secwatch.observer — SEC 8-K summary
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Issuer:     Upstart Holdings, Inc. (UPST)
CIK:        0001647639
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001647639-24-000019
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Upstart Q1 revenue $128M (+24% YoY); guides Q2 rev ~$125M, expects positive EBITDA in Q4
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- GAAP net loss $64.6M ($0.74 diluted EPS); adjusted net loss $27.2M ($0.31 adjusted EPS).
- Contribution margin 59% vs 58% YoY; adjusted EBITDA -$20.3M improving from -$31.1M YoY.
- Loan volume $1.1B (119,380 loans), up 13% YoY; conversion rate 14% vs 8% prior year.
- Q2 guidance: revenue ~$125M, net loss ~$75M, adj EBITDA ~$(25)M.
- H2 2024 outlook: revenue from fees ~$300M, positive EBITDA in Q4.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1647639/000164763924000019/0001647639-24-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1647639/000164763924000019/upst-20240507.htm
  HTML page:      https://secwatch.observer/filing/0001647639-24-000019

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