Open Lending Reports Fourth Quarter and Full Year 2025 Financial Results

Core Viewpoint - Open Lending Corporation reported significant improvements in financial performance for the fourth quarter and full year ended December 31, 2025, highlighting a focus on disciplined underwriting and pricing strategies to ensure sustainable growth in 2026 [2][3]. Financial Highlights Three Months Ended December 31, 2025 - The company facilitated 19,308 certified loans, a decrease from 26,065 in the same quarter of 2024 [6]. - Total revenue reached $19.3 million, a significant recovery from a loss of $56.9 million in Q4 2024 [6]. - Gross profit was $14.7 million, compared to a gross loss of $63.2 million in Q4 2024 [6]. - Net income was $1.7 million, a turnaround from a net loss of $144.4 million in Q4 2024 [6]. - Adjusted EBITDA was $2.8 million, improving from a loss of $75.9 million in Q4 2024 [6]. Twelve Months Ended December 31, 2025 - The company facilitated 97,348 certified loans, down from 110,652 in the previous year [6]. - Total revenue for the year was $93.2 million, up from $24.0 million in the prior year [6]. - Gross profit was $71.7 million, compared to $0.2 million in the previous year [6]. - Net loss was reduced to $4.2 million from $135.0 million in the prior year [6]. - Adjusted EBITDA for the year was $15.6 million, compared to a loss of $55.0 million in the previous year [6]. Business Developments - The launch of the ApexOne Auto platform expanded Open Lending's capabilities across the full auto credit spectrum, transitioning the company from a single-product to a full-scope lending platform [3]. - The company made a voluntary principal debt repayment of $48.0 million in December 2025 [11]. - Credit unions and banks represented 89.4% of certified loans in Q4 2025, an increase from 85.4% in Q4 2024 [11]. Financial Outlook - The company expects total certified loans to be between 20,000 and 21,000 for Q1 2026 and between 100,000 and 110,000 for the full year 2026 [11]. - Adjusted EBITDA is projected to be between $25 million and $29 million for the full year 2026 [11].