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Dec 31, 2020
Upstart Q4 2020 Earnings Report
Upstart demonstrated strong financial performance in Q4 2020, achieving significant revenue growth and profitability despite the COVID-19 pandemic.
Key Takeaways
Upstart announced its Q4 and Fiscal Year 2020 results, reporting a 39% year-over-year increase in total revenue to $86.7 million for Q4. Bank partners originated 123,396 loans, up 57% year-over-year, with a conversion rate of 17.4%. Income from operations increased by 196% to $10.4 million. GAAP net income was $1.0 million, and adjusted net income was $5.4 million.
Total revenue increased by 39% year-over-year to $86.7 million.
Bank partners originated 123,396 loans, a 57% increase year-over-year.
Conversion rate on rate requests improved to 17.4% from 14.9% in the prior year.
Income from operations grew by 196% year-over-year to $10.4 million.
Revenue by Segment
Forward Guidance
For the first quarter of 2021, Upstart expects revenue of $112 to $118 million, a contribution margin of approximately 44%, net income of $7.8 to $8.3 million, adjusted net income of $13.4 to $14.2 million, and adjusted EBITDA of $14.6 to $15.3 million.
Positive Outlook
- Revenue of $112 to $118 million
- Contribution Margin of approximately 44%
- Net Income of $7.8 to $8.3 million
- Adjusted Net Income of $13.4 to $14.2 million
- Adjusted EBITDA of $14.6 to $15.3 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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