Upstart Holdings Inc (NASDAQ:UPST) reported second-quarter financial results after the market close on Tuesday. Shares are facing significant selling pressure after hours. Here’s what you need to know from the report.
UPST stock is down in today’s after-hours session. See real-time price here.
Q2 Earnings: Upstart reported second-quarter revenue of $257 million, beating analyst estimates of $225.28 million. The company reported second-quarter adjusted earnings of 36 cents per share, beating estimates of 26 cents per share, according to Benzinga Pro.
Total revenue was up 102% year-over-year in the second quarter. The company originated 372,599 loans during the period, up 159% year-over-year.
Upstart ended the quarter with $788.42 million in cash and cash equivalents.
“A year ago, you saw the first signs that Upstart was returning to growth mode — and today you can see it in full bloom,” said Dave Girouard, co-founder and CEO of Upstart.
“In addition to achieving triple-digit revenue growth, we reached GAAP profitability a quarter sooner than expected and our newer businesses actually accelerated off their amazing growth in the first quarter.”
Outlook: Upstart expects third-quarter revenue of approximately $280 million versus estimates of $267.47 million. The company also raised its full-year 2025 revenue guidance from $1.01 billion to $1.055 billion versus estimates of $1.01 billion.
UPST Price Action: Upstart shares were down 8.75% in after-hours, trading at $75.20 at the time of publication on Tuesday, according to Benzinga Pro.
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