Open Lending Q4 2022 revenue $26.8M, net loss $4.2M; FY revenue $179.6M, down 17% YoY

Open Lending Corp

2022-FY EPS reported $0.53 revenue$179,594,000

Q4 2022 certified loans 34,550 vs 42,639 YoY; total revenue $26.8M vs $51.6M; net loss $4.2M vs net income $27.8M.
FY 2022 certified loans 165,211 vs 171,697; total revenue $179.6M vs $215.7M; net income $66.6M vs $146.1M.
Q4 2022 revenue impacted by $12.8M reduction in estimated future revenues related to historic vintages.
Adjusted EBITDA Q4 $8.5M vs $36.6M; FY $105.7M vs $155.0M.
CEO cites worst vehicle sales in nearly a decade, historic wholesale used car value declines, and record vehicle affordability challenges.

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