OPENLANE, Inc.

OPENLANE, Inc. announced that its Board of Directors increased its size to ten members and elected David Hult as a new director, effective June 12, 2026. Mr. Hult, aged 60, brings extensive automotive retail experience, currently serving as Executive Chairman of Asbury Automotive Group. His appointment is for a term expiring at the 2027 annual meeting, and he will receive standard director compensation.

OPENLANE, Inc. announced the filing of a Certificate of Elimination with the Delaware Secretary of State on May 29, 2026. This action formally eliminated the Certificate of Designations pertaining to the Company's Series A Convertible Preferred Stock. As a result, all provisions related to the Series A Preferred Stock have been removed from the Company's Amended and Restated Certificate of Incorporation.

OPENLANE, Inc. reported strong financial results for the first quarter ended March 31, 2026. Total operating revenues increased by 14.7% to $527.9 million, while net income rose 32.5% to $48.9 million. Net income attributable to common stockholders saw a significant 93.8% increase to $37.6 million, leading to diluted earnings per share of $0.35, up from $0.18 in the prior year. The company also repurchased $25.7 million of common stock during the quarter and reclassified certain revenue categories to better reflect its digital marketplace business profile.

OPENLANE, Inc. reported strong first-quarter 2026 financial results, with revenue increasing 15% year-over-year to $528 million and net income growing 33% to $49 million. Adjusted EBITDA also saw a 17% increase to $97 million, driven by robust performance in its Marketplace business. Following these results, the company raised its full-year 2026 guidance for net income, Adjusted EBITDA, and diluted EPS, reflecting confidence in its strategy and market share gains.