LPRO is no longer listed. Its last trade on record was Aug 7, 2026. The price and figures on this page are from its last trading day and final filings, and are no longer updated.
Revenue growth remains inconsistent, with the company struggling to maintain positive operating margins, which dipped to -3.1% in 2026Q1 despite a gross margin of 76.3%.
Open Lending Corporation (LPRO) annual income statement — 9-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 |
|---|
| Net Interest Income | -93K | -345K | 773K | -326K | -3.84M | -5.65M | -11.4M | -298K | -328K | 0 |
| NII Growth % | -199.05% | -144.63% | 337.12% | 91.5% | 32.04% | 50.47% | -3725.17% | 9.15% | - | - |
| Net Interest Margin % | -0.04% | -0.15% | 0.26% | -0.09% | -1.01% | -1.77% | -3.88% | -0.38% | -0.12% | 0% |
| Interest Income | 8.31M | 9.32M | 12.09M | 10.34M | 2M | 213K | 202K | 24K | 13K | 408K |
| Interest Expense | 8.4M | 9.66M | 11.32M | 10.66M | 5.83M | 5.86M | 11.6M | 322K | 341K | 0 |
| Loan Loss Provision | 11.92M | 13.15M | 12.54M | 11.62M | 14.14M | 12.76M | -1.81M | 7.48M | 4.26M | 3.02M |
| Non-Interest Income | 81.01M | 83.9M | 11.93M | 107.13M | 177.6M | 215.44M | 108.69M | 92.82M | 52.18M | 31.97M |
| Non-Interest Income % | 100.11% | 100.41% | 93.92% | 100.31% | 102.21% | 102.69% | 111.72% | 100.32% | 100.63% | 100% |
| Total Net Revenue | 80.91M | 83.56M | 12.71M | 106.8M | 173.76M | 209.8M | 97.29M | 92.53M | 51.85M | 31.97M |
| Revenue Growth % | 1137.96% | 557.55% | -88.1% | -38.54% | -17.18% | 115.64% | 5.15% | 78.44% | 62.18% | - |
| Non-Interest Expense | 75.39M | 64.41M | 65.55M | 66.1M | 62.01M | 46.74M | 42.39M | 22.43M | 19.11M | 30.68K |
| Efficiency Ratio | 93.18% | 77.08% | 515.83% | 61.89% | 35.69% | 22.28% | 43.57% | 24.24% | 36.87% | 0.1% |
| Operating Income | -6.4M | 5.99M | -65.38M | 29.07M | 97.61M | 150.29M | 56.72M | 62.62M | 28.47M | -30.68K |
| Operating Margin % | -7.91% | 7.17% | -514.5% | 27.22% | 56.18% | 71.64% | 58.3% | 67.67% | 54.92% | -0.1% |
| Operating Income Growth % | - | 109.17% | -324.86% | -70.21% | -35.05% | 164.98% | -9.42% | 119.9% | 92909.65% | - |
| Pretax Income | -6.51M | -5.37M | -64.61M | 28.86M | 93.54M | 191.17M | -90.99M | 62.51M | 28.32M | -30.68K |
| Pretax Margin % | -8.05% | -6.43% | -508.42% | 27.02% | 53.83% | 91.12% | -93.52% | 67.56% | 54.61% | -0.1% |
| Income Tax | -1.2M | -1.13M | 70.41M | 6.79M | 26.92M | 45.09M | 6.57M | -30K | 37K | 0 |
| Effective Tax Rate % | 18.41% | 21.1% | -108.98% | 23.52% | 28.78% | 23.58% | -7.22% | -0.05% | 0.13% | 0% |
| Net Income | -5.31M | -4.24M | -135.01M | 22.07M | 66.62M | 146.08M | -97.56M | 62.54M | 28.28M | -30.68K |
| Net Margin % | -6.57% | -5.07% | -1062.49% | 20.66% | 38.34% | 69.63% | -100.28% | 67.6% | 54.54% | -0.1% |
| Net Income Growth % | 96.19% | 96.86% | -711.74% | -66.87% | -54.4% | 249.73% | -255.99% | 121.17% | 92268.05% | - |
| Net Income (Continuing) | -5.31M | -4.24M | -135.01M | 22.07M | 66.62M | 146.08M | -97.56M | 62.54M | 28.28M | -30.68K |
| EPS (Diluted) | -0.05 | -0.04 | -1.13 | 0.18 | 0.53 | 1.16 | -1.18 | 1.66 | 0.31 | -0.00 |
| EPS Growth % | 96.14% | 96.84% | -727.78% | -66.04% | -54.31% | 198.31% | -171.08% | 435.48% | - | - |
| EPS (Basic) | - | -0.04 | -1.13 | 0.18 | 0.53 | 1.16 | -1.18 | 1.66 | 0.31 | -0.00 |
| Diluted Shares Outstanding | 117.78M | 118.6M | 119.18M | 121.47M | 126.26M | 126.39M | 82.91M | 37.63M | 91.85M | 31.25M |
Quick answers to the most common questions about buying LPRO stock.
