0001628280-26-016084 | 10-K | XBRL Viewer

LEASES

12 Months Ended

Dec. 31, 2025

The Company is a lessee to leases of corporate offices and certain office equipment. The majority of leases for corporate offices include one or more options to renew, with renewal terms ranging from two to five years. These renewal options have not been included in the calculation of right-of-use assets and lease liabilities, as the Company is not reasonably certain of the exercise of these renewal options. The Company used its incremental borrowing rate to calculate the right-of-use asset and lease liability for each lease.

As of December 31, 2025, right-of-use assets totaled $31.7 million and lease liabilities, the current portion of which is included in accrued expenses and other current liabilities in the accompanying balance sheet, totaled $48.0 million. At December 31, 2024, right-of-use assets totaled $52.6 million and lease liabilities totaled $75.0 million.

Lease expense, which is included in general and administrative expense on the accompanying consolidated statements of operations and comprehensive income (loss), consists of the following (in thousands):


	Year Ended December 31,
	2025		2024		2023
Operating lease cost	$	7,954	$	8,515	$	9,506
Short-term lease cost	69		41		26

Total lease cost	$	8,023	$	8,556	$	9,532

Weighted average remaining lease term and discount rate for operating leases are as follows:


	December 31, 2025		December 31, 2024		December 31, 2023
Weighted average remaining lease term	10.2 years		11.1 years		11.6 years
Weighted average discount rate	8.2	%	5.1	%	5.0	%

Supplemental cash flow information related to leases is as follows (in thousands):


	Year Ended December 31,
	2025		2024		2023
Net cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	9,879	$	11,355	$	13,705
Right-of-use assets obtained in exchange for new operating lease liabilities	$	84	$	17	$	861

Maturities of lease liabilities as of December 31, 2025 are as follows (in thousands):


	Operating Leases
Year ending December 31, 2026	$	8,186
Year ending December 31, 2027	6,448
Year ending December 31, 2028	6,017
Year ending December 31, 2029	6,176
Year ending December 31, 2030	6,339
Thereafter	39,856
Total lease payments	73,022
Less: Interest	25,031

Present value of lease liabilities	$	47,991

LEASES


	Year Ended December 31,
	2025		2024		2023
Operating lease cost	$	7,954	$	8,515	$	9,506
Short-term lease cost	69		41		26

Total lease cost	$	8,023	$	8,556	$	9,532

Weighted average remaining lease term and discount rate for operating leases are as follows:


	December 31, 2025		December 31, 2024		December 31, 2023
Weighted average remaining lease term	10.2 years		11.1 years		11.6 years
Weighted average discount rate	8.2	%	5.1	%	5.0	%

Supplemental cash flow information related to leases is as follows (in thousands):


	Year Ended December 31,
	2025		2024		2023
Net cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	9,879	$	11,355	$	13,705
Right-of-use assets obtained in exchange for new operating lease liabilities	$	84	$	17	$	861

Maturities of lease liabilities as of December 31, 2025 are as follows (in thousands):


	Operating Leases
Year ending December 31, 2026	$	8,186
Year ending December 31, 2027	6,448
Year ending December 31, 2028	6,017
Year ending December 31, 2029	6,176
Year ending December 31, 2030	6,339
Thereafter	39,856
Total lease payments	73,022
Less: Interest	25,031

Present value of lease liabilities	$	47,991

LEASES - Narrative (Details) $ in Thousands	12 Months Ended
LEASES - Narrative (Details) $ in Thousands	Dec. 31, 2025 USD ($) renewal_option	Dec. 31, 2024 USD ($)
Lessee, Lease, Description [Line Items]
Number of renewal options \| renewal_option	1
Operating lease right-of-use assets	$ 31,655	$ 52,557
Current lease liability, statement of financial position	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Operating lease, liability	$ 47,991	$ 75,000
Minimum
Lessee, Lease, Description [Line Items]
Renewal term	2 years
Maximum
Lessee, Lease, Description [Line Items]
Renewal term	5 years

LEASES - Schedule of supplemental cash flow (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating cash flows from operating leases	$ 9,879	$ 11,355	$ 13,705
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 84	$ 17	$ 861

CONTINGENCIES (Details) $ in Thousands	Dec. 31, 2025 USD ($) installment	Apr. 30, 2025 USD ($)	Dec. 31, 2024 USD ($)
Other Commitments [Line Items]
Accrued contingencies	$ 13,001		$ 3,868
Mantha v QuoteWizard
Other Commitments [Line Items]
Accrued litigation liabilities	$ 12,600	$ 19,000
Number of equal installments \| installment	3

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of components of the income tax expense (benefit)

The components of the income tax expense (benefit) are as follows (in thousands):


	Year Ended December 31,
	2025		2024		2023
Current income tax (benefit) expense:
Federal	$	104	$	587	$	1,155
State	(637)		940		1,022
Current income tax (benefit) expense	(533)		1,527		2,177
Deferred income tax (benefit) expense:
Federal	(100,510)		947		(3,383)
State	(29,241)		1,846		(1,309)
Deferred income tax (benefit) expense	(129,751)		2,793		(4,692)
Income tax (benefit) expense	$	(130,284)	$	4,320	$	(2,515)

Schedule of reconciliation of total income tax expense (benefit) to amounts computed by applying statutory federal income tax rate to income (loss) from continuing operations before income taxes

Upon adoption of ASU 2023-09, Improvements to Income Tax Disclosures, as described in Note 2—Significant Accounting Policies, the reconciliation of the income tax expense (benefit) to the amounts computed by applying the statutory federal income tax rate to income (loss) before income taxes is shown as follows (in thousands, except for percentages):


	Year Ended December 31,
	2025
Federal statutory income tax	$	4,415	21.0	%
State and local income taxes, net of federal effect	(23,711)		(112.8)	%
Foreign tax effects	57		0.3	%
Effect of cross-border tax laws:
Global intangible low-taxed income inclusion	420		2.0	%
Tax credits:
Research and experimentation tax credit	(1,547)		(7.4)	%
Increase (decrease) in valuation allowance	(114,973)		(546.9)	%
Nontaxable or nondeductible items:
Nondeductible executive compensation	3,562		16.9	%
Excess tax deductions on non-cash compensation	799		3.8	%
Other nontaxable or nondeductible	359		1.7	%
Changes in unrecognized tax benefits	232		1.1	%
Other, net	103		0.5	%
Income tax expense (benefit)	$	(130,284)	(619.7)	%

The reconciliation of the income tax expense (benefit) to the amounts computed by applying the statutory federal income tax rate to income (loss) before income taxes for the years ended December 31, 2024 and 2023 in accordance with the guidance prior to the adoption of ASU 2023-09 was as follows (in thousands):


	Year Ended December 31,
	2024		2023
Federal statutory income tax	$	(7,851)	$	(26,233)
State income taxes, net	(502)		(2,883)
Excess tax deductions on non-cash compensation	3,633		6,373
Research and experimentation tax credit	(1,500)		(1,512)
Nondeductible executive compensation	3,245		2,174
Increase (decrease) in valuation allowance	5,045		17,087

Remeasurement of state deferred tax	776		73
Expiration of state net operating loss carryforwards	535		595
Global intangible low-taxed income inclusion	420		420

Other, net	519		1,391
Income tax expense (benefit)	$	4,320	$	(2,515)

Schedule of components of the deferred tax assets and deferred tax liabilities

The tax effects of cumulative temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows (in thousands):


	December 31,
	2025		2024
Deferred tax assets:
Provision for accrued expenses	$	4,303	$	1,541
Leasing	11,991		19,053
Net operating loss carryforwards (a)	45,032		38,746
Capitalized research and experimentation	16,577		35,861
Non-cash compensation expense(b)	22,931		23,953
Property and equipment	1,985		833
Intangible assets	—		1,882
Interest	24,641		22,422


Equity investment	16,538		19,659
Tax credits	16,995		15,522
Other	61		71
Total gross deferred tax assets	161,054		179,543
Less: valuation allowance (c)	(18,008)		(167,549)
Total deferred tax assets, net of the valuation allowance	143,046		11,994
Deferred tax liabilities:
Leasing	(10,080)		(16,379)

Intangible and other assets	(7,617)		—
Prepaid expenses	(482)		(484)


Other	—		(15)
Total gross deferred tax liabilities	(18,179)		(16,878)
Net deferred taxes	$	124,867	$	(4,884)

(a)At December 31, 2025, the Company had pre-tax consolidated federal net operating losses (“NOLs”) of $148.8 million. The federal NOLs no longer expire under the Tax Cuts and Jobs Act. The Company's NOLs will be available to offset taxable income, subject to the Internal Revenue Code Section 382 annual limitation. In addition, the Company has state NOLs of approximately $423.1 million at December 31, 2025, a portion of which will expire at various times between 2026 and 2055.

(b)Certain out-of-the-money stock options are expected to expire unexercised, and as a result may be required to reverse the related deferred tax asset for share-based compensation, which could increase income tax expense and our effective tax rate in a future period.

(c)The valuation allowance is related to items for which it is “more likely than not” that the tax benefit will not be realized.

Deferred income taxes are presented in the accompanying consolidated balance sheets as follows (in thousands):


	December 31,
	2025		2024
Deferred income tax assets	$	124,867	$	—

Deferred income tax liabilities	—		(4,884)
Net deferred taxes	$	124,867	$	(4,884)

Schedule of the deferred tax valuation allowance reconciliation

A reconciliation of the beginning and ending balances of the deferred tax valuation allowance is as follows (in thousands):


	Year Ended December 31,
	2025		2024		2023
Balance, beginning of the period	$	167,549	$	162,504	$	145,401
Charges to earnings	(149,541)		5,045		17,103

Balance, end of the period	$	18,008	$	167,549	$	162,504

Schedule of reconciliation of beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties

A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties, is as follows (in thousands):


	Year Ended December 31,
	2025		2024
Balance, beginning of the period	$	3,721	$	3,424
Additions based on tax positions of the current period	225		225
Additions (subtractions) based on tax positions of the prior period	7		72
Balance, end of the period	$	3,953	$	3,721

Schedule of Income Taxes Paid

Upon adoption of ASU 2023-09, Improvements to Income Tax Disclosures, as described in Note 2—Significant Accounting Policies, cash paid for income taxes, net of refunds, during the year ended December 31, 2025 was as follows (in thousands):


Federal	$	305
Illinois	780
Other U.S. state and local	314
Foreign - India	135
Total income taxes paid, net of refunds received	$	1,534

COMMITMENTS

12 Months Ended

Dec. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS

Bonds

The Company has funding commitments that could potentially require performance in the event of demands by third parties or contingent events, as follows (in thousands):


	Commitments Due By Period
	Total		Less Than 1 year		1-3 years		3-5 years		More Than 5 years
Surety bonds (a)	$	3,243	$	3,243	$	—	$	—	$	—

(a) State laws and regulations generally require businesses which engage in mortgage brokering activity to maintain a mortgage broker or similar license. Mortgage brokering activity is generally defined to include, among other things, receiving valuable consideration for offering assistance to a buyer in obtaining a residential mortgage or soliciting financial and mortgage information from the public and providing that information to an originator of residential mortgage loans. The Company maintains surety bonds in all states requiring them in the event of a claim.

INCOME TAXES - Income Tax Expense (Benefit) Components (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Current income tax (benefit) expense:
Federal	$ 104	$ 587	$ 1,155
State	(637)	940	1,022
Current income tax (benefit) expense	(533)	1,527	2,177
Deferred income tax (benefit) expense:
Federal	(100,510)	947	(3,383)
State	(29,241)	1,846	(1,309)
Deferred income tax (benefit) expense	(129,751)	2,793	(4,692)
Income tax (benefit) expense	$ (130,284)	$ 4,320	$ (2,515)

- Definition

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

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+ Details

INCOME TAXES

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

INCOME TAXES

Income Tax Provision

The components of the income tax expense (benefit) are as follows (in thousands):


	Year Ended December 31,
	2025		2024		2023
Current income tax (benefit) expense:
Federal	$	104	$	587	$	1,155
State	(637)		940		1,022
Current income tax (benefit) expense	(533)		1,527		2,177
Deferred income tax (benefit) expense:
Federal	(100,510)		947		(3,383)
State	(29,241)		1,846		(1,309)
Deferred income tax (benefit) expense	(129,751)		2,793		(4,692)
Income tax (benefit) expense	$	(130,284)	$	4,320	$	(2,515)


	Year Ended December 31,
	2025
Federal statutory income tax	$	4,415	21.0	%
State and local income taxes, net of federal effect	(23,711)		(112.8)	%
Foreign tax effects	57		0.3	%
Effect of cross-border tax laws:
Global intangible low-taxed income inclusion	420		2.0	%
Tax credits:
Research and experimentation tax credit	(1,547)		(7.4)	%
Increase (decrease) in valuation allowance	(114,973)		(546.9)	%
Nontaxable or nondeductible items:
Nondeductible executive compensation	3,562		16.9	%
Excess tax deductions on non-cash compensation	799		3.8	%
Other nontaxable or nondeductible	359		1.7	%
Changes in unrecognized tax benefits	232		1.1	%
Other, net	103		0.5	%
Income tax expense (benefit)	$	(130,284)	(619.7)	%

State and local income taxes, net of federal benefit decreased the effective tax rate by 112.8% for the year ended December 31, 2025. The decrease was primarily due to the releases of valuation allowances against deferred tax assets in multiple state jurisdictions where the Company concluded it is more likely than not that certain deferred tax assets will be realized. Valuation allowances remain in place where realization of deferred tax assets is not considered more likely than not. The most significant impacts related to California and Illinois, which together represented more than 50% of the total state tax benefit. The remaining decrease was attributable to a combination of several other state jurisdictions.


	Year Ended December 31,
	2024		2023
Federal statutory income tax	$	(7,851)	$	(26,233)
State income taxes, net	(502)		(2,883)
Excess tax deductions on non-cash compensation	3,633		6,373
Research and experimentation tax credit	(1,500)		(1,512)
Nondeductible executive compensation	3,245		2,174
Increase (decrease) in valuation allowance	5,045		17,087

Remeasurement of state deferred tax	776		73
Expiration of state net operating loss carryforwards	535		595
Global intangible low-taxed income inclusion	420		420

Other, net	519		1,391
Income tax expense (benefit)	$	4,320	$	(2,515)

Deferred Income Taxes

The tax effects of cumulative temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows (in thousands):


	December 31,
	2025		2024
Deferred tax assets:
Provision for accrued expenses	$	4,303	$	1,541
Leasing	11,991		19,053
Net operating loss carryforwards (a)	45,032		38,746
Capitalized research and experimentation	16,577		35,861
Non-cash compensation expense(b)	22,931		23,953
Property and equipment	1,985		833
Intangible assets	—		1,882
Interest	24,641		22,422


Equity investment	16,538		19,659
Tax credits	16,995		15,522
Other	61		71
Total gross deferred tax assets	161,054		179,543
Less: valuation allowance (c)	(18,008)		(167,549)
Total deferred tax assets, net of the valuation allowance	143,046		11,994
Deferred tax liabilities:
Leasing	(10,080)		(16,379)

Intangible and other assets	(7,617)		—
Prepaid expenses	(482)		(484)


Other	—		(15)
Total gross deferred tax liabilities	(18,179)		(16,878)
Net deferred taxes	$	124,867	$	(4,884)

(c)The valuation allowance is related to items for which it is “more likely than not” that the tax benefit will not be realized.

Deferred income taxes are presented in the accompanying consolidated balance sheets as follows (in thousands):


	December 31,
	2025		2024
Deferred income tax assets	$	124,867	$	—

Deferred income tax liabilities	—		(4,884)
Net deferred taxes	$	124,867	$	(4,884)

Valuation Allowance

A valuation allowance is provided on deferred tax assets if it is determined that it is “more likely than not” that the deferred tax asset will not be realized. As of each reporting date, management considers both positive and negative evidence regarding the likelihood of future realization of the deferred tax assets.

During 2025, the Company recorded a tax benefit of $149.5 million to reduce the valuation allowance the Company established in 2022 against its net deferred tax assets. Management determined upon review of the deferred tax assets for recoverability that sufficient positive evidence existed to conclude a substantial portion of the valuation allowance was no longer needed. Based on sustained profitability, improved forecasts of future taxable income, and the reversal of existing temporary differences, management concluded that it is more likely than not that we will be able to utilize the deferred tax assets. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income. The Company maintains a valuation allowance of $18.0 million primarily related to certain states for which it estimates the net operating losses will expire prior to being utilized and other deferred tax assets related to equity investments for which it is not more likely than not that the deferred tax assets will be realized. In determining the amount of the remaining valuation allowance, the Company considered the scheduled reversal of deferred tax liabilities. Should there be a change in the valuation allowance in the future, the income tax provision would increase or decrease in the period in which the allowance is changed.

A reconciliation of the beginning and ending balances of the deferred tax valuation allowance is as follows (in thousands):


	Year Ended December 31,
	2025		2024		2023
Balance, beginning of the period	$	167,549	$	162,504	$	145,401
Charges to earnings	(149,541)		5,045		17,103

Balance, end of the period	$	18,008	$	167,549	$	162,504

Unrecognized Tax Benefits

A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties, is as follows (in thousands):


	Year Ended December 31,
	2025		2024
Balance, beginning of the period	$	3,721	$	3,424
Additions based on tax positions of the current period	225		225
Additions (subtractions) based on tax positions of the prior period	7		72
Balance, end of the period	$	3,953	$	3,721

Interest and, if applicable, penalties are recognized related to unrecognized tax benefits in income tax expense. Interest and penalties on unrecognized tax benefits included in income tax expense of an immaterial amount has been recognized for the tax years ended December 31, 2024 and 2023. For the year ended December 31, 2025 interest is not currently required to be recorded, as there have been no tax attributes included in income tax returns filed for those tax periods to require consideration of interest expense.

As of December 31, 2025 and 2024, the accrual for unrecognized tax benefits, including interest, was $4.0 million and $3.7 million, respectively, which would benefit the effective tax rate if recognized.


