- In Q2 2025, Open Lending facilitated 26,522 certified loans, down from 28,963 in Q2 2024, reflecting tighter lending standards and targeted rate increases.
- Net income was $1 million in Q2 2025, down from $2.9 million in Q2 2024, and adjusted EBITDA was $4.1 million compared to $6.8 million in the prior year period.
- Operating expenses increased 9% year-over-year to $18.6 million, partly due to one-time severance charges, with further cost-saving measures planned for 2026.
- Profit share revenue per certified loan decreased to $289 in Q2 2025 from $552 in Q2 2024, reflecting a 72.5% loss ratio assumption and pricing adjustments.
- Program fee revenues were $14.9 million, profit share revenue was $8 million, and claims administration and other revenue totaled $2.4 million.
- The company repurchased approximately 2 million shares for $4 million in Q2 2025, with $21 million remaining in the repurchase program.
- Total revenue for Q2 2025 was $25.3 million, including an $8.3 million reduction in estimated profit share revenue from new originations compared to the prior year.
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Dafinchi