---
schema_version: "secwatch.filing_event.v1"
accession: "0001395942-23-000076"
form_type: "8-K"
ticker: "OPLN"
cik: "0001395942"
company_name: "OPENLANE, Inc."
filed_at: "2023-08-02T23:59:59+00:00"
generated_at: "2026-06-12T12:28:12.058390+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# OPENLANE Q2 revenue $416.9M (+9%), adjusted EBITDA $83.8M (+49%), net loss $193.8M on impairment charges

## Summary
- Revenue $416.9M (+9% YoY); loss from continuing ops $193.8M (diluted EPS $(1.87)) driven by $221.4M net impairment charges.
- Adjusted EBITDA $83.8M (+49%, incl. $20M early termination payment); Marketplace adj EBITDA $43.5M vs $5.0M prior year.
- Operating adjusted net income $36.8M ($0.25/diluted share) vs $6.6M ($0.04) in Q2 2022.
- FY2023 guidance: Adj EBITDA $250-270M reaffirmed; op adj net income per share $0.60-0.70; GAAP EPS loss $(1.92)-$(1.80).
- Recorded non-cash impairments: goodwill $225.3M (U.S. D2D & Europe) and $25.5M ADESA tradename; net debt reduced $117.5M in H1.

## SEC filing metadata
- accession: 0001395942-23-000076
- form_type: 8-K
- ticker: OPLN
- cik: 0001395942
- company_name: OPENLANE, Inc.
- filed_at: 2023-08-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1395942/000139594223000076/0001395942-23-000076-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1395942/000139594223000076/kar-20230802.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001395942-23-000076
- JSON: https://secwatch.observer/filing/0001395942-23-000076.json
- Plain text: https://secwatch.observer/filing/0001395942-23-000076.txt

## Key facts
- Earnings Releases
  OPENLANE, Inc. updated its the fiscal year ending December 31, 2023 guidance (reaffirmed).
  - Period: the fiscal year ending December 31, 2023
  - Guidance: reaffirmed
  - Result: guidance update
  source text: The company’s previously stated annual guidance for Adjusted EBITDA remains unchanged, while the company's other guidance measures have been updated as shown below. Annual Guidance Income (loss) from continuing operations ( in millions ) ($166) - ($153) Adjusted EBITDA ( in millions ) $250 - $270 Income (loss) from continuing operations per share - diluted * ($1.92) - ($1.80) Operating adjusted net income from continuing operations per share - diluted $0.60 - $0.70
  evidence_url: https://www.sec.gov/Archives/edgar/data/1395942/000139594223000076/0001395942-23-000076-index.htm
- Earnings Releases
  OPENLANE, Inc. reported the three months ended June 30, 2023 results: revenue $416.9 million, net income $193.8 million, EPS $(1.87) per diluted share.
  - Period: the three months ended June 30, 2023
  - Revenue: $416.9 million
  - Net income: $193.8 million
  - EPS: $(1.87) per diluted share
  - Result: reported results
  source text: Total revenue of $416.9 million, an increase of 9% year-over-year • Loss from continuing operations of $193.8 million, or $(1.87) per diluted share, driven by non-cash goodwill and intangibles impairment charges of $221.4 million, net of tax impacts
  evidence_url: https://www.sec.gov/Archives/edgar/data/1395942/000139594223000076/0001395942-23-000076-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.