Open Lending (NASDAQ:LPRO) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$26.7m (down 30% from 2Q 2023).

• Net income: US$2.90m (down 75% from 2Q 2023).

• Profit margin: 11% (down from 30% in 2Q 2023). The decrease in margin was driven by lower revenue.

• EPS: US$0.024 (down from US$0.094 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Open Lending Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 53%.

Looking ahead, revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Capital Markets industry in the US.

Performance of the American Capital Markets industry.

The company's shares are down 2.8% from a week ago.

Risk Analysis

You still need to take note of risks, for example - Open Lending has 1 warning sign we think you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.