Upstart Holdings Inc (UPST)

Upstart Streamlines UMI ReportingJuly 8, 2026 4:05 PM
Business Wire July 8, 2026 UMI: 1.49 Upstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today announced changes to how and when it publishes its Upstart Macro Index (UMI), along with the latest UMI reading. These changes are intended to make the index easier to interpret. There is no change to how UMI is calculated or used by Upstart.1 How UMI naming and reporting is changing Until today, Upstart introduced one new UMI reading each month, named for the month of loan payments it described. For example, the “May UMI,” published on June 25, 2026, reflected the likelihood that Upstart-powered personal loan payments due in May 2026 would eventually be repaid. Upstart then updated that monthly UMI value, along with the full historical series, each subsequent week as additional payment data came in. Going forward, Upstart will still introduce one new UMI reading each month, but with a new naming convention and on a slightly modified timeline. Once published, a reading won't be updated, except to fix an error or to reflect a major upgrade to the UMI model. Key updates include: Naming convention: Each new UMI reading will now be named based on the date it is published, rather than for the month of loan payments it describes. Like before, the initial reading reflects Upstart's best estimate of macro-driven default risk based on all of the payment data available shortly before the UMI’s publication date. However, we will no longer subsequently update that reading with payment data that comes after the UMI’s named date. The new naming convention makes clear how recent the underlying data is, and roughly when that risk level starts factoring into Upstart’s underwriting. For example, today’s release – the “July 8, 2026 UMI” – reflects payment data through July 2, 2026, and is approximately when that risk level became relevant to Upstart’s underwriting decisions. Publication timeline: Upstart will begin publishing its latest UMI reading together with its monthly origination metrics. This will typically occur before the stock market opens on the third calendar day after each origination month ends; if that date falls on a weekend or federal holiday, Upstart intends to publish pre-market on the following business day. Historical data: Upstart has revised its historical UMI data series to match the new naming convention as closely as possible, so it remains useful for comparing macroeconomic risk over time.2 Upstart regularly recalibrates its underwriting model based on its latest read of macroeconomic conditions, and the published UMI is a close proxy for that read. Each new UMI reading is meant to give investors and capital partners a view into two things: (1) the macroeconomic risk assumptions currently factored into the pricing and approval of new loans, and (2) a directional sense of how Upstart's existing loans are performing — which depends largely on the actual risk level assumed when those loans were originally underwritten. July 8, 2026 UMI The current UMI is 1.49, which represents a 2% increase relative to 1.46 as of June 3, 2026. This means Upstart's models estimate that macroeconomic conditions are contributing slightly more default risk than they were in early June. For reference, a UMI of 1.49 is approximately 49% above what Upstart would expect in a normal economy (a UMI of 1.0), up from about 46% above normal in the prior reading. UMI has remained above 1.0 since February 2022, reflecting a sustained period of elevated default risk relative to Upstart's long-run baseline, but remains below the series' peak of 1.68, reached in January 2024. CEO Q&A on X About UMI Changes Paul Gu, Co-Founder and CEO of Upstart, will host a live question-and-answer session directly via his personal account on X (@paulxgu) tomorrow morning, Thursday, July 9 at 8:00am ET / 5:00am PT to answer questions related to this announcement. Submit questions by replying to Paul Gu’s event announcement thread on X. About Upstart Upstart (NASDAQ: UPST) is the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions that leverage Upstart’s AI models and cloud applications to deliver superior credit products. With Upstart AI, lenders can approve more borrowers at lower rates while delivering the exceptional digital-first experience customers demand. More than 90% of loans are fully automated, with no human intervention by Upstart. Founded in 2012, Upstart’s platform includes personal loans, automotive loans, home equity lines of credit, and Upstart’s new Cash Line product, a revolving line of credit. Upstart is based in Burlingame, California. Legal Disclaimer Past UMI performance can provide no assurance and is not indicative of future UMI results. UMI is based on historical data and Upstart’s analysis of the losses within Upstart-powered loan portfolios and is specific to Upstart’s borrower base. UMI is not intended to measure the macroeconomic risks in terms of losses of loan portfolios or asset classes that are not Upstart-powered loans, including loans held by other segments of the U.S. population. It is not designed to measure the current state of the overall economy or to measure or predict future macroeconomic conditions, trends or risks. While UMI may provide a directional sense of how Upstart's existing loans are performing, it is also not designed to measure or predict the future performance of Upstart-powered loans or of Upstart’s other products, overall financial results of operations or stock price. We expect that our research and development efforts to improve UMI could result in changes or revisions to current or past UMI values or to our UMI methodology in the future. All forward-looking statements or information in this press release are subject to risks and uncertainties that may cause actual results to differ materially from those that Upstart expected. Any forward-looking statements or information are only as of the date hereof. Upstart undertakes no obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise. More information about these risks and uncertainties is provided in Upstart’s public filings with the Securities and Exchange Commission, copies of which may be obtained by visiting Upstart’s investor relations website at www.upstart.com or the SEC’s website at www.sec.gov. 1 UMI is a simplified representation, using personal loan data, of the full suite of models and techniques Upstart has developed for assessing macroeconomic risk in lending. These may be used to different extents in the underwriting of each loan product, with personal loans generally using them most fully. 2 For ease of comparability, historical data are labeled as published on the third calendar day of each month, regardless of their original publication date. View source version on businesswire.com: https://www.businesswire.com/news/home/20260708376393/en/ Investors
Sonya Banerjee
ir@upstart.com Press
Eric Smith
press@upstart.com Original: Upstart Streamlines UMI Reporting

Upstart to Announce Second Quarter 2026 Results on August 4, 2026July 6, 2026 5:23 PM
Business Wire Upstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, will hold a conference call to discuss its second quarter 2026 financial results on Tuesday, August 4, 2026, at 1:30 p.m. PT / 4:30 p.m. ET. The company’s earnings press release and investor presentation will be available on its investor relations website at ir.upstart.com after the market closes that day. Live webcast. The live webcast and a replay will be available on Upstart’s investor relations website. Conference Call Dial-In. To access the live conference call in the United States and Canada: 800-330-6710, conference code 7744842. To access the live conference call outside of the United States and Canada: +1 312-471-1353, conference code 7744842. About Upstart Upstart (NASDAQ: UPST) is the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions that leverage Upstart’s AI models and cloud applications to deliver superior credit products. With Upstart AI, lenders can approve more borrowers at lower rates while delivering the exceptional digital-first experience customers demand. More than 90% of loans are fully automated, with no human intervention by Upstart. Founded in 2012, Upstart’s platform includes personal loans, automotive loans, home equity lines of credit, and Upstart’s new Cash Line product, a revolving line of credit. Upstart is based in Burlingame, California. View source version on businesswire.com: https://www.businesswire.com/news/home/20260706497217/en/ Investors
Sonya Banerjee
ir@upstart.com Press
Eric Smith
press@upstart.com Original: Upstart to Announce Second Quarter 2026 Results on August 4, 2026

Upstart Publishes June 2026 Origination VolumeJuly 6, 2026 7:49 AM
Business Wire Upstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today published its monthly origination volume for June 2026. For historical data see upstart.com/volume. Period Originations Origination days Originations, Dollars per day June 2026 $1,500.1M 27.1 $55.5M Q2’2026
(April-June) $4,227.2M 78.4 $53.9M About Upstart Origination Volume “Originations” refers to Transaction Volume, Dollars, one of the key operating metrics Upstart reports in its quarterly and annual SEC filings. Transaction Volume, Dollars is defined as the total principal amount of loan originations (or committed amounts for HELOCs) facilitated through Upstart’s marketplace during the periods presented. “Origination days” represent the effective number of funding days in a month, based on a 24-hour funding window starting and ending at approximately 5:00 p.m. eastern time. Each business day counts as 1.0 day in Upstart’s calculation. Weekend days and bank holidays are weighted at 0.55 days to reflect lower application activity and are rolled forward to the next business day, when those loans are typically funded. If month-end falls on a weekend or bank holiday, originations from that period are attributed to the following month. “Originations, Dollars per day” is calculated as total “Originations” divided by the number of “Origination days” in the applicable period. About Upstart Upstart (NASDAQ: UPST) is the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions that leverage Upstart’s AI models and cloud applications to deliver superior credit products. With Upstart AI, lenders can approve more borrowers at lower rates while delivering the exceptional digital-first experience customers demand. More than 90% of loans are fully automated, with no human intervention by Upstart. Founded in 2012, Upstart’s platform includes personal loans, automotive retail loans, home equity lines of credit, and Upstart’s new Cash Line product, a revolving line of credit. Upstart is based in Burlingame, California. Legal Disclaimer The Originations and Originations, Dollars per day data (“Originations Data”) provided on this page are unaudited, preliminary, and subject to completion of our financial closing procedures in connection with our quarterly financial results as reported in our filings with the Securities and Exchange Commission (“SEC”), which are also available on our Investor Relations website. While Originations Data have historically been the largest predictor of our total revenue, this historical correlation is not a guaranteed indicator for future final results. The Originations Data are presented without commentary and should be read together with our quarterly and annual financial results and our filings with the SEC. We intend to release monthly Originations Data for the prior month on the third calendar day following each month. However, if this falls on a weekend or federal holiday, we intend to publish pre-market on the following business day. All forward-looking statements or information in this press release are subject to risks and uncertainties that may cause actual results to differ materially from those that Upstart expected. Any forward-looking statements or information are only as of the date hereof. Upstart undertakes no obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise. More information about these risks and uncertainties is provided in Upstart’s public filings with the Securities and Exchange Commission, copies of which may be obtained by visiting Upstart’s investor relations website at www.upstart.com or the SEC’s website at www.sec.gov. View source version on businesswire.com: https://www.businesswire.com/news/home/20260706221136/en/ Investors
Sonya Banerjee
ir@upstart.com Press
Eric Smith
press@upstart.com Original: Upstart Publishes June 2026 Origination Volume

