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Upstart Holdings, Inc.

Upstart Holdings, Inc.

NASDAQ•UPST
CEO: Mr. David J. Girouard
Sector: Financial Services
Industry: Financial - Credit Services
Listing Date: 2020-12-16
Upstart Holdings, Inc., together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small dollar loans that connects consumer demand for loans to its to bank and credit unions. Upstart Holdings, Inc. was founded in 2012 and is headquartered in San Mateo, California.
Contact Information
2950 South Delaware Street, Suite 410, San Mateo, CA, 94403, United States
833-212-2461
www.upstart.com
Market Cap
$4.48B
P/E (TTM)
138.1
28
Dividend Yield
--
52W High
$96.43
52W Low
$31.40
52W Range
22%
Rank65Top 87.9%
2.0
F-Score
Modified Piotroski Analysis
Based on 8-year fundamentals
Weak • 2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2017-2024

Financial Dashboard

Q3 2025 Data

Revenue

$285.90M+65.30%
4-Quarter Trend

EPS

$0.33-540.00%
4-Quarter Trend

FCF

-$122.70M-168.46%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Fee Revenue Strong Growth Revenue from fees, net totaled $684.8M for nine months, showing a 57.0% increase over prior year.
Transaction Volume Doubles Dollar Transaction Volume reached $7.81B for nine months, reflecting 104.2% growth driven by model improvements.
GAAP Profitability Achieved GAAP Net Income swung to $35.0M profit for nine months, compared to a $(125.8)M loss previously.
Adjusted EBITDA Significant Swing Adjusted EBITDA reached $166.8M for nine months, a major positive shift from $(28.2)M loss last year.

Risk Factors

AI Model Performance Risk AI models may not accurately reflect economic conditions, causing Upstart-powered loan performance to be worse than anticipated.
Loan Funding Diversity Failure Inability to maintain diverse loan funding sources or manage committed capital risks growth prospects and financial condition.
Macroeconomic Environment Impact Economic volatility directly impacts credit performance, consumer demand, and capital availability in the lending marketplace.
Evolving Regulatory Scrutiny Compliance with complex and evolving laws, especially concerning AI and consumer protection, increases operating costs and legal risk.

Outlook

Enhance AI Model Effectiveness Focus remains on improving AI model effectiveness and predictiveness to support higher approval rates and lower interest rates.
Increase Loan Marketplace Volume Expect to increase the volume of loans facilitated through the AI lending marketplace by expanding potential borrower base.
Manage Capital Allocation Plans Capital allocation plans include funding loans via balance sheet and managing timing for share repurchases and other investments.
Adapt to Regulatory Landscape Continue compliance efforts to successfully adapt to complex and evolving regulatory environments, including AI/ML technology regulation.

Peer Comparison

Revenue (TTM)

StoneX Group Inc.SNEX
$132.38B
+32.5%
ORIX CorporationIX
$17.29B
-9.9%
Raymond James Financial, Inc.RJF
$15.91B
+7.5%

Gross Margin (Latest Quarter)

StoneX Group Inc.SNEX
395.5%
+394.0pp
Raymond James Financial, Inc.RJF
132.3%
+46.6pp
ORIX CorporationIX
88.6%
+43.5pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
IX$33.19B13.69.2%37.0%
RJF$32.47B15.217.5%0.0%
SLM$5.55B8.826.9%23.1%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
8.1%
Steady Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention

Research & Insights

Next earnings:Feb 10, 2026
|
EPS:$0.47
|
Revenue:$288.58M
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 4, 2025|
    Revenue: $285.90M+65.3%
    |
    EPS: $0.33-540.0%
    Miss

  • Form 10-Q/A - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 6, 2025|
    Revenue: $257.29M+85.0%
    |
    EPS: $0.06-109.5%
    Miss

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 5, 2025|Refer to amended data

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 6, 2025|
    Revenue: $220.39M+59.1%
    |
    EPS: $-0.03-96.5%
    Miss

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 14, 2025|
    Revenue: $676.96M+23.6%
    |
    EPS: $-1.44+49.8%
    Miss

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 8, 2024|
    Revenue: $172.96M+28.5%
    |
    EPS: $-0.07-84.4%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 7, 2024|
    Revenue: $139.10M+2.5%
    |
    EPS: $-0.62+82.4%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 8, 2024|
    Revenue: $138.51M+34.6%
    |
    EPS: $-0.74-53.2%
    Miss