Open Lending Corp

Open Lending Corp. provides lending enablement and risk analytics to credit unions, regional banks and the captive finance companies of original equipment manufacturers (OEM Captives). It specializes in risk-based pricing and modeling and provides automated decision-technology for automotive lenders throughout the United States. The firm addresses the financing needs of near-prime and non-prime borrowers, or borrowers with a credit score who are underserved in the automotive finance industry. The company was founded by John J. Flynn, Sandy Watkins and Ross M. Jessup in 2000 and is headquartered in Austin, TX.

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Open Lending Corp reports revenue decline in 2022, eyes growth

Open Lending Corp faced revenue decline in 2022 but anticipates growth with a focus on refining sales channels and enhancing technology offerings in 2023.
Strong partnerships with insurance companies and quick underwriting decisions provide competitive advantages for the company.
Challenges in the automotive industry and margin pressures persist, but opportunities lie in market penetration, application volumes, and revenue growth strategies.
With a solid financial foundation, Open Lending Corp is poised for growth and remains optimistic about its position in the automotive retail industry.

Open Lending Corp surpasses Q1 expectations amidst industry challenges

Open Lending Corp's Q1 performance exceeded expectations despite challenges, with a focus on resilience and strategic investments. The company faces challenges from increased auto loan delinquencies and concentration risk from credit unions. Opportunities lie in market recovery, new auto market growth, and talent acquisition.

Open Lending Corp surpasses Q2 expectations amidst industry challenges

Open Lending Corp navigated challenges in the auto industry and credit union space by exceeding Q2 guidance and making strategic investments. The company's focus on pricing risk appropriately and preserving profit share unit economics positions it well for future growth.

Open Lending Corp (LPRO) exceeds Q3 guidance amidst market challenges

Open Lending Corp (LPRO) demonstrated resilience and strong financial performance in Q3 2023, exceeding guidance despite market challenges.
Strategic investments in product enhancements and technology have bolstered the company's ability to attract new customers and drive growth.
Analysts raised questions about the profit share change in estimate, underwriting impact, sales productivity, OEM demand, and share repurchases.

Open Lending Corp surpasses Q4 expectations, eyes growth in 2024

Open Lending Corp's Q4 performance exceeded expectations, with a focus on larger accounts and innovation in lenders protection.
While facing market challenges, the company remains optimistic about 2024, anticipating stabilization and growth opportunities.
With a strong position in the auto loan market and a unique solution for thin file borrowers, Open Lending is poised for continued success and expansion.

Open Lending Corp (LPRO) surpasses Q1 expectations, eyes new markets

Open Lending Corp (LPRO) delivered strong Q1 2024 results, focusing on growth strategies and risk management. Challenges in lending capacity for credit union customers highlighted.

Open Lending Corp reports strong Q3 performance amidst profit challenges

Open Lending Corp's Q3 2024 performance showcased growth in certified loans and revenue despite profit share challenges.
The company's focus on new customer acquisitions, credit tightening, and strategic changes position it for future success.
Addressing market challenges, stabilizing profit share, and leveraging growth opportunities are key priorities for Open Lending.

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AUSTIN, Texas--(BUSINESS WIRE)--Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, today announced the winners of their inaugural Economic Vehicle Accessibility Awards (“EVAAs”). The winning banks and credit unions are Open Lending partners that are driving vehicle access through financing opportunities for creditworthy near- and non-prime borrowers. “Many de.

Open Lending Reveals Winners of the Inaugural Economic Vehicle Accessibility Awards

AUSTIN, Texas--(BUSINESS WIRE)--Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, has released its 2024 Vehicle Accessibility Report. This report illustrates how traditional underwriting practices have alienated and excluded many creditworthy near- and non-prime consumers, providing insights to help automotive lenders offer reasonable loan opportunities to b.

Open Lending Releases 2024 Vehicle Accessibility Report to Provide Insights on the Near- and Non-Prime Credit Segment

While the top- and bottom-line numbers for Open Lending (LPRO) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Open Lending (LPRO) Reports Q4 Earnings: What Key Metrics Have to Say

Open Lending Corporation (LPRO) Q4 2023 Earnings Call Transcript

Open Lending (LPRO) came out with a quarterly loss of $0.04 per share versus the Zacks Consensus Estimate of $0.05. This compares to loss of $0.03 per share a year ago.

Open Lending (LPRO) Reports Q4 Loss, Misses Revenue Estimates

AUSTIN, Texas, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Open Lending Corporation (Nasdaq: LPRO) (the “Company” or “Open Lending”), an industry trailblazer in lending enablement and risk analytics solutions for financial institutions, today reported financial results for its fourth quarter and full year ended December 31, 2023.

Open Lending Reports Fourth Quarter and Full Year 2023 Financial Results

AUSTIN, Texas--(BUSINESS WIRE)--Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, today released data on automotive financing access for consumers with an Individual Taxpayer Identification Number (“ITIN”), a federal tax identification number that can be used to access financial services. Nonresident and resident aliens, regardless of immigration status, are.

Lending Enablement Solutions Create a Path to Auto Ownership for ITIN Holders, Open Lending Analysis Shows

AUSTIN, Texas--(BUSINESS WIRE)--Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, today announced a partnership with innovative insurance pricing solution provider Akur8 to complement its proprietary Lenders Protection™ platform. Akur8's ability to produce fast and accurate predictive insurance pricing models will build upon Open Lending's existing risk mode.

Open Lending Partners with Akur8 to Enhance Predictive Lending Model

AUSTIN, Texas, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or “the Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, today announced that the Company will host a conference call to discuss fourth quarter and full year 2023 financial results on Tuesday, February 27, 2024 at 5:00pm ET. A press release with fourth quarter and full year 2023 financial results will be issued after the market closes that same day.

