Financial Performance - For the year ended December 31, 2025, total operating revenues increased by 8% to $1,934.5 million compared to $1,788.5 million in 2024[199]. - Net income for 2025 was $177.7 million, an increase from $109.9 million in 2024, showcasing significant growth in profitability[198]. - Operating profit for 2025 was $196.6 million, compared to $182.2 million in 2024, indicating improved operational efficiency[198]. - Adjusted EBITDA for the year ended December 31, 2025, was $332.6 million, compared to $293.4 million in 2024, reflecting a growth of approximately 13%[293]. - EBITDA for the year ended December 31, 2025, was $408.7 million, significantly higher than $396.8 million in 2024[293]. - Net cash provided by operating activities for continuing operations was $391.9 million for the year ended December 31, 2025, up from $292.8 million in 2024, indicating improved profitability[296]. Revenue Breakdown - Auction and related fees generated $833.5 million in 2025, up from $735.3 million in 2024, reflecting strong marketplace performance[198]. - Total Marketplace revenue rose by $143.4 million, or 11%, to $1,500.8 million in 2025, driven by a 15% increase in dealer consignment vehicles sold[209]. - Gross profit from the Marketplace segment increased by $64.4 million, or 16%, to $457.8 million in 2025, with gross profit margin improving to 30.5% from 29.0%[214][215]. - Purchased vehicle sales increased by $83.2 million, or 25%, to $410.2 million in 2025, attributed to higher sales in the U.S. and Europe[213]. - SaaS and other revenue decreased by $38.0 million, or 13%, to $257.1 million in 2025, primarily due to the sale of the automotive key business in 2024[212]. Expenses and Costs - Selling, general and administrative expenses increased by $5.0 million, or 10%, to $54.0 million for the year ended December 31, 2025, primarily due to higher incentive-based compensation[229]. - Interest expense decreased by 17% to $18.1 million in 2025, down from $21.8 million in 2024, due to debt repayment and reduced borrowings[201]. - Depreciation and amortization expenses decreased by 4% to $91.7 million in 2025, primarily due to fully amortized assets[200]. - Cost of services for the Finance segment increased by $3.9 million, or 6%, to $71.3 million for the year ended December 31, 2025, driven by increases in compensation expenses[228]. Credit and Financing - The provision for credit losses decreased to $42.4 million in 2025 from $54.3 million in 2024, indicating improved credit quality[198]. - Finance provision for credit losses decreased by $10.3 million, or 22%, to $37.3 million for the year ended December 31, 2025, with the provision for credit losses at 1.6% of average receivables managed[227]. - The allowance for losses on finance receivables was $27.5 million as of December 31, 2025, compared to $19.8 million in 2024[285]. - The Company managed total finance receivables of $2,423.5 million as of December 31, 2025, an increase from $2,314.0 million in 2024[285]. Tax and Other Income - The effective tax rate significantly decreased to 7.5% in 2025 from 30.4% in 2024, aided by the release of a $35.8 million valuation allowance against the U.S. net deferred tax asset[203]. - Other income increased to $13.7 million in 2025 from an expense of $2.5 million in 2024, primarily due to foreign currency gains of $9.3 million compared to losses of $5.8 million in 2024[202]. Market Outlook - The company expects a higher volume of off-lease vehicles available to the wholesale used vehicle industry starting in 2026, driven by healthy lease originations[184]. - The total addressable market for the U.S. and Canadian wholesale used vehicle industry is approximately 15 million vehicles, with potential for growth through digital applications[188]. Cash and Liquidity - Cash and cash equivalents were $141.5 million as of December 31, 2025, compared to $143.0 million in 2024[265]. - Working capital increased to $407.7 million as of December 31, 2025, from $286.0 million in 2024[265]. - The Company has no borrowings on the Revolving Credit Facilities as of December 31, 2025, with outstanding letters of credit totaling $42.6 million[275]. - The Company had cash totaling $141.5 million and an additional $409.9 million available for borrowing under the Revolving Credit Facilities as of December 31, 2025[281]. Debt and Obligations - Total contractual cash obligations as of December 31, 2025, amounted to $864.5 million, with $60.3 million due within one year and $804.2 million due after one year[304]. - Projected interest payments related to long-term debt are estimated at $237.5 million, with $41.7 million due within one year[305]. - The Company issued $950 million of 5.125% senior notes due June 1, 2025, and repaid $210.0 million upon maturity in 2025[280]. Currency and Interest Rate Exposure - The company does not currently use foreign exchange contracts to hedge changes in currency values[325]. - The company does not currently use interest rate contracts to manage exposure to interest rate changes[326]. - Interest rate fluctuations affect the amount of interest expense the company is obligated to pay[326].

分组1 - OPENLANE reported quarterly earnings of $0.25 per share, missing the Zacks Consensus Estimate of $0.30 per share, but showing an increase from $0.21 per share a year ago, resulting in an earnings surprise of -15.74% [1] - The company posted revenues of $494.3 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 3.29% and increasing from $455 million year-over-year [2] - OPENLANE has surpassed consensus EPS estimates three times over the last four quarters and topped consensus revenue estimates four times during the same period [2] 分组2 - The stock has underperformed the market, losing about 2.6% since the beginning of the year compared to the S&P 500's zero return [3] - The current consensus EPS estimate for the coming quarter is $0.29 on revenues of $485.64 million, and for the current fiscal year, it is $1.38 on revenues of $2.03 billion [7] - The Zacks Industry Rank for Automotive - Original Equipment is currently in the bottom 45% of over 250 Zacks industries, indicating potential underperformance compared to the top 50% of ranked industries [8]

OPENLANE (NYSE:KAR) Q4 2025 Earnings call February 18, 2026 08:30 AM ET Company ParticipantsBill Wright - VP of Investor RelationsBob Labick - PresidentBrad Herring - EVP and CFOJeff Lick - Managing DirectorPeter Kelly - CEOConference Call ParticipantsCraig Kennison - Senior Research AnalystGary Prestopino - Managing Director and Senior Equity Research AnalystJohn Babcock - Stock AnalystRajat Gupta - Research AnalystOperatorPlease note this event is being recorded. I would now like to turn the conference ov ...

