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Dec 31, 2023
OPENLANE Q4 2023 Earnings Report
OPENLANE reported Q4 2023 financial results, exceeding annual guidance and demonstrating progress from strategic investments and cost management.
Key Takeaways
OPENLANE, Inc. reported solid Q4 and full-year 2023 results, exceeding guidance with volume, revenue, and margin growth attributed to strategic investments, brand simplification, and cost diligence. Total revenue reached $1,645 million, an 8% increase, and adjusted EBITDA grew by 18% to $272 million.
Total revenue increased by 8% to $1,645 million.
Adjusted EBITDA increased by 18% to $272 million, with Marketplace contributing approximately 40%.
Marketplace volumes increased 3% and 10% in the fourth quarter.
Cash flow from operating activities was $237 million.
OPENLANE
OPENLANE
OPENLANE Revenue by Segment
Revenue by Segment
Purchased Vehicle Sales Revenue
CapyFin.com Forward Guidance
OPENLANE provided its 2024 annual guidance, including income from continuing operations between $74 million and $88 million, and adjusted EBITDA between $285 million and $305 million.