CARMEL, Ind., April 16, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its first quarter 2024 financial results after the market closes on Wednesday, May 1, 2024. OPENLANE will also host an earnings conference call and webcast following the release on Wednesday, May 1, 2024, at 4:30 p.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. The conference call ...

OPENLANE, Inc. (NYSE:KAR) Q4 2023 Earnings Conference Call February 20, 2024 5:00 PM ET Company Participants Michael Eliason - Treasurer and VP, IR Peter Kelly - CEO Brad Lakhia - EVP and CFO Conference Call Participants Rajat Gupta - JPMorgan Craig Kennison - Baird John Murphy - Bank of America Merrill Lynch Gary Prestopino - Barrington Research Pete Lukas - CJS Securities Daniel Imbro - Stephens Bret Jordan - Jefferies Operator Good day, and welcome to OPENLANE's 2023 Year End Earnings Call. All participa ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 11299 N. Illinois Street, Carmel, Indiana 46032 (Address of principal executive offices, including zip code) Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-34568 OPENLANE, Inc. (Exact name of Registrant as ...

OPENLANE, Inc. (NYSE:KAR) Q3 2023 Earnings Conference Call November 1, 2023 5:00 PM ET Company Participants Michael Eliason - Treasurer and VP, IR Peter Kelly - CEO Brad Lakhia - EVP and CFO Conference Call Participants Craig Kennison - Baird Gary Prestopino - Barrington Research Lee Jagoda - CJS Securities Bret Jordan - Jefferies Rajat Gupta - JPMorgan Daniel Imbro - Stephens Operator Good day, and welcome to the OPENLANE Third Quarter 2023 Earnings Conference Call. [Operator Instructions] Please note toda ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-34568 OPENLANE, Inc. (Exact name of Registrant as specified in its charter) Indicate by check mark whether the registrant is a large accelerated filer ...

OPENLANE, Inc. (NYSE:KAR) Q2 2023 Earnings Conference Call August 3, 2023 8:30 AM ET Company Participants Mike Eliason - Treasurer and VP, IR Peter Kelly - CEO Brad Lakhia - EVP and CFO Conference Call Participants Rajat Gupta - JPMorgan John Murphy - Bank of America Bob Labick - CJS Securities Bret Jordan - Jefferies Daniel Imbro - Stephens Operator Good morning, and welcome to the OPENLANE Second Quarter 2023 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] P ...

| --- | --- | --- | |----------------------------------------------------------|-------|-------| | | | | | | | | | | | | | Second Quarter 2023 Earnings Slides // August 2, 2023 | | | | | | | This presentation includes forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management's current expectations, are not guarantees of future performance and are subject to certain risks, trends, and uncertainties that ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-34568 OPENLANE, Inc. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer ...

Financial Data and Key Metrics Changes - The company generated approximately $421 million in revenue for Q1, a 14% increase compared to the same quarter last year [52] - Adjusted EBITDA was $59 million, representing a 20% increase year-on-year, but included an $11 million one-time charge; excluding this charge, adjusted EBITDA would have been $70 million, a 42% increase [61] - Total gross profit was $196 million, a 24% increase from Q1 of the prior year, with gross profit representing 54% of revenue excluding purchased vehicles [92] Business Line Data and Key Metrics Changes - Marketplace revenues, excluding purchased vehicle sales, increased 11% to $266 million, accounting for approximately 73% of consolidated revenues [70] - Marketplace gross profit performance increased 27% year-on-year, representing 35% of revenue, with gross margin in the marketplace segment at 43% of revenue excluding purchased vehicles [54] - The finance segment's revenue grew 18% over the prior year, accounting for 27% of consolidated revenues, driven by loan transaction unit increases and fee and interest income growth [72] Market Data and Key Metrics Changes - The company sold 330,000 vehicles in Q1, a decline of 6% compared to Q1 of last year, but this was the lowest percentage decline in over a year [62] - Off-lease vehicle volumes remain scarce, with over 80% of off-lease vehicles selling upstream before reaching physical auctions [42][171] - New vehicle production and inventory on dealer lots increased during the quarter, which is expected to help balance supply and demand in the used vehicle market over time [66] Company Strategy and Development Direction - The company is transitioning to a single brand, OPENLANE, to simplify customer experience and consolidate technology platforms, which is expected to enhance marketplace efficiency [78][115] - The focus is on building a digital marketplace that integrates various vehicle types and enhances customer interactions, aiming for a 15% to 20% CAGR in adjusted EBITDA over the next several years [145][168] - The company plans to combine dealer inventory with off-lease and rental vehicles into a single OPENLANE branded marketplace experience by the end of the year [117] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the recovery of commercial seller volumes and the potential increase in off-lease vehicle supply in the second half of the year [149] - The company is managing a conservative portfolio in the finance segment, with expectations of credit losses returning to a more normalized range [68][105] - Management noted that the current market environment remains challenging, but they are seeing signs of improvement in buyer activity and conversion rates [15][39] Other Important Information - The company has a strong balance sheet with low debt and ample liquidity, generating $96 million in cash flows from operating activities in Q1 [100][107] - The transition to OPENLANE is not expected to impact guidance or projections significantly, with modest branding costs [121] - The company is focusing on cost management, with SG&A expenses declining by $11 million or 9% compared to Q1 of last year [73][97] Q&A Session Summary Question: What are the impacts of the rebranding exercise? - Management indicated that the rebranding to OPENLANE will not significantly impact guidance or projections, with modest branding costs expected [121] Question: How does the company view the future of AFC and credit risk? - Management expects credit risk losses to decline slightly as the year progresses, but anticipates AFC's total performance may be below last year's levels [123] Question: Can you provide insights on dealer recruitment efforts? - Management noted that they are actively working on dealer recruitment and have rolled out auction formats in several states, with positive results [129] Question: What is the current state of off-lease vehicle sales? - Management highlighted that over 80% of off-lease vehicles are currently being sold upstream, indicating a scarcity in the market [171] Question: How does the company plan to address repo volumes? - Management acknowledged that while repo volumes are increasing, they are still primarily flowing to physical auctions, but there are initiatives to sell some of these vehicles in a digital format [162]

First Quarter 2023 Earnings Slides May 2, 2023 2 3 KAR Q1 2023 Highlights* | --- | --- | --- | |---------------------------------------------------------------------------------------|---------|---------| | KAR | Q1 2023 | Q1 2022 | | Total operating revenues from continuing operations | $420.6 | $369.4 | | Gross profit** | $196.4 | $158.6 | | % of revenue** | 46.7% | 42.9% | | SG&A | $108.0 | $118.9 | | Other (income) expense, net*** | $7.1 | $1.2 | | EBITDA | $80.4 | $38.4 | | Adjusted EBITDA | $58.9 | $4 ...