CARMEL, Ind., April 16, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its first quarter 2025 financial results after the market closes on Wednesday, May 7, 2025.OPENLANE will also host an earnings conference call and webcast following the release on Wednesday, May 7, 2025, at 5:00 p.m. ET. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENLANE call. A live webcast will be available ...

Openlane (NYSE: KAR ) is one of the largest used car, dealer-to-dealer wholesale marketplaces, accounting for 1.5 million cars sold last year in a wholesale auto market that comprises roughly 15 million units each year with a ~$19,000 average selling price. While Openlane enjoysAnalyst’s Disclosure: I/we have a beneficial long position in the shares of KAR either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensa ...

Financial Data and Key Metrics Changes - OPENLANE reported consolidated revenue of $455 million for Q4 2024, reflecting a 12% increase year-over-year, marking the third consecutive quarter of top-line growth [34] - Adjusted EBITDA for Q4 was $73 million, up 18%, while full-year adjusted EBITDA reached $293 million, an 8% increase [35][58] - Cash flow from operations for the year was $293 million, indicating strong operational performance [8][51] Business Line Data and Key Metrics Changes - Marketplace segment revenue increased by 8% to $349 million, with total volumes up 9%, driven by a 15% increase in dealer volumes and a 5% increase in commercial volumes [37][40] - Marketplace adjusted EBITDA was $31 million for Q4, a 30% increase, and $135 million for the full year, up 24% [40] - The Finance segment saw total finance revenues decrease by 5%, but adjusted EBITDA increased by 10% to $42 million, marking the first year-over-year growth in eight quarters [44][47] Market Data and Key Metrics Changes - The gross merchandise value grew by 12% to $27 billion, indicating strong market momentum [8] - Dealer-to-dealer (D2D) volume growth accelerated to 15% in Q4, the strongest growth of the year, with significant increases in dealer listings and unique sellers [17][62] - The company is well-positioned in both the dealer and commercial segments, with a focus on capturing market share as lease maturities are expected to increase starting in 2026 [19][28] Company Strategy and Development Direction - OPENLANE's growth strategy focuses on delivering the best marketplace, technology, and customer experience, with an emphasis on execution in 2025 [9][13] - The company plans to continue investing in technology and go-to-market strategies to enhance dealer engagement and expand its market presence [20][27] - The integration of commercial inventory into the dealer platform aims to create a seamless experience for users, enhancing the overall value proposition [90][92] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's positioning despite challenges in the off-lease market, anticipating a recovery in volumes starting in 2026 [14][80] - The company is confident in its ability to navigate macroeconomic uncertainties and believes its asset-light model will support continued growth [68][130] - Management highlighted the importance of maintaining a strong balance sheet and cash flow to support ongoing investments and shareholder returns [51][52] Other Important Information - The company completed the sale of its Automotive Key business, which represented approximately 2% to 3% of consolidated net revenue, further simplifying its business model [55] - OPENLANE's CFO, Brad Lakhia, announced this would be his last earnings call, and the company is actively searching for a new CFO [30][31] Q&A Session Summary Question: How are dealers handling trade-ins amid the decline in off-lease vehicles? - Management noted that volumes have been steady, with a 15% growth in D2D volume in Q4, indicating strong dealer activity [62][63] Question: Will Canadian wholesale volumes be affected by tariffs or trade wars? - Management expressed confidence in OPENLANE's ability to thrive in various environments, emphasizing strong progress in both commercial and dealer fronts [66][68] Question: What is the market share and growth outlook for D2D volumes? - Management indicated strong growth in D2D volumes, with a focus on increasing market share in a large total addressable market [72][78] Question: What factors are included in the 2025 guidance? - Management highlighted the impact of the sale of the Automotive Key business, a strong US dollar, and anticipated lower off-lease maturities as key factors influencing guidance [102][104] Question: How is the integration of commercial inventory into the dealer platform progressing? - Management explained that the integration has led to increased vehicle purchases by franchise dealers, enhancing the overall marketplace offering [90][92] Question: What is the competitive landscape expected to look like in 2025? - Management believes that OPENLANE's positioning is stronger than ever, with a focus on delivering better technology and customer experiences to differentiate from competitors [128][130]

