{"url_path":"/sec/lpro/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-08","source_url":"https://www.sec.gov/Archives/edgar/data/1806201/0001806201-26-000038-index.html","accession_number":"0001806201-26-000038","cik":"0001806201","ticker":"LPRO","issuer_name":"Open Lending Corp","edgar_url":"https://www.sec.gov/Archives/edgar/data/1806201/0001806201-26-000038-index.html","primary_entity_key":"0001806201","primary_entity_name":"Open Lending Corp"},"word_count":555,"has_tables":true,"body_markdown":"lpro-20260331\nfalse2026Q1000180620112-31Commitments and Contingenciesxbrli:sharesiso4217:USDiso4217:USDxbrli:sharesxbrli:purelpro:segment00018062012026-01-012026-03-3100018062012026-05-0500018062012026-03-3100018062012025-12-310001806201lpro:ProgramFeeMember2026-01-012026-03-310001806201lpro:ProgramFeeMember2025-01-012025-03-310001806201lpro:ProfitShareMember2026-01-012026-03-310001806201lpro:ProfitShareMember2025-01-012025-03-310001806201lpro:ClaimsAdministrationAndOtherServiceFeesMember2026-01-012026-03-310001806201lpro:ClaimsAdministrationAndOtherServiceFeesMember2025-01-012025-03-3100018062012025-01-012025-03-310001806201us-gaap:CommonStockMember2025-12-310001806201us-gaap:AdditionalPaidInCapitalMember2025-12-310001806201us-gaap:RetainedEarningsMember2025-12-310001806201us-gaap:TreasuryStockCommonMember2025-12-310001806201us-gaap:AdditionalPaidInCapitalMember2026-01-012026-03-310001806201us-gaap:TreasuryStockCommonMember2026-01-012026-03-310001806201us-gaap:RetainedEarningsMember2026-01-012026-03-310001806201us-gaap:CommonStockMember2026-03-310001806201us-gaap:AdditionalPaidInCapitalMember2026-03-310001806201us-gaap:RetainedEarningsMember2026-03-310001806201us-gaap:TreasuryStockCommonMember2026-03-310001806201us-gaap:CommonStockMember2024-12-310001806201us-gaap:AdditionalPaidInCapitalMember2024-12-310001806201us-gaap:RetainedEarningsMember2024-12-310001806201us-gaap:TreasuryStockCommonMember2024-12-3100018062012024-12-310001806201us-gaap:AdditionalPaidInCapitalMember2025-01-012025-03-310001806201us-gaap:TreasuryStockCommonMember2025-01-012025-03-310001806201us-gaap:RetainedEarningsMember2025-01-012025-03-310001806201us-gaap:CommonStockMember2025-03-310001806201us-gaap:AdditionalPaidInCapitalMember2025-03-310001806201us-gaap:RetainedEarningsMember2025-03-310001806201us-gaap:TreasuryStockCommonMember2025-03-3100018062012025-03-310001806201lpro:NewCertifiedLoanOriginationsMember2026-01-012026-03-310001806201lpro:NewCertifiedLoanOriginationsMember2025-01-012025-03-310001806201lpro:ChangeInEstimatedRevenueMember2026-01-012026-03-310001806201lpro:ChangeInEstimatedRevenueMember2025-01-012025-03-310001806201us-gaap:SubsequentEventMember2026-04-300001806201lpro:ProfitShareMember2025-12-310001806201lpro:ProgramFeeMember2025-12-310001806201lpro:ClaimsAdministrationAndOtherServiceFeesMember2025-12-310001806201lpro:ProfitShareMember2026-03-310001806201lpro:ProgramFeeMember2026-03-310001806201lpro:ClaimsAdministrationAndOtherServiceFeesMember2026-03-310001806201lpro:TermLoanDue2027Memberus-gaap:SecuredDebtMember2026-03-310001806201lpro:TermLoanDue2027Memberus-gaap:SecuredDebtMember2025-12-310001806201us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2026-03-310001806201us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2025-12-3100018062012022-09-090001806201lpro:TermLoanDue2027Memberus-gaap:SecuredDebtMember2022-09-090001806201us-gaap:RevolvingCreditFacilityMember2022-09-090001806201us-gaap:SecuredOvernightFinancingRateSofrMember2022-09-092022-09-090001806201us-gaap:BaseRateMembersrt:MinimumMember2022-09-092022-09-090001806201us-gaap:BaseRateMembersrt