OPENLANE, Inc. Reports 2024 Financial Results

Core Insights - OPENLANE, Inc. reported positive financial results for Q4 and full-year 2024, with significant growth in its marketplace business, achieving a 15% increase in dealer volumes and a 30% rise in Adjusted EBITDA [2][7] - The company emphasizes its asset-light, digital model's scalability, which has led to increased revenue and reduced costs, resulting in $293 million in Adjusted EBITDA for the year [2][7] Fourth Quarter Highlights - Marketplace total volume grew by 9% year-over-year, with dealer volume increasing by 15% - Consolidated revenue reached $455 million, marking a 12% year-over-year growth, driven by an 18% increase in Marketplace revenue - Consolidated Adjusted EBITDA for Q4 was $73 million, reflecting an 18% year-over-year growth [7][12] Full Year Highlights - For the full year, consolidated revenue was $1,789 million, representing a 5% year-over-year growth, with Marketplace growth at 8% - Consolidated income from continuing operations was $110 million, with Marketplace contributing $2 million - Consolidated Adjusted EBITDA for the year was $293 million, an 8% increase year-over-year [7][12] 2025 Guidance - The company provided guidance for 2025, projecting income from continuing operations between $100 million and $114 million - Adjusted EBITDA is expected to range from $290 million to $310 million - Operating adjusted net income from continuing operations per diluted share is forecasted to be between $0.90 and $1.00 [4][24][25] Financial Performance Metrics - Q4 2024 Adjusted EBITDA for the Marketplace was $31 million, a 30% increase year-over-year - Full-year 2024 cash flow from operating activities was $293 million - Gross Merchandise Value (GMV) for the year was approximately $27 billion, representing a 12% year-over-year growth [7][12]