Hotter-than-expected inflation data is pressuring stocks this morning, but the shares of CVS Health Corp (NYSE:CVS), DoorDash Inc (NASDAQ:DASH), and Upstart Holdings Inc (NASDAQ:UPST) are bucking today's headwinds, thanks to a round of upbeat earnings.CVS Eyes Best Day EverCVS is up 14.9% to trade at $63.22 at last glance, after the pharma retailer reported better-than-expected earnings and revenue for the fourth quarter, while its 2025 profit outlook met expectations. Shares are on track for a third-straig ...

The stock market was having a sharply negative day on Wednesday, mainly due to a hotter-than-expected inflation report. But lending technology company Upstart (UPST 31.23%) was a big exception. As of 9:50 a.m. ET, Upstart was higher by more than 30% for the day.Strong results and guidanceAs you might expect, Upstart's earnings report is the main catalyst behind the move. The company handily beat expectations on both the top and bottom lines, as revenue surged by 56% year over year and the company was nicely ...

CANADA - 2025/02/06: In this photo illustration, the Upstart Holdings logo is seen displayed on a ... [+] smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesUpstart (NASDAQ: UPST), a cloud-based artificial intelligence lending platform in the U.S., recently announced its Q4 earnings, which significantly exceeded market expectations. The company reported revenue of $219 million and earnings of $0.26 per share, surpassing th ...

Upstart’s latest quarterly results showed double-digit gains in loan originations, powered by artificial intelligence (AI) and automation, where management also said that the credit quality of its lending portfolio was strong amid new capital commitments from its lending partners.The earnings materials indicate that during the quarter, the company originated more than 243,000 personal loans, which was 89% higher than a year ago and up 30% sequentially. The transaction dollars in the quarter came to $2 billi ...

Upstart Holdings, Inc. (NASDAQ:UPST) Q4 2024 Earnings Call Transcript February 11, 2025 4:30 PM ET Company Participants Sonya Banerjee - Investor Relations Dave Girouard - Co Founder and Chief Executive Officer Sanjay Datta - Chief Financial Officer Conference Call Participants Kyle Peterson - Needham Simon Clinch - Redburn Atlantic Peter Christiansen - Citi Ramsey Assal - Barclays Dan Dolev - Mizuho David Scharf - JMP Securities Vincent Caintic - BTIG John Hecht - Jefferies Reggie Smith - J.P. Morgan James ...

Core Insights - Upstart Holdings, Inc. reported a revenue of $218.96 million for the quarter ended December 2024, marking a 56.1% increase year-over-year and exceeding the Zacks Consensus Estimate by 21.60% [1] - The company's EPS for the quarter was $0.26, a significant improvement from -$0.11 in the same quarter last year, resulting in an EPS surprise of 620.00% compared to the consensus estimate of -$0.05 [1] Financial Performance Metrics - Transaction Volume reached $2.11 million, surpassing the two-analyst average estimate of $1.66 million [4] - Revenue from fees, net totaled $199.28 million, exceeding the four-analyst average estimate of $185.02 million, reflecting a year-over-year increase of 30.4% [4] - Total interest income, interest expense, and fair value adjustments, net amounted to $19.69 million, significantly better than the estimated -$4.99 million, although this represents a -257.1% change year-over-year [4] - Revenue from platform and referral fees, net was $165.76 million, exceeding the three-analyst average estimate of $148.30 million, with a year-over-year change of +40.2% [4] - Revenue from servicing and other fees, net was $33.52 million, slightly below the three-analyst average estimate of $36.69 million, showing a year-over-year decline of -3.1% [4] Stock Performance - Upstart's shares have returned +24.3% over the past month, outperforming the Zacks S&P 500 composite's +4.2% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Upstart Holdings, Inc. (UPST) came out with quarterly earnings of $0.26 per share, beating the Zacks Consensus Estimate of a loss of $0.05 per share. This compares to loss of $0.11 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 620%. A quarter ago, it was expected that this company would post a loss of $0.14 per share when it actually produced a loss of $0.06, delivering a surprise of 57.14%.Over the last four quarters, the c ...

