Open Lending Q1 revenue down 23% YoY to $38.4M; net income falls to $12.5M

Open Lending Corp

2023-Q1 EPS reported $0.10 revenue$38,361,000

32,408 certified loans in Q1 2023, down 26% from 43,944 in Q1 2022.
Revenue $38.4M (-23% YoY); gross profit $32.9M (-27% YoY).
Net income $12.5M (-46% YoY); Adjusted EBITDA $21.2M (-37% YoY).
CEO Keith Jezek says results ahead of expectations; no updated FY2023 guidance provided.

item 2.02

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Open Lending Corp reported the fiscal quarter ended March 31, 2023 results: revenue $38.4 million, net income $12.5 million.

Period: the fiscal quarter ended March 31, 2023
Revenue: $38.4 million
Net income: $12.5 million
Result: reported results

Exact text from the filing

financial results for its first quarter of 2023. “First quarter results were ahead of our expectations and included the certification of 32,408 loans and total revenue of $38.4 million. We also reported net income of $12.5 million and Adjusted EBITDA of $21.2 million, ” said Keith Jezek , CEO of Open Lending . “In this challenging economic environment, we

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Source: SEC EDGAR

accession 0001806201-23-000064

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