secwatch.observer — SEC 8-K summary
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Issuer:     Open Lending Corp (LPRO)
CIK:        0001806201
Form:       8-K
Filed at:   2026-05-07T23:59:59+00:00
Accession:  0001806201-26-000036
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02
LLM model:  deepseek-v4-flash:cloud@v2

Open Lending Q1 net loss $0.5M; certified loans drop 24% YoY to 21,064
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- Total revenue $20.5M (down 16% YoY); gross profit $15.6M.
- Net loss $0.5M vs net income $0.6M in prior year; adjusted EBITDA $2.0M.
- Certified loans 21,064 (down 24% YoY) but CEO says exceeded high end of guidance.
- Profit share revenue reduced by $0.7M from historic vintage adjustments.
- Strategic initiatives Project Red Rocks and ApexOne Auto progressing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1806201/000180620126000036/0001806201-26-000036-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1806201/000180620126000036/lpro-20260507.htm
  HTML page:      https://secwatch.observer/filing/0001806201-26-000036

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