OPENLANE Inc. Stock Price, News & Analysis

OPENLANE (NYSE: KAR) has appointed Brad Herring as EVP and Chief Financial Officer, effective May 27, 2025. Herring brings over 30 years of experience in financial operations, investor relations, and business development to the digital marketplace for wholesale used vehicles.

Herring will lead all financial, reporting, and investor-facing functions, including capital investment strategy, reporting directly to CEO Peter Kelly. His previous experience includes CFO positions at notable companies like Enfusion (NYSE:ENFN), Shift4 Payments (NYSE:FOUR), and Elavon, along with leadership roles at Equifax, Delta Air Lines, and ING North America.

The appointment aligns with OPENLANE's vision to build the world's greatest digital marketplace for used vehicles, leveraging Herring's expertise in improving financial performance and strengthening investor relations.

OPENLANE (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, has scheduled its first quarter 2025 financial results release for Wednesday, May 7, 2025 after market close.

The company will host an earnings conference call and webcast at 5:00 p.m. ET on the same day. Investors can access the conference call by dialing 1-833-634-2155 and requesting to join the OPENLANE call. A live webcast will be available through the investor relations section of corporate.openlane.com, with a replay option available for a time after the call.

OPENLANE (NYSE: KAR) reported strong Q4 and full-year 2024 results, with notable growth in its marketplace business. Q4 highlights include a 9% YoY marketplace volume growth, with dealer volumes up 15%, consolidated revenue of $455 million (+12% YoY), and consolidated Adjusted EBITDA of $73 million (+18% YoY).

Full-year 2024 performance showed consolidated revenue of $1,789 million (+5% YoY), consolidated income from continuing operations of $110 million, and Adjusted EBITDA of $293 million (+8% YoY). The company's Gross Merchandise Value reached approximately $27 billion, representing a 12% YoY growth. The marketplace segment demonstrated particularly strong performance with Adjusted EBITDA of $135 million, up 24% YoY.

OPENLANE (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, has scheduled its fourth quarter and full year 2024 earnings release for Wednesday, February 19, 2025, after market close. The company will host an earnings conference call and webcast at 5:00 p.m. ET on the same day.

The earnings call will be led by CEO Peter Kelly and CFO Brad Lakhia. Interested parties can access the call by dialing 1-833-634-2155 and requesting to join the OPENLANE call. A live webcast will be available on the company's investor relations website, with a replay available for a time after the event.

OPENLANE (NYSE: KAR), a leading digital marketplace operator for wholesale used vehicles, announces a virtual Investor Update scheduled for Tuesday, November 19, 2024, from 10:00 a.m. to 10:45 a.m. ET. CEO Peter Kelly and leadership team members will present the company's strategy and provide enhanced disclosures about their finance business (AFC), followed by an interactive Q&A session.

The event will be accessible via video webcast through the company's investor relations website, with pre-registration available. A replay and supplemental slide deck will be provided post-event.

OPENLANE (NYSE: KAR) reported strong Q3 2024 financial results with total revenue of $448 million, up 8% YoY. The company achieved income from continuing operations of $28 million and adjusted EBITDA of $75 million, representing 10% YoY growth. Marketplace segment showed notable performance with revenue of $354 million (12% YoY growth) and adjusted EBITDA of $36 million (34% YoY growth). The company generated $260 million in year-to-date operating cash flow and increased its Gross Merchandise Value by 12% to nearly $7 billion. The board authorized a $5 million increase in share repurchase program, extending it through December 2025.

OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, has announced it will release its third quarter 2024 financial results after the market closes on Wednesday, Nov. 6, 2024. The company will host an earnings conference call and webcast at 5:00 p.m. ET on the same day.

The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. Interested parties can access the call by dialing 1-833-634-2155 and asking to join the OPENLANE call. A live webcast will be available on the investor relations section of corporate.openlane.com. Following the call, an archive of the webcast will be available for replay on the same website for a time.

OPENLANE (NYSE: KAR) has launched Code Boost IQ, a groundbreaking vehicle inspection enhancement for its US marketplace. This AI-powered tool translates complex OBD2 diagnostic codes into simple, visual alert banners, enabling dealers to make faster and more informed decisions when purchasing wholesale used vehicles.

Key features of Code Boost IQ include:

• Leverages AI and OPENLANE's vast data repository of over 1.2 million OBD2 scans
• Predicts codes indicating high probability of issues, repairs, or potential arbitration
• Displays color-coded, plain language alerts on vehicle condition reports
• Available on all dealer-consigned vehicles in OPENLANE's US marketplace

This innovation aims to simplify the wholesale vehicle buying process, increase transparency, and reduce the likelihood of code-based arbitrations.

OPENLANE, Inc. (NYSE: KAR) reported strong Q2 2024 financial results, demonstrating the power of its differentiated platform and scalability. Key highlights include:

• Total revenue of $432 million, up 4% YoY
• Marketplace revenue of $336 million, up 5% YoY
• Marketplace volumes increased 7% YoY
• Gross Merchandise Value (GMV) of ~$7 billion, up 6% YoY
• Income from continuing operations of $11 million
• Adjusted EBITDA of $71 million
• $138 million cash flow from operating activities YTD

The company updated its 2024 guidance due to Canada's retroactive Digital Services Tax, estimating $5 million in incremental cost of services for 2024.