secwatch.observer — SEC 8-K summary
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Issuer:     Upstart Holdings, Inc. (UPST)
CIK:        0001647639
Form:       8-K
Filed at:   2022-11-08T23:59:59+00:00
Accession:  0001647639-22-000062
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Upstart Q3 revenue $157M (-31% YoY), GAAP EPS loss $0.69; Q4 guidance weak
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1647639/000164763922000062/0001647639-22-000062-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1647639/000164763922000062/upst-20221108.htm
  HTML page:      https://secwatch.observer/filing/0001647639-22-000062

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