Federal	$	305
Illinois	780
Other U.S. state and local	314
Foreign - India	135
Total income taxes paid, net of refunds received	$	1,534

Tax Audits

LendingTree is subject to audits by federal, state and local authorities in the area of income tax. These audits include questioning the timing and the amount of deductions and the allocation of income among various tax jurisdictions. Income taxes payable include amounts considered sufficient to pay assessments that may result from examination of prior year returns; however, any amounts paid upon resolution of issues raised may differ from the amount provided. Differences between the reserves for tax contingencies and the amounts owed by the Company are recorded in the period they become known. As of December 31, 2025, the Company is subject to a federal income tax examination for the tax years 2015 through 2024. In addition, the Company is subject to state and local tax examinations for the tax years 2020 through 2024.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

SEGMENT INFORMATION (Details) $ in Thousands		12 Months Ended
SEGMENT INFORMATION (Details) $ in Thousands	Sep. 30, 2023 USD ($)	Dec. 31, 2025 USD ($) segment	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
SEGMENT INFORMATION
Number of operating segments \| segment		3
Number of reportable segments \| segment		3
Revenue		$ 1,117,324	$ 900,219	$ 672,502
Segment cost of revenue and marketing expense		765,277	590,651	382,748
Segment profit (loss)		352,047	309,568	289,754
Cost of revenue		42,525	36,072	38,758
Brand and other marketing expense		47,627	45,312	50,840
General and administrative expense		112,888	108,705	117,700
Product development		45,251	46,358	47,197
Depreciation		16,459	18,300	19,070
Amortization of intangibles		5,190	5,889	7,694
Goodwill impairment		0	0	38,600
Restructuring and severance		1,633	508	10,118
Litigation settlements and contingencies		15,661	3,797	388
Operating income (loss)		64,813	44,627	(40,611)
Interest (expense) income, net		(46,787)	(27,849)	21,685
Other income (expense)		2,998	(54,162)	(105,993)
Income (loss) before income taxes		21,024	(37,384)	(124,919)
Home
SEGMENT INFORMATION
Revenue		151,764	128,854	143,753
Segment cost of revenue and marketing expense		103,421	88,958	95,871
Segment profit (loss)		48,343	39,896	47,882
Goodwill impairment	$ 0
Consumer
SEGMENT INFORMATION
Revenue		253,370	222,462	278,945
Segment cost of revenue and marketing expense		123,922	111,925	140,068
Segment profit (loss)		129,448	110,537	138,877
Goodwill impairment	0
Insurance
SEGMENT INFORMATION
Revenue		711,880	548,704	249,605
Segment cost of revenue and marketing expense		537,463	389,474	146,101
Segment profit (loss)		174,417	159,230	103,504
Goodwill impairment	$ 38,600
Other
SEGMENT INFORMATION
Revenue		310	199	199
Segment cost of revenue and marketing expense		471	294	708
Segment profit (loss)		$ (161)	$ (95)	$ (509)

SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details)	12 Months Ended
	Dec. 31, 2025 USD ($) segment partner	Dec. 31, 2024 USD ($) partner	Dec. 31, 2023 USD ($) partner
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of reportable segments \| segment	3
Contingent consideration liability	$ 0
Advertising and promotion expense	$ 770,700,000	$ 595,900,000	$ 391,600,000
Number of network partners \| partner	1	2	0
Revenue from Contract with Customer Benchmark \| Customer Concentration Risk \| Partner One
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk	27.00%	22.00%
Revenue from Contract with Customer Benchmark \| Customer Concentration Risk \| Partner Two
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk		11.00%
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Hosting arrangement, amortization period	1 year
Minimum \| Software development
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Software development costs, depreciation period	1 year
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Hosting arrangement, amortization period	5 years
Maximum \| Software development
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Software development costs, depreciation period	5 years

LEASES (Tables)

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Summary of lease costs


	Year Ended December 31,
	2025		2024		2023
Operating lease cost	$	7,954	$	8,515	$	9,506
Short-term lease cost	69		41		26

Total lease cost	$	8,023	$	8,556	$	9,532

Weighted average remaining lease term and discount rate for operating leases are as follows:


	December 31, 2025		December 31, 2024		December 31, 2023
Weighted average remaining lease term	10.2 years		11.1 years		11.6 years
Weighted average discount rate	8.2	%	5.1	%	5.0	%

Schedule of supplemental cash flow

Supplemental cash flow information related to leases is as follows (in thousands):


	Year Ended December 31,
	2025		2024		2023
Net cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	9,879	$	11,355	$	13,705
Right-of-use assets obtained in exchange for new operating lease liabilities	$	84	$	17	$	861

Schedule of lease maturity

Maturities of lease liabilities as of December 31, 2025 are as follows (in thousands):


	Operating Leases
Year ending December 31, 2026	$	8,186
Year ending December 31, 2027	6,448
Year ending December 31, 2028	6,017
Year ending December 31, 2029	6,176
Year ending December 31, 2030	6,339
Thereafter	39,856
Total lease payments	73,022
Less: Interest	25,031

Present value of lease liabilities	$	47,991

STOCK-BASED COMPENSATION - Narrative (Details)	1 Months Ended	12 Months Ended
STOCK-BASED COMPENSATION - Narrative (Details)	Dec. 31, 2020 $ / shares	Dec. 31, 2025 USD ($) plan $ / shares shares	Dec. 31, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2021 shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of active plans \| plan		2
Expense due to acceleration of equity awards		$ 5,800,000
Income tax benefit related to non-cash compensation		3,400,000	$ 4,700,000	$ 7,400,000
Excess tax expense		900,000	4,400,000	7,800,000
Fair value of options vested		5,700,000	6,000,000.0	$ 11,900,000
Stock Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation cost		$ 0
Exercises in period (in shares) \| shares		0		0
Intrinsic value of stock options exercised			4,200,000
Proceeds from stock options exercised			1,400,000
Tax benefit realized			$ 0
Granted (in shares) \| shares		0	0	0
Granted (in dollars per share) \| $ / shares		$ 0
Performance Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Exercises in period (in shares) \| shares		0
Granted (in shares) \| shares		0	0	0
Granted (in dollars per share) \| $ / shares		$ 0
Performance awards earned (in shares) \| shares		0
Performance Options \| Chairman and Chief Executive Officer
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in dollars per share) \| $ / shares	$ 300
Exercise price premium (percentage)	25.00%
RSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation cost		$ 19,600,000
Weighted-average period for recognition of unrecognized compensation cost (in years)		1 year 8 months 12 days
Vested fair value		$ 16,300,000	$ 10,800,000	$ 6,900,000
Granted (in dollars per share) \| $ / shares		$ 42.31
Market-Based Restricted Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation cost		$ 2,600,000
Weighted-average period for recognition of unrecognized compensation cost (in years)		2 years 7 months 6 days
Vested fair value		$ 3,500,000	$ 1,200,000
Employee Stock Purchase Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock reserved for issuance (in shares) \| shares					262,731
Purchase price of common stock, percent					85.00%
Purchase period					6 months
Offering period					6 months
Shares purchased for award \| shares		42,270	45,690	64,549
Weighted average price of shares purchased (in dollars per share) \| $ / shares		$ 31.97	$ 28.10	$ 19.03
Cash proceeds from ESPP		$ 1,400,000	$ 1,300,000	$ 1,200,000
Number of shares available for issuance under the ESPP \| shares		74,304	116,574
Granted (in dollars per share) \| $ / shares		$ 14.00	$ 12.68	$ 8.51
Equity Award Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares authorized \| shares		3,100,000
Term of plan		10 years
Inducement Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares authorized \| shares		100,000
Term of plan		10 years

GOODWILL AND INTANGIBLE ASSETS - Goodwill and Intangible Assets (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Sep. 30, 2023	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Sep. 29, 2023
Goodwill [Line Items]
Goodwill		$ 903,227	$ 903,227	$ 903,227
Goodwill, Impaired, Accumulated Impairment Loss [Roll Forward]
Accumulated impairment loss, beginning balance		(521,688)	(521,688)
Accumulated impairment loss, changes in goodwill		0	0	(38,600)
Accumulated impairment loss, ending balance		(521,688)	(521,688)	(521,688)
Goodwill [Roll Forward]
Net goodwill, beginning balance		381,539	381,539
Changes in goodwill		0	0
Net goodwill, ending balance		381,539	381,539	$ 381,539
Intangible Assets
Intangible assets with indefinite lives		10,142	10,142
Intangible assets with definite lives, net		27,950	33,141
Total intangible assets, net		$ 38,092	$ 43,283
Share price (in dollars per share)		$ 53.09			$ 15.50
Home
Goodwill [Line Items]
Goodwill		$ 59,300
Goodwill, Impaired, Accumulated Impairment Loss [Roll Forward]
Accumulated impairment loss, changes in goodwill	$ 0
Consumer
Goodwill [Line Items]
Goodwill		166,100
Goodwill, Impaired, Accumulated Impairment Loss [Roll Forward]
Accumulated impairment loss, changes in goodwill	0
Insurance
Goodwill [Line Items]
Goodwill		$ 156,100
Goodwill, Impaired, Accumulated Impairment Loss [Roll Forward]
Accumulated impairment loss, changes in goodwill	$ (38,600)

DEBT - Schedule of Current and Long-Term Portion of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current Portion
Net carrying amount	$ 3,926	$ 124,931
Long-term Portion
Net carrying amount	387,694	344,124
Secured Debt \| 2024 Term Loan \| Line of Credit
Current Portion
Gross carrying amount	4,000	10,313
Debt issuance costs	37	169
Unamortized original issue discount	37	189
Net carrying amount	3,926	9,955
Long-term Portion
Gross carrying amount	395,000	349,062
Debt issuance costs	3,634	2,333
Unamortized original issue discount	3,672	2,605
Net carrying amount	$ 387,694	$ 344,124

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Statement [Abstract]
Revenue	$ 1,117,324	$ 900,219	$ 672,502
Costs and expenses:
Cost of revenue (exclusive of depreciation and amortization shown separately below)	42,525	36,072	38,758
Selling and marketing expense	812,904	635,963	433,588
General and administrative expense	112,888	108,705	117,700
Product development	45,251	46,358	47,197
Depreciation	16,459	18,300	19,070
Amortization of intangibles	5,190	5,889	7,694
Goodwill impairment	0	0	38,600
Restructuring and severance	1,633	508	10,118
Litigation settlements and contingencies	15,661	3,797	388
Total costs and expenses	1,052,511	855,592	713,113
Operating income (loss)	64,813	44,627	(40,611)
Other (expense) income, net:
Interest (expense) income, net	(46,787)	(27,849)	21,685
Other income (expense)	2,998	(54,162)	(105,993)
Income (loss) before income taxes	21,024	(37,384)	(124,919)
Income tax benefit (expense)	130,284	(4,320)	2,515
Net income (loss)	151,308	(41,704)	(122,404)
Comprehensive income (loss)	$ 151,308	$ (41,704)	$ (122,404)
Weighted average shares outstanding:
Basic (in shares)	13,584	13,269	12,941
Diluted (in shares)	14,062	13,269	12,941
Net income (loss) per share:
Basic (in dollars per share)	$ 11.14	$ (3.14)	$ (9.46)
Diluted (in dollars per share)	$ 10.78	$ (3.14)	$ (9.46)

LEASES - Summary of lease costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease cost	$ 7,954	$ 8,515	$ 9,506
Short-term lease cost	69	41	26
Total lease cost	$ 8,023	$ 8,556	$ 9,532
Weighted average remaining lease term	10 years 2 months 12 days	11 years 1 month 6 days	11 years 7 months 6 days
Weighted average discount rate	8.20%	5.10%	5.00%

REVENUE

12 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

REVENUE

Revenue is as follows (in thousands):


	Year Ended December 31,
	2025		2024		2023
Revenue:
Home	$	151,764	$	128,854	$	143,753

Personal loans	114,441		101,412		100,124
Other Consumer	138,929		121,050		178,821
Consumer	253,370		222,462		278,945
Insurance	711,880		548,704		249,605
Other	310		199		199
Total revenue	$	1,117,324	$	900,219	$	672,502

The total contract asset related to estimated variable consideration was $33.5 million and $20.5 million on December 31, 2025 and 2024, respectively. At December 31, 2025, $22.5 million was included in prepaid and other current assets on the consolidated balance sheet.

As the contract liability was in the Ovation business that was closed during 2023, there is no contract liability in the accompanying balance sheets. During 2023, the Company recognized revenue of $0.9 million that was included in the contract liability balance at December 31, 2022.

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. The Company recognized an increase for closing and approval fees of $0.4 million to such revenue from prior periods in 2025, an increase of $0.4 million to such revenue in 2024, and an immaterial increase to such revenue from prior periods in in 2023.

- 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 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
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-URI https://asc.fasb.org/606/tableOfContent

+ Details

FAIR VALUE MEASUREMENTS	12 Months Ended
FAIR VALUE MEASUREMENTS	Dec. 31, 2025
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Other than the equity investments, the carrying amounts of the Company's financial instruments are equal to fair value at December 31, 2025. See Note 7—Equity Investments in the notes to the consolidated financial statements included elsewhere in this report for additional information on the equity investments.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
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+ Details

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

12 Months Ended

Dec. 31, 2025

Payables and Accruals [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

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


	December 31, 2025		December 31, 2024
Accrued advertising expense	$	69,250	$	59,381
Accrued compensation and benefits	25,707		23,504
Accrued professional fees	1,141		1,311
Customer deposits and escrows	8,114		7,673

Current lease liabilities	4,394		5,799
Accrued contingencies	13,001		3,868
Other	5,196		5,649
Total accrued expenses and other current liabilities	$	126,803	$	107,185

EQUITY INVESTMENTS (Details) - USD ($) $ in Thousands		2 Months Ended	3 Months Ended				12 Months Ended
EQUITY INVESTMENTS (Details) - USD ($) $ in Thousands	Oct. 18, 2021	Dec. 31, 2021	Jun. 30, 2025	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2021	Jan. 31, 2022	Jan. 06, 2021	Feb. 28, 2020
Schedule of Equity Method Investments [Line Items]
Impairment of long-lived assets						$ 1,400	$ 0	$ 0	$ 38,600
Equity investments, carrying value							475	$ 1,700
Stash Financial, Inc.
Schedule of Equity Method Investments [Line Items]
Equity method investment	$ 18,400											$ 1,200	$ 80,000
Proceeds from the sale of fixed assets	$ 46,300
Realized gain from sale of equity method investment		$ 27,900
Unrealized gain on equity method investment										$ 95,400
Impairment of long-lived assets			$ 1,200	$ 43,400	$ 113,100
Equity investments, carrying value							$ 500
EarnUp Inc.
Schedule of Equity Method Investments [Line Items]
Equity method investment											$ 15,000
Impairment of long-lived assets				$ 15,000

- Definition

This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.

+ References + Details

- 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

SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2025

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 CODM, the Company’s Chief Executive Officer, 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 Consumer segment includes the following products: credit cards, personal loans, small business 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. In the fourth quarter of 2024, the Company made the decision to cease offering its student loan products. The Insurance segment consists of insurance quote products and sales of insurance policies in our agency businesses. The insurance agency business was closed in the second quarter of 2025.

The following tables are a reconciliation of segment profit, which is the Company's primary segment profitability measure, to income before income taxes. Segment cost of revenue and 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.


	Year Ended December 31, 2025
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	151,764	$	253,370	$	711,880	$	310	$	1,117,324
Segment cost of revenue and marketing expense	103,421		123,922		537,463		471		765,277
Segment profit (loss)	48,343		129,448		174,417		(161)		352,047
Cost of revenue									42,525
Brand and other marketing expense									47,627
General and administrative expense									112,888
Product development									45,251
Depreciation									16,459
Amortization of intangibles									5,190


Restructuring and severance									1,633
Litigation settlements and contingencies									15,661
Operating income									64,813
Interest expense, net									(46,787)
Other income									2,998
Income before income taxes									$	21,024


	Year Ended December 31, 2024
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	128,854	$	222,462	$	548,704	$	199	$	900,219
Segment cost of revenue and marketing expense	88,958		111,925		389,474		294		590,651
Segment profit (loss)	39,896		110,537		159,230		(95)		309,568
Cost of revenue									36,072
Brand and other marketing expense									45,312
General and administrative expense									108,705
Product development									46,358
Depreciation									18,300
Amortization of intangibles									5,889

Restructuring and severance									508
Litigation settlements and contingencies									3,797
Operating income									44,627
Interest expense, net									(27,849)
Other expense									(54,162)
Loss before income taxes									$	(37,384)


	Year Ended December 31, 2023
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	143,753	$	278,945	$	249,605	$	199	$	672,502
Segment cost of revenue and marketing expense	95,871		140,068		146,101		708		382,748
Segment profit (loss)	47,882		138,877		103,504		(509)		289,754
Cost of revenue									38,758
Brand and other marketing expense									50,840
General and administrative expense									117,700
Product development									47,197
Depreciation									19,070
Amortization of intangibles									7,694
Goodwill impairment									38,600
Restructuring and severance									10,118
Litigation settlements and contingencies									388
Operating loss									(40,611)
Interest income, net									21,685
Other expense									(105,993)
Loss before income taxes									$	(124,919)

The CODM does not review information on segment assets and as such, no segment asset information is reported herein.

