Connect with us

Technology

LENDINGTREE REPORTS THIRD QUARTER 2024 RESULTS

Published

4 weeks ago

on

Revenue Growth of 68% Powered by Strong Insurance Performance, Strengthening Consumer Segment

Consolidated revenue of $260.8 millionGAAP net loss of $(58.0) million or $(4.34) per diluted share, including $(58.4) million of non-cash impairment of equity investmentsVariable marketing margin of $77.2 millionAdjusted EBITDA of $26.9 millionAdjusted net income per share of $0.80

CHARLOTTE, N.C., Oct. 31, 2024 /PRNewswire/ — LendingTree, Inc. (NASDAQ: TREE), operator of LendingTree.com, the nation’s leading online financial services marketplace, today announced results for the quarter ended September 30, 2024.

The company has posted a letter to shareholders on the company’s website at investors.lendingtree.com.

“Our Insurance segment had another quarter of tremendous growth, as revenue increased 210% compared to the prior year period.  Improving results in personal loans and a 32% YoY increase in small business revenue drove 6% sequential growth in the Consumer segment revenue,” said Doug Lebda, Chairman and CEO.  “As we look forward to next year, we believe the company is positioned to improve performance across all three of our reportable segments.”

Scott Peyree, President and COO, commented, “Our Insurance business is generating record levels of revenue and VMD and should maintain momentum into 2025 as segment margin has stabilized.  We are optimistic forecasted easing of interest rates by the Fed, along with a stable economy, will benefit our Consumer and Home segments next year.”

Jason Bengel, CFO, added, “Our outlook for continued growth, coupled with ongoing expense discipline and targeted investment initiatives, lays the groundwork for improving financial results.  As our balance sheet continues to strengthen and leverage declines, we will evaluate optimizing our capital structure to lower interest expense.”

Third Quarter 2024 Business Results

Home segment revenue of $32.2 million decreased 4% over third quarter 2023 and produced segment profit of $9.3 million, down 18% over the same period.Within Home, revenue from Home Equity of $21.0 million increased 5% over prior year.Consumer segment revenue of $59.5 million declined 12% over third quarter 2023, and grew 6% sequentially.Within Consumer, personal loans revenue of $27.8 million increased 5% over prior year.Revenue from our small business offering increased 32% over prior year.Insurance segment revenue of $169.1 million increased 210% over third quarter 2023 and translated into record segment profit of $41.4 million, up 77% over the same period.

LendingTree Summary Financial Metrics

(In millions, except per share amounts)

Three Months Ended

September 30,

Y/Y

Three Months Ended
June 30,

Q/Q

2024

2023

% Change

2024

% Change

Total revenue

$     260.8

$    155.2

68 %

$                     210.1

24 %

(Loss) income before income taxes

$     (57.5)

$  (152.0)

62 %

$                         9.4

— %

Income tax (expense) benefit

$       (0.5)

$        3.5

(114) %

$                        (1.6)

69 %

Net (loss) income

$     (58.0)

$  (148.5)

61 %

$                         7.8

— %

Net (loss) income % of revenue

(22) %

(96) %

4 %

(Loss) income per share

Basic

$     (4.34)

$  (11.43)

$                       0.58

Diluted

$     (4.34)

$  (11.43)

$                       0.58

Variable marketing margin

Total revenue

$     260.8

$    155.2

68 %

$                     210.1

24 %

Variable marketing expense (1) (2)

$   (183.6)

$    (87.5)

110 %

$                   (139.2)

32 %

Variable marketing margin (2)

$       77.2

$      67.7

14 %

$                       70.9

9 %

Variable marketing margin % of revenue (2)

30 %

44 %

34 %

Adjusted EBITDA (2)

$       26.9

$      21.8

23 %

$                       23.5

14 %

Adjusted EBITDA % of revenue (2)

10 %

14 %

11 %

Adjusted net income (2)

$       10.9

$        7.9

38 %

$                         7.2

51 %

Adjusted net income per share (2)

$       0.80

$      0.61

31 %

$                       0.54

48 %

(1)

Represents the portion of selling and marketing expense attributable to variable costs paid for advertising, direct marketing and related expenses.  Excludes overhead, fixed costs and personnel-related expenses. 

