Kar Auction Services ( (KAR) ) has released its Q4 earnings. Here is a breakdown of the information Kar Auction Services presented to its investors.
OPENLANE, Inc., operating under the NYSE ticker KAR, is a prominent player in the global wholesale used vehicle industry, offering technology-driven remarketing solutions that streamline transactions for buyers and sellers worldwide. Headquartered in Carmel, Indiana, the company provides an integrated platform supporting car sales, financing, logistics, and related services.
OPENLANE’s latest earnings report indicates strong financial performance for the fourth quarter and the full year of 2024, driven by its marketplace business. The company reported a 15% growth in dealer volumes and a 30% increase in Adjusted EBITDA for the Marketplace segment, reflecting robust customer engagement and the effectiveness of its digital, asset-light model.
Key financial highlights include a 9% year-over-year growth in total marketplace volume, with consolidated revenue reaching $455 million for the fourth quarter, marking a 12% increase. For the full year, revenue grew by 5% to $1,789 million, while the company’s Adjusted EBITDA rose by 8% to $293 million. Additionally, the company’s Gross Merchandise Value (GMV) increased by 12%, reaching approximately $27 billion.
OPENLANE’s strategic focus on innovation and financial discipline has resulted in increased revenue and reduced costs. The company remains committed to investing in its marketplace to drive further growth, leveraging its high-performing finance business.
Looking ahead, OPENLANE projects continued growth with 2025 guidance indicating expected income from continuing operations between $100 million and $114 million, and Adjusted EBITDA ranging from $290 million to $310 million. The company’s management is optimistic about maintaining its growth trajectory by focusing on delivering superior marketplace technology and customer experience.