Quarterly ResultMay 8, 2026, 04:12 PM
Open Lending Q1 Revenue $20.5M, Net Loss $0.5M; Boosts Buyback to $50M
AI Summary
Open Lending Corp reported a total revenue of $20.5 million for the three months ended March 31, 2026, a decrease from $24.4 million in the prior year period. The company recorded a net loss of $0.5 million, compared to a net income of $0.6 million in Q1 2025. In a positive corporate action, the Board of Directors increased the share repurchase program to $50.0 million and extended its expiration to May 1, 2027.
Key Highlights
- Total revenue for Q1 2026 was $20.5 million, down from $24.4 million in Q1 2025.
- Net loss for Q1 2026 was $0.5 million, compared to net income of $0.6 million in Q1 2025.
- Basic net loss per common share was $0.00 for Q1 2026, down from $0.01 in Q1 2025.
- The share repurchase program was increased to $50.0 million and extended to May 1, 2027.
- Certified loans decreased to 21,064 in Q1 2026 from 27,638 in Q1 2025.
- Program fees declined to $11.4 million in Q1 2026 from $15.2 million in Q1 2025.
- Profit share revenue increased to $7.0 million in Q1 2026 from $6.7 million in Q1 2025.
- Cash and cash equivalents were $173.3 million as of March 31, 2026.