(2)

Variable marketing expense, variable marketing margin, variable marketing margin % of revenue, adjusted EBITDA, adjusted EBITDA % of revenue, adjusted net income and adjusted net income per share are non-GAAP measures. Please see “LendingTree’s Reconciliation of Non-GAAP Measures to GAAP” and “LendingTree’s Principles of Financial Reporting” below for more information.

 

LendingTree Segment Results

(In millions)

Three Months Ended

September 30,

Y/Y

Three Months Ended
June 30,

Q/Q

2024

2023

% Change

2024

% Change

Home (1)

Revenue

$       32.2

$      33.4

(4) %

$                       32.2

— %

Segment profit

$         9.3

$      11.3

(18) %

$                         9.3

— %

Segment profit % of revenue

29 %

34 %

29 %

Consumer (2)

Revenue

$       59.5

$      67.3

(12) %

$                       55.9

6 %

Segment profit

$       28.0

$      34.4

(19) %

$                       26.9

4 %

Segment profit % of revenue

47 %

51 %

48 %

Insurance (3)

Revenue

$     169.1

$      54.5

210 %

$                     122.1

38 %

Segment profit

$       41.4

$      23.4

77 %

$                       36.4

14 %

Segment profit % of revenue

24 %

43 %

30 %

Other (4)

Revenue

$          —

$          —

— %

$                           —

— %

(Loss)

$          —

$         —

— %

$                        (0.1)

100 %

Total revenue

$     260.8

$    155.2

68 %

$                     210.1

24 %

Total segment profit

$       78.6

$      69.1

14 %

$                       72.5

8 %

     Brand marketing expense (5)

$       (1.4)

$       (1.4)

— %

$                        (1.6)

(13) %

Variable marketing margin

$       77.2

$      67.7

14 %

$                       70.9

9 %

Variable marketing margin % of revenue

30 %

44 %

34 %

(1)

The Home segment includes the following products: purchase mortgage, refinance mortgage, and home equity loans.

(2)

The Consumer segment includes the following products: credit cards, personal loans, small business loans, student loans, auto loans,

deposit accounts, and debt settlement.

(3)

The Insurance segment consists of insurance quote products and sales of insurance policies.

(4)

The Other category primarily includes marketing revenue and related expenses not allocated to a specific segment.

(5)

Brand marketing expense represents the portion of selling and marketing expense attributable to variable costs paid for advertising, direct marketing and related expenses that are not assignable to the segments’ products. This measure excludes overhead, fixed costs and personnel-related expenses.

Financial Outlook*

Today we are updating our outlook for full-year 2024, which implies the following fourth quarter outlook:

Full-year 2024:

Revenue of $870 – $880 million versus the prior range of $830 – $870 millionVariable Marketing Margin of $287 – $292 million, compared to $280 – $300 million previouslyAdjusted EBITDA of $92 – $95 million versus $85 – $95 million previously

Fourth-quarter 2024:

Revenue: $231 – $241 millionVariable Marketing Margin: $69 – $74 millionAdjusted EBITDA: $20 – $23 million

*LendingTree is not able to provide a reconciliation of projected variable marketing margin or adjusted EBITDA to the most directly comparable expected GAAP results due to the unknown effect, timing and potential significance of the effects of legal matters and tax considerations. Expenses associated with legal matters and tax considerations have in the past, and may in the future, significantly affect GAAP results in a particular period.   

Quarterly Conference Call

A conference call to discuss LendingTree’s third quarter 2024 financial results will be webcast live today, October 31, 2024 at 4:30 PM Eastern Time (ET). The live webcast is open to the public and will be available on LendingTree’s investor relations website at investors.lendingtree.com. Following completion of the call, a recorded replay of the webcast will be available on the website.

LENDINGTREE’S RECONCILIATION OF NON-GAAP MEASURES TO GAAP

Variable Marketing Expense

Below is a reconciliation of selling and marketing expense, the most directly comparable GAAP measure, to variable marketing expense. See “LendingTree’s Principles of Financial Reporting” for further discussion of the Company’s use of this non-GAAP measure.

