$LPRO
Open Lending Corp Stock $lpro

$lpro Overview Financials Valuation SEC Filings Company Website

2021 Q4 Form 10-Q Financial Statement

#000162828021023144 Filed on November 12, 2021

Income Statement

Concept	2021 Q4	2021 Q3	2020 Q3
Revenue	$51.63M	$58.89M	$29.76M
YoY Change	30.27%	97.88%	34.65%
Cost Of Revenue	$4.739M	$6.380M	$2.496M
YoY Change	59.56%	155.61%	29.8%
Gross Profit	$46.89M	$52.51M	$27.27M
YoY Change	27.89%	92.59%	35.11%
Gross Profit Margin	90.82%	89.17%	91.61%
Selling, General & Admin	$9.944M	$10.51M	$7.133M
YoY Change	-15.01%	47.27%	40.61%
% of Gross Profit	21.21%	20.0%	26.16%
Research & Development	$1.720M	$1.268M	$579.0K
YoY Change	152.94%	119.0%	98.97%
% of Gross Profit	3.67%	2.41%	2.12%
Depreciation & Amortization	$293.0K	$292.0K	$440.0K
YoY Change	-55.61%	-33.64%
% of Gross Profit	0.62%	0.56%	1.61%
Operating Expenses	$11.66M	$11.77M	$7.712M
YoY Change	-5.78%	52.66%	43.77%
Operating Profit	$35.23M	$40.74M	$19.55M
YoY Change	45.05%	108.34%	31.97%
Interest Expense	-$453.0K	$959.0K	$3.572M
YoY Change	-87.13%	-73.15%	5002.86%
% of Operating Profit	-1.29%	2.35%	18.27%
Other Income/Expense, Net	$11.00K	$3.000K	$0.00
YoY Change	-100.25%
Pretax Income	$34.79M	$39.82M	-$67.11M
YoY Change	112.23%	-159.33%	-554.78%
Income Tax	$6.945M	$10.40M	$4.000M
% Of Pretax Income	19.97%	26.12%
Net Earnings	$27.84M	$29.41M	-$71.13M
YoY Change	83.13%	-141.35%	-583.37%
Net Earnings / Revenue	53.92%	49.95%	-239.01%
Basic Earnings Per Share		$0.23	-$0.62
Diluted Earnings Per Share	$220.6K	$0.23	-$0.62
COMMON SHARES
Basic Shares Outstanding	126.2M shares	126.2M shares	115.2M shares
Diluted Shares Outstanding		126.2M shares	115.2M shares

