Business
Open Lending Announces Second Quarter 2020 Certified Loans
The Company will Host its Second Quarter 2020 Earnings Call on August 11, 2020 AUSTIN, Texas, July 16, 2020 (GLOBE NEWSWIRE) -- Open Lending Corporation
About this update from Open Lending Corporation
[{"type":"text","content":"The Company will Host its Second Quarter 2020 Earnings Call on August 11, 2020\nAUSTIN, Texas, July 16, 2020 (GLOBE NEWSWIRE) -- Open Lending Corporation (NASDAQ: LPRO) (“Open Lending”), a leading provider of lending enablement and risk analytics solutions to financial institutions, today announced it certified over 18,680 loans in the second quarter 2020, of which, approximately 7,100 loans were certified in the month of June (“certs”). The second quarter 2020 certs represent a 39% increase to the midpoint of the revised guidance and ahead of the high end of the revised guidance for the quarter. Open Lending’s certification volume is up 26% year-to-date.\n John Flynn, CEO and President of Open Lending commented, “We continued to see momentum in our certification volumes throughout June as markets began to open up. These results were ahead of our revised guidance for the quarter, primarily driven by pent up demand and increased used car sales as commuters are reluctant to take public transportation. Lenders have been resilient with our current partners continuing to utilize our platform and we have added 28 new lenders onto the platform year-to-date, resulting in a net increase in lenders over the same period.” Open Lending also announced that the Company will host a conference call to discuss second quarter 2020 financial results on Tuesday, August 11, 2020 at 4:00pm CT. Hosting the call will be John Flynn and Ross Jessup, Chief Financial Officer and Chief Operating Officer. A press release with second quarter 2020 financial results will be issued after the market closes that same day. The conference call will be webcast live from the Company's investor relations website at https://investors.openlending.com/ under the “Events” section. A replay will be available two hours after the call and can be accessed by dialing (844) 512-2921 or (412) 317-6671 for international callers; the conference ID is 13706479. The replay will be available until Tuesday, August 25, 2020. An archive of the webcast will be available at the same location on the website shortly after the call has concluded. About Open Lending Open Lending, through its flagship product, Lenders Protection, offers loan analytics, risk-based pricing, risk modeling and default insurance, ensuring profitable auto loan portfolios for financial institutions throughout the Unit...