- 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

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+ Details

GOODWILL AND INTANGIBLE ASSETS - Definite Lived Intangibles Amortization (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Amortization of intangible assets with definite lives computed on a straight-line basis
2026	$ 5,092
2027	4,948
2028	4,539
2029	2,767
2030	2,767
Thereafter	7,837
Net	$ 27,950	$ 33,141

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Cybersecurity is critical to our ongoing business as a provider of online marketplaces where consumers shop for financial services. Securing our business information, intellectual property, consumer, customer and employee data and technology systems is essential for the continuity of our business, meeting applicable regulatory requirements and maintaining the trust of our stakeholders. To help protect the Company from a major cybersecurity incident that could have a material impact on operations or our financial results, we have implemented policies, procedures, programs and controls, including technology investments that focus on cybersecurity incident prevention, identification and mitigation. The steps we take to reduce our vulnerability to cyberattacks and to mitigate impacts from cybersecurity incidents include but are not limited to: establishing information security policies and standards, implementing information protection processes and technologies, monitoring our information technology systems for cybersecurity threats, assessing cybersecurity risk profiles of key third-parties, engaging third party experts and implementing cybersecurity training for our employees. Our cybersecurity risk management program leverages the National Institute of Standards and Technology (“NIST”) framework, which organizes cybersecurity risks into five categories: identify, protect, detect, respond and recover. We regularly assess the threat landscape and take a holistic view of cybersecurity risks, with a layered cybersecurity strategy based on prevention, detection and mitigation. We regularly test defenses by performing simulations and drills at both a technical level (including through penetration tests) and by reviewing our operational policies and procedures. At the management level, our IT security team regularly monitors alerts and meets to discuss threat levels, trends and remediation. The team also prepares a monthly cyber scorecard, regularly collects data on cybersecurity threats and risk areas and conducts an annual cybersecurity risk assessment. Further, we conduct periodic external penetration tests to assess our processes and procedures and the threat landscape. These tests and assessments are useful tools for maintaining a cybersecurity program to protect our investors, consumers, customers, employees, vendors, and intellectual property. Additionally, we follow a cybersecurity incident response process that provides a framework for responding to cybersecurity incidents. The process identifies applicable requirements for incident disclosure and reporting and also provides protocols for incident evaluation, including the use of third-party service providers and partners, processes for notification and internal escalation of information to our senior management, the Board and the audit committee. It also addresses requirements for our external reporting obligations. The cybersecurity incident response process is reviewed and updated, as necessary, under the leadership of the Company’s Chief Information Security Officer and General Counsel. We face a number of cybersecurity risks in connection with our business. Although we did not experience a material cybersecurity incident during the year ended December 31, 2025, the scope and impact of any future incident cannot be predicted. Notwithstanding the approach we take to cybersecurity, we may not be successful in preventing or mitigating a cybersecurity incident that could have a material adverse effect on our business, results of operations, or financial condition. See “Item 1A. Risk Factors” for more information on our cybersecurity-related risks.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Cybersecurity is critical to our ongoing business as a provider of online marketplaces where consumers shop for financial services. Securing our business information, intellectual property, consumer, customer and employee data and technology systems is essential for the continuity of our business, meeting applicable regulatory requirements and maintaining the trust of our stakeholders. To help protect the Company from a major cybersecurity incident that could have a material impact on operations or our financial results, we have implemented policies, procedures, programs and controls, including technology investments that focus on cybersecurity incident prevention, identification and mitigation. The steps we take to reduce our vulnerability to cyberattacks and to mitigate impacts from cybersecurity incidents include but are not limited to: establishing information security policies and standards, implementing information protection processes and technologies, monitoring our information technology systems for cybersecurity threats, assessing cybersecurity risk profiles of key third-parties, engaging third party experts and implementing cybersecurity training for our employees. Our cybersecurity risk management program leverages the National Institute of Standards and Technology (“NIST”) framework, which organizes cybersecurity risks into five categories: identify, protect, detect, respond and recover. We regularly assess the threat landscape and take a holistic view of cybersecurity risks, with a layered cybersecurity strategy based on prevention, detection and mitigation.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Cybersecurity risk oversight is a top priority for management and our board of directors. Management is responsible for the day-to-day management of cybersecurity risks we face, while our board of directors, as a whole and through committees, is responsible for the oversight of risk management. Our Chief Information Security Officer (“CISO”) is responsible for the assessment and management of cybersecurity risk. The individual currently serving as our CISO has over twenty-five years of experience in cybersecurity, information security, and risk management within the financial services industry. The CISO reports to our Chief Executive Officer (“CEO”) and provides updates to him on a regular basis of any cybersecurity matters. Our board of directors oversees the management of our risks from cybersecurity threats. The board of directors has delegated the responsibility for the oversight of our cybersecurity risks program to the Audit Committee. The CISO provides cybersecurity updates to our Audit Committee as needed but at least on a quarterly basis covering cybersecurity matters, including a security scorecard, updates on policies, significant incidents or new developments in our cybersecurity risk profile. Our incident response process contemplates that management will notify the audit committee of a material cybersecurity incident.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our board of directors oversees the management of our risks from cybersecurity threats. The board of directors has delegated the responsibility for the oversight of our cybersecurity risks program to the Audit Committee. The CISO provides cybersecurity updates to our Audit Committee as needed but at least on a quarterly basis covering cybersecurity matters, including a security scorecard, updates on policies, significant incidents or new developments in our cybersecurity risk profile. Our incident response process contemplates that management will notify the audit committee of a material cybersecurity incident.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The CISO provides cybersecurity updates to our Audit Committee as needed but at least on a quarterly basis covering cybersecurity matters, including a security scorecard, updates on policies, significant incidents or new developments in our cybersecurity risk profile. Our incident response process contemplates that management will notify the audit committee of a mater
Cybersecurity Risk Role of Management [Text Block]	Cybersecurity risk oversight is a top priority for management and our board of directors. Management is responsible for the day-to-day management of cybersecurity risks we face, while our board of directors, as a whole and through committees, is responsible for the oversight of risk management. Our Chief Information Security Officer (“CISO”) is responsible for the assessment and management of cybersecurity risk. The individual currently serving as our CISO has over twenty-five years of experience in cybersecurity, information security, and risk management within the financial services industry. The CISO reports to our Chief Executive Officer (“CEO”) and provides updates to him on a regular basis of any cybersecurity matters. Our board of directors oversees the management of our risks from cybersecurity threats. The board of directors has delegated the responsibility for the oversight of our cybersecurity risks program to the Audit Committee. The CISO provides cybersecurity updates to our Audit Committee as needed but at least on a quarterly basis covering cybersecurity matters, including a security scorecard, updates on policies, significant incidents or new developments in our cybersecurity risk profile. Our incident response process contemplates that management will notify the audit committee of a material cybersecurity incident.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our Chief Information Security Officer (“CISO”) is responsible for the assessment and management of cybersecurity risk. The individual currently serving as our CISO has over twenty-five years of experience in cybersecurity, information security, and risk management within the financial services industry. The CISO reports to our Chief Executive Officer (“CEO”) and provides updates to him on a regular basis of any cybersecurity matters.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	The individual currently serving as our CISO has over twenty-five years of experience in cybersecurity, information security, and risk management within the financial services industry.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Cybersecurity risk oversight is a top priority for management and our board of directors. Management is responsible for the day-to-day management of cybersecurity risks we face, while our board of directors, as a whole and through committees, is responsible for the oversight of risk management. Our Chief Information Security Officer (“CISO”) is responsible for the assessment and management of cybersecurity risk. The individual currently serving as our CISO has over twenty-five years of experience in cybersecurity, information security, and risk management within the financial services industry. The CISO reports to our Chief Executive Officer (“CEO”) and provides updates to him on a regular basis of any cybersecurity matters.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

BENEFIT PLANS (Details) - USD ($)	12 Months Ended
BENEFIT PLANS (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Defined Contribution Plan Disclosure [Line Items]
Maximum contribution by employees as a percentage of pre-tax earnings	50.00%
Generally the maximum amount a participant may contribute in accordance with statutory limits	$ 23,500	$ 23,000	$ 22,500
Matching contribution per participant dollar contributed	$ 0.50
Maximum contribution by employer (percentage)	6.00%
Matching contribution made by the entity	$ 2,600,000	$ 2,300,000	$ 2,200,000
Service period one
Defined Contribution Plan Disclosure [Line Items]
Requisite service period for matching contribution	1 year
Employer matching contribution, vested percentage	33.00%
Service period two
Defined Contribution Plan Disclosure [Line Items]
Requisite service period for matching contribution	2 years
Employer matching contribution, vested percentage	66.00%
Service period three and after
Defined Contribution Plan Disclosure [Line Items]
Requisite service period for matching contribution	3 years
Employer matching contribution, vested percentage	100.00%

SIGNIFICANT ACCOUNTING POLICIES - Schedule of Depreciation Period for Each Asset Category (Details )	Dec. 31, 2025
Computer equipment and capitalized software \| Minimum
Property, Plant and Equipment [Line Items]
Depreciation period (in years)	1 year
Computer equipment and capitalized software \| Maximum
Property, Plant and Equipment [Line Items]
Depreciation period (in years)	5 years
Furniture and other equipment
Property, Plant and Equipment [Line Items]
Depreciation period (in years)	7 years

STOCK-BASED COMPENSATION - Schedules - Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Sep. 29, 2023
Aggregate Intrinsic Value
Share price (in dollars per share)	$ 53.09			$ 15.50
Stock Options
Number of Options
Outstanding at the beginning of the period (in shares)	371,386
Granted (in shares)	0	0	0
Exercised (in shares)	0		0
Forfeited (in shares)	0
Expired (in shares)	(11,909)
Outstanding at the end of the period (in shares)	359,477	371,386
Options exercisable at the end of the period (in shares)	359,477
Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 226.17
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Forfeited (in dollars per share)	0
Expired (in dollars per share)	144.89
Outstanding at the end of the period (in dollars per share)	228.86	$ 226.17
Options exercisable at the end of the period (in dollars per share)	$ 228.86
Weighted Average Remaining Contractual Term
Outstanding at the end of the period (in years)	2 years 6 months 3 days
Options exercisable at the end of the period (in years)	2 years 6 months 3 days
Aggregate Intrinsic Value
Outstanding at the end of the period	$ 0
Options exercisable at the end of the period	$ 0

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net income (loss)	$ 151,308	$ (41,704)	$ (122,404)
Adjustments to reconcile net income (loss) to net cash provided by operating activities
(Gain) loss on impairments and disposal of assets	(71)	2,584	5,437
Amortization of intangibles	5,190	5,889	7,694
Depreciation	16,459	18,300	19,070
Non-cash compensation expense	29,457	28,579	39,682
Deferred income taxes	(129,751)	2,793	(4,692)
Bad debt expense	264	171	1,752
Amortization of debt issuance costs	1,609	2,168	3,137
Amortization of debt discount	498	331	0
Reduction in carrying amount of ROU asset, offset by change in operating lease liabilities	(1,926)	(2,839)	(4,404)
Gain on settlement of convertible debt	(266)	(9,035)	(48,562)
Impairment of long-lived assets	0	0	38,600
Changes in assets and liabilities:
Accounts receivable	(13,056)	(43,007)	27,706
Prepaid and other assets	(13,586)	(4,747)	(2,977)
Accounts payable, accrued expenses and other current liabilities	19,990	44,581	(5,541)
Income taxes receivable	(2,166)	96	(140)
Other, net	64	(278)	(1,291)
Net cash provided by operating activities	73,103	62,258	67,571
Cash flows from investing activities
Capital expenditures	(12,423)	(11,220)	(12,528)
Proceeds from the sale of fixed assets	2,497	0	0
Other investing activities	0	2	50
Net cash used in investing activities	(9,926)	(11,218)	(12,478)
Cash flows from financing activities
Payments related to net-share settlement of stock-based compensation, net of proceeds from exercise of stock options	(2,789)	(2,186)	(1,088)
Proceeds from term loan	450,000	125,000	0
Repayment of term loan	(410,375)	(12,500)	(1,875)
Payment of debt issuance costs	(5,095)	(4,300)	(1,580)
Payment of original issue discount on term loan	(4,000)	(3,125)	0
Other financing activities	0	(552)	1
Net cash used in financing activities	(88,698)	(56,502)	(242,006)
Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents	(25,521)	(5,462)	(186,913)
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period	106,594	112,056	298,969
Cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period	81,073	106,594	112,056
Non-cash investing activities:
Increase (decrease) in capital expenditures included in accounts payable and accrued expenses	(170)	128	(377)
Supplemental cash flow information:
Interest paid	37,203	38,203	23,685
Income tax payments	1,772	1,676	1,283
Income tax refunds	238	220	100
Convertible Debt
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Loss on impairment of equity investments	1,225	58,376	114,504
Secured Debt
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Loss on impairment of equity investments	7,861	0	0
2025 Convertible Notes
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Amortization of debt issuance costs	300	1,000	2,200
Gain on settlement of convertible debt		(10,100)	(53,300)
Cash flows from financing activities
Repayment and repurchase of 0.50% Convertible Senior Notes	(115,007)	(158,839)	(237,464)
Payment of revolver issuance costs	$ (1,432)	$ 0	$ 0

SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Schedule of reconciliation of the allowance for doubtful accounts

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


	Year Ended December 31,
	2025		2024		2023
Balance, beginning of the period	$	1,407	$	2,222	$	2,317
Charges to earnings	264		171		1,752
Write-off of uncollectible accounts receivable	(369)		(986)		(2,274)
Recoveries collected	20		—		56
Assets held for sale	—		—		371
Balance, end of the period	$	1,322	$	1,407	$	2,222

Schedule of depreciation period for each asset category

The following table presents the estimated useful lives for each asset category:


Asset Category			Estimated Useful Lives



Computer equipment and capitalized software			1 to 5 years
Leasehold improvements			Lesser of asset life or life of lease
Furniture and other equipment			7 years

RESTRUCTURING ACTIVITIES

12 Months Ended

Dec. 31, 2025

Restructuring and Related Activities [Abstract]

RESTRUCTURING ACTIVITIES

During September 2023, the Company initiated workforce reductions of 14 employees. The Company incurred 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 and non-cash charges for the accelerated vesting of certain equity awards of approximately $0.2 million. The cash payments were 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 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. In connection with the Ovation Closure, in the first quarter of 2023, 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 cash payments for the Ovation Closure were completed in 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 workforce. As a result of the Reduction Plan, the Company incurred 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 Reduction Plan, including cash payments, was completed by the end of the third quarter of 2024.


	Accrued Balance at December 31, 2023		Income Statement Impact		Payments		Accrued Balance at December 31, 2024
Q3 2023 action
Employee separation payments	254		(7)		(247)		—
Q2 2023 action
Employee separation payments	34		4		(38)		—
Q1 2023 action
Employee separation payments	421		15		(436)		—
	$	709	$	12	$	(721)	$	—

PROPERTY AND EQUIPMENT - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Property, Plant and Equipment [Line Items]
Total gross property and equipment	$ 61,221	$ 76,155
Accumulated depreciation	(28,387)	(33,375)
Total property and equipment, net	32,834	42,780
Computer equipment and capitalized software
Property, Plant and Equipment [Line Items]
Total gross property and equipment	29,605	32,415
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total gross property and equipment	24,052	29,206
Furniture and other equipment
Property, Plant and Equipment [Line Items]
Total gross property and equipment	5,626	6,864
Aircraft
Property, Plant and Equipment [Line Items]
Total gross property and equipment	0	2,598
Projects in progress
Property, Plant and Equipment [Line Items]
Total gross property and equipment	$ 1,938	$ 5,072

RELATED PARTY TRANSACTIONS (Details) $ in Millions	3 Months Ended
RELATED PARTY TRANSACTIONS (Details) $ in Millions	Dec. 31, 2022 USD ($)
Related Party Transactions [Abstract]
Additional approved value	$ 0.5

EARNINGS PER SHARE and SHAREHOLDERS' EQUITY - Schedule of computation of basic and diluted (loss) earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Net Income (Loss) Available to Common Stockholders, Basic [Abstract]
Net income (loss)	$ 151,308	$ (41,704)	$ (122,404)
Add back interest expense, net of tax attributable to assumed conversion of convertible senior notes	234	0	0
Net income (loss) attributable to common stockholders-diluted	$ 151,542	$ (41,704)	$ (122,404)
Weighted average basic common shares (in shares)	13,584	13,269	12,941
Effect of stock options (in shares)	0	0	0
Effect of dilutive share awards (in shares)	358	0	0
Dilutive effect of assumed conversion of convertible senior notes (in shares)	120	0	0
Weighted average diluted common shares (in shares)	14,062	13,269	12,941
Net income (loss) attributable to common shareholders-basic (in dollars per share)	$ 11.14	$ (3.14)	$ (9.46)
Net income (loss) attributable to common shareholders-diluted (in dollars per share)	$ 10.78	$ (3.14)	$ (9.46)

RESTRUCTURING ACTIVITIES (Details) $ in Thousands			1 Months Ended	3 Months Ended	12 Months Ended
RESTRUCTURING ACTIVITIES (Details) $ in Thousands	Apr. 06, 2023 USD ($) employee	Mar. 24, 2023 USD ($) employee	Sep. 30, 2023 USD ($) employee	Mar. 31, 2023 USD ($)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring and severance					$ 1,633	$ 508	$ 10,118
Restructuring Reserve [Roll Forward]
Income Statement Impact					1,633	508	10,118
2022 and 2023 Reduction Action
Restructuring Cost and Reserve [Line Items]
Restructuring and severance						12
Restructuring Reserve [Roll Forward]
Accrued Balance, beginning of period					0	709
Income Statement Impact						12
Payments						(721)
Accrued Balance, end of period						0	709
Q3 2023 action
Restructuring Cost and Reserve [Line Items]
Number of employee positions estimated to be eliminated in workforce reduction \| employee			14
Restructuring and severance			$ 900
Restructuring Reserve [Roll Forward]
Income Statement Impact			900
Q2 2023 action
Restructuring Cost and Reserve [Line Items]
Number of employee positions estimated to be eliminated in workforce reduction \| employee	197
Restructuring and severance	$ 2,100
Percentage of workforce eliminated	18.00%
Impairment charge				$ 4,200
Impairment related to intangible assets				$ 2,100
Impairment, Intangible Asset, Statement of Income or Comprehensive Income [Extensible Enumeration]				Intangible assets, net
Impairment related to property and equipment				$ 1,700
Impairment related to operating lease right of use asset				$ 400
Restructuring Reserve [Roll Forward]
Income Statement Impact	$ 2,100
Q1 2023 action
Restructuring Cost and Reserve [Line Items]
Number of employee positions estimated to be eliminated in workforce reduction \| employee		162
Restructuring and severance		$ 5,300
Percentage of workforce eliminated		13.00%
Restructuring Reserve [Roll Forward]
Income Statement Impact		$ 5,300
Employee separation payments \| Q3 2023 action
Restructuring Cost and Reserve [Line Items]
Restructuring and severance			700			(7)
Restructuring Reserve [Roll Forward]
Accrued Balance, beginning of period					0	254
Income Statement Impact			700			(7)
Payments						(247)
Accrued Balance, end of period						0	254
Employee separation payments \| Q2 2023 action
Restructuring Cost and Reserve [Line Items]
Restructuring and severance						4
Restructuring Reserve [Roll Forward]
Accrued Balance, beginning of period					0	34
Income Statement Impact						4
Payments						(38)
Accrued Balance, end of period						0	34
Employee separation payments \| Q1 2023 action
Restructuring Cost and Reserve [Line Items]
Restructuring and severance		4,300				15
Restructuring Reserve [Roll Forward]
Accrued Balance, beginning of period					$ 0	421
Income Statement Impact		4,300				15
Payments						(436)
Accrued Balance, end of period						$ 0	$ 421
Non-Cash Compensation \| Q3 2023 action
Restructuring Cost and Reserve [Line Items]
Restructuring and severance			200
Restructuring Reserve [Roll Forward]
Income Statement Impact			$ 200
Non-Cash Compensation \| Q1 2023 action
Restructuring Cost and Reserve [Line Items]
Restructuring and severance		1,000
Restructuring Reserve [Roll Forward]
Income Statement Impact		$ 1,000

ORGANIZATION	12 Months Ended
ORGANIZATION	Dec. 31, 2025
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, small business loans, insurance quotes 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 consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”).

SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Revenue Recognition

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. In identifying performance obligations, judgment is required around contracts where there was a possibility of bundled services and multiple parties. In applying judgment, the Company considers customer expectations of performance, materiality and the core principles of Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers. The Company's services are generally transferred to the customer at a point in time.

Variable consideration is included in revenue if it is probable that a significant future reversal of cumulative revenue under the contract will not occur.

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 and approval 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 was expected to remain a customer and receive services. Subscription fees were recognized over the period a consumer was receiving services. As of the second quarter of 2023, the Company discontinued providing its credit services product to consumers and no longer receives upfront fees and subscription fees.

Under ASC Topic 606, the timing of recognizing revenue for closing fees and approval fees is accelerated to the point when a loan request or a credit card consumer is delivered to the customer, as opposed to when the consumer loan is closed by the lender or credit card approval is made by the issuer. 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. The current portion of the contract asset is recorded within prepaid expenses and other current assets and the non-current portion is recorded within other non-current assets on the consolidated balance sheets based on the expected timing of future closed loans or approvals by issuers. The closing fee on an original loan and approval 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. The closing fee on a renewal loan is estimated using historical renewal and commission rates. The time between satisfaction of the Company's performance obligation and when the Company's right to consideration becomes unconditional varies across products but is generally less than 90 days for auto loans, personal loans, and credit card approvals. The time between satisfaction of the Company's performance obligation and when the Company's right to consideration becomes unconditional for small business loans is approximately 5 years.

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.

Our payment terms vary by customer and services offered. The term between invoicing and when payment is due is generally 30 days or less.

Sales commissions are incremental costs of obtaining contracts with customers. The Company expenses sales commissions when incurred as the duration of contracts with customers is less than one year, based on the right of either party to terminate the contract with less than one year's notice without compensation to either party. These costs are recorded within selling and marketing expense on the consolidated statements of operations and comprehensive income (loss).

Cash and Cash Equivalents

Cash and cash equivalents include cash and short-term, highly liquid money market investments with original maturities of three months or less.

Restricted Cash

Cash escrowed or contractually restricted for a specific purpose is designated as restricted cash.

Accounts Receivable

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.

Segment Reporting

The Company has three 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, or CODM, for the purpose of assessing performance and allocating resources.

Property and Equipment

Property and equipment, including internally-developed software and significant improvements, are recorded at cost less accumulated depreciation. Due to the rapid advancements in technology and evolution of company products, all internally-developed software is written off at the end of its useful life. Repairs and maintenance and any gains or losses on dispositions are recognized as incurred in current operations.

Depreciation is recorded on a straight-line basis to allocate the cost of depreciable assets to operations over their estimated service lives. The following table presents the estimated useful lives for each asset category:


Asset Category			Estimated Useful Lives



Computer equipment and capitalized software			1 to 5 years
Leasehold improvements			Lesser of asset life or life of lease
Furniture and other equipment			7 years

Hosting Arrangement that is a Service Contract

Qualifying implementation costs incurred in a hosting arrangement that is a service contract are capitalized and deferred on a straight-line basis over the term of the hosting arrangement, which is typically one to five years. These costs are capitalized to prepaid and other current assets and other non-current assets on the balance sheet, and the associated amortization expense is included within general and administrative expense on the statement of operations and comprehensive income (loss). The majority of such capitalized implementation costs arise from internal and external labor associated with software development

Software Development Costs

Software development costs primarily include internal and external labor expenses incurred to develop the software that powers the Company's websites. Certain costs incurred during the application development stage are capitalized, either as property and equipment or as a hosting arrangement that is a service contract, based on specific activities tracked, while costs incurred during the preliminary project stage and post-implementation/operation stage are expensed as incurred. Capitalized software development costs are amortized over an estimated useful life of one to five years.

Goodwill and Indefinite-Lived Intangible Assets

Goodwill acquired in business combinations is assigned to the reporting units that are expected to benefit from the combination as of the acquisition date. Goodwill and indefinite-lived intangible assets, consisting of certain trade names and trademarks, are not amortized. Rather, these assets are tested annually for impairment as of October 1, or more frequently upon the occurrence of certain events or substantive changes in circumstances.

As part of its annual impairment testing of goodwill and indefinite-lived intangible assets, in each instance, the Company may elect to assess qualitative factors as a basis for determining whether it is necessary to perform the traditional quantitative impairment testing. If the Company’s assessment of these qualitative factors indicates that it is not more likely than not that the fair value of the reporting unit or indefinite-lived intangible asset is less than its carrying value, then no further testing is required. Otherwise, the goodwill reporting unit or long-lived intangible assets, as applicable, must be quantitatively tested for impairment.

The quantitative impairment test for goodwill involves a comparison of the fair value of a reporting unit with its carrying amount, including goodwill. The Company determines the fair value of its reporting units by using a market approach and a discounted cash flow (“DCF”) analysis. Determining fair value using a DCF analysis and market analysis requires the exercise of significant judgments, including judgments about appropriate discount rates, revenue growth rates, marketing spend, direct operating expenses, the amount and timing of expected future cash flows, and market multiples. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not impaired. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss is recognized in an amount equal to that excess.

The quantitative impairment test for indefinite-lived intangible assets involves a comparison of the estimated fair value of the intangible asset with its carrying value. If the carrying value of the indefinite-lived intangible asset exceeds its estimated fair value, an impairment loss is recognized in an amount equal to that excess. The estimates of fair value of indefinite-lived intangible assets are determined using a DCF valuation analysis that employs a relief-from-royalty methodology in estimating the fair value of trade names and trademarks. Significant judgments inherent in this analysis include the determination of royalty rates, discount rates, perpetual growth rates and the amount and timing of future revenues.

Results of the October 1, 2025, 2024 and 2023 qualitative annual impairment tests indicated that it is not more likely than not that the fair value of the goodwill and the indefinite-lived intangible assets were each less than their respective carrying values. Accordingly, no further testing was required.

Long-Lived Assets and Intangible Assets with Definite Lives

Long-lived assets include property and equipment, definite-lived intangible assets and operating lease right-of-use assets. Amortization of definite-lived intangible assets is recorded on a straight-line basis over their estimated lives.

Capitalized implementation costs incurred in a hosting arrangement that is a service contract are also allocated to and included within long-lived asset groups tested for recoverability.

Long-lived asset groups are tested for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. The carrying amount of a long-lived asset group is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset group. If the carrying amount is deemed to not be recoverable, an impairment loss is recorded as the amount by which the carrying amount of the long-lived asset group exceeds its fair value.

Assets and Liabilities Held for Sale

The Company classifies assets or disposal groups to be sold as held for sale in the period in which all of the following criteria are met:

•Management, having the authority to approve the action, commits to a plan to sell the asset or disposal group;

•The asset or disposal group is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets or disposal groups;

•An active program to locate a buyer and other actions required to complete the plan to sell the asset or disposal group have been initiated;

•The sale of the asset or disposal group is probable and transfer of the asset or disposal group is expected to qualify for recognition as a completed sale within one year, except if events or circumstances beyond the Company's control extend the period of time required to sell the asset or disposal group beyond one year;

•The asset or disposal group is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and

•Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.

A long-lived asset or disposal group that is classified as held for sale is initially measured at the lower of its carrying value or fair value less any costs to sell. Any loss resulting from this measurement is recognized in the period in which the held-for-sale criteria are met. Conversely, gains are not recognized on the sale of a long-lived asset or disposal group until the date of sale. The fair value of a long-lived asset or disposal group, less any costs to sell, is assessed each reporting period it remains classified as held for sale and any subsequent changes are reported as an adjustment to the carrying value of the asset or disposal group, as long as the new carrying value does not exceed the carrying value of the asset at the time it was initially classified as held for sale.

Equity Investments

The equity investments do not have a readily determinable fair value and, upon acquisition, the Company elected the measurement alternative to value its investments. Accordingly, the equity investments 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. Additionally, if a qualitative assessment identifies impairment indicators, then the equity investments must be evaluated for impairment and written down to its fair value, if it is determined that the fair value is less than the carrying value. Any gains or losses are included within other (expense) income in the consolidated statement of operations and comprehensive income.

Fair Value Measurements

The Company categorizes its assets and liabilities measured at fair value into a fair value hierarchy that prioritizes the assumptions used in pricing the asset or liability into the following three levels:

•Level 1: Observable inputs, such as quoted prices for identical assets and liabilities in active markets obtained from independent sources.

•Level 2: Other inputs that are observable directly or indirectly, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active and inputs that are derived principally from or corroborated by observable market data.

•Level 3: Unobservable inputs for which there is little or no market data and which require the Company to develop its own assumptions, based on the best information available under the circumstances, about the assumptions market participants would use in pricing the asset or liability.

The Company's non-financial assets, such as goodwill, intangible assets and property and equipment are recorded at fair value upon acquisition. These assets are remeasured at fair value when there is an indicator of impairment and recorded at fair value only when an impairment charge is recognized. Such fair value measurements are based predominantly on Level 3 inputs.

Contingent consideration payments related to acquisitions are measured at fair value each reporting period using Level 3 unobservable inputs. The Company's estimates of fair value are based upon assumptions believed to be reasonable but which are uncertain and involve significant judgments by management. Any changes in the fair value of these contingent consideration payments are included in operating income in the consolidated statements of operations and comprehensive income (loss).

Cost of Revenue

Cost of revenue consists primarily of expenses associated with compensation and other employee-related costs (including stock-based compensation) related to internally-operated customer call centers, third-party customer call center fees, credit scoring fees, credit card fees, website network hosting and server fees.

Product Development

Product development expense consists primarily of compensation and other employee-related costs (including stock-based compensation), as well as third-party labor costs that are not capitalized, for employees and consultants engaged in the design, development, testing and enhancement of technology.

Advertising and Promotional Expense

Income Taxes

Income taxes are accounted for under the liability method and deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases. In estimating future tax consequences, all expected future events are considered. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided on deferred tax assets if it is determined that it is more likely than not that the deferred tax asset will not be realized. Interest is recorded on potential tax contingencies as a component of income tax expense and recorded net of any applicable related income tax benefit.

In accordance with the accounting standard for uncertainty in income taxes, liabilities for uncertain tax positions are recognized based on the two-step process prescribed by the accounting standards. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate settlement.

Stock-Based Compensation

The forms of stock-based awards granted to LendingTree employees are principally restricted stock units (“RSUs”), RSUs with performance conditions, stock options, and employee stock purchases related to the Employee Stock Purchase Plan (“Employee Stock Purchase Rights”). Further, stock options with market conditions, restricted stock awards (“RSAs”) with performance conditions and RSAs with market conditions have been granted to the Company's current or former Chief Executive Officer. RSUs are awards in the form of units, denominated in a hypothetical equivalent number of shares of LendingTree common stock and with the value of each award equal to the fair value of LendingTree common stock at the date of grant. RSUs may be settled in cash, stock or both, as determined by the Company's Compensation Committee at the time of grant. The Company does not have a history of settling these awards in cash. Each stock-based award is subject to service-based vesting, where a specific period of continued employment must pass before an award vests. The Compensation Committee can modify the vesting provisions of an award. Certain awards also include performance-based vesting, where certain performance targets set at the time of grant must be achieved before an award vests.

LendingTree recognizes as expense non-cash compensation for all stock-based awards for which vesting is considered probable. Forfeitures are recognized when they occur.

For service-based awards, non-cash compensation is measured at fair value on the grant date and expensed ratably over the vesting term. The fair value of stock option awards without a market condition and Employee Stock Purchase Rights are typically estimated using the Black-Scholes option pricing model, while the fair value of an RSU or RSA is measured as the closing common stock price at the time of grant. For performance-based grants, the fair value is measured on the grant date and recognized as non-cash compensation expense, considering the probability of the targets being achieved. Performance-based grants with a market condition are typically valued using a Monte Carlo simulation model. Non-cash compensation expense for single cliff-vesting grants with a market condition are recognized on a straight-line basis, while graded-vesting grants with a market condition use graded vesting expense attribution.

Excess tax benefits and deficiencies that arise due to the difference in the measure of stock compensation and the amount deductible for tax purposes are recorded in income tax expense within the consolidated statement of operations and comprehensive income (loss), and are classified as a component of operating cash flows within the consolidated statements of cash flows.

Litigation Settlements and Contingencies

Litigation settlements and contingencies consists of expenses related to actual or anticipated litigation settlements.

The Company is involved in legal proceedings on an ongoing basis. If the Company believes that a loss arising from such matters is probable and can be reasonably estimated, the estimated liability is accrued in the consolidated financial statements. If only a range of estimated losses can be determined, an amount within the range is accrued that, in the Company's judgment, reflects the most likely outcome; if none of the estimates within that range is a better estimate than any other amount, the low end of the range is accrued. For those proceedings in which an unfavorable outcome is reasonably possible but not probable, an estimate of the reasonably possible loss or range of losses or a conclusion that an estimate of the reasonably possible loss or range of losses arising directly from the proceeding (i.e., monetary damages or amounts paid in judgment or settlement) are not material is disclosed. Legal expenses associated with these matters are recognized as incurred

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; 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.

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 December 31, 2025, 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.

For the year ended December 31, 2025, one network partner accounted for 27% of total consolidated revenue, all of which was recorded within the Insurance segment. For the year December 31, 2024, two network partners accounted for 22% and 11%, respectively, of total consolidated revenue, all of which was recorded within the Insurance segment. For the year ended December 31, 2023 there were no network partners accounting for more than 10% of total revenue.

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.

Recent Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements

Recently Adopted Accounting Pronouncements

In November 2023, the FASB issued ASU 2023-07 which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. This ASU is effective for annual periods beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024. An entity should adopt the guidance as of the beginning of the earliest period presented. The Company adopted this ASU on December 31, 2024. See Note 19—Segment Information for further information.

In December 2023, the FASB issued ASU 2023-09 which expands annual disclosure requirements for income taxes, primarily through disclosure about disaggregated information about an entity's effective tax rate reconciliation and information on income taxes paid. This ASU is effective for annual periods beginning after December 15, 2024. The Company adopted this ASU on December 31, 2025 and elected to apply the guidance on a prospective basis. See Note 12—Income Taxes for further information.

Recently Issued Accounting Pronouncements

In November 2024, the FASB issued ASU 2024-03 which requires the disaggregated disclosure of specific expense categories, including purchases of inventory, employee compensation, depreciation, and amortization, within relevant income statement captions. This ASU also requires disclosure of the total amount of selling expenses along with the definition of selling expenses. The ASU is effective for annual periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted, including adoption in interim periods. The Company is currently evaluating the impact this ASU will have on its consolidated financial statements.

In July 2025, the FASB issued ASU 2025-05 which provides a practical expedient permitting an entity to assume that conditions at the balance sheet date do not change for the remaining life of the asset when estimating expected credit losses for current classified accounts receivable and contract assets. This ASU is effective for annual reporting periods beginning after December 15, 2025, including interim periods within those fiscal years. Early adoption is permitted in both interim and annual reporting periods in which financial statements have not yet been issued or made available for issuance. The guidance in this ASU is to be applied on a prospective basis. The Company is currently evaluating the impact this ASU will have on its consolidated financial statements.

In September 2025, the FASB issued ASU 2025-06 for targeted improvements to the accounting for internal-use software. The amendments modernize guidance to consider different methods of software development, updating the requirements for capitalization of software costs. This ASU is effective for annual reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact this ASU will have on its consolidated financial statements.

In December 2025, the FASB issued ASU No. 2025-11 which clarifies interim disclosure requirements in order to improve the consistency, clarity and navigability of interim financial statements. This ASU is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The guidance in this ASU can be applied either on a prospective or a retrospective basis. The Company is currently evaluating the impact this ASU will have on its consolidated financial statements.

REVENUE (Details) - USD ($)	12 Months Ended
REVENUE (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 1,117,324,000	$ 900,219,000	$ 672,502,000
Contract asset	33,500,000	20,500,000
Contract liability			0
Revenue recognized from prior period			900,000
Change in estimate of transaction price	400,000	400,000	0
Other
Disaggregation of Revenue [Line Items]
Revenue	310,000	199,000	199,000
Contract asset	22,500,000
Home
Disaggregation of Revenue [Line Items]
Revenue	151,764,000	128,854,000	143,753,000
Personal loans
Disaggregation of Revenue [Line Items]
Revenue	114,441,000	101,412,000	100,124,000
Other Consumer
Disaggregation of Revenue [Line Items]
Revenue	138,929,000	121,050,000	178,821,000
Consumer
Disaggregation of Revenue [Line Items]
Revenue	253,370,000	222,462,000	278,945,000
Insurance
Disaggregation of Revenue [Line Items]
Revenue	$ 711,880,000	$ 548,704,000	$ 249,605,000

GOODWILL AND INTANGIBLE ASSETS - Definite Lived Intangibles (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2025
Intangible assets with definite lives
Cost	$ 69,700	$ 69,100
Accumulated Amortization	(36,559)	(41,150)
Net	$ 33,141	27,950
Impairment Of Intangible Asset Finite Lived Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag	impairment charge
Customer lists
Intangible assets with definite lives
Cost	$ 69,700	69,100
Accumulated Amortization	(36,559)	(41,150)
Net	33,141	$ 27,950
Impairment charge	$ 1,400
Customer lists \| Weighted Average Amortization Life
Intangible assets with definite lives
Weighted Average Amortization Life	13 years 7 months 6 days	13 years 8 months 12 days
Impaired customer list
Intangible assets with definite lives
Cost	$ 6,400

EARNINGS PER SHARE and SHAREHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

EARNINGS PER SHARE and SHAREHOLDERS' EQUITY

Basic net income (loss) per share attributable to common shareholders is calculated by dividing net income (loss) by the weighted-average number of shares of common stock outstanding for the period. Diluted net income (loss) per share is calculated by dividing net income (loss), adjusted on an if-converted basis for the period, by the weighted-average number of shares outstanding and potentially dilutive common stock outstanding during the period.

