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Happen, Inc. (HAPN) stock

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NASDAQ: HAPN Nasdaq Consumer Finance Next results ~January 27, 2027

C Fundamentals grade

Happen, Inc. is a US-listed company in the consumer finance industry. Its financial year ends in December.

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 6 selling0 purchases and 30 sales by directors and officers, last 12 monthsInsider trades
  • Funds128 adding, 113 cuttingOf 49 active managers that changed their stake, 28 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Happen files

10-Q filed October 29: Happen

Happen, Inc. generated revenue of $1.04bn in the twelve months to September 2026, a rise of 10.0% on the same period a year earlier. That pace marks a clear slowdown from the 18.4% growth recorded just a quarter earlier. The deceleration suggests that whatever drove the stronger prior-quarter figure has eased, though the latest twelve-month window still shows the company expanding rather than contracting. Growth of 10.0% remains respectable in absolute terms, even if the trend line is now pointing downward rather than up. Whether this is the start of a steadier, more mature growth phase or merely a temporary dip is not yet clear from the figures alone. For now, the headline number is positive, but the trajectory deserves attention in the quarters ahead.

Our model value for Happen is under review, so past values are not shown until it is resolved.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Happen stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.05bn, up 18.4% on a year earlier, slower than the 25.4% growth a quarter earlier. The diluted share count is up 2.0% on a year earlier, which dilutes existing holders.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 27, 2027 (estimated)

Happen, Inc.'s trailing-twelve-month revenue grew 10.0% year on year, with a free-cash-flow margin of -275.2%. Where it stands out: net margin of 20.2% ranks 6 of 39 consumer finance companies we cover. Where it lags: change in growth rate of -8.3pp ranks 33 of 38 consumer finance companies we cover.

Current signal Net income rising while operating cash flow falls: TTM net income grew 102.8% while operating cash flow fell 38.8% — earnings and cash are telling different stories.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Net cash. Cash exceeds long-term debt by $0.8bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Growth slowing. The growth rate is 8.3 points lower than a quarter earlier.
  • Burning cash. Free cash flow was -275.2% of revenue over the last 12 months.
  • Volatile shares. Over the past year the shares showed annualised volatility of 52% and a beta of 2.2 against the S&P 500.
  • Weak cash conversion. Free cash flow was -1365% of net income over the last 12 months.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 2.8% ranks 30 of 36 consumer finance companies we cover (median 1.3%).
  • Short interest rising. Shares sold short rose 21% in a month to 7.7% of tradable shares.

Latest results: FY2026 Q3

Filed October 29, 2026
Earnings per share
$0.50 against an average estimate of $0.45: beat by 10.3%
Revenue
$263m, down 1.2% on a year earlier
Share reaction
+12.0% in the first session after the results on October 28, 2026, against 0.0% for the S&P 500
Guidance given
loan originations $3.1bn to $3.2bn (Fourth Quarter 2026); diluted EPS $0.43 to $0.48 (Fourth Quarter 2026)
Next report
October 28, 2026; average EPS estimate $0.46

Happen's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.3%
  • 1 week+13.1%
  • 1 month+1.2%
  • This year-17.8%
  • 1 year-10.5%
  • 5 years-66.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1B
Net margin
20.2%
EPS (TTM, diluted)
$1.79

Growth

Revenue growth
+10.0%
Change in growth rate
−8.3 pts
Share count change
+1.0%

Earnings

Last results
October 28, 2026
Next results (est.)
January 27, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance
  3. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Happen, Inc. valuation models and calculator

No model value for Happen, Inc. at the moment. Current status: valuation models disagree too widely to rate. Available reported financials are shown below.

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valuation models disagree too widely to rate: held for review.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Happen, Inc. as a bank or lender, with every model that fits that kind of business. Cost of equity 9.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.09 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$11 ~$7.6–$15 Primary model, counts double
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$8.9 ~$7.8–$10 Included
Price-to-book vs return on equity (peers) The price-to-book that peers with this return on equity trade on, from a line fitted across peers. ~$16 ~$8.9–$24 Included
Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. ~$11 ~$14–$22 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$23 ~$22–$28 Included
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Happen, Inc. with banks and lenders in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

14 /100

Weak moat

How hard Happen's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -0.6% of total assets over 10 years.

  • Durability 10 / 20

    Net margin has been a median -2.6%; its worst year was -59.6%.

  • Cash conversion 3 / 20

    Free cash flow was positive in 3 of 10 years, at a median -58.1% of revenue.

