Openlane, Inc. · NYSE:OPLN
Openlane — Q3 2026 Earnings Presentation
24 slides from Openlane's earnings presentation, Nov 4, 2026
Slide 1: Q3 2026 Earnings
1 Q2 | 2026 Q3 2026 Earnings November 4, 2026
Slide 2: Forward-Looking Statements
2 Q3 | 2026 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
Slide 3: Letter to Stockholders
3 Q2 | 20263 Letter to Stockholders Peter Kelly, CEO The positive momentum OPENLANE sustained in the third quarter reinforces the strength of our strategy and the differentiated value we deliver. On a consolidated basis, we grew revenue by 13%, delivered Adjusted EBITDA of $107 million and generated
Slide 4: About Our Company
Q3 | 2026 4 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. Marketplace Segment About Our Company Two Business Segm
Slide 5: Marketplace Segment: OPENLANE Digital Marketplace Leader
Q3 | 2026 5 total vehicles sold average listings per month gross merchandise value 1.7M 200K+ $37B Commercial 40+ exclusive OEM & financial institution customers Marketplace Segment: OPENLANE Digital Marketplace Leader With Deep Strength in Dealer & Commercial Vehicles Dealer 50K active buyers and s
Slide 6: Finance Segment: AFC
Q3 | 2026 6 Floorplan Lifecycle Finance Segment: AFC Highly Digital Model With Localized Approach Finance Purchase1 Manage Account Add Ancillary Services Payoff Vehicle Application Underwriting finance transactions 1.7M 1.5-2% 15K unique independent dealers $2.5B average receivables managed 1 Includ
Slide 7: Highly Synergistic Business Model
Q3 | 2026 7 Highly Synergistic Business Model Marketplace Segment Finance Segment Cross-pollination of dealer recruitment & engagement Dealer credit drives transactions & wallet-share Bundled products, services & promotions Cash generation for investment in innovation
Slide 8: Q3 2026 Financial Highlights
8 Q2 | 2026 Financial Highlights
Slide 9: Q3 2026 Financial Highlights
Q3 | 2026 9 Q3 2026 Financial Highlights Q3’26 Q3’25 YOYΔ Revenue $561.2M $498.4M 13% Net Income $44.7M $47.9M (7%) Adjusted EBITDA $106.8M $87.1M 23% Adjusted EBITDA Margin 19.0% 17.5% 150 bps Cash Flow from Operating Activities $97.1M $72.2M 34% Adjusted Free Cash Flow $124.2M $4.6M 2600% Net Inco
Slide 10: Q3 2026 Financial Trends
Q3 | 2026 10 Growth Profitability Cash Generation YOY Growth 8% 9% 15% 15% 13% Adjusted EBITDA Margin 17% 15% 18% 19% 19% Adjusted EBITDA Net IncomeRevenue Excl. Purchased Vehicles Adjusted FCF Cash Flow from Operating ActivitiesPurchased Vehicles Adjusted FCF Conversion (TTM) 61% 89% 75% 62% 90% Q3
Slide 11: Q3 2026 Operational Marketplace Metrics
Q3 | 2026 11 DealerCommercial GMV ($B) Units (000s) Yield (%)GMV ($B) Units (000s) Yield (%) Q3 2026 Operational Marketplace Metrics Gross merchandise value (“GMV”) represents the total dollar value of vehicles sold through our marketplaces. Yield represents Auction and Related Fees divided by GMV.
Slide 12: Q3 2026 Operational AFC Metrics
Q3 | 2026 12 Q3 2026 Operational AFC Metrics Net Finance Margin2 Loan Loss Rate 1 Calculated based on the daily ending balance of total receivables managed. 2 Net Finance Margin was previously labeled "Net Finance Yield." There has been no change to the underlying metric. Avg Receivables Managed1 ($
Slide 13: Full-Year FY26 Guidance
Q3 | 2026 13 Full-Year FY26 Guidance 2026 Guidance (In millions, except per share amounts) Previous Guidance (August 4, 2026) Revised Guidance (November 4, 2026) Adjusted EBITDA $385 to $400 $390 to $400 Operating Adjusted EPS $1.40 to $1.50 $1.45 to $1.52 Capital Expenditures $55 to $60 $55 to $60
Slide 14: Upcoming Investor Events
Q3 | 2026 14 Upcoming Investor Events DATE & LOCATION CONFERENCE PARTICIPANTS NOV 17–19 Nashville, Tennessee Stephens Annual Investment Conference Fireside Chat: Nov. 17 at 8:45 a.m. CT Brad Herring, EVP & CFO James Coyle, EVP & President, Marketplace NOV 30–DEC 3 Scottsdale, Arizona UBS Global Tech
Slide 15: Reconciliations and Other
15 Q2 | 2026 Reconciliations and Other
Slide 16: Quarterly Revenue
Q3 | 2026 16 Quarterly Revenue ($ in millions), (Unaudited) 2024 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Operating revenues Auction and related fees $180.4 $182.7 $188.2 $184.0 $198.9 $213.9 $215.2 $205.5 $241.8 $259.0 $253.2 SaaS and other revenue 79.7 73.1 73.1 69.2 66.6 63.1 65.3 62.1 67.5 73.
