secwatch.observer — SEC 8-K summary
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Issuer:     Open Lending Corp (LPRO)
CIK:        0001806201
Form:       8-K
Filed at:   2024-11-07T23:59:59+00:00
Accession:  0001806201-24-000142
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02
LLM model:  deepseek-v4-flash:cloud@v2

Open Lending Q3 revenue $23.5M, down 9.6% YoY; net income $1.4M vs $3.0M
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- Certified loans fell to 27,435 from 29,959 YoY, a decline of 8.4%.
- Revenue $23.5M, hit by $7.0M reduction in profit share estimates for historic vintages.
- Net income dropped to $1.4M ($0.01 EPS) from $3.0M; adjusted EBITDA $7.8M vs $10.3M.
- CEO says results near or above high-end of guidance for certified loans, revenue, adj. EBITDA excl. estimate change.
- Management sees improving auto inventory, retail sales and affordability, but no updated guidance provided.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1806201/000180620124000142/0001806201-24-000142-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1806201/000180620124000142/lpro-20241107.htm
  HTML page:      https://secwatch.observer/filing/0001806201-24-000142

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