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OPENLANE, Inc.

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OPENLANE, Inc. • NYSE
$25.44 ▲ 0.95% (+0.24)
Market Cap $2.70 B
52w High $30.93
52w Low $17.08
Dividend Yield 0%
P/E 29.24
Volume 401.10K
Outstanding Shares 106.26M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $498.4M ▲ $120M ▼ $47.9M ▲ 9.611% ▲ $0.26 ▲ $108M ▲
Q2-2025 $481.7M ▲ $153M ▼ $33.4M ▼ 6.934% ▼ $0.16 ▼ $77.8M ▼
Q1-2025 $460.1M ▼ $166.8M ▲ $36.9M ▼ 8.02% ▼ $0.18 ▼ $79.4M ▲
Q4-2024 $492M ▲ $140.2M ▲ $52.3M ▲ 10.63% ▲ $0.29 ▲ $1.4M ▼
Q3-2024 $448.4M $123.2M $28.4M 6.334% $0.12 $100.6M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $146.4M ▲ $4.817B ▲ $2.777B ▼ $2.039B ▲
Q2-2025 $119.1M ▼ $4.638B ▼ $3.223B ▼ $1.416B ▲
Q1-2025 $220.5M ▲ $4.806B ▲ $3.434B ▲ $1.372B ▲
Q4-2024 $143M ▲ $4.622B ▼ $3.28B ▼ $1.343B ▲
Q3-2024 $132.1M $4.626B $3.299B $1.327B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $0 ▼ $72.2M ▲ $-166.1M ▼ $99M ▲ $-2.4M ▲ $57.6M ▲
Q2-2025 $33.4M ▼ $71.6M ▼ $2.5M ▲ $-200M ▼ $-107.7M ▼ $57.4M ▼
Q1-2025 $36.9M ▼ $122.6M ▲ $-31.9M ▲ $-18.9M ▼ $72.8M ▲ $110.7M ▲
Q4-2024 $42M ▲ $32.3M ▼ $-81.3M ▼ $90.8M ▲ $23.1M ▼ $18.3M ▼
Q3-2024 $28.4M $121.1M $4.5M $-97.8M $32M $108M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Service Revenue
Service Revenue
 $0 ▲$0 ▲$0 ▲$140.00M ▲
Finance
Finance
 $140.00M ▲$110.00M ▼$110.00M ▲$0 ▼
Marketplace
Marketplace
 $350.00M ▲$350.00M ▲$380.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Over the last few years, OPENLANE’s income statement reads like a company in transition. Revenue dropped meaningfully when the business was reshaped, but has since started to climb again as the digital model scales. Gross profit has held up reasonably well, and operating results have moved from roughly break-even to clearly profitable more recently, suggesting the new structure is gaining traction. That said, net income has been choppy, with a loss in one recent year and only modest profits in others. This pattern points to a business that is improving but still working through the costs and volatility of a major strategic shift.

Balance Sheet

Balance Sheet The balance sheet shows a company that is now smaller, leaner, and less leveraged than a few years ago. Total assets have come down as OPENLANE shed more capital-intensive operations, while debt has been cut substantially, reducing financial risk and interest pressure. Equity has ticked down more recently, which slightly narrows the cushion for setbacks. Cash on hand is adequate but not abundant, so the company looks more dependent on steady cash generation and access to credit than on a large cash reserve. Overall, financial risk has improved, but there is less balance-sheet bulk than in the past.

Cash Flow

Cash Flow Cash flow is a relative bright spot. In most years, the core business has produced solid cash from operations, with one notable weak year during the transition. Free cash flow has generally been positive, helped by modest capital spending that fits an asset-light, software- and data-driven model. This means the company has typically been able to fund its needs internally without heavy reinvestment demands. The main risk is that with a smaller cash buffer, a downturn in volumes or another disruptive year could matter more, so maintaining consistent operating cash flow is crucial.

Competitive Edge

Competitive Edge OPENLANE holds a strong position in the wholesale used-vehicle space, especially in digital auctions. It benefits from network effects: more sellers attract more buyers, which attracts still more sellers. Its access to a large share of off-lease vehicles and its long-standing relationships with manufacturers, finance companies, and dealers create meaningful barriers for new entrants. The integrated offering—auctions, financing, logistics, inspections, and data tools—makes it a one-stop shop and tends to increase customer stickiness. The flip side is that it operates in a cyclical, competitive market with other digital platforms and traditional players all fighting for dealer attention, so it must keep proving its value and maintaining scale advantages.

Innovation and R&D

Innovation and R&D Innovation is a key part of the story. OPENLANE has invested heavily in technology, using data science and artificial intelligence for pricing, condition reporting, and decision tools for dealers. The shift to a unified, mobile-first marketplace and data-as-a-service offerings suggests a move from being just a transaction facilitator to becoming a decision and workflow platform. The roadmap includes deeper AI, broader digital services, better dealer-to-dealer tools, and more international integration. The opportunity is to turn these capabilities into higher margins and stickier customers; the risk is execution—technology moves quickly, and competitors can also invest aggressively.

Summary

OPENLANE today looks like a company that has largely completed a major strategic pivot and is now in the phase of proving its new model at scale. Financially, revenue and profitability trends have improved after a disruptive period, leverage has come down, and cash generation is generally solid, but earnings remain somewhat uneven and the balance sheet is slimmer than before. Strategically, its digital marketplace, network effects, exclusive inventory, and integrated services give it meaningful strengths in a specialized niche of the auto ecosystem. The key questions going forward are how consistently it can convert these advantages into stable profits and cash, how well it can weather the ups and downs of the auto cycle, and whether its technology edge and data products can stay ahead of fast-moving competition.

NEWS

November 11, 2025 · 4:15 PM UTC

OPENLANE Announces Participation in Four Upcoming Investor Conference

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November 5, 2025 · 7:00 AM UTC

OPENLANE, Inc. Reports Third Quarter 2025 Financial Results

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October 15, 2025 · 4:15 PM UTC

OPENLANE to Announce Third Quarter 2025 Earnings

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October 8, 2025 · 4:15 PM UTC

OPENLANE Completes Repurchase of 53% of Series A Convertible Preferred Stock

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October 6, 2025 · 8:00 AM UTC

OPENLANE Names Bill Wright Vice President of Investor Relations

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