Open Lending Corporation (LPRO) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

$8.8 million in total liabilities, of which $82.9 million was outstanding debt. During the quarter, we continued to make our scheduled principal payments on our senior secured term loan. In conjunction with our board, we remain committed to a disciplined approach to capital deployment, one that strengthens the balance sheet, reduces leverage over time, and preserves financial flexibility going forward. Our capital allocation priorities remain consistent. First, investing in the organic growth of the platform. Second, maintaining a strong balance sheet. And third, returning capital to shareholders through share repurchases when appropriate. In the first quarter, we did not repurchase any shares under our share repurchase program, partially due to the brief open trading window between the filing of our 2025 10K and the end of the quarter. As announced, our board recently extended the expiration of the program from May 2026 to May 2027 and increased the size of the program to $50 million, reflecting our continued commitment to recurring capital to shareholders over time. We have approximately $45.1 million remaining on our share repurchase program. Finally, I wanted to address our guidance. For the second quarter, we are expecting total certified loans to be between $22,000 and $25,000. For the full year, we continue to expect total certified loans to be between $100,000 and $110,000. At the midpoint of our guidance, this represents an 8% increase over our 2025 results. We are also continuing to expect adjusted EBITDA for the full year to be between $25 and $29 million. We intend to maintain our dedication to quality over quantity in our book of business, ensuring that this growth rate is additive to our loan portfolio. We enter the second quarter with improving daily C...