NASDAQ$UPST
Upstart Holdings Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Upstart's financial performance showed improvement in efficiency and strategic investments for long-term growth.
Upstart reported a 24% increase in total revenue year-over-year, reaching $128 million. The company saw improvements in net loss, adjusted EBITDA, and contribution profit. They are focused on efficiency and anticipate sequential growth in the second half of the year and positive EBITDA by the end of the year.
- Total revenue increased by 24% year-over-year to $128 million.
- Transaction volume increased by 13% year-over-year with 119,380 loans originated, totaling $1.1 billion.
- GAAP net loss improved to $(64.6) million, up from $(129.3) million in the same quarter of the prior year.
- Conversion rate on rate requests increased to 14%, up from 8% in the same quarter of the prior year.
Headline financials
Revenue & EPS history
Upstart · Revenue · Quarterly
$128M
Revenue by segment
Upstart · $147M total across 1 segment · Q3 2023
- Servicing & Other Fees$147M-18.2%100.0%
Forward guidance
For the second quarter of 2024, Upstart expects revenue of approximately $125 million, revenue from fees of approximately $135 million, net interest income (loss) of approximately $(10) million, contribution margin of approximately 56%, net income (loss) of approximately $(75) million, adjusted net income (loss) of approximately $(36) million, adjusted EBITDA of approximately $(25) million.
Tailwinds
- Revenue of approximately $125 million
- Revenue From Fees of approximately $135 million
- Contribution Margin of approximately 56%
- Net Income (Loss) of approximately $(75) million
- Adjusted Net Income (Loss) of approximately $(36) million
Headwinds
- Net Interest Income (Loss) of approximately $(10) million
- Adjusted EBITDA of approximately $(25) million
- Upstart has not reconciled the forward-looking non-GAAP measures above to comparable forward-looking GAAP measures because of the potential variability and uncertainty of incurring these costs and expenses in the future.
- Accordingly, a reconciliation is not available without unreasonable effort.
- All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+4.9%
Avg return
Earnings day
+9.4%
Avg return
5 days after
+11.7%
Avg return
30 days after
42%
10 / 24 earnings
Positive
+91.7%
Q4 2020
Best reaction
-59.9%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -8.1% | -7.9% | -4.6% | |
| Q4 2025 | -15.0% | -21.3% | -32.3% | |
| Q3 2025 | -9.7% | -16.2% | +1.1% | |
| Q1 2025 | -9.6% | +3.0% | +5.7% | |
| Q4 2024 | +31.8% | +22.4% | -27.9% | |
| Q3 2024 | +50.1% | +28.6% | +42.9% | |
| Q2 2024 | +39.8% | +52.2% | +50.0% | |
| Q1 2024 | -10.3% | -1.4% | +4.3% | |
| Q4 2023 | -25.4% | -26.2% | -34.5% | |
| Q3 2023 | -27.0% | -28.8% | +15.6% | |
| Q2 2023 | -34.5% | -35.5% | -38.8% | |
| Q1 2023 | +41.8% | +22.5% | +144.8% | |
| Q4 2022 | +34.2% | +13.9% | -1.8% | |
| Q3 2022 | -8.4% | +21.1% | -7.9% | |
| Q2 2022 | -3.9% | +17.4% | -10.0% | |
| Q1 2022 | -59.9% | -54.5% | -48.3% | |
| Q4 2019 | -13.7% | -19.5% | -10.1% | |
| Q4 2021 | +41.5% | +24.3% | +11.4% | |
| Q3 2020 | -5.0% | -5.7% | -34.7% | |
| Q3 2021 | -23.3% | -21.0% | -46.3% | |
| Q2 2020 | +12.8% | +19.2% | +51.8% | |
| Q2 2021 | +24.8% | +48.2% | +111.1% | |
| Q1 2021 | +4.1% | +17.2% | +66.0% | |
| Q4 2020 | +91.7% | +174.6% | +74.3% | |
| Q1 2020 | — | — | — | |
| Q3 2019 | — | — | — |
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