Open Lending Corporation (LPRO) Financials
Newest figures come from the 10-Q for Q1 FY2026, filed May 8, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LPRO SEC filings page.
Open Lending Corporation (LPRO) reported $89.3M in revenue over the twelve months to Mar 31, 2026. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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).
Revenue recovery has restored gross margin, but fixed operating costs still prevent the business from converting volume into durable earnings.
Gross margin rebounded from0.7% in FY2024 to76.9% in FY2025, restoring the economics of each incremental dollar of revenue. Yet operating margin was still-5.4% as SG&A rose to$53.1M , so the rebound currently supports gross profit more readily than operating profit.
FY2024’s earnings quality was unusual: a net loss of
Debt-to-equity fell from 1.7x in FY2024 to 1.0x in FY2025, indicating reduced leverage relative to book capital. However, the current ratio remained 4.5x while equity was only
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Open Lending Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Open Lending Corporation has an operating margin of -5.4%, meaning the company loses $5 on every $100 of revenue. This results in a profitability score of 6/100. This is up from -272.1% the prior year.
Open Lending Corporation's revenue surged 288.0% year-over-year to $93.2M, reflecting rapid business expansion. This strong growth earns a score of 9/100.
Open Lending Corporation has a moderate D/E ratio of 1.03. This balance of debt and equity financing earns a leverage score of 47/100.
With a current ratio of 4.52, Open Lending Corporation holds $4.52 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 90/100.
Open Lending Corporation's operations used $3.2M of cash, and capex of $56K added to the outflow, for a free cash flow shortfall of $3.3M. This results in a cash flow score of 96/100.
Open Lending Corporation posts a -5.7% return on equity (ROE), meaning it loses $6 for every $100 of shareholders' equity. This results in a returns score of 19/100. This is up from -172.9% the prior year.
Open Lending Corporation scores 0.61, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($371.5M) relative to total liabilities ($161.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Open Lending Corporation passes 6 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
Open Lending Corporation reported a net loss of $4.2M while operations used $3.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Open Lending Corporation reported an operating loss of $5.0M against $9.7M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Open Lending Corporation generated $20.5M in revenue in Q1 2026. This represents a decrease of 16.0% from the same quarter a year earlier. Against the prior quarter it is up 5.9%.
Open Lending Corporation's EBITDA was $23K in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 98.2% from the same quarter a year earlier. Against the prior quarter it is down 98.4%.
Open Lending Corporation reported -$460K in net income in Q1 2026. This represents a decrease of 174.6% from the same quarter a year earlier. Against the prior quarter it is down 127.3%.
Open Lending Corporation earned $0.00 per diluted share (EPS) in Q1 2026. This represents a decrease of 100.0% from the same quarter a year earlier. Against the prior quarter it is down 100.0%.
Cash & Balance Sheet
Open Lending Corporation recorded an outflow of $764K in free cash flow in Q1 2026, representing a cash shortfall after capex. This represents an increase of 80.3% from the same quarter a year earlier. Against the prior quarter it is down 114.0%.
Open Lending Corporation held $173.3M in cash against $75.4M in long-term debt as of Q1 2026.
Not reported for Q1 2026.
Margins & Returns
Open Lending Corporation's gross margin was 76.3% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is up 1.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.3 percentage points.
Open Lending Corporation's operating margin was -3.1% in Q1 2026, reflecting core business profitability. This is down 6.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 7.0 percentage points.
Open Lending Corporation's net profit margin was -2.2% in Q1 2026, showing the share of revenue converted to profit. This is down 4.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 10.9 percentage points.
Open Lending Corporation's ROE was -0.6% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is down 1.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.9 percentage points.
Capital Allocation
Open Lending Corporation invested $1.8M in research and development in Q1 2026. This represents a decrease of 22.1% from the same quarter a year earlier. Against the prior quarter it is down 9.2%.
Open Lending Corporation reported no capital expenditure in Q1 2026. This represents a decrease of 100.0% from the same quarter a year earlier.
Not reported for Q1 2026.
