Open Lending Q3 2020 Earnings Report
Key Takeaways
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.
Facilitated 20,696 certified loans during the third quarter of 2020, compared to 19,087 certified loans in the third quarter of 2019.
Total revenue was $29.8 million, compared to $22.1 million in the third quarter of 2019.
Gross profit was $27.3 million, compared to $20.2 million in third quarter of 2019
Adjusted EBITDA was $19.7 million, compared to $15.3 million in the third quarter of 2019
Open Lending
Open Lending
Open Lending Revenue by Segment
Forward Guidance
Based on third quarter results and thoughts regarding the remainder of the year, the Company is reaffirming its previously issued guidance of the following:
Revenue & Expenses
Visualization of income flow from segment revenue to net income