OPENLANE (OPLN) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 13% YoY to $561.2M and Adjusted EBITDA increased 23% to $106.8M; net income declined 7% to $44.7M.

• Marketplace GMV increased 38% to $10.0B; U.S. dealer volumes grew 22% and commercial volumes rose 46%.

Financial highlights

• Revenue was $561.2M versus $498.4M; Adjusted EBITDA was $106.8M versus $87.1M.

• Operating profit increased to $70.4M from $55.0M; net income was $44.7M versus $47.9M, and diluted EPS was $0.36 versus $0.25.

• Operating cash flow increased 34% to $97.1M; Q3 Adjusted Free Cash Flow was $124.2M versus $4.6M.

• Nine-month revenue rose 14% to $1,643.7M and Adjusted EBITDA increased to $306.7M from $256.6M.

Outlook and guidance

• FY2026 Adjusted EBITDA guidance was raised to $390M-$400M from $385M-$400M; Operating Adjusted EPS guidance rose to $1.45-$1.52 from $1.40-$1.50.

• FY2026 net income guidance is $169M-$177M and diluted EPS guidance is $1.27-$1.34; capital expenditures remain $55M-$60M.

• Off-lease vehicle volumes are expected to rise as healthy lease originations mature from 2026 onward.

• Q4 finance guidance assumes a seasonal portfolio decline and loan losses rising toward the low end of the 1.5%-2.0% target range.

• Incremental H2 go-to-market spending rose to low double-digit millions, mainly for sales, account management, brand awareness and operating capacity.