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Sep 30, 2022
Upstart Q3 2022 Earnings Report
Upstart's Q3 2022 performance reflected a decrease in revenue and a net loss, impacted by macroeconomic challenges.
Key Takeaways
Upstart's Q3 2022 results revealed a 31% decrease in total revenue compared to Q3 2021, with a loss from operations of ($58.1) million. The company originated 188,519 loans totaling $1.9 billion, a 48% decrease year-over-year. Despite these challenges, Upstart repurchased 931 thousand shares for approximately $25 million.
Total revenue decreased by 31% to $157 million compared to the third quarter of 2021.
Bank partners originated 188,519 loans, totaling $1.9 billion, down 48% from the same quarter of the prior year.
GAAP net loss was ($56.2) million, a decrease from a net income of $29.1 million in the third quarter of 2021.
Upstart repurchased 931 thousand shares of UPST totaling approximately $25 million.
Revenue by Segment
Forward Guidance
For the fourth quarter of 2022, Upstart expects revenue between $125 to $145 million, a contribution margin of approximately 54%, and a net loss of approximately ($87) million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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