Here's our initial take on Upstart's (UPST -5.08%) fourth-quarter results.Key MetricsMetricQ4 FY23Q4 FY24Changevs. ExpectationsRevenue$140 million$219 million+56%BeatGAAP earnings per share (loss)($0.50)($0.03)n/aBeatAdjusted EBITDA$0.6 million$38.8 million+6,164%n/aUnit loan transaction volume129,664245,663+90%n/aDemand for loans is bouncing back, and the Upstart profit flywheel is ramping upUpstart's business has whipsawed around the past few years as strong initial demand in a low-interest rate environme ...

Q4 and Full Year 2024 Earnings February 11, 2025 Disclaimer This presentation contains "forward-looking" statements that are based on our management's beliefs and assumptions and on information currently available to management. Forward-looking statements include all statements, other than statements of historical fact contained in this presentation, including but not limited to, information or predictions concerning our future financial performance, including our financial outlook for Q1 2025 and the full ...

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) Summarizes Upstart's financial performance for Q4 and full fiscal year 2024, showcasing significant growth and improved profitability [Fourth Quarter 2024 Financial Highlights](index=1&type=section&id=Fourth%20Quarter%202024%20Financial%20Highlights) Upstart achieved significant Q4 2024 growth with 56% revenue increase, positive Adjusted EBITDA, and near GAAP profitability - The CEO highlighted **dramatic growth** across all product categories and a return to **Adjusted EBITDA levels** not seen since Q1 2022, nearly achieving **GAAP profitability**[3](index=3&type=chunk) Q4 2024 Key Financial Metrics | Metric | Q4 2024 | Q4 2023 | YoY Change | | :--- | :--- | :--- | :--- | | Total Revenue | $219 million | $140.3 million | +56% | | Total Fee Revenue | $199 million | $152.8 million | +30% | | GAAP Net Loss | ($2.8) million | ($42.4) million | Improved | | Adjusted Net Income | $29.9 million | ($9.7) million | Improved | | GAAP Diluted EPS | ($0.03) | ($0.50) | Improved | | Adjusted Diluted EPS | $0.26 | ($0.11) | Improved | | Adjusted EBITDA | $38.8 million | $0.6 million | +6367% | | Contribution Profit | $122 million | $95.6 million | +28% | Q4 2024 Key Operating Metrics | Metric | Q4 2024 | Q4 2023 | YoY Change | | :--- | :--- | :--- | :--- | | Transaction Volume, Dollars | $2.1 billion | $1.25 billion | +68% | | Transaction Volume, Number of Loans | 245,663 | 129,664 | +89% | | Conversion Rate | 19.3% | 11.6% | +7.7 p.p. | [Fiscal Year 2024 Financial Highlights](index=1&type=section&id=Fiscal%20Year%202024%20Financial%20Highlights) Upstart's FY 2024 total revenue grew 24%, significantly reducing GAAP net loss and achieving positive Adjusted EBITDA Full Year 2024 Key Financial Metrics | Metric | FY 2024 | FY 2023 | YoY Change | | :--- | :--- | :--- | :--- | | Total Revenue | $637 million | $513.6 million | +24% | | Total Fee Revenue | $635 million | $560.4 million | +13% | | GAAP Net Loss | ($129) million | ($240) million | Improved | | Adjusted Net Loss | ($17.8) million | ($46.9) million | Improved | | GAAP Diluted EPS | ($1.44) | ($2.87) | Improved | | Adjusted Diluted EPS | ($0.20) | ($0.56) | Improved | | Adjusted EBITDA | $10.6 million | ($17.2) million | Improved | | Contribution Profit | $382 million | $353.3 million | +8% | Full Year 2024 Key Operating Metrics | Metric | FY 2024 | FY 2023 | YoY Change | | :--- | :--- | :--- | :--- | | Transaction Volume, Dollars | $5.9 billion | $4.6 billion | +28% | | Transaction