Open Lending(US:LPRO)2025-06-23 14:42Financial Performance - Q4 2024 - Revenue decreased significantly to $(56.9) million, compared to $14.9 million in Q4 2023 [3] - Adjusted EBITDA also showed a substantial decrease to $(73.1) million, compared to $(2.1) million in Q4 2023 [3] Financial Performance - Full Year 2024 - Revenue decreased to $24.0 million, a significant drop from $117.5 million in FY 2023 [6] - Adjusted EBITDA decreased to $(42.9) million, compared to $50.2 million in FY 2023 [6] Key Performance Indicators - Total Certs decreased slightly to 26,065 in Q4 2024 from 26,263 in Q4 2023 [3] - Total Certs decreased to 110,652 in FY 2024 from 122,984 in FY 2023 [6] - Average Profit Share Revenue per Cert decreased to $314 in Q4 2024 from $501 in Q4 2023 [10] - Average Profit Share Revenue per Cert decreased to $479 in FY 2024 from $538 in FY 2023 [10] - Facilitated Loan Origination Volume decreased to $732.129 million in Q4 2024 from $764.149 million in Q4 2023 [10] - Facilitated Loan Origination Volume decreased to $3,111.753 million in FY 2024 from $3,614.303 million in FY 2023 [10] Strategic Focus - The new CEO plans to focus on profitable unit economics, growth, and pricing approaches to enhance predictability and reduce volatility [8, 9] - The company aims to enhance tools and scorecards to predict the frequency and severity of defaults [9] - The company is identifying potential cost efficiencies and process improvements throughout the loan life cycle [9]