Open Lending Corporation · NASDAQ:LPRO

Open Lending — Q2 2024 Earnings Presentation

8 slides from Open Lending's earnings presentation, Aug 8, 2024

  1. Slide 1: Earnings Supplement Q2 2024

    Earnings Suppleme Q2 2024 Lenders powered by Protection | ©penLending

  2. Slide 2: Q2 2024 Financial Highlights

    Q2 2024 Financial Highlights Q2 2024 Q2 2023 Total Certs 28,963 34,354 Revenue $26.7 million $38.2 million Adj. EBITDA1 $9.9 million $20.7 million Adj. Operating Cash Flows2 $7.0 million $26.5 million (1) See reconciliation of GAAP to non-GAAP financial measures on page 5 (2) Defined as Adj. EBITDA,

  3. Slide 3: Key Performance Indicators

    Key Performance Indicators Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Certs Credit Union & Bank 22,038 27,047 43,116 53,409 OEM 6,925 7,307 14,036 13,353 Total Certs 28,963 34,354 57,152 66,762 Unit Economics Avg. Profit Share Revenue per Cert (1) $ 552 $ 553 $ 543 $ 5

  4. Slide 4: Financial Results

    Financial Results ($ in '000s) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenue Program fees $ 14,836 $ 17,893 $ 29,145 $ 35,194 Profit share 9,333 17,809 23,215 36,411 Claims administration and other service fees 2,558 2,452 5,112 4,910 Total revenue 26,727 38,154 5

  5. Slide 5: Reconciliation of GAAP to Non-GAAP Financial Measures

    Reconciliation of GAAP to Non-GAAP Financial Measures Adjusted EBITDA Three Months Ended June 30, Six Months Ended June 30, ($ in 000's) 2024 2023 2024 2023 Net income $ 2,902 $ 11,371 $ 7,989 $ 23,909 Non-GAAP adjustments: Interest expense 2,736 2,655 5,506 5,042 Income tax expense 1,438 4,140 3,87

  6. Slide 6: Cumulative Profit Share Revenue Change in Estimate

    Cumulative Profit Share Revenue Change in Estimate Q2 2024 negative change in estimate of $6.7 million is associated with cumulative previously reported profit share revenue of approximately $394 million(1). Cumulative change in estimate at Q2 2024 is negative $2.2 million(2). ($ in millions) $50 $3

  7. Slide 7: Changes in Contract Asset and Profit Share Revenue Estimates

    Changes in Contract Asset and Profit Share Revenue Estimates Changes in Contract Asset and Profit Share Revenue Estimate attributable to Realized Portfolio Performance versus Prospective Changes in Assumptions 7

  8. Slide 8: Total Current Share Count

    Total Current Share Count Shares In thousands Total Shares Outstanding August 8, 2024 119,252 Treasury Shares 8,946 Total Shares Issued 128,198 8

Open Lending — Q2 2024 Earnings Presentation on 6ix