The following table presents the calculation of basic and diluted net income (loss) per share for the periods presented (in thousands, except per share amounts):


	Year Ended December 31,
	2025		2024		2023
Numerator:
Net income (loss)	$	151,308	$	(41,704)	$	(122,404)
Add back interest expense, net of tax attributable to assumed conversion of convertible senior notes	234		—		—
Net income (loss) attributable to common stockholders-diluted	$	151,542	$	(41,704)	$	(122,404)

Weighted average basic common shares	13,584		13,269		12,941
Effect of stock options	—		—		—
Effect of dilutive share awards	358		—		—
Dilutive effect of assumed conversion of convertible senior notes	120		—		—
Weighted average diluted common shares	14,062		13,269		12,941

Net income (loss) attributable to common shareholders-basic	$	11.14	$	(3.14)	$	(9.46)
Net income (loss) attributable to common shareholders-diluted	$	10.78	$	(3.14)	$	(9.46)

For the year ended December 31, 2025 the weighted average shares that were anti-dilutive included options to purchase 0.8 million shares of common stock and an immaterial amount of restricted stock units.

For the year ended December 31, 2024, the Company had a net loss 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 0.2 million shares related to potentially dilutive securities were excluded from the calculation of diluted loss per share for the year ended December 31, 2024 because their inclusion would have been anti-dilutive. For the year ended December 31, 2024 the weighted average shares that were anti-dilutive included options to purchase 0.9 million shares of common stock and an immaterial amount of restricted stock units.

For the year ended December 31, 2023, the Company had a net loss 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 year ended December 31, 2023 because their inclusion would have been anti-dilutive. For the year ended December 31, 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.

The convertible notes and the warrants issued by the Company could have been converted into the Company’s common stock, subject to certain contingencies. These convertible notes were settled in 2025 and the warrants have expired and are no longer outstanding. See Note 13—Debt for additional information. The if-converted method is used for diluted net income per share calculation of our convertible notes.

Approximately 0.6 million shares related to the potentially dilutive shares of the Company's common stock associated with the 0.50% Convertible Senior Notes due July 15, 2025 were excluded from the calculation of diluted loss per share for the year ended December 31, 2024 because their inclusion would have been anti-dilutive. Approximately 1.2 million shares related to the potentially dilutive shares of the Company's common stock associated with the 0.50% Convertible Senior Notes due July 15, 2025 were excluded from the calculation of diluted loss per share for the year ended December 31, 2023 because their

inclusion would have been anti-dilutive. Shares of the Company's stock associated with warrants issued by the Company in 2020 were excluded from the calculation of diluted income (loss) per share for the years ended December 31, 2025, 2024, and 2023 because their inclusion would have been anti-dilutive.

See Note 11—Stock-Based Compensation for a full description of outstanding equity awards.

Equity Distribution Agreement

In July 2024, the Company entered into an Equity Distribution Agreement in connection with the establishment of an ATM Equity Program under which the Company may sell up to an aggregate of $50.0 million of shares of the Company's common stock. No sales were made under the Equity Distribution Agreement during the years ended December 31, 2025 and 2024.

Common Stock Repurchases

The Company has a plan authorized for the repurchase of LendingTree's common stock. The Company did not purchase shares of its common stock during the years ended December 31, 2025, 2024, and 2023. At December 31, 2025, $96.7 million remains authorized for share repurchase.

INCOME TAXES - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Reconciliation of unrecognized tax benefits, excluding interest
Balance, beginning of the period	$ 3,721	$ 3,424
Additions based on tax positions of the current period	225	225
Additions (subtractions) based on tax positions of the prior period	7	72
Balance, end of the period	$ 3,953	$ 3,721

DEBT - Convertible Senior Notes (Details) - USD ($)		3 Months Ended	12 Months Ended
DEBT - Convertible Senior Notes (Details) - USD ($)	Jul. 15, 2025	Mar. 31, 2025	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2023	Jul. 24, 2020
Debt Instrument [Line Items]
Interest paid			$ 37,203,000	$ 38,203,000	$ 23,685,000
Gain on the extinguishment of debt			266,000	9,035,000	48,562,000
Amortization of debt issuance costs			1,609,000	2,168,000	$ 3,137,000
2025 Convertible Notes
Debt Instrument [Line Items]
Interest rate					0.50%
Conversion rate, number of shares per $1,000 of principal									2.1683
Conversion price (in dollars per share)									$ 461.19
Repurchased amount	$ 95,300,000	$ 19,700,000			$ 81,200,000	$ 7,200,000	$ 151,700,000	$ 156,300,000
Interest paid	$ 200,000
Repurchased face amount		20,000,000.0			100,200,000	$ 7,600,000	161,300,000	190,600,000
Gain on the extinguishment of debt		$ 300,000		10,100,000	53,300,000
Repurchased amount, accrued interest					200,000		$ 300,000	$ 100,000
Write-off of previously-capitalized debt issuance costs				1,100,000	3,200,000
Debt repayment costs					1,600,000
Interest expense			600,000	1,900,000	4,300,000
Interest expense, excluding amortization			$ 300,000	$ 900,000	$ 2,100,000
Interest rate			0.50%	0.50%	0.50%
Amortization of debt issuance costs			$ 300,000	$ 1,000,000.0	$ 2,200,000
2025 Convertible Notes \| Convertible Debt
Debt Instrument [Line Items]
Aggregate principal amount									$ 575,000,000.0
Interest rate									0.50%

STOCK-BASED COMPENSATION - RSU and RSA Activity (Details)	12 Months Ended
	Dec. 31, 2025 day $ / shares shares	Sep. 29, 2023 $ / shares
Nonvested RSUs and RSAs, Weighted Average Grant Date Fair Value
Share price (in dollars per share)	$ 53.09	$ 15.50
RSUs
Nonvested RSUs and RSAs, Number of Shares
Nonvested at the beginning of the period (in shares) \| shares	569,460
Granted (in shares) \| shares	561,615
Vested (in shares) \| shares	(369,294)
Forfeited (in shares) \| shares	(41,321)
Nonvested at the end of the period (in shares) \| shares	720,460
Nonvested RSUs and RSAs, Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share)	$ 46.37
Granted (in dollars per share)	42.31
Vested (in dollars per share)	50.21
Forfeited (in dollars per share)	41.29
Nonvested at the end of the period (in dollars per share)	$ 41.50
Market-Based Restricted Stock Units
Nonvested RSUs and RSAs, Number of Shares
Nonvested at the beginning of the period (in shares) \| shares	46,000
Granted (in shares) \| shares	145,000
Vested (in shares) \| shares	(60,527)
Forfeited (in shares) \| shares	(51,473)
Nonvested at the end of the period (in shares) \| shares	79,000
Nonvested RSUs and RSAs, Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share)	$ 35.24
Granted (in dollars per share)	36.46
Vested (in dollars per share)	35.66
Forfeited (in dollars per share)	33.34
Nonvested at the end of the period (in dollars per share)	$ 38.39
Vesting period of trading day average closing stock prices (in days) \| day	90
Market-Based Restricted Stock Units \| Share-Based Payment Arrangement, Tranche One
Nonvested RSUs and RSAs, Weighted Average Grant Date Fair Value
Share price (in dollars per share)	$ 60.00
Market-Based Restricted Stock Units \| Share-Based Payment Arrangement, Tranche Two
Nonvested RSUs and RSAs, Weighted Average Grant Date Fair Value
Share price (in dollars per share)	75.00
Market-Based Restricted Stock Units \| Share-Based Payment Arrangement, Tranche Three
Nonvested RSUs and RSAs, Weighted Average Grant Date Fair Value
Share price (in dollars per share)	$ 90.00

EQUITY INVESTMENTS	12 Months Ended
EQUITY INVESTMENTS	Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]
EQUITY INVESTMENTS	EQUITY INVESTMENTS On February 28, 2020, the Company acquired an equity interest in Stash Financial, Inc. (“Stash”) for $80.0 million. On January 6, 2021, the Company acquired an additional equity interest for $1.2 million. Stash is a consumer investing and banking platform. Stash brings together banking, investing, and financial services education into one seamless experience offering a full suite of personal investment accounts, traditional and Roth IRAs, custodial investment accounts, and banking services, including checking accounts and debit cards with a Stock-Back® rewards program. On October 18, 2021, the Company entered into a stock transfer agreement with third parties to sell a portion of its Stash equity securities for $46.3 million with a cost basis of $18.4 million. The Company recorded a realized gain of $27.9 million based on the sale of Stash equity securities under the stock transfer agreement. In 2021, the Company recorded a net unrealized gain on the investment in Stash of $95.4 million as a result of an adjustment to the fair value of the Stash equity securities based on observable market events. In the third quarter of 2023, the Company determined there was an impairment indicator related to its Stash investment 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. The Company determined the fair value by using a market approach and a DCF analysis. Determining the fair value using a DCF analysis and a market analysis requires the exercise of significant judgments, including judgments about the appropriate discount rate, perpetual growth rates, including short-term revenue and EBITDA, the amount and timing of expected future cash flows, and the revenue exit multiple. In the third quarter of 2024, the Company was informed that Stash executed a term sheet for additional funding. As a result, the Company determined there was an impairment indicator related to its Stash investment and performed a valuation of the investment. The Company determined the fair value by predominately modeling its value of the investment based on the new funding terms utilizing an option pricing model. Based on the valuation of the Stash investment, the Company determined the estimated fair value was below the carrying value of the investment and recorded an impairment charge of $43.4 million. Determining the fair value using the new funding terms requires the exercise of significant judgments, including judgments about the appropriate volatility, risk-free rate of return, time to expiration and liquidation preferences. In the second quarter of 2025, the Company recorded an impairment of $1.2 million on its investment in Stash. As of December 31, 2025, the carrying value of the Company’s investment in Stash was $0.5 million. In January 2022, the Company acquired an equity interest in EarnUp Inc. (“EarnUp”) for $15.0 million. EarnUp is a consumer-first mortgage payment platform that intelligently automates loan payment scheduling and helps consumers better manage their money and improve their financial well-being. In the third quarter of 2024, the Company determined there was an impairment indicator related to its EarnUp investment and recorded an impairment charge of $15.0 million. In the second quarter of 2023, the Company recorded an impairment charge of $1.4 million on one of its investment in equity securities. These impairments are included within other income on the consolidated statement of operations and comprehensive income.

SIGNIFICANT ACCOUNTING POLICIES - Schedule of Reconciliation of the Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of the period	$ 1,407	$ 2,222	$ 2,317
Charges to earnings	264	171	1,752
Write-off of uncollectible accounts receivable	(369)	(986)	(2,274)
Recoveries collected	20	0	56
Assets held for sale	0	0	371
Balance, end of the period	$ 1,322	$ 1,407	$ 2,222

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2025

Payables and Accruals [Abstract]

Schedule of accrued expenses and other current liabilities

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


	December 31, 2025		December 31, 2024
Accrued advertising expense	$	69,250	$	59,381
Accrued compensation and benefits	25,707		23,504
Accrued professional fees	1,141		1,311
Customer deposits and escrows	8,114		7,673

Current lease liabilities	4,394		5,799
Accrued contingencies	13,001		3,868
Other	5,196		5,649
Total accrued expenses and other current liabilities	$	126,803	$	107,185

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of non-cash compensation expense 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 (loss) (in thousands):


	Year Ended December 31,
	2025		2024		2023
Cost of revenue	$	173	$	297	$	396
Selling and marketing expense	2,637		3,303		5,267
General and administrative expense	23,672		20,478		25,180
Product development	2,720		4,501		6,333
Restructuring and severance	255		—		2,506
Total non-cash compensation	$	29,457	$	28,579	$	39,682

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)
Outstanding at December 31, 2024	371,386	$	226.17
Granted	—	—
Exercised	—	—
Forfeited	—	—
Expired	(11,909)	144.89
Outstanding at December 31, 2025	359,477	$	228.86	2.51	$	—
Options exercisable	359,477	$	228.86	2.51	$	—

(a)The aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Company's closing stock price of $53.09 on the last trading day of 2025 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 December 31, 2025. The intrinsic value changes based on the market value of the Company's common stock.

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)
Outstanding at December 31, 2024	699,312	$	227.74
Granted	—	—
Exercised	—	—
Forfeited	—	—
Expired	(217,643)	300.00
Outstanding at December 31, 2025	481,669	$	195.10	0.78	$	—
Options exercisable	481,669	$	195.10	0.78	$	—

these options on December 31, 2025. The intrinsic value changes based on the market value of the Company's common stock.

Schedule of changes in outstanding non-vested RSUs, restricted stock and RSUs with performance conditions

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


	RSUs
	Number of Units	Weighted Average Grant Date Fair Value
		(per unit)
Nonvested at December 31, 2024	569,460	$	46.37
Granted (a)	561,615	42.31
Vested	(369,294)	50.21
Forfeited	(41,321)	41.29
Nonvested at December 31, 2025	720,460	$	41.50

(a)The grant date fair value per share of the RSUs is calculated as the closing market price of LendingTree's common stock at the time of grant.

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


	RSUs with Market Conditions (a)
	Number of Units	Weighted Average Grant Date Fair Value
		(per unit)
Nonvested at December 31, 2024	46,000	$	35.24
Granted	145,000	36.46
Vested	(60,527)	35.66
Forfeited	(51,473)	33.34
Nonvested at December 31, 2025	79,000	$	38.39

(a)During the year ended December 31, 2025, the Company granted RSUs with market conditions that will vest if the Company's 90 trading day average closing stock prices equals or exceeds certain price hurdles ($60.00, $75.00 and $90.00) during the performance period of March 10, 2025 to March 10, 2029, and granted RSUs with market conditions that will vest if the Company's 90 trading day average closing stock prices equals or exceeds certain price hurdles ($75.00 and $90.00) during the performance period of December 31, 2025 to December 31, 2028. Upon achievement of each price hurdle, one-half of the awards will vest upon the later of the achievement date or the one-year anniversary of the grant date, and the other half of the awards will vest on the first anniversary of the achievement date.

Schedule of RSUs with market conditions valuation assumptions

For purposes of determining stock-based compensation expense, the weighted average grant date fair value per share of the RSUs with market conditions was estimated using the Monte Carlo simulation model, which requires the use of various key assumptions.


	Year Ended December 31,
	2025	2024
Expected term (1)	3.00 - 4.00 years	5.00 years
Expected volatility (2)	74.09% - 75.11%	68.06	%
Risk-free interest rate (3)	3.52% - 3.91%	4.13	%
Expected dividend (4)	—	—

(1)The expected term of RSUs with market conditions granted was calculated using the respective performance period plus any time-based vesting requirement.

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

(3)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 awards in effect at the grant date.

(4)For all RSUs with market conditions granted, no dividends are expected to be paid over the contractual term of the stock options, resulting in a zero expected dividend rate.

Schedule 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:


	Year Ended December 31,
	2025	2024	2023
Expected term (1)	0.50 years	0.50 years	0.50 years
Expected dividend (2)	—	—	—
Expected volatility (3)	71% - 79%	78% - 82%	82%
Risk-free interest rate (4)	4.24% - 4.29%	5.28% - 5.33%	4.76% - 5.50%

(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.

DEBT (Tables)

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Schedule of components of the notes

A summary of the gross carrying amount and debt issuance costs of the 2025 Notes, all of which is recorded as a current liability in the December 31, 2024 consolidated balance sheet, are as follows (in thousands):


	December 31, 2024
Gross carrying amount	$	115,307

Debt issuance costs	331
Net carrying amount	$	114,976

Summary of current and long term portion of debt

A summary of the gross carrying amount, debt issuance costs, original issue discount, and net carrying value of the Credit Facilities in the December 31, 2025 consolidated balance sheet, are as follows (in thousands):


	December 31, 2025		December 31, 2024
Current Portion
Gross carrying amount	$	4,000	$	10,313
Debt issuance costs	37		169
Unamortized original issue discount	37		189
Net carrying amount	$	3,926	$	9,955
Long-term Portion
Gross carrying amount	$	395,000	$	349,062
Debt issuance costs	3,634		2,333
Unamortized original issue discount	3,672		2,605
Net carrying amount	$	387,694	$	344,124

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2025
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

INCOME TAXES - Deferred Income Taxes - BS Presentation (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Deferred income tax assets	$ 124,867	$ 0
Deferred income tax liabilities	0	(4,884)
Net deferred taxes	$ 124,867
Net deferred tax liabilities		$ (4,884)

CONTINGENCIES	12 Months Ended
CONTINGENCIES	Dec. 31, 2025
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 15, 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. In the ordinary course of business, we are party to litigation involving property, contract, intellectual property and a variety of other claims. The amounts that may be recovered in such matters may be subject to insurance coverage. As of December 31, 2025 and 2024, the Company had litigation settlement accruals of $13.0 million and $3.9 million, respectively. The litigation settlement accruals relate to litigation matters that were either settled or a firm offer for settlement was extended or an estimated settlement range has been determined, thereby establishing an accrual amount that is both probable and reasonably estimable. Legal Matter On or about October 29, 2019, Joseph Mantha filed a class action lawsuit against QuoteWizard.com, LLC alleging claims in violation of the Telephone Consumer Protection Act. On August 16, 2024, the U.S. District Court of Massachusetts granted the plaintiff’s motion to certify a class. The Company participated in a mediation in April 2025 and reached a preliminary agreement on the terms of settlement for $19 million. The settlement was approved by the court on September 29, 2025, and the matter was dismissed with prejudice. A liability of $12.6 million for this matter is included in the accompanying consolidated balance sheet as of December 31, 2025. The settlement is scheduled to be paid over three equal installments. The first payment was made in October 2025, the second payment was made in January 2026 and the final payment is due in the second quarter of 2026.

