Open Lending Corporation provides lending enablement and risk analytics solutions to automotive lenders across the United States. The company's primary offering is the Lending Protection Platform (LPP), a cloud-based software solution that enables credit unions, regional banks, finance companies, and captive finance subsidiaries of automakers to originate and manage auto loans. The LPP delivers loan analytics, risk-based pricing models, risk assessment tools, and automated underwriting decision technology. Additionally, the platform facilitates the issuance of credit default insurance in partnership with third-party insurance providers, allowing lenders to mitigate credit risk on originated loans.
The company operates with approximately 205 full-time employees and maintains its headquarters in Austin, Texas. Open Lending was founded in 2000 and is publicly traded on Nasdaq with a market capitalization of $0.2 billion. The company's customer base spans the automotive lending ecosystem, serving both traditional financial institutions and captive finance operations affiliated with major automakers.
Fiscal years are as reported by the company and may not align with the calendar year. For example, Apple's FY 2024 ends in September 2024.
| Fiscal Year | EPS Diluted | EPS Basic | YoY | |
|---|---|---|---|---|
| 2024 | $-1.13 | $-1.13 | -727.8% | |
| 2023 | $0.18 | $0.18 | -66.0% | |
| 2022 | $0.53 | $0.53 | -54.3% | |
| 2021 | $1.16 | $1.16 | +866.7% | |
| 2020 | $0.12 | $0.12 | — |