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Jun 30, 2023
Open Lending Q2 2023 Earnings Report
Reported results ahead of expectations in the second quarter, including the certification of 34,354 loans.
Key Takeaways
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.
Facilitated 34,354 certified loans in Q2 2023, compared to 44,531 in Q2 2022.
Total revenue reached $38.2 million in Q2 2023, down from $52.0 million in Q2 2022.
Gross profit amounted to $32.0 million in Q2 2023, a decrease from $47.0 million in Q2 2022.
Net income was $11.4 million in Q2 2023, compared to $23.1 million in Q2 2022.
Revenue by Segment
Forward Guidance
The Company is issuing guidance ranges as follows: Total Certified Loans 26,000 - 30,000, Total Revenue $29 - $34 million, Adjusted EBITDA $13 - $17 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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