For fiscal year 2025, Open Lending Corporation (LPRO) reported total revenue of $83.6M. This represents a 161.3% increase compared to $32.0M in 2017.
Open Lending Corporation (LPRO) reported a net loss of $4.2M for the fiscal year ending 2025.
Open Lending Corporation (LPRO) reported an operating income of $6.0M, resulting in an operating profit margin of 6.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Open Lending Corporation (LPRO) generated $70.4M in gross profit for the year, representing a gross profit margin of 75.5%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Revenue volatility from accounting adjustments
Metrics are mathematically derived from official filings.
Revenue Volatility Masks Underlying Trends
As reported in recent financial filings, LPRO's revenue trajectory exhibits extreme volatility, highlighted by a massive negative revenue print in 2024Q4 followed by a recovery, suggesting that the company's top-line growth is heavily influenced by periodic accounting adjustments rather than consistent, organic transactional volume expansion.
The erratic revenue pattern indicates that the company's reliance on ASC 606 profit-share estimates creates significant noise in quarterly performance. Investors should monitor whether the recent stabilization in revenue reflects a genuine improvement in loan origination volume or merely a cessation of negative catch-up adjustments.
Structural Gross Margin Resilience Tested
Based on the provided income statement data, LPRO maintains a robust gross margin profile typically exceeding 75%, yet the company's inability to consistently translate this high-margin revenue into positive operating income suggests that the cost of maintaining its specialized actuarial and technical infrastructure remains disproportionately high.
The high gross margin confirms the scalability of the platform once infrastructure is deployed, but the persistent operating losses indicate that the business model may be struggling to achieve the necessary scale to cover its fixed overhead. This margin structure warrants further investigation into whether current pricing power is sufficient to offset rising operational costs.
Accounting Estimates Cloud Earnings Clarity
According to historical income statement data, the quality of LPRO's net income is frequently compromised by significant non-operating items and accounting revisions, as evidenced by the sharp swing from a $144.4 million loss in 2024Q4 to subsequent quarterly fluctuations in profitability.
The reliance on lifetime value estimates for profit-share revenue introduces a high degree of subjectivity into the bottom line, making reported EPS a potentially unreliable indicator of operational health. Analysts should adjust for these non-cash accounting impacts to better understand the underlying cash-generating capability of the business.
Cyclical Sensitivity Threatens Growth Narrative
As indicated by the company's recent financial performance, LPRO's business model appears highly sensitive to the auto credit cycle, with the 2024Q4 revenue collapse serving as a stark reminder that the firm's growth is not immune to the liquidity constraints faced by its credit union partners.
Short-sellers may focus on the risk that LPRO's 'recurring' revenue is essentially a derivative of the auto lending market, which is currently facing headwinds from higher interest rates and potential credit deterioration. The company's reliance on third-party insurance capacity creates a hard ceiling on growth that may be overlooked by those viewing the firm as a pure-play software provider.