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Open Lending Corporation  (LPRO)
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Price: $6.6400 $-0.03 -0.450%
Day's High: $6.94 Week Perf: -5.28 %
Day's Low: $ 6.61 30 Day Perf: -20.67 %
Volume (M): 267 52 Wk High: $ 11.99
Volume (M$): $ 1,775 52 Wk Avg: $8.03
Open: $6.66 52 Wk Low: $4.89



 Market Capitalization (Millions $) 814
 Shares Outstanding (Millions) 123
 Employees 200
 Revenues (TTM) (Millions $) 128
 Net Income (TTM) (Millions $) 22
 Cash Flow (TTM) (Millions $) 38
 Capital Exp. (TTM) (Millions $) 2

Open Lending Corporation
Open Lending Corporation is a financial technology company that specializes in providing loan analytics, risk modeling, and lending automation platforms to financial institutions. The company was founded in 2000 and is based in Austin, Texas.

Open Lending's flagship platform is Lenders Protection, which is designed to enhance the credit portfolio of financial institutions by reducing risk exposure and improving the credit decisioning process. Lenders Protection enables financial institutions to approve and fund loans for borrowers who do not meet traditional underwriting standards, while still maintaining an acceptable level of risk.

The platform consists of several modules, including:

1. Loan analytics e This module provides insight into loan performance, risk, and profitability. It helps financial institutions identify trends and areas of concern, and optimize loan pricing and underwriting guidelines.

2. Risk modeling e This module is based on machine learning and statistical modeling techniques, and is used to predict borrower behavior and potential losses. Financial institutions can use this information to make more informed lending decisions.

3. Lending automation e This module streamlines the loan origination process, reducing costs and time-to-fund. It integrates with the financial institution's existing systems and can be used for various loan types, including auto, personal, and small business loans.

Open Lending works with a wide range of financial institutions, including banks, credit unions, and other lenders. The company has over 800 customer relationships and has facilitated the funding of over 5 million loans since its founding.

In addition to Lenders Protection, Open Lending offers other products and services, including training and support, compliance services, and custom analytics. The company is committed to delivering innovative solutions that help financial institutions grow their loan portfolios, while also managing risk and complying with regulatory requirements.


   Company Address: 1501 S. MoPac Expressway Suite #450 Austin 78746 TX
   Company Phone Number: 892-0400   Stock Exchange / Ticker: NASDAQ LPRO
   


   

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Open Lending Corporation

Open Lending Corporation Surges Ahead with Record Revenue Growth in Q4 2023

Open Lending Corporation recently reported its financial results for the fourth quarter and full year ended on December 31, 2023. The company revealed that it experienced a significant increase in revenue of 117.673% year on year, reaching $58.38 million for the October to December period. However, despite this impressive growth in revenue, Open Lending also saw an increase in its loss per share, standing at $-0.04 compared to the prior reporting period where earnings per share were $0.02.
This mixed performance raises questions about the company's future trajectory. The decline in earnings per share and the slower growth in revenue compared to the previous year's corresponding period could indicate potential challenges ahead. Additionally, Open Lending Corporation realized a net loss of $-4.842 million in the fourth quarter of 2023, larger than the loss of $-4.189 million recorded a year ago.
One notable factor that might impact the company's performance going forward is the decrease in accounts receivable, which currently stands at $4.6 million. Some analysts suggest that this decline is due to slowing demand, implying that Open Lending Corporation might struggle to maintain its revenue growth in the future.
Despite these potential concerns, Open Lending Corporation aims to disrupt the automotive lending sector by challenging traditional underwriting practices. The company has released its highly anticipated 2024 Vehicle Accessibility Report, which highlights how these outdated practices have marginalized countless creditworthy near- and non-prime consumers. By offering valuable insights, Open Lending hopes to enable automotive lenders to extend reasonable loan opportunities to these underserved borrowers.

Product Service News

Open Lending's Revolutionary Partnerships Drive Financial Inclusion in Automotive Lending

Published Wed, Feb 28 2024 1:00 PM UTC

In a move to revolutionize the automotive lending sector, Open Lending Corporation has released its highly anticipated 2024 Vehicle Accessibility Report. The report sheds light on how traditional underwriting practices have marginalized and excluded numerous creditworthy near- and non-prime consumers. By offering valuable insights, Open Lending aims to empower automotive len...

Product Service News

Increasing Access to Auto Ownership for ITIN Holders: Open Lending's Innovative Solutions

Published Thu, Feb 22 2024 10:30 PM UTC

Open Lending Corporation (NASDAQ: LPRO) is a pioneering company in automotive lending enablement and risk analytics solutions for financial institutions. The company's recent data release showcases how their offerings are creating new avenues for individuals with Individual Taxpayer Identification Numbers (ITIN) to access automotive financing and ultimately achieve auto owne...

Product Service News

Open Lending Corporation Collaborates with Akur8 to Strengthen Predictive Lending Model and Drive Revenue Growth

Published Tue, Feb 20 2024 1:15 PM UTC

Open Lending Corporation, a pioneer in automotive lending enablement and risk analytics solutions for financial institutions, has recently entered into a partnership with Akur8, an innovative insurance pricing solution provider. This collaboration aims to enhance Open Lending's proprietary Lenders Protection platform by incorporating Akur8's fast and accurate predictive insu...

Product Service News

Open Lending and Automatic Combine Forces to Revolutionize Indirect Lending Opportunities in the Automotive Industry

Published Mon, Jan 29 2024 1:15 PM UTC

Open Lending Corporation (NASDAQ: LPRO) has recently announced its partnership with Automatic, a platform that connects automotive lenders with independent, used vehicle dealerships. This collaboration aims to expand indirect lending opportunities for Lenders Protection users, by providing them with instant and accurate decisions. Open Lending, known for its expertise in aut...






 

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