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Mar 31, 2024
OPENLANE Q1 2024 Earnings Report
OPENLANE's first quarter results for 2024 showed marketplace volume growth and strong adjusted EBITDA contribution.
Key Takeaways
OPENLANE, Inc. reported its first quarter financial results for the period ended March 31, 2024. The company saw a 13% increase in marketplace volumes and adjusted EBITDA of $75 million, with the marketplace segment contributing 47% of the total. The finance segment was also a strong contributor.
Marketplace volumes increased 13% YoY
Gross Merchandise Value (GMV) increased 17% to $7 billion YoY
Income from continuing operations of $19 million
Adjusted EBITDA of $75 million, with Marketplace accelerating to 47% of total
Revenue by Segment
Forward Guidance
The company’s previously stated annual guidance remains unchanged.
Positive Outlook
- Income from continuing operations (in millions): $74 - $88
- Adjusted EBITDA (in millions): $285 - $305
- Income from continuing operations per share - diluted: $0.20 - $0.30
- Operating adjusted net income from continuing operations per share - diluted: $0.77 - $0.87
Historical Earnings Impact
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Avg. Return Before/After Earnings
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