Financial Performance - Total operating revenues for the year ended December 31, 2024, were $1,788.5 million, an increase of 5% from $1,695.7 million in 2023[194]. - The company recorded a net income of $109.9 million for the year ended December 31, 2024, compared to a net loss of $154.1 million in 2023[193]. - Income from continuing operations for the year ended December 31, 2024, was $109.9 million, compared to a loss of $154.8 million in 2023[335]. - Adjusted EBITDA for 2024 was $293.4 million, an increase from $272.0 million in 2023, reflecting a year-over-year growth of approximately 7.5%[335]. - Net cash provided by operating activities from continuing operations was $292.8 million in 2024, up from $237.0 million in 2023, indicating a 23.5% increase[337]. Revenue Breakdown - Auction fees increased to $443.8 million in 2024 from $395.3 million in 2023, reflecting a growth of 12%[193]. - Service revenue decreased to $586.6 million in 2024 from $619.7 million in 2023, a decline of 5%[193]. - Total Marketplace revenue increased by $105.7 million, or 8%, to $1,357.4 million for the year ended December 31, 2024, compared to $1,251.7 million in 2023, driven by a 9% increase in the number of vehicles sold[210]. - Gross profit from the Marketplace segment rose by $25.3 million, or 7%, to $393.4 million for the year ended December 31, 2024, compared to $368.1 million in 2023[215]. - Purchased vehicle sales increased by $90.3 million, or 38%, to $327.0 million for the year ended December 31, 2024, attributed to an increase in purchased vehicles sold in Europe[214]. Expenses and Costs - Total operating expenses decreased to $1,606.3 million in 2024 from $1,831.5 million in 2023, a reduction of 12%[193]. - Interest expense decreased to $21.8 million in 2024, down 13% from $25.2 million in 2023[200]. - Selling, general and administrative expenses decreased by $0.8 million, or 2%, to $49.0 million for the year ended December 31, 2024, mainly due to decreases in IT costs and stock-based compensation[231]. - Cost of services for the Finance segment increased by $1.5 million, or 2%, to $67.4 million for the year ended December 31, 2024, primarily due to increases in professional fees, compensation, and travel expenses[230]. Financial Position and Liquidity - Cash and cash equivalents rose to $143.0 million from $93.5 million year-over-year[309]. - Amounts available under the Revolving Credit Facilities increased significantly to $397.9 million from $133.3 million[309]. - The company had $0.0 million drawn on the Revolving Credit Facilities as of December 31, 2024, compared to $137.0 million in the previous year[317]. - The Consolidated Senior Secured Net Leverage Ratio was negative as of December 31, 2024, indicating a strong liquidity position[320]. - The company has committed liquidity of $2.0 billion for U.S. finance receivables as of December 31, 2024[326]. Tax and Impairment - The effective tax rate for the year ended December 31, 2024, was 30.4%, compared to -5.7% in 2023, influenced by goodwill and other intangibles impairment charges[203]. - Goodwill impairment charges totaled $218.9 million for the U.S. Dealer-to-Dealer reporting unit and $6.4 million for the Europe reporting unit in 2023[197]. - The company recorded non-cash goodwill impairment charges totaling $218.9 million related to the U.S. Dealer-to-Dealer reporting unit and $6.4 million related to the Europe reporting unit in 2023[239]. Audit and Compliance - OPENLANE, Inc. reported consolidated financial statements for the years ended December 31, 2024, 2023, and 2022, indicating a fair presentation of financial position[374]. - The audit opinion expressed by KPMG LLP confirmed the effectiveness of the Company's internal control over financial reporting as of December 31, 2024[375]. - The report emphasizes the importance of internal controls in financial reporting, as assessed by the auditor[375]. - The company adheres to U.S. generally accepted accounting principles in its financial reporting[374].

Q4 2024 & Annual Earnings Slides // February 19, 2025 Forward-Looking Statements Certain statements contained in this presentation include, and OPENLANE may make related oral, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements made that are not historical facts (including but not limited to expectations, estimates, assumptions, projections and/or financial guidance) may be forward-looking statements. Words such as "should," "may ...

OPENLANE (KAR) came out with quarterly earnings of $0.21 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.16 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this used and salvaged vehicle auctioneer would post earnings of $0.21 per share when it actually produced earnings of $0.26, delivering a surprise of 23.81%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.OPENLANE, ...

EXHIBIT 99.2 OPENLANE, Inc. Q4 and YTD 2024 Supplemental Financial Information February 19, 2025 OPENLANE, Inc. EBITDA and Adjusted EBITDA Measures EBITDA and Adjusted EBITDA as presented herein are supplemental measures of our performance that are not required by, or presented in accordance with, generally accepted accounting principles in the United States ("GAAP"). They are not measurements of our financial performance under GAAP and should not be considered as substitutes for net income (loss), operatin ...

Core Insights - OPENLANE, Inc. reported positive financial results for Q4 and full-year 2024, with significant growth in its marketplace business, achieving a 15% increase in dealer volumes and a 30% rise in Adjusted EBITDA [2][7] - The company emphasizes its asset-light, digital model's scalability, which has led to increased revenue and reduced costs, resulting in $293 million in Adjusted EBITDA for the year [2][7] Fourth Quarter Highlights - Marketplace total volume grew by 9% year-over-year, with dealer volume increasing by 15% - Consolidated revenue reached $455 million, marking a 12% year-over-year growth, driven by an 18% increase in Marketplace revenue - Consolidated Adjusted EBITDA for Q4 was $73 million, reflecting an 18% year-over-year growth [7][12] Full Year Highlights - For the full year, consolidated revenue was $1,789 million, representing a 5% year-over-year growth, with Marketplace growth at 8% - Consolidated income from continuing operations was $110 million, with Marketplace contributing $2 million - Consolidated Adjusted EBITDA for the year was $293 million, an 8% increase year-over-year [7][12] 2025 Guidance - The company provided guidance for 2025, projecting income from continuing operations between $100 million and $114 million - Adjusted EBITDA is expected to range from $290 million to $310 million - Operating adjusted net income from continuing operations per diluted share is forecasted to be between $0.90 and $1.00 [4][24][25] Financial Performance Metrics - Q4 2024 Adjusted EBITDA for the Marketplace was $31 million, a 30% increase year-over-year - Full-year 2024 cash flow from operating activities was $293 million - Gross Merchandise Value (GMV) for the year was approximately $27 billion, representing a 12% year-over-year growth [7][12]

CARMEL, Ind., Jan. 29, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its fourth quarter and full year 2024 financial results after the market closes on Wednesday, Feb. 19, 2025.OPENLANE will also host an earnings conference call and webcast following the release on Wednesday, Feb. 19, 2025, at 5:00 p.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. Th ...

OPENLANE (KAR) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.Individual inves ...