OpenlaneInc. is pairing product innovation with financial momentum.
The operator of the online marketplace introduced Audio Boost AI, a new tool for helping car dealers evaluate engine health with greater accuracy, while reporting strong second-quarter earnings that included double-digit growth in dealer activity and net income.
Audio Boost AI integrates directly into the vehicle condition reports for dealer-consigned vehicles. The tool uses high-quality engine recordings alongside an artificial intelligence model trained on more than 1.2 million samples to detect anomalies. If it identifies potential issues, its AI highlights them visually and provides dealers with comparison clips from engines in normal condition. Color-coded alerts at the top of each report flag whether an issue has been detected, aiming to streamline what has historically been one of the most difficult aspects of wholesale vehicle assessment.
“Understanding engine health is one of the most persistent industry pain points for dealers, and Audio Boost AI is a gamechanger offering unparalleled transparency and confidence,” said Justin Zane, senior vice president and president of U.S. marketplace and services at Openlane.
He added that the new feature allows dealers to identify problems faster and make more informed bidding decisions.
How Openlane used AI in Q2
The rollout of Audio Boost AI builds on Openlane’s earlier AI use. The company launched Visual Boost AI and Code Boost IQ in 2024. It designed both to enhance the clarity and consistency of its vehicle condition reports. Together, the tools reflect Openlane’s strategy of using data and technology to improve dealer confidence in digital transactions.
The launch coincided with a strong second quarter for the Carmel, Indiana-based company. Revenue climbed to $481.7 million for the three months ending June 30. That’s a 9% increase from $443.8 million in the same period last year. Gross merchandise value (GMV), the total worth of vehicles sold through the platform, rose 10% to approximately $7.5 billion. Dealer volume was up 21%, while auction fee revenue jumped 24%.
Openlane’s profitability also strengthened. Income from continuing operations rose to $33.4 million, more than tripling from $10.7 million in the second quarter of 2024. Adjusted earnings before interest, taxes, depreciation, and amortization increased 21% to $87 million, and net operating cash flow surged 91% to $72 million.
For the first half of 2025, Openlane reported revenue of $941.8 million, up from $873.7 million in the first six months of 2024. Income from continuing operations more than doubled to $70.3 million from $29.2 million a year earlier, while operating profit climbed to $99.1 million from $60.7 million.
Chief executive officer Peter Kelly said the company’s performance reflects the growing strength of its marketplace model.
Openlane full-year outlook in 2025
“Openlane delivered a very strong second quarter, growing auction fee revenue by 24%,” he said. “Looking ahead, we remain well positioned to benefit from the ongoing industry transition from physical to digital and the anticipated increase in off-lease supply beginning in 2026.”
Given the strong quarter, Openlane raised its full-year outlook. The company now expects income from continuing operations between $132 million and $140 million, up from prior guidance of $100 million to $114 million.
The combined financial and product announcements signal Openlane’s focus on expanding its marketplace through technology while delivering stronger results to shareholders. With dealer adoption increasing and new tools aimed at improving transaction transparency, the company is positioning itself to capture more of the industry’s ongoing shift from physical auctions to digital platforms.
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