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

Issuer:     Open Lending Corp (LPRO)
CIK:        0001806201
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0001806201-23-000100
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1806201/000180620123000100/0001806201-23-000100-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1806201/000180620123000100/lpro-20230808.htm
  HTML page:      https://secwatch.observer/filing/0001806201-23-000100

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