secwatch.observer — SEC 8-K summary
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Issuer:     Upstart Holdings, Inc. (UPST)
CIK:        0001647639
Form:       8-K
Filed at:   2022-08-08T23:59:59+00:00
Accession:  0001647639-22-000047
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Upstart Q2 revenue $228M (+18% YoY); net loss $29.9M; Q3 guidance $170M; shifts to committed capital
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- GAAP net loss $29.9M vs profit $37.3M a year ago; adjusted net income $1.0M down from $58.5M.
- Q3 revenue guidance ~$170M, implying ~25% sequential decline; adjusted EBITDA ~$0.
- Conversion on rate requests fell to 13% from 24% on funding constraints; loan volume $3.3B (+12%).
- Repurchased 3.5M shares for ~$125M in Q2; unrestricted cash ~$800M as of June 30.
- CEO cites investor loss aversion; moving toward long-term committed capital and using balance sheet to bridge.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1647639/000164763922000047/0001647639-22-000047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1647639/000164763922000047/upst-20220808.htm
  HTML page:      https://secwatch.observer/filing/0001647639-22-000047

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer