OPENLANE (OPLN) investor relations material

Executive summary

• Revenue grew 15% year-over-year to $528 million in Q1 2026, driven by strong Marketplace segment growth and higher vehicle volumes.

• Adjusted EBITDA increased 17% to $97 million, with a margin of 18.3%, supported by operational improvements and a one-time benefit from the Canadian DST repeal.

• Net income rose 33% year-over-year to $49 million, with net income attributable to common stockholders at $37.6 million.

• Marketplace vehicles sold grew 19% year-over-year, with commercial vehicles up 25% and dealer-to-dealer transactions in the U.S. growing in the upper 20% range.

• Cash flow from operations increased 30% year-over-year to $160 million.

Financial highlights

• Total revenues reached $528 million, up 15% year-over-year, with Marketplace segment as the primary growth driver.

• Adjusted EBITDA was $97 million, up 17% year-over-year; margin was 18.3% (up 30 bps).

• Net income attributable to common stockholders was $37.6 million, up from $19.4 million year-over-year.

• Adjusted Free Cash Flow for Q1 2026 was $56.1 million; trailing 12 months was $259 million, with a 75% conversion rate.

• Auction and related revenues grew 22% to $242 million, with U.S. dealer auction fees up 38%.

Outlook and guidance

• Raised full-year 2026 adjusted EBITDA guidance to $365 million–$385 million, up from $350 million–$370 million.

• Net income guidance increased to $147 million–$164 million, and Operating Adjusted EPS guidance to $1.28–$1.42.

• Capital expenditures for 2026 projected at $55–$60 million, focused on technology and service locations.

• Expect continued growth in off-lease volumes and positive momentum in both dealer and commercial marketplace segments.

• Guidance excludes potential impacts from future business development, litigation, tax, FX, and regulatory changes.