Open Lending (LPRO) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Open Lending (LPRO) reported a revenue of $26.73 million for the quarter ended June 2024, reflecting a year-over-year decline of 29.9% and an EPS of $0.02 compared to $0.09 a year ago [1] - The reported revenue fell short of the Zacks Consensus Estimate of $31.52 million, resulting in a surprise of -15.21%, while the EPS surprise was -60.00% against a consensus estimate of $0.05 [1] Revenue Breakdown - Revenue from profit share was $9.33 million, significantly below the average estimate of $14.76 million from four analysts, marking a year-over-year decline of 47.6% [3] - Revenue from program fees was $14.84 million, slightly above the average estimate of $14.29 million, but still represented a year-over-year decline of 17.1% [4] - Revenue from claims administration service fees was $2.56 million, exceeding the average estimate of $2.41 million, and showed a year-over-year increase of 4.3% [5] Stock Performance - Over the past month, shares of Open Lending have returned +1.3%, contrasting with the Zacks S&P 500 composite's decline of -6.5% [5] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [5]