Revenue during the quarter dropped 3.69 percent to $130.52 million from $135.52 million in the previous year period. Operating margin for the quarter stood at negative 24.89 percent as compared to a positive 3.80 percent for the previous year period.

Operating loss for the quarter was $32.49 million, compared with an operating income of $5.15 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at negative $2.20 million compared with $24.56 million in the prior year period. At the same time, adjusted EBITDA margin stood at negative 1.69 percent for the quarter compared to 18.12 percent in the last year period.

"Last quarter we accomplished the foundational work required to prepare Lending Club for the growth to come," said chief executive officer Scott Sanborn. "With a diverse, stable and scalable mix of investors, and an enhanced control environment, we are entering 2017 in a stronger position than ever to serve the needs of our customers."

For fiscal year 2017, Lendingclub Corp projects revenue to be in the range of $565 million to $595 million and  expects net loss to be in the range of $84 million to $69 million.

For the first-quarter, Lendingclub Corp projects revenue to be in the range of $117 million to $122 million and expects net loss to be in the range of $43 million to $38 million.