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Side-by-side financial comparison of LendingClub Corp (LC) and INNOVATE Corp. (VATE). Click either name above to swap in a different company.
INNOVATE Corp. is the larger business by last-quarter revenue ($382.7M vs $252.3M, roughly 1.5× LendingClub Corp). LendingClub Corp runs the higher net margin — 20.5% vs -1.9%, a 22.4% gap on every dollar of revenue. On growth, INNOVATE Corp. posted the faster year-over-year revenue change (61.7% vs 15.9%). Over the past eight quarters, LendingClub Corp's revenue compounded faster (16.1% CAGR vs 10.2%).
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.
Innovate Corp. is an American public financial services company founded in 1994.
LC vs VATE — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $252.3M | $382.7M |
| Net Profit | $51.6M | $-7.4M |
| Gross Margin | — | 15.4% |
| Operating Margin | — | 3.7% |
| Net Margin | 20.5% | -1.9% |
| Revenue YoY | 15.9% | 61.7% |
| Net Profit YoY | 341.0% | 55.4% |
| EPS (diluted) | $0.44 | $-0.57 |
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 | $382.7M | ||
| Q3 25 | $266.2M | $347.1M | ||
| Q2 25 | $248.4M | $242.0M | ||
| Q1 25 | $217.7M | $274.2M | ||
| Q4 24 | $217.2M | $236.6M | ||
| Q3 24 | $201.9M | $242.2M | ||
| Q2 24 | $187.2M | $313.1M |
| Q1 26 | $51.6M | — | ||
| Q4 25 | — | $-7.4M | ||
| Q3 25 | $44.3M | $-8.9M | ||
| Q2 25 | $38.2M | $-19.8M | ||
| Q1 25 | $11.7M | $-24.5M | ||
| Q4 24 | — | $-16.6M | ||
| Q3 24 | $14.5M | $-15.0M | ||
| Q2 24 | $14.9M | $14.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 15.4% | ||
| Q3 25 | — | 14.3% | ||
| Q2 25 | — | 18.8% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | — | 19.6% | ||
| Q3 24 | — | 19.9% | ||
| Q2 24 | — | 21.0% |
| Q1 26 | — | — | ||
| Q4 25 | 18.8% | 3.7% | ||
| Q3 25 | 21.5% | 1.8% | ||
| Q2 25 | 21.7% | 2.0% | ||
| Q1 25 | 7.2% | 1.2% | ||
| Q4 24 | 5.1% | 1.1% | ||
| Q3 24 | 8.9% | 2.4% | ||
| Q2 24 | 10.4% | 9.2% |
| Q1 26 | 20.5% | — | ||
| Q4 25 | — | -1.9% | ||
| Q3 25 | 16.6% | -2.6% | ||
| Q2 25 | 15.4% | -8.2% | ||
| Q1 25 | 5.4% | -8.9% | ||
| Q4 24 | — | -7.0% | ||
| Q3 24 | 7.2% | -6.2% | ||
| Q2 24 | 8.0% | 4.6% |
| Q1 26 | $0.44 | — | ||
| Q4 25 | $0.36 | $-0.57 | ||
| Q3 25 | $0.37 | $-0.71 | ||
| Q2 25 | $0.33 | $-1.67 | ||
| Q1 25 | $0.10 | $-1.89 | ||
| Q4 24 | $0.08 | $-0.72 | ||
| Q3 24 | $0.13 | $-1.18 | ||
| Q2 24 | $0.13 | $1.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $112.1M |
| Total DebtLower is stronger | — | $80.3M |
| Stockholders' EquityBook value | $1.5B | $-240.1M |
| Total Assets | $11.9B | $950.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $112.1M | ||
| Q3 25 | — | $35.5M | ||
| Q2 25 | — | $33.4M | ||
| Q1 25 | — | $33.3M | ||
| Q4 24 | — | $48.8M | ||
| Q3 24 | — | $51.0M | ||
| Q2 24 | — | $80.2M |
| Q1 26 | — | — | ||
| Q4 25 | $0 | $80.3M | ||
| Q3 25 | $0 | $97.3M | ||
| Q2 25 | $0 | $160.1M | ||
| Q1 25 | $0 | $139.9M | ||
| Q4 24 | $0 | $500.6M | ||
| Q3 24 | — | $502.4M | ||
| Q2 24 | — | $638.3M |
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.5B | $-240.1M | ||
| Q3 25 | $1.5B | $-233.3M | ||
| Q2 25 | $1.4B | $-224.8M | ||
| Q1 25 | $1.4B | $-204.2M | ||
| Q4 24 | $1.3B | $-180.4M | ||
| Q3 24 | $1.3B | $-163.1M | ||
| Q2 24 | $1.3B | $-149.0M |
| Q1 26 | $11.9B | — | ||
| Q4 25 | $11.6B | $950.1M | ||
| Q3 25 | $11.1B | $913.2M | ||
| Q2 25 | $10.8B | $890.9M | ||
| Q1 25 | $10.5B | $868.0M | ||
| Q4 24 | $10.6B | $891.1M | ||
| Q3 24 | $11.0B | $897.2M | ||
| Q2 24 | $9.6B | $898.9M |
| 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 | — | $101.1M |
| 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 | $101.1M | ||
| Q3 25 | $-770.8M | $19.2M | ||
| Q2 25 | $-713.1M | $40.4M | ||
| Q1 25 | $-339.3M | $-14.1M | ||
| Q4 24 | $-2.6B | $41.4M | ||
| Q3 24 | $-669.8M | $-28.4M | ||
| Q2 24 | $-932.5M | $21.5M |
| Q1 26 | — | — | ||
| Q4 25 | $-2.9B | — | ||
| Q3 25 | $-791.8M | $19.0M | ||
| Q2 25 | $-803.8M | — | ||
| Q1 25 | $-352.3M | $-18.8M | ||
| Q4 24 | $-2.7B | $34.2M | ||
| Q3 24 | $-682.3M | $-31.5M | ||
| Q2 24 | $-945.3M | $18.4M |
| Q1 26 | — | — | ||
| Q4 25 | -1076.0% | — | ||
| Q3 25 | -297.4% | 5.5% | ||
| Q2 25 | -323.5% | — | ||
| Q1 25 | -161.8% | -6.9% | ||
| Q4 24 | -1237.8% | 14.5% | ||
| Q3 24 | -338.0% | -13.0% | ||
| Q2 24 | -504.9% | 5.9% |
| Q1 26 | — | — | ||
| Q4 25 | 52.7% | — | ||
| Q3 25 | 7.9% | 0.1% | ||
| Q2 25 | 36.5% | — | ||
| Q1 25 | 6.0% | 1.7% | ||
| Q4 24 | 25.0% | 3.0% | ||
| Q3 24 | 6.2% | 1.3% | ||
| Q2 24 | 6.9% | 1.0% |
| 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× | 1.49× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LC
Segment breakdown not available.
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