Upstart Publishes May 2026 UMIJune 25, 2026 6:03 PM
Business WireUpstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today updated the Upstart Macro Index (UMI) to include May 2026 data. For historical data and information about how the index is calculated, see upstart.com/umi.UMI rose to 1.49 in May from 1.43 in April and remains below the elevated levels observed in early 2024.While UMI is derived from Upstart-powered unsecured personal loans, broader macroeconomic trends can help contextualize recent movements in the index. The personal savings rate was 3.0% in May, flat with the level in April as an increase in disposable personal income (+0.7%) was offset by an uptick in consumer spending (+0.7%). The unemployment rate was 4.3% in May, flat with the prior two months.Revisions to UMI are posted weekly. Since our last monthly data release on May 28, 2026, UMI has been revised as follows:April revised from 1.46 to 1.43March revised from 1.37 to 1.38February remained at 1.35About the UMIThe UMI estimates the impact of the macroeconomy on credit losses for Upstart-powered unsecured personal loans. UMI is expressed as a multiple of defaults relative to a static baseline due to macroeconomic changes. For example, a UMI of 1.25 for a given month suggests that the macro caused default rates to be 25% higher than the long-run average.Because Upstart’s risk models are regularly recalibrated to changing macroeconomic conditions, a UMI above 1.0 does not imply that loans are underperforming - and a UMI below 1.0 does not imply that loans are overperforming. Instead, Upstart’s risk models are regularly adjusted to conservatively account for the most recent trend in UMI. This calibration adjusts the loss assumptions and thereby the interest rates and approval rates for new loan originations on our marketplace.While we are not able to accurately forecast future macroeconomic conditions, UMI is designed to provide timely insights into how today’s macroeconomic environment impacts Upstart-powered loan portfolios. See upstart.com/umi for more information.About UpstartUpstart (NASDAQ: UPST) is the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions that leverage Upstart’s AI models and cloud applications to deliver superior credit products. With Upstart AI, lenders can approve more borrowers at lower rates while delivering the exceptional digital-first experience customers demand. More than 90% of loans are fully automated, with no human intervention by Upstart. Founded in 2012, Upstart’s platform includes personal loans, automotive retail loans, home equity lines of credit, and Upstart’s new Cash Line product, a revolving line of credit. Upstart is based in Burlingame, California.Legal DisclaimerPast UMI performance can provide no assurance and is not indicative of future UMI results. UMI is based on historical data and Upstart’s analysis of the losses within Upstart-powered loan portfolios and is specific to Upstart’s borrower base. UMI is not intended to measure the macroeconomic risks in terms of losses of loan portfolios or asset classes that are not Upstart-powered loans, including loans held by other segments of the U.S. population. It is not designed to measure the current state of the overall economy or to measure or predict future macroeconomic conditions, trends or risks. It is also not designed to measure or predict the future performance of Upstart-powered loans or of Upstart’s other products, overall financial results of operations or stock price. We expect that our research and development efforts to improve UMI could result in changes or revisions to current or past UMI values.All forward-looking statements or information in this press release are subject to risks and uncertainties that may cause actual results to differ materially from those that Upstart expected. Any forward-looking statements or information are only as of the date hereof. Upstart undertakes no obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise. More information about these risks and uncertainties is provided in Upstart’s public filings with the Securities and Exchange Commission, copies of which may be obtained by visiting Upstart’s investor relations website at www.upstart.com or the SEC’s website at www.sec.gov.View source version on businesswire.com: https://www.businesswire.com/news/home/20260625795014/en/Investors
Sonya Banerjee
ir@upstart.comPress
Eric Smith
press@upstart.com Original: Upstart Publishes May 2026 UMI

Upstart Holdings, Inc. Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights - UPSTJune 8, 2026 1:15 AM
PR Newswire (US) LOS ANGELES, June 8, 2026 /PRNewswire/ -- The DJS Law Group reminds investors of a class action lawsuit against Upstart Holdings, Inc. ("Upstart" or "the Company") (NASDAQ: UPST) for for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.Shareholders who purchased shares of UPST during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointments. Appointment as lead plaintiff is not required to partake in any recovery.CLASS PERIOD: May 14, 2025 to November 4, 2025DEADLINE: June 8, 2026CASE DETAILS: According to the Complaint, the Company made false and misleading statements to the market. Upstart overstated the accuracy of its "Model 22" AI. The AI's poor decision making impacted the Company's financial results. Based on these facts, Upstart's public statements were false and materially misleading throughout the class period.If you are a shareholder who suffered a loss, contact us to participate.WHY DJS LAW GROUP? DJS Law Group's primary focus is to enhance investor return through balanced counseling and aggressive advocacy. We specialize in securities class actions, corporate governance litigation, and domestic/international M&A appraisals. Our clients are some of the largest and most sophisticated hedge funds and alternative asset managers in the world. The litigation claims of our clients are extraordinarily valuable assets that demand respect, focus, and results.Join the case to recover your losses.This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.CONTACT:
David J. Schwartz
DJS Law Group
274 White Plains Road, Suite 1
Eastchester, NY 10709
Phone: 914-206-9742
Email: David@djslawllp.com View original content:https://www.prnewswire.com/news-releases/upstart-holdings-inc-sued-for-securities-law-violations---contact-the-djs-law-group-to-discuss-your-rights--upst-302793542.htmlSOURCE DJS Law Group LLP Original: Upstart Holdings, Inc. Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights - UPST

Upstart Holdings, Inc. Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights - UPSTJune 5, 2026 3:35 AM
PR Newswire (US) LOS ANGELES, June 5, 2026 /PRNewswire/ -- The DJS Law Group reminds investors of a class action lawsuit against Upstart Holdings, Inc. ("Upstart" or "the Company") (NASDAQ: UPST) for for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.Shareholders who purchased shares of UPST during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointments. Appointment as lead plaintiff is not required to partake in any recovery.CLASS PERIOD: May 14, 2025 to November 4, 2025DEADLINE: June 8, 2026CASE DETAILS: According to the Complaint, the Company made false and misleading statements to the market. Upstart overstated the accuracy of its "Model 22" AI. The AI's poor decision making impacted the Company's financial results. Based on these facts, Upstart's public statements were false and materially misleading throughout the class period.If you are a shareholder who suffered a loss, contact us to participate.WHY DJS LAW GROUP? DJS Law Group's primary focus is to enhance investor return through balanced counseling and aggressive advocacy. We specialize in securities class actions, corporate governance litigation, and domestic/international M&A appraisals. Our clients are some of the largest and most sophisticated hedge funds and alternative asset managers in the world. The litigation claims of our clients are extraordinarily valuable assets that demand respect, focus, and results.Join the case to recover your losses.This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.CONTACT:David J. SchwartzDJS Law Group274 White Plains Road, Suite 1 Eastchester, NY 10709Phone: 914-206-9742Email: David@djslawllp.com View original content:https://www.prnewswire.com/news-releases/upstart-holdings-inc-sued-for-securities-law-violations---contact-the-djs-law-group-to-discuss-your-rights--upst-302792222.htmlSOURCE DJS Law Group LLP Original: Upstart Holdings, Inc. Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights - UPST