Balance Sheet

Concept	2021 Q4	2021 Q3	2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$116.5M	$90.86M	$115.2M
YoY Change	14.73%	-21.13%	12700.0%
Cash & Equivalents	$116.5M	$90.86M	$115.2M
Short-Term Investments
Other Short-Term Assets	$4.873M	$753.0K	$5.168M
YoY Change	141.48%	-85.43%
Inventory
Prepaid Expenses	$2.479M	$3.436M	$2.975M
Receivables	$6.525M	$6.874M	$3.392M
Other Receivables	$1.345M	$0.00	$0.00
Total Short-Term Assets	$202.8M	$165.6M	$157.1M
YoY Change	24.58%	5.38%	17357.22%
LONG-TERM ASSETS
Property, Plant & Equipment	$2.663M	$2.664M	$1.315M
YoY Change	121.73%	102.59%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$262.0K	$124.0K	$181.0K
YoY Change	111.29%	-31.49%
Total Long-Term Assets	$116.0M	$127.7M	$137.8M
YoY Change	-11.58%	-7.34%	-51.12%
TOTAL ASSETS
Total Short-Term Assets	$202.8M	$165.6M	$157.1M
Total Long-Term Assets	$116.0M	$127.7M	$137.8M
Total Assets	$318.8M	$293.2M	$294.9M
YoY Change	8.44%	-0.56%	4.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.285M	$1.430M	$2.283M
YoY Change	-62.67%	-37.36%
Accrued Expenses	$3.984M	$7.361M	$1.409M
YoY Change	31.36%	422.43%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$3.125M	$3.125M	$4.700M
YoY Change	-36.07%	-33.51%
Total Short-Term Liabilities	$12.07M	$17.05M	$13.13M
YoY Change	-29.06%	29.85%	994.25%
LONG-TERM LIABILITIES
Long-Term Debt	$143.1M	$143.8M	$154.1M
YoY Change	-6.36%	-6.67%
Other Long-Term Liabilities	$0.00	$0.00	$88.09M
YoY Change	-100.0%	-100.0%	817.6%
Total Long-Term Liabilities	$143.1M	$143.8M	$88.09M
YoY Change	-6.37%	63.27%	817.6%
TOTAL LIABILITIES
Total Short-Term Liabilities	$12.07M	$17.05M	$13.13M
Total Long-Term Liabilities	$143.1M	$143.8M	$88.09M
Total Liabilities	$159.8M	$165.7M	$260.6M
YoY Change	-40.22%	-36.44%	2313.19%
SHAREHOLDERS EQUITY
Retained Earnings	-$282.4M	-$310.2M	-$443.4M
YoY Change	-34.07%	-30.05%
Common Stock	$1.282M	$1.282M	$1.269M
YoY Change	0.0%	1.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$56.84M	$57.50M
YoY Change	51.58%
Treasury Stock Shares	1.985M shares	2.008M shares
Shareholders Equity	$159.0M	$127.6M	$34.28M
YoY Change
Total Liabilities & Shareholders Equity	$318.8M	$293.2M	$294.9M
YoY Change	8.44%	-0.56%	4.28%

