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Mar 31, 2023
Open Lending Q1 2023 Earnings Report
Open Lending reported first quarter 2023 financial results, exceeding expectations with revenue of $38.4 million and the certification of 32,408 loans.
Key Takeaways
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.
The Company facilitated 32,408 certified loans during the first quarter of 2023.
Total revenue was $38.4 million during the first quarter of 2023.
Gross profit was $32.9 million during the first quarter of 2023.
Net income was $12.5 million during the first quarter of 2023.
Open Lending
Open Lending
Open Lending Revenue by Segment
Forward Guidance
Based on trends into second quarter 2023, the Company is issuing guidance ranges as follows: Total Certified Loans 29,000 - 33,000, Total Revenue $33 - $37 million, Adjusted EBITDA $16 - $20 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income