Open Lending (LPRO) reported Monday a Q4 net loss of $1.21 per diluted share, widening from a loss of $0.04 a year earlier.

Analysts polled by FactSet expected earnings of $0.02 per diluted share.

Revenue for the quarter ended Dec. 31 was minus $56.9 million compared to $14.9 million a year earlier.

The negative revenue was due to a loss incurred in profit sharing, which is part of the reported revenue.

Analysts surveyed by FactSet expected $23.7 million.

For Q1 2025, the company expects total certified loans between 27,000 and 28,000.

The company also said that its board appointed Chair Jessica Buss as chief executive officer, effective immediately. It also named Michelle Glasl as chief operating officer and added that Charles Jehl would continue as interim chief financial officer and board member.