Open Lending Corp
NASDAQ:LPRO

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Open Lending Corp
NASDAQ:LPRO
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Price: 6.74 USD 5.97%
Market Cap: 803.7m USD
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Intrinsic Value

The intrinsic value of one LPRO stock under the Base Case scenario is 7.24 USD. Compared to the current market price of 6.74 USD, Open Lending Corp is Undervalued by 7%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

LPRO Intrinsic Value
7.24 USD
Undervaluation 7%
Intrinsic Value
Price
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Base Case
Best Case

Valuation Backtest
Open Lending Corp

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Fundamental Analysis

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Financials
Annual
Quarterly
TTM
Annual
Quarterly
TTM

Balance Sheet Decomposition
Open Lending Corp

Current Assets 293.2m
Cash & Short-Term Investments 248m
Receivables 35.1m
Other Current Assets 10.1m
Non-Current Assets 89.6m
PP&E 8.5m
Other Non-Current Assets 81.1m
Current Liabilities 22m
Accounts Payable 899k
Accrued Liabilities 8.2m
Other Current Liabilities 12.9m
Non-Current Liabilities 144m
Long-Term Debt 135.8m
Other Non-Current Liabilities 8.2m
Efficiency

Earnings Waterfall
Open Lending Corp

Revenue
98.4m USD
Cost of Revenue
-22.2m USD
Gross Profit
76.2m USD
Operating Expenses
-68.6m USD
Operating Income
7.6m USD
Other Expenses
-1.4m USD
Net Income
6.1m USD

Free Cash Flow Analysis
Open Lending Corp

Last Value
3-Years Average
FCF Margin
Conversion Rate
Earnings Calls

In Q2 2024, Open Lending certified 29,000 loans, reflecting a 3% growth from Q1, with total revenue at $26.7 million and adjusted EBITDA of $9.9 million. However, a $6.7 million profit share revision due to 2021 and 2022 loan delinquencies impacted results. Despite this, improved underwriting has reduced delinquency rates to 1-1.5%. The company signed 13 new credit union customers during the quarter. Looking ahead, Q3 guidance forecasts 25,000-28,000 certified loans, $28-31 million in revenue, and $11-14 million in adjusted EBITDA, relying on a stable and improving macroeconomic environment.

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Fundamental Scores

LPRO Profitability Score
Profitability Due Diligence

Open Lending Corp's profitability score is 66/100. The higher the profitability score, the more profitable the company is.

Exceptional 3-Year Average ROE
Positive Free Cash Flow
Exceptional 3-Year Average ROIC
Positive Gross Profit
66/100
Profitability
Score

Open Lending Corp's profitability score is 66/100. The higher the profitability score, the more profitable the company is.

LPRO Solvency Score
Solvency Due Diligence

Open Lending Corp's solvency score is 51/100. The higher the solvency score, the more solvent the company is.

Short-Term Solvency
Long-Term Solvency
Negative Net Debt
Low D/E
51/100
Solvency
Score

Open Lending Corp's solvency score is 51/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

LPRO Price Targets Summary
Open Lending Corp

Wall Street analysts forecast LPRO stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for LPRO is 7.27 USD with a low forecast of 5.05 USD and a high forecast of 10.5 USD.

Lowest
Price Target
5.05 USD
25% Downside
Average
Price Target
7.27 USD
8% Upside
Highest
Price Target
10.5 USD
56% Upside
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Dividends

Open Lending Corp
does not pay dividends
Shareholder Yield

Current shareholder yield for LPRO is .

Shareholder yield represents the total return a company provides to its shareholders, calculated as the sum of dividend yield, buyback yield, and debt paydown yield. What is shareholder yield?

Shareholder Yield
Dividend Yield
No dividends
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Ownership

LPRO Insider Trading
Buy and sell transactions by insiders

Cumulative Transactions Amount
Period Sold Bought Net
3 Months
6 Months
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12 Months
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Profile

Open Lending Corp Logo
Open Lending Corp

Country

United States of America

Industry

Financial Services

Market Cap

803.8m USD

Dividend Yield

0%

Description

Open Lending Corp. provides lending enablement and risk analytics to credit unions, regional banks and the captive finance companies of original equipment manufacturers (OEM Captives). The company is headquartered in Austin, Texas and currently employs 132 full-time employees. The company went IPO on 2018-03-02. The firm provides lending enablement and risk analytics to credit unions, regional banks, and the captive finance companies of original equipment manufacturer (OEM). The company also operates as a third-party administrator that adjudicates insurance claims and premium adjustments on those automotive loans. Its Lenders Protection Program (LPP) is an automotive lending program designed to underwrite default insurance on loans made to near-prime and non-prime borrowers. LPP uses risk-based pricing models combined with loan default insurance provided by third-party insurers. LPP enables automotive lenders to assess the credit risk of a potential borrower using data driven analysis, enabling the lender to generate an all-inclusive, insured, interest rate for a loan for the borrower. The company caters to 396 lenders.

Contact

TEXAS
Austin
1501 S. Mopac Expressway, Suite #450
+15128920400.0
www.openlending.com

IPO

2018-03-02

Employees

132

Officers

CEO, Interim CFO & Director
Mr. Charles D. Jehl
Chief Legal & Compliance Officer and Corporate Secretary
Mr. Matthew S. Stark
Chief Revenue Officer
Mr. Matthew R. Roe
Founder
Mr. Richard F. Watkins
Chief Technology Officer
Ms. Sarah Lackey
Senior Vice President of Marketing
Mr. Kevin Filan

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What is the Intrinsic Value of one LPRO stock?

The intrinsic value of one LPRO stock under the Base Case scenario is 7.24 USD.

Is LPRO stock undervalued or overvalued?

Compared to the current market price of 6.74 USD, Open Lending Corp is Undervalued by 7%.

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