Earnings summaries and quarterly performance for OPENLANE.
Executive leadership at OPENLANE.
Peter Kelly
Detailed
Chief Executive Officer
CEO
Brad Herring
Detailed
Executive Vice President and Chief Financial Officer
Charles Coleman
Detailed
Executive Vice President, Chief Legal Officer and Secretary
James Coyle
Detailed
Executive Vice President and President, Marketplace
Will Mitchell
Detailed
President of Automotive Finance Corporation (AFC)
Board of directors at OPENLANE.
Research analysts who have asked questions during OPENLANE earnings calls.
Craig Kennison
Robert W. Baird & Co. Incorporated
7 questions for KAR
Also covers: BC, CPRT, CWH +15 more
Rajat Gupta
JPMorgan Chase & Co.
5 questions for KAR
Also covers: ABG, ACVA, AN +10 more
Bret Jordan
Jefferies
4 questions for KAR
Also covers: AAP, ABG, AN +19 more
Gary Prestopino
Barrington Research
3 questions for KAR
Also covers: AIOT, CARS, CCCS +16 more
Jeff Lick
Stephens Inc.
3 questions for KAR
Also covers: ABG, AN, BOOT +9 more
John Murphy
Bank of America
3 questions for KAR
Also covers: ABG, ADNT, AN +16 more
Bob Labick
CJS Securities
2 questions for KAR
Also covers: ACVA, BCPC, BV +10 more
John Healy
Northcoast Research
2 questions for KAR
Also covers: ACVA, CAR, CPRT +7 more
Bob Ladick
CJS Securities
1 question for KAR
Ryan (on for John Murphy)
Bank of America
1 question for KAR
Recent press releases and 8-K filings for KAR.
OPENLANE Discusses Digital Transformation, Growth Drivers, and Capital Allocation
KAR
Revenue Acceleration/Inflection
Debt Issuance
Share Buyback
- OPENLANE (formerly KAR Global) has completed a significant digital transformation, divesting physical assets and rebranding its U.S. marketplace to OPENLANE in November 2023 to focus on its digital platform.
- The company reported strong performance in its dealer-to-dealer (D2D) volumes, which grew 14% in Q3, attributing this success to strategic repositioning, technology investments, and increased go-to-market efforts.
- Commercial volumes are anticipated to ramp up significantly, with lease maturities projected to increase by over 20% in both 2026 and 2027, alongside a decline in consumer lease buyouts.
- OPENLANE operates the nation's second largest floor plan finance business, serving 12,000-13,000 independent dealers with short-term loans and maintaining low loan loss provision rates of 1.5%-2%.
- The company recently bought back 53% of its convertible preferred shares, reducing potential dilution, and plans to prioritize organic investments, share repurchases, and debt paydown for capital allocation.
Nov 20, 2025, 5:00 PM
Openlane Discusses Digital Transformation, Growth, and Capital Allocation
KAR
Revenue Acceleration/Inflection
New Projects/Investments
Share Buyback
- Openlane's CEO, Peter Kelly, highlighted the company's strategic shift to a digital-first model, divesting physical assets and rebranding its marketplace to Openlane in November 2023.
- The company reported strong performance in its dealer-to-dealer (D2D) volumes, which grew 14% in Q3, significantly outpacing the industry's 2% growth. This success is attributed to strategic decisions, technology investments, and improved go-to-market execution.
- Openlane anticipates a healthy lease maturity curve, with maturities projected to be 20% plus higher in 2026 than 2025, and similar growth in 2027 over 2026, alongside a decrease in consumer buyout rates, which is expected to increase volume flowing to the company.
- CFO Brad Herring noted that the AFC business generates roughly half of Openlane's EBITDA and is characterized by short-term dealer loans (sub-60-day) with low loan loss provisions of 1.5-2%.
- Openlane recently bought back 53% of its convertible preferred shares, reducing the potential overhang from 25% to 13%, and plans to allocate cash towards organic investments, share repurchases, and debt reduction.
Nov 20, 2025, 5:00 PM
OPENLANE Outlines Digital Strategy, Growth Trajectory, and Capital Allocation
KAR
Revenue Acceleration/Inflection
Debt Issuance
Share Buyback
- OPENLANE's CEO, Peter Kelly, detailed the company's strategic pivot to a digital-first model, including the divestment of physical assets and rebranding, to drive efficiency and network effects.
- The company has achieved double-digit D2D volume growth for four consecutive quarters, with US volumes growing high double-digit, positioning it as the fastest-growing player in the D2D industry.
- Commercial volume is expected to ramp significantly in 2026, anticipating a substantial and sustained cyclical growth recovery in off-lease vehicles, coupled with a secular shift towards digital.
- The company's AFC business serves as a strong cash generator through conservative, short-term dealer loans, maintaining low loan loss provision rates between 1.5% and 2%.
- OPENLANE executed a $550 million buyback of 53% of its convertible preferred shares via a term loan B, with future capital allocation priorities including organic investments, share repurchases, and debt reduction.
Nov 20, 2025, 5:00 PM
KAR Announces Q3 2025 Results and Upwardly Revises FY25 Guidance
KAR
Earnings
Guidance Update
Revenue Acceleration/Inflection
- KAR reported Q3 2025 consolidated revenue of $498.4 million and Adjusted EBITDA of $87.1 million.