Cashflow Statement

Concept	2021 Q4	2021 Q3	2020 Q3
OPERATING ACTIVITIES
Net Income	$27.84M	$29.41M	-$71.13M
YoY Change	83.13%	-141.35%	-583.37%
Depreciation, Depletion And Amortization	$293.0K	$292.0K	$440.0K
YoY Change	-55.61%	-33.64%
Cash From Operating Activities	$26.73M	$35.44M	$4.370M
YoY Change	223.64%	710.98%	-5562.5%
INVESTING ACTIVITIES
Capital Expenditures	-$202.0K	-$944.0K	-$680.0K
YoY Change	102.0%	38.82%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities	-$202.0K	-$944.0K	-$680.0K
YoY Change	102.0%	38.82%	-1800.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-782.0K	-781.0K	85.41M
YoY Change	-96.41%	-100.91%
NET CHANGE
Cash From Operating Activities	26.73M	35.44M	4.370M
Cash From Investing Activities	-202.0K	-944.0K	-680.0K
Cash From Financing Activities	-782.0K	-781.0K	85.41M
Net Change In Cash	25.75M	33.72M	89.10M
YoY Change	-289.05%	-62.16%	-222850.0%
FREE CASH FLOW
Cash From Operating Activities	$26.73M	$35.44M	$4.370M
Capital Expenditures	-$202.0K	-$944.0K	-$680.0K
Free Cash Flow	$26.94M	$36.38M	$5.050M
YoY Change	222.19%	620.48%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	dei	Amendment Flag AmendmentFlag	false
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2021
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	dei	Entity Central Index Key EntityCentralIndexKey	0001806201
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Type DocumentType	10-Q
	dei	Entity Address Address Line1 EntityAddressAddressLine1	1501 S. MoPac Expressway
	dei	Entity Registrant Name EntityRegistrantName	OPEN LENDING CORPORATION
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	84-5031428
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2021-09-30
	dei	Document Transition Report DocumentTransitionReport	false
	dei	Entity File Number EntityFileNumber	001-39326
	dei	Entity Address Address Line2 EntityAddressAddressLine2	Suite 450
	dei	Entity Address City Or Town EntityAddressCityOrTown	Austin
	dei	Entity Address State Or Province EntityAddressStateOrProvince	TX
	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	78746
	dei	City Area Code CityAreaCode	512
	dei	Local Phone Number LocalPhoneNumber	892-0400
	dei	Security12b Title Security12bTitle	Common stock, par value $0.01 per share
	dei	Trading Symbol TradingSymbol	LPRO
	dei	Security Exchange Name SecurityExchangeName	NASDAQ
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	false
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
	dei	Entity Ex Transition Period EntityExTransitionPeriod	false
	dei	Entity Shell Company EntityShellCompany	false
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CY2021Q3	us-gaap	Contract With Customer Asset Net Current ContractWithCustomerAssetNetCurrent	60739000	USD
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	lpro	Noncash Adjustment To Redemption Amount Of The Redeemable Convertible Preferred Units NoncashAdjustmentToRedemptionAmountOfTheRedeemableConvertiblePreferredUnits	0	USD
	lpro	Noncash Adjustment To Redemption Amount Of The Redeemable Convertible Preferred Units NoncashAdjustmentToRedemptionAmountOfTheRedeemableConvertiblePreferredUnits	-47537000	USD
CY2021Q3	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	29414000	USD
CY2020Q3	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-71133000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	118242000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-105918000	USD
CY2021Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.23
CY2020Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.62
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.94
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-1.56
CY2021Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.23
CY2020Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.62
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.94
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-1.56
CY2021Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	126190351	shares
CY2020Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	115189532	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	126405822	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	67828046	shares
CY2021Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	126247499	shares
CY2020Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	115189532	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	126451119	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	67828046	shares
CY2020Q4	us-gaap	Stockholders Equity StockholdersEquity	26622000	USD
CY2021Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	701000	USD
CY2021Q1	us-gaap	Net Income Loss NetIncomeLoss	12862000	USD
CY2021Q1	us-gaap	Stockholders Equity StockholdersEquity	40185000	USD
CY2021Q2	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	927000	USD
CY2021Q2	us-gaap	Stock Repurchased During Period Value StockRepurchasedDuringPeriodValue	20000000	USD
CY2021Q2	us-gaap	Net Income Loss NetIncomeLoss	75966000	USD
CY2021Q2	us-gaap	Stockholders Equity StockholdersEquity	97078000	USD
CY2021Q3	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	1098000	USD
CY2021Q3	us-gaap	Net Income Loss NetIncomeLoss	29414000	USD
CY2021Q3	us-gaap	Stockholders Equity StockholdersEquity	127590000	USD
CY2019Q4	us-gaap	Stockholders Equity StockholdersEquity	-234779000	USD
CY2020Q1	lpro	Fair Value Adjustment Of Redemption Option FairValueAdjustmentOfRedemptionOption	47537000	USD
CY2020Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	487000	USD
CY2020Q1	us-gaap	Dividends Dividends	135380000	USD
CY2020Q1	us-gaap	Net Income Loss NetIncomeLoss	8172000	USD
CY2020Q1	us-gaap	Stockholders Equity StockholdersEquity	-313963000	USD
CY2020Q2	us-gaap	Reclassifications Of Temporary To Permanent Equity ReclassificationsOfTemporaryToPermanentEquity	242543000	USD
CY2020Q2	us-gaap	Adjustments To Additional Paid In Capital Other AdjustmentsToAdditionalPaidInCapitalOther	1874000	USD
CY2020Q2	lpro	Adjustments To Additional Paid In Capital Fair Value Of Contingent Consideration AdjustmentsToAdditionalPaidInCapitalFairValueOfContingentConsideration	347089000	USD
CY2020Q2	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	2189000	USD
CY2020Q2	us-gaap	Net Income Loss NetIncomeLoss	-49805000	USD
CY2020Q2	us-gaap	Stockholders Equity StockholdersEquity	-464251000	USD
CY2020Q3	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	90645000	USD
CY2020Q3	us-gaap	Net Income Loss NetIncomeLoss	-71133000	USD
