secwatch.observer — SEC 8-K summary
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Issuer:     Upstart Holdings, Inc. (UPST)
CIK:        0001647639
Form:       8-K
Filed at:   2023-11-07T23:59:59+00:00
Accession:  0001647639-23-000049
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1647639/000164763923000049/0001647639-23-000049-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1647639/000164763923000049/upst-20231107.htm
  HTML page:      https://secwatch.observer/filing/0001647639-23-000049

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