- The company's Operating Adjusted Income from continuing operations per share was $0.35 for Q3 2025.
- KAR revised its full-year FY25 guidance upwards on November 5, 2025, with Adjusted EBITDA now projected to be $328 to $333 million (previously $310 to $320 million) and Operating Adjusted EPS expected to be $1.22 to $1.26 (previously $1.12 to $1.17).
- Key operational metrics for Q3 2025 included Commercial GMV of $4.82 billion and Dealer GMV of $2.45 billion, with Avg Receivables Managed at $2,389 million.
Nov 5, 2025, 1:30 PM
KAR Reports Strong Q3 2025 Results and Raises Full-Year Adjusted EBITDA Guidance
KAR
Earnings
Guidance Update
Share Buyback
- OPENLANE (KAR) reported Q3 2025 revenue of $498 million, an 8% increase, and adjusted EBITDA of $87 million, a 17% increase, reflecting a 17% adjusted EBITDA margin.
- The Marketplace segment's GMV grew 9% to $7.3 billion, driven by a 19% increase in dealer category GMV and a 20% rise in auction fees. Dealer-to-dealer volumes increased 14% year-over-year.
- The Finance segment saw its average outstanding receivables managed grow 11% year-over-year to $2.4 billion, leading to a 12% increase in adjusted EBITDA to $44 million. The loan loss rate for the quarter was 1.6%.
- KAR has increased its full-year 2025 adjusted EBITDA guidance to a range of $328-$333 million, up from the previous $310-$320 million.
- The company announced its intent to repurchase approximately 53% of its outstanding Series A convertible preferred shares, which is expected to reduce fully diluted shares by about 19 million. Additionally, KAR repurchased 1.5 million common shares year-to-date Q3 at an average price of $24.35 per share.
Nov 5, 2025, 1:30 PM
OPENLANE, Inc. Reports Strong Q3 2025 Financial Results and Raises Full-Year Guidance
KAR
Earnings
Guidance Update
Revenue Acceleration/Inflection
- OPENLANE, Inc. reported Q3 2025 revenue of $498.4 million, an 8% year-over-year increase, and Adjusted EBITDA of $87.1 million, representing 17% year-over-year growth. Income from continuing operations grew 69% year-over-year to $47.9 million.
- The company achieved marketplace dealer volume growth of 14% year-over-year and Gross Merchandise Value (GMV) of approximately $7.3 billion, an 9% year-over-year increase.
- Cash flow from operating activities was $72.2 million for Q3 2025.
- OPENLANE, Inc. raised its full-year 2025 guidance for Adjusted EBITDA to a range of $328 million to $333 million and Operating Adjusted EPS to $1.22 to $1.26.
Nov 5, 2025, 12:00 PM
OPENLANE, Inc. Reports Strong Third Quarter 2025 Results and Raises Full-Year Guidance
KAR
Earnings
Guidance Update
Revenue Acceleration/Inflection
- OPENLANE, Inc. reported revenue of $498 million for the third quarter ended September 30, 2025, representing an 8% year-over-year growth, and income from continuing operations of $48 million, a 69% year-over-year increase.
- The company achieved Adjusted EBITDA of $87 million, marking a 17% year-over-year growth, and saw marketplace dealer volume increase by 14% year-over-year, contributing to a 9% year-over-year growth in Gross Merchandise Value (GMV) to approximately $7.3 billion.
- OPENLANE, Inc. raised its full-year 2025 guidance for Adjusted EBITDA to a range of $328 million to $333 million and Operating Adjusted EPS to a range of $1.22 to $1.26.
Nov 5, 2025, 12:00 PM
OPENLANE Completes Repurchase of Series A Convertible Preferred Stock
KAR
Share Buyback
Debt Issuance
- OPENLANE, Inc. completed the repurchase of 53% of its Series A Convertible Preferred Stock on October 8, 2025.
- The company amended its existing Credit Agreement with an additional $550 million in secured term loans to finance these repurchases.
- The financing was substantially oversubscribed, enabling OPENLANE to achieve tighter pricing and a more preferred rate.
Oct 8, 2025, 8:16 PM
OPENLANE, Inc. Annual Meeting Vote Results Q1 2025
KAR
Proxy Vote Outcomes
Auditor Change
Board Change
- On June 6, 2025, OPENLANE, Inc. held its annual stockholders meeting where key proposals were submitted to a vote, including board director elections and executive compensation advisory measures.
- Stockholders approved the election of director nominees (including one designated by Ignition Parent LP) and ratified the appointment of KPMG LLP as the independent public accounting firm for fiscal year 2025.
Jun 9, 2025, 12:00 AM
OPENLANE, Inc. Amends Receivables Purchase Agreement
KAR
Debt Issuance
- Amendment No. 2 executed on May 23, 2025, increases the Canadian Receivables Purchase Agreement Program Limit from C$300 million to C$375 million.
- The 8-K filing confirms the execution of this material definitive agreement and is signed by Charles S. Coleman, Executive VP, Chief Legal Officer and Secretary.
May 28, 2025, 12:00 AM
Quarterly earnings call transcripts for OPENLANE.
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