CY2020Q3	us-gaap	Stockholders Equity StockholdersEquity	34282000	USD
	us-gaap	Net Income Loss NetIncomeLoss	118242000	USD
	us-gaap	Net Income Loss NetIncomeLoss	-112766000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	2726000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	2676000	USD
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	829000	USD
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	787000	USD
	us-gaap	Operating Lease Right Of Use Asset Amortization Expense OperatingLeaseRightOfUseAssetAmortizationExpense	405000	USD
	us-gaap	Operating Lease Right Of Use Asset Amortization Expense OperatingLeaseRightOfUseAssetAmortizationExpense	325000	USD
	lpro	Gain Loss On Extinguishment Of Tax Receivable Agreement GainLossOnExtinguishmentOfTaxReceivableAgreement	55422000	USD
	lpro	Gain Loss On Extinguishment Of Tax Receivable Agreement GainLossOnExtinguishmentOfTaxReceivableAgreement	0	USD
	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	-8778000	USD
	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	0	USD
	us-gaap	Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1	0	USD
	us-gaap	Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1	131932000	USD
	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	19176000	USD
	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	4683000	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	2522000	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-375000	USD
	us-gaap	Increase Decrease In Contract With Customer Asset IncreaseDecreaseInContractWithCustomerAsset	24920000	USD
	us-gaap	Increase Decrease In Contract With Customer Asset IncreaseDecreaseInContractWithCustomerAsset	10037000	USD
	lpro	Increase Decrease In Operating Leases Right Of Use Assets IncreaseDecreaseInOperatingLeasesRightOfUseAssets	0	USD
	lpro	Increase Decrease In Operating Leases Right Of Use Assets IncreaseDecreaseInOperatingLeasesRightOfUseAssets	523000	USD
	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	1563000	USD
	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	1415000	USD
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	-1265000	USD
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	2002000	USD
	us-gaap	Increase Decrease In Accounts Payable Trade IncreaseDecreaseInAccountsPayableTrade	-2012000	USD
	us-gaap	Increase Decrease In Accounts Payable Trade IncreaseDecreaseInAccountsPayableTrade	946000	USD
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	4328000	USD
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	-597000	USD
	us-gaap	Increase Decrease In Accrued Income Taxes Payable IncreaseDecreaseInAccruedIncomeTaxesPayable	-533000	USD
	us-gaap	Increase Decrease In Accrued Income Taxes Payable IncreaseDecreaseInAccruedIncomeTaxesPayable	544000	USD
	lpro	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	558000	USD
	lpro	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	280000	USD
	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	204000	USD
	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	1727000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	68423000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	16375000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	1785000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	1097000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-1785000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-1097000	USD
	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable	125000000	USD
	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable	170000000	USD
	us-gaap	Proceeds From Long Term Lines Of Credit ProceedsFromLongTermLinesOfCredit	50000000	USD
	us-gaap	Proceeds From Long Term Lines Of Credit ProceedsFromLongTermLinesOfCredit	0	USD
	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	168409000	USD
	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	5443000	USD
	us-gaap	Repayments Of Long Term Lines Of Credit RepaymentsOfLongTermLinesOfCredit	25000000	USD
	us-gaap	Repayments Of Long Term Lines Of Credit RepaymentsOfLongTermLinesOfCredit	0	USD
	lpro	Payments Of Deferred Financings Costs PaymentsOfDeferredFinancingsCosts	1669000	USD
	lpro	Payments Of Deferred Financings Costs PaymentsOfDeferredFinancingsCosts	9767000	USD
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	20000000	USD
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	0	USD
	lpro	Payments For Settlement Of Tax Receivable Agreement PaymentsForSettlementOfTaxReceivableAgreement	36948000	USD
	lpro	Payments For Settlement Of Tax Receivable Agreement PaymentsForSettlementOfTaxReceivableAgreement	0	USD
	us-gaap	Payments Of Dividends PaymentsOfDividends	0	USD
	us-gaap	Payments Of Dividends PaymentsOfDividends	135380000	USD
	us-gaap	Proceeds From Warrant Exercises ProceedsFromWarrantExercises	0	USD
	us-gaap	Proceeds From Warrant Exercises ProceedsFromWarrantExercises	88042000	USD
	lpro	Payments For Recapitalization Net Of Transaction Costs PaymentsForRecapitalizationNetOfTransactionCosts	0	USD
	lpro	Payments For Recapitalization Net Of Transaction Costs PaymentsForRecapitalizationNetOfTransactionCosts	14862000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-77026000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	92590000	USD
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-10388000	USD
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	107868000	USD
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	104148000	USD
CY2019Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	9898000	USD
CY2021Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	93760000	USD
CY2020Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	117766000	USD
	us-gaap	Interest Paid Net InterestPaidNet	4545000	USD
	us-gaap	Interest Paid Net InterestPaidNet	7209000	USD
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	19397000	USD
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	158000	USD
	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	0	USD
	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	5375000	USD
	lpro	Temporary Equity Fair Value Adjustment Of Redemption Option TemporaryEquityFairValueAdjustmentOfRedemptionOption	0	USD
	lpro	Temporary Equity Fair Value Adjustment Of Redemption Option TemporaryEquityFairValueAdjustmentOfRedemptionOption	-47537000	USD
	us-gaap	Conversion Of Stock Amount Converted1 ConversionOfStockAmountConverted1	0	USD
