secwatch.observer — SEC 8-K summary
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Issuer:     OPENLANE, Inc. (OPLN)
CIK:        0001395942
Form:       8-K
Filed at:   2021-11-02T23:59:59+00:00
Accession:  0001395942-21-000092
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1395942/000139594221000092/0001395942-21-000092-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1395942/000139594221000092/kar-20211027.htm
  HTML page:      https://secwatch.observer/filing/0001395942-21-000092

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer