The company maintains a healthy liquidity position with $185.0 million in cash, though this is offset by an accumulated deficit of $333.5 million as of 2026Q1.
| Total Current Assets | 218.13M | 222.69M | 275.73M | 289.88M | 280.74M | 202.79M | 162.78M | 45.21M | 1.19M | 25K |
| Cash & Short-Term Investments | - | - | - | - | - | - | - | - | - | - |
| Cash Only | - | - | - | - | - | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 5.86M | 17.02M | 13.97M | 9.31M | 6.43M | 5.45M | 4.65M | 3.51M | 5K | 0 |
| Total Non-Current Assets | 12.96M | 13.99M | 20.64M | 84.16M | 98.89M | 116.03M | 131.23M | 33.97M | 278.32M | 219.92K |
| Property, Plant & Equipment | 3.25M | 3.52M | 4.61M | 7.9M | 7.18M | 7.85M | 6.93M | 299K | 305K | 0 |
| Fixed Asset Turnover | 24.43x | 26.47x | 5.21x | 14.86x | 25.00x | 27.46x | 15.70x | 310.53x | 171.12x | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 3.82M | 4.05M | 5.39M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 5.27M | 2.89M | 5.09M | 0 | 0 | 0 | 0 | 0 | 278.32M | 0 |
| Other Non-Current Assets | - | - | - | - | - | - | - | - | - | - |
| Total Assets | 231.09M | 236.68M | 296.37M | 374.04M | 379.63M | 318.82M | 294.01M | 79.19M | 279.51M | 244.92K |
| Asset Turnover | 0.34x | 0.39x | 0.08x | 0.31x | 0.47x | 0.68x | 0.37x | 1.17x | 0.19x | 132.21x |
| Asset Growth % | -93.99% | -20.14% | -20.77% | -1.47% | 19.07% | 8.44% | 271.29% | -71.67% | 114024.4% | - |
| Total Current Liabilities | 49.14M | 49.26M | 47.25M | 20.59M | 15.11M | 12.06M | 17.01M | 8.19M | 362.42K | 250.6K |
| Accounts Payable | 543K | 446K | 953K | 375K | 288K | 1.28M | 3.44M | 1.34M | 55.4K | 0 |
| Days Payables Outstanding | - | - | - | - | - | - | - | - | - | - |
| Short-Term Debt | 7.5M | 8.4M | 7.5M | 4.69M | 3.75M | 3.13M | 4.89M | 2.48M | 2.48M | 221.2K |
| Deferred Revenue (Current) | 0 | - | - | - | - | - | - | - | - | - |
| Other Current Liabilities | 41.09M | 40.41M | 38.02M | 6.76M | 4.12M | 3.18M | 3.64M | 2.37M | 2.7M | 29.4K |
| Current Ratio | 4.44x | 4.52x | 5.84x | 14.08x | 18.58x | 16.81x | 9.57x | 5.52x | 3.28x | 0.10x |
| Quick Ratio | 4.44x | 4.52x | 5.84x | 14.08x | 18.58x | 16.81x | 9.57x | 5.52x | 3.28x | 0.10x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 106.63M | 112.46M | 171.03M | 147.87M | 151.7M | 147.78M | 250.38M | 305.77M | 9.63M | 0 |
| Long-Term Debt | 75.44M | 77.27M | 132.22M | 139.36M | 143.68M | 143.13M | 152.86M | 829K | 3.31M | 0 |
| Capital Lease Obligations | 0 | - | - | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | 155.77M | 161.72M | 218.28M | 168.46M | 166.81M | 159.84M | 267.39M | 313.96M | 9.99M | 250.6K |
| Total Debt | 85.08M | 88.05M | 143.77M | 148.13M | 152.08M | 151.4M | 163.25M | 3.31M | 5.8M | 221.2K |
| Net Debt | -99.87M | -88.57M | -99.39M | -92.08M | -52.37M | 34.94M | 61.74M | -4.36M | 4.61M | 196.2K |
| Debt / Equity | 1.13x | 1.17x | 1.84x | 0.72x | 0.71x | 0.95x | 6.13x | - | 0.02x | - |
| Debt / EBITDA | -21.93x | 10.48x | - | 4.80x | 1.54x | 1.00x | 2.79x | 0.05x | 0.20x | - |
| Net Debt / EBITDA | 25.75x | -10.54x | - | -2.98x | -0.53x | 0.23x | 1.06x | -0.07x | 0.16x | - |
| Interest Coverage | -0.23x | 0.62x | -4.71x | 3.71x | 17.04x | 33.63x | -6.84x | 195.14x | 84.04x | - |
| Total Equity | 75.31M | 74.96M | 78.09M | 205.58M | 212.82M | 158.98M | 26.62M | -234.78M | 269.52M | -5.68K |
| Equity Growth % | -140.21% | -4% | -62.02% | -3.4% | 33.87% | 497.18% | 111.34% | -187.11% | 4743586.64% | - |
| Book Value per Share | 0.64 | 0.63 | 0.66 | 1.69 | 1.69 | 1.26 | 0.32 | -6.24 | 2.93 | -0.00 |
| Total Shareholders' Equity | 75.31M | 74.96M | 78.09M | 205.58M | 212.82M | 158.98M | 26.62M | -234.78M | 269.52M | -5.68K |