	us-gaap	Conversion Of Stock Amount Converted1 ConversionOfStockAmountConverted1	257406000	USD
	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	1	segment
CY2021Q3	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	Concentrations of revenue and credit risks<div style="margin-top:6pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s business relationships with its three insurance partners generated approximately 63% and 65% of the Company’s total revenue for each of the three and nine months ended September 30, 2021, respectively, with the top insurance partner accounting for approximately 63% of the total profit share revenue. In the event that one or more of the Company’s insurance partners or other significant customers terminate their relationships with the Company, or elect to utilize an alternative source to price its auto loans, the number of loans originated through the Lender’s Protection Platform (“LPP”) would decline, which would materially and adversely affect its business and, in turn, its revenue.</span></div><div style="margin-top:6pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to credit risk consist of cash and cash equivalents, restricted cash and accounts receivable to the extent of the amounts recorded on the balance sheets.</span></div><div style="margin-top:6pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash and cash equivalents are deposited in commercial analysis and savings accounts at two financial institutions, both with high credit standing. Restricted cash relates to funds held by the Company on behalf of the insurance carriers, delegated for the use of insurance claim payments. Restricted cash is deposited in commercial analysis accounts at one financial institution. At times, such deposits may be in excess of the Federal Deposit Insurance Corporation insurance limits of $250,000 per institution. The Company has not experienced any losses on its deposits of cash and cash equivalents and management believes the Company is not exposed to significant risks on such accounts.</span></div>The Company’s accounts receivables are derived from revenue earned from customers. The Company performs credit evaluations of its customers’ financial condition.
	us-gaap	Use Of Estimates UseOfEstimates	Use of estimates and judgments<div style="margin-top:6pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates, and those differences may be material. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognized prospectively.</span></div><div style="margin-top:6pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The most significant items subject to such estimates and assumptions include, but are not limited to, profit share revenue recognition and the corresponding impact on contract assets, the recognition of the valuations of share-based compensation arrangements, and assessing the realizability of deferred tax assets. These estimates, although based on actual historical trend and modeling, may potentially show significant variances over time.</span></div><div style="margin-top:6pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In connection with profit share revenue recognition and the estimation of contract assets under Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASC 606”), the Company uses forecasts of loan-level earned premium and insurance claim payments. These forecasts are driven by the projection of loan defaults, prepayments and default severity rates. These assumptions are based on the Company’s observations of the historical behavior for loans with similar risk characteristics. The assumptions also take into consideration the forecast adjustments under various macroeconomic conditions, including the potential impact from the COVID-19 pandemic, and the current mix of the underlying portfolio of the Company’s insurance partners. As the Company closely monitors the development of the pandemic and its ongoing impact on its business, management has accordingly adjusted these assumptions during the three and nine months ended September 30, 2021 as a result of changes in facts and circumstances and general market conditions derived from the COVID-19 pandemic.</span></div>
CY2021Q3	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	1485000	USD
CY2020Q4	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	9066000	USD
CY2021Q3	us-gaap	Long Term Debt LongTermDebt	146953000	USD
CY2020Q4	us-gaap	Long Term Debt LongTermDebt	157747000	USD
CY2021Q3	us-gaap	Long Term Debt Current LongTermDebtCurrent	3125000	USD
CY2020Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2020Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	4888000	USD
CY2021Q3	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	143828000	USD
CY2020Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	152859000	USD
CY2020Q1	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	-8800000	USD
CY2021Q3	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	1500000	USD
CY2020Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	550000000	shares
CY2020Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2020Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	91849909	shares
CY2020Q2	lpro	Common Stock Shares Issued Subject To Lock Up And Forfeiture Arrangements CommonStockSharesIssuedSubjectToLockUpAndForfeitureArrangements	3437500	shares
CY2020Q2	lpro	Common Stock Shares Outstanding Subject To Lock Up And Forfeiture Arrangements CommonStockSharesOutstandingSubjectToLockUpAndForfeitureArrangements	3437500	shares
CY2020Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2020Q2	us-gaap	Class Of Warrant Or Right Outstanding ClassOfWarrantOrRightOutstanding	9166659	shares
CY2020Q2	us-gaap	Share Price SharePrice	18.00
CY2021Q2	us-gaap	Treasury Stock Shares Acquired TreasuryStockSharesAcquired	612745	shares
CY2021Q2	us-gaap	Treasury Stock Value Acquired Cost Method TreasuryStockValueAcquiredCostMethod	20000000	USD
CY2021Q2	us-gaap	Treasury Stock Value Acquired Cost Method TreasuryStockValueAcquiredCostMethod	20000000	USD
CY2021Q2	us-gaap	Contract With Customer Asset Net ContractWithCustomerAssetNet	111933000	USD
CY2021Q3	us-gaap	Contract With Customer Asset Increase Decrease For Contract Acquired In Business Combination ContractWithCustomerAssetIncreaseDecreaseForContractAcquiredInBusinessCombination	51371000	USD
CY2021Q3	us-gaap	Contract With Customer Asset Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress	-7515000	USD
