Slide 1: Third Quarter 2024 Earnings Slides
Third Quarter 2024 Earnings Slides // November 6, 2024
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain statements contained in this presentation include, and OPENLANE may make related oral, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements made that are not historical facts (including b
Slide 3: 2024 Guidance
2024 Guidance The company is updating its annual guidance to the following: 2024 GUIDANCE (In millions, except per share amounts) (Unaudited) Low High Income from continuing operations $73 $81 Add back: Income taxes 40 45 Interest expense, net of interest income 144 142 Depreciation and amortization
Slide 4: Third Quarter & Year-to-Date Results
Third Quarter & Year-to-Date Results Q3 | 2024 4
Slide 5: OPENLANE Q3 & YTD 2024 Highlights
OPENLANE Q3 & YTD 2024 Highlights* ($ in millions, except per share amounts) OPENLANE Q3 2024 Q3 2023 YTD 2024 YTD 2023 Total operating revenues from continuing operations $448.4 $416.3 $1,296.5 $1,253.8 Gross profit** $196.4 $200.3 $584.7 $591.0 % of revenue** 43.8% 48.1% 45.1% 47.1% SG&A $99.4 $10
Slide 6: Marketplace Q3 & YTD 2024 Highlights
Marketplace Q3 & YTD 2024 Highlights* ($ in millions, except volumes) Marketplace Q3 2024 Q3 2023 YTD 2024 YTD 2023 Auction fees $113.2 $102.1 $331.8 $305.3 Service revenue $148.1 $153.9 $445.4 $475.2 Purchased vehicle sales $93.0 $60.6 $231.4 $176.5 Total Marketplace revenue from continuing operati
Slide 7: Finance Q3 & YTD 2024 Highlights
Finance Q3 & YTD 2024 Highlights* ($ in millions, except for revenue per loan transaction) Finance Q3 2024 Q3 2023 YTD 2024 YTD 2023 Interest income $56.1 $63.0 $176.6 $185.5 Fee income $47.1 $45.6 $141.5 $137.3 Other revenue $2.3 $2.7 $6.8 $9.8 Provision for credit losses ($11.4) ($11.6) ($37.0) ($
Slide 8: September 30, 2024 Leverage
September 30, 2024 Leverage (US$ in millions) Balance Maturity Revolving Credit Facility (Adjusted Term SOFR + 2.25%) $56 2028 Canadian Revolving Credit Facility (Adjusted Term CORRA +2.50%) - 2028 Senior Notes (Fixed 5.125%) 210 2025 Other 11 Total 277 Less: Cash and cash equivalents 132 Net Debt 1
Slide 9: Historical Data
Historical Data Q3 | 2024 9
Slide 10: Marketplace Metrics
Marketplace Metrics (Volumes in thousands) 3Q24 2Q24 1Q24 2023 4Q23 3Q23 2Q23 1Q23 Revenue1 ($M) $354.3 $336.0 $318.3 $1,251.7 $294.7 $316.6 $319.4 $321.0 Commercial vehicles sold 195 217 222 710 183 180 180 167 Dealer consignment 164 151 150 621 135 159 164 163 vehicles sold Total vehicles sold 359
Slide 11: Finance Metrics
Finance Metrics ($ in millions, except for revenue per loan transaction; LTUs in thousands) 3Q24 2Q24 1Q24 2023 4Q23 3Q23 2Q23 1Q23 Interest income $56.1 $59.5 $61.0 $248.4 $62.9 $63.0 $61.9 $60.6 Fee income $47.1 $45.9 $48.5 $183.3 $46.0 $45.6 $44.1 $47.6 Other revenue $2.3 $2.4 $2.1 $12.3 $2.5 $2.
Slide 12: Appendix
APPENDIX Q3 | 2024 12
Slide 13: Non-GAAP Financial Measures
Non-GAAP Financial Measures EBITDA is defined as net income (loss), plus interest expense net of interest income, income tax provision (benefit), depreciation and amortization. Adjusted EBITDA is EBITDA adjusted for the items of income and expense and expected incremental revenue and cost savings as
Slide 14: Q3 2024 Adjusted EBITDA Reconciliation
Q3 2024 Adjusted EBITDA Reconciliation ($ in millions) Three Months ended September 30, 2024 Marketplace Finance Consolidated Income from continuing operations $4.8 $23.6 $28.4 Add back: Income taxes 5.0 8.1 13.1 Interest expense, net of interest income 4.2 30.7 34.9 Depreciation and amortization 20
Slide 15: Q3 2023 Adjusted EBITDA Reconciliation
Q3 2023 Adjusted EBITDA Reconciliation ($ in millions) Three Months ended September 30, 2023 Marketplace Finance Consolidated Income (loss) from continuing operations ($19.3) $32.0 $12.7 Add back: Income taxes 2.0 10.7 12.7 Interest expense, net of interest income 4.3 34.2 38.5 Depreciation and amor
Slide 16: YTD 2024 Adjusted EBITDA Reconciliation
YTD 2024 Adjusted EBITDA Reconciliation ($ in millions) Nine Months ended September 30, 2024 Marketplace Finance Consolidated Income (loss) from continuing operations ($24.2) $81.8 $57.6 Add back: Income taxes 4.0 27.3 31.3 Interest expense, net of interest income 16.1 95.2 111.3 Depreciation and am
Slide 17: YTD 2023 Adjusted EBITDA Reconciliation
YTD 2023 Adjusted EBITDA Reconciliation ($ in millions) Nine Months ended September 30, 2023 Marketplace Finance Consolidated Income (loss) from continuing operations ($259.8) $91.4 ($168.4) Add back: Income taxes (37.9) 38.6 0.7 Interest expense, net of interest income 16.8 96.6 113.4 Depreciation
Slide 18: Operating Adjusted Net Income per Share Reconciliation
Operating Adjusted Net Income per Share Reconciliation ($ in millions, except per share amounts), (Unaudited) Three Months ended Nine Months ended September 30, September 30, 2024 2023 2024 2023 Net income (loss) from continuing operations (1) $28.4 $12.7 $57.6 ($168.4) Acquired amortization expense