Open Lending(LPRO) - 2025 Q3 - Earnings Call Presentation

Financial Performance - Revenue increased to $24.2 million in Q3 2025 from $23.5 million in Q3 2024[3] - Adjusted EBITDA increased to $5.6 million in Q3 2025 from $4.5 million in Q3 2024[3] - The company experienced a net loss of $7.569 million in Q3 2025, compared to a net income of $1.437 million in Q3 2024[19] - Adjusted EBITDA margin was 23% in Q3 2025, compared to 19% in Q3 2024[20] Loan Origination - Total certified loans decreased to 23,880 in Q3 2025 from 27,435 in Q3 2024[3] - Facilitated loan origination volume decreased to $701.7 million in Q3 2025 from $772.5 million in Q3 2024[16] - Average loan size increased to $29,384 in Q3 2025 from $28,156 in Q3 2024[16] Loan Portfolio Mix - CU/Bank channel loans accounted for 89.8% of the total in Q3 2025, up from 79.5% in Q3 2024, while OEM loans accounted for 10.2%, down from 20.5%[5] - Used vehicle certs accounted for 87.5% of the total in Q3 2025, compared to 87.1% in Q3 2024[8] - Direct certs accounted for 19.8% of the total in Q3 2025, compared to 19.5% in Q3 2024[8,18] - Refinance certs accounted for 5.8% of the total in Q3 2025, compared to 3.2% in Q3 2024[8,18] Credit Profile - Credit builder loans accounted for 6.3% of the total in Q3 2025[11]