secwatch.observer — SEC 8-K summary
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Issuer:     Open Lending Corp (LPRO)
CIK:        0001806201
Form:       8-K
Filed at:   2023-11-07T23:59:59+00:00
Accession:  0001806201-23-000134
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02
LLM model:  deepseek-v4-flash:cloud@v2

Open Lending Q3 2023 revenue down 49% YoY to $26.0M; certified loans drop 29% to 29,959
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- Total revenue $26.0M, down from $50.7M YoY; includes $8.1M reduction in estimated future profit share revenues.
- Net income $3.0M vs $24.5M YoY; adjusted EBITDA $10.3M vs $29.4M.
- Certified loans 29,959, down 29% from 42,186 in Q3 2022.
- CEO cites challenging market conditions but strong balance sheet and no near-term debt maturities.
- Company continues to invest for future recovery amid pent-up demand expectations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1806201/000180620123000134/0001806201-23-000134-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1806201/000180620123000134/lpro-20231107.htm
  HTML page:      https://secwatch.observer/filing/0001806201-23-000134

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