LPRO Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $20.5M-16.0% | $19.3M | $24.2M+3.0% | $25.3M-5.3% | $24.4M-20.7% | N/A | $23.5M-9.7% | $26.7M-29.9% |
| Cost of Revenue | $4.9M-20.2% | $4.6M | $5.3M-13.2% | $5.5M-3.6% | $6.1M+5.8% | N/A | $6.1M+14.1% | $5.7M-6.6% |
| Gross Profit | $15.6M-14.6% | $14.7M | $18.9M+8.7% | $19.8M-5.8% | $18.3M-26.7% | N/A | $17.3M-15.9% | $21.0M-34.4% |
| R&D Expenses | $1.8M-22.1% | $1.9M | $2.0M+106.7% | $2.5M+122.6% | $2.3M+53.3% | N/A | $992K-42.2% | $1.1M+0.2% |
| SG&A Expenses | $11.6M+6.3% | $9.2M | $21.1M+119.5% | $12.0M+1.9% | $10.9M-9.0% | N/A | $9.6M-2.8% | $11.7M+7.1% |
| Operating Income | -$633K-183.1% | $757K | -$7.7M-512.7% | $1.2M-70.5% | $762K-89.6% | N/A | $1.9M-58.9% | $4.0M-74.6% |
| EBITDA | $23K-98.2% | $1.4M | -$7.1M-399.9% | $1.8M-59.9% | $1.3M-83.0% | N/A | $2.4M-51.5% | $4.4M-72.4% |
| Interest Expense | $1.3M-48.7% | $2.2M | $2.4M-17.9% | $2.4M-11.6% | $2.6M-6.5% | N/A | $3.0M+5.8% | $2.7M+3.1% |
| Income Tax | -$10K-117.9% | -$1.3M | -$16K-102.3% | $80K-94.4% | $56K-97.7% | N/A | $688K-55.1% | $1.4M-65.3% |
| Net Income | -$460K-174.6% | $1.7M | -$7.6M-626.7% | $1.0M-64.4% | $617K-87.9% | N/A | $1.4M-52.1% | $2.9M-74.5% |
| EPS (Basic) | $0.00-100.0% | $0.01+100.8% | -$0.06-700.0% | $0.01-50.0% | $0.01-75.0% | -$1.21-2925.0% | $0.01-50.0% | $0.02-77.8% |
| EPS (Diluted) | $0.00-100.0% | $0.01+100.8% | -$0.06-700.0% | $0.01-50.0% | $0.01 | -$1.21-2925.0% | $0.01-50.0% | $0.02-77.8% |
| Diluted Shares (Avg) | 118M-1.5% | N/A | 118M-1.1% | 119M-0.3% | 120M | N/A | 119M-1.5% | 119M-1.8% |
LPRO Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $231.1M-24.0% | $236.7M-20.1% | $287.7M-27.3% | $296.7M-22.5% | $304.2M-20.1% | $296.4M-20.8% | $395.7M+3.2% | $382.8M-1.0% |
| Current Assets | $218.1M-21.5% | $222.7M-19.2% | $272.6M-7.5% | $267.1M-8.9% | $277.8M-4.4% | $275.7M-4.9% | $294.7M+0.3% | $293.2M+3.1% |
| Cash & Equivalents | $173.3M-26.6% | $176.6M-27.4% | $222.1M-11.2% | $230.7M-7.0% | $236.2M-4.4% | $243.2M+1.2% | $250.2M+7.6% | $248.0M+10.5% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $4.8M-14.3% | $3.7M-27.7% | $4.4M-3.2% | $4.4M-0.7% | $5.5M-3.5% | $5.1M+9.5% | $4.6M-13.3% | $4.4M-29.9% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $155.8M-30.6% | $161.7M-25.9% | $214.8M+22.6% | $217.7M+31.1% | $224.4M+32.7% | $218.3M+29.6% | $175.2M+3.9% | $166.0M-1.0% |
