Upstart (UPST) Update / Briefing May 14, 2025 09:00 AM ET Speaker0 Please welcome VP of Investor Relations, Sonia Banerjee. Speaker1 Good morning. Good morning. Can you hear me? Just making sure. Welcome to Upstart AI Day. My name is Sonia. I'm the Head of Investor Relations for Upstart. And on behalf of the entire team, we are so glad that you were able to make it today. If you're here in the room with us or joining us on the webcast, we appreciate your engagement and your time. We have a fantastic morning ...

Group 1: Palantir Technologies - Palantir develops data analytics software for commercial and government sectors, with core platforms Gotham and Foundry that integrate complex data and machine learning models [2] - The company reported a 39% increase in revenue to $884 million and a 62% increase in non-GAAP earnings to $0.13 per diluted share, with total customers climbing 39% to 769 [4] - Despite strong financial results, the stock fell sharply due to concerns over valuation, with a forward price-to-sales ratio significantly higher than competitors [5][6] - Analysts have set a target price of $40 per share, indicating a 64% downside from the current price of $110 [10] Group 2: Upstart Holdings - Upstart provides an AI lending platform that automates credit decisions, considering over 2,500 variables compared to the traditional FICO score [8][9] - The company reported a 67% increase in revenue to $2.1 billion, with positive non-GAAP earnings of $0.30 per diluted share, up from a loss in the same quarter last year [11] - Analysts have set a target price of $15 per share for Upstart, implying a 67% downside from its current price of $46 [10] - The outlook for Upstart is mixed, with potential growth due to expected Federal Reserve rate cuts, but also risks from economic uncertainty and tariffs [13][14]