OPEN LENDING A DL-,0001

Shareholders of Open Lending approved a reverse split in a ratio of 1-for-5 to 1-for-7, with the board to set the timing and the exact ratio. The board’s declassification was also approved and a transition to annual director elections was adopted. Against the backdrop of an operating loss in Q1/2026 and ongoing weakness in the near-prime auto loan business, the stock fell sharply and was trading in the afternoon at $2.06, down about 8%. » More on de.investing.com

Open Lending reported revenue of $20.5 million for the first quarter of 2026 (−16%) and a volume of certified loans of 21,064 units (−24%) after a targeted shift toward higher-quality loans. Adjusted EBITDA fell 37.5% to $2.0 million, and the company posted a net loss of $460,000. Open Lending is moving its business significantly toward credit unions and banks (90.2% of certified volume) and is reducing riskier segments such as CreditBuilder. For 2026, management expects 100,000–110,000 certified loans and adjusted EBITDA of $25–29 million; the stock initially reacted negatively but recovered in after-hours trading. » More on de.investing.com

Open Lending has agreed to cooperate with Palogic under which it will nominate William Dabbs Cavin as a Class‑III director at the 2026 annual meeting and recommend his election to shareholders. Open Lending also supports a non‑binding Palogic proposal to declassify the board so that directors would be elected annually going forward. In return, Palogic agrees to vote in accordance with the board’s recommendations, comply with certain standstill obligations (including limiting acquisitions to a maximum of 9.9% of the common stock) and not to nominate any additional candidates. At the same time, Charles D. Jehl announced he will not stand for re‑election at the 2026 annual meeting. The agreement comes against the backdrop of a steep decline in Open Lending’s share price and, according to InvestingPro, a low market capitalization. » More on de.investing.com