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Mar 31, 2023
OPENLANE Q1 2023 Earnings Report
Reported solid first quarter performance with double-digit growth in revenue, gross profit, adjusted EBITDA, and operating adjusted earnings per share.
Key Takeaways
KAR Auction Services, Inc. reported a strong first quarter with a 14% increase in total revenue and significant improvements in operating profit and income from continuing operations. Adjusted EBITDA also saw a 20% increase year-over-year.
Total revenue increased 14% year-over-year.
Operating profit and income from continuing operations showed significant increases.
Adjusted EBITDA increased 20% year-over-year.
Marketplace segment grew revenue and profitability through increased service attach rates and buyer participation.
OPENLANE
OPENLANE
OPENLANE Revenue by Segment
Revenue by Segment
Marketplace Revenue
CapyFin.comFinance Revenue
CapyFin.comPurchased Vehicle Sales Revenue
CapyFin.com Forward Guidance
The company’s previously stated annual guidance for Adjusted EBITDA of $250 to $270 million and operating adjusted net income from continuing operations per diluted share of $0.37 to $0.47 remains unchanged.
Revenue & Expenses
Visualization of income flow from segment revenue to net income