The following table sets forth our unaudited Consolidated Statements of Operations data for each of the eight quarters ended December 31, 2017. The unaudited quarterly statements of operations data set forth below have been prepared on the same basis as our audited consolidated financial statements and reflect, in the opinion of management, all adjustments of a normal, recurring nature that are necessary for a fair statement of the unaudited quarterly statements of operations data. Our historical results are not necessarily indicative of our future operating results. The following quarterly consolidated financial data should be read in conjunction with the consolidated financial statements and the related notes included elsewhere in this Report.



Quarters Ended	December 31, 2017			September 30, 2017			June 30, 2017			March 31, 2017
Net revenue:
Transaction fees	$	120,697		$	121,905		$	107,314		$	98,692
Investor fees ⁽¹⁾	24,313			20,499			21,116			21,180
Gain (Loss) on sales of loans ⁽¹⁾	10,353			6,680			4,445			1,892
Other revenue ⁽¹⁾	1,366			1,375			1,949			1,746
Net interest income and fair value adjustments:
Interest income	141,471			151,532			157,260			160,996
Interest expense	(122,796		)	(139,681		)	(150,340		)	(158,607		)
Net fair value adjustments ⁽¹⁾	(18,949		)	(8,280		)	(2,171		)	(1,417		)
Net interest income and fair value adjustments ⁽¹⁾	(274		)	3,571			4,749			972
Total net revenue	156,455			154,030			139,573			124,482
Operating expenses:
Sales and marketing	60,130			59,570			55,582			54,583
Origination and servicing	23,847			21,321			21,274			20,449
Engineering and product development	37,926			32,860			35,718			35,760
Other general and administrative	48,689			46,925			52,495			43,574
Class action litigation settlement	77,250			—			—			—
Total operating expenses	247,842			160,676			165,069			154,366
Loss before income tax expense	(91,387		)	(6,646		)	(25,496		)	(29,884		)
Income tax expense (benefit)	711			13			(52		)	(40		)
Consolidated net loss	(92,098		)	(6,659		)	(25,444		)	(29,844		)
Less: Income (Loss) attributable to noncontrolling interests	(91		)	(129		)	10			—
LendingClub net loss	$	(92,007	)	$	(6,530	)	$	(25,454	)	$	(29,844	)
Other data ⁽²⁾:
Loan originations ⁽³⁾	$	2,438,267		$	2,442,867		$	2,147,335		$	1,958,749
Weighted-average common shares - Basic	416,005,213			412,778,995			406,676,996			400,308,521
Weighted-average common shares - Diluted	416,005,213			412,778,995			406,676,996			400,308,521
Net loss per share attributable to LendingClub:
Basic	$	(0.22	)	$	(0.02	)	$	(0.06	)	$	(0.07	)
Diluted	$	(0.22	)	$	(0.02	)	$	(0.06	)	$	(0.07	)


⁽¹⁾	Prior period amounts have been reclassified to conform to the current period presentation. See “Note 1. Basis of Presentation” for additional information.


⁽²⁾	See “Part II – Item 7 – Management’s Discussion and Analysis – Key Operating and Financial Metrics” for additional information regarding loan originations.


⁽³⁾	Loan originations include loans facilitated through the platform plus outstanding purchase commitments at period end.



Quarters Ended	December 31, 2016			September 30, 2016			June 30, 2016			March 31, 2016
Net revenue:
Transaction fees	$	101,568		$	100,813		$	96,605		$	124,508
Investor fees ⁽¹⁾	26,027			18,477			14,656			20,487
Gain (Loss) on sales of loans ⁽¹⁾	115			(11,519		)	(10,447		)	4,699
Other revenue ⁽¹⁾	1,492			4,838			1,577			1,571
Net interest income and fair value adjustments:
Interest income	167,230			171,868			179,685			177,879
Interest expense	(164,645		)	(169,444		)	(177,596		)	(176,683		)
Net fair value adjustments ⁽¹⁾	(1,265		)	(477		)	(1,040		)	(167		)
Net interest income and fair value adjustments ⁽¹⁾	1,320			1,947			1,049			1,029
Total net revenue	130,522			$	114,556		103,440			152,294
Operating expenses:
Sales and marketing	55,457			44,901			49,737			66,575
Origination and servicing	18,296			16,332			20,934			19,198
Engineering and product development	32,522			29,428			29,209			24,198
Other general and administrative	56,740			58,940			53,457			38,035
Goodwill impairment	—			1,650			35,400			—
Total operating expenses	163,015			151,251			188,737			148,006
Income (Loss) before income tax expense	(32,493		)	(36,695		)	(85,297		)	4,288
Income tax expense (benefit)	(224		)	(209		)	(3,946		)	151
Consolidated net income (loss)	(32,269		)	(36,486		)	(81,351		)	4,137
Less: Income (Loss) attributable to noncontrolling interests	—			—			—			—
LendingClub net income (loss)	$	(32,269	)	$	(36,486	)	$	(81,351	)	$	4,137
Other data ⁽²⁾:
Loan originations ⁽³⁾	$	1,987,278		$	1,972,034		$	1,955,401		$	2,750,033
Weighted-average common shares - Basic	395,877,053			391,453,316			382,893,402			380,266,636
Weighted-average common shares - Diluted	395,877,053			391,453,316			382,893,402			392,397,825
Net loss per share attributable to LendingClub:
Basic	$	(0.08	)	$	(0.09	)	$	(0.21	)	$	0.01
Diluted	$	(0.08	)	$	(0.09	)	$	(0.21	)	$	0.01


⁽¹⁾	Prior period amounts have been reclassified to conform to the current period presentation. See “Note 1. Basis of Presentation” for additional information.


⁽²⁾	See “Part II – Item 7 – Management’s Discussion and Analysis – Key Operating and Financial Metrics” for additional information regarding loan originations.


⁽³⁾	Loan originations include loans facilitated through the platform plus outstanding purchase commitments at period end.