward]
Accrued Balance at beginning of period						0					0
Income Statement Impact											4,296
Payments											(3,548)
Non-Cash											0
Accrued Balance at end of period			748	748			0				748
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						304					304
Income Statement Impact											25
Payments											(310)
Non-Cash											0
Accrued Balance at end of period			19	19			304				19
Non-cash compensation \| Q3 2023 action
Restructuring Cost and Reserve [Line Items]
Total restructuring charges											28
Non-cash compensation due to accelerated vesting of equity awards											28
Restructuring Reserve [Roll Forward]
Accrued Balance at beginning of period						0					0
Income Statement Impact											28
Payments											0
Non-Cash											(28)
Accrued Balance at end of period			0	0			0				0
Non-cash compensation \| Q3 2023 action \| Forecast
Restructuring Cost and Reserve [Line Items]
Expected costs to be incurred due to reduction															$ 200
Non-cash compensation \| Q1 2023 action
Restructuring Cost and Reserve [Line Items]
Expected costs to be incurred due to reduction		$ 1,000
Total restructuring charges											1,066
Non-cash compensation due to accelerated vesting of equity awards											1,066
Restructuring Reserve [Roll Forward]
Accrued Balance at beginning of period						$ 0					0
Income Statement Impact											1,066
Payments											0
Non-Cash											(1,066)
Accrued Balance at end of period			$ 0	$ 0			$ 0				$ 0

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Accrued expenses and other current liabilities
Accrued advertising expense	$ 27,696	$ 37,703
Accrued compensation and benefits	10,693	11,444
Accrued professional fees	1,014	1,393
Customer deposits and escrows	7,282	7,273
Contribution to LendingTree Foundation	0	500
Current lease liabilities	8,442	8,513
Accrued restructuring and severance	2,002	304
Other	9,857	7,965
Total accrued expenses and other current liabilities	$ 66,986	$ 75,095