UPST
Upstart Holdings, Inc.46.91
+0.86+1.87%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
4.56BP/E (TTM)
180.42Basic EPS (TTM)
0.26Dividend Yield
0%Recent Filings
10-Q
8-K
8-K
Upstart issues $690M zero-coupon notes
Upstart Holdings issued $690 million in 0% convertible senior notes due 2032 on August 14, 2025, netting $675.5 million after expenses. The company allocated $55.2 million to capped call transactions curbing dilution up to $126.92 per share, while deploying $224.4 million to repurchase $232.6 million of its 2026 notes, freeing capital for general purposes. Yet dilution looms if stock surges beyond the cap.
10-Q
Q2 FY2025 results
Upstart Holdings swung to a Q2 profit, posting $5.6M net income versus a $54.5M loss a year earlier, as revenue from fees, net, more than doubled to $240.8M on 154% y/y growth in transaction volume to $2.8B. Total revenue hit $257.3M, up 102% y/y, with interest income, interest expense, and fair value adjustments, net, flipping to a $16.5M gain from a $2.9M loss, thanks to milder fair value hits on loans and beneficial interests. Operating income turned positive at $4.5M after a $55.5M loss, though sales and marketing costs jumped 122% y/y to $73.1M amid higher borrower acquisition spend. Diluted EPS of $0.05 reconciles to 102.9M shares, reflecting anti-dilution from convertible notes. Cash and equivalents fell to $395.9M from $788.4M at year-end, with $1.4B in total borrowings including $1.2B in convertible notes maturing 2026-2030; free cash flow not disclosed in the 10-Q. No material M&A or regulatory events noted. Ongoing securities litigation poses a balanced risk of potential financial and reputational harm.
8-K
Upstart surges to profitability
Upstart Holdings crushed Q2 2025 with $257 million in revenue, up 102% year-over-year, fueled by 372,599 loans totaling $2.8 billion in originations—a 159% surge. The company flipped to GAAP profitability at $5.6 million net income, while conversion rates jumped to 23.9%. Growth roared back. Yet macroeconomic risks like interest rate shifts loom large in their outlook.
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