AI lending platform Upstart Q1 net loss widens

Upstart Holdings

05/05/2026 21:34

Overview

AI lending marketplace's Q1 revenue grew 44% yr/yr, fees revenue up 49%

Company posted Q1 net loss of $6.6 mln compared to $2.4 million in Q1 2025; adjusted EBITDA declined yr/yr

Upstart reiterated full-year 2026 revenue and adjusted EBITDA outlook

Outlook

Upstart continues to expect 2026 total revenue of approximately $1.4 bln

Company maintains 2026 revenue from fees forecast at about $1.3 bln

Upstart sees 2026 adjusted EBITDA of about $294 mln, margin of 21%

Result Drivers

ORIGINATIONS GROWTH - Q1 total originations rose 61% yr/yr, driving higher revenue, per CEO Paul Gu

HOME AND AUTO EXPANSION - Company said rapid growth in home and auto lending contributed to overall results

OPERATING EXPENSES - Operating expenses rose 45% yr/yr, contributing to wider net loss

Company press release: ID:nBw1CQ6CTa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Fees Revenue
$277.06 mln
Q1 EPS
-$0.07
Q1 Net Income
-$6.65 mln
Q1 Operating Expenses
$315.73 mln
Q1 Pretax Profit
-$6.56 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the consumer lending peer group is "buy"

Wall Street's median 12-month price target for Upstart Holdings Inc is $43.00, about 34% above its May 4 closing price of $32.08

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 16 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)