Open Lending Q4 Revenue Rises to $19.3M, Adjusted EBITDA Hits $2.8M
Open Lending delivered $19.3 million in Q4 revenue and adjusted EBITDA of $2.8 million, reversing a $75.9 million EBITDA loss and posting net income of $1.7 million. Full-year 2025 revenue rose to $93.2 million with adjusted EBITDA of $15.6 million, supported by ApexOne Auto launch and $48 million debt repayment.
1. Fourth Quarter and Full-Year Financial Results
In Q4 2025, Open Lending facilitated 19,308 certified loans, generating $19.3 million in revenue versus a $56.9 million loss in the prior year’s period. Gross profit reached $14.7 million and net income was $1.7 million, compared to a $144.4 million net loss in Q4 2024; full-year revenue climbed to $93.2 million with adjusted EBITDA of $15.6 million.
2. Business Metrics and Strategic Launch
Credit unions and banks accounted for 89.4% of Q4 certified loans, with average profit share revenue at $322 per loan and program fee revenue at $564. In November 2025, the ApexOne Auto platform launched to serve prime borrowers, and in December the company repaid $48.0 million of principal debt.
3. 2026 Financial Outlook and Guidance
Open Lending forecasts 20,000–21,000 certified loans in Q1 2026 and 100,000–110,000 for the full year, with adjusted EBITDA projected between $25 million and $29 million. This guidance underpins expectations for sustained growth and profitability through disciplined underwriting and full-spectrum lending capabilities.