Company GrowthOPENLANE made significant progress with investments in innovation and technology, contributing to a 3% unit volume growth and a 6% increase in Marketplace net revenues.
Financial PerformanceQ4/23 financial results included a revenue increase of 5% to $391 million with adjusted EBITDA of $61.8 million, exceeding both analyst estimates and consensus expectations.
Market EnvironmentThe digital wholesale auction industry is returning to a more normalized environment with increased OEM production and inventory levels, alongside growth in lease originations.