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.

Earnings data Q1 2021

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Earnings data Q1 2022

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Earnings data Q3 2023

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Earnings data Q1 2024

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Earnings data Q4 2024

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 lending enablement and risk analytics solutions for financial institutions, has announced the full results of a survey on vehicle accessibility in the U.S. With responses from 1,347 full- and part-time employees, including 597 car owners and 750 non-car owners, the survey examines barriers to car ownership, misperceptions around the lending process, and opportunities for lenders to expand their customer base by reaching those who believe they can't afford a car.

Open Lending Report Reveals Lender Opportunity to Create Loyalty and Empower Underserved Populations through Vehicle Access

AUSTIN, Texas, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Open Lending Corporation (NASDAQ: LPRO) (“Open Lending”), a leading provider of lending enablement and risk analytics solutions for financial institutions, today announced that its board of directors has authorized a repurchase program of up to $75 million of the Company's outstanding common stock, through November 17, 2023 (the “Repurchase Program”).

Open Lending Board of Directors Authorizes $75 Million Share Repurchase Program

AUSTIN, Texas--( BUSINESS WIRE )--Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or “the Company”), an industry trailblazer in lending enablement and analytics solutions for financial institutions, has completed a survey on vehicle accessibility and consumer perception in the U.S. As car prices climb and more Americans return to in-person work environments, the survey's findings shed light on the vehicle affordability crisis, as well as reveal how these barriers impact Americans' quality of life and influence their beliefs about what financial products they can access. The findings also validate lenders' opportunity to prove wrong the consumer perception across all credit segments that automobile loans aren't an accessible option for them.

Open Lending Research Exposes Opportunity for Automobile Lenders

Open Lending Corporation (NASDAQ:LPRO ) Q3 2022 Earnings Conference Call November 3, 2022 5:00 PM ET Company Participants John Flynn - Chairman Keith Jezek - Chief Executive Officer Chuck Jehl - Chief Financial Officer Conference Call Participants David Scharf - JMP Peter Heckmann - D.A. Davidson Faiza Alwy - Deutsche Bank Joseph Vafi - Canaccord Sandy Beatty - Morgan Stanley John Hecht - Jefferies Vincent Caintic - Stephens Spencer James - William Blair John Davis - Raymond James Operator Good afternoon.

Open Lending Corporation (LPRO) Q3 2022 Earnings Call Transcript

Open Lending (LPRO) delivered earnings and revenue surprises of 26.67% and 13.65%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Open Lending (LPRO) Tops Q3 Earnings and Revenue Estimates

AUSTIN, Texas, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Open Lending Corporation (Nasdaq: LPRO) (the “Company” or “Open Lending”), an industry trailblazer in lending enablement and risk analytics solutions to financial institutions, today reported financial results for its third quarter of 2022.

Open Lending Reports Third Quarter 2022 Financial Results

AUSTIN, Texas--(BUSINESS WIRE)--Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or “the Company”), an industry trailblazer in lending enablement and risk analytics solutions for financial institutions, today announced it is partnering with one of the nation's largest credit unions, America First Credit Union (AFCU).

America First Credit Union Affords More Members Access to Vehicle Ownership

AUSTIN, Texas, Oct. 18, 2022 (GLOBE NEWSWIRE) -- Open Lending Corporation (NASDAQ: LPRO) (“Open Lending”), an industry pioneer in lending enablement and risk analytics solutions for financial institutions, announced today that the Company will host a conference call to discuss third quarter 2022 financial results on Thursday, November 3, 2022 at 5:00pm ET. Hosting the call will be John Flynn, Chairman, Keith Jezek, CEO, and Chuck Jehl, CFO. A press release with third quarter 2022 financial results will be issued after the market closes that same day.

Open Lending to Announce Third Quarter 2022 Results on November 3, 2022

Leadership Transition Prepares Open Lending for Next Era of Growth Leadership Transition Prepares Open Lending for Next Era of Growth

Open Lending Appoints Automotive Technology Veteran Keith A. Jezek as CEO

AUSTIN, Texas--(BUSINESS WIRE)--Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or “the Company”), an industry trailblazer in lending enablement and risk analytics solutions for financial institutions, today announced it will provide clients the ability to offer 84-month terms for new and used vehicles up to four years old, with less than 60,000 miles. This is an increase of nine months from its previous maximum term. In addition, Open Lending will now provide its clients the ability to

Open Lending's 84-Month Near and Non-Prime Auto Loans Enable Credit Unions to Meet Rising Auto Prices

AUSTIN, Texas, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or “the Company”), a leading provider of lending enablement and risk analytics solutions to financial institutions, today announced that the Company will be hosting a fireside chat at the Canaccord Genuity 42nd Annual Growth Conference on Wednesday, August 10, 2022, in Boston, MA. The discussion will begin at 2:00pm ET.

