OPLN · OPENLANE, Inc.

OPENLANE delivered strong Q1 2026 results, with total revenue reaching $527.9 million, a 15% increase year-over-year, primarily fueled by 22% growth in auction and related fees to $241.8 million. The Marketplace segment drove performance, posting $421.5 million in revenue (up 20% YoY) on 432,000 vehicles sold (19% YoY growth), including 25% growth in commercial vehicles and 13% in dealer consignment vehicles, lifting GMV to $9.1 billion (32% YoY). Gross profit in Marketplace expanded 37% to $149.3 million, benefiting from higher volumes, pricing improvements, and a $17.3 million gain from the rescission of Canada's Digital Services Tax, which included a $15.9 million expense reversal. Finance revenue was stable at $106.4 million. Operating profit rose to $73.8 million from $51.7 million, with net income climbing 33% to $48.9 million and Adjusted EBITDA up 17% to $96.7 million. CEO Peter Kelly highlighted Marketplace momentum, with US dealer-to-dealer volume growth in the upper 20% range and commercial strength, attributing results to unique inventory, technology, and customer experience capturing market share. CFO Brad Herring noted scalability, balanced finance growth, and early off-lease volume returns. Cash generation was robust, with operating cash flow at $159.6 million (30% YoY growth). The company raised full-year 2026 guidance, lifting Adjusted EBITDA to $365-385 million (prior $350-370 million) and Operating Adjusted EPS to $1.28-1.42, signaling confidence amid macroeconomic uncertainties.