Upstart Q3 revenue $135M, down 14% YoY; net loss $40.3M, improves from $56.2M loss

Upstart Holdings, Inc.

2023-Q3 EPS reported -$2.38 revenue$373,250,000

Total revenue $135M (-14% YoY); fee revenue $147M (-18% YoY); loan volume $1.2B (-34%).
GAAP net loss $40.3M (-$0.48 diluted EPS); adjusted net loss $3.9M (-$0.05 adjusted EPS).
Contribution margin 64% (up from 54% YoY); adjusted EBITDA $2.3M vs -$14.4M YoY.
Q4 guidance: revenue ~$135M, contribution margin ~62%, adjusted EBITDA ~$0M, net loss ~$48M.
Conversion on rate requests 9.5% (down from 9.7% YoY); 114,464 loans originated.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Upstart Holdings, Inc. reported third quarter of fiscal year 2023 ended September 30, 2023 results: revenue $135 million, net income $(40.3) million, EPS $(0.48).

Period: third quarter of fiscal year 2023 ended September 30, 2023
Revenue: $135 million
Net income: $(40.3) million
EPS: $(0.48)
Result: reported results

Exact text from the filing

Third Quarter 2023 Financial Highlights • Revenue. Total revenue was $135 million, a decrease of 14% from the third quarter of 2022. Total fee revenue was $147 million, a decrease of 18% year-over-year. • Transaction Volume and Conversion Rate. Lending partners originated 114,464 loans, totaling $1.2 billion across our platform in the third quarter of 2023, down 34% from the same quarter of the prior year. Conversion on rate requests was 9.5% in the third quarter of 2023, down from 9.7% in the same quarter of the prior year. • Income (Loss) from Operations. Income (loss) from operations was $(43.8) million, up from $(58.1) million in the same quarter of the prior year. • Net Income (Loss) and EPS. GAAP net income (loss) was $(40.3) million, up from $(56.2) million in the third quarter of the prior year. Adjusted net income (loss) was $(3.9) million, up from $(19.3) million in the same quarter of the prior year. Accordingly, GAAP diluted earnings per share was $(0.48), and diluted adjus

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Upstart Holdings, Inc. reported fourth quarter of 2023 results: revenue $135 million, net income $(48) million.

Period: fourth quarter of 2023
Revenue: $135 million
Net income: $(48) million
Result: guidance update

Exact text from the filing

Financial Outlook For the fourth quarter of 2023, Upstart expects: • Revenue of approximately $135 million ◦ Revenue From Fees of approximately $150 million ◦ Net Interest Income (Loss) of approximately $(15.0) million • Contribution Margin of approximately 62% • Net Income (Loss) of approximately $(48) million • Adjusted Net Income (Loss) of approximately $(14) million • Adjusted EBITDA of approximately $0 million • Basic Weighted-Average Share Count of approximately 85.6 million shares • Diluted Weighted-Average Share Count of approximately 85.6 million shares

View on SEC.gov

51 earnings releases filed in the last 30 days. Browse all earnings releases →

Upstart Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001647639-23-000049

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.