  • Discipline 2 / 20

    The diluted share count rose 39.2% over five years; stock-based pay has been a median 8.1% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (19 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.89 +63% $1.0bn +4%
Next $2.39 +26% $1.3bn +20%

Next year's EPS estimate has moved +1.8% in 90 days, across 5 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +2.7% on 90 days ago. In the last 30 days, 5 analysts raised Happen, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Happen, Inc., last 90 days
$1.80 $2.00 $2.20 $2.40 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.84 Current fiscal year, 60 days ago: $1.86 Current fiscal year, 30 days ago: $1.85 Current fiscal year, 7 days ago: $1.85 Current fiscal year, Now: $1.89 $1.89 Next fiscal year, 90 days ago: $2.34 Next fiscal year, 60 days ago: $2.34 Next fiscal year, 30 days ago: $2.38 Next fiscal year, 7 days ago: $2.37 Next fiscal year, Now: $2.39 $2.39

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.84$2.34
60 days ago $1.86$2.34
30 days ago $1.85$2.38
7 days ago $1.85$2.37
Now $1.89$2.39

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.45 $0.50 +10.3%
Jun 2026 $0.42 $0.50 +19.9%
Mar 2026 $0.36 $0.44 +23.7%
Dec 2025 $0.34 $0.35 +4.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 28, 2026
  • Diluted EPS Full Year 2026 $1.87 to $1.92 Raised
    “Raising full year 2026 diluted EPS guidance to $1.87-$1.92 from $1.80-$1.90, reflecting 61%-66% annual growth.” source
  • Diluted EPS Fourth Quarter 2026 $0.43 to $0.48
    “Diluted EPS $0.43 to $0.48” source
  • Loan originations Full Year 2026 $12.3bn to $12.4bn Narrowed
    “Loan originations $12.3B to $12.4B” source
  • Loan originations Fourth Quarter 2026 $3.1bn to $3.2bn
    “Loan originations $3.1B to $3.2B” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

8 analysts, Oct 2026
Buy8100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026448
  2. Sep 2026448
  3. Aug 2026459

Counts of recommendations published by analysts covering Happen, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
7.7%
of tradable shares
Days to cover
3.93
at average volume
Short interest, 1 month
+21%
to October 15, 2026
Held by institutions
94%
of shares
Held by insiders
3.1%
of shares
Employees
1,075
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −10.5%

$17.39 on October 31, 2025 to $15.57

ThenNowEffect
Revenue (last 12 months) $885m $1.0bn +18.4%
Net margin 8.4% 18.7% +123.2%
P/E multiple 27.1x 9.4x −65.4%
Share count 116m 118m −2.0%

Biggest factor: p/e multiple.

Last 3 years +161.7%

$5.95 on November 3, 2023 to $15.57

ThenNowEffect
Revenue (last 12 months) $1.0bn $1.0bn +0.2%
Net margin 8.7% 18.7% +115.5%
P/E multiple 6.9x 9.4x +35.8%
Share count 105m 118m −10.8%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
HAPN+129%−64%−1%+85%+17%−18%
Industry peers (median)+38%−33%+15%+19%+22%+1%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
HAPN50%17%42%50%58%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
HAPN−51%−67%−54%−21%−51%−38%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 94% from November 3, 2015 to June 26, 2020. Getting back needed a 1577% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$13.32 – $21.58
From 52-week high
−27.8%
vs 50-day average
−1.7%
vs 200-day average
−8.0%
Volatility (1 year)
52%
Beta vs S&P 500
2.18

