{"schema_version":"secwatch.filing_event.v1","accession":"0001647639-23-000049","form_type":"8-K","ticker":"UPST","cik":"0001647639","company_name":"Upstart Holdings, Inc.","filed_at":"2023-11-07T23:59:59+00:00","discovered_at":"2026-05-14T18:03:29.931017+00:00","generated_at":"2026-06-08T15:44:35.602040+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 $135M, down 14% YoY; net loss $40.3M, improves from $56.2M loss","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001647639-23-000049","json":"https://secwatch.observer/filing/0001647639-23-000049.json","markdown":"https://secwatch.observer/filing/0001647639-23-000049.md","text":"https://secwatch.observer/filing/0001647639-23-000049.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1647639/000164763923000049/0001647639-23-000049-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1647639/000164763923000049/upst-20231107.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-08T15:44:35.602040+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":"4167b6858cc14fe04de1abde27734b529386b8f6","claim":"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).","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1647639/000164763923000049/0001647639-23-000049-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"third quarter of fiscal year 2023 ended September 30, 2023"},{"label":"Revenue","value":"$135 million"},{"label":"Net income","value":"$(40.3) million"},{"label":"EPS","value":"$(0.48)"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"589d275a0a09aabff48a534a614d6fac99053b51","claim":"Upstart Holdings, Inc. reported fourth quarter of 2023 results: revenue $135 million, net income $(48) million.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1647639/000164763923000049/0001647639-23-000049-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"fourth quarter of 2023"},{"label":"Revenue","value":"$135 million"},{"label":"Net income","value":"$(48) million"},{"label":"Result","value":"guidance update"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}