UPST Investor Alert: Upstart Holdings Securities Fraud Lawsuit - Investors With Losses May Seek to Lead the Class Action After CTO Allegedly Oversaw Flawed Model: SueWallStJune 4, 2026 5:45 PM
PR Newswire (US) Executive Accountability: Paul Gu Named in Securities ActionNEW YORK, June 4, 2026 /PRNewswire/ -- SueWallSt notifies investors that Paul Gu, Co-founder and Chief Technology Officer of Upstart Holdings, Inc. (NASDAQ: UPST), is named as a defendant in a securities class action covering purchases between May 14, 2025 and November 4, 2025. Find out if you can recover losses tied to executive misconduct. You may also contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com or (888) SueWallSt. Upstart shareholders lost $4.49 per share, a 9.71% decline, after the Company revealed that its flagship AI underwriting system suffered from a tendency to overreact to negative macroeconomic signals, which executives allegedly knew about but did not disclose.Paul Gu's Role During the Class PeriodThe complaint highlighted Gu as a source of pertinent disclosures regarding Model 22, Upstart's AI underwriting engine launched in early May 2025. As CTO and Co-founder, Gu admitted knowledge of decisions regarding the model's calibration and its tendency to "be a little overresponsive." He is also a member of the Board of Directors and has been designated as Upstart's next CEO effective May 1, 2026.During the Class Period, the action claims Gu sold 5,000 shares of Upstart stock, generating proceeds exceeding $344,000.What Paul Gu Allegedly OversawThe securities action contends that Gu had direct responsibility over the AI system that was later revealed to be "overly responsive" to macroeconomic signals and plagued by "sampling and measurement error." Specifically, the complaint identifies the following:On August 5, 2025, Gu described Model 22's neural network architecture as finding "many, many small subtle relationships in the data" that drove higher approval ratesOn November 4, 2025, Gu admitted the model "can be a little overly responsive to the latest changes" and that "there's always some kind of sampling and measurement error"Gu acknowledged that executives were "knowingly making a choice with our model to be a little bit more conservative on the credit side in earlier parts of the quarter"Gu conceded measurement error had to be reduced "by about half" to prevent future conversion rate volatilityPaul Gu's Certifications and LiabilityAs the officer with direct technical oversight of Upstart's core AI product, Gu is alleged to have possessed detailed knowledge of Model 22's behavior, limitations, and impact on financial results. The complaint asserts that Gu's public statements touting the model's accuracy were materially misleading given what he later admitted about its overresponsiveness and inherent measurement errors."Individual officers who sign SEC certifications bear personal responsibility for the accuracy of corporate disclosures. When the executive most responsible for a company's core technology publicly touts its capabilities while allegedly aware of fundamental calibration issues, investors deserve accountability," stated Joseph E. Levi, Esq.Section 20(a) Context for Paul GuThe complaint brings claims under Section 20(a) of the Securities Exchange Act of 1934, which imposes liability on individuals who act as "controlling persons" of a company that violates federal securities laws. As CTO, Co-founder, and Board member with direct authority over the AI models central to every aspect of Upstart's business, the action contends Gu had the power and authority to control the content of the Company's public statements regarding Model 22's performance.LEAD PLAINTIFF DEADLINE: June 8, 2026Speak with an attorney about executive liability claims in the Upstart action or call Joseph E. Levi, Esq. at (888) SueWallSt.SueWallSt, Top 50 securities litigation firm (ISS, seven consecutive years). Over 70 professionals. Hundreds of millions recovered for investors.Frequently Asked Questions About the UPST LawsuitQ: Who are the defendants named in the UPST lawsuit? A: The complaint names Upstart Holdings, Inc. and individual defendants including CEO Dave Girouard, CFO Sanjay Datta, CTO Paul Gu, and CMO Chantal Rapport, who signed SEC filings, made public statements, or certified financial disclosures under Sarbanes-Oxley.Q: What specific misstatements does the UPST lawsuit allege? A: The complaint alleges Upstart made materially false or misleading statements regarding the accuracy and performance of its AI underwriting model, Model 22, and its positive impact on loan approval rates, conversion rates, and revenue growth. When the model's overresponsiveness was revealed on November 4, 2025, the stock price declined sharply.Q: What do UPST investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact SueWallSt for a free, no-obligation evaluation at jlevi@SueWallSt.com or (888) SueWallSt. No immediate action is required to remain eligible as a class member.Q: What if I already sold my UPST shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. You submit a claim form to receive your portion of recovery.Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.Q: Can I join a different law firm's lawsuit instead? A: Multiple firms often file competing complaints. The court consolidates and appoints a single lead counsel. Contacting SueWallSt before June 8, 2026 ensures your losses are considered.CONTACT:
SueWallSt
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi @Icons1 View original content to download multimedia:https://www.prnewswire.com/news-releases/upst-investor-alert-upstart-holdings-securities-fraud-lawsuit---investors-with-losses-may-seek-to-lead-the-class-action-after-cto-allegedly-oversaw-flawed-model-suewallst-302792073.htmlSOURCE SueWallSt.com Original: UPST Investor Alert: Upstart Holdings Securities Fraud Lawsuit - Investors With Losses May Seek to Lead the Class Action After CTO Allegedly Oversaw Flawed Model: SueWallSt

Upstart Publishes May 2026 Origination VolumeJune 3, 2026 7:55 AM
Business Wire Upstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today published its monthly origination volume for May 2026. For historical data see upstart.com/volume. Month Originations Origination days Originations, Dollars per day May 2026 $1,453.3M 25.0 $58.2M About Upstart Origination Volume “Originations” refers to Transaction Volume, Dollars, one of the key operating metrics Upstart reports in its quarterly and annual SEC filings. Transaction Volume, Dollars is defined as the total principal amount of loan originations (or committed amounts for HELOCs) facilitated through Upstart’s marketplace during the periods presented. “Origination days” represent the effective number of funding days in a month, based on a 24-hour funding window starting and ending at approximately 5:00 p.m. eastern time. Each business day counts as 1.0 day in Upstart’s calculation. Weekend days and bank holidays are weighted at 0.55 days to reflect lower application activity and are rolled forward to the next business day, when those loans are typically funded. If month-end falls on a weekend or bank holiday, originations from that period are attributed to the following month. “Originations, Dollars per day” is calculated as total “Originations” divided by the number of “Origination days” in the applicable period. About Upstart Upstart (NASDAQ: UPST) is the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions that leverage Upstart’s AI models and cloud applications to deliver superior credit products. With Upstart AI, lenders can approve more borrowers at lower rates while delivering the exceptional digital-first experience customers demand. More than 90% of loans are fully automated, with no human intervention by Upstart. Founded in 2012, Upstart’s platform includes personal loans, automotive retail loans, home equity lines of credit, and Upstart’s new Cash Line product, a revolving line of credit. Upstart is based in San Mateo, California. Legal Disclaimer The Originations and Originations, Dollars per day data (“Originations Data”) provided on this page are unaudited, preliminary, and subject to completion of our financial closing procedures in connection with our quarterly financial results as reported in our filings with the Securities and Exchange Commission (“SEC”), which are also available on our Investor Relations website. While Originations Data have historically been the largest predictor of our total revenue, this historical correlation is not a guaranteed indicator for future final results. The Originations Data are presented without commentary and should be read together with our quarterly and annual financial results and our filings with the SEC. We intend to release monthly Originations Data for the prior month on the third calendar day following each month. However, if this falls on a weekend or federal holiday, we intend to publish pre-market on the following business day. All forward-looking statements or information in this press release are subject to risks and uncertainties that may cause actual results to differ materially from those that Upstart expected. Any forward-looking statements or information are only as of the date hereof. Upstart undertakes no obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise. More information about these risks and uncertainties is provided in Upstart’s public filings with the Securities and Exchange Commission, copies of which may be obtained by visiting Upstart’s investor relations website at www.upstart.com or the SEC’s website at www.sec.gov. View source version on businesswire.com: https://www.businesswire.com/news/home/20260603865402/en/ Investors
Sonya Banerjee
ir@upstart.com Press
Eric Smith
press@upstart.com Original: Upstart Publishes May 2026 Origination Volume

Upstart Publishes April 2026 UMIMay 28, 2026 4:08 PM
Business Wire Upstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today updated the Upstart Macro Index (UMI) to include April 2026 data. For historical data and information about how the index is calculated, see upstart.com/umi. UMI rose to 1.46 in April, within the range observed since May 2025 and below the elevated levels observed in early 2024. While UMI is derived from Upstart-powered unsecured personal loans, broader macroeconomic trends can help contextualize recent movements in the index. The personal savings rate fell to 2.6% in April, the lowest level in nearly four years, as consumer spending (+0.5%) outpaced a slight decline in disposable personal income (-0.1%). This was largely driven by higher spending consistent with headline inflation data for April. The unemployment rate was 4.3% in April, flat from March. Revisions to UMI are posted weekly. Since our last monthly data release on April 30, 2026, UMI has been revised as follows: March revised from 1.42 to 1.37 February revised from 1.36 to 1.35 January revised from 1.39 to 1.37 About the UMI The UMI estimates the impact of the macroeconomy on credit losses for Upstart-powered unsecured personal loans. UMI is expressed as a multiple of defaults relative to a static baseline due to macroeconomic changes. For example, a UMI of 1.25 for a given month suggests that the macro caused default rates to be 25% higher than the long-run average. Because Upstart’s risk models are regularly recalibrated to changing macroeconomic conditions, a UMI above 1.0 does not imply that loans are underperforming - and a UMI below 1.0 does not imply that loans are overperforming. Instead, Upstart’s risk models are regularly adjusted to conservatively account for the most recent trend in UMI. This calibration adjusts the loss assumptions and thereby the interest rates and approval rates for new loan originations on our marketplace. While we are not able to accurately forecast future macroeconomic conditions, UMI is designed to provide timely insights into how today’s macroeconomic environment impacts Upstart-powered loan portfolios. See upstart.com/umi for more information. About Upstart Upstart (NASDAQ: UPST) is the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions that leverage Upstart’s AI models and cloud applications to deliver superior credit products. With Upstart AI, lenders can approve more borrowers at lower rates while delivering the exceptional digital-first experience customers demand. More than 90% of loans are fully automated, with no human intervention by Upstart. Founded in 2012, Upstart’s platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and Upstart’s new Cash Line product, a revolving line of credit. Upstart is based in San Mateo, California. Legal Disclaimer Past UMI performance can provide no assurance and is not indicative of future UMI results. UMI is based on historical data and Upstart’s analysis of the losses within Upstart-powered loan portfolios and is specific to Upstart’s borrower base. UMI is not intended to measure the macroeconomic risks in terms of losses of loan portfolios or asset classes that are not Upstart-powered loans, including loans held by other segments of the U.S. population. It is not designed to measure the current state of the overall economy or to measure or predict future macroeconomic conditions, trends or risks. It is also not designed to measure or predict the future performance of Upstart-powered loans or of Upstart’s other products, overall financial results of operations or stock price. We expect that our research and development efforts to improve UMI could result in changes or revisions to current or past UMI values. All forward-looking statements or information in this press release are subject to risks and uncertainties that may cause actual results to differ materially from those that Upstart expected. Any forward-looking statements or information are only as of the date hereof. Upstart undertakes no obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise. More information about these risks and uncertainties is provided in Upstart’s public filings with the Securities and Exchange Commission, copies of which may be obtained by visiting Upstart’s investor relations website at www.upstart.com or the SEC’s website at www.sec.gov. View source version on businesswire.com: https://www.businesswire.com/news/home/20260528197409/en/ Investors
Sonya Banerjee
ir@upstart.com Press
Eric Smith
press@upstart.com Original: Upstart Publishes April 2026 UMI