Three Months Ended

September 30,
2024

June 30,
2024

September 30,
2023

(in thousands)

Selling and marketing expense

$      193,542

$      148,387

$        97,244

Non-variable selling and marketing expense (1)

(9,976)

(9,140)

(9,805)

Variable marketing expense

$      183,566

$      139,247

$        87,439

(1)

Represents the portion of selling and marketing expense not attributable to variable costs paid for advertising, direct marketing and related expenses. Includes overhead, fixed costs and personnel-related expenses.

LENDINGTREE’S RECONCILIATION OF NON-GAAP MEASURES TO GAAP

Variable Marketing Margin

Below is a reconciliation of net (loss) income, the most directly comparable table GAAP measure, to variable marketing margin and net (loss) income % of revenue to variable marketing margin % of revenue. See “LendingTree’s Principles of Financial Reporting” for further discussion of the Company’s use of these non-GAAP measures.

Three Months Ended

September 30,
2024

June 30,
2024

September 30,
2023

(in thousands, except percentages)

Net (loss) income

$     (57,978)

$          7,752

$  (148,465)

Net (loss) income % of revenue

(22) %

4 %

(96) %

Adjustments to reconcile to variable marketing margin:

Cost of revenue

9,372

8,411

7,570

Non-variable selling and marketing expense (1)

9,976

9,140

9,805

General and administrative expense

26,680

27,118

26,380

Product development

11,190

10,374

10,840

Depreciation

4,584

4,601

4,760

Amortization of intangibles

1,466

1,467

1,981

Goodwill impairment

—

—

38,600

Restructuring and severance

273

202

1,955

Litigation settlements and contingencies

3,762

(7)

(150)

Interest expense (income), net

10,060

1,201

7,097

Other expense (income)

57,391

(1,052)

110,910

Income tax expense (benefit)

447

1,686

(3,534)

Variable marketing margin

$        77,223

$        70,893

$        67,749

Variable marketing margin % of revenue

30 %

34 %

44 %

(1)

Represents the portion of selling and marketing expense not attributable to variable costs paid for advertising, direct marketing and related expenses. Includes overhead, fixed costs and personnel-related expenses.

LENDINGTREE’S RECONCILIATION OF NON-GAAP MEASURES TO GAAP

Adjusted EBITDA

Below is a reconciliation of net (loss) income, the most directly comparable table GAAP measure, to adjusted EBITDA and net (loss) income % of revenue to adjusted EBITDA % of revenue. See “LendingTree’s Principles of Financial Reporting” for further discussion of the Company’s use of these non-GAAP measures.

Three Months Ended

September 30,
2024

June 30,
2024

September 30,
2023

(in thousands, except percentages)

Net (loss) income

$     (57,978)

$          7,752

$  (148,465)

Net (loss) income % of revenue

(22) %

4 %

(96) %

Adjustments to reconcile to adjusted EBITDA:

Amortization of intangibles

1,466

1,467

1,981

Depreciation

4,584

4,601

4,760

Restructuring and severance

273

202

1,955

Loss on impairments and disposal of assets

6

413

88

Loss on impairment of equity investments

58,376

—

113,064

Goodwill impairment

—

—

38,600

Non-cash compensation

6,859

7,437

8,592

Litigation settlements and contingencies

3,762

(7)

(150)

Interest expense (income), net

10,060

1,201

7,097

Dividend income

(982)

(1,225)

(2,154)

Income tax expense (benefit)

447

1,686

(3,534)

Adjusted EBITDA

$        26,873

$        23,527

$        21,834

Adjusted EBITDA % of revenue

10 %

11 %

14 %

LENDINGTREE’S RECONCILIATION OF NON-GAAP MEASURES TO GAAP

Adjusted Net Income

Below is a reconciliation of net (loss) income, the most directly comparable table GAAP measure, to adjusted net income and net (loss) income per diluted share to adjusted net income per share. See “LendingTree’s Principles of Financial Reporting” for further discussion of the Company’s use of these non-GAAP measures.