| Current Liabilities | $49.1M+9.9% | $49.3M+4.2% | $48.8M+55.9% | $47.1M+114.2% | $44.7M+102.2% | $47.3M+129.5% | $31.3M+56.6% | $22.0M+22.5% |
| Non-Current Liabilities | $106.6M-40.7% | $112.5M-34.2% | $166.1M+15.4% | $170.6M+18.4% | $179.7M+22.3% | $171.0M+15.7% | $144.0M-3.2% | $144.0M-3.8% |
| Long-Term Debt | $75.4M-42.2% | $77.3M-41.6% | $126.9M-5.3% | $128.6M-5.3% | $130.4M-5.8% | $132.2M-5.1% | $134.0M-5.1% | $135.8M-4.4% |
| Total Equity | $75.3M-5.7% | $75.0M-4.0% | $72.8M-67.0% | $78.9M-63.6% | $79.8M-62.3% | $78.1M-62.0% | $220.5M+2.7% | $216.8M-1.1% |
| Retained Earnings | -$333.5M-1.6% | -$333.0M-1.3% | -$334.7M-81.6% | -$327.1M-76.1% | -$328.1M-73.9% | -$328.8M-69.7% | -$184.3M+2.4% | -$185.8M+3.2% |
Not reported in any period shown, so not listed: Inventory, Goodwill.
LPRO Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$764K+80.1% | $5.5M+261.3% | -$5.7M-149.7% | $848K+160.3% | -$3.8M-134.9% | -$3.4M-120.2% | $11.4M-44.0% | -$1.4M-108.8% |
| Depreciation & Amortization | $656K+20.6% | $653K+66.2% | $623K+26.1% | $590K+42.2% | $544K+46.2% | $393K+17.3% | $494K+50.6% | $415K+64.7% |
| Stock-Based Compensation | $1.1M-38.7% | N/A | N/A | N/A | $1.8M-0.4% | N/A | N/A | N/A |
| Capital Expenditures | $0-100.0% | $0-100.0% | $0-100.0% | $11K-78.4% | $45K | $4K-80.0% | $110K+323.1% | $51K+24.4% |
| Free Cash Flow | -$764K+80.3% | $5.5M+261.1% | -$5.7M-150.2% | $837K+157.4% | -$3.9M-135.3% | -$3.4M-120.2% | $11.3M-44.5% | -$1.5M-109.1% |
| Investing Cash Flow | -$289K+52.3% | -$119K+89.7% | -$77K+92.4% | -$228K+79.0% | -$606K+5.6% | -$1.2M-96.3% | -$1.0M-35.6% | -$1.1M-113.8% |
| Financing Cash Flow | -$2.2M+15.9% | -$50.8M-1944.3% | -$1.9M+0.4% | -$6.1M-5184.5% | -$2.6M-34.4% | -$2.5M+68.5% | -$1.9M+82.8% | -$116K+89.3% |
| Share Buybacks | N/A | $934K | $0 | N/A | N/A | $0-100.0% | $0-100.0% | $0 |
Not reported in any period shown, so not listed: Dividends Paid.
