OPENLANE Q1 GMV Hits $9.1B While Revenue Rises 15% and Net Income Jumps 33%
OPENLANE posted Q1 revenue of $528M (+15% YoY) on GMV of $9.1B (+32%), net income of $49M (+33%), adjusted EBITDA of $97M (+17%) and cash flow of $160M (+30%). It raised 2026 guidance to net income $147–164M and EBITDA $365–385M, from $130–147M and $350–370M prior.
1. Q1 Financial Highlights
OPENLANE generated $528 million in Q1 revenue, a 15% increase year over year, supported by $9.1 billion in GMV (up 32%). Net income rose 33% to $49 million, adjusted EBITDA grew 17% to $97 million and operating cash flow climbed 30% to $160 million.
2. Marketplace Performance
Commercial vehicle sales in the marketplace surged 25% year over year while dealer vehicle sales increased 13%. U.S. dealer-to-dealer volumes grew in the upper 20% range and off-lease volumes began returning, underscoring strong network expansion and technology advantages.
3. Full-Year Guidance Revision
The company lifted its 2026 net income outlook to $147–164 million from $130–147 million and raised adjusted EBITDA guidance to $365–385 million from $350–370 million, reflecting confidence in ongoing growth and profitability.
4. Strategic Outlook
Management cited superior inventory, technology and customer experience as drivers of market share gains. The finance business balanced growth and risk, and with off-lease volume still in early stages, leadership affirmed confidence in delivering on revised targets.