Three Months Ended

September 30,
2024

June 30,
2024

September 30,
2023

(in thousands, except per share amounts)

Net (loss) income

$     (57,978)

$          7,752

$  (148,465)

Adjustments to reconcile to adjusted net income:

Restructuring and severance

273

202

1,955

Goodwill impairment

—

—

38,600

Loss on impairments and disposal of assets

6

413

88

Loss on impairment of equity investments

58,376

—

113,064

Non-cash compensation

6,859

7,437

8,592

Litigation settlements and contingencies

3,762

(7)

(150)

Gain on extinguishment of debt

(416)

(8,619)

—

Income tax expense (benefit) from adjusted items

—

—

(5,764)

Adjusted net income

$        10,882

$          7,178

$          7,920

Net (loss) income per diluted share

$         (4.34)

$            0.58

$       (11.43)

Adjustments to reconcile net (loss) income to adjusted net income

5.16

(0.04)

12.04

Adjustments to reconcile effect of dilutive securities

(0.02)

—

—

Adjusted net income per share

$            0.80

$            0.54

$            0.61

Adjusted weighted average diluted shares outstanding

13,555

13,407

12,999

Effect of dilutive securities

206

—

6

Weighted average diluted shares outstanding

13,349

13,407

12,993

Effect of dilutive securities

—

150

—

Weighted average basic shares outstanding

13,349

13,257

12,993

LENDINGTREE’S PRINCIPLES OF FINANCIAL REPORTING

LendingTree reports the following non-GAAP measures as supplemental to GAAP:

Variable marketing expenseVariable marketing marginVariable marketing margin % of revenueEarnings Before Interest, Taxes, Depreciation and Amortization, as adjusted for certain items discussed below (“Adjusted EBITDA”)Adjusted EBITDA % of revenueAdjusted net incomeAdjusted net income per share

Variable marketing expense, variable marketing margin and variable marketing margin % of revenue are related measures of the effectiveness of the Company’s marketing efforts. Variable marketing margin is a measure of the efficiency of the Company’s operating model, measuring revenue after subtracting variable marketing expense. Variable marketing expense represents the portion of selling and marketing expense attributable to variable costs paid for advertising, direct marketing, and related expenses, and excludes overhead, fixed costs, and personnel related expenses.  The Company’s operating model is highly sensitive to the amount and efficiency of variable marketing expenditures, and the Company’s proprietary systems are able to make rapidly changing decisions concerning the deployment of variable marketing expenditures (primarily but not exclusively online and mobile advertising placement) based on proprietary and sophisticated analytics.

Adjusted EBITDA and adjusted EBITDA % of revenue are primary metrics by which LendingTree evaluates the operating performance of its businesses, on which its marketing expenditures and internal budgets are based and, in the case of adjusted EBITDA, by which management and many employees are compensated in most years.

Adjusted net income and adjusted net income per share supplement GAAP net income and GAAP net income per diluted share by enabling investors to make period to period comparisons of those components of the most directly comparable GAAP measures that management believes better reflect the underlying financial performance of the Company’s business operations during particular financial reporting periods. Adjusted net income and adjusted net income per share exclude certain amounts, such as non-cash compensation, non-cash asset impairment charges, gain/loss on disposal of assets, gain/loss on investments, restructuring and severance, litigation settlements and contingencies, acquisition and disposition income or expenses including with respect to changes in fair value of contingent consideration, gain/loss on extinguishment of debt, contributions to the LendingTree Foundation, one-time items which are recognized and recorded under GAAP in particular periods but which might be viewed as not necessarily coinciding with the underlying business operations for the periods in which they are so recognized and recorded, the effects to income taxes of the aforementioned adjustments, any excess tax benefit or expense associated with stock-based compensation recorded in net income in conjunction with FASB pronouncement ASU 2016-09, and income tax (benefit) expense from a full valuation allowance. LendingTree believes that adjusted net income and adjusted net income per share are useful financial indicators that provide a different view of the financial performance of the Company than adjusted EBITDA (the primary metric by which LendingTree evaluates the operating performance of its businesses) and the GAAP measures of net income and GAAP net income per diluted share.

These non-GAAP measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to GAAP results. LendingTree provides and encourages investors to examine the reconciling adjustments between the GAAP and non-GAAP measures set forth above.