LPRO Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 76.3%+1.2pp | 76.0% | 78.0%+4.1pp | 78.2%-0.4pp | 75.1%-6.2pp | N/A | 73.9%-5.4pp | 78.6%-5.3pp |
| Operating Margin | -3.1%-6.2pp | 3.9% | -31.9%-39.8pp | 4.7%-10.3pp | 3.1%-20.7pp | N/A | 8.0%-9.5pp | 14.9%-26.3pp |
| Net Margin | -2.2%-4.8pp | 8.7% | -31.3%-37.4pp | 4.1%-6.8pp | 2.5%-14.0pp | N/A | 6.1%-5.4pp | 10.9%-18.9pp |
| Return on Equity | -0.6%-1.4pp | 2.2% | -10.4%-11.0pp | 1.3%0.0pp | 0.8%-1.6pp | N/A | 0.7%-0.8pp | 1.3%-3.9pp |
| Return on Assets | -0.2%-0.4pp | 0.7% | -2.6%-3.0pp | 0.4%-0.4pp | 0.2%-1.1pp | N/A | 0.4%-0.4pp | 0.8%-2.2pp |
| Current Ratio | 4.44-1.8x | 4.52-1.3x | 5.59-3.8x | 5.67-7.7x | 6.21-6.9x | 5.84-8.2x | 9.42-5.3x | 13.32-2.5x |
| Debt-to-Equity | 1.00-0.6x | 1.03-0.7x | 1.74+1.1x | 1.63+1.0x | 1.63+1.0x | 1.69+1.0x | 0.610.0x | 0.630.0x |
| Asset Turnover | 0.090.0x | 0.08 | 0.080.0x | 0.090.0x | 0.080.0x | N/A | 0.060.0x | 0.070.0x |
| FCF Margin | -3.7%+12.2pp | 28.2% | -23.4%-71.4pp | 3.3%+8.8pp | -15.9%-51.7pp | N/A | 48.0%-30.1pp | -5.5%-47.5pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Open Lending Corporation LPRO | FY2025 | $93.2M | -$4.2M | -4.5% | $371.5M | 45/100 |
| Medallion Financial Corp MFIN | FY2025 | $254.9M | $43.0M | 16.9% | $276.7M | 22/100 |
| Finance of America Companies Inc. FOA | FY2025 | $497.4M | $45.2M | 9.1% | $140.7M | 24/100 |
| Oportun Financial Corporation OPRT | FY2025 | $405.8M | $25.2M | 6.2% | $361.9M | 15/100 |
| Consumer Portfolio Services CPSS | FY2025 | $434.5M | $19.3M | 4.5% | $203.3M | 29/100 |
| CPI Card Group Inc. PMTS | FY2025 | $543.5M | $14.9M | 2.8% | $260.8M | 61/100 |
Where Open Lending Corporation Ranks
Frequently Asked Questions
What is Open Lending Corporation's annual revenue?
Open Lending Corporation (LPRO) reported $93.2M in total revenue for fiscal year 2025. This represents a 288.0% 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 grew by 288.0% year-over-year, from $24.0M to $93.2M in fiscal year 2025.
Is Open Lending Corporation profitable?
No, Open Lending Corporation (LPRO) reported a net income of -$4.2M in fiscal year 2025, with a net profit margin of -4.5%.
What is Open Lending Corporation's EBITDA?
Open Lending Corporation (LPRO) had EBITDA of -$2.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Open Lending Corporation have?
As of fiscal year 2025, Open Lending Corporation (LPRO) had $176.6M in cash and equivalents against $77.3M in long-term debt.
What is Open Lending Corporation's gross margin?
Open Lending Corporation (LPRO) had a gross margin of 76.9% in fiscal year 2025, 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 -5.4% in fiscal year 2025, 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 -4.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Open Lending Corporation's return on equity (ROE)?
Open Lending Corporation (LPRO) has a return on equity of -5.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Open Lending Corporation's free cash flow?
Open Lending Corporation (LPRO) recorded an outflow of $3.3M in free cash flow during fiscal year 2025. This represents a -118.6% 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) recorded an outflow of $3.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Open Lending Corporation's total assets?
Open Lending Corporation (LPRO) had $236.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Open Lending Corporation's capital expenditures?
Open Lending Corporation (LPRO) invested $56K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Open Lending Corporation spend on research and development?
Open Lending Corporation (LPRO) invested $8.8M in research and development during fiscal year 2025.
What is Open Lending Corporation's current ratio?
Open Lending Corporation (LPRO) had a current ratio of 4.52 as of fiscal year 2025, 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 1.03 as of fiscal year 2025, 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 -1.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Open Lending Corporation's Altman Z-Score?
Open Lending Corporation (LPRO) has an Altman Z-Score of 0.61, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Open Lending Corporation's Piotroski F-Score?
Open Lending Corporation (LPRO) has a Piotroski F-Score of 6 out of 9, indicating neutral 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 to 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) reported a net loss of $4.2M while operations used $3.2M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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) reported an operating loss of $5.0M against $9.7M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 45 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.