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Dec 31, 2023
Upstart Q4 2023 Earnings Report
Upstart's Q4 2023 financial performance reflected resilience amidst a challenging lending environment, with increased efficiency and groundwork laid for diversification.
Key Takeaways
Upstart's Q4 2023 total revenue reached $140 million, a 4% decrease year-over-year but a 4% increase sequentially. The company originated 129,664 loans totaling $1.3 billion. GAAP net loss was $(42.4) million, while adjusted EBITDA was $0.6 million.
Total revenue was $140 million, down 4% year-over-year.
129,664 loans were originated, totaling $1.3 billion, a 19% decrease year-over-year.
GAAP net loss was $(42.4) million, an improvement from $(55.3) million in the prior year.
Adjusted EBITDA was $0.6 million, up from $(16.6) million year-over-year.
Revenue by Segment
Forward Guidance
For the first quarter of 2024, Upstart expects revenue of approximately $125 million, a contribution margin of approximately 61%, a net loss of approximately $(75) million, an adjusted net loss of approximately $(33) million, and adjusted EBITDA of approximately $(25) million.
Positive Outlook
- Revenue of approximately $125 million
- Revenue From Fees of approximately $133 million
- Contribution Margin of approximately 61%
- Basic Weighted-Average Share Count of approximately 87.0 million shares
- Diluted Weighted-Average Share Count of approximately 87.0 million shares
Challenges Ahead
- Net Interest Income (Loss) of approximately $(8) million
- Net Income (Loss) of approximately $(75) million
- Adjusted Net Income (Loss) of approximately $(33) million
- Adjusted EBITDA of approximately $(25) million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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