OPENLANE Full-Year GMV Hits $29B; Q4 GMV Rises 8% to $7.1B
In Q4, OPENLANE’s dealer volume rose 9% YoY, boosting GMV to $7.1B and revenue to $494M, with operating income up 14% to $60M. Full-year GMV hit $29B (+6%), revenue reached $1.935B (+8%), operating income surged 62% to $178M, and Adjusted EBITDA rose 13% to $333M.
1. Q4 2025 Financial Performance
In the fourth quarter of 2025, marketplace dealer volume grew 9% year-over-year, driving gross merchandise value to $7.1 billion and revenue to $494 million. Operating income increased 14% to $60 million, Adjusted EBITDA rose 5% to $76 million, and operating cash flow totaled $126 million.
2. Full-Year 2025 Results
For the full year, GMV reached $29 billion, up 6% from 2024, and revenue climbed 8% to $1.935 billion, led by a 13% rise in auction and related fees. Operating income surged 62% to $178 million, Adjusted EBITDA increased 13% to $333 million, and cash flow from operations jumped 34% to $392 million.
3. 2026 Guidance and Outlook
OPENLANE projects 2026 net income of $130–$147 million and Adjusted EBITDA of $350–$370 million, implying diluted EPS of $0.95–$1.09. Management expects continued digital migration and increased off-lease vehicle volumes to drive growth and shareholder value.