NASDAQ$UPST
Upstart Holdings Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Upstart's financial results were impacted by economic headwinds and funding challenges, but the company made advancements in technology and AI model development.
Upstart's Q4 2022 total revenue was $147 million, a 52% decrease year-over-year. Lending partners originated 154,478 loans, totaling $1.5 billion, down 62% from the prior year. The company reported a GAAP net loss of $55.3 million, with a diluted loss per share of $(0.67).
- Total revenue decreased by 52% to $147 million compared to Q4 2021.
- Lending partners originated 154,478 loans, totaling $1.5 billion, a 62% decrease year-over-year.
- GAAP net loss was $(55.3) million, down from a net income of $58.9 million in Q4 2021.
- Conversion rate on rate requests was 11%, down from 24% in the same quarter of the prior year.
Headline financials
Revenue & EPS history
Upstart · Revenue · Quarterly
$147M
Revenue by segment
Upstart · $156M total across 1 segment · Q4 2022
- Servicing & Other Fees$156M-45.9%100.0%
Forward guidance
For the first quarter of 2023, Upstart expects revenue of approximately $100 million, a contribution margin of approximately 55%, a net loss of approximately ($145) million, adjusted EBITDA of approximately ($45) million, and a basic weighted-average share count of approximately 81.9 million shares.
Tailwinds
- Revenue of approximately $100 million
- Revenue From Fees of approximately $110 million
- Contribution Margin of approximately 55%
- Basic Weighted-Average Share Count of approximately 81.9 million shares
- Diluted Weighted-Average Share Count of approximately 81.9 million shares
Headwinds
- Net Interest Income (Loss) of approximately ($10) million
- Net Income (Loss) of approximately ($145) million
- Adjusted Net Income (Loss) of approximately ($70) million
- Adjusted EBITDA of approximately ($45) 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.
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 Q4 2022
+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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