CY2021Q3	us-gaap	Contract With Customer Asset Reclassified To Receivable ContractWithCustomerAssetReclassifiedToReceivable	21197000	USD
CY2021Q3	lpro	Payments Received From Insurance Carriers PaymentsReceivedFromInsuranceCarriers	35360000	USD
CY2021Q3	us-gaap	Contract With Customer Asset Net ContractWithCustomerAssetNet	114262000	USD
CY2020Q4	us-gaap	Contract With Customer Asset Net ContractWithCustomerAssetNet	89342000	USD
	us-gaap	Contract With Customer Asset Increase Decrease For Contract Acquired In Business Combination ContractWithCustomerAssetIncreaseDecreaseForContractAcquiredInBusinessCombination	139605000	USD
	us-gaap	Contract With Customer Asset Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress	-24414000	USD
	us-gaap	Contract With Customer Asset Reclassified To Receivable ContractWithCustomerAssetReclassifiedToReceivable	56100000	USD
	lpro	Payments Received From Insurance Carriers PaymentsReceivedFromInsuranceCarriers	82999000	USD
CY2021Q3	us-gaap	Contract With Customer Asset Net ContractWithCustomerAssetNet	114262000	USD
CY2021Q3	us-gaap	Contract With Customer Asset Net Current ContractWithCustomerAssetNetCurrent	60700000	USD
CY2020Q4	us-gaap	Contract With Customer Asset Net Current ContractWithCustomerAssetNetCurrent	50400000	USD
CY2021Q3	us-gaap	Contract With Customer Asset Net Noncurrent ContractWithCustomerAssetNetNoncurrent	53500000	USD
CY2020Q4	us-gaap	Contract With Customer Asset Net Noncurrent ContractWithCustomerAssetNetNoncurrent	39000000	USD
CY2021Q3	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	1098000	USD
CY2020Q3	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	0	USD
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	2726000	USD
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	2676000	USD
CY2021Q3	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	1098000	USD
CY2020Q3	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	0	USD
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	2726000	USD
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	2676000	USD
CY2021Q3	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized	12528000	USD
	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1 EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1	P3Y3D
CY2021Q3	us-gaap	Net Income Loss NetIncomeLoss	29414000	USD
CY2020Q3	us-gaap	Net Income Loss NetIncomeLoss	-71133000	USD
	us-gaap	Net Income Loss NetIncomeLoss	118242000	USD
	us-gaap	Net Income Loss NetIncomeLoss	-112766000	USD
CY2021Q3	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	0	USD
CY2020Q3	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	0	USD
	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	0	USD
	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	40689000	USD
CY2021Q3	lpro	Noncash Adjustment To Redemption Amount Of The Redeemable Convertible Preferred Units NoncashAdjustmentToRedemptionAmountOfTheRedeemableConvertiblePreferredUnits	0	USD
CY2020Q3	lpro	Noncash Adjustment To Redemption Amount Of The Redeemable Convertible Preferred Units NoncashAdjustmentToRedemptionAmountOfTheRedeemableConvertiblePreferredUnits	0	USD
	lpro	Noncash Adjustment To Redemption Amount Of The Redeemable Convertible Preferred Units NoncashAdjustmentToRedemptionAmountOfTheRedeemableConvertiblePreferredUnits	0	USD
	lpro	Noncash Adjustment To Redemption Amount Of The Redeemable Convertible Preferred Units NoncashAdjustmentToRedemptionAmountOfTheRedeemableConvertiblePreferredUnits	-47537000	USD
CY2021Q3	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	29414000	USD
CY2020Q3	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-71133000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	118242000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-105918000	USD
CY2021Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	126190351	shares
CY2020Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	115189532	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	126405822	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	67828046	shares
CY2021Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.23
CY2020Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.62
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.94
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-1.56
CY2021Q3	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	29414000	USD
CY2020Q3	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	-71133000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	118242000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	-105918000	USD
CY2021Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	126190351	shares
CY2020Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	115189532	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	126405822	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	67828046	shares
CY2021Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	126247499	shares
CY2020Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	115189532	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	126451119	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	67828046	shares
CY2021Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.23
CY2021Q3	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	57148	shares
CY2020Q3	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	0	shares
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	45297	shares
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	0	shares
CY2020Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.62
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.94
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-1.56
	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	-0.050
CY2021Q3	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	295185	shares
CY2020Q3	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	8034226	shares
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	295185	shares
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	13312549	shares
CY2021Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	10400000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	38100000	USD
CY2020Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	4000000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	5400000	USD
CY2021Q3	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.261
	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.244
CY2020Q3	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	-0.060

