Open Lending Q2 2022 Earnings Report
Key Takeaways
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.
Facilitated 44,531 certified loans during the second quarter of 2022.
Total revenue was $52.0 million during the second quarter of 2022.
Gross profit was $47.0 million during the second quarter of 2022.
Net income was $23.1 million during the second quarter of 2022.
Open Lending
Open Lending
Open Lending Revenue by Segment
Forward Guidance
The Company is revising its guidance ranges as follows: Total Certified Loans 155,000 - 185,000, Total Revenue $175 - 205 million, Adjusted EBITDA $110 - 135 million, Adjusted Operating Cash Flow $115 - 145 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income