DEBT - Credit Facility and Term Loans (Details) $ in Thousands			1 Months Ended	12 Months Ended
	Aug. 21, 2025 USD ($)	Mar. 27, 2024 USD ($)	Sep. 30, 2025 USD ($)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Sep. 15, 2021 USD ($)
Line of Credit Facility [Line Items]
Current portion of long-term debt				$ 3,926	$ 124,931
Amortization of debt issuance costs				1,609	2,168	$ 3,137
Amortization of debt discount				498	331	0
Repayments				410,375	12,500	1,875
Interest paid				37,203	38,203	23,685
Maximum
Line of Credit Facility [Line Items]
Leverage ratio	5.00
2025 Credit Agreement \| Line of Credit
Line of Credit Facility [Line Items]
Potential additional borrowing capacity	$ 58,000
Percentage of consolidated EBITDA	50.00%
Leverage ratio	3.10
Premium percentage	0.010
Premium percentage period	6 months
Amended Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Interest expense						1,500
Revolving Credit Facility
Line of Credit Facility [Line Items]
Percent of domestic subsidiaries	100.00%
Percent of voting equity	65.00%
Percent of non-voting equity	100.00%
Fronting fee percentage	0.125%
Revolving Credit Facility \| Minimum
Line of Credit Facility [Line Items]
Revolving credit facility, unused capacity, commitment fee percentage	0.25%
Participation fee percentage	3.00%
Revolving Credit Facility \| Maximum
Line of Credit Facility [Line Items]
Revolving credit facility, unused capacity, commitment fee percentage	0.38%
Participation fee percentage	3.50%
Revolving Credit Facility \| Variable Rate Component One \| ABR
Line of Credit Facility [Line Items]
Revolving credit facility, basis spread on variable rate	0.50%
Revolving Credit Facility \| Variable Rate Component Two \| ABR
Line of Credit Facility [Line Items]
Revolving credit facility, basis spread on variable rate	1.00%
Revolving Credit Facility \| 2025 Credit Agreement \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 75,000
Minimum loan amount outstanding	20,000
Debt issuance costs	$ 1,400
Interest expense				200
Commitment fees				100
Amortization of debt issuance costs				100
Revolving Credit Facility \| 2025 Credit Agreement \| Line of Credit \| ABR \| Minimum
Line of Credit Facility [Line Items]
Revolving credit facility, basis spread on variable rate	2.00%
Revolving Credit Facility \| 2025 Credit Agreement \| Line of Credit \| ABR \| Maximum
Line of Credit Facility [Line Items]
Revolving credit facility, basis spread on variable rate	2.50%
Revolving Credit Facility \| 2025 Credit Agreement \| Line of Credit \| Benchmark Rate \| Minimum
Line of Credit Facility [Line Items]
Revolving credit facility, basis spread on variable rate	3.00%
Revolving Credit Facility \| 2025 Credit Agreement \| Line of Credit \| Benchmark Rate \| Maximum
Line of Credit Facility [Line Items]
Revolving credit facility, basis spread on variable rate	3.50%
Revolving Credit Facility \| Credit Agreement \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity							$ 200,000
Interest expense				1,300	1,800
Amortization of debt issuance costs				600	900
Unused borrowing capacity fee				700	900
Revolving Credit Facility \| Amended Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Amortization of debt issuance costs						900
Unused borrowing capacity fee						600
Delayed Draw Term Loan \| 2025 Credit Agreement \| Line of Credit
Line of Credit Facility [Line Items]
Aggregate principal amount	$ 400,000
Long term debt				$ 399,000
Interest rate at the end of the period				8.22%
Current portion of long-term debt				$ 4,000
Debt issuance costs	3,900
Financing costs	8,600
Interest expense			$ 800	13,200
Unamortized debt discount	$ 3,900
Amortization of debt issuance costs				300
Amortization of debt discount				200
Delayed Draw Term Loan \| 2025 Credit Agreement \| Line of Credit \| ABR \| Moody's, Lower Than B2 Rating
Line of Credit Facility [Line Items]
Revolving credit facility, basis spread on variable rate	3.50%
Delayed Draw Term Loan \| 2025 Credit Agreement \| Line of Credit \| ABR \| Moody's, B2 Rating or Better
Line of Credit Facility [Line Items]
Revolving credit facility, basis spread on variable rate	3.25%
Delayed Draw Term Loan \| 2025 Credit Agreement \| Line of Credit \| Benchmark Rate \| Moody's, Lower Than B2 Rating
Line of Credit Facility [Line Items]
Revolving credit facility, basis spread on variable rate	4.50%
Delayed Draw Term Loan \| 2025 Credit Agreement \| Line of Credit \| Benchmark Rate \| Moody's, B2 Rating or Better
Line of Credit Facility [Line Items]
Revolving credit facility, basis spread on variable rate	4.25%
Delayed Draw Term Loan \| 2025 Credit Agreement \| Line of Credit \| SOFR
Line of Credit Facility [Line Items]
Interest expense, excluding amortization				12,700
Delayed Draw Term Loan \| Credit Agreement \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity							$ 250,000
Interest expense				13,200		$ 22,200
Repayments	$ 242,500
Interest paid	1,200
Loss on impairment of equity investments	400
Delayed Draw Term Loan \| Credit Agreement \| Line of Credit \| LIBOR
Line of Credit Facility [Line Items]
Interest expense, excluding amortization					22,800
Letter of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	30,000
Secured Debt \| 2024 Term Loan \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 175,000
Current portion of long-term debt				3,926	9,955
Interest expense				10,300	11,500
Amortization of debt issuance costs				400	300
Amortization of debt discount				300
Repayments	160,300
Interest paid	900
Loss on impairment of equity investments	$ 6,700
Unused borrowing capacity fee				200	600
Amount drew down		125,000
Amount available as a delayed draw		$ 50,000
Secured Debt \| 2024 Term Loan \| Line of Credit \| SOFR
Line of Credit Facility [Line Items]
Interest expense				$ 9,400	$ 10,300

COMMITMENTS (Tables)

12 Months Ended

Dec. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Schedule of funding commitments that could potentially require performance in the event of demands by third parties or contingent events

The Company has funding commitments that could potentially require performance in the event of demands by third parties or contingent events, as follows (in thousands):


	Commitments Due By Period
	Total		Less Than 1 year		1-3 years		3-5 years		More Than 5 years
Surety bonds (a)	$	3,243	$	3,243	$	—	$	—	$	—

INCOME TAXES - Income Tax Reconciliation when Applying the Statutory Federal Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Amount
Federal statutory income tax	$ 4,415	$ (7,851)	$ (26,233)
State and local income taxes, net of federal effect	(23,711)	(502)	(2,883)
Foreign tax effects	57
Global intangible low-taxed income inclusion	420	420	420
Research and experimentation tax credit	(1,547)	(1,500)	(1,512)
Increase (decrease) in valuation allowance	(114,973)	5,045	17,087
Nondeductible executive compensation	3,562	3,245	2,174
Excess tax deductions on non-cash compensation	799	3,633	6,373
Other nontaxable or nondeductible	359
Changes in unrecognized tax benefits	232
Other, net	103	519	1,391
Remeasurement of state deferred tax		776	73
Expiration of state net operating loss carryforwards		535	595
Income tax (benefit) expense	$ (130,284)	$ 4,320	$ (2,515)
Percent
Federal statutory income tax	21.00%
State and local income taxes, net of federal effect	(112.80%)
Foreign tax effects	0.30%
Global intangible low-taxed income inclusion	2.00%
Research and experimentation tax credit	(7.40%)
Increase (decrease) in valuation allowance	(546.90%)
Nondeductible executive compensation	16.90%
Excess tax deductions on non-cash compensation	3.80%
Other nontaxable or nondeductible	1.70%
Changes in unrecognized tax benefits	1.10%
Other, net	0.50%
Income tax expense (benefit)	(619.70%)

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Accrued expenses and other current liabilities
Accrued advertising expense	$ 69,250	$ 59,381
Accrued compensation and benefits	25,707	23,504
Accrued professional fees	1,141	1,311
Customer deposits and escrows	8,114	7,673
Current lease liabilities	4,394	5,799
Accrued contingencies	13,001	3,868
Other	5,196	5,649
Total accrued expenses and other current liabilities	$ 126,803	$ 107,185

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

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


	Goodwill		Accumulated Impairment Loss		Net Goodwill
Balance at December 31, 2023	$	903,227	$	(521,688)	$	381,539
Changes in goodwill	—		—		—
Balance at December 31, 2024	$	903,227	$	(521,688)	$	381,539
Changes in goodwill	—		—		—
Balance at December 31, 2025	$	903,227	$	(521,688)	$	381,539

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


	December 31, 2025		December 31, 2024




Intangible assets with indefinite lives	$	10,142	$	10,142
Intangible assets with definite lives, net	27,950		33,141
Total intangible assets, net	$	38,092	$	43,283

Goodwill and Indefinite-Lived Intangible Assets

The Company's goodwill at December 31, 2025 consists of $59.3 million associated with the Home reporting unit, $166.1 million associated with the Consumer reporting unit, and $156.1 million associated with the Insurance reporting unit.

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 continued 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 each of the reporting units and the impact of business or economic changes on the fair value of the reporting unit. Changes in the timing of the recovery of the mortgage business, inflation, interest rates and other changes in current expectations could cause an impairment to the Insurance, Mortgage, or Consumer reporting units.

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 (dollars in thousands):


	Weighted Average Amortization Life	Cost		Accumulated Amortization		Net

Customer lists	13.7 years	$	69,100	$	(41,150)	$	27,950


Balance at December 31, 2025		$	69,100	$	(41,150)	$	27,950


	Weighted Average Amortization Life	Cost		Accumulated Amortization		Net
Customer lists	13.6 years	$	69,700	$	(36,559)	$	33,141

Balance at December 31, 2024		$	69,700	$	(36,559)	$	33,141

During 2025 a customer list became fully amortized, reducing the cost and accumulated amortization in the table above.

In the fourth quarter of 2024, the Company made the decision to cease offering its student loan products. An impairment charge of $1.4 million was recorded in the fourth quarter of 2024 associated with student loan customer list intangible assets with an original cost of $6.4 million

Amortization of intangible assets with definite lives is computed on a straight-line basis and, based on balances as of December 31, 2025, future amortization is estimated to be as follows (in thousands):


	Amortization Expense
Year ending December 31, 2026	$	5,092
Year ending December 31, 2027	4,948
Year ending December 31, 2028	4,539
Year ending December 31, 2029	2,767
Year ending December 31, 2030	2,767
Thereafter	7,837
Total intangible assets with definite lives, net	$	27,950

STOCK-BASED COMPENSATION - Weighted Average Assumptions (Details) - Employee Stock Purchase Plan - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (in years)	6 months	6 months	6 months
Expected dividend	0.00%	0.00%	0.00%
Expected volatility, minimum (percentage)	71.00%	78.00%
Expected volatility, maximum (percentage)	79.00%	82.00%
Expected volatility rate (percentage)			82.00%
Risk-free interest rate, minimum (percentage)	4.24%	5.28%	4.76%
Risk-free interest rate, maximum (percentage)	4.29%	5.33%	5.50%
Dividends	$ 0

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Schedule of property and equipment, net

The balance of property and equipment, net is as follows (in thousands):


	December 31, 2025		December 31, 2024
Computer equipment and capitalized software	$	29,605	$	32,415
Leasehold improvements	24,052		29,206
Furniture and other equipment	5,626		6,864
Aircraft	—		2,598
Projects in progress	1,938		5,072
Total gross property and equipment	61,221		76,155
Accumulated depreciation	(28,387)		(33,375)
Total property and equipment, net	$	32,834	$	42,780

DEBT - Convertible Note Hedge and Warrant Transactions (Details) - $ / shares shares in Millions	Dec. 31, 2025	Sep. 29, 2023	Jul. 24, 2020	Jul. 21, 2020
Debt Instrument [Line Items]
Share price (in dollars per share)	$ 53.09	$ 15.50
2020 Warrants
Debt Instrument [Line Items]
Number of shares covered by the hedge transactions			1.2
Conversion price (in dollars per share)			$ 461.19
Exercise price (in dollars per share)			$ 709.52
Premium of warrant strike price over sales price of common stock (percentage)			100.00%
Share price (in dollars per share)				$ 354.76

- 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

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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 30: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 31: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482900/835-30-50-1

+ Details

PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

The balance of property and equipment, net is as follows (in thousands):


	December 31, 2025		December 31, 2024
Computer equipment and capitalized software	$	29,605	$	32,415
Leasehold improvements	24,052		29,206
Furniture and other equipment	5,626		6,864
Aircraft	—		2,598
Projects in progress	1,938		5,072
Total gross property and equipment	61,221		76,155
Accumulated depreciation	(28,387)		(33,375)
Total property and equipment, net	$	32,834	$	42,780

Unamortized capitalized software development costs recorded in property and equipment, whether in service or under development, are $13.7 million and $15.1 million at December 31, 2025 and 2024, respectively. Capitalized software development depreciation expense was $12.3 million, $13.5 million and $13.4 million for the years ended December 31, 2025, 2024 and 2023, respectively.

Long-lived assets located outside the United States, the Company's country of domicile, were immaterial at December 31, 2025 and December 31, 2024.

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Treasury Stock
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		16,167,000
Beginning balance, treasury (in shares) at Dec. 31, 2022					3,355,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(122,404)			(122,404)
Comprehensive income (loss)	(122,404)
Non-cash compensation	39,682		39,682
Issuance of common stock for stock options, employee stock purchase plan, restricted stock awards and restricted stock units, net of withholding taxes	(1,087)	$ 2	(1,089)
Issuance of common stock for stock options, employee stock purchase plan, restricted stock awards and restricted stock units, net of withholding taxes (in shares)		230,000
Other	1		1
Ending balance at Dec. 31, 2023	124,132	$ 164	1,227,849	(837,703)	$ (266,178)
Ending balance, common (in shares) at Dec. 31, 2023		16,397,000
Ending balance, treasury (in shares) at Dec. 31, 2023					3,355,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(41,704)			(41,704)
Comprehensive income (loss)	(41,704)
Non-cash compensation	28,579		28,579
Issuance of common stock for stock options, employee stock purchase plan, restricted stock awards and restricted stock units, net of withholding taxes	(2,186)	$ 3	(2,189)
Issuance of common stock for stock options, employee stock purchase plan, restricted stock awards and restricted stock units, net of withholding taxes (in shares)		350,000
Ending balance at Dec. 31, 2024	$ 108,821	$ 167	1,254,239	(879,407)	$ (266,178)
Ending balance, common (in shares) at Dec. 31, 2024	13,391,090	16,747,000
Ending balance, treasury (in shares) at Dec. 31, 2024	3,355,466				3,355,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)	$ 151,308			151,308
Comprehensive income (loss)	151,308
Non-cash compensation	29,457		29,457
Issuance of common stock for stock options, employee stock purchase plan, restricted stock awards and restricted stock units, net of withholding taxes	(2,789)	$ 4	(2,793)
Issuance of common stock for stock options, employee stock purchase plan, restricted stock awards and restricted stock units, net of withholding taxes (in shares)		378,000
Ending balance at Dec. 31, 2025	$ 286,797	$ 171	$ 1,280,903	$ (728,099)	$ (266,178)
Ending balance, common (in shares) at Dec. 31, 2025	13,769,371	17,125,000
Ending balance, treasury (in shares) at Dec. 31, 2025	3,355,466				3,355,000

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 1,322	$ 1,407
Accumulated depreciation	$ 28,387	$ 33,375
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized shares	5,000,000	5,000,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized shares	50,000,000	50,000,000
Common stock, issued shares	17,124,837	16,746,556
Common stock, outstanding shares	13,769,371	13,391,090
Treasury stock, shares	3,355,466	3,355,466

REVENUE (Tables)

12 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Revenue is as follows (in thousands):


	Year Ended December 31,
	2025		2024		2023
Revenue:
Home	$	151,764	$	128,854	$	143,753

Personal loans	114,441		101,412		100,124
Other Consumer	138,929		121,050		178,821
Consumer	253,370		222,462		278,945
Insurance	711,880		548,704		249,605
Other	310		199		199
Total revenue	$	1,117,324	$	900,219	$	672,502

INCOME TAXES - Valuation Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Deferred Tax Assets, Valuation Allowance [Roll Forward]
Balance, beginning of the period	$ 167,549	$ 162,504	$ 145,401
Charges to earnings	(149,541)	5,045	17,103
Balance, end of the period	$ 18,008	$ 167,549	$ 162,504

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill rollforward

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


	Goodwill		Accumulated Impairment Loss		Net Goodwill
Balance at December 31, 2023	$	903,227	$	(521,688)	$	381,539
Changes in goodwill	—		—		—
Balance at December 31, 2024	$	903,227	$	(521,688)	$	381,539
Changes in goodwill	—		—		—
Balance at December 31, 2025	$	903,227	$	(521,688)	$	381,539

Schedule of balance of intangible assets, net

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


	December 31, 2025		December 31, 2024




Intangible assets with indefinite lives	$	10,142	$	10,142
Intangible assets with definite lives, net	27,950		33,141
Total intangible assets, net	$	38,092	$	43,283

Schedule of intangible assets with definite lives

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


	Weighted Average Amortization Life	Cost		Accumulated Amortization		Net

Customer lists	13.7 years	$	69,100	$	(41,150)	$	27,950


Balance at December 31, 2025		$	69,100	$	(41,150)	$	27,950


	Weighted Average Amortization Life	Cost		Accumulated Amortization		Net
Customer lists	13.6 years	$	69,700	$	(36,559)	$	33,141

Balance at December 31, 2024		$	69,700	$	(36,559)	$	33,141

Schedule of amortization of intangible assets with definite lives estimated future amortization


	Amortization Expense
Year ending December 31, 2026	$	5,092
Year ending December 31, 2027	4,948
Year ending December 31, 2028	4,539
Year ending December 31, 2029	2,767
Year ending December 31, 2030	2,767
Thereafter	7,837
Total intangible assets with definite lives, net	$	27,950

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Schedule of segment reporting information


	Year Ended December 31, 2025
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	151,764	$	253,370	$	711,880	$	310	$	1,117,324
Segment cost of revenue and marketing expense	103,421		123,922		537,463		471		765,277
Segment profit (loss)	48,343		129,448		174,417		(161)		352,047
Cost of revenue									42,525
Brand and other marketing expense									47,627
General and administrative expense									112,888
Product development									45,251
Depreciation									16,459
Amortization of intangibles									5,190


Restructuring and severance									1,633
Litigation settlements and contingencies									15,661
Operating income									64,813
Interest expense, net									(46,787)
Other income									2,998
Income before income taxes									$	21,024


	Year Ended December 31, 2024
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	128,854	$	222,462	$	548,704	$	199	$	900,219
Segment cost of revenue and marketing expense	88,958		111,925		389,474		294		590,651
Segment profit (loss)	39,896		110,537		159,230		(95)		309,568
Cost of revenue									36,072
Brand and other marketing expense									45,312
General and administrative expense									108,705
Product development									46,358
Depreciation									18,300
Amortization of intangibles									5,889

Restructuring and severance									508
Litigation settlements and contingencies									3,797
Operating income									44,627
Interest expense, net									(27,849)
Other expense									(54,162)
Loss before income taxes									$	(37,384)