Files In Submission

Name	View Source	Status
0001628280-21-023144-index-headers.html	Edgar Link	pending
0001628280-21-023144-index.html	Edgar Link	pending
0001628280-21-023144.txt	Edgar Link	pending
0001628280-21-023144-xbrl.zip	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
lpro-20210930.htm	Edgar Link	pending
lpro-20210930.xsd	Edgar Link	pending
lpro-20210930ex311.htm	Edgar Link	pending
lpro-20210930ex312.htm	Edgar Link	pending
lpro-20210930ex321.htm	Edgar Link	pending
lpro-20210930ex322.htm	Edgar Link	pending
lpro-20210930_cal.xml	Edgar Link	unprocessable
lpro-20210930_def.xml	Edgar Link	unprocessable
lpro-20210930_g1.jpg	Edgar Link	pending
lpro-20210930_htm.xml	Edgar Link	completed
lpro-20210930_lab.xml	Edgar Link	unprocessable
lpro-20210930_pre.xml	Edgar Link	unprocessable
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
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R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$LPRO
Open Lending Corp Stock $lpro

2021 Q4 Form 10-Q Financial Statement

#000162828021023144 Filed on November 12, 2021

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$LPRO Open Lending Corp Stock $lpro

2021 Q4 Form 10-Q Financial Statement

#000162828021023144 Filed on November 12, 2021

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$LPRO
Open Lending Corp Stock $lpro