Open Lending Corp
NASDAQ:LPRO
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Open Lending Corp
Open Lending Corp. provides lending enablement and risk analytics to credit unions, regional banks and the captive finance companies of original equipment manufacturers (OEM Captives). The company is headquartered in Austin, Texas and currently employs 132 full-time employees. The company went IPO on 2018-03-02. The firm provides lending enablement and risk analytics to credit unions, regional banks, and the captive finance companies of original equipment manufacturer (OEM). The company also operates as a third-party administrator that adjudicates insurance claims and premium adjustments on those automotive loans. Its Lenders Protection Program (LPP) is an automotive lending program designed to underwrite default insurance on loans made to near-prime and non-prime borrowers. LPP uses risk-based pricing models combined with loan default insurance provided by third-party insurers. LPP enables automotive lenders to assess the credit risk of a potential borrower using data driven analysis, enabling the lender to generate an all-inclusive, insured, interest rate for a loan for the borrower. The company caters to 396 lenders.
Open Lending Corp. provides lending enablement and risk analytics to credit unions, regional banks and the captive finance companies of original equipment manufacturers (OEM Captives). The company is headquartered in Austin, Texas and currently employs 132 full-time employees. The company went IPO on 2018-03-02. The firm provides lending enablement and risk analytics to credit unions, regional banks, and the captive finance companies of original equipment manufacturer (OEM). The company also operates as a third-party administrator that adjudicates insurance claims and premium adjustments on those automotive loans. Its Lenders Protection Program (LPP) is an automotive lending program designed to underwrite default insurance on loans made to near-prime and non-prime borrowers. LPP uses risk-based pricing models combined with loan default insurance provided by third-party insurers. LPP enables automotive lenders to assess the credit risk of a potential borrower using data driven analysis, enabling the lender to generate an all-inclusive, insured, interest rate for a loan for the borrower. The company caters to 396 lenders.
Revenue Growth: Total revenue for Q3 2025 was $24.2 million, up 3% from the prior year.
Loan Volumes: 23,880 certified loans were facilitated, down from 27,435 in Q3 2024, reflecting deliberate tightening of lending standards.
New Product Launch: Open Lending launched ApexOne Auto, a subscription-based automated decisioning platform targeting the prime auto lending segment.
Profitability Measures: The company delivered three consecutive quarters of positive adjusted EBITDA and continued to reduce volatility in profit share economics.
Cost Reductions: Operating expenses increased due to a $11 million one-time payment to Allied, but underlying costs were flat year-over-year and over $2.5 million in annual savings are expected from 2027.
Guidance: Q4 certified loans are expected to be between 21,500 and 23,500.
Outlook: Management expressed confidence in renewed growth for 2026, citing improved underwriting, new products, and strong client retention.
