NASDAQ$LPRO
Open Lending Corporation · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Open Lending reported a record quarter with significant increases in certified loans, revenue, and Adjusted EBITDA compared to Q3 2020.
Open Lending reported a strong third quarter in 2021, marked by a 138% increase in certified loans, a 98% increase in revenue, and a 113% increase in Adjusted EBITDA compared to the third quarter of 2020. The company added 16 new accounts, including four tier one accounts, and experienced substantial growth in their OEM segment.
- Certified loans increased by 138% compared to Q3 2020, reaching 49,332 loans.
- Total revenue grew by 98% to $58.9 million compared to $29.8 million in Q3 2020.
- Net income was $29.4 million, a significant turnaround from a net loss of $(71.1) million in Q3 2020.
- Adjusted EBITDA increased by 113% to $42.1 million compared to $19.8 million in Q3 2020.
Headline financials
Revenue & EPS history
Open Lending · Revenue · Quarterly
$58.9M
Revenue by segment
Open Lending · $58.9M total across 3 segments · Q3 2021
- Profit Share$35.4M+91.2%60.2%
- Program Fees$21.6M+114.5%36.7%
- Claims Admin & Other Service Fees$1.81M+59.8%3.1%
Forward guidance
Open Lending narrowed its previous guidance ranges for the full year 2021, expressing confidence in the business's resilience despite inflated car values and semiconductor chip shortages.
Tailwinds
- Total Certified Loans: 165,000 - 174,000
- Total Revenue: $200 - $212 million
- Adjusted EBITDA: $140 - $150 million
- Adjusted Operating Cash Flow: $110 - $125 million
- Company is still within the guidance ranges provided 18 months ago, which demonstrates the predictability of our business model
Headwinds
- Guidance includes forward-looking statements withing the meaning of U.S. securities laws
- Financial guidance takes into account the continuing impact of the global COVID-19 pandemic
- The impact of the pandemic has been unprecedented and the future effect of the pandemic on the global economy and our financial results remains uncertain
- Actual results may differ materially
- Forward-looking statements are subject to a number of risks and uncertainties, including general economic, political and business conditions
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2021
-0.6%
Avg return
Earnings day
+0.8%
Avg return
5 days after
+5.8%
Avg return
30 days after
54%
15 / 28 earnings
Positive
+26.7%
Q1 2023
Best reaction
-57.6%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +18.7% | +15.6% | +31.9% | |
| Q4 2025 | +19.2% | +19.0% | +19.8% | |
| Q3 2025 | -8.9% | +3.1% | +13.7% | |
| Q1 2025 | +19.2% | +29.0% | +29.7% | |
| Q4 2024 | -57.6% | -63.0% | -53.6% | |
| Q3 2024 | -12.5% | -6.5% | -13.1% | |
| Q2 2024 | -0.2% | -4.4% | -1.6% | |
| Q1 2024 | +6.3% | +12.6% | +32.6% | |
| Q4 2023 | -7.8% | -11.3% | -21.3% | |
| Q3 2023 | -7.6% | -10.1% | +5.5% | |
| Q2 2023 | -23.8% | -20.9% | -22.1% | |
| Q1 2023 | +26.7% | +27.8% | +44.8% | |
| Q4 2022 | -21.2% | -16.0% | -14.5% | |
| Q3 2022 | +0.7% | -5.7% | +4.4% | |
| Q2 2022 | -0.6% | -1.2% | -14.5% | |
| Q1 2022 | -7.4% | -17.9% | -13.7% | |
| Q4 2021 | +21.6% | +26.0% | +20.6% | |
| Q3 2021 | -17.4% | -11.3% | -33.3% | |
| Q2 2021 | +1.2% | -8.9% | +6.9% | |
| Q1 2021 | -1.9% | +0.7% | +8.5% | |
| Q4 2020 | +11.9% | +21.7% | +16.1% | |
| Q3 2019 | +2.0% | +1.8% | +11.9% | |
| Q3 2020 | +2.8% | +7.9% | +19.9% | |
| Q4 2019 | +5.3% | +8.7% | +16.7% | |
| Q2 2019 | +5.3% | +8.7% | +16.7% | |
| Q1 2020 | +5.3% | +8.7% | +16.7% | |
| Q1 2019 | +5.3% | +8.7% | +16.7% | |
| Q2 2020 | -2.4% | +0.3% | +16.4% |
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