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Dec 31, 2024
Upstart Q4 2024 Earnings Report
Key Takeaways
Upstart reported strong revenue growth in Q4 2024, with a 56% YoY increase in total revenue and a significant reduction in net loss. Adjusted net income turned positive at $29.9 million, while operating losses narrowed substantially. The company achieved its highest adjusted EBITDA since Q1 2022 and improved its conversion rate to 19.3%.
Revenue by Segment
Forward Guidance
Upstart expects revenue of approximately $200 million in Q1 2025, with an adjusted net income of $16 million and an adjusted EBITDA of $27 million. For the full year 2025, revenue is projected to reach $1 billion, with a positive GAAP net income.
Positive Outlook
- Projected revenue of $1 billion for FY 2025
- Expected return to GAAP profitability in 2025
- Q1 2025 adjusted EBITDA forecasted at $27 million
- Revenue from fees projected at $920 million in FY 2025
- Improved contribution margin expected at 57% in Q1 2025
Challenges Ahead
- Q1 2025 GAAP net loss expected at $20 million
- Operating margin improvements still needed
- Higher interest costs could impact profitability
- Competitive pressures in AI lending remain a challenge
Historical Earnings Impact
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Avg. Return Before/After Earnings
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