Open Lending Corp-A 2026年季度报告

SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the quarterly period ended March31, 2026 For the transition period from ______________ to ______________Commission File Number: 001-39326 OPEN LENDING CORPORATION Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) ofthe Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for suchshorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-acceleratedfiler, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the ExchangeAct).Yes☐No☒ As of May5, 2026, the registrant had 118,217,082 shares of common stock, $0.01 par value per share, outstanding. PART I.Financial Information Item 1.Condensed Consolidated Financial Statements (Unaudited) Condensed Consolidated Balance Sheets Condensed Consolidated Statements of Operations Condensed Consolidated Statements of Changes in Stockholders’ Equity5Condensed Consolidated Statements of Cash Flows6 Table of Contents PART I.FINANCIAL INFORMATION OPEN LENDING CORPORATIONCondensed Consolidated Balance Sheets(Unaudited)(In thousands, except share data) OPEN LENDING CORPORATIONCondensed Consolidated Statements of Operations Table of Contents OPEN LENDING CORPORATIONNotes to Condensed Consolidated Financial Statements Note 1—Description of Business, Background and Nature of Operations Open Lending Corporation and its subsidiaries (“Company,” “we,” “us” and “our”), headquartered in Austin, Texas,provides loan analytics, risk-based loan pricing, risk modeling and automated decision technology for automotive lendersthroughout the United States of America (the “U.S.”), which enables each lending institution to book near-prime and non- Our flagship product, Lenders Protection LPP supports loans made to near-prime and non-prime borrowers and is designed to underwrite default insurance by linking automotive lenders to our insurance partners. The platform uses risk-based pricing models that enable automotivelenders to assess the credit risk of a potential borrower using data driven analysis. Our proprietary risk models project loanperformance,including expected losses and prepayments,in arriving at the optimal contract interest rate.LPPrecommends a risk-based, all-inclusive interest rate for a loan that is customized to each automotive lender, reflecting cost In addition, in November 2025, we announced the launch of ApexOne Auto, a cloud-based advanced decisioning platformthat expands our capabilities to support loans made to prime borrowers. Like LPP, ApexOne Auto uses risk-based pricingmodels to arrive at an all-inclusive interest rate for a loan that is customized to each automotive lender, reflecting cost ofcapital, loan servicing and acquisition costs, expected recovery rates and target return on assets. Unlike with loans All of our operations and assets are in the U.S., and all of our revenues are attributable to U.S. customers. Note 2—Summary of Significant Accounting and Reporting Policies The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S.Generally Accepted Accounting Principles (“GAAP”) and include the accounts of Open Lending Corporation and all its Certain information and footnote disclosures normally included in annual financial statements prepared in accordance withGAAP have been omitted from these condensed consolidated financial statements, as permitted by Securities andExchange Commission (“SEC”) rules and regulations. We believe the disclosures made in these condensed consolidated The interim data includes all normal adjustments that are, in our opinion, necessary for a fair statement of the results forthe interim periods presented. The results of operations for the three months ended March31, 2026 are not necessarily Use of Estimates and Judgments The preparation of condensed consolidated financial statements in conformity with GAAP requires management to makeestimates and assumptions that affect the reported amounts in the condensed consolidated f