Happen, Inc. reported second-quarter 2026 results with revenue of $262.9M and diluted EPS of $0.5, driven by higher loan originations, increased sales volume and rising net interest income versus the year-ago quarter.
Financial Highlights
- Revenue: $262.9M in Q2 2026, up from $248.4M in the year-ago quarter (6.0% YoY).
- Net income: $58.1M in Q2 2026, versus $38.2M in the year-ago quarter (52% YoY).
- Diluted EPS: $0.50 in Q2 2026, up from $0.33 in the year-ago quarter (51.5% YoY).
Business Highlights
- Revenue growth was driven by higher loan originations, stronger sales volume and increased net interest income.
- Adopted fair value accounting for newly originated held-for-investment loans effective Jan. 1, 2026, aligning measurement of HFI and HFS loans and recognizing origination fees and marketing immediately.
- Loan originations rose 29% year over year to $3.145B in Q2, with expanded loan sales and gain-on-sale activity supporting marketplace investor demand.
- Rebranded to Happen, Inc. on June 22, 2026; deposits grew to $10.8B with roughly 88% FDIC-insured, reflecting scaling of the digital marketplace bank.
- Increased marketing and technology investment, and ongoing capital projects and software development to enhance digital capabilities.
Original SEC Filing:
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