OPENLANE, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the U.S. Securities and Exchange Commission on November 4, 2026, reporting third-quarter total operating revenues of $561.2 million and the full conversion of its Series A convertible preferred stock.

Key Highlights

  • Total operating revenues of $561.2 million for the three months ended September 30, 2026, up from $498.4 million in the same period of 2025, according to the filing.
  • Net income of $44.7 million for Q3 2026, compared to $47.9 million in Q3 2025, as reported in the consolidated statements of income.
  • Nine-month net income of $137.9 million for the period ended September 30, 2026, versus $118.2 million for the same nine months of 2025.
  • Series A convertible preferred stock fully converted into approximately 16.9 million shares of common stock during the nine-month period, eliminating $289.8 million in temporary equity from the balance sheet.
  • Common shares outstanding of 121,414,234 as of October 31, 2026, with authorized shares of 400,000,000.
  • Repurchase and retirement of common stock totaling $92.2 million for the nine months ended September 30, 2026, including $44.0 million in Q3 2026 alone.
  • Total assets of $5,229.2 million as of September 30, 2026, compared to $4,724.3 million at December 31, 2025.

OPENLANE Q3 2026 Financial Results: Revenue Growth and Balance Sheet Changes

According to the filing, OPENLANE, Inc. (NYSE:OPLN) reported total operating revenues of $561.2 million for the three months ended September 30, 2026, an increase from $498.4 million in the prior-year quarter. Revenue components included auction and related fees of $253.2 million, SaaS and other revenue of $73.9 million, purchased vehicle sales of $119.4 million, and finance revenue of $114.7 million. Total operating expenses for the quarter were $490.8 million, resulting in operating profit of $70.4 million, compared to $55.0 million in Q3 2025.

The company disclosed net income of $44.7 million for Q3 2026, compared to $47.9 million in Q3 2025. The filing notes that interest expense increased to $10.0 million in Q3 2026 from $1.1 million in Q3 2025, and that a loss on extinguishment of debt of $0.7 million was recorded in the quarter. Income taxes for Q3 2026 were $15.4 million versus $8.2 million in the prior-year quarter. For the nine months ended September 30, 2026, total operating revenues reached $1,643.7 million, and net income was $137.9 million, compared to $1,440.2 million and $118.2 million, respectively, in the same period of 2025.

A significant balance sheet change disclosed in the filing was the conversion of all Series A convertible preferred stock into approximately 16.9 million shares of common stock during the nine-month period, with the carrying value of $289.8 million reclassified from temporary equity into stockholders' equity. As of September 30, 2026, total stockholders' equity stood at $1,576.8 million, up from $1,240.7 million at December 31, 2025. Cash and cash equivalents were $244.9 million at September 30, 2026, compared to $141.5 million at December 31, 2025. Finance receivables, net, grew to $2,763.8 million from $2,425.4 million, and obligations collateralized by finance receivables increased to $2,064.1 million from $1,758.3 million over the same period.

What Was Disclosed

OPENLANE filed its quarterly report for the period ended September 30, 2026, disclosing revenue growth, a year-over-year increase in nine-month net income, full conversion of Series A preferred stock, significant share repurchases, and growth in both total assets and finance receivables.