Open Lending Corporation filings document the public-company disclosures of an automotive lending enablement and risk analytics provider. Its Form 8-K reports include operating and financial results, supplemental financial information, material-event disclosures and updates related to certified loans, revenue measures and platform initiatives.
The company’s proxy and governance filings cover board composition, committee assignments, director elections, executive and director transitions, compensation matters and shareholder voting items. Other filing categories address material agreements, capital-structure disclosure, indemnification arrangements, risk factors and corporate governance matters relevant to Open Lending’s auto-lender analytics, pricing, risk modeling and default-insurance business.
Open Lending Corporation reported Q1 2026 revenue of $20.5 million, down 16% from Q1 2025, and a small net loss of $0.5 million versus prior-year net income of $0.6 million.
The business certified 21,064 auto loans, a 24% decline, which drove a 25% drop in program fee revenue. Profit share revenue edged up as average profit share per loan increased, and gross margin held at 76%. Adjusted EBITDA was $2.0 million, down from $3.2 million. The company ended the quarter with $185.0 million in cash and restricted cash and $82.9 million outstanding on its Term Loan due 2027, with no revolver borrowings. The board later expanded the share repurchase program from $25.0 million to $50.0 million, leaving $20.1 million available as of March 31, 2026.
Open Lending Corporation reported softer first quarter 2026 results alongside a larger buyback. Revenue was $20.5 million, down from $24.4 million a year earlier, as certified loans fell to 21,064 from 27,638. Gross profit was $15.6 million versus $18.3 million, and the company posted a small net loss of $0.5 million compared with net income of $0.6 million.
Adjusted EBITDA was $2.0 million, down from $3.2 million, while management highlighted a shift toward higher-quality, credit union and bank loans, which represented 90.2% of certified loans. For 2026, the company guides to 100,000–110,000 total certified loans and full-year Adjusted EBITDA of $25–$29 million. The board also increased the share repurchase program from $25 million to $50 million and extended it to May 1, 2027, with $20.1 million remaining as of March 31, 2026.
Open Lending Corp ownership update: Whetstone Capital Advisors, LLC and Mr. David Atterbury report beneficial ownership of 3,799,105 shares of Common Stock, representing 3.2% of the class as reported in this Schedule 13G/A. The filing lists shared voting and dispositive power over the same 3,799,105 shares. The signature block is dated 05/01/2026 and the cover shows 03/31/2026 as the period referenced.
Open Lending Corporation is asking stockholders to vote at its virtual 2026 Annual Meeting on June 3, 2026. Proposals include electing two Class III directors, ratifying Ernst & Young LLP as auditor, an advisory say-on-pay vote, a stockholder-backed move to declassify the board, and a reverse stock split at a ratio between 1-for-5 and 1-for-7 with a proportional reduction in authorized common shares. The record date is April 6, 2026, with 118,217,082 common shares entitled to one vote each. The proxy also details board structure, committee composition, director compensation, and a pay-for-performance executive compensation program that delivered 2025 cash bonuses at 111.6% of target based on financial and operational goals.
Open Lending Corporation is soliciting proxies for its virtual 2026 Annual Meeting to be held June 3, 2026. The company asks shareholders to elect two Class III directors (including nominee William Dabbs Cavin), ratify Ernst & Young LLP as auditor, approve a nonbinding say-on-pay, approve a stockholder proposal to declassify the board, and approve a reverse stock split at a ratio between 1-for-5 and 1-for-7 with the exact ratio set at the board’s discretion. The record date was April 6, 2026, with 118,217,082 shares outstanding as of that date. The proxy discloses a Cooperation Agreement with Palogic to include Mr. Cavin as a nominee and support the declassification proposal. The proxy also details board composition, recent director departures and appointments, executive leadership changes (including CEO Jessica Buss and CFO Massimo Monaco appointments), 2025 compensation framework, 2025 LTI grants, and audit fees paid to Ernst & Young.
Open Lending Corp Chief Underwriting Officer Matthew Sather reported compensation-related equity activity involving restricted stock units (RSUs). On March 15, 2026, a total of 24,133 RSUs vested and converted into the same number of shares of Open Lending common stock.
To cover tax obligations, 7,070 shares of common stock were withheld and disposed of at a price of $1.45 per share, which is recorded with transaction code F as a tax-withholding disposition rather than an open-market sale. After these transactions, Sather directly owns 61,426 shares of Open Lending common stock, reflecting a routine compensation and tax-settlement event rather than a discretionary open-market trade.
Open Lending Corp General Counsel Ben Massey reported routine equity compensation activity involving restricted stock units on March 15, 2026. He exercised RSUs that converted into 24,736 shares of Open Lending common stock, consistent with each RSU representing one share upon vesting.
To cover tax obligations, 6,021 shares of common stock were withheld at a price of $1.45 per share, a non-market disposition coded as tax withholding. After these exercises and withholdings, Massey directly held 29,472 shares of Open Lending common stock. No open‑market purchases or sales were reported, and no derivative positions remained from these RSUs following conversion.
Open Lending Corp Chief Operating Officer Michelle Glasl reported vesting and conversion of restricted stock units into common stock. On March 15, 2026, she exercised derivative awards covering 18,000 restricted stock units, each representing one share of LPRO common stock.
Following the vesting, 5,760 common shares were withheld at $1.45 per share to cover tax obligations, and 12,240 common shares remained directly owned after these dispositions. The filing reflects routine equity compensation activity rather than open-market buying or selling.
Open Lending Corporation provides lending enablement and risk analytics to credit unions, regional banks, finance companies and automaker captive finance units. Its cloud-based Lenders Protection Platform (LPP) helps these automotive lenders serve near-prime and non-prime borrowers by combining risk-based pricing, real-time underwriting and default insurance.
Since 2000 the company has facilitated over one million automotive loans totaling more than $27.9 billion in originations and now serves 450 active lenders. Revenue comes from per-loan program fees, profit-sharing on insurance underwriting, and claims administration fees. In 2025, average program fees were $558 per loan and average profit share revenue was $298 per loan.
Open Lending partners with three A.M. Best–rated insurance carriers and, as of December 31, 2025, employed 164 people, primarily in Austin, Texas. Key risks highlighted include dependence on a concentrated group of top lenders and insurers, sensitivity to macroeconomic and interest rate conditions, complex regulatory oversight, data privacy and cybersecurity threats, model risk and the need to maintain accurate forecasting for profit-share revenue.