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Happen Q3 revenue misses estimates; raises annual profit outlook

By Reuters News


Overview

  • US digital bank's Q3 total net revenue declined slightly and missed analyst expectations

  • Q3 diluted EPS rose 35% year-over-year

  • Loan originations grew 26% year-over-year, driven by product and marketing initiatives


Outlook

  • Happen Inc raises full-year 2026 diluted EPS guidance to $1.87-$1.92 from $1.80-$1.90

  • Company narrows full-year 2026 loan originations guidance to $12.3 bln-$12.4 bln

  • Happen Inc expects Q4 2026 loan originations of $3.1 bln-$3.2 bln


Result Drivers

  • ORIGINATIONS GROWTH - Co said 26% year-over-year increase in loan originations was driven by product and marketing initiatives

  • CREDIT PERFORMANCE AND ACCOUNTING CHANGE - Co said provision benefit was due to strong credit performance and adoption of fair value option accounting

  • AI AUTOMATION - Co said AI-powered tools improved loan origination efficiency and automation rate


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

$263.20 mln

$273.48 mln (8 Analysts)

Q3 EPS

$0.50

Q3 Net Income

$59.30 mln

Q3 Credit Loss Provision

$15.90 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the consumer lending peer group is "buy"

  • Wall Street's median 12-month price target for Happen, Inc. is $25.00, about 74.6% above its October 27 closing price of $14.32

  • The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 10 three months ago


Reuters Recommended Reads

  • Oct 27 - SoFi Technologies Q3 adjusted revenue beats on member, product growth

  • Oct 27 - SoFi's shares jump after fintech beats estimates, raises revenue forecast

  • Oct 27 - PayPal tops Q3 adjusted EPS estimates, raises FY forecast


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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