Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Upstart Holdings, Inc. reported the fourth quarter of 2022 results: revenue Revenue of approximately $125 to $145 million, net income Net Income of approximately ($87) million. Guidance initiated.
- Period
- the fourth quarter of 2022
- Revenue
- Revenue of approximately $125 to $145 million
- Net income
- Net Income of approximately ($87) million
- Guidance
- initiated
- Result
- guidance update
Exact text from the filing
Financial Outlook For the fourth quarter of 2022, Upstart expects: • Revenue of approximately $125 to $145 million ◦ Revenue from fees of approximately $160 million ◦ Net interest income of approximately ($25) million • Contribution Margin of approximately 54% • Net Income of approximately ($87) million • Adjusted Net Income of approximately ($40) million • Adjusted EBITDA of approximately ($35) million • Basic Weighted-Average Share Count of approximately 82.0 million shares • Diluted Weighted-Average Share Count of approximately 89.3 million shares
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Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Upstart Holdings, Inc. reported the fiscal quarter ended September 30, 2022 results: revenue Total revenue was $157 million, net income GAAP net income (loss) was ($56.2) million, EPS GAAP diluted earnings per share was ($0.69).
- Period
- the fiscal quarter ended September 30, 2022
- Revenue
- Total revenue was $157 million
- Net income
- GAAP net income (loss) was ($56.2) million
- EPS
- GAAP diluted earnings per share was ($0.69)
- Result
- reported results
Exact text from the filing
Third Quarter 2022 Financial Highlights • Revenue. Total revenue was $157 million, a decrease of 31% from the third quarter of 2021. Total fee revenue was $179 million, a decrease of 15% year-over-year. • Transaction Volume and Conversion Rate. Bank partners originated 188,519 loans, totaling $1.9 billion, across our platform in the third quarter, down 48% from the same quarter of the prior year. Conversion on rate requests was 10% in the third quarter of 2022, down from 23% in the same quarter of the prior year. • Income (Loss) from Operations. Loss from operations was ($58.1) million, down from $28.6 million the prior year. • Net Income (Loss) and EPS. GAAP net income (loss) was ($56.2) million, down from $29.1 million in the third quarter of 2021. Adjusted net income (loss) was ($19.3) million, down from $57.4 million in the same quarter of the prior year. Accordingly, GAAP diluted earnings per share was ($0.69), and diluted adjusted earnings per share was ($0.24) based on the weigh
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