Openlane, Inc. · NYSE:OPLN
Openlane — Q2 2025 Earnings Presentation
22 slides from Openlane's earnings presentation, Aug 6, 2025
Slide 1: Q2 2025 Earnings
Q2 2025 Earnings August 6, 2025 Q2 | 2025 1
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: Letter to Stockholders
Letter to Stockholders OPENLANE delivered a strong second quarter of growth, profitability and cash generation, including a 9% consolidated revenue growth and $87 million in adjusted EBITDA. This growth is a direct result of our strategic investments in people, technology and our go-to-market approa
Slide 4: About Our Company Strategic Differentiators
About Our Company Strategic Differentiators We connect the leading automotive manufacturers, dealers, rental companies, fleet operators, captive finance and lending institutions as buyers and sellers to create the most advanced digital marketplace for wholesale used vehicles. Best Marketplace Our Pu
Slide 5: Marketplace Segment: OPENLANE
Marketplace Segment: OPENLANE Digital Marketplace Leader With Deep Strength in Dealer & Commercial Vehicles 1.4M Dealer 50K active buyers and sellers in Commercial 40+ exclusive OEM & financial total vehicles sold the marketplace institution customers in 2024 $27B gross merchandise value in 2024 200
Slide 6: Finance Segment: AFC
Finance Segment: AFC Highly Digital Model With Localized Approach 1.6M Finance Manage Purchase1 Account vehicle finance transactions in 2024 Application Floorplan 15K Lifecycle unique independent dealers Underwriting $2B+ Payoff Vehicle Add Ancillary Services outstanding floorplan loans Q2 | 2025 1
Slide 7: Highly Synergistic Business Model
Highly Synergistic Business Model Cross-pollination of dealer recruitment & engagement Bundled products, services & promotions Marketplace Segment Dealer credit drives Finance Segment transactions & wallet-share Cash generation for investment in innovation Q2 | 2025 7
Slide 8: Financial Highlights
Financial Highlights Q2 | 2025 8
Slide 9: Q2 2025 Financial Highlights
Q2 2025 Financial Highlights Q2’25 Q2’24 YOYΔ Revenue1 $481.7M $443.8M 9% Income from Continuing Operations $33.4M $10.7M 212% Adjusted EBITDA $86.7M $71.4M 21% Adjusted EBITDA Margin1 18.0% 16.1% 190 bps Cash Flow from Operating Activities $71.6M $37.5M 91% Adjusted Free Cash Flow $86.5M $64.6M 34%
Slide 10: Q2 2025 Financial Trends
Q2 2025 Financial Trends Growth Profitability Cash Generation Revenue Excl. Purchased Vehicles Purchased Vehicles Adjusted EBITDA Income from Continuing Operations Adjusted FCF Cash Flow from Operating Activities YOY Growth Adjusted EBITDA Margin Adjusted FCF Conversion (TTM) 3% 7% 12% 7% 9% 16% 16%
Slide 11: Appendix
Appendix Q2 | 2025 11
Slide 12: Q2 2025 Operational Marketplace Metrics
Q2 2025 Operational Marketplace Metrics Commercial Dealer GMV ($B) Volume (000s) GMV ($B) Volume (000s) Q2 | 2025 12
Slide 13: Q2 2025 Operational AFC Metrics
Q2 2025 Operational AFC Metrics Avg Receivables Net Finance Yield Loan Loss Rate Managed1 Avg Receivables Managed1 Q2 | 2025 1 Calculated based on the daily ending balance of total receivables managed. 13
Slide 14: Full-Year FY25 Guidance Summary
Full-Year FY25 Guidance Summary Revised guidance is based on Income from Continuing Operations of $132 million to $140 million and Income from Continuing Operations per Share of $0.61 to $0.66 (up from previous guidance of $100 million to $114 million and $0.38 to $0.48, respectively). 2025 Guidance
Slide 15: Q2 2025 Adjusted EBITDA Reconciliation
Q2 2025 Adjusted EBITDA Reconciliation ($ in millions), (Unaudited) Three Months ended June 30, 2025 Marketplace Finance Consolidated Income from continuing operations $8.6 $24.8 $33.4 Add back: Income taxes 7.5 10.8 18.3 Finance interest expense - 26.9 26.9 Interest expense, net of interest income
Slide 16: Q1 2025 Adjusted EBITDA Reconciliation
Q1 2025 Adjusted EBITDA Reconciliation ($ in millions), (Unaudited) Three Months ended March 31, 2025 Marketplace Finance Consolidated Income from continuing operations $7.3 $29.6 $36.9 Add back: Income taxes 5.8 10.0 15.8 Finance interest expense - 27.6 27.6 Interest expense, net of interest income
Slide 17: Q4 2024 Adjusted EBITDA Reconciliation
Q4 2024 Adjusted EBITDA Reconciliation ($ in millions), (Unaudited) Three Months ended December 31, 2024 Marketplace Finance Consolidated Income from continuing operations $25.9 $26.4 $52.3 Add back: Income taxes 7.3 9.4 16.7 Finance interest expense - 28.3 28.3 Interest expense, net of interest inc
Slide 18: Q3 2024 Adjusted EBITDA Reconciliation
Q3 2024 Adjusted EBITDA Reconciliation ($ in millions), (Unaudited) Three Months ended September 30, 2024 Marketplace Finance Consolidated Income from continuing operations $4.8 $23.6 $28.4 Add back: Income taxes 5.0 8.1 13.1 Finance interest expense - 30.7 30.7 Interest expense, net of interest inc
Slide 19: Q2 2024 Adjusted EBITDA Reconciliation
Q2 2024 Adjusted EBITDA Reconciliation ($ in millions), (Unaudited) Three Months ended June 30, 2024 Marketplace Finance Consolidated Income (loss) from continuing operations ($16.1) $26.8 $10.7 Add back: Income taxes (1.2) 8.7 7.5 Finance interest expense - 31.9 31.9 Interest expense, net of intere
Slide 20: Operating Adjusted Income per Share Reconciliation
Operating Adjusted Income per Share Reconciliation ($ in millions, except per share amounts), (Unaudited) Three Months ended June 30, 2025 2024 Income from continuing operations $33.4 $10.7 Acquired amortization expense 8.3 9.1 Impact for newly enacted Canadian DST related to prior years - 10.0 Loss
Slide 21: Adjusted Free Cash Flow Reconciliation
Adjusted Free Cash Flow Reconciliation ($ in millions), (Unaudited) 2023 2024 2025 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Net cash provided by operating activities $73.6 $20.8 $100.2 $37.5 $122.4 $32.7 $122.6 $71.6 Purchases of property, equipment and computer software (12.9) (12.2) (12.9) (13.0) (13.1) (14.0) (11
Slide 22: 2025 Guidance
2025 GUIDANCE - 2025 GUIDANCE - 2025 Guidance PREVIOUS REVISED (In millions, except per share amounts) (Unaudited) Low High Low High Income from continuing operations $100 $114 $132 $140 Add back: Income taxes 47 53 52 54 Finance interest expense 110 110 110 109 Interest expense, net of interest inc