UPST Q4 2023

Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2023

Earnings

Upstart delivered a revenue beat in Q1 2026, posting $308.21 million against the $303.40 million consensus estimate, a 1.59% positive surprise, as the AI lending marketplace continued its rapid expansion with revenue climbing 39.9% year over year. Th… Read more Upstart delivered a revenue beat in Q1 2026, posting $308.21 million against the $303.40 million consensus estimate, a 1.59% positive surprise, as the AI lending marketplace continued its rapid expansion with revenue climbing 39.9% year over year. The primary engine behind that acceleration was fee revenue, which surged 49% to $277.06 million, fueled by origination volume of roughly $3.45 billion across more than 425,000 transactions. The bottom line, however, told a more complicated story; the company reported a GAAP net loss of $6.65 million, or $0.07 per diluted share, well short of the $0.43 consensus EPS estimate, as aggressive investment in sales, marketing, and engineering drove total operating expenses to $315.73 million. Adjusted EBITDA slipped to $40.47 million with margins compressing to 13% from 20% a year ago, reflecting a deliberate growth-first posture. A pending securities class action related to an earlier AI model controversy adds an overhang even as Upstart maintained its full-year 2026 revenue outlook of approximately $1.40 billion and adjusted EBITDA of approximately $294 million.