Loading...
•
Sep 30, 2022
Open Lending Q3 2022 Earnings Report
Reported financial results for the third quarter of 2022, with results in line with expectations despite continued challenging economic and industry dynamics.
Key Takeaways
Open Lending reported Q3 2022 financial results with a total revenue of $50.7 million and a net income of $24.5 million. The company facilitated 42,186 certified loans. Despite challenging economic conditions, Open Lending remains focused on investing in its sales strategy and technology, leveraging its strong cash generation and resilient business model.
Facilitated 42,186 certified loans during the third quarter of 2022, compared to 49,332 certified loans in the third quarter of 2021.
Total revenue was $50.7 million during the third quarter of 2022, compared to $58.9 million in the third quarter of 2021.
Gross profit was $45.5 million during the third quarter of 2022, compared to $52.5 million in the third quarter of 2021.
Net income was $24.5 million during the third quarter of 2022, compared to $29.4 million in the third quarter of 2021.
Revenue by Segment
Forward Guidance
The Company is modifying its guidance ranges as follows: Full Year 2022 OutlookTotal Certified Loans160,000 - 170,000Total Revenue$180 - 190 millionAdjusted EBITDA$112 - 122 millionAdjusted Operating Cash Flows (a)$130 - 145 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...