Open Lending to Present at Canaccord Genuity 42nd Annual Growth Conference

Open Lending Corporation (NASDAQ:LPRO ) Q2 2022 Earnings Conference Call August 4, 2022 5:00 PM ET Company Participants John Flynn – Chairman and Chief Executive Officer Ross Jessup – President and Chief Operating Officer Chuck Jehl – Chief Financial Officer Conference Call Participants Bob Napoli – William Blair David Scharf – JMP Security Joe Vafi – Canaccord Genuity Pete Heckmann – Davidson Sandy Beatty – Morgan Stanley John Hecht – Jefferies Faiza Alwy – Deutsche Bank Vincent Caintic – Stephens Michael Pochucha – Northland Capital Markets Operator Good afternoon, and welcome to Open Lending's Second Quarter 2022 Earnings Call. [Operator Instructions] As a reminder, today's conference call is being recorded.

Open Lending Corporation's (LPRO) CEO John Flynn on Q2 2022 Results - Earnings Call Transcript

AUSTIN, Texas, Aug. 04, 2022 (GLOBE NEWSWIRE) -- Open Lending Corporation (Nasdaq: LPRO) (the “Company” or “Open Lending”), a leading provider of lending enablement and risk analytics solutions to financial institutions, today reported financial results for its second quarter of 2022.

Open Lending Reports Second Quarter 2022 Financial Results

Open Lending (LPRO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Analysts Estimate Open Lending (LPRO) to Report a Decline in Earnings: What to Look Out for

AUSTIN, Texas, July 12, 2022 (GLOBE NEWSWIRE) -- Open Lending Corporation (NASDAQ: LPRO) (“Open Lending”), a leading provider of lending enablement and risk analytics solutions to financial institutions, today announced that the Company will host a conference call to discuss second quarter 2022 financial results on Thursday, August 4, 2022 at 5:00pm ET. Hosting the call will be John Flynn, Chairman and CEO, Ross Jessup, President and COO, and Chuck Jehl, CFO. A press release with second quarter 2022 financial results will be issued after the market closes that same day.

Open Lending to Announce Second Quarter 2022 Results on August 4, 2022

Open Lending Corporation (NASDAQ:LPRO ) Q1 2022 Earnings Conference Call May 5, 2022 5:00 PM ET Company Participants John Flynn – Chairman and Chief Executive Officer Ross Jessup – President and Chief Operating Officer Chuck Jehl – Chief Financial Officer Conference Call Participants Peter Heckmann – D.A. Davidson Joseph Vafi – Canaccord Spencer James – William Blair Vincent Caintic – Stephens John Davis – Raymond James Faiza Alwy – Deutsche Bank Mike Grondahl – Northland Securities John Hecht – Jefferies Operator Good afternoon, and welcome to Open Lending's First Quarter 2022 Earnings Call.

Open Lending's (LPRO) CEO John Flynn on Q1 2022 Results - Earnings Call Transcript

Open Lending (LPRO) delivered earnings and revenue surprises of 5.88% and 7.70%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?

Open Lending (LPRO) Surpasses Q1 Earnings and Revenue Estimates

Arch Insurance will be the Company's Fourth Insurance Carrier Partner Arch Insurance will be the Company's Fourth Insurance Carrier Partner

Open Lending Signs Agreement with Arch Specialty Insurance Company

Open Lending (LPRO) Earnings Expected to Grow: What to Know Ahead of Next Week's Release

Open Lending Corporation provides lending enablement and risk analytics to credit unions, regional banks, and non-bank auto finance companies. The company's revenues more than doubled in the past year and are set for continued growth in 2022.

Open Lending: Steady And Secure Growth

AUSTIN, Texas, April 25, 2022 (GLOBE NEWSWIRE) -- Open Lending Corporation (NASDAQ: LPRO) (“Open Lending”), a leading provider of lending enablement and risk analytics solutions to financial institutions, today announced that the Company will host a conference call to discuss first quarter 2022 financial results on Thursday, May 5, 2022 at 5:00pm ET. Hosting the call will be John Flynn, Chairman and CEO, Ross Jessup, President and COO, and Chuck Jehl, CFO. A press release with first quarter 2022 financial results will be issued after the market closes that same day.

Open Lending to Announce First Quarter 2022 Results on May 5, 2022

Open Lending Corporation (LPRO) CEO John Flynn on Q4 2021 Results - Earnings Call Transcript

The company reported earnings results for the fourth quarter and full year of 2021.

Why Shares of Open Lending Corp Are Surging Today

Open Lending (LPRO) delivered earnings and revenue surprises of 53.33% and 22.25%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?

News for Open Lending Corp Stock (LPRO)