OPENLANE Q1 revenue up 15% to $528M; Marketplace margin jumps on Canadian tax reversal

Filed May 5, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 8, 2025 · ~2 min read

Key Changes

• high

  Marketplace gross profit surged 37% to $149M with margin expanding 440 basis points to 35.4%, driven by volume growth and a $17M one-time benefit from Canada's retroactive repeal of its 3% Digital Services Tax.

  MD&A: Marketplace Gross Profit verify on EDGAR →
• high

  Total vehicles sold rose 19% to 432,000 units with GMV up 32% to $9.1B; commercial volumes jumped 25% on new private-label customer onboarding, though auction yield compressed 20 basis points to 2.7% due to mix shift.

  MD&A: Marketplace Volumes verify on EDGAR →
• high

  Interest expense more than doubled to $10.1M from $4.0M, reflecting $550M of new term loans issued in Q4 2025 to fund preferred stock buyback; preferred dividends fell 52% to $5.3M as share count dropped.

  MD&A: Interest Expense & Preferred Dividends verify on EDGAR →