OPENLANE Files 8-K on Financial Results and Operations

Ticker: OPLN · Form: 8-K · Filed: Feb 20, 2024 · CIK: 1395942

Sentiment: neutral

Topics: earnings, financial-condition, 8-K

TL;DR

**OPENLANE just dropped an 8-K with earnings materials, so expect financial updates!**

AI Summary

OPENLANE, Inc. filed an 8-K on February 20, 2024, to report on its results of operations and financial condition. The filing indicates that the company, formerly known as KAR Auction Services, Inc., is providing earnings materials. This report is a current report pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934.

Why It Matters

This filing provides investors with current information on OPENLANE's financial performance, which can influence stock prices and investment decisions.

Risk Assessment

Risk Level: low — This 8-K is a routine filing for reporting financial results and does not indicate any immediate adverse events.

Key Players & Entities

FAQ

What is the purpose of this 8-K filing by OPENLANE, Inc.?

The 8-K filing by OPENLANE, Inc. is to report on its results of operations and financial condition, and it includes earnings materials, as indicated by the 'ITEM INFORMATION: Results of Operations and Financial Condition' and 'FORM 8-K - EARNINGS MATERIALS' sections.

When was the earliest event reported in this 8-K filing?

The earliest event reported in this 8-K filing was on February 20, 2024, as stated in the 'Date of Report (Date of earliest event reported): February 20, 2024' section.

What was the former name of OPENLANE, Inc.?

OPENLANE, Inc. was formerly known as KAR Auction Services, Inc., as detailed in the 'FORMER COMPANY: FORMER CONFORMED NAME: KAR Auction Services, Inc.' section.

Where are OPENLANE, Inc.'s principal executive offices located?

OPENLANE, Inc.'s principal executive offices are located at 11299 N. Illinois Street, Carmel, Indiana 46032, according to the 'BUSINESS ADDRESS' section.

Under which section of The Securities Exchange Act of 1934 is this report filed?

This report is filed pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934, as indicated in the 'CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934' section.

Filing Stats: 657 words · 3 min read · ~2 pages · Grade level 9.7 · Accepted 2024-02-20 16:16:01

Key Financial Figures

Filing Documents

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On February 20, 2024, OPENLANE, Inc. ("OPENLANE" or the "Company") issued a press release announcing its financial results for the three months and year ended December 31, 2023. OPENLANE will host an earnings conference call and webcast, Tuesday, February 20, 2024 at 5:00 p.m., Eastern Time. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENLANE call, and the live webcast may be accessed at the investor relations section of corporate.openlane.com. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. The call will feature a review of operating highlights and financial results for the three months and year ended December 31, 2023. The press release dated February 20, 2024 is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference in its entirety. On February 20, 2024, OPENLANE also posted supplemental financial information for the three months and year ended December 31, 2023, and Earnings Slides for the three months and year ended December 31, 2023. The supplemental financial information and Earnings Slides can be located at the investor relations section of corporate.openlane.com. The supplemental financial information and Earnings Slides posted on February 20, 2024 are attached to this Current Report on Form 8-K as Exhibits 99.2 and 99.3, respectively, and are incorporated herein by reference in their entirety.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits EXHIBIT NO. DESCRIPTION OF EXHIBIT 99.1 Press release dated February 2 0 , 202 4 – "OPENLANE, Inc. Reports 2023 Financial Results" 99.2 OPENLANE, Inc. Q 4 and YTD 2023 Supplemental Financial Information – February 2 0 , 2024 99.3 OPENLANE, Inc. Q4 2023 and Annual Earnings Slides – February 2 0 , 2024 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. Dated: February 20, 2024 OPENLANE, Inc. /s/ BRAD S. LAKHIA Brad S. Lakhia Executive Vice President and Chief Financial Officer

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