Core Insights - OPENLANE, Inc. reported strong second quarter results with a 24% increase in auction fee revenue, $87 million in Adjusted EBITDA, and $87 million in Adjusted Free Cash Flow [2][7] - The company experienced a 21% growth in dealer volume and significant market share gains, positioning itself well for the transition from physical to digital in the industry [2][3] - OPENLANE raised its full-year guidance for Adjusted EBITDA and Operating Adjusted EPS, reflecting confidence in its scalability and growth strategy [3][7] Financial Performance - Revenue for the second quarter reached $482 million, a 9% year-over-year increase, driven by a 24% growth in auction fee revenue [7] - Income from continuing operations was $33 million, representing a 212% year-over-year growth [7] - Adjusted EBITDA for the quarter was $87 million, a 21% increase compared to the previous year [7] Guidance Update - The revised annual guidance for 2025 includes: - Income from continuing operations: $132 - $140 million (previously $100 - $114 million) - Adjusted EBITDA: $310 - $320 million (previously $290 - $310 million) - Operating Adjusted EPS: $1.12 - $1.17 (previously $0.90 - $1.00) [3][25] Market Position - OPENLANE's marketplace segment now accounts for 51% of its consolidated Adjusted EBITDA, highlighting the effectiveness of its asset-light, digital operating model [2][3] - The company is well-positioned to benefit from the anticipated increase in off-lease supply beginning in 2026, indicating a favorable outlook for future growth [2][3]