Upstart Reports Strong Q3 Results with Record Contribution Profit and Secured Loan Turnaround
Upstart (UPST) reported third-quarter financial results that exceeded analyst expectations, despite a challenging macroeconomic environment characterized by high interest rates. Revenue grew 34% year-over-year to $371 million, while earnings per share rose to $0.33, beating the estimated $0.23. A significant highlight was the secured loan segment, which achieved profitability for the first time with a 17% contribution margin and saw originations nearly triple to $587 million. While the company demonstrated strong execution in technology and marketing—driving a 48% increase in contribution profit to $218 million—investors remained cautious. Although Upstart slightly raised its full-year fee revenue guidance, it lowered its adjusted EBITDA outlook due to macroeconomic pressures on the balance sheet. The market reaction was muted, with the stock seeing modest gains following the report.
Tickers: $UPST
Topics: earnings report loan origination revenue growth secured loans
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Part of the story Upstart Reports Strong Q3 Results with Record Contribution Profit and Secured Loan Turnaround (9 articles)