Upstart Holdings, Inc. Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights - UPSTMay 27, 2026 2:06 AM
PR Newswire (US) LOS ANGELES, May 27, 2026 /PRNewswire/ -- The DJS Law Group reminds investors of a class action lawsuit against Upstart Holdings, Inc. ("Upstart" or "the Company") (NASDAQ: UPST) for for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.Shareholders who purchased shares of UPST during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointments. Appointment as lead plaintiff is not required to partake in any recovery.CLASS PERIOD: May 14, 2025 to November 4, 2025DEADLINE: June 8, 2026CASE DETAILS: According to the Complaint, the Company made false and misleading statements to the market. Upstart overstated the accuracy of its "Model 22" AI. The AI's poor decision making impacted the Company's financial results. Based on these facts, Upstart's public statements were false and materially misleading throughout the class period.If you are a shareholder who suffered a loss, contact us to participate.WHY DJS LAW GROUP? DJS Law Group's primary focus is to enhance investor return through balanced counseling and aggressive advocacy. We specialize in securities class actions, corporate governance litigation, and domestic/international M&A appraisals. Our clients are some of the largest and most sophisticated hedge funds and alternative asset managers in the world. The litigation claims of our clients are extraordinarily valuable assets that demand respect, focus, and results.Join the case to recover your losses.This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.CONTACT:David J. SchwartzDJS Law Group274 White Plains Road, Suite 1 Eastchester, NY 10709Phone: 914-206-9742Email: David@djslawllp.com View original content:https://www.prnewswire.com/news-releases/upstart-holdings-inc-sued-for-securities-law-violations---contact-the-djs-law-group-to-discuss-your-rights--upst-302782550.htmlSOURCE DJS Law Group LLP Original: Upstart Holdings, Inc. Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights - UPST

The Gross Law Firm Reminds Upstart, Inc. Investors of the Pending Class Action Lawsuit With a Lead Plaintiff Deadline of June 8, 2026 - UPSTMay 26, 2026 9:00 AM
PR Newswire (US) NEW YORK, May 26, 2026 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Upstart, Inc. (NASDAQ: UPST). Shareholders who purchased shares of UPST during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/upstart-inc-loss-submission-form-2/?id=186867&from=4CLASS PERIOD: May 14, 2025 to November 4, 2025ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that:  (i) the Company's latest iteration of its AI model, Model 22, frequently overreacted to negative macroeconomic signals in performing its risk-separation processes; (ii) accordingly, Model 22's overall accuracy and propensity to increase loan approval rates was overstated; (iii) Model 22's overly conservative assessment of credit and macroeconomic conditions was having a significant negative impact on Upstart's revenue results, rendering the Company's previously issued FY 2025 revenue guidance unreliable and/or unrealistic; and (iv) as a result, defendants' public statements were materially false and misleading at all relevant timesDEADLINE: June 8, 2026 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/upstart-inc-loss-submission-form-2/?id=186867&from=4NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of UPST during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is June 8, 2026. There is no cost or obligation to you to participate in this case.WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg @bback View original content to download multimedia:https://www.prnewswire.com/news-releases/the-gross-law-firm-reminds-upstart-inc-investors-of-the-pending-class-action-lawsuit-with-a-lead-plaintiff-deadline-of-june-8-2026---upst-302779783.htmlSOURCE The Gross Law Firm Original: The Gross Law Firm Reminds Upstart, Inc. Investors of the Pending Class Action Lawsuit With a Lead Plaintiff Deadline of June 8, 2026 - UPST

Upstart Co-founder and CEO to Participate in Fireside Chat at the Morgan Stanley US Financials ConferenceMay 21, 2026 4:05 PM
Business Wire Upstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today announced that Paul Gu, Co-founder and CEO, will participate in a fireside chat at the Morgan Stanley US Financials Conference on Wednesday, June 10, at 3:15 pm ET (12:15 pm PT). A live audio webcast of the event will be available on Upstart’s investor relations website at ir.upstart.com. A replay of the webcast will be available for a limited period of time following the event. About Upstart Upstart (NASDAQ: UPST) is the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions that leverage Upstart’s AI models and cloud applications to deliver superior credit products. With Upstart AI, lenders can approve more borrowers at lower rates while delivering the exceptional digital-first experience customers demand. More than 90% of loans are fully automated, with no human intervention by Upstart. Founded in 2012, Upstart’s platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and Upstart’s new Cash Line product, a revolving line of credit. Upstart is based in San Mateo, California. View source version on businesswire.com: https://www.businesswire.com/news/home/20260521705890/en/ Investors
Sonya Banerjee
ir@upstart.com Press
Eric Smith
press@upstart.com Original: Upstart Co-founder and CEO to Participate in Fireside Chat at the Morgan Stanley US Financials Conference

Upstart CFO to Participate in Fireside Chat at the Mizuho Technology ConferenceMay 21, 2026 4:05 PM
Business Wire Upstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today announced that Andrea Blankmeyer, CFO, will participate in a fireside chat at the Mizuho Technology Conference on Tuesday, June 9, at 1:05 pm ET (10:05 am PT). A live audio webcast of the event will be available on Upstart’s investor relations website at ir.upstart.com. A replay of the webcast will be available for a limited period of time following the event. About Upstart Upstart (NASDAQ: UPST) is the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions that leverage Upstart’s AI models and cloud applications to deliver superior credit products. With Upstart AI, lenders can approve more borrowers at lower rates while delivering the exceptional digital-first experience customers demand. More than 90% of loans are fully automated, with no human intervention by Upstart. Founded in 2012, Upstart’s platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and Upstart’s new Cash Line product, a revolving line of credit. Upstart is based in San Mateo, California. View source version on businesswire.com: https://www.businesswire.com/news/home/20260521179904/en/ Investors
Sonya Banerjee
ir@upstart.com Press
Eric Smith
press@upstart.com Original: Upstart CFO to Participate in Fireside Chat at the Mizuho Technology Conference

Upstart Holdings, Inc. Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights - UPSTMay 14, 2026 3:34 AM
PR Newswire (US) LOS ANGELES, May 14, 2026 /PRNewswire/ -- The DJS Law Group reminds investors of a class action lawsuit against Upstart Holdings, Inc. ("Upstart" or "the Company") (NASDAQ: UPST) for for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.Shareholders who purchased shares of UPST during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointments. Appointment as lead plaintiff is not required to partake in any recovery.CLASS PERIOD: May 14, 2025 to November 4, 2025DEADLINE: June 8, 2026CASE DETAILS: According to the Complaint, the Company made false and misleading statements to the market. Upstart overstated the accuracy of its "Model 22" AI. The AI's poor decision making impacted the Company's financial results. Based on these facts, Upstart's public statements were false and materially misleading throughout the class period.If you are a shareholder who suffered a loss, contact us to participate.WHY DJS LAW GROUP? DJS Law Group's primary focus is to enhance investor return through balanced counseling and aggressive advocacy. We specialize in securities class actions, corporate governance litigation, and domestic/international M&A appraisals. Our clients are some of the largest and most sophisticated hedge funds and alternative asset managers in the world. The litigation claims of our clients are extraordinarily valuable assets that demand respect, focus, and results.Join the case to recover your losses.This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.CONTACT:David J. SchwartzDJS Law Group274 White Plains Road, Suite 1 Eastchester, NY 10709Phone: 914-206-9742Email: David@djslawllp.com View original content:https://www.prnewswire.com/news-releases/upstart-holdings-inc-sued-for-securities-law-violations---contact-the-djs-law-group-to-discuss-your-rights--upst-302771796.htmlSOURCE DJS Law Group LLP Original: Upstart Holdings, Inc. Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights - UPST

Upstart Holdings, Inc. Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights - UPSTApril 14, 2026 4:54 AM
PR Newswire (US)

