Latest news with #OpenLending
Yahoo
a day ago
- Automotive
- Yahoo
Algebrik AI and Open Lending Partner to Expand Intelligent Auto Loan Decisioning for Credit Unions
NEW YORK, Aug. 11, 2025 /PRNewswire/ -- Algebrik AI Inc., a Delaware-incorporated company headquartered in New York City and pioneering the world's first cloud-native, AI-powered, digital-era Loan Origination Platform (LOS), today announced an integration with Open Lending Corporation, an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions. This collaboration aims to strengthen auto loan decisioning capabilities within Algebrik's cloud-native, AI-powered LOS—part of the Algebrik One lending suite—enabling credit unions and community lenders to confidently extend credit to near- and non-prime borrowers while minimizing risk and streamlining workflows. Enabling Risk-Aware Auto Lending at Scale Open Lending's Lenders Protection™ platform empowers financial institutions to safely approve near- and non-prime auto loans by combining real-time risk modeling, pricing optimization, and insurance-backed loan protection. Through this partnership, Algebrik's Loan Origination System, part of Algebrik One, Algebrik's agentic AI-powered lending suite, now offers built-in access to the Lenders Protection™ platform, allowing credit unions to: Evaluate near- and non-prime applicants using Open Lending's advanced decisioning engine Receive real-time decisions (approved, counteroffer, or denied), including APR, terms, stipulations, and certificate numbers Automatically surface stipulations tied to counter-offers (e.g., vehicle details, income verification) within the lending workflow of Algebrik's Loan Origination System Leverage Open Lending's insured, risk-based decisioning directly within Algebrik's LOS- no external systems needed. Algebrik AI's LOS delivers this capability through a unified, AI-powered experience—supporting both loan officer and borrower-facing workflows. Lenders can seamlessly manage counteroffers, display dynamic payment terms, and track certificate numbers, all within a single, modern interface. Strategic Insight: Why This Partnership Matters Pankaj Jain, Founder and CEO of Algebrik AI, commented on the partnership: "We believe modern lending stacks must function as ecosystems—not toolkits. By partnering with Open Lending, we're deepening the intelligence of loan decisioning and giving lenders a seamless path to responsible loan growth. With Open Lending now embedded in Algebrik's LOS, lenders can reach underserved borrowers while maintaining the operational efficiency and compliance they demand." Josh Marcy, Chief Product Officer at Open Lending, added: "Algebrik brings a modern, purpose-built approach to lending infrastructure. The Algebrik integration leverages best practice automation capabilities and a dynamic user experience, offering fast and accurate automatic decisions that accelerate loan originations for our mutual customers. Their team has delivered a clean, intuitive experience that aligns with our vision for the future of inclusive, data-driven auto lending. " For more information on how Algebrik AI is transforming lending, visit For latest on cutting edge lending technology & AI, follow Algebrik AI on Linkedin at: Or chat with the Algebrik AI team at: letschat@ About Algebrik AI Algebrik AI, headquartered in New York City, is the company behind Algebrik One: the world's first cloud-native, AI-powered, digital-era Loan Origination Suite (LOS), designed for the next generation of members. In an industry that hasn't seen significant innovation in lending technology in over 25 years, it was high time someone stepped in to help credit unions of all sizes regain their former glory. Algebrik AI's mission is to empower credit unions to attract, engage, grow, and retain next-gen members while staying competitive in today's digital era. With Algebrik One, an end-to-end lending suite that includes Digital Account Opening, Lender's Cockpit (LOS), Omni-channel Point of Sale (PoS), AI Decision Engine, and Portfolio Analytics, we take on the heavy lifting; so credit unions can focus on helping the members and communities they serve. For more information, visit About Open Lending Open Lending provides loan analytics, risk-based pricing, risk modeling, and default insurance to auto lenders throughout the United States. For over 20 years we have been empowering financial institutions to create profitable auto loan portfolios with less risk and more reward. For more information, please visit Media Contacts: Prateek Samantaray Chief Marketing Officer letschat@ View original content to download multimedia: SOURCE Algebrik
Yahoo
4 days ago
- Business
- Yahoo
Open Lending Second Quarter 2025 Earnings: Beats Expectations
Open Lending (NASDAQ:LPRO) Second Quarter 2025 Results Key Financial Results Revenue: US$25.3m (down 5.3% from 2Q 2024). Net income: US$1.03m (down 64% from 2Q 2024). Profit margin: 4.1% (down from 11% in 2Q 2024). The decrease in margin was primarily driven by lower revenue. EPS: US$0.009 (down from US$0.024 in 2Q 2024). We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. All figures shown in the chart above are for the trailing 12 month (TTM) period Open Lending Revenues and Earnings Beat Expectations Revenue exceeded analyst estimates by 7.1%. Earnings per share (EPS) also surpassed analyst estimates by 17%. Looking ahead, revenue is forecast to grow 50% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Capital Markets industry in the US. Performance of the American Capital Markets industry. The company's shares are up 3.2% from a week ago. Balance Sheet Analysis Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on Open Lending's balance sheet. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
01-07-2025
- Business
- Associated Press
LPRO DEADLINE FINAL REMINDER: Bronstein, Gewirtz & Grossman LLC Announces That Open Lending Corporation Investors With Substantial Losses Have Opportunity to Lead Class Action Lawsuit
