HAPN · Happen, Inc.
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AI Brief
Q2 FY26 earnings call · Jul 27, 2026TL;DR. Happen Bank reported record Q2 results with 29% loan origination growth, raised full-year EPS guidance to $1.80-$1.90, and lifted the low end of full-year originations guidance to $12.2-$12.6B, though higher rates pressured fair value marks and net interest margin is expected to drift toward 6%.
- + Loan originations grew 29% YoY to $3.1 billion, above the high end of guidance.
- + Record pre-tax income of $75.7 million, up 40% YoY, with pre-tax margin hitting a new high of 28.8%.
- + Continued credit outperformance drove a $10.9 million provision benefit and improved net charge-off ratio to 3.2% from 3.8%.
- + ROE of 15.1% and ROTCE of 15.9%, tracking to the high end of Investor Day full-year targets despite ~75 bps of rate pressure.
- + Marketplace loan sales grew 20% YoY with strong, durable investor demand and stable pricing adjusted for benchmarks.
- − Q2 GAAP results include $121 million in net fair value markdowns, up from $89 million in Q1, driven by higher benchmark rates.
- − Management expects net interest margin to drift down toward 6% in Q3/Q4 due to CECL-to-FVO transition and legacy purchase portfolio runoff.
- − Non-interest expense rose 28% YoY to $198 million, with marketing spend up 86% YoY.
- − Year-over-year non-interest income declined 11% due to the fair value accounting transition, even as origination fees rose 87%.
- − Diluted EPS guidance for Q3 of $0.43-$0.48 implies a sequential decline from Q2's $0.50, partly due to expected lower provision benefit and ongoing brand transition complexity.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders NeutralIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
Banks - Regional — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
HAPN
this stock
Happen, Inc.
|
$1.73B | -18.8% | -58.5% | 9.0 | 5.5% |
|
MFG
Mizuho Financial Group Inc
|
$133.98B | +48.8% | — | — | 0.1% |
|
HDB
Hdfc Bank Ltd
|
$118.26B | -38.9% | -3.2% | — | 0.7% |
|
CIXPF
CaixaBank/ADR
|
$103.83B | +26.7% | — | — | 0.1% |
|
IBN
Icici Bank Ltd
|
$100.21B | -7.9% | — | — | 0.6% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| HAPN | +2.3% | -12.5% | -1.4% | +4.1% | -18.8% |
| SPY | -0.2% | -0.5% | +12.2% | +0.9% | +12.9% |
| vs SPY | +2.6% | -12.1% | -13.5% | +3.1% | -31.7% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.