	Year Ended December 31, 2023
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	143,753	$	278,945	$	249,605	$	199	$	672,502
Segment cost of revenue and marketing expense	95,871		140,068		146,101		708		382,748
Segment profit (loss)	47,882		138,877		103,504		(509)		289,754
Cost of revenue									38,758
Brand and other marketing expense									50,840
General and administrative expense									117,700
Product development									47,197
Depreciation									19,070
Amortization of intangibles									7,694
Goodwill impairment									38,600
Restructuring and severance									10,118
Litigation settlements and contingencies									388
Operating loss									(40,611)
Interest income, net									21,685
Other expense									(105,993)
Loss before income taxes									$	(124,919)

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
ASSETS:
Cash and cash equivalents	$ 81,073	$ 106,594
Accounts receivable (net of allowance of $1,322 and $1,407, respectively)	110,582	97,790
Prepaid and other current assets	38,053	34,078
Total current assets	229,708	238,462
Property and equipment (net of accumulated depreciation of $28,387 and $33,375, respectively)	32,834	42,780
Operating lease right-of-use assets	31,655	52,557
Goodwill	381,539	381,539
Intangible assets, net	38,092	43,283
Deferred income tax assets	124,867	0
Equity investments (Note $7)	475	1,700
Other non-current assets	16,522	7,353
Total assets	855,692	767,674
LIABILITIES:
Current portion of long-term debt	3,926	124,931
Accounts payable, trade	6,735	8,360
Accrued expenses and other current liabilities	126,803	107,185
Total current liabilities	137,464	240,476
Long-term debt	387,694	344,124
Operating lease liabilities	43,597	69,238
Deferred income tax liabilities	0	4,884
Other non-current liabilities	140	131
Total liabilities	568,895	658,853
Commitments and contingencies (Notes $14 and $15)
SHAREHOLDERS' EQUITY:
Preferred stock $.01 par value; 5,000,000 shares authorized; none issued or outstanding	0	0
Common stock $.01 par value; 50,000,000 shares authorized; 17,124,837 and 16,746,556 shares issued, respectively, and 13,769,371 and 13,391,090 shares outstanding, respectively	171	167
Additional paid-in capital	1,280,903	1,254,239
Accumulated deficit	(728,099)	(879,407)
Treasury stock; 3,355,466 and 3,355,466 shares, respectively	(266,178)	(266,178)
Total shareholders' equity	286,797	108,821
Total liabilities and shareholders' equity	$ 855,692	$ 767,674

INCOME TAXES - Deferred Income Taxes - Components (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Provision for accrued expenses	$ 4,303	$ 1,541
Leasing	11,991	19,053
Net operating loss carryforwards	45,032	38,746
Capitalized research and experimentation	16,577	35,861
Non-cash compensation expense	22,931	23,953
Property and equipment	1,985	833
Intangible assets	0	1,882
Interest	24,641	22,422
Equity investment	16,538	19,659
Tax credits	16,995	15,522
Other	61	71
Total gross deferred tax assets	161,054	179,543
Less: valuation allowance	(18,008)	(167,549)	$ (162,504)	$ (145,401)
Total deferred tax assets, net of the valuation allowance	143,046	11,994
Deferred tax liabilities:
Leasing	(10,080)	(16,379)
Intangible and other assets	(7,617)	0
Prepaid expenses	(482)	(484)
Other	0	(15)
Total gross deferred tax liabilities	(18,179)	(16,878)
Net deferred taxes	124,867
Net deferred tax liabilities		$ (4,884)
Federal
Deferred tax liabilities:
Operating loss carryforwards	148,800
State
Deferred tax liabilities:
State operating loss carryforwards	$ 423,100

COVER - USD ($) $ in Millions	12 Months Ended
COVER - USD ($) $ in Millions	Dec. 31, 2025	Mar. 06, 2026	Jun. 30, 2025
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2025
Current Fiscal Year End Date	--12-31
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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 411
Entity Common Stock, Shares Outstanding		13,855,792
Documents Incorporated by Reference	Portions of the Registrant's proxy statement for its 2026 Annual Meeting of Stockholders are incorporated by reference into Part III herein. Such proxy statement will be filed with the U.S. Securities and Exchange Commission within 120 days of the Registrant's fiscal year ended December 31, 2025.
Entity Central Index Key	0001434621
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	FY
Amendment Flag	false

DEBT

12 Months Ended

Dec. 31, 2025

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 matured on July 15, 2025. The initial conversion rate of the 2025 Notes was 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 July 15, 2025, the Company repaid the $95.3 million outstanding principal amount of the 2025 Notes upon maturity in cash plus $0.2 million of accrued interest. Upon this repayment, the 2025 Notes were extinguished and repaid in full and the Company has no further obligations with respect to the 2025 Notes.

In the first quarter of 2025, the Company repurchased approximately $20.0 million of its 2025 Notes, through individual privately-negotiated transactions with certain holders of the 2025 Notes, for $19.7 million in cash plus an immaterial amount of accrued and unpaid interest. The repurchase resulted in a $0.3 million gain on the extinguishment of debt which is included in interest expense, net in the consolidated statement of operations and comprehensive income.

In the second quarter of 2024, the Company repurchased approximately $161.3 million in principal amount of the 2025 Notes for $151.7 million plus accrued and unpaid interest of approximately $0.3 million. In the third quarter of 2024, the Company repurchased approximately $7.6 million in principal amount of the 2025 Notes for $7.2 million. During the year ended December 31, 2024, the Company recognized a gain on the extinguishment of debt of $10.1 million and a loss on the write-off of unamortized debt issuance costs of $1.1 million, both of which are included in interest (expense) income, net in the consolidated statements of operations and comprehensive income.

In the first quarter of 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 fourth quarter of 2023, the Company repurchased approximately $100.2 million in principal amount of its 2025 Notes, through individual privately-negotiated transactions with certain holders of the 2025 Notes, for $81.2 million in cash plus accrued and unpaid interest of approximately $0.2 million. During the year ended December 31, 2023, the Company recognized a gain on the extinguishment of debt of $53.3 million, a loss on the write-off of unamortized debt issuance costs of $3.2 million and incurred debt repayment costs of $1.6 million, all of which are included in interest (expense) income, net in the consolidated statements of operations and comprehensive income.

During 2025, the Company recorded interest expense on the 2025 Notes of $0.6 million which consisted of $0.3 million associated with the 0.50% coupon rate and $0.3 million associated with the amortization of the debt issuance costs. During

2024, the Company recorded interest expense on the 2025 Notes of $1.9 million which consisted of $0.9 million associated with the 0.50% coupon rate and $1.0 million associated with the amortization of the debt issuance costs. During 2023, the Company recorded interest expense on the 2025 Notes of $4.3 million which consisted of $2.1 million associated with the 0.50% coupon rate and $2.2 million associated with the amortization of the debt issuance costs.


	December 31, 2024
Gross carrying amount	$	115,307

Debt issuance costs	331
Net carrying amount	$	114,976

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. The 2020 Hedge transactions were 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 could have been 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, was 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 expired on July 15, 2025 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, exceeded the strike price of the 2020 Warrants, the 2020 Warrants could have had a dilutive effect. The 2020 Warrants expired on February 11, 2026.

Credit Facilities

2025 Credit Facility

On August 21, 2025, the Company entered into a credit agreement (the “2025 Credit Agreement”), consisting of a $75.0 million revolving credit facility (the “2025 Revolving Facility”), which matures on August 21, 2030, and a $400.0 million term loan facility (the “2025 Term Loan” and together with the 2025 Revolving Facility, the “2025 Credit Facility”), which matures on August 21, 2030. The proceeds of the 2025 Credit Facility was used to refinance the 2021 Credit Facility and 2024 Term Loan (defined below), and will be used for working capital and general corporate purposes, and any other purpose not prohibited by the credit agreement. As of December 31, 2025, the Company had $399.0 million borrowings outstanding under the 2025 Term Loan bearing interest based on the Secured Overnight Financing Rate ("SOFR") of 8.22% and had no borrowings under the 2025 Revolving Facility. As of December 31, 2025, borrowings of $4.0 million under the 2025 Term Loan Facility are recorded as current portion of long-term debt on the consolidated balance sheet.

The full amount of the 2025 Revolving Facility will be available on a same-day basis, with respect to base rate loans and upon advance notice with respect to SOFR rate loans, subject to customary terms and conditions. Under certain conditions, the Company will be permitted to add one or more term loans and/or increase revolving or term loan commitments under the Credit Facility by an amount set at the greater of $58.0 million and 50% of consolidated EBITDA (subject to adjustments for certain

prepayments), plus an unlimited amount provided that the first lien net leverage ratio does not exceed 3.10 to 1.00. Additionally, up to $30.0 million of the 2025 Revolving Facility will be available for the issuance of letters of credit.

The Company’s borrowings under the 2025 Credit Facility bear interest at annual rates that, at the Company’s option, will be either:

•a base rate generally defined as the sum of (i) the greater of (a) the prime rate of Bank of America, (b) the federal funds effective rate plus 0.5% and (c) the Benchmark rate (defined below) on a daily basis applicable for an interest period of one month plus 1.0% and (ii) an applicable percentage of 2.00% to 2.50% for loans under the 2025 Revolving Facility and 3.50% for loans under the 2025 Term Loan Facility (3.25% upon achievement of a corporate family rating of B2 (stable) or better from Moody’s which was achieved in January 2026), in each case, based on a first lien net leverage ratio; or

•a Benchmark rate generally defined as the sum of (i) Term SOFR and (ii) an applicable percentage of 3.00% to 3.50% for loans under the 2025 Revolving Facility and 4.50% for loans under the 2025 Term Loan Facility (4.25% upon achievement of a corporate family rating of B2 (stable) or better from Moody’s which was achieved in January 2026), in each case, based on a first lien net leverage ratio.

Interest on the Company’s borrowings is payable quarterly in arrears for base rate loans and on the last day of each interest rate period (but not less often than three months) for SOFR rate loans.

The 2025 Credit Facility contains a restrictive financial covenant, which is set at a first lien net leverage ratio of 5.00 to 1.00. The financial covenant will be tested only if the loans and certain other obligations under the 2025 Revolving Facility exceed $20.0 million as of the last date of any fiscal quarter. In addition, the 2025 Credit Facility contains mandatory prepayment events, affirmative and negative covenants and events of default customary for a transaction of this type. The covenants, among other things, restrict additional indebtedness, liens, mergers or certain fundamental changes, asset dispositions, dividends and other restricted payments, transactions with affiliates, loans and investments and other matters customarily restricted in credit agreements of this type. The Company is required to make mandatory prepayments of the outstanding principal amount of loans under the 2025 Term Loan Facility with the net cash proceeds from certain disposition of assets and the receipt of insurance proceeds upon certain casualty and condemnation events, in each case, to the extent not reinvested within a specified time period, from excess cash flow beyond stated threshold amounts, and from the incurrence of certain indebtedness. The Company has the right to prepay its term loans under the 2025 Credit Agreement, in whole or in part, at any time without premium or penalty, subject to certain limitations and a 1.0% soft call premium applicable during the first 6 months following the closing date.

The Company was in compliance with all covenants at December 31, 2025.

The 2025 Credit Facility requires the Company and certain of its subsidiaries to pledge as collateral, subject to certain customary exclusions, substantially all of its assets, including 100% of the equity in certain domestic subsidiaries and 65% of the voting equity, and 100% of the non-voting equity, in certain foreign subsidiaries. The obligations under the 2025 Credit Facility are unconditionally guaranteed on a senior basis by the Company's material domestic subsidiaries, which guaranties are secured by the collateral.

With respect to the 2025 Revolving Facility, the Company is required to pay an unused commitment fee quarterly in arrears on the difference between committed amounts and amounts actually borrowed under the 2025 Revolving Facility equal to an applicable percentage of 0.25% to 0.38% per annum based on a first lien net leverage ratio. The Company is required to pay a letter of credit participation fee and a letter of credit fronting fee quarterly in arrears. The letter of credit participation fee is based upon the aggregate face amount of outstanding letters of credit at an applicable percentage of 3.0% to 3.5% based on a first lien net leverage ratio. The letter of credit fronting fee is 0.125% per annum on the face amount of each letter of credit.

In addition to the remaining unamortized debt issuance costs associated with the 2021 Credit Facility, debt issuance costs of $1.4 million related to the 2025 Revolving Facility are being amortized to interest expense over the life of the 2025 Revolving Facility. With respect to the 2025 Term Loan Facility, the Company incurred financing costs of $8.6 million upon closing of which approximately $0.8 million was expensed. The remaining $3.9 million of debt issuance costs related to the 2025 Term Loan Facility and $3.9 million of the original issue discount paid on the 2025 Term Loan Facility are being amortized to interest expense over the life of the term loan.

During 2025, the Company recorded interest expense related to its 2025 Revolving Facility of $0.2 million which consisted of an $0.1 million amount in unused commitment fees and $0.1 million associated with the amortization of the debt issuance

costs. During 2025, the Company recorded interest expense related to the 2025 Term Loan of $13.2 million which consisted of $12.7 million associated with borrowings bearing interest based on the SOFR rate, $0.3 million associated with the amortization of debt issuance costs, and $0.2 million associated with the accretion of the original issue discount.

2021 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 was set to mature on September 15, 2026, and a $250.0 million delayed draw term loan facility (the “2021 Term Loan” and together with the Revolving Facility, the “Credit Facility”), which was set to mature on September 15, 2028.

On August 21, 2025, the Company repaid the $242.5 million outstanding principal amount of the 2021 Term Loan in cash plus $1.2 million of accrued interest. The repayment resulted in a $0.4 million loss on the extinguishment of debt which is included in interest expense, net in the consolidated statement of operations and comprehensive income. The Company also terminated the Revolving Facility on August 21, 2025.

During 2025, the Company recorded interest expense related to its Revolving Facility of $1.3 million which consisted of $0.7 million in unused commitment fees and $0.6 million associated with the amortization of the debt issuance costs. During 2025, the Company recorded interest expense related to the 2021 Term Loan of $13.2 million associated with borrowings bearing interest at the SOFR option rate.

During 2024, the Company recorded interest expense related to its Revolving Facility of $1.8 million which consisted of $0.9 million in unused commitment fees and $0.9 million associated with the amortization of the debt issuance costs. During 2024, the Company recorded interest expense related to the 2021 Term Loan of $22.8 million associated with borrowings bearing interest at the SOFR option rate.

During 2023, the Company recorded interest expense related to its revolving facilities of $1.5 million which consisted of $0.6 million in unused commitment fees and $0.9 million associated with the amortization of the debt issuance costs. During 2023, the Company recorded interest expense related to the 2021 Term Loan of $22.2 million associated with borrowings bearing interest at the LIBO rate during the first six months of 2023 and the SOFR option rate during the last six months of 2023.

2024 Term Loan

On March 27, 2024, the Company entered into a $175.0 million first lien term loan facility (the “2024 Term Loan”), which was set to mature on March 27, 2031. The Company drew $125.0 million of the 2024 Term Loan upon closing and drew the remaining $50.0 million on March 27, 2025.

On August 21, 2025, the Company repaid the $160.3 million outstanding principal amount of the 2024 Term Loan in cash plus $0.9 million of accrued interest. The repayment resulted in a $6.7 million loss on the extinguishment of debt which is included in interest expense, net in the consolidated statement of operations and income.

During 2025, the Company recorded interest expense related to the 2024 Term Loan of $10.3 million which consisted of $9.4 million associated with borrowings bearing interest based on the SOFR rate, $0.2 million associated with unused commitment fees, $0.4 million associated with the amortization of debt issuance costs, and $0.3 million associated with the accretion of the original issue discount.

During 2024, the Company recorded interest expense related to the 2024 Term Loan of $11.5 million which consisted of $10.3 million associated with borrowings bearing interest based on the SOFR rate, $0.6 million associated with unused commitment fees, $0.3 million associated with the amortization of debt issuance costs, and $0.3 million associated with the accretion of the original issue discount.


	December 31, 2025		December 31, 2024
Current Portion
Gross carrying amount	$	4,000	$	10,313
Debt issuance costs	37		169
Unamortized original issue discount	37		189
Net carrying amount	$	3,926	$	9,955
Long-term Portion
Gross carrying amount	$	395,000	$	349,062
Debt issuance costs	3,634		2,333
Unamortized original issue discount	3,672		2,605
Net carrying amount	$	387,694	$	344,124

HOSTING ARRANGEMENTS (Details) - USD ($) $ in Thousands	12 Months Ended
HOSTING ARRANGEMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Intangible assets with definite lives
Hosting arrangement, amortization expense	$ 3,600	$ 3,800	$ 3,500
Current portion
Intangible assets with definite lives
Total gross	3,150	3,101
Accumulated amortization	(821)	(1,191)
Total net	2,329	1,910
Current portion \| Capitalized implementation costs
Intangible assets with definite lives
Total gross	3,067	2,631
Current portion \| Projects in progress
Intangible assets with definite lives
Total gross	83	470
Non-current portion
Intangible assets with definite lives
Total gross	6,076	6,685
Accumulated amortization	(2,875)	(2,453)
Total net	3,201	4,232
Non-current portion \| Capitalized implementation costs
Intangible assets with definite lives
Total gross	5,910	5,745
Non-current portion \| Projects in progress
Intangible assets with definite lives
Total gross	$ 166	$ 940

- 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

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2025
Audit Information [Abstract]
Auditor Firm ID	238
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Charlotte, North Carolina

STOCK-BASED COMPENSATION - Schedule of RSUs with Market Conditions Valuation Assumptions (Details)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (in years)	3 years
Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (in years)	4 years
Market-Based Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (in years)		5 years
Expected volatility, minimum (percentage)	74.09%
Expected volatility, maximum (percentage)	75.11%
Expected volatility rate (percentage)		68.06%
Risk-free interest rate, minimum (percentage)	3.52%
Risk-free interest rate, maximum (percentage)	3.91%
Risk free interest rate		4.13%
Expected dividend	0.00%	0.00%

STOCK-BASED COMPENSATION

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

The Company currently has two active plans; the LendingTree 2023 Stock Plan (the “Equity Award Plan”) and the LendingTree 2023 Inducement Grant Plan (the "Inducement Plan"), under which future awards may be granted. The Equity Award Plan currently covers outstanding stock options to acquire shares of the Company's common stock, restricted stock, restricted stock with performance conditions, RSUs and RSUs with performance conditions, and provides for the future grants of these and other equity awards. Under the Equity Award Plan and the Inducement Plan, the Company is authorized to grant stock options, restricted stock, RSUs, and other equity-based awards for up to 3.1 million and 0.1 million, respectively, of LendingTree shares of common stock to employees, and, under the Equity Plan only, to non-employee consultants and directors.

