Open Lending Q4 revenue $51.6M, FY revenue $215.7M (+98% YoY), net income swings to profit

Open Lending Corp

2021-FY EPS reported $1.16 revenue$215,655,000

Q4 2021: Revenue $51.6M (up 30% YoY), GAAP net income $27.8M vs $15.2M, adj. EBITDA $36.6M.
Full year 2021: revenue $215.7M (up 98% YoY), GAAP net income $146.1M vs net loss of $97.6M in 2020.
Q4 certified loans 42,639 (+59% YoY); FY 171,697 (+82% YoY); added 71 new customers in 2021.
Refinance channel grew to 34% of total certs in Q4; unit economics normalized after removing COVID-19 underwriting standards.
Adjusted EBITDA margin improved to 71% in Q4 (63% in Q4 2020) and 72% for full year (64% in 2020).

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