NEW YORK - June 30, 2025 ( NEWMEDIAWIRE ) - Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Open Lending Corporation ('Open Lending' or 'the Company') (NASDAQ: LPRO) and certain of its officers. Class Definition This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Open Lending securities between February 24, 2022 and March 31, 2025, both dates inclusive (the 'Class Period'). Such investors are encouraged to join this case by visiting the firm's site: Case Details The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Complaint alleges that Defendants: (1) misrepresented the capabilities of the Company's risk-based pricing models; (2) issued materially misleading statements regarding the Company's profit share revenue; (3) failed to disclose the Company's 2021 and 2022 vintage loans had become worth significantly less than their corresponding outstanding loan balances; (4) misrepresented the underperformance of the Company's 2023 and 2024 vintage loans; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. What's Next? A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Open Lending you have until June 30, 2025, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. There is No Cost to You We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful. Why Bronstein, Gewirtz & Grossman Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. Follow us for updates on LinkedIn, X, Facebook, or Instagram. Attorney advertising. Prior results do not guarantee similar outcomes. Contact Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Nathan Miller 332-239-2660 | [email protected]
Business Wire
30-06-2025
- Business
- Business Wire
FINAL DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Open Lending
NEW YORK--(BUSINESS WIRE)-- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Open Lending Corporation ('Open Lending' or the 'Company') (NASDAQ: LPRO) and reminds investors of the June 30, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements Share Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants: (1) misrepresented the capabilities of the Company's risk-based pricing models; (2) issued materially misleading statements regarding the Company's profit share revenue; (3) failed to disclose the Company's 2021 and 2022 vintage loans had become worth significantly less than their corresponding outstanding loan balances; and (4) misrepresented the underperformance of the Company's 2023 and 2024 vintage loans. As a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. On March 17, 2025, Open Lending announced the postponement of its earnings release and conference call, both originally scheduled for the same day. The company also filed a Form 12b-25, requesting additional time to finalize its financial statements for its annual 10-K report. On this news, Open Lending's stock price fell $0.40, or 9.3%, to close at $3.91 per share on March 17, 2025, thereby injuring investors. Subsequently, on March 31, 2025, Open Lending reported a substantial year-over-year increase in its net loss for Q4 2024, largely attributable to the recognition of a valuation allowance on its deferred tax assets, which elevated its income tax expense for the period. Additionally, the company disclosed significant leadership changes. On this news, Open Lending's stock price fell $1.59, or 57.61%, to close at $1.17 per share on April 1, 2025, thereby injuring investors. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Open Lending's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the Open Lending Corporation class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
Associated Press
30-06-2025
- Business
- Associated Press
DEADLINE ALERT for LPRO and CIVI: The Law Offices of Frank R. Cruz Reminds Investors of Class Actions on Behalf of Shareholders
LOS ANGELES, June 30, 2025 (GLOBE NEWSWIRE) -- The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion. Investors suffering losses on their investments are encouraged to contact The Law Offices of Frank R. Cruz to discuss their legal rights in these class actions at 310-914-5007 or by email to [email protected]. Open Lending Corporation (NASDAQ: LPRO ) Class Period: February 24, 2022 – March 31, 2025 Lead Plaintiff Deadline: June 30, 2025 The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants: (1) misrepresented the capabilities of the Company's risk-based pricing models; (2) issued materially misleading statements regarding the Company's profit share revenue; (3) failed to disclose the Company's 2021 and 2022 vintage loans had become worth significantly less than their corresponding outstanding loan balances; (4) misrepresented the underperformance of the Company's 2023 and 2024 vintage loans; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. If you are an Open Lending shareholder who suffered a loss, click here to participate. Civitas Resources, Inc. (NYSE: CIVI ) Class Period: February 27, 2024 – February 24, 2025 Lead Plaintiff Deadline: July 1, 2025 The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Civitas was highly likely to significantly reduce its oil production in 2025 as a result of, inter alia, declines following the production peak at the DJ Basin in the fourth quarter of 2024 and a low TIL count at the end of 2024; (2) increasing its oil production would require the Company to acquire additional acreage and development locations, thereby incurring significant debt and causing the Company to sell corporate assets to offset its acquisition costs; (3) the Company's financial condition would require it to implement disruptive cost reduction measures including a significant workforce reduction; (4) accordingly, Civitas's business and/or financial prospects, as well as its operational capabilities, were overstated; and (5) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. If you are a Civitas shareholder who suffered a loss, click here to participate. Follow us for updates on Twitter: To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [email protected], or visit our website at If you inquire by email please include your mailing address, telephone number, and number of shares purchased. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Contacts The Law Offices of Frank R. Cruz, Los Angeles Frank R. Cruz, 310-914-5007 [email protected]
