Highest-materiality recent filing
Upstart appoints former Santander US CEO Tim Wennes to board; Jeff Huber resigns
Tim Wennes elected to Upstart board as Class I director, effective May 28, 2026.
Upstart Q1 revenue up 44% to $308M, net loss widens to $6.6M; FY guidance reaffirmed
Total originations of $3.4B (+61% YoY); transaction volume of 425,356 loans (+77% YoY).
Upstart announces plan to apply for national bank charter
Upstart will apply to OCC and FDIC to establish an insured national bank, Upstart Bank, N.A., and to the Fed for bank holding company status.
Upstart repurchases $100M in common stock over four trading days
Repurchased 3,193,294 shares at avg $31.31/share between Feb 12-18, 2026.
Q4 revenue $296M (+35% YoY); net income $18.6M ($0.17 diluted EPS) vs year-ago loss of $2.8M.
Upstart names co-founder Paul Gu CEO effective May 1; Girouard becomes Executive Chairman
Paul Gu (CTO, co-founder) becomes CEO May 1, 2026; Dave Girouard becomes Executive Chairman.
Upstart Q3 revenue $277M (+71% YoY); turns GAAP profitable with $31.8M net income
Total originations of $2.9B, up 80% YoY; loan conversion rate 20.6% vs 16.3% a year ago.
Upstart issues $690M 0% convertible notes due 2032, repurchases $232.6M of 2026 notes
Issued $690M aggregate principal of 0% Convertible Senior Notes due 2032; initial conversion price ~$82.50 per share.
Upstart corrects Q2 adjusted EPS to $0.40; revenue up 102% YoY to $257M
Corrected diluted Adjusted EPS: Q2 2025 $0.40 (was $0.36); six-month $0.70 (was $0.62). No other changes.
Upstart Q2 revenue $257M (+102% YoY); GAAP net income $5.6M, first quarterly profit
Revenue $257M (+102% YoY); GAAP net income $5.6M vs loss of $54.5M in Q2 2024.
Upstart Q1 revenue $213M (+67% YoY); loan volume surges 89%; narrows GAAP net loss to $2.4M
Revenue of $213M, up 67% YoY; GAAP net loss improves to $2.4M from $64.6M loss in Q1 2024.
Upstart launches $500M at-the-market equity offering program with BTIG
Up to $500M of common stock may be sold from time to time through BTIG as sales agent under ATM program.
Upstart corrects Q4 adjusted EPS to $0.29, reports 56% revenue growth and positive FY 2025 outlook
Corrected diluted adjusted EPS of $0.29 (from $0.26) on corrected diluted shares of 103.1M (from 116.3M).
Upstart Q4 revenue $219M (+56% YoY); guides FY2025 revenue ~$1B, GAAP net income at least breakeven
Q4 2024: Total revenue $219M (+56% YoY); GAAP net loss ($2.8M) improved from ($42.4M); adjusted net income $29.9M.
Upstart issues $500M of 1.00% convertible notes due 2030, net proceeds ~$488M
Issued $500M aggregate principal amount (including full exercise of $75M greenshoe) of 1.00% Convertible Senior Notes due 2030.
Upstart Q3 revenue $162M (+20% YoY); net loss narrows to $6.8M; positive adj. EBITDA $1.4M
Revenue $162M (+20% YoY, +27% sequentially); fee revenue $168M.
Upstart issues $431.25M 2% convertible senior notes due 2029; buys back $334.2M of 0.25% notes
Issued $431.25M of 2.00% Convertible Senior Notes due 2029; net proceeds ~$420.9M after discounts and expenses.
Upstart Q2 revenue $128M, net loss $54.5M; Q3 revenue guidance $150M
Revenue $128M, down 6% YoY; fee revenue $131M, down 9%.
Upstart Q1 revenue $128M (+24% YoY); guides Q2 rev ~$125M, expects positive EBITDA in Q4
GAAP net loss $64.6M ($0.74 diluted EPS); adjusted net loss $27.2M ($0.31 adjusted EPS).
Upstart Q4 2023 revenue $140M, net loss $42.4M; Q1 2024 guidance revenue ~$125M
Q4 revenue $140M (-4% YoY, +4% seq); GAAP net loss $42.4M vs $55.3M loss YoY.
