Open Lending Earnings Reports

In Q4 2024, Open Lending experienced a dramatic swing to negative revenue and a substantial net loss due to a downward adjustment in estimated profit share revenues. Despite stable program fees and a consistent number of certified loans, macroeconomic challenges and vintage underperformance severely impacted financials.

Open Lending reported a decrease in certified loans and revenue for Q3 2024 compared to Q3 2023. The company facilitated 27,435 certified loans, with a total revenue of $23.5 million. Net income decreased to $1.4 million, and adjusted EBITDA was $7.8 million. The results were near or above the high end of guidance, excluding the negative change in the profit share estimate.

Open Lending reported its second quarter 2024 financial results, with performance near or above the high end of guidance for certified loans, revenue, and Adjusted EBITDA, excluding a negative change in estimated profit share. Total revenue was $26.7 million and net income was $2.9 million.

Open Lending reported a decrease in certified loans and revenue for Q1 2024 compared to the previous year. The company facilitated 28,189 certified loans and generated $30.7 million in revenue. Net income and Adjusted EBITDA also decreased. However, the company exceeded the high end of its guidance for both certified loans and revenue.

Open Lending reported a decrease in certified loans and revenue for Q4 2023 compared to Q4 2022, with revenue negatively impacted by a reduction in estimated future profit share revenues. The company's priorities for 2024 include optimizing the core business and expanding into the bank segment.

Open Lending reported a decrease in certified loans and total revenue for Q3 2023 compared to the previous year. The company is focusing on positioning itself for future growth through strategic investments and believes it has a strong foundation with a substantial addressable market and positive cash flow.

Open Lending reported Q2 2023 financial results with a total revenue of $38.2 million and 34,354 certified loans. The company's performance exceeded expectations due to optimizing sales channels, enhancing technology, and attracting top talent, positioning it to capitalize on future industry recovery.

Open Lending reported a solid first quarter with revenue exceeding expectations at $38.4 million. The company certified 32,408 loans and reported a net income of $12.5 million and an Adjusted EBITDA of $21.2 million.

Open Lending Corporation reported a decrease in certified loans, total revenue, gross profit, net loss, and adjusted EBITDA for Q4 2022 compared to Q4 2021. The company certified 34,550 loans and reported a total revenue of $26.8 million. Net loss was $4.2 million and Adjusted EBITDA was $8.5 million.

Open Lending reported Q3 2022 financial results with a total revenue of $50.7 million and a net income of $24.5 million. The company facilitated 42,186 certified loans. Despite challenging economic conditions, Open Lending remains focused on investing in its sales strategy and technology, leveraging its strong cash generation and resilient business model.

Open Lending reported a decrease in revenue and net income for Q2 2022 compared to the previous year, but added 18 new customers. They are updating their guidance for the year to take into account the short-term headwinds surrounding the auto lending industry.

Open Lending reported a strong first quarter in 2022, with a 32% increase in certified loans and a 14% increase in revenue compared to the first quarter of 2021. The company added 18 new customers and saw increased certification volume from its top 10 customers.

Open Lending Corporation reported strong financial results for Q4 2021, with a significant increase in certified loans, revenue, and net income compared to Q4 2020. The company also issued full year 2022 guidance.

Open Lending reported a strong third quarter in 2021, marked by a 138% increase in certified loans, a 98% increase in revenue, and a 113% increase in Adjusted EBITDA compared to the third quarter of 2020. The company added 16 new accounts, including four tier one accounts, and experienced substantial growth in their OEM segment.

Open Lending reported a record second quarter of 2021, with a 148% increase in certified loans, a 177% increase in revenue, and a 199% increase in Adjusted EBITDA compared to the second quarter of 2020. The company signed an agreement with a third insurance partner, American National, and sees a strong pipeline of new credit union and regional bank customers.

Open Lending reported a strong first quarter in 2021, marked by a 19% increase in certified loans, a 152% increase in revenue, and a 217% increase in Adjusted EBITDA compared to Q1 2020. The company also achieved a record month in March for certified loans and continued to expand its customer base and partnerships.

Open Lending Corporation reported a 52% increase in revenue and a 37% increase in Adjusted EBITDA compared to the fourth quarter of 2019. The company facilitated 26,822 certified loans during the quarter, a 19% increase year-over-year. New larger credit union partnerships were announced, and progress was made on OEM relationship expansion.

Open Lending reported an 8% increase in certified loans, a 35% increase in revenue, and a 29% increase in Adjusted EBITDA compared to the third quarter of 2019. Total revenue was $29.8 million compared to $22.1 million in the third quarter of 2019. The company had a GAAP net loss of $71.1 million, primarily attributable to a change in the estimated fair value of contingent consideration shares.