Published on 7 May 2024 on GuruFocus.com via Yahoo Finance
Upstart Holdings Inc (UPST) Q1 2024 Earnings: Revenue Surpasses Expectations Despite Continued ...
Revenue: Reported at $128 million for Q1 2024, marking a 24% increase year-over-year, surpassing the estimate of $124.87 million.Net Loss: Stood at $(64.6) million, showing improvement from $(129.3) million in the prior year's quarter, but fell short of the estimated $(33.39) million.Earnings Per Share (EPS): Recorded at $(0.74), which did not meet the estimated $(0.39).Transaction Volume: Loan originations totaled $1.1 billion, up 13% from the previous year, with a conversion rate improvement from 8% to 14%.Contribution Profit: Increased to $81.1 million, up 20% year-over-year, with a contribution margin improving to 59%.Adjusted EBITDA: Improved to $(20.3) million from $(31.1) million in the same quarter of the prior year, reflecting better operational efficiency.Financial Outlook: Expects revenue of approximately $125 million and a net loss of approximately $(75) million for Q2 2024.
Warning! GuruFocus has detected 4 Warning Signs with UPST.