Openlane (OPLN) FY2020 results: revenue $1.3 billion, down 52.3% on the year
Openlane, Inc. (OPLN) reported revenue of $1.3 billion for fiscal 2020, the year ended 31 December 2020, down 52.3% on the year before. Net income was $500,000, down 99.7%, and diluted earnings per share $-0.16. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2021.
Revenue
$1.3 billion
-52.3% on the year
FY2016FY2020
Operating margin
5.2%
11.3% a year earlier
FY2016FY2020
Net income
$500,000
-99.7% on the year
FY2016FY2020
Diluted EPS
-$0.16
FY2016FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,327
2,782
2,443
-52.3%
Cost of revenue
744
1,617
1,322
-54.0%
Gross profit
583
1,165
1,121
-50.0%
Gross margin
43.9%
41.9%
45.9%
Selling, general and administrative
374
662
609
-43.4%
Operating income
69.2
314
340
-78.0%
Operating margin
5.2%
11.3%
13.9%
Interest expense
128
190
191
-32.3%
Pre-tax income
-64.8
130
152
Income tax
-11.2
37.7
34.3
Effective tax rate
n/a
29.0%
22.6%
Net income
0.5
188
328
-99.7%
Net margin
0.0%
6.8%
13.4%
Diluted EPS
-$0.16
$1.42
$2.42
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
384
542
750
-29.1%
Capital expenditure
62.8
162
131
-61.1%
Free cash flow
322
380
618
-15.5%
Free cash flow margin
24.2%
13.7%
25.3%
Cash from investing
n/a
n/a
-381
Cash from financing
n/a
n/a
-320
Depreciation and amortisation
109
189
172
-42.2%
Share-based compensation
11.8
19.6
19.6
-39.8%
Buybacks
10.2
120
150
-91.5%
Dividends paid
49.0
164
188
-70.2%
Dividend per share
$0.19
$1.08
$1.40
-82.4%
Diluted shares, weighted
129m
133m
136m
-2.7%
Shares outstanding at period end
130m
129m
133m
+0.7%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,616
1,650
1,464
-2.1%
Redeemable equity
550
0.0
n/a
Debt
3,139
3,351
4,113
-6.3%
Operating lease liabilities
344
358
0.0
-3.9%
Other liabilities
1,149
1,221
1,629
-5.9%
Total liabilities and equity
6,798
6,581
7,206
+3.3%
Fixed assets
590
609
631
-3.1%
Goodwill
1,160
1,822
1,677
-36.3%
Intangible assets
211
208
227
+1.6%
Cash and equivalents
752
508
277
+48.2%
Receivables
367
458
455
-19.7%
Other assets
3,718
2,978
3,939
+24.9%
Total assets
6,798
6,581
7,206
+3.3%
10-K for the year ended 31 December 2020, filed 18 February 2021: the filing.