Open Lending Q4 2022 Earnings Report
Key Takeaways
Open Lending Corporation reported a decrease in certified loans, total revenue, gross profit, net loss, and adjusted EBITDA for Q4 2022 compared to Q4 2021. The company certified 34,550 loans and reported a total revenue of $26.8 million. Net loss was $4.2 million and Adjusted EBITDA was $8.5 million.
Facilitated 34,550 certified loans, a decrease from 42,639 in Q4 2021.
Total revenue was $26.8 million, down from $51.6 million in Q4 2021, impacted by a $12.8 million reduction in estimated future revenues.
Net loss was $4.2 million, compared to net income of $27.8 million in Q4 2021.
Adjusted EBITDA was $8.5 million, a decrease from $36.6 million in Q4 2021.
Open Lending
Open Lending
Open Lending Revenue by Segment
Forward Guidance
The Company is issuing its first quarter 2023 guidance ranges as follows: Total Certified Loans 28,000 - 32,000, Total Revenue $30 - $34 million, Adjusted EBITDA $13 - $17 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income