Open Lending Corporation reported its financial results for the second quarter and first half of 2025, revealing a decline in both revenue and profitability compared to the same periods in 2024. For the three months ended June 30, 2025, the company generated total revenue of $25.3 million, a decrease of 5% from $26.7 million in the prior year. The decline was primarily driven by a 15% drop in profit share revenue, which fell to $8.0 million from $9.3 million. Net income for the quarter was $1.0 million, down from $2.9 million in the same quarter last year, resulting in a basic net income per share of $0.01, compared to $0.02 in 2024.
In the first half of 2025, Open Lending's total revenue decreased by 14% to $49.7 million, down from $57.5 million in the first half of 2024. The decrease was attributed to a significant drop in profit share revenue, which fell by 37% to $14.7 million, alongside a slight increase in program fees. Operating income also saw a substantial decline, dropping to $1.9 million from $11.3 million in the previous year, reflecting an operating margin of 4% compared to 20% in 2024.
Operationally, Open Lending facilitated 26,522 certified loans in the second quarter of 2025, an 8% decrease from 28,963 loans in the same quarter of 2024. The total value of insured loans facilitated was $783.3 million, down from $819.3 million year-over-year. The company reported a total of 449 active lenders at the end of the quarter, an increase from 446 in the previous year, indicating a stable customer base despite the decline in loan volume.
Strategically, Open Lending initiated a share repurchase program on May 1, 2025, allowing for the repurchase of up to $25 million of its common stock. During the second quarter, the company repurchased approximately 1.97 million shares at an average price of $2.00 per share, totaling $4.0 million. The company also extended its producer agreement with AmTrust North America, enhancing its partnerships in the insurance sector. Looking ahead, Open Lending anticipates that macroeconomic conditions, including consumer spending and interest rates, will continue to influence its performance, and it remains focused on expanding its lender relationships and enhancing its product offerings.
About Open Lending Corp
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.