OPENLANE, Inc. reported a strong start to 2025, with first-quarter total operating revenues reaching $460.1 million for the period ended March 31, 2025, a 7% increase from $429.9 million in Q1 2024. Income from continuing operations more than doubled to $36.9 million, up from $18.5 million in the prior year, and diluted earnings per share from continuing operations were $0.18.
The marketplace business achieved record performance, with revenue growing 10% year-over-year to $351.2 million and operating profit increasing 150% to $12.0 million. Dealer consignment volumes rose by 15%, and auction fees increased by 14%. The company generated $123 million in cash flow from operating activities, a 22% increase from Q1 2024.
OPENLANE maintained its previously stated annual guidance for 2025, projecting Adjusted EBITDA between $290 million and $310 million. Additionally, the board of directors approved a new share repurchase authorization of up to $250 million of the company's outstanding common stock through December 31, 2026, replacing the prior program which had approximately $100 million remaining.
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