Yesterday, the CNI Xiangmi Lake Fintech Index company$Upstart (UPST.US)$announced strong performance for the fourth quarter of 2024 and guidance for 2025. Boosted by this news, Upstart rose more than 30% yesterday and continued to rise more than 7% today.

Data shows that Upstart's Q4 revenue increased by 56% year-on-year to $0.219 billion, exceeding market expectations of $0.182 billion; the adjusted EPS was $0.26, better than the expected loss of $0.04 per share. The adjusted EBITDA was $38.8 million, easily surpassing the market expectation of $6.1 million; the adjusted EBITDA margin was 18%.

In Q4, Upstart issued a total of 245,663 loans, amounting to $2.1 billion, representing a year-on-year increase of 68% and a quarter-on-quarter increase of 33%; its conversion rate was 19.3%, up from 11.6% in the fourth quarter of 2023.

Upstart co-founder and CEO Dave Girouard stated, "In the fourth quarter of 2024, all of our product categories' Business achieved significant growth, with adjusted EBITDA reaching its highest level since the first quarter of 2022, and we are just one step away from achieving profitability under GAAP accounting standards."

Looking forward, Upstart expects full-year revenue in 2025 to be around $1 billion, better than the market expectation of $0.823 billion; of this, fee revenue is expected to be approximately $0.92 billion, and net interest income around $80 million. The company expects an adjusted EBITDA margin of about 18% in 2025, exceeding the market expectation of 13%.

Upstart also expects Q1 2025 revenue to be around $0.2 billion, better than the market expectation of $0.185 billion; the adjusted EBITDA is expected to be approximately $27 million, also better than the market expectation of $10.7 million.

Editor/ping