Filing Flows › Openlane (OPLN) › Q4 2025
Openlane (OPLN) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 18, 2026
Openlane (OPLN) reported revenue of $494M for the fourth quarter 2025 (Q4 2025), +9% from a year earlier and -0.8% from the quarter before. Operating margin was 8.6%, net earnings $59.5M (12.0% of revenue).
Openlane, Q4 2025: revenue $494M (+9% year over year), operating margin 8.6%, net earnings $59.5M, operating cash flow $126M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $494M | -0.8% | +9% |
| Operating profit | $42.5M | -23% | -46% |
| Net earnings | $59.5M | +24% | +14% |
| Operating cash flow | $126M | +74% | +284% |
| Free cash flow | $111M | — | +493% |
What changed
Revenue was $494.3M in Q4 2025, up 9% year over year and down 1% from the previous quarter. Auction and related fees was the largest line at 42% of revenue. Auction and related fees added $21.5M year over year (up 12%), 55% of the total change. SaaS and other revenue declined 10%.
Operating profit was $42.5M, a 8.6% margin (down 8.8 points year over year). Operating profit fell $36.5M even though revenue rose $39.3M versus a year earlier, so costs grew faster than sales. Total costs grew 20% against revenue growth of 9%. The fastest-growing cost line was Other operating costs (+100%). Net earnings were $59.5M, up 14% year over year. The effective tax rate was -87.7%.
Operating cash flow was $125.5M (up 284% year over year), 211% of net earnings. Non-cash charges added back $23.3M of depreciation and amortization and $4.7M of share-based compensation. Working capital and other items added $38.0M. After purchases of property, equipment and computer software ($14.7M), free cash flow as the company reports it was $110.8M.
Questions
What was Openlane's revenue in the fourth quarter 2025?
Openlane (OPLN) reported revenue of $494M for the fourth quarter 2025 (Q4 2025), +9% from a year earlier and -0.8% from the quarter before.
Was Openlane profitable in the fourth quarter 2025?
Operating profit was $42.5M (8.6% of revenue) and net earnings $59.5M.
Source: Openlane 10-K on SEC EDGAR.