Open Lending Q1 revenue falls 20.5% to $24.4M; net income drops to $0.6M

Open Lending Corp

2025-Q1 EPS reported $0.01 revenue$24,393,000

Certified loans 27,638 (-2% YoY); revenue $24.4M vs $30.7M, driven by $7.4M drop in profit share revenue from new originations.
Gross profit $18.3M (vs $25.0M); net income $0.6M (vs $5.1M); adjusted EBITDA $5.7M (vs $12.5M).
Board authorized $25M share repurchase program; CEO announces new loan measures and refined pricing to reduce profit share volatility.
Unit economics per certified loan declined; historic vintage adjustments had a $0.9M reduction vs $1.1M in Q1 2024.

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