LOS ANGELES, April 14, 2026 /PRNewswire/ -- The DJS Law Group reminds investors of a class action lawsuit against Upstart Holdings, Inc. ("Upstart" or "the Company") (NASDAQ: UPST) for for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.Shareholders who purchased shares of UPST during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointments. Appointment as lead plaintiff is not required to partake in any recovery.CLASS PERIOD: May 14, 2025 to November 4, 2025DEADLINE: June 8, 2026CASE DETAILS: According to the Complaint, the Company made false and misleading statements to the market. Upstart overstated the accuracy of its "Model 22" AI. The AI's poor decision making impacted the Company's financial results. Based on these facts, Upstart's public statements were false and materially misleading throughout the class period.If you are a shareholder who suffered a loss, contact us to participate.WHY DJS LAW GROUP? DJS Law Group's primary focus is to enhance investor return through balanced counseling and aggressive advocacy. We specialize in securities class actions, corporate governance litigation, and domestic/international M&A appraisals. Our clients are some of the largest and most sophisticated hedge funds and alternative asset managers in the world. The litigation claims of our clients are extraordinarily valuable assets that demand respect, focus, and results.Join the case to recover your losses.This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.CONTACT:David J. SchwartzDJS Law Group274 White Plains Road, Suite 1 Eastchester, NY 10709Phone: 914-206-9742Email: David@djslawllp.com



View original content:https://www.prnewswire.com/news-releases/upstart-holdings-inc-sued-for-securities-law-violations---contact-the-djs-law-group-to-discuss-your-rights--upst-302741214.htmlSOURCE DJS Law Group LLP

Original: Upstart Holdings, Inc. Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights - UPST

Upstart Holdings, Inc. Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights – UPSTApril 9, 2026 7:15 AM
Business Wire
The DJS Law Group reminds investors of a class action lawsuit against Upstart Holdings, Inc. (“Upstart” or “the Company”) (NASDAQ: UPST) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.


Shareholders who purchased shares of UPST during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointments. Appointment as lead plaintiff is not required to partake in any recovery.


CLASS PERIOD: May 14, 2025 to November 4, 2025


DEADLINE: June 8, 2026


CASE DETAILS: According to the Complaint, the Company made false and misleading statements to the market. Upstart overstated the accuracy of its “Model 22” AI. The AI’s poor decision making impacted the Company’s financial results. Based on these facts, Upstart’s public statements were false and materially misleading throughout the class period.


If you are a shareholder who suffered a loss, contact us to participate.


WHY DJS LAW GROUP? DJS Law Group’s primary focus is to enhance investor return through balanced counseling and aggressive advocacy. We specialize in securities class actions, corporate governance litigation, and domestic/international M&A appraisals. Our clients are some of the largest and most sophisticated hedge funds and alternative asset managers in the world. The litigation claims of our clients are extraordinarily valuable assets that demand respect, focus, and results.


Join the case to recover your losses.


This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260409664048/en/
David J. Schwartz

DJS Law Group

274 White Plains Road, Suite 1

Eastchester, NY 10709

Phone: 914-206-9742

Email: David@djslawllp.com


Original: Upstart Holdings, Inc. Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights – UPST

Upstart to Announce First Quarter 2026 Results on May 5, 2026April 6, 2026 4:05 PM
Business Wire
Upstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, will hold a conference call to discuss its first quarter 2026 financial results on Tuesday, May 5, 2026, at 1:30 p.m. PT / 4:30 p.m. ET. The company’s earnings press release and investor presentation will be available on its investor relations website at ir.upstart.com after the market closes that day.


Live webcast. The live webcast and a replay will be available on Upstart’s investor relations website.


Conference Call Dial-In. To access the live conference call in the United States and Canada: 800-330-6710, conference code 7983833. To access the live conference call outside of the United States and Canada: +1 312-471-1353, conference code 7983833.


About Upstart


Upstart (NASDAQ: UPST) is the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions that leverage Upstart’s AI models and cloud applications to deliver superior credit products. With Upstart AI, lenders can approve more borrowers at lower rates while delivering the exceptional digital-first experience customers demand. More than 90% of loans are fully automated, with no human intervention by Upstart. Founded in 2012, Upstart’s platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and Upstart’s upcoming Cash Line product, a revolving line of credit. Upstart is based in San Mateo, California.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260406950273/en/
Investors

Sonya Banerjee

ir@upstart.com


Press

Chantal Rapport

press@upstart.com


Original: Upstart to Announce First Quarter 2026 Results on May 5, 2026

Upstart Announces a $1B Forward-Flow Agreement with Eltura Ventures and Aperture InvestorsMarch 17, 2026 8:45 AM
Business Wire
Upstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today announced a forward-flow commitment with Eltura Capital Management, an alternative investment manager specializing in asset-based finance and structured credit opportunities, Aperture Investors, an alternative asset manager and part of Generali Investments, and co-investors. The investor group has agreed to purchase up to $1 billion of consumer loans originated through the Upstart platform.


“We are excited to partner with a pioneer in AI-driven lending and believe this forward-flow arrangement reflects a strong alignment between our firms,” said Martin Ego, Founder and Chief Investment Officer at Eltura. “The Upstart platform represents a compelling opportunity for Eltura to deploy proprietary capital and source consumer loans.”


“We’re pleased to partner with Upstart and Eltura on this forward flow program,” said Nick Turgeon, Global Head of Asset-Based Finance and Portfolio Manager at Aperture Investors. “Upstart’s disciplined, technology-driven origination platform aligns with our investment focus of partnering with top tier originators.”


The agreement consists of a 12-month forward flow arrangement and builds on an existing relationship between the parties, representing the first forward-flow arrangement of this scale between Upstart and the investor group.


“We are stoked to deepen our relationship with Eltura and welcome Aperture as a new partner,” said Sanjay Datta, President and Chief Capital Officer at Upstart. “This agreement is a step forward in ensuring a robust and diverse funding ecosystem for Upstart’s loans. It’s a win for our platform, our partners, and the borrowers we serve.”


About Upstart


Upstart (NASDAQ: UPST) is the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions that leverage Upstart’s AI models and cloud applications to deliver superior credit products. With Upstart AI, lenders can approve more borrowers at lower rates while delivering the exceptional digital-first experience customers demand. More than 90% of loans are fully automated, with no human intervention by Upstart. Founded in 2012, Upstart’s platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and Upstart’s upcoming Cash Line product, a revolving line of credit. Upstart is based in San Mateo, California.


About Eltura


Eltura Capital Management, LLC employs a dual investment and advisory strategy that leverages expertise in originating and structuring risk-adjusted investment opportunities in the consumer and commercial credit space. The Firm was founded in 2021 by senior structured finance bankers and service providers to source, structure, and service transactions with an emphasis on the active management of investments across the structured credit landscape.


About Aperture Investors


Aperture Investors is an alternative asset manager overseeing approximately $5.8 billion in assets under management and committed and seed capital (as of January 31, 2026). Founded in partnership with Generali Group, a leading global insurance and asset management group, Aperture combines the entrepreneurial agility of a boutique with the institutional strength of a global platform. With investment strategies spanning public and private credit and equity markets, Aperture’s top-tier portfolio managers and teams deliver alpha-focused investment solutions, with a commitment to transparency and client alignment. For more information, visit us at www.apertureinvestors.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20260317029847/en/
Investors

Chelsea Williams

ir@upstart.com


Press

Chantal Rapport

press@upstart.com


Original: Upstart Announces a $1B Forward-Flow Agreement with Eltura Ventures and Aperture Investors

Upstart to Apply for National Bank CharterMarch 10, 2026 4:05 PM
Business Wire
Approval Would Allow Upstart to Offer Better Rates to Borrowers by Reducing Operational, Regulatory, and Financial Complexity


Upstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today announced its plan to submit an application to the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) to establish an insured national bank, Upstart Bank, N.A. Upstart Holdings, Inc. will also apply to the Federal Reserve for approval to become a bank holding company.


Subject to regulatory approval, the charter will allow Upstart to reduce operational, regulatory, and financial costs and complexity for itself as well as for its third-party capital sources. Annie Delgado, Upstart’s Chief Risk Officer, is the proposed Chief Executive Officer of Upstart Bank, N.A.


“The time is right to launch the first bank built from the ground up on AI,” said Paul Gu, Upstart’s Chief Technology Officer and incoming CEO. “Applying for a bank charter is the natural evolution of our business as we’ve grown in size, scale, and product offerings. This will allow us to save borrowers even more time and money, and streamline our partnerships with banks, credit unions, and institutional credit funds.”


“AI-based lending is the future of credit,” said Annie Delgado. “As more and more lenders are looking to adopt AI tools for these critical functions, engagement with regulators is critical. If approved, we look forward to working directly with the OCC, FDIC and the Fed to set the standard for modern AI model deployment within the banking system.”


A national bank charter significantly reduces regulatory-driven operational complexity by placing Upstart’s lending activities under a federal prudential framework. Upstart Bank, N.A. will be able to access deposit funding and lend to consumers directly via a single, consistent rate and fee structure, which could translate to lower costs and greater lending opportunities in certain jurisdictions.


“Banks, credit unions, and institutional funds will continue to be the capital source for the vast majority of all loans originated on the Upstart platform,” said Sanjay Datta, President and Chief Capital Officer. “We are not seeking to compete with our depository partners for local customer deposits and checking accounts.”


