Open Lending Corporation Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Open Lending Corporation has an operating margin of -272.1%, meaning the company retains $-272 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from 24.8% the prior year.
Open Lending Corporation's revenue declined 79.5% year-over-year, from $117.5M to $24.0M. This contraction results in a growth score of 0/100.
Open Lending Corporation has a moderate D/E ratio of 1.69. This balance of debt and equity financing earns a leverage score of 48/100.
With a current ratio of 5.84, Open Lending Corporation holds $5.84 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Open Lending Corporation converts 72.6% of revenue into free cash flow ($17.4M). This strong cash generation earns a score of 100/100.
Open Lending Corporation passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Open Lending Corporation generates $-0.13 in operating cash flow ($17.6M OCF vs -$135.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Open Lending Corporation earns $-5.8 in operating income for every $1 of interest expense (-$65.4M vs $11.3M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
This page shows Open Lending Corporation (LPRO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Open Lending Corporation generated $24.0M in revenue in fiscal year 2024. This represents a decrease of 79.5% from the prior year.
Open Lending Corporation's EBITDA was -$63.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 310.7% from the prior year.
Open Lending Corporation generated $17.4M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 78.9% from the prior year.
Open Lending Corporation reported -$135.0M in net income in fiscal year 2024. This represents a decrease of 711.7% from the prior year.
Open Lending Corporation earned $-1.13 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 727.8% from the prior year.
Open Lending Corporation held $243.2M in cash against $132.2M in long-term debt as of fiscal year 2024.
Open Lending Corporation had 119M shares outstanding in fiscal year 2024. This represents an increase of 0.4% from the prior year.
Open Lending Corporation's gross margin was 0.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 80.3 percentage points from the prior year.
Open Lending Corporation's operating margin was -272.1% in fiscal year 2024, reflecting core business profitability. This is down 296.9 percentage points from the prior year.
Open Lending Corporation's net profit margin was -562.0% in fiscal year 2024, showing the share of revenue converted to profit. This is down 580.8 percentage points from the prior year.
Open Lending Corporation invested $4.5M in research and development in fiscal year 2024. This represents a decrease of 20.0% from the prior year.
Open Lending Corporation spent $0 on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.
Open Lending Corporation invested $165K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 34.1% from the prior year.
LPRO Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $24.2M-4.5% | $25.3M+3.8% | $24.4M+3.9% | $23.5M-12.2% | $26.7M-13.1% | $30.7M+105.8% | $14.9M-42.6% | $26.0M |
| Cost of Revenue | $5.3M-3.5% | $5.5M-9.5% | $6.1M-0.7% | $6.1M+7.2% | $5.7M-0.6% | $5.8M+7.2% | $5.4M-0.1% | $5.4M |
| Gross Profit | $18.9M-4.8% | $19.8M+8.1% | $18.3M+5.5% | $17.3M-17.4% | $21.0M-15.9% | $25.0M+161.1% | $9.6M-53.6% | $20.6M |
| R&D Expenses | $2.0M-18.5% | $2.5M+10.9% | $2.3M+128.5% | $992K-12.2% | $1.1M-23.6% | $1.5M-1.4% | $1.5M-12.6% | $1.7M |
| SG&A Expenses | $21.1M+76.0% | $12.0M+9.8% | $10.9M+13.6% | $9.6M-18.3% | $11.7M-2.0% | $12.0M-0.2% | $12.0M+21.5% | $9.9M |
