Core Insights - Open Lending Corporation reported its third quarter financial results for the period ending September 30, 2025, highlighting a strategic shift towards enhanced underwriting standards and a conservative booking approach aimed at reducing profit share unit volatility [2][6]. Financial Performance - The company facilitated 23,880 certified loans in Q3 2025, a decrease from 27,435 certified loans in Q3 2024 [7]. - Total revenue for Q3 2025 was $24.2 million, up from $23.5 million in Q3 2024, driven by a $1.1 million increase in estimated profit share revenues from historic vintages [7]. - Gross profit increased to $18.9 million in Q3 2025 from $17.3 million in Q3 2024 [7]. - The net loss for Q3 2025 was $7.6 million, compared to a net income of $1.4 million in Q3 2024 [7]. - Adjusted EBITDA for Q3 2025 was $5.6 million, compared to $4.5 million in Q3 2024 [7]. Business Highlights - Credit unions and banks accounted for 89.8% of certified loans in Q3 2025, up from 79.5% in Q3 2024 [8]. - Average profit share revenue per certified loan decreased to $310 in Q3 2025 from $502 in Q3 2024, while average program fee revenue per certified loan increased to $558 from $516 [8]. - The company launched ApexOne Auto, an advanced decisioning platform aimed at enhancing service capabilities for a broader range of auto borrowers [2]. Fourth Quarter Outlook - For Q4 2025, Open Lending expects total certified loans to range between 21,500 and 23,500 [6].

Core Insights - Open Lending Corporation has launched ApexOne Auto, an advanced decisioning platform aimed at enhancing its capabilities in serving a diverse range of auto borrowers [1][3] - The platform integrates automation, data, and explainable intelligence to facilitate faster and more consistent credit decisions while ensuring effective risk management [2][3] Company Overview - Open Lending specializes in automotive lending enablement and risk analytics solutions for financial institutions, providing services such as loan analytics, risk-based pricing, and risk modeling [5] - The company has been operational for 25 years, focusing on empowering financial institutions to develop profitable auto loan portfolios with reduced risk [5] Product Features - ApexOne Auto is designed to integrate seamlessly with existing loan origination systems, enhancing the overall credit evaluation and performance management process for financial institutions [4] - Early adopters of the platform have reported positive experiences, particularly regarding its automation and integration capabilities [3][4] Market Context - The auto lending market is evolving, necessitating comprehensive solutions that can address the needs of various borrower profiles with speed and confidence [3] - The launch of ApexOne Auto aims to break through existing credit spectrum silos, providing a unified decisioning engine that supports growth while managing risk [3]