Volume, Number of Loans | 697,092 | 437,659 | +59% | | Conversion Rate | 16.5% | 9.7% | +6.8 p.p. | [Financial Outlook](index=2&type=section&id=Financial%20Outlook) Provides Upstart's financial projections for Q1 and the full fiscal year 2025, including revenue and profitability targets [First Quarter 2025 Outlook](index=2&type=section&id=First%20Quarter%202025%20Outlook) Upstart projects Q1 2025 revenue of approximately $200 million, anticipating an Adjusted Net Income of $16 million Q1 2025 Financial Outlook | Metric | Expected Value | | :--- | :--- | | Revenue | ~$200 million | | Revenue From Fees | ~$185 million | | Contribution Margin | ~57% | | GAAP Net Income (Loss) | ~($20) million | | Adjusted Net Income (Loss) | ~$16 million | | Adjusted EBITDA | ~$27 million | [Full Year 2025 Outlook](index=3&type=section&id=Full%20Year%202025%20Outlook) Upstart targets approximately $1 billion in FY 2025 revenue, aiming for an 18% Adjusted EBITDA Margin and GAAP net income breakeven Full Year 2025 Financial Outlook | Metric | Expected Value | | :--- | :--- | | Revenue | ~$1 billion | | Revenue From Fees | ~$920 million | | Adjusted EBITDA Margin | ~18% | | GAAP Net Income | At least breakeven | [Corporate Information and Definitions](index=3&type=section&id=Corporate%20Information%20and%20Definitions) Details corporate announcements and defines key operating and non-GAAP financial metrics used for business evaluation [Corporate Announcements](index=3&type=section&id=Corporate%20Announcements) Upstart will host an "Upstart AI Day" on May 14, 2025, in New York City to discuss its technology and strategy - Upstart will host an **"Upstart AI Day"** on **May 14, 2025**, in New York City for leadership to discuss the company's **technology, business model, and strategy**[8](index=8&type=chunk) [Key Operating Metrics and Non-GAAP Measures](index=5&type=section&id=Key%20Operating%20Metrics%20and%20Non-GAAP%20Measures) Upstart uses transaction volume and conversion rate as key operating metrics, alongside non-GAAP measures for core performance evaluation - **Transaction volume**, measured in dollars and number of loans, is used as a proxy for the company's **overall scale and platform reach**[17](index=17&type=chunk)[18](index=18&type=chunk) - **Conversion rate**, which is the number of loans divided by legitimate rate inquiries, is tracked to understand the **efficiency of the borrower funnel**[19](index=19&type=chunk) - **Non-GAAP measures** are used to **supplement GAAP results** for evaluating operating performance, planning, and forecasting, by excluding items like stock-based compensation to **enhance comparability**[21](index=21&type=chunk)[22](index=22&type=chunk) [Consolidated Financial Statements](index=8&type=section&id=Consolidated%20Financial%20Statements) Presents Upstart's consolidated balance sheets, statements of operations, and cash flows for the reported periods [Consolidated Balance Sheets](index=8&type=section&id=Consolidated%20Balance%20Sheets) Upstart's total assets increased to $2.37 billion by Dec 31, 2024, driven by higher cash and borrowings Balance Sheet Summary (in thousands) | Account | Dec 31, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $788,422 | $368,405 | | Loans (at fair value) | $806,304 | $1,156,413 | | **Total Assets** | **$2,366,958** | **$2,017,100** | | Borrowings | $1,402,168 | $1,040,424 | | **Total Liabilities** | **$1,733,740** | **$1,381,795** | | **Total Stockholders' Equity** | **$633,218** | **$635,305** | [Consolidated Statements of