UPSTART HOLDINGS Reports Second Quarter Earnings Results for FY2023
August 29, 2023
🌥️Earnings Overview
UPSTART HOLDINGS ($NASDAQ:UPST) reported total revenue of USD 135.8 million for the second quarter of FY2023, ending June 30 2023, on August 8 2023 – a decrease of 40.5% compared to the same period last year. Net income for the quarter was -28.2 million, a slight improvement from the -29.9 million reported in the previous year.
Share Price
UPSTART HOLDINGS released its second quarter earnings results for fiscal year 2023 on Tuesday. The company reported a 0.4% decrease in share prices from the previous day’s close of $52.0, with the opening price of $48.2 and closing price of $51.8. The company is confident that their strategic initiatives and cost savings will continue to drive growth moving forward. 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
At GoodWhale, we analyzed UPSTART HOLDINGS using our financial analysis tool. From the Star Chart, we found that UPSTART HOLDINGS is classified as “rhino”, which points to a company that has achieved moderate revenue or earnings growth. As it has an intermediate health score of 5/10 with regard to its cashflows and debt, UPSTART HOLDINGS is likely to sustain future operations in times of crisis. But when it comes to growth, asset, dividend, and profitability, UPSTART HOLDINGS is weakly performing. When considering potential investors for UPSTART HOLDINGS, those looking for a moderate growth company and those with a high risk tolerance may be interested. Those looking for rapid growth or high returns may want to look elsewhere. 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 feeling cautious about UPSTART HOLDINGS as the company reported their second quarter FY2023 earnings, with total revenue of USD 135.8 million, 40.5% lower than the same period last year. Net income also decreased from -29.9 million to -28.2 million, though a slight improvement from the year prior. Investors may find it difficult to assess the company’s performance in light of the current economic climate. Going forward, investors should watch for signs of improvement in UPSTART HOLDINGS’ key financial metrics to determine whether this company is a worthwhile investment option.
Related Posts
Recent Posts
