LexinFintech Holdings Ltd., together with its subsidiaries, offers online direct sales and online consumer finance services in the People’s Republic of China. ...
LexinFintech Holdings Ltd. (NASDAQ: LX), headquartered in Shenzhen, China, is a credit technology-empowered personal financial service enabler. The company’s mission emphasizes using technology and risk management expertise to serve consumers and to enable financial institutions and partners. Founded in 2013, Lexin operates primarily in the People’s Republic of China and ...LexinFintech Holdings Ltd. (NASDAQ: LX), headquartered in Shenzhen, China, is a credit technology-empowered personal financial service enabler. The company’s mission emphasizes using technology and risk management expertise to serve consumers and to enable financial institutions and partners. Founded in 2013, Lexin operates primarily in the People’s Republic of China and is also described as formerly known as Staging Finance Holding Ltd. (with a name change in 2017).
From a business model perspective, Lexin combines (1) consumer-facing financial products with (2) technology and credit-platform capabilities for partner institutions. On the consumer side, it offers installment-based products and lending products. These include installment purchase and personal installment loans delivered through its online consumer finance platform (Fenqile), scenario-based lending via Lehua Card, and a buy-now-pay-later service (Maiya). In addition, Lexin provides online direct sales of electronic, home appliance, and general merchandise products with installment payment terms, which effectively links retail commerce to financing.
On the platform and partner-services side, Lexin provides technology-driven services to financial institution customers and partners. It also offers credit-driven platform services such as customer acquisition, initial credit screening, and loan collections, alongside guarantee and insurance services. This structure indicates a focus not only on originating and servicing consumer credit, but also on the infrastructure and data/risk capabilities that support lending workflows at scale.
In terms of costs and operations, Lexin’s operating metrics and profitability positioning (as reflected in the provided financial snapshot) suggest a business that manages credit risk and operating efficiency while operating in a competitive consumer-credit and fintech environment. The company employs technology and analytics for underwriting and collections, and it supports both direct-to-consumer financing and B2B enablement services, which can diversify revenue streams.
Key people include Wen Jie Xiao (also referenced as Jay Wenjie Xiao), the founder/chairman/chief executive officer. Overall, Lexin’s “wishes” or strategic direction implied by its mission is to strengthen technology-led credit risk management, improve customer outcomes, and expand the breadth of consumer finance offerings and partner platform capabilities through ongoing platform development and risk controls.
EPS estimate unavailable · Fiscal period ending 2026-06-30
D+4
5Y Trend (Revenue, Earnings, FCF)
Metric
Latest
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$12.8B
-9.9%
-3.6%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$1.6B
+48.2%
-49.5%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+72.3%
+104.2%
-3.8%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+17.7%
+10.0%
-41.5%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+12.8%
+64.6%
-47.7%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$3.3B
+290.9%
—
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+25.5%
+334.0%
—
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
40.1%
-18.2%
-8.1%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
4.10x
+120.1%
+11.4%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good day, and thank you for standing by. Welcome to Lexin First Quarter 2026 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I'd now like to hand the conference over to your first speaker today, Will Tan, IR Director of the company. Please go ahead.
Will Tan: Thank you, operator. Hello, everyone. Welcome to our first quarter 2026 earnings conference call. Our results were released earlier today and concurrently available on our IR website. Today, you will hear from our Chairman and CEO, Mr. Jay Wenjie Xiao, who will provide an update on our overall performance and the strategies of our business. Our CFO, Mr. Arvin Zhanwen Qiao, will then provide more details on our risk management initiatives and updates. Lastly, our CFO, Mr. James Zheng, will discuss our financial performance. Before we continue, I would like to refer you to our safe harbor statement in our earnings press release, which also applies to this call as we will be making forward-looking statements. Last, please note that all figures are presented in renminbi terms and all comparisons are made on a quarter-over-quarter basis unless otherwise stated. Please kindly note Jay and Arvin will give their whole remarks in Chinese first, then the English version will be delivered by Jay's and Arvin's AI-based voices. With that, I'm now pleased to turn over the call to Mr. Jay Wenjie Xiao, Chairman and the CEO of Lexin. Please sir.
Jay Xiao: [Interpreted] Hi, everyone. Thanks for joining us today for our first quarter 2026 earnings call. In the first quarter, against the backdrop of macroeconomic and industry challenges, our unique and diversified business ecosystem, which we have been building for many years, demonstrated strong operational resilience. During the quarter, the loan volume of our installment e-commerce, off-line inclusive finance and fintech empowerment businesses accounted for nearly 50% of the total. Ecosystem businesses grew faster than the online loan facilitation business, becoming the company's new growth drivers. This indicates the transition from old to new growth drivers, the initial success of our long-term oriented strategy of diversified development and the company's steady progress toward healthy and sustainable development. During the quarter, the company achieved a loan volume of RMB 57.9 billion, representing a quarter-over-quarter increase of 15.9% and a year-over-year increase of 12.2%. Revenue reached RMB 3.3 billion. Number of active users stood at 5.17 million, a quarter-over-quarter rise of 14.1% and 8.6% year-over-year. Number of new active users was 1.44 million, up 63.3% quarter-over-quarter and 101.6% year-over-year. Net profit reached RMB 201 million, besides a number of key risk indicators continue to show improvement, maintaining a stable trend. Next, I will walk you through the key initiatives we have undertaken since the first quarter. First, our diversified ecosystem …
