{"schema_version":"secwatch.filing_event.v1","accession":"0001647639-22-000062","form_type":"8-K","ticker":"UPST","cik":"0001647639","company_name":"Upstart Holdings, Inc.","filed_at":"2022-11-08T23:59:59+00:00","discovered_at":"2026-05-14T18:03:51.567573+00:00","generated_at":"2026-06-22T03:50:53.258423+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Upstart Q3 revenue $157M (-31% YoY), GAAP EPS loss $0.69; Q4 guidance weak","bullets":["Total revenue $157M, down 31% YoY; fee revenue $179M (-15%); loan volume $1.9B (-48%).","GAAP net loss ($56.2M), diluted EPS ($0.69); adjusted net loss ($19.3M), adjusted EPS ($0.24).","Q4 outlook: revenue $125-145M, adjusted net loss ~$40M, adjusted EBITDA ~($35M).","Conversion rate fell to 10% from 23% YoY; contribution margin rose to 54% from 46%.","Repurchased 931k shares for ~$25M during Q3."],"urls":{"canonical":"https://secwatch.observer/filing/0001647639-22-000062","json":"https://secwatch.observer/filing/0001647639-22-000062.json","markdown":"https://secwatch.observer/filing/0001647639-22-000062.md","text":"https://secwatch.observer/filing/0001647639-22-000062.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1647639/000164763922000062/0001647639-22-000062-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1647639/000164763922000062/upst-20221108.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-22T03:50:53.258423+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"6f91a01a2fe7f6862df6b592afd9cee6a0864e5a","claim":"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.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1647639/000164763922000062/0001647639-22-000062-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fourth quarter of 2022"},{"label":"Revenue","value":"Revenue of approximately $125 to $145 million"},{"label":"Net income","value":"Net Income of approximately ($87) million"},{"label":"Guidance","value":"initiated"},{"label":"Result","value":"guidance update"}],"fact_type":"earnings_release"},{"claim_id":"a817eda3322c21a11da53fe4a50a7dccf3c3a8d4","claim":"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).","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1647639/000164763922000062/0001647639-22-000062-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fiscal quarter ended September 30, 2022"},{"label":"Revenue","value":"Total revenue was $157 million"},{"label":"Net income","value":"GAAP net income (loss) was ($56.2) million"},{"label":"EPS","value":"GAAP diluted earnings per share was ($0.69)"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}