secwatch.observer — SEC 8-K summary
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Issuer:     Open Lending Corp (LPRO)
CIK:        0001806201
Form:       8-K
Filed at:   2024-02-27T23:59:59+00:00
Accession:  0001806201-24-000033
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02
LLM model:  deepseek-v4-flash:cloud@v2

Open Lending Q4 2023 revenue $14.9M, net loss $4.8M; certified loans down 24% YoY
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- Q4 2023 certified loans 26,263, down 24% from 34,550 YoY; total revenue $14.9M (down 44% from $26.8M).
- Q4 net loss $4.8M vs loss $4.2M a year ago; adjusted EBITDA -$2.1M vs $8.5M.
- Full-year 2023 certified loans 122,984, down 26% from 165,211; revenue $117.5M vs $179.6M.
- Profit share revenue reduced by $14.3M in Q4 and $22.8M for full year due to historical vintage adjustments.
- CEO cites continued product, technology, and go-to-market improvements; priorities for 2024 include bank segment expansion.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1806201/000180620124000033/0001806201-24-000033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1806201/000180620124000033/lpro-20240227.htm
  HTML page:      https://secwatch.observer/filing/0001806201-24-000033

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