Upstart Holdings Sees Q1 Revenue ~$125M Vs $151.2M Est.
Portfolio Pulse from Benzinga Newsdesk
Upstart Holdings projects Q1 revenue of approximately $125 million, falling short of the estimated $151.2 million. The company anticipates a net loss of around $75 million and an adjusted net loss of about $33 million. Other financial outlooks include a contribution margin of 61%, adjusted EBITDA of approximately -$25 million, and both basic and diluted weighted-average share counts at 87.0 million shares. Upstart has not provided a reconciliation of its forward-looking non-GAAP measures to GAAP measures due to potential variability.
February 13, 2024 | 9:23 pm
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Upstart Holdings projects lower-than-expected Q1 revenue at ~$125M vs. $151.2M estimate, with significant net losses and a contribution margin of 61%.
The projected revenue shortfall and significant net loss for Upstart Holdings in Q1 are likely to negatively impact investor sentiment and the stock price in the short term. The detailed financial outlook, including a high contribution margin, does not offset the negative impact of lower revenue and high losses.
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