Upstart Reports Third-Quarter Earnings Beat and Record Contribution Profit
Upstart Holdings (UPST) reported third-quarter financial results that exceeded analyst expectations for both revenue and earnings per share. The AI-driven loan originator saw revenue grow 34% year-over-year to $370.5 million, driven by a significant increase in loan originations totaling $4.1 billion. A key highlight was the company's record contribution profit of $218 million, signaling improved core operational efficiency. Despite the top-line success, Upstart provided mixed guidance for the full year. While the company raised its revenue from fees forecast to $1.32 billion, it lowered its adjusted EBITDA guidance to $260 million due to macroeconomic headwinds and lower profits on non-core balance sheet loans. However, the secured loan segment showed massive growth, with originations jumping 194% and achieving positive contribution margin ahead of schedule.
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Topics: earnings beat guidance update macroeconomic headwinds revenue growth
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Part of the story Upstart Reports Strong Q3 Results with Record Contribution Profit and Secured Loan Turnaround (9 articles)