OPENLANE (NYSE:KAR) Q4 2025 Earnings call February 18, 2026 08:30 AM ET Speaker7Please note this event is being recorded. I would now like to turn the conference over to Bill Wright, Vice President, Investor Relations. Please go ahead.Speaker0Thank you, operator. Good morning, everyone. Welcome to OPENLANE's fourth quarter in 2025 and full year earnings call. With me today are Peter Kelly, CEO of OPENLANE, and Brad Herring, EVP and CFO of OPENLANE. Our remarks today include forward-looking statements within ...

Q4 2025 Earnings February 18, 2026 1 Q4 | 2025 Forward-Looking Statements Certain statements contained in this presentation include, and OPENLANE may make related oral, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements made that are not historical facts (including but not limited to expectations, estimates, assumptions, projections and/or financial guidance) may be forward-looking statements. Words such as "should," "may," "wil ...

EXHIBIT 99.2 OPENLANE, Inc. Q4 and YTD 2025 Supplemental Financial Information February 18, 2026 OPENLANE, Inc. EBITDA and Adjusted EBITDA Measures EBITDA and Adjusted EBITDA as presented herein are supplemental measures of our performance that are not required by, or presented in accordance with, generally accepted accounting principles in the United States ("GAAP"). The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for, or superior to, f ...

The market expects OPENLANE (OPLN) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended December 2025. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released ...

Group 1 - OPENLANE, Inc. will change its NYSE ticker symbol from "KAR" to "OPLN" effective December 26, 2025, aligning its investor brand with its corporate brand [1][2] - The company has undergone significant transformation in its business, technology, and customer experience since rebranding to OPENLANE two and a half years ago [2] - OPENLANE is recognized as the industry leader in off-lease remarketing, experiencing growth in both volumes and market share within the dealer-to-dealer market [2] Group 2 - OPENLANE operates a digital marketplace connecting automotive manufacturers, dealers, rental companies, fleet operators, and lending institutions, facilitating a transparent and efficient wholesale process [4] - The company is headquartered in Carmel, Indiana, and has a global presence with employees in the United States, Canada, Europe, Uruguay, and the Philippines [4]

Openlane (NYSE:KAR) FY Conference Summary Company Overview - **Company**: Openlane - **Industry**: Automotive auction and remarketing - **Date of Conference**: November 20, 2025 Key Points Industry Dynamics - Openlane operates in the wholesale used vehicle industry, which is transitioning to a more digital platform, particularly in dealer-to-dealer (D2D) auctions [2][11] - The company has seen a significant shift towards digital transactions, with D2D volumes growing double digits for four consecutive quarters [18] Company Performance - Openlane has experienced accelerating growth metrics, with a notable increase in dealer volumes by 14% in the third quarter [19] - The company has a strong market share and is positioned as a leading player in the digital auction space [11] Strategic Initiatives - The CEO emphasized the importance of digital transformation, including the divestiture of physical assets to focus on digital growth [8][9] - Openlane has rebranded its platform to unify dealer and commercial inventory, enhancing user experience [10] - The company has made significant technology investments to improve platform usability and customer confidence, including better condition reports and a unified app for dealers [20][21] Market Opportunities - The lease maturity curve is expected to increase by over 20% in the coming years, providing a larger volume of vehicles for Openlane to auction [29] - The consumer buyout rate of leases has decreased from over 80% back to approximately 65%, indicating more vehicles will be returned for auction [30] Competitive Landscape - Openlane operates in a duopolistic market for digital auctions, competing primarily with one other major player [22] - The company focuses on value realization for sellers, emphasizing that the realization of asset value is more critical than fee structures [23] Financial Health - Openlane's financing business (AFC) is a significant cash generator, with low loan loss provisions of 1.5-2% compared to competitors [51] - The company has recently engaged in a transaction to buy back a significant portion of convertible preferred shares, reducing market overhang [55][56] Future Outlook - The management is optimistic about sustained growth in both the commercial and dealer segments, with expectations of continued digital adoption [64] - Openlane aims to maintain a conservative approach to its financing business while leveraging it to support marketplace growth [54] Additional Insights - The "absolute sale" feature has become popular among sellers, contributing to over 50% of total D2D transactions and generating significant incremental revenue [48] - Openlane's strategy includes ongoing investments in go-to-market resources to enhance market penetration and customer engagement [21] Conclusion - Openlane is well-positioned for future growth, with a strong focus on digital transformation, strategic partnerships, and a robust financial foundation. The company anticipates a positive trajectory in the automotive auction industry, driven by increasing digital adoption and favorable market conditions [64][65]

Core Insights - OPENLANE, Inc. is a leading operator of digital marketplaces for wholesale used vehicles, with a focus on connecting various stakeholders in the automotive industry [2][3]. Company Participation in Conferences - OPENLANE's CEO Peter Kelly, CFO Brad Herring, and VP of Investor Relations Bill Wright are scheduled to participate in multiple upcoming conferences, including the Wells Fargo TMT Summit on November 18, 2025, and the BofA Auto Dealer Conference on December 10, 2025 [1][5]. Financial Performance - OPENLANE is set to announce its third quarter 2025 financial results, which will provide insights into the company's performance for the period ending September 30, 2025 [3][4].