:MaximumMember2022-09-092022-09-090001806201us-gaap:SecuredOvernightFinancingRateSofrMembersrt:MinimumMember2022-09-092022-09-090001806201us-gaap:SecuredOvernightFinancingRateSofrMembersrt:MaximumMember2022-09-092022-09-090001806201srt:MinimumMember2022-09-092022-09-090001806201srt:MaximumMember2022-09-092022-09-090001806201lpro:TermLoanDue2027Memberus-gaap:SecuredDebtMember2026-01-012026-03-310001806201us-gaap:RevolvingCreditFacilityMember2026-01-012026-03-310001806201us-gaap:EmployeeStockOptionMember2026-01-012026-03-310001806201us-gaap:EmployeeStockOptionMember2025-01-012025-03-310001806201lpro:TimeBasedRestrictedStockUnitsMember2026-01-012026-03-310001806201lpro:TimeBasedRestrictedStockUnitsMember2025-01-012025-03-310001806201lpro:PerformanceBasedRestrictedStockUnitsMember2026-01-012026-03-310001806201lpro:PerformanceBasedRestrictedStockUnitsMember2025-01-012025-03-310001806201us-gaap:MoneyMarketFundsMember2026-03-310001806201us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel1Member2026-03-310001806201us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel2Member2026-03-310001806201us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel3Member2026-03-310001806201us-gaap:FairValueInputsLevel1Member2026-03-310001806201us-gaap:FairValueInputsLevel2Member2026-03-310001806201us-gaap:FairValueInputsLevel3Member2026-03-310001806201us-gaap:MoneyMarketFundsMember2025-12-310001806201us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel1Member2025-12-310001806201us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel2Member2025-12-310001806201us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel3Member2025-12-310001806201us-gaap:FairValueInputsLevel1Member2025-12-310001806201us-gaap:FairValueInputsLevel2Member2025-12-310001806201us-gaap:FairValueInputsLevel3Member2025-12-310001806201lpro:ProgramFeeMemberlpro:ReportableSegmentMember2026-01-012026-03-310001806201lpro:ProgramFeeMemberlpro:ReportableSegmentMember2025-01-012025-03-310001806201lpro:ProfitShareMemberlpro:ReportableSegmentMember2026-01-012026-03-310001806201lpro:ProfitShareMemberlpro:ReportableSegmentMember2025-01-012025-03-310001806201lpro:ClaimsAdministrationAndOtherServiceFeesMemberlpro:ReportableSegmentMember2026-01-012026-03-310001806201lpro:ClaimsAdministrationAndOtherServiceFeesMemberlpro:ReportableSegmentMember2025-01-012025-03-310001806201lpro:ReportableSegmentMember2026-01-012026-03-310001806201lpro:ReportableSegmentMember2025-01-012025-03-31\n\nUNITED STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWASHINGTON, DC 20549\n\nFORM 10-Q\n\n(Mark One)\n\n☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended March 31, 2026\n\nOR\n\n☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from ______________ to ______________\n\nCommission File Number: 001-39326\n\nOPEN LENDING CORPORATION\n\n(Exact Name of Registrant as Specified in its Charter)\n\nDelaware\n84-5031428\n\n(State or other jurisdiction of\nincorporation or organization)(I.R.S. Employer\nIdentification No.)\n\n1501 S. MoPac Expressway\n\nSuite 450\n\nAustin, Texas\n78746\n\n(Address of principal executive offices)(Zip Code)\n\nRegistrant’s telephone number, including area code: (512) 892-0400\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\nTitle of each classTrading\nSymbol(s)Name of each exchange\non which registered\n\nCommon stock, par value $0.01 per shareLPROThe Nasdaq Stock Market LLC\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ☒    No  ☐\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  ☒    No  ☐\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\nLarge accelerated filer☐Accelerated filer☐\n\nNon-accelerated filer☒Smaller reporting company☒\n\nEmerging growth company☐\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐ \n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ☐    No  ☒\n\nAs of May 5, 2026, the registrant had 118,217,082 shares of common stock, $0.01 par value per share, outstanding.