Open Lending Corp Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2025 12 months to Dec 31, 2025	FY2024 12 months to Dec 31, 2024	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021
Cash flows from operating activities
Net income (loss)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Share-based compensation
Depreciation and amortization
Amortization of deferred financing cost
Non-cash operating lease cost
Gain on extinguishment of tax receivable agreement
Deferred income taxes
Change in fair value of contingent consideration
Non-cash interest expense
Other
Changes in operating assets and liabilities:
Accounts receivable, net
Contract assets, net
Operating lease right-of-use assets
Prepaid expenses
Excess profit share receipts
Other current and non-current assets
Accounts payable
Accrued expenses
Income tax receivable, net
Operating lease liabilities
Third-party claims administration liability
Other current and non-current liabilities

Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property and equipment
Capitalized software development costs
Net cash used in investing activities
Cash flows from financing activities
Proceeds from term loans
Proceeds from revolving facility
Payments on revolving credit facility
Payment of deferred financing cost
Payments on term loans
Shares repurchased
Payment of excise tax on shares repurchased
Shares withheld for taxes related to restricted stock units
Settlement of tax receivable agreement
Distributions to Open Lending, LLC unitholders
Proceeds from exercise of public warrants
Recapitalization transaction, net of transaction costs
Net cash used in financing activities

Net change in cash and cash equivalents and restricted cash
Cash and cash equivalents and restricted cash at the beginning of the period
Cash and cash equivalents and restricted cash at the end of the period
Supplemental disclosure of cash flow information:
Interest paid
Income tax paid (refunded), net
Non-cash investing and financing:
Change in fair value of redeemable convertible Series C preferred units
Conversion of preferred units to common stock
Fixed assets accrued but not paid
Right-of-use assets obtained in exchange for lease obligations
Share-based compensation for capitalized software development
Capitalized software development costs accrued but not paid
Accrued excise tax associated with share repurchases

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