Definition of LendingTree’s Non-GAAP Measures

Variable marketing margin is defined as revenue less variable marketing expense. Variable marketing expense is defined as the expense attributable to variable costs paid for advertising, direct marketing and related expenses, and excluding overhead, fixed costs and personnel-related expenses. The majority of these variable advertising costs are expressly intended to drive traffic to our websites and these variable advertising costs are included in selling and marketing expense on the Company’s consolidated statements of operations and consolidated income.

EBITDA is defined as net income from continuing operations excluding interest, income taxes, amortization of intangibles and depreciation.

Adjusted EBITDA is defined as EBITDA excluding (1) non-cash compensation expense, (2) non-cash impairment charges, (3) gain/loss on disposal of assets, (4) gain/loss on investments, (5) restructuring and severance expenses, (6) litigation settlements and contingencies, (7) acquisitions and dispositions income or expense (including with respect to changes in fair value of contingent consideration), (8) contributions to the LendingTree Foundation (9) dividend income, and (10) one-time items.

Adjusted net income is defined as net income (loss) excluding (1) non-cash compensation expense, (2) non-cash impairment charges, (3) gain/loss on disposal of assets, (4) gain/loss on investments, (5) restructuring and severance expenses, (6) litigation settlements and contingencies, (7) acquisitions and dispositions income or expense (including with respect to changes in fair value of contingent consideration), (8) gain/loss on extinguishment of debt, (9) contributions to the LendingTree Foundation, (10) one-time items, (11) the effects to income taxes of the aforementioned adjustments, (12) any excess tax benefit or expense associated with stock-based compensation recorded in net income in conjunction with FASB pronouncement ASU 2016-09, and (13) income tax (benefit) expense from a full valuation allowance.

Adjusted net income per share is defined as adjusted net income divided by the adjusted weighted average diluted shares outstanding. For periods which the Company reports GAAP loss from continuing operations, the effects of potentially dilutive securities are excluded from the calculation of net loss per diluted share from continuing operations because their inclusion would have been anti-dilutive. In periods where the Company reports GAAP loss from continuing operations but reports positive non-GAAP adjusted net income, the effects of potentially dilutive securities are included in the denominator for calculating adjusted net income per share if their inclusion would be dilutive.

LendingTree endeavors to compensate for the limitations of these non-GAAP measures by also providing the comparable GAAP measures with equal or greater prominence and descriptions of the reconciling items, including quantifying such items, to derive the non-GAAP measures. These non-GAAP measures may not be comparable to similarly titled measures used by other companies.

One-Time Items

Adjusted EBITDA and adjusted net income are adjusted for one-time items, if applicable. Items are considered one-time in nature if they are non-recurring, infrequent or unusual, and have not occurred in the past two years or are not expected to recur in the next two years, in accordance with SEC rules. For the periods presented in this report, there are no adjustments for one-time items.

Non-Cash Expenses That Are Excluded From LendingTree’s Adjusted EBITDA and Adjusted Net Income

Non-cash compensation expense consists principally of expense associated with the grants of restricted stock, restricted stock units and stock options. These expenses are not paid in cash and LendingTree includes the related shares in its calculations of fully diluted shares outstanding. Upon settlement of restricted stock units, exercise of certain stock options or vesting of restricted stock awards, the awards may be settled on a net basis, with LendingTree remitting the required tax withholding amounts from its current funds. Cash expenditures for employer payroll taxes on non-cash compensation are included within adjusted EBITDA and adjusted net income.

Amortization of intangibles are non-cash expenses relating primarily to acquisitions. At the time of an acquisition, the intangible assets of the acquired company, such as purchase agreements, technology and customer relationships, are valued and amortized over their estimated lives.  Amortization of intangibles are only excluded from adjusted EBITDA.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

