Upstart reported Q3 2024 total revenue of $162 million, increasing 20% YoY and 27% QoQ, with fee revenue rising 14% YoY to $168 million. Transaction volume reached $1.6 billion across 188,149 loans, up 30% YoY. The conversion rate improved significantly to 16.3% from 9.5% in the same quarter last year.The company posted a GAAP net loss of $6.8 million, improving from a $40.3 million loss in Q3 2023. Contribution profit grew 9% YoY to $102.4 million with a 61% margin. Adjusted EBITDA was $1.4 million, marking a return to positive territory despite declining from $2.3 million YoY.For Q4 2024, Upstart projects revenue of approximately $180 million, contribution margin of 59%, and Adjusted EBITDA of approximately $5 million. The company expects a net loss of around $35 million but anticipates adjusted net loss to improve to approximately $5 million.

Upstart reported Q3 2024 total revenue of $162 million, increasing 20% YoY and 27% QoQ, with fee revenue rising 14% YoY to $168 million. Transaction volume reached $1.6 billion across 188,149 loans, up 30% YoY. The conversion rate improved significantly to 16.3% from 9.5% in the same quarter last year.The company posted a GAAP net loss of $6.8 million, improving from a $40.3 million loss in Q3 2023. Contribution profit grew 9% YoY to $102.4 million with a 61% margin. Adjusted EBITDA was $1.4 million, marking a return to positive territory despite declining from $2.3 million YoY.For Q4 2024, Upstart projects revenue of approximately $180 million, contribution margin of 59%, and Adjusted EBITDA of approximately $5 million. The company expects a net loss of around $35 million but anticipates adjusted net loss to improve to approximately $5 million.