Upstart Announces Results for First Quarter 2025

About this update from Upstart Holdings, Inc.

[{"type":"text","content":" SAN MATEO, Calif.--(BUSINESS WIRE)--\nUpstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today announced financial results for the quarter ended March 31, 2025. Upstart will host a conference call and webcast at 1:30 p.m. Pacific Time today. An earnings presentation and link to the webcast are available at ir.upstart.com.\n\n“With an unparalleled pace of innovation, we continue to raise the bar in AI-enabled lending,” said Dave Girouard, Co-founder and CEO of Upstart. “In this foundational aspect of our economy, AI is clearly living up to its promise of delivering a radically better product for consumers.”\n\nFirst Quarter 2025 Highlights\n\n\nTransaction Volume: 240,706 loans originated, up 102% year-over-year (\"YoY\") reflecting a 19.1% Conversion Rate, up from 14.0% in Q1 2024. Total originations exceeded $2.1 billion, up 89% YoY.\n\n\nTotal Revenue: $213 million, up 67% YoY. Revenue from fees was $185 million, up 34% YoY.\n\n\nGAAP Loss from Operations: ($4.5) million, an improvement from ($67.5) million in Q1 2024.\n\n\nGAAP Net Loss: ($2.4) million, an improvement from ($64.6) million in Q1 2024.\n\n\nContribution Profit: $102 million, up 26% YoY. Contribution Margin was 55%, down from 59% YoY.\n\n\nAdjusted EBITDA: was $42.6 million, up from ($20.3) million in Q1 2024. Adjusted EBITDA Margin was 20%, up from (16%) in Q1 2024.\n\n\nFinancial Outlook\n\nFor the second quarter of 2025, Upstart expects:\n\n\nRevenue of approximately $225 million\n\n\nRevenue From Fees of approximately $210 million\n\n\nNet Interest Income (Loss) of approximately $15 million\n\n\n\n\nContribution Margin of approximately 55%\n\n\nGAAP Net Income (Loss) of approximately ($10) million\n\n\nAdjusted Net Income (Loss) of approximately $25 million\n\n\nAdjusted EBITDA of approximately $37 million\n\n\nBasic Weighted-Average Share Count of approximately 96 million shares\n\n\nDiluted Weighted-Average Share Count of approximately 104 million shares\n\n\nFor full-year 2025, Upstart now expects:\n\n\nRevenue of approximately $1.01 billion\n\n\nRevenue From Fees of approximately $920 million\n\n\nNet Interest Income (Loss) of approximately $90 million\n\n\n\n\nGAAP Net Income to be positive in the second half of the year and positive for the full calendar year\n\n\nAdjusted EBITDA Margin of approximatel...

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