Core Insights - Open Lending Corporation has appointed Massimo Monaco as Chief Financial Officer, effective August 18, 2025, to drive the next phase of growth [1][3] - Mr. Monaco has over two decades of experience in executive finance leadership within the residential mortgage lending and financial services sectors [2] - The company aims to leverage Mr. Monaco's expertise to enhance its strategic vision and continue growth across its platform [3] Company Overview - Open Lending provides loan analytics, risk-based pricing, risk modeling, and default insurance to auto lenders in the United States [4] - The company has been empowering financial institutions for over 20 years to create profitable auto loan portfolios with reduced risk and increased rewards [4]

Core Insights - Open Lending Corporation reported its financial results for the first quarter ended March 31, 2025, highlighting a decrease in total revenue and net income compared to the same period in 2024 [1][9]. Financial Performance - The company facilitated 27,638 certified loans in Q1 2025, a slight decrease from 28,189 certified loans in Q1 2024 [9]. - Total revenue for Q1 2025 was $24.4 million, down from $30.7 million in Q1 2024, primarily due to a $7.4 million decrease in estimated profit share revenue from new originations [9]. - Gross profit decreased to $18.3 million in Q1 2025 from $25.0 million in Q1 2024 [9]. - Net income for Q1 2025 was $0.6 million, compared to $5.1 million in Q1 2024 [9]. - Adjusted EBITDA was $5.7 million in Q1 2025, down from $12.5 million in Q1 2024, with an adjusted EBITDA margin of 23% compared to 41% in the previous year [9][23]. Strategic Initiatives - The CEO expressed confidence in the company's business model and its ability to enhance lender profitability through new loan measures and refined pricing strategies [2][3]. - The Board of Directors authorized a $25 million share repurchase program, allowing the company to repurchase its common stock until May 1, 2026 [3][8]. Outlook - For the second quarter of 2025, the company expects total certified loans to be between 25,500 and 27,500 [5].