On August 6, 2024, Upstart Holdings, Inc., a leading AI lending marketplace, disclosed its financial results for the second quarter ended June 30, 2024. The report, filed with the SEC, showed a total revenue of $128 million, marking a 6% decrease from the same quarter in the previous year. The company experienced a loss from operations of $55.5 million, widening from a $33.3 million loss in the prior year's quarter. GAAP net loss was reported at $54.5 million, compared to a $28.2 million loss in the second quarter of 2023. Despite the downturn, Upstart's CEO Dave Girouard highlighted significant advances in AI, a revitalized funding supply, and increased operating efficiency as foundational elements for the company's anticipated comeback. The company also provided a financial outlook for the third quarter of 2024, expecting approximately $150 million in revenue and a contribution margin of about 57%. Upstart's forward-looking statements indicate a positive EBITDA by the fourth quarter of 2024.

On August 6, 2024, Upstart Holdings, Inc., a leading AI lending marketplace, disclosed its financial results for the second quarter ended June 30, 2024. The report, filed with the SEC, showed a total revenue of $128 million, marking a 6% decrease from the same quarter in the previous year. The company experienced a loss from operations of $55.5 million, widening from a $33.3 million loss in the prior year's quarter. GAAP net loss was reported at $54.5 million, compared to a $28.2 million loss in the second quarter of 2023. Despite the downturn, Upstart's CEO Dave Girouard highlighted significant advances in AI, a revitalized funding supply, and increased operating efficiency as foundational elements for the company's anticipated comeback. The company also provided a financial outlook for the third quarter of 2024, expecting approximately $150 million in revenue and a contribution margin of about 57%. Upstart's forward-looking statements indicate a positive EBITDA by the fourth quarter of 2024.