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Atlanticus vs Open Lending: revenue, profit, margins and growth compared

Atlanticus brought in $2B of revenue in fiscal 2025, Open Lending $93.2M in fiscal 2025. Revenue changed by +50.1% at Atlanticus and +288.0% at Open Lending on the year before, so Open Lending grew faster. Atlanticus kept 6.2% of its revenue as net profit, Open Lending -4.5%.

Side by side, latest fiscal year

ATLCLPRO
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2B$93.2M
Revenue growth+50.1%+288.0%
Net income$122.2M-$4.2M
Net margin6.2%-4.5%
Free cash flown/a-$3.3M
Free cash flow marginn/a-3.5%
Earnings per share (diluted)$5.96-$0.04
Cash$621.1M$176.6M
Debtn/a$84.8M
Price to earnings15.5n/a
Market value$1.4B$371.2M
Dividend yieldn/an/a
Rank by revenue in sector#152 of 495 · Finance#345 of 495 · Finance

Over the years

Revenue
ATLC FY2018: $5.6MATLC FY2019: $455.2MATLC FY2020: $563.4MATLC FY2021: $748.1MATLC FY2022: $1BATLC FY2023: $1.2BATLC FY2024: $1.3BATLC FY2025: $2BLPRO FY2018: $52.2MLPRO FY2020: $92.8MLPRO FY2020: $108.9MLPRO FY2021: $215.7MLPRO FY2022: $179.6MLPRO FY2023: $117.5MLPRO FY2024: $24MLPRO FY2025: $93.2MFY18FY19FY20FY21FY22FY23FY24FY25
ATLC $2BLPRO $93.2M
Net income
ATLC FY2018: $7.9MATLC FY2019: $26.4MATLC FY2020: $94.1MATLC FY2021: $177.9MATLC FY2022: $135.6MATLC FY2023: $102.8MATLC FY2024: $111.3MATLC FY2025: $122.2MLPRO FY2018: $28.3MLPRO FY2020: $62.5MLPRO FY2020: -$97.6MLPRO FY2021: $146.1MLPRO FY2022: $66.6MLPRO FY2023: $22.1MLPRO FY2024: -$135MLPRO FY2025: -$4.2MFY18FY19FY20FY21FY22FY23FY24FY25
ATLC $122.2MLPRO -$4.2M
Net margin
ATLC FY2018: 141.4%ATLC FY2019: 5.8%ATLC FY2020: 16.7%ATLC FY2021: 23.8%ATLC FY2022: 13.0%ATLC FY2023: 8.9%ATLC FY2024: 8.5%ATLC FY2025: 6.2%LPRO FY2018: 54.2%LPRO FY2020: 67.4%LPRO FY2020: -89.6%LPRO FY2021: 67.7%LPRO FY2022: 37.1%LPRO FY2023: 18.8%LPRO FY2024: -562.0%LPRO FY2025: -4.5%FY18FY19FY20FY21FY22FY23FY24FY25
ATLC 6.2%LPRO -4.5%
Revenue growth
ATLC FY2019: +8,092.9%ATLC FY2020: +23.8%ATLC FY2021: +32.8%ATLC FY2022: +40.0%ATLC FY2023: +10.4%ATLC FY2024: +13.5%ATLC FY2025: +50.1%LPRO FY2020: +77.9%LPRO FY2020: +17.3%LPRO FY2021: +98.0%LPRO FY2022: -16.7%LPRO FY2023: -34.6%LPRO FY2024: -79.5%LPRO FY2025: +288.0%FY19FY20FY21FY22FY23FY24FY25
ATLC +50.1%LPRO +288.0%
Free cash flow
ATLC FY2018: $41.5MATLC FY2019: $99.7MATLC FY2020: $212MLPRO FY2018: $28.5MLPRO FY2020: $41.7MLPRO FY2020: $23.4MLPRO FY2021: $95MLPRO FY2022: $107.2MLPRO FY2023: $82.5MLPRO FY2024: $17.4MLPRO FY2025: -$3.3MFY18FY19FY20FY21FY22FY23FY24FY25
ATLC $212MLPRO -$3.3M

Fiscal years as each company reports them; the two may end in different months.

Questions about Atlanticus and Open Lending

Which is bigger by revenue, Atlanticus or Open Lending?

Atlanticus is bigger by revenue: $2B in fiscal 2025, against $93.2M for Open Lending in fiscal 2025.

Which keeps more of its revenue as profit, Atlanticus or Open Lending?

Atlanticus had a net margin of 6.2% in fiscal 2025; Open Lending had -4.5% in fiscal 2025.

Which grew revenue faster, Atlanticus or Open Lending?

In their latest fiscal years revenue changed by +50.1% at Atlanticus and +288.0% at Open Lending.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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