secwatch.observer — SEC 8-K summary
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Issuer:     Upstart Holdings, Inc. (UPST)
CIK:        0001647639
Form:       8-K
Filed at:   2024-08-06T23:59:59+00:00
Accession:  0001647639-24-000032
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Upstart Q2 revenue $128M, net loss $54.5M; Q3 revenue guidance $150M
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- Revenue $128M, down 6% YoY; fee revenue $131M, down 9%.
- GAAP net loss $54.5M (EPS -$0.62) vs. loss $28.2M a year ago.
- Adjusted EBITDA -$9.3M, down from +$11.0M in Q2 2023.
- Loan originations $1.1B on 143,900 loans; conversion rate improved to 15% from 9%.
- Q3 2024 guidance: revenue ~$150M; expects positive EBITDA in Q4 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1647639/000164763924000032/0001647639-24-000032-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1647639/000164763924000032/upst-20240806.htm
  HTML page:      https://secwatch.observer/filing/0001647639-24-000032

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