OPENLANE
Runs digital used-vehicle wholesale marketplaces with AFC dealer financing.
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Profile
Connects commercial vehicle sellers and dealers with franchised and independent buyers through digital wholesale marketplaces in the United States, Canada, and Europe, earning transaction and ancillary-service fees. AFC adds short-term floorplan lending, while the core marketplace generally transfers vehicles without taking ownership.
Runs digital wholesale used-vehicle marketplaces in the United States, Canada, and Europe. OPENLANE US, OPENLANE Canada, and OPENLANE Europe connect automakers, captive finance companies, fleets, rental companies, and dealers with franchised and independent dealer buyers. The Marketplace segment earns buyer and seller fees and sells inspection, transportation, title, reconditioning, and remarketing technology services; Canadian vehicle logistics centers support physical handling.
AFC forms the Finance segment, providing short-term, inventory-secured floorplan loans and related services primarily to independent dealers across North America. The integrated model combines commercial and dealer-to-dealer inventory, proprietary condition data, and financing, while generally avoiding vehicle ownership. Marketplace revenue depends on transaction volume and two-sided liquidity; AFC depends on securitization funding, borrower credit performance, and lending licenses and rate rules.
Company facts
Categories
Key statistics
Year to date +20.2% · Average volume (30d) 1.3M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 6, 2026 | Barclays | Reiterate | Overweight | $46 | $49 | |
| Aug 5, 2026 | Northcoast Research | Target | $40 | $50 | ||
| Jul 21, 2026 | Barclays | Reiterate | Overweight | $40 | $46 | |
| May 27, 2026 | JP Morgan | Upgrade | Neutral | Overweight | ||
| May 6, 2026 | Robert W. Baird | Target | $40 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $0.35 | $0.40 | +14.8% | $525.7M | $554.6M | +5.5% | −2.72% |
| May 5, 2026Q1 FY26 | $0.32 | $0.35 | +9.4% | $492.7M | $527.9M | +7.1% | +1.64% |
| Feb 18, 2026Q4 FY25 | $0.30 | $0.25 | −16.7% | $472.0M | $494.3M | +4.7% | +0.55% |
| Nov 5, 2025Q3 FY25 | $0.30 | $0.35 | +16.7% | $470.7M | $498.4M | +5.9% | −4.30% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $460.1M | $481.7M | $498.4M | $494.3M | $527.9M | $554.6M | |
| Gross profit | $195.8M | $204.3M | $205.5M | $195.5M | $233.3M | $222.5M | |
| Operating income | $81.3M | $83.7M | $85.5M | $71.9M | $100.3M | $67.5M | |
| Net income | $36.9M | $33.4M | $47.9M | $59.5M | $48.9M | $44.3M | |
| Diluted EPS | $0.18 | $0.15 | $0.25 | −$1.54 | $0.35 | $0.32 | |
| Gross margin | 42.6% | 42.4% | 41.2% | 39.6% | 44.2% | 40.1% | |
| Operating margin | 17.7% | 17.4% | 17.2% | 14.5% | 19.0% | 12.2% |
Fiscal years (4-quarter sums)FY21 $1.45B · FY22 $1.52B · FY23 $1.65B · FY24 $1.81B · FY25 $1.93B
Revenue by product · FY24
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $189.7M · Total debt $585.5M · Total assets $5.01B · Shareholders' equity $1.57B
Dividends
No dividends on record.
Ownership
Shares outstanding 105.95M · Float 88.32M · 83.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 15.96M | 14.90% | 13G | Apr 30, 2025 |
| Apax Guernsey (Holdco) PCC Limited Apax X Cell | 8.42M | 6.90% | 13D | Aug 13, 2026 |
| Ignition Acquisition Holdings LP · 10 percent owner | 8.42M | 7.95% | Form 4 | Aug 13, 2026 |
| Bank of Montreal | 7.49M | 7.04% | 13G | Feb 12, 2026 |
| Burgundy Asset Management Ltd. | 7.24M | 6.82% | 13G | Feb 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 24, 2026 | Peter J. Kelly | director, officer: Chief Executive Officer | +14,830 | $33.72 |
| Aug 13, 2026 | Ignition Acquisition Holdings LP | 10 percent owner | −8,000,000 | $34.36 |
| May 28, 2026 | Ignition Acquisition Holdings LP | 10 percent owner | −288,323 | $17.75 |
| Dec 2, 2025 | Charles S. Coleman | officer: EVP, CLO & Secretary | −88,062 | $26.00 |
| Oct 8, 2025 | Ignition Acquisition Holdings LP | 10 percent owner | −288,322 |
Peers
- Carvana
ADESA Clear competes in digital dealer wholesale and OEM/fleet remarketing
- ACV Auctions
Digital dealer-to-dealer wholesale marketplace expanding into commercial segments
- CarMax
Largest U.S. used-car retailer; 540K-unit annual dealer-only wholesale auctions
- Copart
Dominant online salvage auction platform; expanding into clean-title wholesale
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| OPENLANE | $35.09 | −0.03% | $3.72B | — | 22.2 | 1.8 | +15.1% |
| Carvana | $74.29 | +0.34% | $81.21B | 34.3 | 38.0 | 3.2 | +52.4% |
| ACV Auctions | $7.16 | +0.07% | $1.25B | — | 26.0 | 1.6 | +10.5% |
| CarMax | $62.57 | +0.74% | $8.81B | 38.6 | 22.3 | 0.3 | +6.2% |
| Copart | $33.00 | 0.00% | $30.54B | 20.5 | 20.3 | 6.6 | +2.1% |
| Median | 34.3 | 24.1 | 2.4 | +8.3% |