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±11.4%
After a week
5 up, 6 down
typical move ±12.9%
After a month
5 up, 6 down
typical move ±14.5%
Results releasedNext dayS&P 500 next day5 days21 days
October 28, 2026 +12.0% 0.0% — —
July 27, 2026 +4.9% +0.3% +13.2% +1.1%
April 27, 2026 −3.4% −0.3% −4.8% −4.5%
January 28, 2026 −21.0% −0.2% −23.0% −28.4%
October 22, 2025 +9.2% +0.1% +3.0% −6.0%
July 29, 2025 +22.7% −0.4% +22.6% +29.8%
April 29, 2025 −11.0% +0.7% −8.9% −7.7%
January 28, 2025 −13.3% +0.4% −20.8% −24.7%
October 23, 2024 +11.5% −0.7% +17.3% +28.2%
July 30, 2024 +12.4% +1.1% −9.9% +5.7%
April 30, 2024 +15.2% −1.9% +15.1% +13.3%
January 30, 2024 +0.2% −1.7% −3.6% −9.9%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Happen, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Happen, Inc.
$700M $800M $900M $1B $1.1B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $864.6M Revenue (TTM), FY24 Q1: $799.6M Revenue (TTM), FY24 Q2: $754.4M Revenue (TTM), FY24 Q3: $755.4M Revenue (TTM), FY24 Q4: $787M Revenue (TTM), FY25 Q1: $824M Revenue (TTM), FY25 Q2: $885.2M Revenue (TTM), FY25 Q3: $949.6M Revenue (TTM), FY25 Q4: $998.8M Revenue (TTM), FY26 Q1: $1B Revenue (TTM), FY26 Q2: $1B Revenue (TTM), FY26 Q3: $1B $1B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $864.6M
FY24 Q1 $799.6M
FY24 Q2 $754.4M
FY24 Q3 $755.4M
FY24 Q4 $787M
FY25 Q1 $824M
FY25 Q2 $885.2M
FY25 Q3 $949.6M
FY25 Q4 $998.8M
FY26 Q1 $1B
FY26 Q2 $1B
FY26 Q3 $1B
Revenue growth, TTM YoY Happen, Inc.
-40% -20% 0% 20% 40% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -27.2% Revenue growth, TTM YoY, FY24 Q1: -30.1% Revenue growth, TTM YoY, FY24 Q2: -27.9% Revenue growth, TTM YoY, FY24 Q3: -19.8% Revenue growth, TTM YoY, FY24 Q4: -9.0% Revenue growth, TTM YoY, FY25 Q1: 3.1% Revenue growth, TTM YoY, FY25 Q2: 17.3% Revenue growth, TTM YoY, FY25 Q3: 25.7% Revenue growth, TTM YoY, FY25 Q4: 26.9% Revenue growth, TTM YoY, FY26 Q1: 25.4% Revenue growth, TTM YoY, FY26 Q2: 18.4% Revenue growth, TTM YoY, FY26 Q3: 10.0% 10.0%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -27.2%
FY24 Q1 -30.1%
FY24 Q2 -27.9%
FY24 Q3 -19.8%
FY24 Q4 -9.0%
FY25 Q1 3.1%
FY25 Q2 17.3%
FY25 Q3 25.7%
FY25 Q4 26.9%
FY26 Q1 25.4%
FY26 Q2 18.4%
FY26 Q3 10.0%
FCF margin (TTM) Happen, Inc.
-600% -400% -200% 0% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: -138.3% FCF margin (TTM), FY24 Q1: -269.2% FCF margin (TTM), FY24 Q2: -396.4% FCF margin (TTM), FY24 Q3: -438.4% FCF margin (TTM), FY24 Q4: -341.6% FCF margin (TTM), FY25 Q1: -264.9% FCF margin (TTM), FY25 Q2: -230.6% FCF margin (TTM), FY25 Q3: -226.5% FCF margin (TTM), FY25 Q4: -287.1% FCF margin (TTM), FY26 Q1: -305.8% FCF margin (TTM), FY26 Q2: -282.2% FCF margin (TTM), FY26 Q3: -275.2% -275.2%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 -138.3%
FY24 Q1 -269.2%
FY24 Q2 -396.4%
FY24 Q3 -438.4%
FY24 Q4 -341.6%
FY25 Q1 -264.9%
FY25 Q2 -230.6%
FY25 Q3 -226.5%
FY25 Q4 -287.1%
FY26 Q1 -305.8%
FY26 Q2 -282.2%
FY26 Q3 -275.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

What Happen earned on its loans and securities in FY2025, what it paid depositors and lenders, and how its revenue split between running costs, credit losses, tax and profit.

  1. Interest income $962M
  2. Fee and other income $373M · 37.4%
  3. Interest paid $336M
  4. Net interest income $626M · 62.6%
  5. Revenue $999M
  6. Non-interest expense $631M · 63.1%
  7. Credit-loss provisions $191M · 19.2%
  8. Pre-tax profit $177M · 17.7%
  9. Income tax $41.3M · 4.1%
  10. Net income $136M · 13.6%

