Open Lending : Q4 2020 Earnings Supplement

Earnings Supplement Q4 2020

Financial Highlights

Q4 2020

FY 2020

Total Certs

26,822

94,226

Revenue

($mm)

$39.6 million

$108.9 million

Adj. EBITDA

($mm)

$24.8 million

$69.5 million

Adj. Operating Cash Flow1

($mm)

(1) Defined as Adj. EBITDA, minus CAPEX, plus or minus change in contract assets

$8.3 million

$41.9 million

Recent Accomplishments

Open Lending and Partners Strongly

Positioned

•  Credit union and bank lenders are well capitalized with ample liquidity

•  Insurers modestly impacted relative to other industries and profitable in 2020

•  Low interest rate environment, traditional lenders retrenching, and commuters shifting away from public modes of transportation are driving positive trends

OEM Opportunity



OEM #1



	Experienced certification growth of over 200% from April to December 2020 (560 -
619 credit score in all markets)
	Expanded credit score offering (619 - 679) in one pilot market with controlled roll
out to the other markets in the next few months
OEM #2

•  Ramping up since coming back online in October 2020



Building out pipeline with other OEMs for the future



New partnerships such as OE Federal Credit Union, Members 1 Federal Credit Union and Interra Credit

Union

Q4 Update



Partnered with 8 new refinance lenders in Q4



Added 16 new lender customers / contracts executed in Q4

st



14 active implementations with "golive" dates in the next 60 days

Growth Plan

• 1  Expand Core Business

• 2  OEM Opportunity

• 3  CECL Relief

• 4  Launch into New Channels

• 5  Broaden Our Offerings