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Side-by-side financial comparison of Fat Brands, Inc (FAT) and LendingClub Corp (LC). Click either name above to swap in a different company.
LendingClub Corp is the larger business by last-quarter revenue ($252.3M vs $140.0M, roughly 1.8× Fat Brands, Inc). LendingClub Corp runs the higher net margin — 20.5% vs -41.6%, a 62.0% gap on every dollar of revenue. On growth, LendingClub Corp posted the faster year-over-year revenue change (15.9% vs -2.3%). Over the past eight quarters, LendingClub Corp's revenue compounded faster (16.1% CAGR vs -6.1%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
LendingClub Corporation is an American financial services company headquartered in San Francisco, California. It was the first peer-to-peer lender to register its offerings as securities with the Securities and Exchange Commission (SEC), and to offer loan trading on a secondary market. At its height, LendingClub was the world's largest peer-to-peer lending platform. The company reported that $15.98 billion in loans had been originated through its platform up to December 31, 2015.
FAT vs LC — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $252.3M |
| Net Profit | $-58.2M | $51.6M |
| Gross Margin | — | — |
| Operating Margin | -12.4% | — |
| Net Margin | -41.6% | 20.5% |
| Revenue YoY | -2.3% | 15.9% |
| Net Profit YoY | -30.1% | 341.0% |
| EPS (diluted) | $-3.39 | $0.44 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $252.3M | ||
| Q4 25 | — | $266.5M | ||
| Q3 25 | $140.0M | $266.2M | ||
| Q2 25 | $146.8M | $248.4M | ||
| Q1 25 | $142.0M | $217.7M | ||
| Q4 24 | $145.3M | $217.2M | ||
| Q3 24 | $143.4M | $201.9M | ||
| Q2 24 | $152.0M | $187.2M |
| Q1 26 | — | $51.6M | ||
| Q4 25 | — | — | ||
| Q3 25 | $-58.2M | $44.3M | ||
| Q2 25 | $-54.2M | $38.2M | ||
| Q1 25 | $-46.0M | $11.7M | ||
| Q4 24 | $-67.4M | — | ||
| Q3 24 | $-44.8M | $14.5M | ||
| Q2 24 | $-39.4M | $14.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 18.8% | ||
| Q3 25 | -12.4% | 21.5% | ||
| Q2 25 | -10.6% | 21.7% | ||
| Q1 25 | -6.0% | 7.2% | ||
| Q4 24 | -27.1% | 5.1% | ||
| Q3 24 | -6.2% | 8.9% | ||
| Q2 24 | -1.8% | 10.4% |
| Q1 26 | — | 20.5% | ||
| Q4 25 | — | — | ||
| Q3 25 | -41.6% | 16.6% | ||
| Q2 25 | -36.9% | 15.4% | ||
| Q1 25 | -32.4% | 5.4% | ||
| Q4 24 | -46.4% | — | ||
| Q3 24 | -31.2% | 7.2% | ||
| Q2 24 | -25.9% | 8.0% |
| Q1 26 | — | $0.44 | ||
| Q4 25 | — | $0.36 | ||
| Q3 25 | $-3.39 | $0.37 | ||
| Q2 25 | $-3.17 | $0.33 | ||
| Q1 25 | $-2.73 | $0.10 | ||
| Q4 24 | $-4.06 | $0.08 | ||
| Q3 24 | $-2.74 | $0.13 | ||
| Q2 24 | $-2.43 | $0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $-585.8M | $1.5B |
| Total Assets | $1.2B | $11.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $0 | ||
| Q3 25 | $1.3B | $0 | ||
| Q2 25 | $1.3B | $0 | ||
| Q1 25 | $1.3B | $0 | ||
| Q4 24 | $1.3B | $0 | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.2B | — |
| Q1 26 | — | $1.5B | ||
| Q4 25 | — | $1.5B | ||
| Q3 25 | $-585.8M | $1.5B | ||
| Q2 25 | $-536.5M | $1.4B | ||
| Q1 25 | $-493.9M | $1.4B | ||
| Q4 24 | $-455.7M | $1.3B | ||
| Q3 24 | $-386.1M | $1.3B | ||
| Q2 24 | $-338.6M | $1.3B |
| Q1 26 | — | $11.9B | ||
| Q4 25 | — | $11.6B | ||
| Q3 25 | $1.2B | $11.1B | ||
| Q2 25 | $1.2B | $10.8B | ||
| Q1 25 | $1.3B | $10.5B | ||
| Q4 24 | $1.3B | $10.6B | ||
| Q3 24 | $1.3B | $11.0B | ||
| Q2 24 | $1.4B | $9.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-14.5M | — |
| Free Cash FlowOCF − Capex | $-16.9M | — |
| FCF MarginFCF / Revenue | -12.1% | — |
| Capex IntensityCapex / Revenue | 1.7% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-75.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $-2.7B | ||
| Q3 25 | $-14.5M | $-770.8M | ||
| Q2 25 | $-26.9M | $-713.1M | ||
| Q1 25 | $-13.2M | $-339.3M | ||
| Q4 24 | $-10.4M | $-2.6B | ||
| Q3 24 | $-3.2M | $-669.8M | ||
| Q2 24 | $-14.2M | $-932.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-2.9B | ||
| Q3 25 | $-16.9M | $-791.8M | ||
| Q2 25 | $-29.3M | $-803.8M | ||
| Q1 25 | $-17.8M | $-352.3M | ||
| Q4 24 | $-11.0M | $-2.7B | ||
| Q3 24 | $-11.1M | $-682.3M | ||
| Q2 24 | $-24.4M | $-945.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | -1076.0% | ||
| Q3 25 | -12.1% | -297.4% | ||
| Q2 25 | -20.0% | -323.5% | ||
| Q1 25 | -12.5% | -161.8% | ||
| Q4 24 | -7.6% | -1237.8% | ||
| Q3 24 | -7.7% | -338.0% | ||
| Q2 24 | -16.1% | -504.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 52.7% | ||
| Q3 25 | 1.7% | 7.9% | ||
| Q2 25 | 1.6% | 36.5% | ||
| Q1 25 | 3.2% | 6.0% | ||
| Q4 24 | 0.4% | 25.0% | ||
| Q3 24 | 5.5% | 6.2% | ||
| Q2 24 | 6.7% | 6.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | -17.41× | ||
| Q2 25 | — | -18.68× | ||
| Q1 25 | — | -29.07× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -46.33× | ||
| Q2 24 | — | -62.57× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FAT
| Restaurant Sales | $96.6M | 69% |
| Royalty | $21.6M | 15% |
| Factory | $9.6M | 7% |
| Advertising | $9.1M | 7% |
| Franchisor | $1.5M | 1% |
| Other | $1.5M | 1% |
LC
Segment breakdown not available.