| Operating Income | -$7.7M-754.8% | $1.2M+54.3% | $762K-59.2% | $1.9M-53.2% | $4.0M-45.5% | $7.3M+188.5% | -$8.3M-282.5% | $4.5M |
| Interest Expense | $2.4M+0.5% | $2.4M-6.6% | $2.6M-12.6% | $3.0M+8.3% | $2.7M-1.2% | $2.8M-1.8% | $2.8M+0.8% | $2.8M |
| Income Tax | -$16K-120.0% | $80K+42.9% | $56K-91.9% | $688K-52.2% | $1.4M-41.0% | $2.4M+178.1% | -$3.1M-303.6% | $1.5M |
| Net Income | -$7.6M-832.0% | $1.0M+67.6% | $617K-57.1% | $1.4M-50.5% | $2.9M-43.0% | $5.1M+205.1% | -$4.8M-261.2% | $3.0M |
| EPS (Diluted) | $-0.06-700.0% | $0.010.0% | $0.010.0% | $0.01-50.0% | $0.02-50.0% | $0.04+233.3% | $-0.03-250.0% | $0.02 |
LPRO Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $287.7M-3.0% | $296.7M-2.5% | $304.2M+2.7% | $296.4M-22.6% | $382.8M+0.6% | $380.6M+1.8% | $374.0M-2.4% | $383.4M |
| Current Assets | $272.6M+2.0% | $267.1M-3.8% | $277.8M+0.7% | $275.7M-6.0% | $293.2M+0.9% | $290.5M+0.2% | $289.9M-1.4% | $293.9M |
| Cash & Equivalents | $222.1M-3.7% | $230.7M-2.4% | $236.2M-2.9% | $243.2M-2.0% | $248.0M+0.4% | $247.0M+2.8% | $240.2M+3.3% | $232.6M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $4.4M+0.3% | $4.4M-20.6% | $5.5M+9.8% | $5.1M+13.9% | $4.4M-22.8% | $5.8M+24.6% | $4.6M-12.3% | $5.3M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $214.8M-1.3% | $217.7M-3.0% | $224.4M+2.8% | $218.3M+31.5% | $166.0M-1.8% | $169.1M+0.4% | $168.5M-0.1% | $168.7M |
| Current Liabilities | $48.8M+3.4% | $47.1M+5.5% | $44.7M-5.4% | $47.3M+114.7% | $22.0M-0.4% | $22.1M+7.4% | $20.6M+3.1% | $20.0M |
| Long-Term Debt | $126.9M-1.4% | $128.6M-1.4% | $130.4M-1.4% | $132.2M-2.6% | $135.8M-2.0% | $138.5M-0.6% | $139.4M-1.3% | $141.1M |
| Total Equity | $72.8M-7.8% | $78.9M-1.1% | $79.8M+2.2% | $78.1M-64.0% | $216.8M+2.5% | $211.5M+2.9% | $205.6M-4.3% | $214.7M |
| Retained Earnings | -$334.7M-2.3% | -$327.1M+0.3% | -$328.1M+0.2% | -$328.8M-77.0% | -$185.8M+1.5% | -$188.7M+2.6% | -$193.7M-2.6% | -$188.9M |
LPRO Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$5.7M-766.7% | $848K+122.1% | -$3.8M-13.6% | -$3.4M-140.1% | -$1.4M-112.8% | $11.0M-34.3% | $16.8M-17.6% | $20.3M |
| Capital Expenditures | $0-100.0% | $11K-75.6% | $45K+1025.0% | $4K-92.2% | $51K | $0-100.0% | $20K-23.1% | $26K |
| Free Cash Flow | -$5.7M-775.5% | $837K+121.6% | -$3.9M-14.8% | -$3.4M-132.0% | -$1.5M-113.2% | $11.0M-34.2% | $16.7M-17.6% | $20.3M |
| Investing Cash Flow | -$77K+66.2% | -$228K+62.4% | -$606K+47.7% | -$1.2M-6.6% | -$1.1M-69.2% | -$642K-8.8% | -$590K+20.8% | -$745K |
| Financing Cash Flow | -$1.9M+69.4% | -$6.1M-132.8% | -$2.6M-5.9% | -$2.5M-2044.0% | -$116K+94.1% | -$2.0M+75.2% | -$7.9M+27.8% | -$10.9M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0 | N/A | N/A | $0 | $0 | $0-100.0% | $6.0M-40.0% | $10.0M |
LPRO Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 78.0%-0.2pp | 78.2%+3.2pp | 75.1%+1.2pp | 73.9%-4.7pp | 78.6%-2.7pp | 81.3%+17.2pp | 64.1%-15.3pp | 79.3% |
| Operating Margin | -31.9%-36.5pp | 4.7%+1.5pp | 3.1%-4.8pp | 8.0%-7.0pp | 14.9%-8.9pp | 23.8%+79.2pp | -55.4%-72.9pp | 17.4% |
| Net Margin | -31.3%-35.4pp | 4.1%+1.6pp | 2.5%-3.6pp | 6.1%-4.7pp | 10.9%-5.7pp | 16.6%+49.0pp | -32.4%-44.0pp | 11.6% |
| Return on Equity | N/A | 1.3%+0.5pp | 0.8%+0.1pp | 0.7%-0.7pp | 1.3%-1.1pp | 2.4% | N/A | 1.4% |
| Return on Assets | -2.6%-3.0pp | 0.4%+0.1pp | 0.2%-0.2pp | 0.4%-0.4pp | 0.8%-0.6pp | 1.3%+2.6pp | -1.3%-2.1pp | 0.8% |
| Current Ratio | 5.59-0.1 | 5.67-0.5 | 6.21+0.4 | 5.84-7.5 | 13.32+0.2 | 13.14-0.9 | 14.08-0.6 | 14.71 |
| Debt-to-Equity | 1.74+0.1 | 1.630.0 | 1.63-0.1 | 1.69+1.1 | 0.63-0.0 | 0.65-0.0 | 0.68+0.0 | 0.66 |
| FCF Margin | -23.4%-26.7pp | 3.3%+19.2pp | -15.9%-63.9pp | 48.0%+53.4pp | -5.5%-41.3pp | 35.8%-76.2pp | 112.0%+34.0pp | 78.0% |
