Open Lending Corp. (NASDAQ: LPRO) stock declined by 5.48% at last close whereas the LPRO stock gains by 17.55% in the after-hours trading. Auto lenders across the country rely on Open Lending for loan analytics, risk-based pricing, risk modeling, and default insurance. They have been enabling banking institutions to build lucrative vehicle loan portfolios by answering “yes” to more auto loans for over 20 years.
>> 7 Top Picks for the Post-Pandemic Economy <<
LPRO stock, Financial Highlights
Open Lending reported its second quarter of 2021 financial results. The highlights are given below:
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
- In the second quarter of 2021 LPRO managed to facilitate 46,408 certified loans relative to 18,684 certified loans in Q2 2020.
- The total revenue generated for Q2 2021 was $61.1 million while for the second quarter of 2020 the revenue was $22.1 million.
- For the second quarter of 2021 gross profit was calculated as $57.0 million relative to $20.2 million for Q2 2020.
- The net income for the second quarter of 2021 was $76.0 million compared to the net loss of $49.8 million in Q2 2020.
- And lastly, the Adjusted EBTIDA for the second quarter of 2021 was $46.1 million while for the second quarter of 2020 it was $15.4 million.
Read More
John Flynn, Chairman, and CEO of Open Lending stated,
They’re making headway on their expansion goals, which include helping underprivileged individuals receive vehicle loans and capturing more of the $250 billion potential market. LPRO struck an arrangement with a third insurance partner, American National, during the quarter, and they have already started writing policies for them. Looking ahead, they have a good pipeline of a new credit union and regional bank clients, and still have a lot of room to develop their OEM captive business.
LPRO stock 2021 Financial Guidance
The Company is reiterating its previously stated guidance based on the second quarter results and trends through the third quarter of 2021:
- For the full year of 2021, the total certified loans are expected to be between 161,000-206,000.
- The net revenue for the full year 2021 is anticipated to be around $184-$234 million.
- Adjusted EBTIDA will be nearly around $125-$168 million.
