Upstart Q1 Earnings: Revenue Beat, EPS Beat, Targeting Positive EBITDA In 2024 And More
Portfolio Pulse from Adam Eckert
Upstart Holdings Inc (NASDAQ:UPST) reported Q1 earnings with revenue of $128 million, surpassing estimates and achieving a 24% year-over-year increase but a 9% sequential decrease. The company beat EPS estimates with an adjusted loss of 31 cents per share. Loan originations rose 13% year-over-year to 119,380, totaling $1.1 billion. Upstart anticipates sequential growth in H2 and positive EBITDA by year-end. Q2 revenue is expected to be around $125 million, below estimates, with a projected adjusted EBITDA loss of $25 million.
May 07, 2024 | 8:27 pm
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Upstart Holdings Inc reported a strong Q1 with revenue and EPS beating estimates, and projects positive EBITDA by year-end despite a cautious Q2 outlook.
Upstart's Q1 performance, with revenue and EPS beating estimates, indicates operational efficiency and potential for growth, positively impacting investor sentiment. The cautious Q2 outlook may temper immediate gains, but the commitment to achieving positive EBITDA by year-end supports a positive short-term impact.
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