Upstart worked closely with its advisors, Klaros Group, in preparing the application.


About Upstart


Upstart (NASDAQ: UPST) is the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions that leverage Upstart’s AI models and cloud applications to deliver superior credit products. With Upstart AI, lenders can approve more borrowers at lower rates while delivering the exceptional digital-first experience customers demand. More than 90% of loans are fully automated, with no human intervention by Upstart. Founded in 2012, Upstart’s platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and Upstart’s upcoming Cash Line product, a revolving line of credit. Upstart is based in San Mateo, California.


Forward-Looking Statements


This press release contains forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, statements regarding Upstart Bank N.A.’s regulatory structure and approvals; operational and financial impacts; funding and capital structure; and borrower and partner benefits.


Risks that contribute to the uncertain nature of the forward-looking statements include, among others, the possibility that regulatory approvals are denied, delayed, conditioned, or limit anticipated benefits; changes in applicable laws or supervisory expectations; risks associated with operating a bank; the Company’s ability to realize anticipated efficiencies, cost reductions, or funding benefits; and the continued participation of funding partners on the platform; as well as other risks and uncertainties relating to the Company listed or described from time to time in the Company’s filings with the Securities and Exchange Commission (the “SEC”), copies of which may be obtained by visiting our investor relations website or the SEC’s. All forward-looking statements are based on information and estimates available to the Company at the time of this press release. Except as required by law, the Company assumes no obligation to update any of the statements in this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260310800262/en/
Investors

Chelsea Williams

ir@upstart.com


Press

Chantal Rapport

press@upstart.com


Original: Upstart to Apply for National Bank Charter

Upstart Announces Inaugural $200M Upstart Auto Forward-Flow Agreement with WafraFebruary 20, 2026 8:05 AM
Business Wire
Upstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today announced a forward-flow commitment from funds managed by Wafra, a New York-based global alternative investment manager focused on strategic partnerships, real estate and real assets. Wafra has agreed to purchase up to $200 million of assets originated through the Upstart auto finance platform.


“We are pleased to partner with Upstart on its inaugural auto finance forward-flow program,” said Paul Steinberger, Managing Director at Wafra. “This partnership exemplifies how we work with leaders in the asset-based finance ecosystem on strategies to deliver credit exposures that offer compelling risk-reward opportunities for our investors.”


The agreement consists of a 12-month forward flow arrangement and is the first such agreement between Upstart and Wafra. The arrangement supports Upstart’s ability to deliver a consistent auto funding platform across its growing auto product vertical business and over a variety of economic environments.



“We are delighted over the opportunity to establish a strong partnership with Wafra in this agreement, which demonstrates significant market interest in Upstart's maturing auto platform,” said Sanjay Datta, President and Chief Capital Officer at Upstart. “Wafra's investment will help Upstart to continue our goal of pursuing the best rates and best process to help borrowers with their auto financing needs.”

About Upstart


Upstart (NASDAQ: UPST) is the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions that leverage Upstart’s AI models and cloud applications to deliver superior credit products. With Upstart AI, lenders can approve more borrowers at lower rates while delivering the exceptional digital-first experience customers demand. More than 90% of loans are fully automated, with no human intervention by Upstart. Founded in 2012, Upstart’s platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small-dollar “relief” loans. Upstart is based in San Mateo, California.


About Wafra


Wafra is a global alternative investment manager with approximately $29 billion of assets under management across a range of alternative investment strategies including strategic partnerships, real assets & infrastructure, and real estate. For over 40 years, Wafra has provided flexible and accretive capital solutions across asset classes while building enduring partnerships with high-quality asset owners, companies, and management teams. Wafra is headquartered in New York with additional offices in London and Bermuda.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260220026550/en/
Investors

Chelsea Williams

ir@upstart.com
Press

Chantal Rapport

press@upstart.com


Original: Upstart Announces Inaugural $200M Upstart Auto Forward-Flow Agreement with Wafra

Upstart Repurchases $100 Million of SharesFebruary 19, 2026 7:55 AM
Business Wire
Upstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today announced that it purchased $100 million of common stock over the last four trading days.


Upstart purchased a total of 3,193,294 shares of common stock at an average price of $31.31 per share between February 12, 2026 and February 18, 2026. These shares were repurchased in open market transactions pursuant to a $400 million share repurchase program previously authorized by the Upstart Board of Directors. After these repurchases, there is $122 million remaining under the program.


About Upstart


Upstart (NASDAQ: UPST) is the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions that leverage Upstart’s AI models and cloud applications to deliver superior credit products. With Upstart AI, lenders can approve more borrowers at lower rates while delivering the exceptional digital-first experience customers demand. More than 90% of loans are fully automated, with no human intervention by Upstart. Founded in 2012, Upstart’s platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small-dollar “relief” loans. Upstart is based in San Mateo, California.


Forward-Looking Statements


This press release contains forward-looking statements, including but not limited to, statements regarding Upstart’s share repurchase program. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as "anticipate", "estimate", "expect", "project", "plan", "intend", “target”, “aim”, "believe", "may", "will", "should", “becoming”, “could”, "can have", "likely" and other words and terms of similar meaning in connection with any discussion of the timing or nature of Upstart’s repurchases of common stock, future operating or financial performance or other events. Forward-looking statements give our current expectations and projections relating to our share repurchase program; financial condition; plans; objectives; growth opportunities; assumptions; risks; future performance; business; and results of operations. Neither we nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The forward-looking statements included in this press release relate only to events as of the date hereof. Upstart undertakes no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.


All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected. More information about factors that could affect our results of operations and risks and uncertainties are provided in our public filings with the Securities and Exchange Commission, copies of which may be obtained by visiting our investor relations website at www.upstart.com or the SEC’s website at www.sec.gov. These risks and uncertainties include, but are not limited to, our ability or desire to repurchase shares of Upstart common stock in the future.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260219517068/en/
Investors

Chelsea Williams

ir@upstart.com


Press

Chantal Rapport

press@upstart.com


Original: Upstart Repurchases $100 Million of Shares

Upstart Announces Cash Line, Bringing Always-On Credit to Millions of AmericansFebruary 17, 2026 10:45 AM
Business Wire
Upstart (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today announced Cash Line, a breakthrough revolving line of credit that gives consumers ongoing access to money as needed.


“Cash Line is Upstart’s next great leap toward always-on credit for every American,” said Dave Girouard, co-founder and CEO of Upstart. “We are rapidly building a one-stop shop for all flavors of credit where guaranteed best rates are available 24/7 in a matter of minutes. Cash Line offers reliable access to money in the moments that matter the most.”


Cash Line leapfrogs the unreliable and often predatory short-term options currently available. While traditional cash advance apps promise high limits, they often approve consumers for far less, layer on hidden fees, and provide unpredictable access, leaving millions of Americans without affordable options when they need it most. Cash Line breaks this cycle by offering:



Guaranteed minimum of $200 for all approved consumers, the highest in the industry



Up to $5,000 revolving line - more than 5X leading competitors



Always-on - approved lines are never reduced (provided program requirements are met)



Instant access - no extra fees for expedited access



Customized repayment options - industry-first features like ‘Rest Mode’ put consumers in control



Simple, transparent pricing:


$10 monthly membership for lines up to $500



Plus a low APR (5 to 36%) for draws beyond $500






Starting today, consumers can join the waitlist for early access to Cash Line’s beta before it’s widely available with all features later in 2026. To learn more, visit upstart.com/cash-line-waitlist


About Upstart


Upstart (NASDAQ: UPST) is the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions that leverage Upstart’s AI models and cloud applications to deliver superior credit products. With Upstart AI, lenders can approve more borrowers at lower rates while delivering the exceptional digital-first experience customers demand. More than 90% of loans are fully automated, with no human intervention by Upstart. Founded in 2012, Upstart’s platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small-dollar “relief” loans. Upstart is based in San Mateo, California.


Forward-Looking Statements


This press release contains forward-looking statements within the meaning of the federal securities laws, including statements regarding the expected features, functionality, pricing, and benefits of Cash Line; the guaranteed minimum and maximum credit amounts, availability, and applicable terms; and the timing and scope of Cash Line’s beta and broader rollout. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. Forward-looking statements are based on our current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. We undertake no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. Information about additional risks and uncertainties relating to these forward-looking statements are included in our public filings with the Securities and Exchange Commission (the “SEC”), copies of which may be obtained by visiting our investor relations website or the SEC’s.


Upstart is not the lender for this product. All loans on Upstart's marketplace are made by regulated financial institutions.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260217824169/en/
Investors

Sonya Banerjee

ir@upstart.com


Press

Chantal Rapport

press@upstart.com


Original: Upstart Announces Cash Line, Bringing Always-On Credit to Millions of Americans

How Upstart (UPST) Is Using AI to Shape the Future of Consumer Lending
By Ghazal Ahmed | January 03, 2026, 7:01 AM

https://www.insidermonkey.com/blog/how-upstart-upst-is-using-ai-to-shape-the-future-of-consumer-lending-1668999/

Upstart Holdings, Inc. (NASDAQ:UPST) is one of the Best AI Stocks to Buy under $50. This AI lending platform helps banks and credit unions better assess credit risk. While lenders typically use simple rule-bases systems focusing heavily on FICO scores and limited variables, UPST evaluates over 2,500 data points for the same.