The matters contained in the discussion above may be considered to be “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations or anticipations of LendingTree and members of our management team. Factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include the following: adverse conditions in the primary and secondary mortgage markets and in the economy, particularly interest rates and inflation; default rates on loans, particularly unsecured loans; demand by investors for unsecured personal loans; the effect of such demand on interest rates for personal loans and consumer demand for personal loans; seasonality of results; potential liabilities to secondary market purchasers; changes in the Company’s relationships with network partners, including dependence on certain key network partners; breaches of network security or the misappropriation or misuse of personal consumer information; failure to provide competitive service; failure to maintain brand recognition; ability to attract and retain consumers in a cost-effective manner; the effects of potential acquisitions of other businesses, including the ability to integrate them successfully with LendingTree’s existing operations; accounting rules related to excess tax benefits or expenses on stock-based compensation that could materially affect earnings in future periods; ability to develop new products and services and enhance existing ones; competition; effects of changing laws, rules or regulations on our business model; allegations of failure to comply with existing or changing laws, rules or regulations, or to obtain and maintain required licenses; failure of network partners or other affiliated parties to comply with regulatory requirements; failure to maintain the integrity of systems and infrastructure; liabilities as a result of privacy regulations; failure to adequately protect intellectual property rights or allegations of infringement of intellectual property rights; and changes in management. These and additional factors to be considered are set forth under “Risk Factors” in our Annual Report on Form 10-K for the period ended December 31, 2023, in our Quarterly Report on Form 10-Q for the period ended June 30, 2024, and in our other filings with the Securities and Exchange Commission. LendingTree undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results or expectations.

About LendingTree, Inc.

LendingTree, Inc. is the parent of LendingTree, LLC and several companies owned by LendingTree, LLC (collectively, “LendingTree” or the “Company”).

LendingTree is one of the nation’s largest, most experienced online financial platforms, created to give consumers the power to win financially.  LendingTree provides customers with access to the best offers on loans, credit cards, insurance and more through its network of approximately 400 financial partners.  Since its founding, LendingTree has helped millions of customers obtain financing, save money, and improve their financial and credit health in their personal journeys. With a portfolio of innovative products and tools and personalized financial recommendations, LendingTree helps customers achieve everyday financial wins.

LendingTree, Inc. is headquartered in Charlotte, NC. For more information, please visit www.lendingtree.com. 

Investor Relations Contact:
investors@lendingtree.com 

Media Contact:
press@lendingtree.com 

View original content to download multimedia:https://www.prnewswire.com/news-releases/lendingtree-reports-third-quarter-2024-results-302293289.html

SOURCE LendingTree, Inc.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

AI-prop Delivers Japan-Quality AI Photo Enhancement in seconds for U.S. Real Estate Professionals

Published

11 minutes ago

on

November 25, 2024

By

SINGAPORE and TOKYO, Nov. 25, 2024 /PRNewswire/ — AI-prop, an innovative AI photo editing platform from Japan, is transforming U.S. real estate marketing by combining advanced AI technology with Japan’s famed precision and reliability. The platform empowers agents, brokers, and agencies to produce stunning visuals in seconds. With pricing starting at $1.20 per image or as low as $0.20 per image with a subscription, AI-prop ensures high-quality photo editing is both accessible and affordable. A free trial is also available for new users.

AI-prop’s core service includes AI-powered photo enhancements that optimize white balance, brightness, contrast, blue sky replacement, blurring of personal information, and composition. This automation delivers market-ready images instantly, helping real estate professionals save time while achieving professional results. Additionally, the platform offers an intuitive editor tool, allowing users to customize images to match their branding and style.

For more refined edits, AI-prop provides professional retouching services, combining the efficiency of AI with the craftsmanship of skilled editors. This feature caters to diverse needs, from enhancing interior shots to digitally staging properties, ensuring every photo is of magazine-quality standard.

“AI-prop is committed to delivering Japan-quality precision and innovation at a reasonable price to the U.S. real estate industry,” said Motohide Hashimoto, CEO of A-LEADS Group. “Our platform gives professionals the tools to create impactful listings quickly, helping them stand out in a competitive market.”

With its focus on affordability, efficiency, and versatility, AI-prop is reshaping property marketing. By providing solutions that captivate buyers and drive sales, the platform helps professionals make a lasting impression in an industry where first impressions are crucial.

For more information and to start your free trial, visit www.ai-prop.com or contact below AI-prop customer support cs@ai-prop.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/ai-prop-delivers-japan-quality-ai-photo-enhancement-in-seconds-for-us-real-estate-professionals-302315216.html

SOURCE A-LEADS HOLDINGS PTE. LTD.