\n\nOPEN LENDING CORPORATION\n\nFORM 10-Q\n\nTABLE OF CONTENTS\n\nPage\n\n[PART I.](#i82d27a24d0294b6594f0fb5f4988a9c0_10)\n\n[Financial Information](#i82d27a24d0294b6594f0fb5f4988a9c0_10)\n\n[2](#i82d27a24d0294b6594f0fb5f4988a9c0_13)\n\n[Item 1.](#i82d27a24d0294b6594f0fb5f4988a9c0_13)\n\n[Condensed Consolidated Financial Statements (Unaudited)](#i82d27a24d0294b6594f0fb5f4988a9c0_13)\n\n[2](#i82d27a24d0294b6594f0fb5f4988a9c0_13)\n\n[Condensed Consolidated Balance Sheets](#i82d27a24d0294b6594f0fb5f4988a9c0_16)\n\n[3](#i82d27a24d0294b6594f0fb5f4988a9c0_16)\n\n[Condensed Consolidated Statements of Operations](#i82d27a24d0294b6594f0fb5f4988a9c0_19)\n\n[4](#i82d27a24d0294b6594f0fb5f4988a9c0_19)\n\n[Condensed Consolidated Statements of Changes in Stockholders’ Equity](#i82d27a24d0294b6594f0fb5f4988a9c0_25)\n\n[5](#i82d27a24d0294b6594f0fb5f4988a9c0_25)\n\n[Condensed Consolidated Statements of Cash Flows](#i82d27a24d0294b6594f0fb5f4988a9c0_28)\n\n[6](#i82d27a24d0294b6594f0fb5f4988a9c0_28)\n\n[Notes to Condensed Consolidated Financial Statements (Unaudited)](#i82d27a24d0294b6594f0fb5f4988a9c0_31)\n\n[7](#i82d27a24d0294b6594f0fb5f4988a9c0_31)\n\n[Item 2.](#i82d27a24d0294b6594f0fb5f4988a9c0_88)\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#i82d27a24d0294b6594f0fb5f4988a9c0_88)\n\n[16](#i82d27a24d0294b6594f0fb5f4988a9c0_88)\n\n[Item 3.](#i82d27a24d0294b6594f0fb5f4988a9c0_145)\n\n[Quantitative and Qualitative Disclosures about Market Risk](#i82d27a24d0294b6594f0fb5f4988a9c0_145)\n\n[27](#i82d27a24d0294b6594f0fb5f4988a9c0_145)\n\n[Item 4.](#i82d27a24d0294b6594f0fb5f4988a9c0_148)\n\n[Controls and Procedures](#i82d27a24d0294b6594f0fb5f4988a9c0_148)\n\n[28](#i82d27a24d0294b6594f0fb5f4988a9c0_148)\n\n[PART II.](#i82d27a24d0294b6594f0fb5f4988a9c0_151)\n\n[Other Information](#i82d27a24d0294b6594f0fb5f4988a9c0_151)\n\n[29](#i82d27a24d0294b6594f0fb5f4988a9c0_151)\n\n[Item 1.](#i82d27a24d0294b6594f0fb5f4988a9c0_154)\n\n[Legal Proceedings](#i82d27a24d0294b6594f0fb5f4988a9c0_154)\n\n[29](#i82d27a24d0294b6594f0fb5f4988a9c0_154)\n\n[Item 1A.](#i82d27a24d0294b6594f0fb5f4988a9c0_157)\n\n[Risk Factors](#i82d27a24d0294b6594f0fb5f4988a9c0_157)\n\n[29](#i82d27a24d0294b6594f0fb5f4988a9c0_157)\n\n[Item 2.](#i82d27a24d0294b6594f0fb5f4988a9c0_160)\n\n[Unregistered Sales of Equity Securities and Use of Proceeds](#i82d27a24d0294b6594f0fb5f4988a9c0_160)\n\n[29](#i82d27a24d0294b6594f0fb5f4988a9c0_160)\n\n[Item 3.](#i82d27a24d0294b6594f0fb5f4988a9c0_163)\n\n[Defaults Upon Senior Securities](#i82d27a24d0294b6594f0fb5f4988a9c0_163)\n\n[29](#i82d27a24d0294b6594f0fb5f4988a9c0_163)\n\n[Item 4.](#i82d27a24d0294b6594f0fb5f4988a9c0_166)\n\n[Mine Safety Disclosures](#i82d27a24d0294b6594f0fb5f4988a9c0_166)\n\n[29](#i82d27a24d0294b6594f0fb5f4988a9c0_166)\n\n[Item 5.](#i82d27a24d0294b6594f0fb5f4988a9c0_169)\n\n[Other Information](#i82d27a24d0294b6594f0fb5f4988a9c0_169)\n\n[29](#i82d27a24d0294b6594f0fb5f4988a9c0_169)\n\n[Item 6.](#i82d27a24d0294b6594f0fb5f4988a9c0_172)\n\n[Exhibits](#i82d27a24d0294b6594f0fb5f4988a9c0_172)\n\n[30](#i82d27a24d0294b6594f0fb5f4988a9c0_172)\n\n[SIGNATURES](#i82d27a24d0294b6594f0fb5f4988a9c0_175)\n\n[31](#i82d27a24d0294b6594f0fb5f4988a9c0_175)\n\n[Table of Contents](#i82d27a24d0294b6594f0fb5f4988a9c0_7)\n\nPART I.    FINANCIAL INFORMATION"}