Moreover, the platform’s learning models continuously learn and evolve with each borrower’s repayment behavior. In early November, Mizuho analyst Dan Dolev lowered the firm’s price target on the stock to $66 from $86 and kept an "Outperform" rating on the shares. The firm updated the company’s model post the Q3 report.


The AI lending marketplace reported third-quarter revenue of $277.1 million, a slight miss compared to the forecast of $279.59 million. On the other hand, earnings for the quarter, $0.52, surpassed the forecast of $0.42. Looking ahead, the company projects Q4 2025 revenue to reach $288 million and forecasts a full-year 2025 revenue of $1.035 billion.

The CEO of Upstart is optimistic about the company's game plan post its quarterly report.

“In Q3, we continued to execute on our 2025 game plan of rapid growth, profitability, and AI leadership — all anchored in exceptional credit performance. The results include 80% year-on-year growth in originations with 71% growth in revenue, and a sixfold sequential increase in GAAP net income. Our AI platform is performing exactly as designed, rapidly adapting to evolving macro signals while delivering strong results.” -Dave Girouard, Co-founder and CEO of Upstart.

Upstart Holdings, Inc. (NASDAQ:UPST) operates a cloud-based artificial intelligence (AI) lending platform in the United States.

1 Magnificent Artificial Intelligence (AI) Stock to Buy Hand Over Fist Heading Into November
By Anthony Di Pizio | October 24, 2025, 4:07 AM

https://finviz.com/news/203379/1-magnificent-artificial-intelligence-ai-stock-to-buy-hand-over-fist-heading-into-november

Upstart Holdings Inc

Key Points
U.S. regional banks have sparked concerns about the health of some consumer credit segments.

Upstart stock has been swept up in the chaos.

Upstart is generating explosive growth right now, and its stock looks attractively valued.


Upstart Holdings (NASDAQ: UPST) developed an artificial intelligence (AI) algorithm to perform credit assessments on potential borrowers. It can analyze more data and deliver faster approvals than traditional assessment methods, so a growing number of banks are using it to originate their consumer loans.

However, Upstart stock has plummeted by 27% during the past 30 days, as some U.S. regional banks have flagged potential credit losses from bad loans and even fraud over the last few weeks, which is dragging the entire consumer credit sector down. There is no suggestion Upstart contributed to any of the purported issues -- in fact, loans originated using its algorithm typically outperform those originated through traditional assessment methods.

As a result, this might be a buying opportunity for investors. Upstart is scheduled to release its results for the third quarter of 2025 on Nov. 4. Here's why the report could be a bullish catalyst.

AI-powered lending could be a trillion-dollar opportunity
Banks have relied on Fair Isaac's FICO credit scoring system for more than three decades, but it only takes a handful of factors into account, like a person's existing debt and their repayment history. Therefore, Upstart believes it's outdated. It has designed its AI algorithm to analyze over 2,500 data points instead, to get a more accurate sense of a potential borrower's ability to repay their loan.

Upstart says 92% of its approvals are fully automated and instant, whereas it would take a human assessor days or even weeks to analyze a similar amount of data. This creates a convenient customer experience, which is why banks and credit unions are eager to adopt the technology.

Most of Upstart's originations are unsecured personal loans, but it has a growing presence in the automotive and home equity line of credit (HELOC) segments. During the second quarter of 2025, the company originated 372,599 loans across all categories, which was up by an eye-popping 159% from the year-ago period. They had a dollar value of $2.8 billion, which was a three-year high.

Granted, the past few years have been difficult for Upstart, as elevated interest rates drove down demand for consumer loans. The Federal Reserve cut rates three times in the closing months of 2024, which contributed to Upstart's strong second-quarter result. However, the company also cited an improvement in its AI algorithm, which converted more applicants into borrowers.

This momentum could have serious legs in the long run. At Upstart's "AI Day 2025" event earlier this year, Chief Executive Officer Dave Girouard said he expects all human loan assessment methods will be replaced by AI during the next 10 years. That leaves $25 trillion in annual loan originations up for grabs worldwide, and a whopping $1 trillion per year in fee revenue.

Upstart is on track for record revenue this year

As a result of its surging originations, Upstart's second-quarter revenue jumped by 102% year over year to $257 million. It was the fourth-consecutive quarter in which revenue growth accelerated.

The strong result prompted management to raise the company's full-year revenue forecast to $1.055 billion for 2025, which would be the first time it crosses the billion-dollar milestone. If Upstart's third-quarter result comes in above management's estimate of $280 million on Nov. 4, investors should look for a further upward revision to the full-year forecast.

Upstart's bottom line is also benefiting from the surge in revenue. The company reported $5.6 million in net income on a generally accepted accounting principles (GAAP) basis during the second quarter, and it's now on track for its first profitable year since 2021.

Upstart stock trades at an attractive valuation

As I mentioned, there hasn't been any indication that Upstart's algorithm is driving the recent issues with bad loans at regional banks. In fact, Upstart won a regional bank client as recently as Oct. 15, which is now using its algorithm to originate personal loans, car loans, and HELOCs.

Plus, Upstart's algorithm was battle-tested during the difficult 2022 and 2023 period, and it performed well. The company wouldn't be growing so quickly right now if that weren't the case.

With all of that in mind, Upstart stock could be a great buy on the dip ahead of its Nov. 4 earnings report. It's trading at a price-to-sales (P/S) ratio of just 5.6 as I write this, which is a 50% discount to its average of 11.1 dating back to its initial public offering (IPO) in 2020.

It looks even more attractive on a forward basis, if we measure its P/S ratio using Wall Street's 2026 revenue forecast of $1.34 billion:


UPST PS Ratio data by YCharts

In other words, Upstart stock would have to rise by 55% by the end of next year just to maintain its current P/S ratio of 5.6, and it would have to rocket by 208% in order for its P/S ratio to match its long-term average of 11.1.

As a result, the risk-reward picture looks very compelling right now, so Upstart stock could be a solid buy, especially for investors willing to hold on to it for at least the next 12 months (and beyond).

UPST cpps $58.80+$5.40(+10.11%) on 7.6M Above Avg Volume

Upstart Holdings $UPST Total Debt (mrq) $1.54B has a $6.78 book value. Overbought by 800%

New 52week high

Hopefully, another Carvana? don't wanna jinx it...

UPST, new 52 week high

Looks like a TERRIBLE projection lmao 

UPST +22 on earnings
or short covering

47.26 NHOD

Pump time maybe $2 billion deal catching some Hedgie hits

UPST

i WAS THINKING THE SAME,

but I guess he is looking at it from strictly a technical point

Weird comparison for me, Final. But I like it. ;)

Do you have access to current short numbers?

This has got to be tweaking some shorts. It's now up over 50%


Averages Table
10-Day Average Volume 6,211,815
90-Day Average Volume 4,974,110

Today's volume so far 30.4M Above Avg.

$UPST now vs $COIN last year 👀

And someone loaded almost $2Million in $30c’s for 9/20✍️ pic.twitter.com/AAUkjzgTPQ— TheBronxViking (@TheBronxViking) August 7, 2024

Upstart +39% is surging today after reporting a narrower-than-expected loss last night with strong upside Q3 revenue guidance
10:56:43 AM ET, 08/07/2024 - Briefing.com

This provider of an AI-based lending platform for banks said that its guidance demonstrates that it's on track toward resuming its role as the fintech known for high growth and healthy margins.UPST said it's benefitting from significant advances in its AI model, a revitalized funding supply, and increased operating efficiency.

when CFO dumps every month and show no trust and respect for the company future then you know the company is in trouble. my target for USPS $5 before 1st Q 2025

When BK?

There is no doubt in my mind that the feds will lower rates in June -- They shouldnt and probably should raise rates but they need to try to get sleepy joe re-elected -- When this happens i feel this stock could easily hit over 50 or more ---

The 93% Plunge in This Stock Proves Artificial Intelligence (AI) Doesn't Guarantee Positive Returns for Investors

Anthony Di Pizio, The Motley Fool
Sat, February 24, 2024 at 5:30 AM MST·5 min read

https://finance.yahoo.com/m/c071edba-4bb3-3c5e-a0b4-ee364dab52de/the-93%25-plunge-in-this-stock.html

Stocks like Nvidia, Microsoft, C3.ai, and Advanced Micro Devices (to name a few) have surged over the past year. Much of those returns have been driven by one thing: artificial intelligence (AI).

In fact, Goldman Sachs says a record-high 36% of all companies in the S&P 500 mentioned AI in their conference calls with investors in the fourth quarter of 2023. Clearly, there's a belief this technology will attract investors.

However, Upstart Holdings (NASDAQ: UPST) proves AI isn't always a magic bullet. Its stock went public in 2020 at $20 per share. It surged over 2,000% to an all-time high of $401 in less than a year, but it has since lost 93% of that value to trade at just $26.19 as of this writing -- despite being one of only a few companies successfully monetizing AI.

I'll explain the decline below, and whether the steep drop in Upstart stock could be a buying opportunity.

