Open Lending Corporation (NASDAQ:LPRO) Q3 2024 Earnings Conference Call November 7, 2024 5:00 PM ET

Company Participants

Marissa Vidaurri - VP, IR & Corporate Communications
Chuck Jehl - CFO & Interim CEO

Conference Call Participants

Joseph Vafi - Canaccord
Peter Heckmann - D.A. Davidson

Operator

Good afternoon, and welcome to the Open Lending Third Quarter 2024 Earnings Conference Call. As a reminder, today's conference call is being recorded. On the call today are Chuck Jehl, Chief Executive Officer and Interim Chief Financial Officer; and Marissa Vidaurri, Vice President of Investor Relations and Corporate Communications. To get us started, I will pass the call over to Marissa Vidaurri. Please go ahead.

Marissa Vidaurri

Thank you. Appreciate you joining us. Prior to the start of this call, the company posted the third quarter 2024 earnings release and supplemental slides to its Investor Relations website. In this release, you will find reconciliations of non-GAAP financial measures to the most comparable GAAP financial measures discussed on this call.

Before we begin, I would like to remind you that this call may contain estimates and other forward-looking statements that represent the company's view as of today, November 7, 2024. Open Lending disclaims any obligation to update these statements to reflect future events or circumstances.

Please refer to today's earnings release and our filings with the SEC for more information concerning factors that could cause actual results to differ from those expressed or implied with such statements. And now I will pass the call over to Chuck to give an update on our business and financial results in the third quarter.

Chuck Jehl

Thank you, Marissa. I would like to officially welcome you to the Open Lending team, and good afternoon, everyone, and thank you for joining us today. Before we get into our update on the business, I would like to say how grateful I am for the Board's trust and confidence in me as the next CEO of Open Lending.

I'm extremely honored to carry on the legacy built by our founders, proud to lead our talented team of professionals and to continue to work with our lenders, insurance carriers and other partners to serve the near and nonprime consumers who need us and our lender customers now more than ever.

As we and the industry continue to navigate through challenging market conditions, we are focused on taking prudent steps to maximize the opportunity ahead. Specifically, we are focused on driving new customer acquisitions and certified loan growth from both new and existing customers, optimizing results from our lenders, our insurance carrier partners and ultimately Open Lending, and making targeted investments to improve the experience of our lender customers and their borrowers and bring more value to the Open Lending market.