On March 17, 2025, after markets closed, the Company disclosed a delay in filing its annual report on Form 10-K and postponed its fourth quarter and full-year 2024 earnings results and conference call.

Following this news, the price of Open Lending stock fell $3.48 per share, nearly 11%, to close at $3.48 on March 18, 2025.

On March 31, 2025, after markets closed, the Company reported that “adjustments attributable to the Company’s profit share revenue forecast resulted in a negative change in estimate of $81.3 million, primarily due to heightened delinquencies and corresponding defaults associated with loans originated in 2021 through 2024.” This $81.3 million reversal led to total revenue in the fourth quarter of negative $56.9 million compared to $14.9 million revenue in the prior year’s fourth quarter and a $144.4 million net loss for the fourth quarter - a substantial year-over-year increase compared to the net loss of $4.8 million in the fourth quarter of 2023. The Company also disclosed significant leadership changes, including a new CEO effective immediately.

Following this news, the price of Open Lending stock fell $1.59, over 57%, to close at $1.17 on April 1, 2025.

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CONTACT:
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KAPLAN FOX & KILSHEIMER LLP
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lking@kaplanfox.com

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COMTEX_464315930/2549/2025-04-07T13:06:36