UPSTART HOLDINGS Reports Third Quarter Earnings Results for FY2023
November 26, 2023
🌥️Earnings Overview
UPSTART HOLDINGS ($NASDAQ:UPST) revealed their earnings for the third quarter of FY2023, ending on September 30 2023, on November 7 2023. Total revenue for the quarter stood at USD 134.6 million, a drop of 14.4% from the same quarter in the prior year. Net income was reported as USD -40.3 million, an improvement from the figure of -56.2 million in the previous year.
Market Price
The company saw a 0.4% increase in their closing stock price, as it opened at $29.4 and closed at the same price. This was a slight jump from the previous closing price of $29.3. This marks an impressive growth in the company’s performance. This is a positive sign for the company’s future prospects. UPSTART HOLDINGS is well positioned to capitalize on growth opportunities in the coming quarters.
The company has a strong balance sheet and its cash flow should provide the resources needed to continue expansion into new markets. With these positive results, UPSTART HOLDINGS is poised for continued success in the future. 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 |
| 515.48 | -253 | -46.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Upstart Holdings. More…
| Operations | Investing | Financing |
| -269.66 | -173.68 | 228.44 |
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 |
| 2k | 1.36k | 7.54 |
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 |
| 35.3% | – | – |
| FCF Margin | ROE | ROA |
| -55.3% | -24.8% | -7.9% |
Analysis
After conducting an analysis of UPSTART HOLDINGS‘ wellbeing, GoodWhale has concluded that the company is a “Rhino” type – achieving moderate revenue or earnings growth. The Star Chart shows that UPSTART HOLDINGS is strong in growth, and weak in asset, dividend, and profitability. Investors who are looking for a safe, moderate revenue or earnings growth may find this company interesting. GoodWhale’s analysis also shows that UPSTART HOLDINGS has an intermediate health score of 5/10 considering its cashflows and debt. This suggests that the company might be able to pay off its debt and fund its future operations. This is an attractive option for investors who value a low-risk investment and moderate returns. 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 disappointed with UPSTART HOLDINGS‘ third quarter performance for FY2023. Total revenue dropped 14.4% from the same period last year, while the net income came in at USD -40.3 million, compared to -56.2 million in the prior year. It remains to be seen whether the company will be able to turn its performance around in the next few quarters.
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