LPRO FY 2021 Earnings Report — Open Lending Corporation Revenue & Financial Results | Market Cap Arena

Open Lending CorporationLPRO

FY 2021 Earnings

Reported February 28, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$216M	—	$109M	—	98.0%
Op. Income	$150M	—	$57M	—	165.0%
Gross Margin	91.4%	—	91.0%	—	0.4pp
Net Margin	67.7%	—	-89.6%	—	157.3pp
EPS (Diluted)	$1.16	—	$-1.18	—	198.3%
Free Cash Flow	$93M	—	$23M	—	297.4%

Revenue Flow

Item	Amount
REVENUE	$216M
Cost of Revenue	$19M
GROSS PROFIT	$197M
R&D Expenses	$4M
Selling & Marketing	$12M
General & Administrative	$30M
SG&A Expenses	$42M
Other Expenses	$0
Operating Expenses	$47M
Cost & Expenses	$65M
OPERATING INCOME	$150M
Interest Income	$213.0K
Interest Expense	$6M
Other Income/Expenses	$41M
INCOME BEFORE TAX	$191M
Income Tax Expense	$45M
Net Income from Continuing Ops	$146M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$146M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$146M
D&A	$525.0K
EBIT	$197M
EBITDA	$198M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$216M
Cost of Revenue	$19M
GROSS PROFIT	$197M
R&D Expenses	$4M
Selling & Marketing	$12M
General & Administrative	$30M
SG&A Expenses	$42M
Other Expenses	$0
Operating Expenses	$47M
Cost & Expenses	$65M
OPERATING INCOME	$150M
Interest Income	$213.0K
Interest Expense	$6M
Other Income/Expenses	$41M
INCOME BEFORE TAX	$191M
Income Tax Expense	$45M
Net Income from Continuing Ops	$146M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$146M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$146M
D&A	$525.0K
EBIT	$197M
EBITDA	$198M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$146M
Depreciation & Amortization	$525.0K
Stock-Based Compensation	$4M
Deferred Income Tax	$20M
Other Non-Cash Items	-$46M
Change in Working Capital	-$30M
OPERATING CASH FLOW	$95M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$2M
NET CASH FROM INVESTING	-$2M
Net Debt Issuance	-$19M
Common Stock Repurchased	-$20M
Common Dividends Paid	$0
Other Financing Activities	-$39M
NET CASH FROM FINANCING	-$78M
FREE CASH FLOW	$93M
Net Change in Cash	$15M

Balance Sheet

Item	Amount
Cash & Equivalents	$116M
Short-Term Investments	$0
Net Receivables	$78M
Inventory	$0
Other Current Assets	$5M
TOTAL CURRENT ASSETS	$203M
PP&E (Net)	$8M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$66M
Other Non-Current Assets	$43M
TOTAL NON-CURRENT ASSETS	$116M
TOTAL ASSETS	$319M
Account Payables	$1M
Short-Term Debt	$3M
Deferred Revenue	$0
Other Current Liabilities	$3M
TOTAL CURRENT LIABILITIES	$12M
Long-Term Debt	$143M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$148M
TOTAL LIABILITIES	$160M
Common Stock	$1M
Additional Paid-In Capital	$497M
Retained Earnings	-$282M
Treasury Stock	-$57M
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$159M
Minority Interest	$0
TOTAL EQUITY	$159M
TOTAL LIABILITIES & EQUITY	$319M
Total Debt	$151M
Net Debt	$35M