Last year was transformative for LendingClub. The company grew its revenue to $1.2 billion (compared to $0.6 billion in 2021) and reported a Net Income of $289.7 million (compared to $18.6 million in 2021). The loan portfolio reached $5.6 billion and deposits reached $6.4 billion by the end of the year. However, LendingClub has not yet reached the scale, which allows it to profitably go through an economic cycle. Interest income is not sufficient to cover operating expenses and provisions, and the company still relies on loan origination fees to maintain profitability.