Upstart (UPST) Reports Earnings Tomorrow: What To Expect

AI-powered lending platform Upstart (NASDAQ:UPST) will be announcing earnings results this Tuesday after market close. Here’s what to look for.

Upstart beat analysts’ revenue expectations by 5.2% last quarter, reporting revenues of $213.4 million, up 67% year on year. It was a very strong quarter for the company, with EBITDA guidance for next quarter exceeding analysts’ expectations and a solid beat of analysts’ EBITDA estimates.

Is Upstart a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Upstart’s revenue to grow 77.5% year on year to $226.5 million, a reversal from the 6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.25 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Upstart has missed Wall Street’s revenue estimates twice over the last two years.

Looking at Upstart’s peers in the vertical software segment, some have already reported their Q2 results, giving us a hint as to what we can expect. PTC delivered year-on-year revenue growth of 24.2%, beating analysts’ expectations by 10.4%, and Q2 Holdings reported revenues up 12.9%, topping estimates by 0.8%. PTC traded up 5.7% following the results while Q2 Holdings was down 9.9%.

Read our full analysis of PTC’s results here and Q2 Holdings’s results here.

The outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. While some of the vertical software stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 5% on average over the last month. Upstart is up 3.7% during the same time and is heading into earnings with an average analyst price target of $69.43 (compared to the current share price of $79.20).

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