LendingClub Corp. reported a second-quarter GAAP net loss of $25.4 million, or a loss of 6 cents per share, compared with net loss of $81.4 million, or a loss of 21 cents per share, in the prior-year period.

The company recorded an adjusted net loss of $5.3 million, or a loss of 1 cent per share, up from an adjusted net loss of $35.0 million, or a loss of 9 cents per share, in the second quarter of 2016.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was for a loss of 2 cents.

LendingClub attributed its second-quarter GAAP net loss' sequential improvement to a $15.1 million increase in revenue, which was offset by higher administrative and general expenses as the company saw a lower sequential insurance reimbursement of $2.4 million compared to $9.6 million in the first quarter.

Total net revenue for the quarter was $139.6 million, up year over year from $103.4 million in the year-ago quarter. Adjusted EBITDA was $4.5 million, compared with a loss of $29.1 million in the same period a year ago.

Loan originations during the second quarter were $2.15 billion, compared with $1.96 billion a year earlier.

The company also provided guidance for the third quarter, while increasing its outlook for the full year. For the third quarter, LendingClub expects total net revenue to be between $154 million and $159 million. The company anticipates a net loss of $12 million to $8 million, and adjusted EBITDA to range between $18 million and $22 million.

For the full year, the company now expects net revenue to be between $585 million and $600 million, compared with the prior range of $575 million to $595 million. The company also now projects a full-year net loss between $69 million and $61 million, and adjusted EBITDA of $50 million to $58 million. Previously, the company expected a net loss of $77 million to $67 million and adjusted EBITDA of $45 million to $55 million.