Shares of revenue. Source: Happen's 10-K for FY2025, as filed with the SEC.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2011 Mar 2011 2012 Mar 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 6 16 98 211 430 501 575 695 759 315 819 1,187 865 787 999 1,045
Net income −12 −12 7 −33 −5 −146 −154 −128 −31 −188 19 290 39 51 136 211
Diluted EPS −$0.26 −$1.36 $0.00 −$0.44 −$0.05 −$1.90 −$1.88 −$1.52 −$0.35 — $0.18 $2.79 $0.36 $0.45 $1.16 $1.79
Growth (year on year)
Revenue — +145.1% +520.4% +115.4% +103.6% +16.5% +14.7% +20.9% +9.2% −58.5% +160.1% +45.0% −27.2% −9.0% +26.9% +10.0%
Net income — — — −550.1% — — — — — — — +>999% −86.6% +31.8% +164.3% +102.8%
Diluted EPS — — — — — — — — — — — +>999% −87.1% +25.0% +157.8% +100.8%
Margins
Net margin −185.3% −75.6% 7.5% −15.6% −1.2% −29.1% −26.8% −18.5% −4.1% −59.6% 2.3% 24.4% 4.5% 6.5% 13.6% 20.2%
Free-cash-flow margin −150.0% −72.6% −9.5% 13.9% 8.2% −10.2% −107.6% −99.7% −42.4% 122.9% 25.1% 25.8% −138.3% −341.6% −287.1% −275.2%
Cash flow
Cash from operations −10 −11 1 50 75 1 −573 −640 −271 418 240 376 −1,137 −2,634 −2,727 −2,787
Capital spending 0 0 10 21 39 52 45 53 51 31 34 69 60 54 140 88
Free cash flow −10 −11 −9 29 35 −51 −618 −693 −321 387 205 306 −1,196 −2,688 −2,867 −2,875
Stock-based pay 0 1 6 37 51 69 71 75 74 62 67 66 52 40 34 30
Free cash flow after stock pay −10 −12 −16 −8 −16 −121 −689 −768 −395 325 139 240 −1,248 −2,729 −2,902 −2,904
Balance sheet
Cash — — 49 870 624 516 402 373 244 0 764 1,124 1,294 977 930 793
Total debt 0 0 0 49 0 0 232 81 20 — 28 3 19 0 0 0
Net debt (negative = net cash) — — −49 −820 −624 −516 −169 −292 −224 0 −736 −1,122 −1,275 −977 −930 −793
Diluted shares — 9m 81m 76m 75m 78m 82m 85m 87m — 102m 104m 108m 113m 117m 118m
Returned to shareholders
Dividends — — — — — — — 0 0 50 0 0 — — — —
Buybacks — — — 0 0 19 0 0 0 — — — — — — —
Total returned — — — 0 0 19 0 0 0 50 0 0 — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Dividends, buybacks and capital spending

Diluted share count
+1.0%
year over year

Competitors: side by side with peers

Closest by revenue in consumer finance
Last 12 months unless stated HAPN XYF OPRT UPST JFIN PRAA Median
Revenue, last 12 months $1.0bn $1.1bn $948m $1.2bn $866m $1.3bn $1.6bn
Revenue growth, last 12 months 10.0% 30.3% −2.3% 46.3% 7.4% 17.6% 10.4%
Revenue growth, 3-year average 3.5% — −3.0% 31.9% — 16.9% 11.3%
Revenue growth, latest quarter −1.2% — −0.5% 41.7% — 29.4% 10.6%
Operating margin — 21.3% — 4.0% 28.9% 5.0% 11.2%
Operating margin, 3-year average — 28.5% — −14.1% 27.9% 20.1% 19.8%
Net margin 20.2% 19.2% 2.1% 4.8% 24.7% −19.9% 10.5%
Cash from operations / revenue −266.8% 19.2% 44.4% −22.8% 20.2% −2.4% 22.7%
Free-cash-flow margin −275.2% 18.9% 42.4% −23.2% 10.0% −2.8% 18.4%
Free-cash-flow margin, 3-year average −313.4% −1.5% 39.4% −18.9% 8.0% −7.0% 23.6%
Stock pay / revenue 2.8% 0.8% 1.3% 11.7% 2.5% 1.3% 1.3%
Change in share count 1.0% −15.0% 9.4% 15.8% −1.7% −2.4% −0.8%

Median of all 39 companies we cover in consumer finance. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

39 consumer finance companies
Measure Company Peer median Rank
Revenue growth Growth 10.0% 10.4% 22 of 39
Change in growth rate Growth -8.3pp +0.6pp 33 of 38
Net margin Profitability 20.2% 10.5% 6 of 39
Stock pay as % of revenue Cash generation 2.8% 1.3% 30 of 36
Change in share count Balance sheet 1.0% -0.0% 24 of 38

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue YoY
Financial Service $373M ▲ 31.5%
Servicing Fees $59M ▼ 9.2%

These categories overlap or exclude eliminations, so shares aren't shown.