Upstart Q3 revenue $135M, down 14% YoY; net loss $40.3M, improves from $56.2M loss
Total revenue $135M (-14% YoY); fee revenue $147M (-18% YoY); loan volume $1.2B (-34%).
Upstart Q2 revenue $136M (-40% YoY); record contribution margin 67%, positive adjusted net income
Revenue $136M, down 40% YoY; loan volume $1.2B, down 64% YoY; conversion rate 9% vs 13%.
Upstart Q1 revenue $103M (-67% YoY); GAAP net loss $129M vs prior year profit
Revenue fell 67% to $103M; fee revenue $117M (down 63% YoY).
Upstart Q4 revenue down 52% YoY to $147M; net loss $55.3M; guides Q1 revenue ~$100M
Q4 revenue $147M (-52% YoY); GAAP net loss $55.3M ($0.67 diluted loss per share); adjusted EPS loss $0.25.
Upstart announces 20% workforce reduction, expects $57M cash savings
Reduction of ~365 employees (20% of workforce); suspension of small business loan product until macro improves.
Upstart Q3 revenue $157M (-31% YoY), GAAP EPS loss $0.69; Q4 guidance weak
Total revenue $157M, down 31% YoY; fee revenue $179M (-15%); loan volume $1.9B (-48%).
Laid off approx. 140 hourly employees who process loan applications, effective Nov 1, 2022.
Upstart Q2 revenue $228M (+18% YoY); net loss $29.9M; Q3 guidance $170M; shifts to committed capital
GAAP net loss $29.9M vs profit $37.3M a year ago; adjusted net income $1.0M down from $58.5M.
Upstart preliminary Q2 revenue ~$228M vs guidance $295-305M; net loss $(27-31)M
Revenue ~$228M, well below prior guidance of $295-305M; net loss $(27-31)M vs guidance loss $(4-0)M.
Upstart Q1 2022 revenue $310M (+156% YoY), GAAP EPS $0.34; Q2 guidance implies net loss near zero
Total revenue $310M (+156% YoY); GAAP net income $32.7M vs $10.1M YoY; adjusted EPS $0.61.
Upstart grants co-founder Paul Gu 7-year performance RSU award targeting stock price up to $616
Max 687,500 RSUs; vesting tied to stock price targets from $166 (14.7% above reference) to $616 (4.25x reference).
Upstart Q4 revenue $305M (+252% YoY), net income $58.9M; authorizes $400M share buyback
Q4 2021 total revenue $305M (+252% YoY); GAAP diluted EPS $0.61, adjusted diluted EPS $0.89.
Upstart Q3 revenue $228M (+250% YoY); net income $29.1M; guided Q4 rev $255-265M
Total revenue $228M, up 250% YoY; fee revenue $210M, up 235%.
Upstart issues $661.25M of 0.25% convertible notes due 2026, net proceeds $645.5M
Issued $661.25M aggregate principal of 0.25% Convertible Senior Notes due 2026; net proceeds $645.5M.
Upstart Q2 revenue $194M (+1,018% YoY), net income $37.3M; raises FY21 guide to $750M
Revenue $194M (+1,018% YoY); net income $37.3M vs ($6.2M) loss a year ago.
On May 19, 2026, Upstart Holdings, Inc. (“Upstart” or the “Company”) announced that its Board of Directors (the “Board”) elected Tim Wennes to serve as a Class I director on the Board, effective as of May 28, 2026.
On May 19 , 2026, Jeff Huber informed the Company that he will resign from the Board and the Nominating and Corporate Governance Committee of the Board, effective as of May 28, 2026.
elected Peter Bernard to serve as a Class II director on the Board, effective as of February 19, 2025.
Alison Nicoll, the General Counsel and Corporate Secretary of Upstart Holdings, Inc. (“Upstart”), announced her decision to retire from Upstart, effective as of November 23, 2022.
Anna Counselman, Senior Vice President, People and Operations of Upstart, transitioned into a new role as Senior Vice President, Business Operations, effective immediately.
Scott Darling will be succeeding her as Chief Legal Officer and Corporate Secretary.
On November 15, 2021, Robert Schwartz, a member of the Board of Directors (the “Board”) of Upstart Holdings, Inc. (“Upstart”) tendered his resignation from the Board, the Compensation Committee of the Board, and the Nominating and Corporate Governance Committee of the Board, effective November 15, 2021.
Max materiality 0.85 · Median 0.70 · Most common event earnings