secwatch.observer — SEC 8-K summary
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Issuer:     Upstart Holdings, Inc. (UPST)
CIK:        0001647639
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0001647639-23-000042
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Upstart Q2 revenue $136M (-40% YoY); record contribution margin 67%, positive adjusted net income
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- Revenue $136M, down 40% YoY; loan volume $1.2B, down 64% YoY; conversion rate 9% vs 13%.
- GAAP net loss $28.2M, improved from $29.9M; GAAP diluted EPS -$0.34; adjusted EPS $0.06.
- Record contribution margin 67% (vs 47% YoY); adjusted EBITDA $11M, up from $5.5M; positive cash flow.
- Q3 guidance: revenue ~$140M, contribution margin ~65%, adjusted EBITDA ~$5M, net loss ~$38M.
- CEO cites improved efficiency and operating leverage; ready for growth when economy normalizes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1647639/000164763923000042/0001647639-23-000042-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1647639/000164763923000042/upst-20230808.htm
  HTML page:      https://secwatch.observer/filing/0001647639-23-000042

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