secwatch.observer — SEC 8-K summary
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Issuer:     OPENLANE, Inc. (OPLN)
CIK:        0001395942
Form:       8-K
Filed at:   2022-05-03T23:59:59+00:00
Accession:  0001395942-22-000030
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

KAR posts Q1 revenue $369.4M, net loss $8.4M; expects Carvana deal close within week
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- Revenue from continuing ops flat at $369.4M; net loss from continuing ops $8.4M ($0.16 diluted loss per share).
- Adjusted EBITDA from continuing ops fell to $49.1M from $77.2M in Q1 2021; includes $17M prior-year investment gains.
- Expects to close ADESA U.S. physical auction sale to Carvana within a week; pro forma KAR to target $265M Adjusted EBITDA in 2022.
- ADESA digital dealer-to-dealer volumes up 31% YoY; gross profit per vehicle sold rose to $255 from $248.
- Board authorized $200M increase in share repurchase program, leaving ~$309M available for repurchases through Dec 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1395942/000139594222000030/0001395942-22-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1395942/000139594222000030/kar-20220503.htm
  HTML page:      https://secwatch.observer/filing/0001395942-22-000030

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