Upstart Holdings (UPST) Tops Q1 EPS by 6c, Guidance Misses Consensus

Upstart Holdings (NASDAQ: UPST) reported Q1 EPS of ($0.31), $0.06 better than the analyst estimate of ($0.37). Revenue for the quarter came in at $128 million versus the consensus estimate of $125.09 million.

GUIDANCE:

Upstart Holdings sees Q2 2024 revenue of $125 million, versus the consensus of $141 million.

Financial Outlook

• For the second quarter of 2024, Upstart expects:
• •Revenue of approximately $125 million
• ◦Revenue From Fees of approximately $135 million
• ◦Net Interest Income (Loss) of approximately $(10) million
• •Contribution Margin of approximately 56%
• •Net Income (Loss) of approximately $(75) million
• •Adjusted Net Income (Loss) of approximately $(36) million
• •Adjusted EBITDA of approximately $(25) million
• •Basic Weighted-Average Share Count of approximately 88.4 million shares
• •Diluted Weighted-Average Share Count of approximately 88.4 million shares

For the second half of 2024, Upstart expects:

• •Revenue from fees of approximately $300 million, and
• •Positive EBITDA in the fourth quarter
• Upstart has not reconciled the forward-looking non-GAAP measures above to comparable forward-looking GAAP measures because of the potential variability and uncertainty of incurring these costs and expenses in the future. Accordingly, a reconciliation is not available without unreasonable effort.
  

For earnings history and earnings-related data on Upstart Holdings (UPST) click here.

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