Financial Data and Key Metrics Changes - OPENLANE's consolidated net revenue increased by 4% year-over-year, driven by a 13% unit volume growth in the marketplace segment [33][94] - Adjusted EBITDA reached $75 million, a $16 million increase from the previous year, with a 40% growth in marketplace adjusted EBITDA [27][31][94] - Cash flow from operating activities was $100 million, with consolidated net leverage approximately 1 times adjusted EBITDA [29][41] Business Line Data and Key Metrics Changes - The marketplace segment saw a 13% increase in total volumes, primarily driven by the U.S. business, while dealer volumes declined, particularly in Canada [12][35] - Commercial off-lease volumes were significantly up, outperforming the U.S. commercial market, indicating strong growth potential [16][21] - The absolute sale feature has led to increased buyer engagement, with participating sellers seeing an average sale price increase of nearly $500 [43][104] Market Data and Key Metrics Changes - The U.S. market experienced increased supply from selling dealers, leading to a growth in open marketplace transactions [13][52] - Canadian dealer volumes faced headwinds, with a shift towards commercial vehicles as supply improved [12][35] - The overall market share in digital transactions is believed to have increased, with OPENLANE outperforming physical auctions [78][93] Company Strategy and Development Direction - OPENLANE aims to build the world's greatest digital marketplace for used vehicles, focusing on growth in volume, market share, and financial results [15][96] - The company is investing in technology and innovation to enhance customer experience and operational efficiency [24][96] - There is a strong emphasis on expanding relationships with large dealer groups and transitioning them from physical auctions to digital platforms [22][96] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future off-lease volumes as lease originations are rising, which is expected to positively impact the business [21][63] - The company remains committed to managing risk in its finance business while focusing on responsible growth [23][39] - The expectation for adjusted EBITDA for 2024 remains unchanged, projected between $285 million and $305 million [48] Other Important Information - The company is cash flow positive with a strong balance sheet, allowing for continued investment in innovation without sacrificing financial results [24][41] - The implementation of a new customer NPS framework aims to enhance customer experience and inform product development [30] Q&A Session Summary Question: Can you provide insights on dealer-to-dealer volumes and profitability? - Management noted a significant improvement in U.S. dealer-to-dealer profitability, which has transitioned to a positive contributor to overall earnings [53][56] Question: What is the expected cadence for profitability in the U.S. D2D business? - The D2D business has been a positive contributor for several quarters, and management expects this trend to continue despite seasonal dynamics [58][59] Question: How do you see the off-lease dynamic playing out in the second half of the year? - Management anticipates an increase in vehicles entering remarketing due to a drop in consumer buyout percentages, which should positively impact volumes [60][62] Question: What is the market share in closed auctions? - Management confirmed that a significant portion of off-lease vehicles sells in closed auctions, which are crucial for OEMs and franchise dealer networks [84] Question: How is the absolute sale feature performing? - The absolute sale feature has gained popularity, leading to increased seller confidence and higher sale prices [104][108]

OPENLANE (KAR) came out with quarterly earnings of $0.19 per share, missing the Zacks Consensus Estimate of $0.21 per share. This compares to earnings of $0.12 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -9.52%. A quarter ago, it was expected that this used and salvaged vehicle auctioneer would post earnings of $0.13 per share when it actually produced earnings of $0.16, delivering a surprise of 23.08%.Over the last four q ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-34568 OPENLANE, Inc. (Exact name of Registrant as specified in its charter) Delaware 20-8744739 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 11299 N. Illinois Street, Suite 500, Carmel, Indiana 46032 (Address of principal executive offices ...

Forward-Looking Statements | --- | --- | --- | |----------------------------------------------------------------------------------|-------|-----------------------| | (in millions, except per share amounts) (unaudited) | Low | 2024 GUIDANCE \nHigh | | Income from continuing operations | $74 | $88 | | Add back: | | | | Income taxes | 49 | 59 | | Interest expense, net of interest income | 156 | 154 | | Depreciation and amortization | 106 | 104 | | EBITDA | $385 | $405 | | Total addbacks/(deductions), net | (10 ...

EXHIBIT 99.1 EARNINGS RELEASE For Immediate Release Mike Eliason Laurie Dippold mike.eliason@openlane.com laurie.dippold@openlane.com Analyst Inquiries: Media Inquiries: (317) 249-4559 (317) 468-3900 • Marketplace volumes increased 13% YoY • Gross Merchandise Value (GMV) increased 17% to $7 billion YoY • Income from continuing operations of $19 million • Adjusted EBITDA of $75 million, with Marketplace accelerating to 47% of total • $100 million of cash flow from operating activities Earnings Conference Cal ...

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider OPENLANE (KAR) . This company, which is in the Zacks Automotive - Original Equipment industry, shows potential for another earnings beat.This used and salvaged vehicle auctioneer has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quar ...

CARMEL, Ind., April 16, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its first quarter 2024 financial results after the market closes on Wednesday, May 1, 2024. OPENLANE will also host an earnings conference call and webcast following the release on Wednesday, May 1, 2024, at 4:30 p.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. The conference call ...

OPENLANE, Inc. (NYSE:KAR) Q4 2023 Earnings Conference Call February 20, 2024 5:00 PM ET Company Participants Michael Eliason - Treasurer and VP, IR Peter Kelly - CEO Brad Lakhia - EVP and CFO Conference Call Participants Rajat Gupta - JPMorgan Craig Kennison - Baird John Murphy - Bank of America Merrill Lynch Gary Prestopino - Barrington Research Pete Lukas - CJS Securities Daniel Imbro - Stephens Bret Jordan - Jefferies Operator Good day, and welcome to OPENLANE's 2023 Year End Earnings Call. All participa ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 11299 N. Illinois Street, Carmel, Indiana 46032 (Address of principal executive offices, including zip code) Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-34568 OPENLANE, Inc. (Exact name of Registrant as ...

OPENLANE, Inc. (NYSE:KAR) Q3 2023 Earnings Conference Call November 1, 2023 5:00 PM ET Company Participants Michael Eliason - Treasurer and VP, IR Peter Kelly - CEO Brad Lakhia - EVP and CFO Conference Call Participants Craig Kennison - Baird Gary Prestopino - Barrington Research Lee Jagoda - CJS Securities Bret Jordan - Jefferies Rajat Gupta - JPMorgan Daniel Imbro - Stephens Operator Good day, and welcome to the OPENLANE Third Quarter 2023 Earnings Conference Call. [Operator Instructions] Please note toda ...