Continue Reading

Technology

Quicken Introduces Quicken LifeHub, a Smarter Way to Organize, Protect, and Share Life’s Essential Information

Published

11 minutes ago

on

November 25, 2024

By

An intelligent tool that guides you in organizing life’s important information so you and your loved ones are prepared for the big moments, the everyday moments, and everything in between 

MENLO PARK, Calif., Nov. 25, 2024 /PRNewswire/ — Quicken today unveiled Quicken LifeHub, an app designed to help you and your loved ones organize, protect, and share life’s essential information. From day-to-day household management to preparing for emergencies and end-of-life transitions, Quicken LifeHub gives you and your loved ones peace of mind by bringing together financial accounts, medical records, wills and trusts, passwords, and more. Designed by the maker of America’s best-selling personal finance software, Quicken LifeHub provides a simple and secure way for you and your loved ones to organize life’s most important information.

Many people don’t proactively prepare for life’s biggest challenges until it’s too late. In fact, only 30% of Americans have taken steps to safeguard their documents and information in preparation of an emergency or disaster, forcing them to react quickly – often making decisions without access to crucial information or directions from their loved ones. Quicken LifeHub helps you prepare for anything that might come your way – from natural disasters like tornadoes, hurricanes, and floods, to personal and family medical emergencies, to end-of-life preparedness.

“For over 40 years, our customers have trusted us as their partner in managing their finances – an aspect of their lives that is deeply personal and complex,” said Eric Dunn, CEO of Quicken. “Our customers inspired us to create Quicken LifeHub, a natural extension of Quicken that brings their financials together with medical records, estate plans, and more. Our goal is to give people confidence and peace of mind so that they’re prepared for all of life’s events – planned and unplanned.”

With Quicken LifeHub, you and your loved ones have access to a comprehensive and secure platform that can help you navigate a variety of events, such as:

Everyday Events: It can be a daunting task to keep track of essential documents and information. With Quicken LifeHub, you can save birth certificates, social security and ID cards, insurance information, passwords, and more in one place. In addition, you can sync your Quicken Simplifi or Quicken Classic account to automatically keep financial information up to date, including accounts, bills, and tax forms, ensuring you have a comprehensive snapshot of all financial information.

Medical Emergencies: When unexpected medical emergencies arise, it can be difficult to locate necessary information quickly, such as medication details or health records. Quicken LifeHub can store medical information ranging from prescriptions to insurance, and share this information with your loved ones in the event of a medical crisis.

Natural Disasters and Catastrophes: A hurricane, tornado, house fire, or other unexpected event is not only destructive on a large scale but can also lead to the loss of physical documents stored in a desk or file cabinet. Quicken LifeHub ensures your important documents are backed up digitally, and you can also store important information about material assets, such as real estate, vehicles, electronics, and artwork to ensure you’re always prepared for potential insurance claims.

End of Life Preparation: Following the death of a partner, parent, or loved one, family members are faced with navigating a vast amount of logistics and legalese, in addition to grief. With Quicken LifeHub, you can add instructions about funeral and burial plans, save details for obituaries, and store estate planning documents – including wills, trusts, powers of attorney, and more – to help make things easier for family members and executors.

With Quicken LifeHub, the household manager has control over what documents and details are shared with other account members. For example, a parent may share important medical and financial details with their children in the event of an emergency, but restrict access to other details. Another essential feature of Quicken LifeHub is the ability to designate information for “after I’m gone.” This ensures critical information is organized and accessible, so loved ones or trusted contacts can quickly step in, know exactly what needs to be done, and have the necessary details to manage important tasks and decisions.

“After my wife’s sister passed away, her son was left with the overwhelming task of managing her estate without any guidance,” said customer Mike Whittaker. “It dawned on us that if something happened to both of us, our sons would have no idea where to start with our finances, contacts, or estate planning information. But then I found Quicken LifeHub, which has allowed us to store all our estate details and assets in one place. This is a really good product, and I highly recommend it. There is a real need for this.”

With an easy-to-use interface, Quicken LifeHub is designed for life’s big moments, everyday moments, and everything in between. The app goes far beyond document storage, guiding you with step-by-step instructions through everything you need to plan for a wide range of scenarios from a lost wallet, to a new job, to evacuation orders. This experience is complemented by Quicken Assist, an AI-powered assistant that provides immediate and highly tailored responses to challenging questions about estate, emergency, or end-of-life planning.

