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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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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Westerra CU partners with Open Lending to help serve the underserved Westerra CU partners with Open Lending to help serve the underserved

Open Lending Signs Westerra Credit Union to the Lenders Protection™ Program

Open Lending Corporation (LPRO) CEO John Flynn on Q1 2021 Results - Earnings Call Transcript

AUSTIN, Texas, May 11, 2021 (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 first quarter of 2021.

Open Lending Reports First Quarter 2021 Financial Results

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AUSTIN, Texas, April 29, 2021 (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 2021 financial results on Tuesday, May 11, 2021 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 2021 financial results will be issued after the market closes that same day.

Open Lending to Announce First Quarter 2021 Results on May 11, 2021

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The company upsized its secondary offering to 9 million shares.

Why Shares of Open Lending Are Rising Today

AUSTIN, Texas, April 01, 2021 (GLOBE NEWSWIRE) -- Open Lending Corporation, (“Open Lending”) (Nasdaq: LPRO), a leading provider of lending enablement and risk analytics solutions to financial institutions, announced today the pricing of a secondary public offering of 9,000,000 shares of its common stock at a public offering price of $34.00 per share. The offering was upsized from the previously announced offering size of 7,500,000 shares. All shares are being sold by existing stockholders, including Nebula Holdings, LLC., a True Wind Capital, L.P. managed entity, Bregal Sagemount and certain executive officers of Open Lending. The selling stockholders have also granted the underwriters a 30-day option to purchase up to 1,350,000 additional shares of common stock. Open Lending is not selling any shares and will not receive any of the proceeds of the offering. The offering is expected to close on April 6, 2021, subject to customary closing conditions.

Open Lending Corporation Announces Pricing of Upsized Secondary Offering

AUSTIN, Texas, March 29, 2021 (GLOBE NEWSWIRE) -- Open Lending Corporation, (“Open Lending”) (Nasdaq: LPRO), a leading provider of lending enablement and risk analytics solutions to financial institutions, announced today the launch of a secondary public offering of 7,500,000 shares of its common stock. The selling stockholders have also granted the underwriters a 30-day option to purchase up to 1,125,000 additional shares of common stock. All shares are being sold by existing stockholders, including Nebula Holdings, LLC., a True Wind Capital, L.P. managed entity, Bregal Sagemount and certain executive officers of Open Lending. Open Lending is not selling any shares and will not receive any of the proceeds of the offering.

Open Lending Corporation Announces Launch of Secondary Offering and Share Repurchase

Noble FCU partners with Open Lending to serve more members Noble FCU partners with Open Lending to serve more members

Open Lending Signs Noble Federal Credit Union to the Lenders Protection™ Program

Open Lending Corporation (LPRO) CEO John Flynn on Q4 2020 Results - Earnings Call Transcript

AUSTIN, Texas, March 09, 2021 (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 fourth quarter and fiscal year 2020.

Open Lending Reports Fourth Quarter and Fiscal Year 2020 Financial Results

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AUSTIN, Texas, Feb. 10, 2021 (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 fourth quarter 2020 financial results on Tuesday, March 9, 2021 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 fourth quarter 2020 financial results will be issued after the market closes that same day.

Open Lending to Announce Fourth Quarter 2020 Results on March 9, 2021

Open Lending (LPRO) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

Why Earnings Season Could Be Great for Open Lending (LPRO)

Royal CU partners with Open Lending to grow their auto loan portfolio Royal CU partners with Open Lending to grow their auto loan portfolio

Open Lending Signs Royal Credit Union to the Lenders Protection™ Program

AUSTIN, Texas, Jan. 04, 2021 (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 be participating in a fireside chat at the Goldman Sachs Technology and Internet Conference on Tuesday, January 12, 2021. The discussion will begin at 12:10pm ET and can be accessed by visiting the Company's investor relations website at https://investors.openlending.com/ under the “Events” section.

Open Lending to Present at the Goldman Sachs Technology and Internet Conference

Interra CU partners with Open Lending to meet more members' auto loan needs Interra CU partners with Open Lending to meet more members' auto loan needs

Open Lending Signs Interra Credit Union to the Lenders Protection™ Program

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Members 1st FCU partners with Open Lending to expand auto loan offerings to more members Members 1st FCU partners with Open Lending to expand auto loan offerings to more members

Open Lending Signs Members 1st Federal Credit Union to the Lenders Protection™ Program

OE Federal Credit Union of California signs with Open Lending OE Federal Credit Union of California signs with Open Lending

Open Lending Signs OE Federal Credit Union to Lenders Protection™ Program

Favorable economics given solid value proposition for lenders and insurers. Its proprietary risk-based pricing model based on 15+ years of proprietary data and integrated cloud platform are a moat. Revenues expected to more than double in 2021 via increased penetration and potential rebound in auto originations post-Pandemic.

Open Lending: Start Your Engines For The Leading Cloud Auto Lending Platform

AUSTIN, Texas, Nov. 16, 2020 (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 be participating in a fireside chat at the Stephens Virtual Investment Conference on Tuesday, November 17, 2020. The discussion will begin at 11:00am ET and can be accessed by visiting the Company's investor relations website at https://investors.openlending.com/ under the “Events” section.

Open Lending to Present at the Stephens Virtual Investment Conference

Open Lending's (LPRO) CEO John Flynn on Q3 2020 Results - Earnings Call Transcript

The Company Announces that OEM #2 Came Back Online in October as Planned The Company Announces that OEM #2 Came Back Online in October as Planned

News for Open Lending Corp Stock (LPRO)