Open Lending to Announce Fourth Quarter and Full Year 2023 Results on February 27, 2024

AUSTIN, Texas--(BUSINESS WIRE)--Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, has launched a partner integration with Automatic, a platform that connects automotive lenders with independent, used vehicle dealerships. The partnership will help Lenders Protection™ users to grow their indirect lending relationships by delivering instant, accurate decisions.

Open Lending Partners with Automatic to Expand Indirect Lending Opportunities

AUSTIN, Texas--(BUSINESS WIRE)--Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, has launched a partner integration with CreditSnap, a fintech platform that allows financial institutions to deliver lending and deposit account automation using pre-qualification technology, application programming interface (“API”) integrations and more. CreditSnap's platform.

Open Lending Partners with CreditSnap to Help Lenders Deliver Informed Decisions, Navigate Refinance Needs

AUSTIN, Texas--(BUSINESS WIRE)--Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, has completed a study on vehicle accessibility and automotive financing perceptions among near- and non-prime consumers. As high interest rates and vehicle prices create affordability barriers, the findings show how lower-credit consumers approach car ownership and manage debt,.

Open Lending Research Uncovers Near- and Non-Prime Consumers' Automotive Financing Hopes and Doubts

Lending enablement provider shares data and insights on the fulfillment of its mission to change lives by making transportation more affordable Lending enablement provider shares data and insights on the fulfillment of its mission to change lives by making transportation more affordable

Open Lending Publishes Inaugural ESG Report

AUSTIN, Texas--(BUSINESS WIRE)--Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, today released its first Near- and Non-Prime Consumer Update, a quarterly proprietary data report on automotive lending trends in the near- and non-prime credit segments. Using data on new and used vehicle loan originations, interest rates, sales and more, the report illustrate.

Near- and Non-Prime Consumers Face Shrinking Access to Automotive Financing in 2023, Open Lending Research Finds

AUSTIN, Texas--(BUSINESS WIRE)--Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or “the Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, has been selected as a winner of the 2023 NAFCU Innovation Award for its enhanced Lenders Protection™ scorecard. The awards program recognizes companies making the most valuable and innovative contributions to credit union success, including groundbreaking advancements in techn.

Open Lending Named Winner of 2023 NAFCU Innovation Award

AUSTIN, Texas--(BUSINESS WIRE)--Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, today announced it has joined the Credit Union National Association (CUNA) as an Associate Business Member. “At Open Lending, we fully support the credit union industry's mission to provide opportunities to consumers underserved by traditional financial institutions,” Kevin Fil.

Open Lending Joins CUNA as Associate Business Member to Champion the Credit Union Movement and Near-Prime Consumers

Open Lending Corporation (NASDAQ:LPRO ) Q3 2023 Earnings Call November 7, 2023 5:00 PM ET Company Participants Keith A. Jezek - Chief Executive Officer Charles D.

Open Lending Corporation (LPRO) Q3 2023 Earnings Call Transcript

AUSTIN, Texas, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Open Lending Corporation (Nasdaq: LPRO) (the “Company” or “Open Lending”), an industry trailblazer in lending enablement and risk analytics solutions for financial institutions, today reported financial results for its third quarter of 2023.

Open Lending Reports Third Quarter 2023 Financial Results

AUSTIN, Texas--(BUSINESS WIRE)--Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, today announced its recognition as a finalist for the 2023 NAFCU Innovation Award for its enhanced Lenders Protection™ program. Announced last week, the addition of new alternative data attributes more accurately identifies the risk profiles of more credit-worthy applicants alo.

Open Lending Named Finalist for 2023 NAFCU Innovation Award

AUSTIN, Texas--(BUSINESS WIRE)--Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or “the Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, today released the addition of new alternative data attributes for auto loan applicants to more accurately inform the risk score generated by its Lenders Protection™ solution. Access to expanded criteria from TransUnion and LexisNexis allows Lenders Protection to analyze more r.

Open Lending Expands Auto Lending Inclusivity with Improved Loan Decisioning Accuracy as Vehicle Costs Soar

AUSTIN, Texas, Oct. 24, 2023 (GLOBE NEWSWIRE) -- Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or “the Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, today announced that the Company will host a conference call to discuss third quarter 2023 financial results on Tuesday, November 7, 2023 at 5:00pm ET. A press release with third quarter 2023 financial results will be issued after the market closes that same day.

Open Lending to Announce Third Quarter 2023 Results on November 7, 2023

AUSTIN, Texas--(BUSINESS WIRE)--Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or “the Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, today announced its nomination as a finalist for the 2023 Credit Union Times LUMINARIES awards in the Product Innovation category. “We are proud of the dedicated partnerships we've developed with credit unions throughout the country to enhance vehicle accessibility, particularl.

Open Lending Named Finalist for 2023 CU Times LUMINARIES Awards

AUSTIN, Texas--(BUSINESS WIRE)--Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or “the Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, today announced the launch of the Open Lending Economic Vehicle Accessibility Awards (EVAAs). The new awards program recognizes Open Lending partners who are paving the way for equitable vehicle accessibility by extending loans to deserving, yet often overlooked, near-prime and.

Open Lending Launches Awards Program to Honor Vehicle Accessibility Pioneers

AUSTIN, Texas--(BUSINESS WIRE)--Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, today announced Chief Technology Officer Sarah Lackey has been elected to the Forbes Technology Council, an invitation-only community for CIOs, CTOs, and technology executives. As a member of the Council, Lackey will provide insights on the evolving role of technology in automo.

Open Lending Chief Technology Officer Sarah Lackey Joins Forbes Technology Council

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