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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
Revenue by Segment
Program Fees Revenue
CapyFin.comProfit Share Revenue
CapyFin.comClaims Admin & Other Service Fees Revenue
CapyFin.com 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