Quarterly ResultMay 7, 2026, 04:24 PM
Open Lending Q1 Net Loss $0.5M; Revenue $20.5M
AI Summary
Open Lending Corporation reported a net loss of $0.5 million on total revenue of $20.5 million for Q1 2026, compared to net income of $0.6 million and revenue of $24.4 million in Q1 2025. The company facilitated 21,064 certified loans, a decrease from 27,638 in the prior year. Despite the decline in certified loans and revenue, the company exceeded its certified loan guidance and improved the quality and mix of its loan portfolio. The Board also extended and increased the share repurchase program to $50.0 million.
Key Highlights
- Net loss was $0.5 million in Q1 2026, compared to net income of $0.6 million in Q1 2025.
- Total revenue decreased to $20.5 million in Q1 2026 from $24.4 million in Q1 2025.
- Adjusted EBITDA was $2.0 million in Q1 2026, down from $3.2 million in Q1 2025.
- Facilitated 21,064 certified loans in Q1 2026, a decrease from 27,638 in Q1 2025.
- Share repurchase program increased to $50.0 million and extended to May 1, 2027.
- Q2 2026 certified loan guidance is 22,000 to 25,000.
- Full year 2026 Adjusted EBITDA guidance is $25 million to $29 million.
- Credit unions and banks represented 90.2% of certified loans in Q1 2026.