The Equity Award Plan and Inducement Plan each have a stated term of ten years and provides that the exercise price of stock options granted will not be less than the market price of the common stock on the grant date. The Equity Award Plan and Inducement Plan do not specify grant dates or vesting schedules, as those determinations are delegated to the Compensation Committee of the board of directors. Each grant agreement reflects the vesting schedule for that particular grant, as determined by the Compensation Committee. The Compensation Committee has the authority to modify the vesting provisions of an award.

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


	Year Ended December 31,
	2025		2024		2023
Cost of revenue	$	173	$	297	$	396
Selling and marketing expense	2,637		3,303		5,267
General and administrative expense	23,672		20,478		25,180
Product development	2,720		4,501		6,333
Restructuring and severance	255		—		2,506
Total non-cash compensation	$	29,457	$	28,579	$	39,682

In 2025, non-cash compensation within general and administrative expense includes $5.8 million of expense due to the acceleration of certain equity awards associated with our previous Founder and Chief Executive Officer.

For the years ended December 31, 2025, 2024, and 2023, the Company recognized $3.4 million, $4.7 million, and $7.4 million, respectively, of income tax benefit, including state taxes, related to non-cash compensation. Additionally, for the year ended December 31, 2025, 2024, and 2023 the Company recognized excess tax expense of $0.9 million, $4.4 million, and $7.8 million, respectively.

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)
Outstanding at December 31, 2024	371,386	$	226.17
Granted	—	—
Exercised	—	—
Forfeited	—	—
Expired	(11,909)	144.89
Outstanding at December 31, 2025	359,477	$	228.86	2.51	$	—
Options exercisable	359,477	$	228.86	2.51	$	—

As of December 31, 2025, there was no unrecognized compensation cost related to stock options.

Upon exercise, the intrinsic value represents the pre-tax difference between the Company's closing stock price on the exercise date and the exercise price, multiplied by the number of stock options exercised. During the years ended December 31, 2025 and 2023, there were no stock options exercised. During the year ended December 31, 2024, the total intrinsic value of stock options that were exercised was $4.2 million. Cash received from stock option exercises was $1.4 million and there was no related actual tax benefit realized due to the valuation allowance against net deferred tax assets for the year ended December 31, 2024.

During the years ended December 31, 2025, 2024, and 2023 there were no stock options granted.

During the years ended December 31, 2025, 2024 and 2023, the total grant date fair value of options vested was $5.7 million, $6.0 million and $11.9 million, respectively.

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)
Outstanding at December 31, 2024	699,312	$	227.74
Granted	—	—
Exercised	—	—
Forfeited	—	—
Expired	(217,643)	300.00
Outstanding at December 31, 2025	481,669	$	195.10	0.78	$	—
Options exercisable	481,669	$	195.10	0.78	$	—

these options on December 31, 2025. The intrinsic value changes based on the market value of the Company's common stock.

As of December 31, 2025, there was no unrecognized compensation cost related to stock options with market conditions.

No stock options with market conditions were granted in 2023, 2024 or 2025.

In December 2020, the Company granted graded-vesting stock options with a market condition to its former Chairman and Chief Executive Officer at a premium exercise price of $300, representing an approximate 25% premium over the closing market price of LendingTree's common stock on the date of grant. The performance measurement period ended on March 31, 2025 and the target number of shares expired, as reflected in the table above.

As of December 31, 2025, no additional performance-based nonqualified stock options with a market condition had been earned.

Restricted Stock Units

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


	RSUs
	Number of Units	Weighted Average Grant Date Fair Value
		(per unit)
Nonvested at December 31, 2024	569,460	$	46.37
Granted (a)	561,615	42.31
Vested	(369,294)	50.21
Forfeited	(41,321)	41.29
Nonvested at December 31, 2025	720,460	$	41.50

(a)The grant date fair value per share of the RSUs is calculated as the closing market price of LendingTree's common stock at the time of grant.

As of December 31, 2025, there was approximately $19.6 million of unrecognized compensation cost related to RSUs. These costs are expected to be recognized over a weighted-average period of approximately 1.7 years.

The total fair value of RSUs that vested during the years ended December 31, 2025, 2024, and 2023 was $16.3 million, $10.8 million and $6.9 million, respectively.

Restricted Stock Units with Market Conditions

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


	RSUs with Market Conditions (a)
	Number of Units	Weighted Average Grant Date Fair Value
		(per unit)
Nonvested at December 31, 2024	46,000	$	35.24
Granted	145,000	36.46
Vested	(60,527)	35.66
Forfeited	(51,473)	33.34
Nonvested at December 31, 2025	79,000	$	38.39


	Year Ended December 31,
	2025	2024
Expected term (1)	3.00 - 4.00 years	5.00 years
Expected volatility (2)	74.09% - 75.11%	68.06	%
Risk-free interest rate (3)	3.52% - 3.91%	4.13	%
Expected dividend (4)	—	—

(1)The expected term of RSUs with market conditions granted was calculated using the respective performance period plus any time-based vesting requirement.

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

(4)For all RSUs with market conditions granted, no dividends are expected to be paid over the contractual term of the stock options, resulting in a zero expected dividend rate.

As of December 31, 2025, there was approximately $2.6 million of unrecognized compensation cost related to RSUs with market conditions. These costs are expected to be recognized over a weighted-average period of approximately 2.6 years.

The total fair value of RSUs with market conditions that vested during the years ended December 31, 2025 and 2024 was $3.5 million and $1.2 million, respectively.

Employee Stock Purchase Plan

The Company has an employee stock purchase plan (“ESPP”), under which a total of 262,731 shares of the Company's common stock were reserved for issuance. 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 6-month periods ending on June 30 and December 31 of each year.

During the year ended December 31, 2025, 42,270 shares were purchased under the ESPP at a weighted average purchase price of $31.97 per share, resulting in cash proceeds of $1.4 million. During the year ended December 31, 2024, 45,690 shares were purchased under the ESPP at a weighted average purchase price of $28.10 per share, resulting in cash proceeds of $1.3 million. During the year ended December 31, 2023, 64,549 shares were purchased under the ESPP at a weighted average price of $19.03 per share, resulting in cash proceeds of $1.2 million. As of December 31, 2025 and 2024, 74,304 and 116,574 shares, respectively, were available for issuance under the ESPP.

For the years ended December 31, 2025, 2024 and 2023, the Company granted Employee Stock Purchase Rights to certain employees with a weighted average grant date fair value per share of $14.00, $12.68 and $8.51, 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:


	Year Ended December 31,
	2025	2024	2023
Expected term (1)	0.50 years	0.50 years	0.50 years
Expected dividend (2)	—	—	—
Expected volatility (3)	71% - 79%	78% - 82%	82%
Risk-free interest rate (4)	4.24% - 4.29%	5.28% - 5.33%	4.76% - 5.50%

(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.

PROPERTY AND EQUIPMENT - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Unamortized capitalized software development costs	$ 13.7	$ 15.1
Capitalized software development depreciation expense	$ 12.3	$ 13.5	$ 13.4

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical)	Dec. 31, 2023
2025 Convertible Notes
Interest rate	0.50%

SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

Revenue Recognition

Variable consideration is included in revenue if it is probable that a significant future reversal of cumulative revenue under the contract will not occur.

Our payment terms vary by customer and services offered. The term between invoicing and when payment is due is generally 30 days or less.

Cash and Cash Equivalents

Cash and cash equivalents include cash and short-term, highly liquid money market investments with original maturities of three months or less.

Restricted Cash

Cash escrowed or contractually restricted for a specific purpose is designated as restricted cash.

Accounts Receivable

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

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


	Year Ended December 31,
	2025		2024		2023
Balance, beginning of the period	$	1,407	$	2,222	$	2,317
Charges to earnings	264		171		1,752
Write-off of uncollectible accounts receivable	(369)		(986)		(2,274)
Recoveries collected	20		—		56
Assets held for sale	—		—		371
Balance, end of the period	$	1,322	$	1,407	$	2,222

Segment Reporting

Property and Equipment


Asset Category			Estimated Useful Lives



Computer equipment and capitalized software			1 to 5 years
Leasehold improvements			Lesser of asset life or life of lease
Furniture and other equipment			7 years

Hosting Arrangement that is a Service Contract

Software Development Costs

Goodwill and Indefinite-Lived Intangible Assets

Long-Lived Assets and Intangible Assets with Definite Lives

Capitalized implementation costs incurred in a hosting arrangement that is a service contract are also allocated to and included within long-lived asset groups tested for recoverability.

At December 31, 2025 and 2024, the Company performed its review of impairment triggering events for long-lived asset groups and determined that a triggering event had not occurred.

Assets and Liabilities Held for Sale

The Company classifies assets or disposal groups to be sold as held for sale in the period in which all of the following criteria are met:

•Management, having the authority to approve the action, commits to a plan to sell the asset or disposal group;

•The asset or disposal group is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets or disposal groups;

•An active program to locate a buyer and other actions required to complete the plan to sell the asset or disposal group have been initiated;

•The asset or disposal group is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and

•Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.

Equity Investments

Fair Value Measurements

•Level 1: Observable inputs, such as quoted prices for identical assets and liabilities in active markets obtained from independent sources.

Cost of Revenue

Product Development

Advertising and Promotional Expense

Advertising and promotional costs are expensed in the period incurred (except for production costs which are initially capitalized and then recognized as expense when the advertisement first runs) and principally represent offline costs, including television, print and radio advertising, and online advertising costs, including fees paid to search engines and distribution partners. Advertising and promotional expense was $770.7 million, $595.9 million and $391.6 million for the years ended December 31, 2025, 2024 and 2023, respectively, and is included in selling and marketing expense on the consolidated statements of operations and comprehensive income (loss).

Income Taxes

Stock-Based Compensation

LendingTree recognizes as expense non-cash compensation for all stock-based awards for which vesting is considered probable. Forfeitures are recognized when they occur.

Litigation Settlements and Contingencies

Litigation settlements and contingencies consists of expenses related to actual or anticipated litigation settlements.

Accounting Estimates

Certain Risks and Concentrations

Due to the nature of the mortgage lending industry, interest rate fluctuations may negatively impact future revenue from the Company's marketplace.

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.

Recently Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements

HOSTING ARRANGEMENTS

12 Months Ended

Dec. 31, 2025

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

HOSTING ARRANGEMENTS

The balance of capitalized implementation costs incurred in a hosting arrangement that is a service contract, which are recorded within prepaid and other current assets and other non-current assets, is as follows (in thousands):


	December 31, 2025				December 31, 2024
	Current portion		Non-current portion		Current portion		Non-current portion
Capitalized implementation costs	$	3,067	$	5,910	$	2,631	$	5,745
Projects in progress	83		166		470		940
Total gross	3,150		6,076		3,101		$	6,685
Accumulated amortization	(821)		(2,875)		(1,191)		(2,453)
Total net	$	2,329	$	3,201	$	1,910	$	4,232

Amortization expense included within general and administrative expense on the consolidated statement of operations and comprehensive income (loss) associated with these capitalized implementation costs was $3.6 million, $3.8 million and $3.5 million for the years ended December 31, 2025, 2024 and 2023, respectively.

STOCK-BASED COMPENSATION - Schedule of Non-Cash Compensation Expense Related to Equity Awards (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	$ 29,457	$ 28,579	$ 39,682
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	173	297	396
Selling and marketing expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	2,637	3,303	5,267
General and administrative expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	23,672	20,478	25,180
Product development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	2,720	4,501	6,333
Restructuring and severance
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	$ 255	$ 0	$ 2,506

EARNINGS PER SHARE and SHAREHOLDERS' EQUITY - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Jul. 31, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of diluted earnings per share		200,000	0
Aggregate shares to be sold, maximum value				$ 50.0
Purchase of treasury stock (in shares)	0	0	0
Remaining authorized repurchase amount	$ 96.7
2025 Convertible Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Interest rate	0.50%	0.50%	0.50%
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of diluted earnings per share	800,000	900,000	1,200,000
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of diluted earnings per share		0	500,000
Convertible Debt
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of diluted earnings per share		600,000	1,200,000

RESTRUCTURING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2025

Restructuring and Related Activities [Abstract]

Schedule of rollforward of accrued balance for restructuring activities


	Accrued Balance at December 31, 2023		Income Statement Impact		Payments		Accrued Balance at December 31, 2024
Q3 2023 action
Employee separation payments	254		(7)		(247)		—
Q2 2023 action
Employee separation payments	34		4		(38)		—
Q1 2023 action
Employee separation payments	421		15		(436)		—
	$	709	$	12	$	(721)	$	—

EARNINGS PER SHARE and SHAREHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Schedule of computation of basic and diluted (loss) earnings per share

The following table presents the calculation of basic and diluted net income (loss) per share for the periods presented (in thousands, except per share amounts):


	Year Ended December 31,
	2025		2024		2023
Numerator:
Net income (loss)	$	151,308	$	(41,704)	$	(122,404)
Add back interest expense, net of tax attributable to assumed conversion of convertible senior notes	234		—		—
Net income (loss) attributable to common stockholders-diluted	$	151,542	$	(41,704)	$	(122,404)

Weighted average basic common shares	13,584		13,269		12,941
Effect of stock options	—		—		—
Effect of dilutive share awards	358		—		—
Dilutive effect of assumed conversion of convertible senior notes	120		—		—
Weighted average diluted common shares	14,062		13,269		12,941

Net income (loss) attributable to common shareholders-basic	$	11.14	$	(3.14)	$	(9.46)
Net income (loss) attributable to common shareholders-diluted	$	10.78	$	(3.14)	$	(9.46)

LEASES - Schedule of lease maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Leases [Abstract]
2026	$ 8,186
2027	6,448
2028	6,017
2029	6,176
2030	6,339
Thereafter	39,856
Total lease payments	73,022
Less: Interest	25,031
Operating lease, liability	$ 47,991	$ 75,000

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Dec. 31, 2025
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS In the fourth quarter of 2022, the Company's Board of Directors approved an additional $0.5 million contribution to the LendingTree Foundation that the Company paid in 2023. Officers of the Company serve as officers of the LendingTree Foundation.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
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-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

DEBT - Schedule of Component of the Notes (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Debt Instrument [Line Items]
Long-term debt	$ 387,694	$ 344,124
2025 Convertible Notes
Debt Instrument [Line Items]
Gross carrying amount		115,307
Debt issuance costs		331
Long-term debt		$ 114,976

- 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

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
State and local income taxes, net of federal effect	112.80%
Reduction to full valuation allowance	$ 149,541	$ (5,045)	$ (17,103)
Valuation allowance	18,008	167,549	162,504	$ 145,401
Unrecognized tax benefits	$ 3,953	$ 3,721	$ 3,424

COMMITMENTS (Details) - Surety bond $ in Thousands	Dec. 31, 2025 USD ($)
Commitment
Total Amounts Committed	$ 3,243
Less Than 1 year	3,243
1-3 years	0
3-5 years	0
More Than 5 years	$ 0

STOCK-BASED COMPENSATION - Schedules - Performance Options (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Sep. 29, 2023
Aggregate Intrinsic Value
Share price (in dollars per share)	$ 53.09			$ 15.50
Performance Options
Number of Options
Outstanding at the beginning of the period (in shares)	699,312
Granted (in shares)	0	0	0
Exercised (in shares)	0
Forfeited (in shares)	0
Expired (in shares)	(217,643)
Outstanding at the end of the period (in shares)	481,669	699,312
Options exercisable at the end of the period (in shares)	481,669
Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 227.74
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Forfeited (in dollars per share)	0
Expired (in dollars per share)	300.00
Outstanding at the end of the period (in dollars per share)	195.10	$ 227.74
Options exercisable at the end of the period (in dollars per share)	$ 195.10
Weighted Average Remaining Contractual Term
Outstanding at the end of the period (in years)	9 months 10 days
Options exercisable at the end of the period (in years)	9 months 10 days
Aggregate Intrinsic Value
Outstanding at the end of the period	$ 0
Options exercisable at the end of the period	$ 0

BENEFIT PLANS	12 Months Ended
BENEFIT PLANS	Dec. 31, 2025
Retirement Benefits [Abstract]
BENEFIT PLANS	BENEFIT PLANSThe Company operates a retirement savings plan for its employees in the United States that is qualified under Section 401(k) of the Internal Revenue Code. Employees are eligible to enroll in the plan upon date of hire. Participating employees may contribute up to 50% of their pre-tax earnings, but not more than statutory limits ($23,500 for 2025, $23,000 for 2024, and $22,500 for 2023). The company match contribution is fifty cents for each dollar a participant contributes to the plan, with a maximum contribution of 6% of a participant's eligible earnings. Matching contributions are invested in the same manner as each participant's voluntary contributions in the investment options provided under the plan. LendingTree stock is not included in the available investment options or the plan assets. Funds contributed to the plan vest according to the participant's years of service, with one year of service vesting at 33%, two years of service vesting at 66%, and three years or more of service vesting at 100%. Matching contributions were approximately $2.6 million, $2.3 million and $2.2 million for the years ended December 31, 2025, 2024 and 2023, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 3
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-URI https://asc.fasb.org/1943274/2147480266/715-60-50-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

HOSTING ARRANGEMENTS (Tables)

12 Months Ended

Dec. 31, 2025

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of capitalized implementation costs


	December 31, 2025				December 31, 2024
	Current portion		Non-current portion		Current portion		Non-current portion
Capitalized implementation costs	$	3,067	$	5,910	$	2,631	$	5,745
Projects in progress	83		166		470		940
Total gross	3,150		6,076		3,101		$	6,685
Accumulated amortization	(821)		(2,875)		(1,191)		(2,453)
Total net	$	2,329	$	3,201	$	1,910	$	4,232

INCOME TAXES - Income Taxes Paid (Details) $ in Thousands	12 Months Ended
INCOME TAXES - Income Taxes Paid (Details) $ in Thousands	Dec. 31, 2025 USD ($)
Income Tax Paid, by Individual Jurisdiction [Line Items]
Federal	$ 305
Foreign	135
Total income taxes paid, net of refunds received	1,534
Illinois
Income Tax Paid, by Individual Jurisdiction [Line Items]
State and Local	780
Other U.S. state and local
Income Tax Paid, by Individual Jurisdiction [Line Items]
State and Local	$ 314

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true