Open Lending Q1 revenue $30.7M, down 20% YoY; certified loans fall 13% to 28,189

Open Lending Corp

2024-Q1 EPS reported $0.04 revenue$30,745,000

Certified loans 28,189 in Q1 2024 vs 32,408 in Q1 2023 (-13% YoY).
Total revenue $30.7M vs $38.4M (-20%); gross profit $25.0M vs $32.9M.
Net income $5.1M vs $12.5M; Adjusted EBITDA $12.5M vs $21.2M.
Exceeded high end of guidance for certified loans and revenue; management cites improving market conditions.

item 2.02

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Open Lending Corp reported fiscal quarter ended March 31, 2024 results: revenue $30.7 million, net income $5.1 million.

Period: fiscal quarter ended March 31, 2024
Revenue: $30.7 million
Net income: $5.1 million
Result: reported results

Exact text from the filing

• The Company facilitated 28,189 certified loans during the first quarter of 2024, compared to 32,408 certified loans in the first quarter of 2023. • Total revenue was $30.7 million during the first quarter of 2024, compared to $38.4 million in the first quarter of 2023. The first quarter of 2024 was negatively impacted by a $1.1 million reduction in

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Source: SEC EDGAR

accession 0001806201-24-000084

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