UPSTART HOLDINGS Reports Q2 Earnings Results for FY2023
August 12, 2023
🌥️Earnings Overview
UPSTART HOLDINGS ($NASDAQ:UPST) reported its financial results for the quarter ended June 30, 2023, for the second quarter of FY2023. Total revenue in the quarter was USD 135.8 million, representing a 40.5% decline year over year. Net income declined to USD -28.2 million, down from -29.9 million in the same period the previous year.
Price History
UPSTART HOLDINGS, a leading provider of investment solutions, has reported its second quarter earnings results for the fiscal year 2023. On Tuesday, the company’s stock opened at $48.2 and closed at $51.8, down by 0.4% from its last closing price of 52.0. The company’s stock has also seen a year-on-year increase of 28%, which shows that UPSTART HOLDINGS is on track to further expand its operations and profitability. These figures demonstrate UPSTART HOLDINGS’ ability to successfully identify and capitalize on investment opportunities.
UPSTART HOLDINGS’ financial performance during Q2 shows that the company is well-positioned to continue its growth trajectory in the coming quarters. The company is expected to continue to invest in new products and services, as well as expand its digital platform offerings in order to capitalize on changing market trends. With its strong financial performance and growth prospects, UPSTART HOLDINGS looks set to remain a leader in the investment industry for years to come. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Upstart Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 538.15 | -268.9 | -47.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Upstart Holdings. More…
| Operations | Investing | Financing |
| -267.59 | -173.71 | 36.77 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Upstart Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.76k | 1.13k | 7.61 |
Key Ratios Snapshot
Some of the financial key ratios for Upstart Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 72.7% | – | – |
| FCF Margin | ROE | ROA |
| -53.1% | -26.6% | -9.5% |
Analysis
GoodWhale is here to provide insightful analysis into UPSTART HOLDINGS‘s financials. Our Star Chart analysis reveals that UPSTART HOLDINGS is strong in growth, but weak in asset, dividend, and profitability. We have concluded that UPSTART HOLDINGS has an intermediate health score of 5/10, meaning it is likely to be able to safely ride out any crisis without the risk of bankruptcy. Furthermore, our analysis has classified UPSTART HOLDINGS as a ‘rhino’ company, meaning it has achieved moderate revenue or earnings growth. Investors interested in this company may include those looking for companies with moderate growth potential, or those looking for potential long-term investments. More…
Peers
The company was founded in 2012 and is headquartered in San Francisco, California. Upstart Holdings Inc operates in the United States and Canada. The company offers personal loans to applicants with a good credit history and a steady income. The company also offers loans to students and recent graduates. LendingClub Corp is a financial technology company that offers personal loans, small business loans, and student loans. The company was founded in 2006 and is headquartered in San Francisco, California. LendingClub Corp operates in the United States, Canada, and the United Kingdom. SoFi Technologies Inc is a financial technology company that offers student loans, personal loans, and mortgage loans. The company was founded in 2011 and is headquartered in San Francisco, California. SoFi Technologies Inc operates in the United States and the United Kingdom. PayPal Holdings Inc is a technology company that operates a global online payments system. The company was founded in 1998 and is headquartered in San Jose, California. PayPal Holdings Inc operates in 202 markets and has 193 million active account holders.
– LendingClub Corp ($NYSE:LC)
LendingClub is an online credit marketplace connecting borrowers and investors. LendingClub’s technology platform enables it to provide a differentiated customer experience, offer lower costs, and create better outcomes for borrowers and investors.
LendingClub’s mission is to transform the banking system to make credit more affordable and investing more rewarding. The company was founded in 2006 and is headquartered in San Francisco, California.
LendingClub has a market cap of $1.22B as of 2022 and a Return on Equity of 9.83%. The company’s technology platform enables it to provide a differentiated customer experience, offer lower costs, and create better outcomes for borrowers and investors.
– SoFi Technologies Inc ($NASDAQ:SOFI)
SoFi Technologies Inc is a financial technology company with a market cap of 5.22 billion as of early 2021. The company offers a range of financial services including student loan refinancing, personal loans, mortgage loans, and investing products. SoFi has been one of the fastest-growing companies in Silicon Valley in recent years and has raised over $4 billion in venture funding.
– PayPal Holdings Inc ($NASDAQ:PYPL)
PayPal Holdings Inc is a digital payments company that enables customers to send and receive money online. The company has a market cap of 103.2 billion as of 2022 and a return on equity of 11.16%. PayPal Holdings Inc operates in more than 200 countries and territories and has over 300 million active customers. The company enables customers to pay and get paid in more than 100 currencies.
Summary
Investors may be concerned about the recent earnings results from Upstart Holdings, as the company reported a 40.5% drop in total revenue for the quarter ending June 30, 2023 and a net loss of -28.2 million. Although this is an improvement over the same period last year, the overall decline in revenue presents a significant risk to investors. Going forward, investors should closely monitor the company’s financial performance to evaluate whether it can return to profitability and sustain long-term growth.
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