Because privacy and security of personal data are of the utmost importance, Quicken LifeHub incorporates a number of bank-grade security safeguards, including robust 256-bit encryption and multi-factor authentication.

To learn more about Quicken LifeHub, including pricing, visit https://www.quicken.com/products/lifehub/.

About Quicken

Quicken is the best-selling personal finance software in the U.S. and was recently named to CNBC’s World’s Top Fintech Companies List for 2024. For over 40 years, more than 20 million customers have relied on Quicken to help them take control of their finances and lead healthier financial lives. Quicken’s award-winning suite of personal finance software and apps includes Quicken Simplifi (recognized by PCMag as the Editors’ Choice winner for personal finance apps), Quicken Classic Business & Personal, Quicken Classic Premier, and Quicken Classic Deluxe.

Learn more about Quicken here and follow us on Facebook, Instagram, and LinkedIn. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/quicken-introduces-quicken-lifehub-a-smarter-way-to-organize-protect-and-share-lifes-essential-information-302314889.html

SOURCE Quicken

Continue Reading

Technology

At AAEP 2024, Agfa showcases SmartRotate™ for Equine, powered by artificial intelligence

Published

11 minutes ago

on

November 25, 2024

By

Specialized for veterinary care, SmartRotate™ for Equine automatically presents each image in the correct orientation, enhancing workflow efficiency

MORTSEL, Belgium, Nov. 25, 2024 /PRNewswire/ —

Visitors to AAEP 2024 can discover SmartRotate™ for Equine for the first time.AI-powered SmartRotate™ for Equine automatically delivers correct and consistent orientation of images.It transforms the equine imaging process with greater efficiency, accuracy and ease, ultimately enhancing care for equine patients.

At the 70th annual convention of the American Association of Equine Practitioners (AAEP), from 7-11 December 2024 in Orlando, Agfa will demonstrate how it has put over 100 years of experience in diagnostic imaging to work for equine vets. The result: dedicated solutions addressing the specific needs of equine care including SmartRotate™ for Equine.

Agfa will reveal this artificial intelligence-powered solution for the first time at the booth of Agfa’s dealer, Universal Imaging.

Smart solutions dedicated to equine vets

“With SmartRotate™, we don’t need an experienced technician to orient the detector. We can capture the image without worrying: ‘Do I need to flip the detector the other way for this leg or this view?’ This enables me to stay focused on the exam, rather than the detector position.

The time savings are significant, and I can be more hands-off with radiography, as the technicians can handle it all. Plus, we no longer need a dedicated person at the computer just to rotate the image. Finally, it is a huge help when working with horses, which rarely cooperate by holding still during imaging! Depending on the joint we are working on, we may have to turn the detector’s angle or position. With SmartRotate™ we automatically get the image in the right orientation,” explains David R. Celella, DVM, Owner of Rockwall Equine Center in Terrell, Texas.

“Agfa Radiology Solutions has a rich legacy of supporting human healthcare enterprises in the transition from analog to digital. Bringing that expertise to veterinary practices, we offer high-quality, dedicated solutions designed for the unique needs of equine care. Our proven range of solutions delivers excellence in equine imaging, backed by reliable support and service from our worldwide organization,” says Jeroen Spruyt, President of Agfa Radiology Solutions.

Discover the benefits of SmartRotate™ for Equine

As a typical equine X-ray examination can include up to 20 images, consistent positioning is critical but time-consuming. Using the power of AI, SmartRotate™ for Equine streamlines this process by automatically orienting each X-ray image correctly. The benefits are clear: faster workflow, enhanced consistency, reduced stress for the horse, and better mobile imaging.

Visit the Universal Imaging booth #561 at AAEP 2024 to learn how SmartRotate™ for Equine can enhance veterinary imaging process with greater efficiency, accuracy and ease.

View original content to download multimedia:https://www.prnewswire.com/news-releases/at-aaep-2024-agfa-showcases-smartrotate-for-equine-powered-by-artificial-intelligence-302314535.html

SOURCE AGFA US Corp.

Continue Reading

Trending