---
schema_version: "secwatch.filing_event.v1"
accession: "0001806201-25-000055"
form_type: "8-K"
ticker: "LPRO"
cik: "0001806201"
company_name: "Open Lending Corp"
filed_at: "2025-05-07T23:59:59+00:00"
generated_at: "2026-05-22T08:42:34.179314+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001806201-25-000055
- form_type: 8-K
- ticker: LPRO
- cik: 0001806201
- company_name: Open Lending Corp
- filed_at: 2025-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1806201/000180620125000055/0001806201-25-000055-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1806201/000180620125000055/lpro-20250507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001806201-25-000055
- JSON: https://secwatch.observer/filing/0001806201-25-000055.json
- Plain text: https://secwatch.observer/filing/0001806201-25-000055.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.