Strong Revenue and Profitability Growth
OPENLANE reported an 8% increase in revenue and a 17% growth in adjusted EBITDA, reaching $87 million. The adjusted EBITDA margin expanded by 130 basis points to 17%.
Dealer-to-Dealer Volume Growth
Dealer-to-dealer volumes increased by 14% year-over-year, marking the fourth consecutive quarter of double-digit growth.
Marketplace Segment Performance
The Marketplace segment reported a 20% increase in auction fee revenue and a 22% increase in adjusted EBITDA. Gross merchandise value processed was $7.3 billion, representing a 9% increase.
Finance Segment Growth
The Finance segment grew loan transaction units and average managed receivables, with adjusted EBITDA increasing by 12% year-over-year.
Increase in 2025 Guidance
OPENLANE raised its full-year 2025 adjusted EBITDA guidance to $328 million to $333 million, up from the previous guidance of $310 million to $320 million.
Customer Base Expansion
OPENLANE expanded its customer base, enrolling thousands of new dealers and achieving record customer engagement with double-digit increases in unique buyer and seller activity.