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Frequently Asked Questions
What is Open Lending Corporation's annual revenue?
Open Lending Corporation (LPRO) reported $24.0M in total revenue for fiscal year 2024. This represents a -79.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Open Lending Corporation's revenue growing?
Open Lending Corporation (LPRO) revenue declined by 79.5% year-over-year, from $117.5M to $24.0M in fiscal year 2024.
Is Open Lending Corporation profitable?
No, Open Lending Corporation (LPRO) reported a net income of -$135.0M in fiscal year 2024, with a net profit margin of -562.0%.
What is Open Lending Corporation's earnings per share (EPS)?
Open Lending Corporation (LPRO) reported diluted earnings per share of $-1.13 for fiscal year 2024. This represents a -727.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Open Lending Corporation's EBITDA?
Open Lending Corporation (LPRO) had EBITDA of -$63.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Open Lending Corporation have?
As of fiscal year 2024, Open Lending Corporation (LPRO) had $243.2M in cash and equivalents against $132.2M in long-term debt.
What is Open Lending Corporation's gross margin?
Open Lending Corporation (LPRO) had a gross margin of 0.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Open Lending Corporation's operating margin?
Open Lending Corporation (LPRO) had an operating margin of -272.1% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Open Lending Corporation's net profit margin?
Open Lending Corporation (LPRO) had a net profit margin of -562.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Open Lending Corporation's free cash flow?
Open Lending Corporation (LPRO) generated $17.4M in free cash flow during fiscal year 2024. This represents a -78.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Open Lending Corporation's operating cash flow?
Open Lending Corporation (LPRO) generated $17.6M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Open Lending Corporation's total assets?
Open Lending Corporation (LPRO) had $296.4M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Open Lending Corporation's capital expenditures?
Open Lending Corporation (LPRO) invested $165K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Open Lending Corporation spend on research and development?
Open Lending Corporation (LPRO) invested $4.5M in research and development during fiscal year 2024.
How many shares does Open Lending Corporation have outstanding?
Open Lending Corporation (LPRO) had 119M shares outstanding as of fiscal year 2024.
What is Open Lending Corporation's current ratio?
Open Lending Corporation (LPRO) had a current ratio of 5.84 as of fiscal year 2024, which is generally considered healthy.
What is Open Lending Corporation's debt-to-equity ratio?
Open Lending Corporation (LPRO) had a debt-to-equity ratio of 1.69 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Open Lending Corporation's return on assets (ROA)?
Open Lending Corporation (LPRO) had a return on assets of -45.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Open Lending Corporation's Piotroski F-Score?
Open Lending Corporation (LPRO) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Open Lending Corporation's earnings high quality?
Open Lending Corporation (LPRO) has an earnings quality ratio of -0.13x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Open Lending Corporation cover its interest payments?
Open Lending Corporation (LPRO) has an interest coverage ratio of -5.8x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Open Lending Corporation?
Open Lending Corporation (LPRO) scores 50 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.