secwatch.observer — SEC 8-K summary
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Issuer:     Open Lending Corp (LPRO)
CIK:        0001806201
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001806201-24-000084
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1806201/000180620124000084/0001806201-24-000084-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1806201/000180620124000084/lpro-20240507.htm
  HTML page:      https://secwatch.observer/filing/0001806201-24-000084

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