Compared to Estimates, Open Lending (LPRO) Q3 Earnings: A Look at Key Metrics

Core Insights - Open Lending (LPRO) reported a revenue of $23.48 million for the quarter ended September 2024, reflecting a decline of 9.7% year-over-year and falling short of the Zacks Consensus Estimate of$ 29.46 million by 20.32% [1] - The company's earnings per share (EPS) was $0.01, down from$ 0.02 in the same quarter last year, resulting in an EPS surprise of -80.00% against the consensus estimate of $0.05 [1] Revenue Breakdown - Profit share revenue was reported at$ 6.82 million, significantly below the four-analyst average estimate of $13.37 million, marking a year-over-year decline of 15% [3] - Program fees generated revenue of$ 14.16 million, slightly above the average estimate of $13.44 million, but still down 8.1% year-over-year [3] - Claims administration service fees amounted to$ 2.49 million, in line with the average estimate of $2.48 million, representing a year-over-year decrease of 2.9% [3] Stock Performance - Over the past month, Open Lending's shares have increased by 16.2%, outperforming the Zacks S&P 500 composite, which saw a change of 3.2% [4] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [4]