AI can't overcome surging interest rates

Banks and financial institutions tend to use the FICO credit scoring system when assessing the creditworthiness of a potential borrower, but Upstart believes that approach is outdated. After all, FICO only factors in five metrics like a person's repayment history and existing debts. Upstart's AI-driven models, on the other hand, measure 1,600 different data points to gain a better understanding of overall creditworthiness.

As a result, Upstart says its algorithm approves 44% more loans, at an interest rate that is 36% lower than traditional assessment methods. Plus, 89% of approvals are instant and entirely automated, which is a win for Upstart's bank partners, because analyzing over 1,000 data points manually (with human assessors) would be incredibly time-consuming and expensive.

As a loan originator, Upstart doesn't lend any money itself. Instead, the company uses its technology to approve loans for more than 100 banks. Upstart's models were originally trained to assess unsecured personal loans, but the company has expanded into car loans and home equity lines of credit (HELOCs), and that list will probably continue to grow.

Unfortunately, the U.S. Federal Reserve raised the federal funds rate from 0.25% to 5.50% between Mar. 2022 and Aug. 2023, which sent loan demand plummeting among consumers. Borrowing money is now much harder and more expensive than it was just a couple of years ago.

Upstart originated 437,659 loans in 2023, which was down a whopping 61% from 1.1 million loans in 2022 -- and that number was already down 5% from 2021.

Upstart's revenue plunged in 2023 as a result

Upstart delivered $560.4 million in revenue during 2023, down 38% from the previous year. That forced the company to drastically adjust its cost structure. It slashed 20% of its workforce at the start of 2023 and reduced its marketing spending 63% for the year. Any time a company cuts costs -- especially marketing expenses -- it becomes even harder to generate growth.

Unfortunately, those reduced expenses weren't enough to prevent Upstart's net loss from more than doubling to $240 million in 2023. Falling revenue and soaring losses are a surefire recipe for a lower stock price.

Upstart's management team expects the broader economic conditions to normalize in 2024, which will be a tailwind for its business. The Fed is also forecasting three interest rate cuts this year, and Wall Street thinks there could be as many as four cuts. That would take some pressure off consumers and likely reignite demand for credit.

Some of that optimism is baked into Upstart's forecasts. It expects to deliver $125 million in revenue for the first quarter, which would be a 21% increase year over year.

Is Upstart an AI stock to buy on the dip?

Despite the turbulent year in 2023, Upstart's technology is a game changer. The company said 92% of automatically approved applications converted to funded loans in the fourth quarter of 2023 -- that's more than 3x higher than the industry average of 27%.

Consumers tend to go cold when dealing with lengthy approval processes, so automation can lead to substantially more loans for Upstart's bank partners.

Plus, the addressable opportunity in the lending industry is enormous. Around $3 trillion worth of loans are originated in the U.S. each year across four categories: personal loans, car loans, mortgages, and small business loans. Upstart is active in the first two, and it has exposure to the home loan segment through its HELOC product, which is now active in 12 states.

The company has a long and potentially slow recovery ahead, but Wall Street thinks its full-year revenue will return to a modest growth rate of 8% in 2024. Current estimates also point to an acceleration to 23% growth in 2025.

Therefore, given the steep 93% drop in Upstart stock from its all-time high, now could be a great time to buy -- not just because of its AI pedigree but because its business might genuinely be on the upswing. However, investors should be mindful of the stock's severe volatility, which can be unnerving.

Is Upstart About to Solve Its Biggest Problem?
Jeremy Bowman, The Motley Fool

https://finance.yahoo.com/m/7937b29f-9abd-38d4-968f-eece2eb52cf5/is-upstart-about-to-solve-its.html

Sat, February 17, 2024 at 5:55 AM MST

Few companies have suffered as much from the Federal Reserve's interest rate campaign as Upstart (NASDAQ: UPST). Shares of the AI-based consumer lending company have fallen as much as 97% from peak to trough and are still down more than 90% from their peak in 2021. During the heady days of the pandemic, Upstart was growing at a blistering pace with revenue more than tripling, and it reported mid-teens profit margins even on a generally accepted accounting principles (GAAP) basis.

However, the Fed's rapid interest rate hikes to bring inflation under control have quashed demand for Upstart's loans, and the regional banking crisis also made its lending partners more cautious about taking on its loans.

Investors have had to be patient as Upstart's business has been down while rates remain high, and they got some more bad news in the company's fourth-quarter earnings report after Upstart beat estimates but offered disappointing first-quarter guidance. The stock was down by double-digit percentages in after-hours trading on Tuesday.

Upstart's wheels are still spinning

Overall, the results showed the business is in a steady but weak state due to the macroeconomic challenges above. Revenue in the quarter was $140.3 million, which was down 4% on a year-over-year basis, but up 4% on a sequential basis. That beat the consensus of $134.9 million.

Upstart originated 129,664 loans for a total of $1.3 billion, down 19% from the quarter a year ago, which reflects weak demand. On the bottom line, it eked out an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) profit of $0.6 million, but reported a GAAP loss of $42.4 million. On an adjusted basis, it lost $9.7 million, or $0.11 a share, which was slightly better than estimates at a per-share loss of $0.14.

Upstart's guidance was the real problem for investors. Management said it saw revenue slowing to $125 million in the first quarter of 2024 and an adjusted EBITDA loss of $33 million. That forecast indicates that Upstart isn't expecting to get any help from the Fed or macro conditions to start the year.

Something needs to change at Upstart

Ostensibly, Upstart's technology is still effective. Every quarter, it trots out data showing how much better its AI model performs against Fair Isaac's FICO score in assessing default risk.

However, what seems to be a competitive advantage hasn't been enough to drive new business to the platform or attract lending partners.

Given those challenges, it may be time for Upstart to try something new. There's no guarantee that interest rates will fall this year, despite the Fed's earlier forecast calling for three rate cuts, and considering the low unemployment and overall strength of the economy, Upstart may need to find a way to drive growth in a high interest rate environment.

The good news for investors is that a new product may be on the way. On the earnings call, CEO Dave Girouard said, "We've also identified a somewhat different opportunity to assist our lending partners in periods of reduced liquidity when banks tend to prioritize retaining existing customers over acquiring new ones."

Girouard also promised that the company is "increasing our innovation on the money supply," in order to find new lending partners and streamline those relationships. It also announced a deal with Ares, a leading global alternative investment manager, which will acquire $300 million of personal loans from Upstart.

Finally, Upstart is also increasing its investments in countercyclical offerings, including its HELOC product, which has reached $5 million in cumulative originations since it launched in 2023.

Can Upstart turn its stock's performance around?

Upstart stock is likely to get a boost if interest rates come down or there are signs of the economy weakening, but the company's initiatives to drive business right now may be more important for turning the stock around.

It will likely take a few quarters or more for those initiatives to show up on the bottom line, but investors should pay attention to the company's initiatives beyond loan originations as that could be key to stable profits.

If rates remain elevated, Upstart will need to pivot its business to deliver returns for investors. At the very least, management is working toward that goal.

I did too. Then I'll probably add if this gap fills at 21.95

Grabbed a few on today's big drop, avg 25.91. Will add more if drops further tmrw. Only looking for a 3-4$ bounce back.

Maybe. Maybe not?

That's a big guess right now (Unless you really are from the future 'Optimus Prime'. Then that would be transformative

(I really need to quit hanging out with three year olds. ;)

I, personally, like to keep an eye on unfilled gaps. There is a $14.13 gap not far off from your target.

So - Maybe so.

Good luck!

Back to 12!

Upstart to Report Fourth Quarter and Full Year 2023 Earnings on February 13, 2024

January 22, 2024 06:14 PM Eastern Standard Time
SAN MATEO, Calif.--(BUSINESS WIRE)--Upstart Holdings, Inc. (NASDAQ: UPST), a leading artificial intelligence (AI) lending marketplace, announced today that its fourth quarter and fiscal year 2023 business and financial results will be released on Tuesday, February 13, 2024 after the market close. Upstart will host a conference call and live webcast that day at 1:30 p.m. PT / 4:30 p.m. ET. Prior to the conference call, the fourth quarter and full year 2023 earnings press release and investor presentation will be available on Upstart’s investor relations website at ir.upstart.com.

Live webcast. The live webcast will be accessible on Upstart’s investor relations website, ir.upstart.com, and an archived webcast of the conference call will be available after the conference call.

Conference Call Dial In. To access the live conference call in the United States and Canada: +1 888-256-1007, conference code 7615310. To access the live conference call outside of the United States and Canada: +1 313-209-4906, conference code 7615310.

About Upstart

Upstart is the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions that leverage Upstart’s AI models and cloud applications to deliver superior credit products. With Upstart AI, lenders can approve more borrowers at lower rates across races, ages, and genders, while delivering the exceptional digital-first experience customers demand. More than 80% of borrowers are approved instantly, with zero documentation to upload. Founded in 2012, Upstart’s platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small-dollar “relief” loans. Upstart is based in San Mateo, California, and Columbus, Ohio.

UPST featured in this video

44% short, guess that alone could take it over 3x, of course rev. growth need to be positive. and the insider need to trust and stop selling so many shares.

insider have no clue means ITS a big PUMP and then a royal DUMP