secwatch.observer — SEC 8-K summary
======================================

Issuer:     Open Lending Corp (LPRO)
CIK:        0001806201
Form:       8-K
Filed at:   2023-02-23T23:59:59+00:00
Accession:  0001806201-23-000026
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1806201/000180620123000026/0001806201-23-000026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1806201/000180620123000026/lpro-20230223.htm
  HTML page:      https://secwatch.observer/filing/0001806201-23-000026

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