Open Lending Corporation (LPRO) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
1501 S. MOPAC EXPRESSWAY AUSTIN, TX 78746 |
| State of Incorp. | |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6141 - Personal Credit Institutions (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | |||
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Current Assets | ||||||
| Cash, cash equivalents, and short-term investments | 204,450 | 116,454 | 101,513 | |||
| Cash and cash equivalents | 204,450 | 116,454 | 101,513 | |||
| Restricted cash and investments | 4,069 | 3,055 | 2,635 | |||
| Receivables | 15,435 | 7,870 | 4,352 | |||
| Prepaid expense | 2,479 | 1,873 | ||||
| Contract with customer, asset, after allowance for credit loss | 54,429 | 70,542 | 50,386 | |||
| Other current assets | 2,361 | 2,394 | 2,018 | |||
| Total current assets: | 280,744 | 202,794 | 162,777 | |||
| Noncurrent Assets | ||||||
| Operating lease, right-of-use asset | 4,610 | 5,189 | 5,733 | |||
| Property, plant and equipment | 2,573 | 2,663 | 1,201 | |||
| Contract with customer, asset, after allowance for credit loss | 21,001 | 42,414 | 38,956 | |||
| Deferred income tax assets | 65,128 | 65,503 | 85,218 | |||
| Other noncurrent assets | 5,575 | 262 | 124 | |||
| Total noncurrent assets: | 98,887 | 116,031 | 131,232 | |||
| TOTAL ASSETS: | 379,631 | 318,825 | 294,009 | |||
| LIABILITIES AND EQUITY | ||||||
| Liabilities | ||||||
| Current Liabilities | ||||||
| Accounts payable and accrued liabilities | 6,676 | 5,269 | 6,475 | |||
| Accounts payable | 288 | 1,285 | 3,442 | |||
| Accrued liabilities | 6,388 | 3,984 | 3,033 | |||
| Debt | 3,750 | 3,125 | 4,888 | |||
| Other liabilities | 626 | 621 | 4,005 | |||
| Other undisclosed current liabilities | 4,055 | 3,050 | 1,640 | |||
| Total current liabilities: | 15,107 | 12,065 | 17,008 | |||
| Noncurrent Liabilities | ||||||
| Long-term debt and lease obligation | 143,683 | 147,778 | 157,997 | |||
| Long-term debt, excluding current maturities | 143,683 | 143,135 | 152,859 | |||
| Liabilities, other than long-term debt | 8,017 | 92,382 | ||||
| Other liabilities | 3,935 | 92,382 | ||||
| Operating lease, liability | 4,082 | 4,643 | 5,138 | |||
| Other undisclosed noncurrent liabilities | (4,643) | |||||
| Total noncurrent liabilities: | 151,700 | 147,778 | 250,379 | |||
| Total liabilities: | 166,807 | 159,843 | 267,387 | |||
| Equity | ||||||
| Equity, attributable to parent | 212,824 | 158,982 | 26,622 | |||
| Common stock | 1,282 | 1,282 | 1,282 | |||
| Treasury stock, value | (72,264) | (56,844) | (37,500) | |||
| Additional paid in capital | 499,625 | 496,983 | 491,246 | |||
| Accumulated deficit | (215,819) | (282,439) | (428,406) | |||
| Total equity: | 212,824 | 158,982 | 26,622 | |||
| TOTAL LIABILITIES AND EQUITY: | 379,631 | 318,825 | 294,009 | |||
Income Statement (P&L) ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | ||
|---|---|---|---|---|---|
| Revenues | 179,594 | 215,655 | 108,892 | ||
| Cost of revenue | (19,968) | (18,621) | (9,786) | ||
| Cost of goods and services sold | (19,968) | ||||
| Gross profit: | 159,626 | 197,034 | 99,106 | ||
| Operating expenses | (62,011) | (46,745) | (42,389) | ||
| Operating income: | 97,615 | 150,289 | 56,717 | ||
| Nonoperating income (expense) | 1,757 | 55,516 | (4,175) | ||
| Investment income, nonoperating | 1,995 | 213 | 202 | ||
| Gain on contract termination | 55,422 | ||||
| Other nonoperating income (expense) | (238) | (119) | (4,377) | ||
| Interest and debt expense | (5,832) | (14,637) | (11,601) | ||
| Income from continuing operations before equity method investments, income taxes: | 93,540 | 191,168 | 40,941 | ||
| Other undisclosed loss from continuing operations before income taxes | (131,932) | ||||
| Income (loss) from continuing operations before income taxes: | 93,540 | 191,168 | (90,991) | ||
| Income tax expense | (26,920) | (45,086) | (6,573) | ||
| Income (loss) from continuing operations: | 66,620 | 146,082 | (97,564) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | 146,082 | (97,564) | |
| Net income (loss) attributable to parent: | 66,620 | 146,082 | (97,564) | ||
| Preferred stock dividends and other adjustments | (40,689) | ||||
| Other undisclosed net income available to common stockholders, basic | 47,537 | ||||
| Net income (loss) available to common stockholders, diluted: | 66,620 | 146,082 | (90,716) | ||
Comprehensive Income ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | ||
|---|---|---|---|---|---|
| Net income (loss): | 66,620 | 146,082 | (97,564) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 66,620 | 146,082 | (97,564) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.