secwatch.observer — SEC 8-K summary
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Issuer:     Open Lending Corp (LPRO)
CIK:        0001806201
Form:       8-K
Filed at:   2024-08-08T23:59:59+00:00
Accession:  0001806201-24-000119
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02
LLM model:  deepseek-v4-flash:cloud@v2

Open Lending Q2 revenue $26.7M, net income $2.9M; certified loans 28,963, down 16% YoY
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- Total revenue $26.7M, down 30% from $38.2M in Q2 2023; gross profit $21.0M vs $32.0M.
- Net income $2.9M vs $11.4M in prior year; adjusted EBITDA $9.9M vs $20.7M.
- Certified loans facilitated 28,963, down 16% from 34,354 in Q2 2023.
- Profit share estimate reduced by $6.7M on historic vintages vs $1.2M reduction last year.
- CEO cites challenging automotive lending environment but sees early signs of improvement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1806201/000180620124000119/0001806201-24-000119-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1806201/000180620124000119/lpro-20240808.htm
  HTML page:      https://secwatch.observer/filing/0001806201-24-000119

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