HAPN · Happen Inc Q2 FY2026 earnings call record财报电话会记录

“We delivered another standout quarter, growing loan originations 29% year-over-year to $3.1 billion, delivering record pre-tax income of $76 million, and increasing return on tangible common equity to nearly 16%.”

“Our brand is centered around our customer, the motivated middle, who are high FICO, high income, digitally savvy consumers actively managing their financial lives.”

“Marketplace volume grew 20% year-over-year with strong participation across all programs, existing investors buying in scale, new investors coming on board, and average loan sales prices holding firm when adjusted for benchmark rates.”

“Within our call center, we delivered another record quarter of cost efficiency with 10% fewer staff year-on-year, despite growing loan volumes by nearly 30%.”

“Turning to page four of our earnings presentation, loan originations grew by 29% to over $3.1 billion, above the high end of our guidance range.”

“Diving into the results, origination fees in the quarter were $164 million, up 87% year-over-year, driven by higher volumes and the immediate recognition of origination fees under fair value accounting.”

“Another useful way to evaluate performance under the accounting transition is risk-adjusted revenue or revenue less provision for credit losses, which grew 31% year-over-year to $274 million due to the revenue growth we just discussed and the net provision benefit this quarter.”

“Marketing spend increased approximately $7 million sequentially, consistent with our higher origination volumes, while marketing as a percentage of originations improved sequentially to 2% due to better performance in our more efficient marketing channels.”

“Diluted earnings per share was $0.50 above the high end of our guidance range and up 52% from the prior year.”

“I'd also like to provide a brief update on the share repurchase and acquisition program.”

“Then, can you discuss what the guidance implies for 2026 for the net interest margin outlook?”

“When we have excess capital available, as we determined we did at the end of last year, we initiated a stock acquisition share repurchase program, if you will, of $100 million in November of last year.”