Open Lending (LPRO) Gross Margin (2019 - 2026)
Open Lending's (LPRO) quarterly Gross Margin came in at 76.31% in Q1 2026, up 125.0% year-over-year from 33.92% in Q1 2025, and little changed quarter-over-quarter from 75.99% in Q4 2025.
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Open Lending (LPRO) Gross Margin (2019 - 2026) Analysis & Trends
Open Lending has disclosed Gross Margin across 8 years of filings, most recently posting 76.31% for Q1 2026.
- In Q1 2026, Gross Margin rose 125.0% year-over-year to 76.31%; the TTM figure through Mar 2026 stood at 77.24% (up 11412.0% YoY), while the FY2025 annual figure was 76.88%, up 7617.0% from the prior year.
- Gross Margin came in at 76.31% for Q1 2026 at Open Lending, roughly flat from 75.99% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 111.01% in Q4 2024 to a low of 64.09% in Q4 2023.
- Average Gross Margin over 5 years is 81.99%, with a median of 79.35% recorded in 2023.
- Year-over-year, Gross Margin jumped 4692 bps in 2024 and sank 3501 bps in 2025.
- Over 5 years, Gross Margin stood at 81.75% in 2022, then decreased by 22 bps to 64.09% in 2023, then surged by 73 bps to 111.01% in 2024, then plunged by 32 bps to 75.99% in 2025, then grew by 0 bps to 76.31% in 2026.
- Per Business Quant data, the three most recent Gross Margin figures were 76.31% in Q1 2026, 75.99% in Q4 2025, and 78.0% in Q3 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Upstart Holdings | 2.43 Bn | 1.99 Bn | 303.39 Mn | 83.19% |
| 2 | Pagaya Technologies | 1.70 Bn | 1.51 Bn | 168.33 Mn | 43.49% |
| 3 | Qfin Holdings | 986.27 Mn | -9.51 Mn | - | - |
| 4 | FinVolution | 836.54 Mn | -90.46 Mn | - | - |
| 5 | X Financial | 386.17 Mn | -182.14 Mn | 84.09 Mn | 57.43% |
| 6 | Open Lending | 371.20 Mn | 186.25 Mn | 15.64 Mn | 76.31% |
| 7 | Blend Labs | 279.09 Mn | 234.22 Mn | 24.89 Mn | 73.54% |
| 8 | LexinFintech Holdings | 251.25 Mn | 251.25 Mn | 73.06 Mn | 15.55% |
| 9 | Jiayin | 76.25 Mn | 2.23 Mn | - | - |
| 10 | Antalpha Platform Holding | 76.02 Mn | -813.69 Mn | 11.94 Mn | 97.79% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Mar 31, 2026 | 76.31% |
| Dec 31, 2025 | 75.99% |
| Sep 30, 2025 | 78.00% |
| Jun 30, 2025 | 78.23% |
| Mar 31, 2025 | 75.06% |
| Dec 31, 2024 | 111.01% |
| Sep 30, 2024 | 73.90% |
| Jun 30, 2024 | 78.62% |
| Mar 31, 2024 | 81.30% |
| Dec 31, 2023 | 64.09% |
| Sep 30, 2023 | 79.35% |
| Jun 30, 2023 | 83.97% |
| Mar 31, 2023 | 85.84% |
| Dec 31, 2022 | 81.75% |
| Sep 30, 2022 | 89.74% |
| Jun 30, 2022 | 90.23% |
| Mar 31, 2022 | 90.44% |
| Dec 31, 2021 | 90.82% |
| Sep 30, 2021 | 89.17% |
| Jun 30, 2021 | 93.23% |