KAR reports Q3 net loss of $1M; revenue down 10% to $535M

OPENLANE, Inc.

2021-Q3 EPS reported $0.20 revenue$1,702,200,000

Net loss of $1.0M ($0.10 diluted EPS) vs net income of $47.1M in Q3 2020.
Revenue $535.2M, down 10% YoY; adjusted EBITDA $96.6M vs $139.2M.
North American digital dealer-to-dealer volumes up 105% YoY (19% incl. BacklotCars pre-acquisition).
ADESA gross profit per vehicle sold up 10% to $274; total vehicles sold 586,000 vs 871,000.
Sanjeev Mehra, former Goldman partner and previous KAR director (2007-2013), elected to board.

item 2.02 item 5.02 item 9.01

Executive movements

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Appointed

Sanjeev Mehra

Director

OPLN · OPENLANE, Inc.

Effective: 2021-10-27
Filed: November 2, 2021, 7:59 PM ET

elected Sanjeev Mehra to the Board, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Sanjeev Mehra was elected as Director at OPENLANE, Inc..

Action: elected
Role: Director

Exact text from the filing

elected Sanjeev Mehra to the Board, effective immediately.

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OPENLANE, Inc. filing history →

Source: SEC EDGAR

accession 0001395942-21-000092

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