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Side-by-side financial comparison of LendingClub Corp (LC) and P3 Health Partners Inc. (PIII). Click either name above to swap in a different company.
P3 Health Partners Inc. is the larger business by last-quarter revenue ($384.8M vs $252.3M, roughly 1.5× LendingClub Corp). LendingClub Corp runs the higher net margin — 20.5% vs -19.6%, a 40.1% gap on every dollar of revenue. On growth, LendingClub Corp posted the faster year-over-year revenue change (15.9% vs 3.8%). Over the past eight quarters, LendingClub Corp's revenue compounded faster (16.1% CAGR vs -0.5%).
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.
P3 Health Partners Inc. is a population health management and value-based care services firm operating primarily in the United States. It partners with primary care providers and health systems to deliver coordinated, high-quality care for patient populations, especially Medicare Advantage beneficiaries, focusing on improving health outcomes and lowering unnecessary healthcare costs.
LC vs PIII — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $252.3M | $384.8M |
| Net Profit | $51.6M | $-75.5M |
| Gross Margin | — | — |
| Operating Margin | — | -40.0% |
| Net Margin | 20.5% | -19.6% |
| Revenue YoY | 15.9% | 3.8% |
| Net Profit YoY | 341.0% | -28.8% |
| EPS (diluted) | $0.44 | $-23.08 |
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 | $384.8M | ||
| Q3 25 | $266.2M | $345.3M | ||
| Q2 25 | $248.4M | $355.8M | ||
| Q1 25 | $217.7M | $373.2M | ||
| Q4 24 | $217.2M | $370.7M | ||
| Q3 24 | $201.9M | $362.1M | ||
| Q2 24 | $187.2M | $379.2M |
| Q1 26 | $51.6M | — | ||
| Q4 25 | — | $-75.5M | ||
| Q3 25 | $44.3M | $-31.6M | ||
| Q2 25 | $38.2M | $-20.4M | ||
| Q1 25 | $11.7M | $-20.5M | ||
| Q4 24 | — | $-58.6M | ||
| Q3 24 | $14.5M | $-46.5M | ||
| Q2 24 | $14.9M | $-12.0M |
| Q1 26 | — | — | ||
| Q4 25 | 18.8% | -40.0% | ||
| Q3 25 | 21.5% | -12.8% | ||
| Q2 25 | 21.7% | -9.6% | ||
| Q1 25 | 7.2% | -10.2% | ||
| Q4 24 | 5.1% | -37.4% | ||
| Q3 24 | 8.9% | -29.5% | ||
| Q2 24 | 10.4% | -8.3% |
| Q1 26 | 20.5% | — | ||
| Q4 25 | — | -19.6% | ||
| Q3 25 | 16.6% | -9.1% | ||
| Q2 25 | 15.4% | -5.7% | ||
| Q1 25 | 5.4% | -5.5% | ||
| Q4 24 | — | -15.8% | ||
| Q3 24 | 7.2% | -12.8% | ||
| Q2 24 | 8.0% | -3.2% |
| Q1 26 | $0.44 | — | ||
| Q4 25 | $0.36 | $-23.08 | ||
| Q3 25 | $0.37 | $-9.67 | ||
| Q2 25 | $0.33 | $-6.23 | ||
| Q1 25 | $0.10 | $-6.28 | ||
| Q4 24 | $0.08 | $-23.13 | ||
| Q3 24 | $0.13 | $-15.70 | ||
| Q2 24 | $0.13 | $-7.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $25.0M |
| Total DebtLower is stronger | — | $228.4M |
| Stockholders' EquityBook value | $1.5B | $-155.2M |
| Total Assets | $11.9B | $656.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $25.0M | ||
| Q3 25 | — | $37.7M | ||
| Q2 25 | — | $38.6M | ||
| Q1 25 | — | $40.1M | ||
| Q4 24 | — | $38.8M | ||
| Q3 24 | — | $63.0M | ||
| Q2 24 | — | $73.1M |
| Q1 26 | — | — | ||
| Q4 25 | $0 | $228.4M | ||
| Q3 25 | $0 | $252.8M | ||
| Q2 25 | $0 | $182.0M | ||
| Q1 25 | $0 | $171.1M | ||
| Q4 24 | $0 | $108.9M | ||
| Q3 24 | — | $133.2M | ||
| Q2 24 | — | $133.1M |
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.5B | $-155.2M | ||
| Q3 25 | $1.5B | $-18.7M | ||
| Q2 25 | $1.4B | $44.5M | ||
| Q1 25 | $1.4B | $63.3M | ||
| Q4 24 | $1.3B | $75.9M | ||
| Q3 24 | $1.3B | $120.5M | ||
| Q2 24 | $1.3B | $166.8M |
| Q1 26 | $11.9B | — | ||
| Q4 25 | $11.6B | $656.6M | ||
| Q3 25 | $11.1B | $683.6M | ||
| Q2 25 | $10.8B | $731.6M | ||
| Q1 25 | $10.5B | $783.9M | ||
| Q4 24 | $10.6B | $783.4M | ||
| Q3 24 | $11.0B | $833.3M | ||
| Q2 24 | $9.6B | $892.8M |
| Q1 26 | — | — | ||
| Q4 25 | 0.00× | — | ||
| Q3 25 | 0.00× | — | ||
| Q2 25 | 0.00× | 4.09× | ||
| Q1 25 | 0.00× | 2.71× | ||
| Q4 24 | 0.00× | 1.43× | ||
| Q3 24 | — | 1.11× | ||
| Q2 24 | — | 0.80× |
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 | — | $-25.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-2.7B | $-25.7M | ||
| Q3 25 | $-770.8M | $-15.4M | ||
| Q2 25 | $-713.1M | $-16.6M | ||
| Q1 25 | $-339.3M | $-33.5M | ||
| Q4 24 | $-2.6B | $-57.2M | ||
| Q3 24 | $-669.8M | $-22.6M | ||
| Q2 24 | $-932.5M | $-10.2M |
| Q1 26 | — | — | ||
| Q4 25 | $-2.9B | — | ||
| Q3 25 | $-791.8M | — | ||
| Q2 25 | $-803.8M | — | ||
| Q1 25 | $-352.3M | — | ||
| Q4 24 | $-2.7B | — | ||
| Q3 24 | $-682.3M | — | ||
| Q2 24 | $-945.3M | — |
| Q1 26 | — | — | ||
| Q4 25 | -1076.0% | — | ||
| Q3 25 | -297.4% | — | ||
| Q2 25 | -323.5% | — | ||
| Q1 25 | -161.8% | — | ||
| Q4 24 | -1237.8% | — | ||
| Q3 24 | -338.0% | — | ||
| Q2 24 | -504.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | 52.7% | — | ||
| Q3 25 | 7.9% | — | ||
| Q2 25 | 36.5% | — | ||
| Q1 25 | 6.0% | — | ||
| Q4 24 | 25.0% | 0.0% | ||
| Q3 24 | 6.2% | 0.0% | ||
| Q2 24 | 6.9% | 0.0% |
| 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
LC
Segment breakdown not available.
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