| Common Stock | 1.28M | 1.28M | 1.28M | 1.28M | 1.28M | 1.28M | 1.28M | 376K | 793 | 719 |
| Retained Earnings | -333.45M | -333M | -328.76M | -193.75M | -215.82M | -282.44M | -428.41M | -242.78M | 2.65M | -30.68K |
| Treasury Stock | -84.47M | -90.99M | -97.1M | -103.98M | -72.26M | -56.84M | -37.5M | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -791 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Contract asset valuation volatility
As reported in recent financial filings, LPRO's total assets have declined from a peak of $395.7 million in 2024Q3 to $231.1 million by 2026Q1, signaling a significant reduction in the company's balance sheet footprint as it navigates a challenging and highly cyclical auto credit environment.
The reduction in total assets appears to correlate with the volatility in contract assets, which are sensitive to underlying loan performance and actuarial re-estimations. This trend suggests that the company's asset base is not growing in tandem with its operational ambitions, potentially reflecting a more cautious approach to risk-sharing or a contraction in the underlying loan volumes serviced.
Based on the most recent quarterly data, LPRO maintains a cash balance of $185.0 million, which, despite a decline from previous periods, provides a substantial liquidity buffer that supports a current ratio of 4.44, indicating strong short-term solvency relative to its immediate operational obligations.
The high liquidity position appears to be a strategic choice, likely intended to insulate the firm against potential insurance partner churn or unexpected credit losses within the serviced portfolio. Investors should monitor whether this cash pile remains idle or is deployed to stabilize the balance sheet during periods of heightened market stress.
According to the company's balance sheet, the equity base has been significantly eroded by a persistent accumulated deficit of $333.5 million as of 2026Q1, which highlights the long-term challenge of achieving sustained profitability despite the company's high-margin service model and revenue growth potential.
The persistent negative retained earnings suggest that historical operational costs and accounting adjustments have consistently outpaced the firm's ability to generate net income. This structural weakness in the equity base warrants further investigation into whether the current business model can eventually reach a scale that overcomes these legacy deficits.
As indicated by the company's financial statements, the reliance on contract assets creates a non-obvious risk where balance sheet valuations are subject to significant quarterly swings based on management's estimates of future profit-sharing, potentially masking the true underlying credit risk of the serviced auto loan portfolio.
Because these assets are based on actuarial projections rather than realized cash, the balance sheet may appear stronger than the actual cash-generating capacity of the business during economic downturns. If default rates exceed initial projections, the company may face future write-downs that could rapidly impair the reported equity value.
Quick answers to the most common questions about buying LPRO stock.
As of 2025, Open Lending Corporation (LPRO) had total assets of $236.7M including $222.7M in current assets.
Open Lending Corporation (LPRO) carries total debt of $88.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Open Lending Corporation (LPRO) has total shareholders' equity (book value) of $75.0M ($0.63 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Open Lending Corporation (LPRO) reported a current ratio of 4.52x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.