Open Lending Q2 revenue down 27% YoY to $38.2M; certified loans fall 23%

Open Lending Corp

2023-Q2 EPS reported $0.20 revenue$76,515,000

Certified loans of 34,354 in Q2 2023 vs 44,531 in Q2 2022, a 22.9% decline.
Revenue $38.2M, down from $52.0M; gross profit $32.0M vs $47.0M a year ago.
Net income $11.4M ($0.09 per diluted share) vs $23.1M ($0.18) in Q2 2022.
Adjusted EBITDA $20.7M vs $34.0M; company says results ahead of internal expectations.
CEO notes focus on sales channels and tech to capture demand when industry recovers.

item 2.02

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.99

Open Lending Corp reported fiscal quarter ended June 30, 2023 results: revenue 38.2 million, net income 11.4 million.

Period: fiscal quarter ended June 30, 2023
Revenue: 38.2 million
Net income: 11.4 million
Result: reported results

Exact text from the filing

Total revenue was $38.2 million during the second quarter of 2023, compared to $52.0 million in the second quarter of 2022

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

Open Lending Corp reported fiscal quarter ended June 30, 2023 results: revenue 38.2 million, net income 11.4 million.

Period: fiscal quarter ended June 30, 2023
Revenue: 38.2 million
Net income: 11.4 million
Result: reported results

Exact text from the filing

• The Company facilitated 34,354 certified loans during the second quarter of 2023, compared to 44,531 certified loans in the second quarter of 2022 • Total revenue was $38.2 million during the second quarter of 2023, compared to $52.0 million in the second quarter of 2022 • Gross profit was $32.0 million during the second quarter of 2023, compared to $47.0

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Open Lending Corp filing history →

Source: SEC EDGAR

accession 0001806201-23-000100

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