Operations](index=10&type=section&id=Consolidated%20Statements%20of%20Operations) Upstart's FY 2024 total revenue increased 24% to $636.5 million, significantly narrowing its net loss Statement of Operations Summary (in thousands) | Account | Year Ended Dec 31, 2024 | Year Ended Dec 31, 2023 | | :--- | :--- | :--- | | Revenue from fees, net | $635,466 | $560,431 | | **Total Revenue** | **$636,528** | **$513,562** | | Total operating expenses | $809,384 | $770,087 | | **Loss from operations** | **($172,856)** | **($256,525)** | | **Net loss** | **($128,581)** | **($240,132)** | | Net loss per share, diluted | ($1.44) | ($2.87) | - For the full year 2024, **Platform and referral fees grew** to $502.4 million from $414.1 million in 2023, while **Servicing and other fees decreased** to $133.1 million from $146.3 million[30](index=30&type=chunk) [Consolidated Statements of Cash Flows](index=12&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Upstart generated $186.3 million in operating cash flow in 2024, significantly increasing its year-end cash balance Cash Flow Summary (in thousands) | Activity | Year Ended Dec 31, 2024 | Year Ended Dec 31, 2023 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $186,331 | ($111,712) | | Net cash used in investing activities | ($237,726) | ($118,455) | | Net cash provided by financing activities | $559,871 | $165,487 | | **Change in cash, cash equivalents and restricted cash** | **$508,476** | **($64,680)** | | **Cash, cash equivalents and restricted cash at end of year** | **$976,263** | **$467,787** | [Reconciliation of GAAP to Non-GAAP Financial Measures](index=15&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Financial%20Measures) Provides detailed reconciliations of GAAP financial results to non-GAAP measures like Contribution Profit, Adjusted EBITDA, and Adjusted Net Income [Contribution Profit Reconciliation](index=15&type=section&id=Contribution%20Profit%20Reconciliation) Contribution Profit increased to $381.5 million in FY 2024, with Q4 2024 reaching $121.9 million Contribution Profit Reconciliation (in thousands) | Period | Revenue from fees, net | Contribution Profit | Contribution Margin | | :--- | :--- | :--- | :--- | | **Q4 2024** | **$199,276** | **$121,898** | **61%** | | Q4 2023 | $152,846 | $95,595 | 63% | | **FY 2024** | **$635,466** | **$381,533** | **60%** | | FY 2023 | $560,431 | $353,294 | 63% | [Adjusted EBITDA Reconciliation](index=16&type=section&id=Adjusted%20EBITDA%20Reconciliation) Adjusted EBITDA turned positive in FY 2024 at $10.6 million, with Q4 2024 reaching $38.8 million Adjusted EBITDA Reconciliation (in thousands) | Period | Net Loss | Adjusted EBITDA | Adjusted EBITDA Margin | | :--- | :--- | :--- | :--- | | **Q4 2024** | **($2,755)** | **$38,775** | **18%** | | Q4 2023 | ($42,398) | $619 | 0% | | **FY 2024** | **($128,581)** | **$10,594** | **2%** | | FY 2023 | ($240,132) | ($17,217) | -3% | [Adjusted Net Income (Loss) Reconciliation](index=17&type=section&id=Adjusted%20Net%20Income%20%28Loss%29%20Reconciliation) Adjusted Net Loss significantly reduced to $17.8 million in FY 2024, with Q4 2024 achieving a positive Adjusted Net Income of $29.9 million Adjusted Net Income (Loss) Reconciliation (in thousands, except per share data) | Period | Net Loss | Adjusted Net Income (Loss) | Adjusted Diluted EPS | | :--- | :--- | :--- | :--- | | **Q4 2024** | **($2,755)** | **$29,935** | **$0.26** | | Q4 2023 | ($42,398) | ($9,726) | ($0.11) | | **FY 2024** | **($128,581)** | **($17,834)** | **($0.20)** | | FY 2023 | ($240,132) | ($46,933) | ($0.56) |