Slide 17: Q3 2026 Adjusted EBITDA Reconciliation
Q3 | 2026 17 Q3 2026 Adjusted EBITDA Reconciliation ($ in millions), (Unaudited) Three Months ended September 30, 2026 Marketplace Finance Consolidated Net income $14.1 $30.6 $44.7 Add back: Income taxes 5.2 10.2 15.4 Finance interest expense - 28.2 28.2 Interest expense, net of interest income 9.0
Slide 18: Q2 2026 Adjusted EBITDA Reconciliation
Q3 | 2026 18 Q2 2026 Adjusted EBITDA Reconciliation ($ in millions), (Unaudited) Three Months ended June 30, 2026 Marketplace Finance Consolidated Net income $15.1 $29.2 $44.3 Add back: Income taxes 7.4 9.4 16.8 Finance interest expense - 25.7 25.7 Interest expense, net of interest income 9.0 - 9.0
Slide 19: Q1 2026 Adjusted EBITDA Reconciliation
Q3 | 2026 19 Q1 2026 Adjusted EBITDA Reconciliation ($ in millions), (Unaudited) Three Months ended March 31, 2026 Marketplace Finance Consolidated Net income $21.2 $27.7 $48.9 Add back: Income taxes 7.2 9.2 16.4 Finance interest expense - 24.8 24.8 Interest expense, net of interest income 9.7 - 9.7
Slide 20: Q4 2025 Adjusted EBITDA Reconciliation
Q3 | 2026 20 Q4 2025 Adjusted EBITDA Reconciliation ($ in millions), (Unaudited) Three Months ended December 31, 2025 Marketplace Finance Consolidated Net income $25.8 $33.7 $59.5 Add back: Income taxes (30.9) 3.1 (27.8) Finance interest expense - 27.3 27.3 Interest expense, net of interest income 9
Slide 21: Q3 2025 Adjusted EBITDA Reconciliation
Q3 | 2026 21 Q3 2025 Adjusted EBITDA Reconciliation ($ in millions), (Unaudited) Three Months ended September 30, 2025 Marketplace Finance Consolidated Net income $18.5 $29.4 $47.9 Add back: Income taxes 0.8 7.4 8.2 Finance interest expense - 28.1 28.1 Interest expense, net of interest income 0.6 -
Slide 22: Operating Adjusted EPS Reconciliation
Q3 | 2026 22 Operating Adjusted EPS Reconciliation ($ in millions, except per share amounts), (Unaudited) Three Months ended September 30, 2026 2025 Net income $44.7 $47.9 Acquired amortization expense 7.8 8.4 Loss on extinguishment of debt 0.7 - ERP implementation costs 0.6 - Transaction-related co
Slide 23: Adjusted Free Cash Flow Reconciliation
Q3 | 2026 23 Adjusted Free Cash Flow Reconciliation ($ in millions), (Unaudited) 2024 2025 2026 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Net cash provided by operating activities $122.4 $32.7 $122.6 $71.6 $72.2 $125.5 $159.6 $52.8 $97.1 Purchases of property, equipment and computer software (13.1) (14.0) (11.9) (
Slide 24: 2026 Guidance Reconciliation
Q3 | 2026 24 2026 Guidance Reconciliation 2026 GUIDANCE - PREVIOUS 2026 GUIDANCE - REVISED (In millions, except per share amounts) (Unaudited) Low High Low High Net income $163 $176 $169 $177 Add back: Income taxes 59 63 61 64 Finance interest expense 106 106 107 107 Interest expense, net of interes