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Upstart Holdings, Inc., a leading artificial intelligence lending platform, has reported a significant decrease in Transaction Volume, both in dollars and number of loans, for the year ended December 31, 2023. The company's Transaction Volume in dollars fell by 59% to $4,645,669, while the number of loans decreased by 61% to 437,659. This contraction was attributed to reduced funding availability due to macroeconomic uncertainty and increased consumer risk and cost of funds. Despite these challenges, Upstart's Contribution Margin improved to 63%, up from 49% in the previous year. However, Adjusted EBITDA turned negative at $(17,217), a decline from $37,161 in the prior year, and Adjusted Net Income also dropped to a loss of $(46,933). The company's Conversion Rate decreased to 9.7%, and the Percentage of Loans Fully Automated rose...Show More
Upstart Holdings, Inc., a leading artificial intelligence lending platform, has reported a significant decrease in Transaction Volume, both in dollars and number of loans, for the year ended December 31, 2023. The company's Transaction Volume in dollars fell by 59% to $4,645,669, while the number of loans decreased by 61% to 437,659. This contraction was attributed to reduced funding availability due to macroeconomic uncertainty and increased consumer risk and cost of funds. Despite these challenges, Upstart's Contribution Margin improved to 63%, up from 49% in the previous year. However, Adjusted EBITDA turned negative at $(17,217), a decline from $37,161 in the prior year, and Adjusted Net Income also dropped to a loss of $(46,933). The company's Conversion Rate decreased to 9.7%, and the Percentage of Loans Fully Automated rose to 87%. Upstart's business development efforts focused on improving AI models and expanding product offerings, including the launch of a HELOC product. The company also faced a challenging macroeconomic environment, leading to workforce reductions and a shift in strategy to secure committed capital arrangements to stabilize loan funding. Upstart's future plans include continued investment in AI model development, product expansion, and diversification of capital sources for its lending marketplace.
領先的人工智能貸款平台Upstart Holdings, Inc. 報告稱，截至2023年12月31日的年度中，以美元和貸款數量計算的交易量均大幅下降。該公司的美元交易量下降了59％，至4,645,669美元，而貸款數量下降了61％，至437,659美元。這種收縮歸因於宏觀經濟的不確定性導致的資金供應減少以及消費者風險和資金成本的增加。儘管面臨這些挑戰，Upstart的貢獻利潤率從去年的49％提高到63％。但是，調整後的息稅折舊攤銷前利潤從去年的37,161美元轉爲負數（17,217美元），調整後淨收益也降至虧損美元（46,933美元）。該公司的轉化率降至9.7％，全自動貸款的百分比上升至87...展開全部
領先的人工智能貸款平台Upstart Holdings, Inc. 報告稱，截至2023年12月31日的年度中，以美元和貸款數量計算的交易量均大幅下降。該公司的美元交易量下降了59％，至4,645,669美元，而貸款數量下降了61％，至437,659美元。這種收縮歸因於宏觀經濟的不確定性導致的資金供應減少以及消費者風險和資金成本的增加。儘管面臨這些挑戰，Upstart的貢獻利潤率從去年的49％提高到63％。但是，調整後的息稅折舊攤銷前利潤從去年的37,161美元轉爲負數（17,217美元），調整後淨收益也降至虧損美元（46,933美元）。該公司的轉化率降至9.7％，全自動貸款的百分比上升至87％。Upstart的業務開發工作側重於改進人工智能模型和擴大產品供應，包括推出HELOC產品。該公司還面臨着嚴峻的宏觀經濟環境，導致員工裁員，戰略轉向確保承諾的資本安排以穩定貸款資金。Upstart的未來計劃包括繼續投資人工智能模型開發、產品擴展以及貸款市場的資本來源多元化。
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