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Edge20 Feb 2026
Dollar General: The Rural Retailer Playbook
How Dollar General built a small-box empire across rural America, scaling value and convenience into one of retail's most durable business models.
OPENLANE
OPENLANE (OPLN) investor relations material
OPENLANE Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary18 Feb, 2026
Executive summary
Exceeded 2025 objectives for customer growth, transaction volumes, and financial performance, selling nearly 1.5 million vehicles and generating $1.9 billion in revenue.
Achieved strong Q4 and full-year 2025 results, with U.S. dealer-to-dealer business outpacing industry trends and offsetting Canadian macroeconomic headwinds.
Entered 2026 with positive momentum, well-positioned to capture additional market share as digital adoption and off-lease supply increase.
Investments in technology, people, and brand enhanced market differentiation and scalability.
Financial highlights
Q4 2025 revenue: $494.3M, up 9% YoY; Q4 Adjusted EBITDA: $76M, up 5% YoY; Q4 income from continuing operations: $60M, up 14% YoY.
Full-year 2025: $1.9B revenue (+8% YoY), $333M Adjusted EBITDA (+13% YoY), $392M operating cash flow (+34% YoY).
Q4 cash flow from operations: $125.5M–$126M; Q4 Free Cash Flow: $110.8M–$111.6M.
Marketplace Q4 GMV: $7.1B (+8% YoY); full-year GMV: $29B (+6% YoY); Auction and related revenues up 12% in Q4.
Q4 Adjusted EBITDA margin: 15.4%; Q4 operating margin: 8.6%.
Outlook and guidance
2026 Adjusted EBITDA guidance: $350M–$370M; net income: $130M–$147M; diluted EPS: $0.95–$1.09; Operating Adjusted EPS: $1.24–$1.38.
Marketplace segment expected to drive mid- to upper-teens growth; finance segment to remain flat.
Capital expenditures forecasted at $55M–$60M.
Guidance excludes potential impacts from future business development, litigation, tax, FX, and regulatory changes.
U.S. market is primary growth driver, with stable to modest growth in Canada and Europe.
How will off-lease volume inflection impact 2026?
What drove dealer-to-dealer market share gains?
What caused the $35.8M deferred tax asset release?
Off-lease equity impact on Commercial volumes
OPENLANE's U.S. D2D market share gains
AFC's 2026 headwinds and flat outlook
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Next OPENLANE earnings date
Q1 20266 May, 2026
OPENLANE
Next OPENLANE earnings date
Q1 20266 May, 2026
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Frequently asked questions
OPENLANE Inc, formerly KAR Auction Services, operates digital marketplaces for used vehicle remarketing. The company facilitates wholesale automotive auctions and provides related logistics, reconditioning, and title services for dealers, fleet operators, and financial institutions. The company is headquartered in Carmel, Indiana, and its shares are listed on the NYSE.
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