From Happen, Inc.'s 10-K filed February 12, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$2.2B
Institutions reporting
243
Shares held vs prior quarter
▲ 1.1%
Positions opened / closed
38 / 39

Top buyers and sellers, Q2 2026: 128 institutions bought and 113 sold ; the biggest buyer was Wellington Management Group LLP (+2.5M shares) and the biggest seller Fuller & Thaler Asset Management, Inc (−3.4M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Wellington Management Group LLP $317M 15.3M 14.7% ▲ 19.8%
Blackrock, Inc. $209M 10.1M 9.7% ▲ 4.9%
Vanguard Portfolio Management LLC $171M 8.2M 7.9% ▲ 8.1%
Dimensional Fund Advisors LP $130M 6.3M 6.0% ▲ 9.1%
Vanguard Capital Management LLC $102M 4.9M 4.7% ▲ 0.1%
T. Rowe Price Investment Management, Inc. $77M 3.7M 3.6% ▲ 77.7%
Senvest Management, LLC $69.4M 3.3M 3.2% ▼ 26.4%
American Century Companies Inc $65.3M 3.1M 3.0% ▲ 16.6%
Geode Capital Management, LLC $61.1M 2.9M 2.8% ▼ 5.4%
State Street Corp $61M 2.9M 2.8% ▲ 1.7%
Westfield Capital Management Co LP $51.9M 2.5M 2.4% ▲ 18.1%
Long Focus Capital Management, LLC $34.5M 1.7M 1.6% ▼ 14.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Happen, Inc.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $9.4M 30 trades by 6 insiders · 100% under pre-set plans
Net ▼ $9.4M net selling
Insider Date Trade Shares Price Value
Cheng Jordan General Counsel & Secretary October 29, 2026 Sell pre-set plan 2,800 $16.00 $44,800
Selleck Erin Director September 15, 2026 Sell pre-set plan 7,148 $16.68 $119,229
Selleck Erin Director September 4, 2026 Sell pre-set plan 2,057 $17.41 $35,812
Cheng Jordan General Counsel & Secretary September 3, 2026 Sell pre-set plan 2,800 $17.56 $49,168
Sanborn Scott CEO August 26, 2026 Sell pre-set plan 28,750 $18.25 $524,710
Stack Fergal SVP, Corporate Controller August 20, 2026 Sell pre-set plan 37,500 $18.11 $679,009
Stack Fergal SVP, Corporate Controller August 19, 2026 Sell pre-set plan 37,500 $18.64 $699,056
Stack Fergal SVP, Corporate Controller August 18, 2026 Sell pre-set plan 40,000 $18.86 $754,532
Labenne Andrew Chief Financial Officer August 10, 2026 Sell pre-set plan 13,929 $19.37 $269,823
Sanborn Scott CEO August 5, 2026 Sell pre-set plan 28,750 $20.56 $591,192
Sanborn Scott CEO July 15, 2026 Sell pre-set plan 28,750 $20.08 $577,242
Cheng Jordan General Counsel & Secretary July 1, 2026 Sell pre-set plan 5,500 $20.85 $114,694

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around January 27, 2027 estimated from the company's past filing pattern, not announced

  • October 28, 2026
  • July 27, 2026
  • April 27, 2026
  • January 28, 2026
  • October 22, 2025
  • July 29, 2025

Recent SEC filings

Data status

When each part of this page on Happen, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Happen, Inc. in brief

What does Happen, Inc. do?
Happen, Inc. is a US-listed company in the consumer finance industry. Its financial year ends in December.
What is Happen, Inc.'s stock ticker?
Happen, Inc. trades under the ticker HAPN on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Happen, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Happen, Inc. reported revenue of $1B, 10.0% higher than a year earlier, according to its SEC filings.
What is Happen, Inc.'s free cash flow?
Happen, Inc.'s free-cash-flow margin is -275.2% of revenue over the trailing twelve months.
Who are Happen, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Wellington Management Group LLP, Blackrock, Inc. and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Happen, Inc.'s market cap?
On November 2, 2026, Happen, Inc.'s market capitalisation was about $1.8B, with a price-to-earnings ratio of 8.7 and net debt of -$793M. Market figures come from third-party market data and may be delayed.
Who are Happen, Inc.'s competitors?
In our Consumer Finance peer group, the companies closest to Happen, Inc. are X Financial, Oportun Financial Corp, Upstart Holdings, Inc., Jiayin Group Inc. and PRA Group Inc. The side-by-side comparison below sets their revenue, margins and growth against Happen, Inc.'s.
Are insiders buying or selling Happen, Inc. stock?
Over the last 12 months, Happen, Inc.'s directors and officers reported 0 open-market purchases and 30 sales on Form 4. The insider trading page charts every trade.
When is Happen, Inc.'s next earnings date?
Around January 27, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Happen, Inc. announces its own schedule.