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Open Lending Corporation (LPRO)
NASDAQ:LPRO
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Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.02Last Year’s EPS
-$0.04Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: -13.04%
|Next Earnings Date:Feb 20, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted significant achievements in customer acquisition and technological advancements, which are positive signs for future growth. However, these were overshadowed by challenges such as profit share revisions, credit tightening impacting loan volumes, and the continued difficulties faced by core credit union customers. The balance of these factors results in a cautious outlook.Company Guidance
During the Q3 2024 earnings call for Open Lending, CEO Charles Jehl discussed the company's performance and the actions taken to navigate challenging market conditions. The company certified 27,435 loans, generating $23.5 million in total revenue and an adjusted EBITDA of $7.8 million. Their results were affected by a $7 million negative change in estimate related to profit share, primarily due to elevated delinquencies from 2021-2022 vintages. Despite this, Jehl highlighted strategic moves to enhance credit and pricing metrics, such as raising insurance premiums and refining their proprietary scorecard, aimed at improving loan performance. Additionally, Open Lending achieved a record 21 new customer acquisitions in Q3, all credit unions, and emphasized ongoing technology enhancements, including a new partnership with Point Predictive to automate income verification. Looking ahead, the company provided Q4 guidance, projecting 20,000 to 24,000 certified loans, $22 million to $26 million in revenue, and $7 million to $10 million in adjusted EBITDA, considering factors like elevated interest rates and market seasonality.Record New Customer Acquisitions
Open Lending signed 21 new customers in Q3 2024, a record for the company, demonstrating the value of the Lenders Protection program.
Positive Market Trends
Improvement in automotive industry trends, including stabilized inventory levels, increased OEM incentives, and modest year-over-year improvements in retail sales volumes and affordability.
Technological Advancements
Partnership with Point Predictive to automate proof of income verification, aiming to reduce friction at dealerships and potentially increase loan capture rates.
Customer Engagement and Networking
Successful hosting of the annual Executive Lending Roundtable with over 250 attendees, fostering customer engagement and networking.
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LPRO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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LPRO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $6.75 | $5.90 | -12.59% |
| Aug 08, 2024 | $5.47 | $5.50 | +0.55% |
| May 07, 2024 | $5.29 | $5.57 | +5.29% |
| Feb 27, 2024 | $8.02 | $7.33 | -8.60% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Open Lending Corporation (LPRO) report earnings?
Open Lending Corporation (LPRO) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is Open Lending Corporation (LPRO) earnings time?
Open Lending Corporation (LPRO) earnings time is at Feb 20, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is LPRO EPS forecast?
LPRO EPS forecast for the fiscal quarter 2024 (Q4) is $0.02.
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