The beat-and-raise, accelerating US dealer growth (+31% vs industry), and early off-lease volume inflection support continued upward earnings revisions. Monitor the Q3 earnings call for updates on commercial customer onboarding and transportation margin trends, which are the primary near-term risk factors.
Price Chart
Executive Summary
OPENLANE reported Q2 2026 revenue of $554.6M (+15% YoY) and Operating Adjusted EPS of $0.40, beating the $0.35 consensus by 14.3%. The Marketplace segment drove strong volume growth (commercial vehicles +39%, US dealer vehicles +31%), and the company raised full-year Adjusted EBITDA guidance to $385-$400M. The beat-and-raise, combined with accelerating marketplace momentum and early off-lease volume inflection, signals sustained operational momentum and market share gains.
Key Financial Metrics
Key Facts
- Revenue of $554.6M (+15% YoY) beat consensus of $525.7M
- Operating Adjusted EPS of $0.40 beat consensus of $0.35 by 14.3%
- Adjusted EBITDA of $103.2M (+19% YoY) with margin expanding 60 bps to 18.6%
- Marketplace GMV grew 41% YoY to $10.5B, driven by 39% growth in commercial vehicles sold and 31% growth in US dealer vehicles sold
- Full-year 2026 Adjusted EBITDA guidance raised to $385-$400M (from $365-$385M), and Operating Adjusted EPS guidance raised to $1.40-$1.50 (from $1.28-$1.42)
- Net income of $44.3M (+33% YoY) and diluted EPS of $0.32 (+113% YoY)
- Cash flow from operations was $52.8M for the quarter; $212.4M YTD
Financial Impact
Revenue beat consensus by ~$29M (5.5%); EPS beat by $0.05 (14.3%); guidance raised by $20M at the midpoint for Adjusted EBITDA
Risk Factors
- Transportation margin compression from elevated fuel costs in North America
- Auction yield compression (down 40 bps to 2.5%) from commercial vehicle mix shift
- Interest expense increased 223% YoY to $10.0M due to new term loan borrowings
- Finance segment net margin declined 80 bps to 12.8% on lower fee yields
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001395942-26-000030 |
| Exhibit: exhibit991-q22026earningsr.htm | 0001395942-26-000030 |
| Document: q22026openlaneearningssl.htm | 0001395942-26-000030 |
| Document: opln-20260804.htm | 0001395942-26-000030 |
| Document: 0001395942-26-000030-index-headers.html | 0001395942-26-000030 |
| Document: 0001395942-26-000030-index.html | 0001395942-26-000030 |
| Document: 0001395942-26-000030.txt | 0001395942-26-000030 |
| 8-K Data (Synthetic) | 0001395942-26-000030 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | SC 13G/A | $37.83 | awaiting T+20 | — | $37.83 (+0.00%) |
Oct 8, 2026 19d ago | SC 13G/A | $35.68 | awaiting T+20 | — | $37.83 (+6.03%) |
Aug 13, 2026 10w ago | 8-K | $35.50 $35.48 | ▲ +0.06% | ▼ −1.94% | $37.83 (−6.56%) |
Aug 11, 2026 11w ago | Press Release | $35.33 $34.77 | ▲ +1.59% | ▼ −0.31% | $37.83 (−7.08%) |
Aug 11, 2026 11w ago | Press Release | $35.33 $34.77 | ▼ −1.59% | ▲ +0.31% | $37.83 (+7.08%) |
Aug 4, 2026 12w ago | 8-K | $40.05 $35.05 | ▼ −12.48% | ▼ −11.25% | $37.83 (−5.54%) |
Jul 8, 2026 15w ago | Press Release | $40.73 $37.62 | ▼ −7.64% | ▼ −9.88% | $37.83 (−7.12%) |
Jun 12, 2026 19w ago | 8-K | $37.83 $39.89 | ▲ +5.45% | ▲ +3.67% | $37.83 (+0.00%) |
May 5, 2026 25w ago | 8-K | $35.36 $38.24 | ▲ +8.14% | ▲ +3.19% | $37.83 (+6.99%) |
Apr 24, 2026 26w ago | DEFA14A | $31.86 $35.05 | ▲ +10.01% | ▲ +5.99% | $37.83 (+18.74%) |
US Market Status
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