Upstart Q2 revenue rises on jump in loan originations

Upstart Holdings

04/08/2026 21:29

Overview
AI lending marketplace's Q2 revenue rose 42% yr/yr, driven by 50% loan origination growth
Q2 net income increased 195% yr/yr as company returned to GAAP profitability
Adjusted EBITDA for Q2 rose 45% yr/yr, margin remained at 21%

Outlook
Upstart continues to expect 2026 total revenue of approximately $1.4 bln
Company maintains 2026 revenue from fees guidance at about $1.3 bln
Upstart expects 2026 adjusted EBITDA of $294 mln, margin 21%

Result Drivers
PERSONAL LOAN GROWTH - Co said core personal loan originations re-accelerated, driving overall origination and revenue growth
SECURED PRODUCT IMPROVEMENT - Co said contribution margin for secured products improved significantly, though remained negative
TECHNOLOGY ADVANTAGE - CEO attributed results to compounding technology advantage and operational execution

Company press release: ID:nBw9WrWGXa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Total Revenue
 
$365 mln
 
Q2 EPS
 
$0.16
 
Q2 Net Income
 
$16.54 mln
 
Q2 Pretax Profit
 
$17.15 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 $40.00, about 35.9% above its August 3 closing price of $29.43
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 12 three months ago

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(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.)